SAD IMMO
ActiveSAD IMMO has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €949k and a net result of €-12k. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 31% of 4533 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability47▲+2
Solvency44▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity short (current ratio 0.26 against 0.67 in 2024; short-term debt: 9.1% and cash: 1.1% of total assets), and 81.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
18.7%
Return on assets
-0.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
51 d early
2023
48 d early
2022
47 d early
2021
47 d early
2020
46 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-12k▲ 32.3%
2024 · €-17k
2018: €676k
2019: €-97k
2020: €-132k
2021: €-97k
2022: €-36k
2023: €-13k
2024: €-17k
2018 → 2025
Working capital
€-342k▼ 156%
2024 · €-133k
2018: €-487k
2019: €-117k
2020: €-114k
2021: €-183k
2022: €-148k
2023: €-154k
2024: €-133k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€943k-€884k▼ 6.3%€847k▼ 4.1%€994k▲ 17.3%€949k▼ 4.5%
Operating result€-98k-€-41k▲ 58.1%€19k€54k▲ 185%€55k▲ 1.4%
Net result€-97k-€-36k▲ 63.0%€-13k▲ 63.7%€-17k▼ 30.4%€-12k▲ 32.3%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.08M
Fixed assets
€4.96M▼ 2.8%
Current assets
€119k▼ 56.4%
Equity and liabilities €5.08M
Equity
€949k▼ 4.5%
Provisions
€166k▼ 7.6%
Debt
€3.96M▼ 5.7%
The debt ratio falls from 78.2% to 78.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€390k▲
2024 · €360k
Cash flow
€323k▲
2024 · €289k
Solvency
18.7%▲
2024 · 18.5%
Current ratio
0.26▼
2024 · 0.67
Quick ratio
0.26▼
2024 · 0.67
Debt / equity
4.18▼
2024 · 4.23
ROE
-1.2%▲
2024 · -1.7%
ROA
-0.2%▲
2024 · -0.3%
Interest coverage
3.47▲
2024 · 3.18
Debt
€3.96M▼
2024 · €4.20M
Debt ≤ 1 year
€460k▲
2024 · €405k
Debt > 1 year
€3.50M▼
2024 · €3.80M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.37M€5.08M▼
Formation expenses20€4k€2k▼
Fixed assets21/28€5.10M€4.96M▼
Tangible fixed assets22/27€5.09M€4.95M▼
Land and buildings22€5.06M€4.80M▼
Plant, machinery and equipment23€17k€31k▲
Furniture and vehicles24€12k€9k▼
Assets under construction and advance payments27€0€109k▲
Financial fixed assets28€6k€6k=
Other financial fixed assets284/8€6k€6k=
Amounts receivable and cash guarantees285/8€6k€6k=
Current assets29/58€272k€119k▼
Amounts receivable within one year40/41€227k€61k▼
Trade receivables40€33k€52k▲
Other amounts receivable41€194k€8k▼
Cash at bank and in hand54/58€43k€53k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€5.37M€5.08M▼
Equity10/15€994k€949k▼
Contributions10/11€228k€228k=
Capital10€228k€228k=
Issued capital100€228k€228k=
Reserves13€562k€521k▼
Non-distributable reserves130/1€23k€23k=
Legal reserve130€23k€23k=
Tax-exempt reserves132€539k€498k▼
Distributable reserves133€153€153=
Profit (loss) carried forward14€-288k€-259k▲
Investment grants15€492k€460k▼
Provisions and deferred taxes16€180k€166k▼
Deferred taxes168€180k€166k▼
Amounts payable17/49€4.20M€3.96M▼
Amounts payable after more than one year17€3.80M€3.50M▼
Financial debts170/4€3.80M€3.50M▼
Credit institutions173€3.80M€3.50M▼
Amounts payable within one year42/48€405k€460k▲
Current portion of amounts payable after more than one year42€282k€293k▲
Trade debts44€4k€27k▲
Suppliers440/4€4k€27k▲
Other amounts payable47/48€120k€141k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Operating income70/76A€446k€504k▲
Other operating income74€446k€504k▲
Operating charges60/66A€392k€450k▲
Services and other goods61€57k€84k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€306k€335k▲
Other operating charges640/8€28k€31k▲
Operating profit (loss)9901€54k€55k▲
Financial income75/76B€33k€36k▲
Recurring financial income75€31k€33k▲
Other financial income752/9€31k€33k▲
Non-recurring financial income76B€2k€3k▲
Financial charges65/66B€118k€116k▼
Recurring financial charges65€118k€116k▼
Debt charges650€113k€112k▼
Other financial charges652/9€4k€3k▼
Profit (loss) for the period before taxes9903€-31k€-25k▲
Transfer from deferred taxes780€14k€14k=
Profit (loss) for the period9904€-17k€-12k▲
Transfer from tax-exempt reserves789€41k€41k=
Profit (loss) for the period to be appropriated9905€24k€29k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-288k€-259k▲
Profit (loss) brought forward from the previous period14P€-312k€-288k▲
The notes to these accounts (49 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €-132k
Net result drops to €-132k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €1MEq €1.22M ▲36.4%
Equity rises from €893k to €1.22M.
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
19 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nivelles · 1 establishment unit since 1975
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue Robert Schuman 1811401 NivellesGround area
1.1 ha
Building footprint
2,491 m²
Volume, LiDAR
17,094 m³
Parcel 25004A0023/00X007, Wallonia · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SAD IMMO
since 19752.011.277.677
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25004A0023/00X007 | Wallonia | 1.1 ha | 1 · 2,491 m² | 10.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
KARILISE
BE 0437.378.146
Bocholt · Eq €950k
Vivilog
BE 0831.792.222
Herent · Eq €948k
HEUVAL IMMO
BE 0476.137.069
Villers-la-Ville · Eq €951k
VAN LANDSCHOOT IMMO
BE 0447.806.834
Maldegem · Eq €952k
RES. TOLHUIS
BE 1000.900.240
Knokke-Heist · Eq €945k
Of 7,321 companies in sector 68110 we hold annual accounts for 5,382. 3,281 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded14-07-1975
Fiscal year end31-12
Activities, NACEBEL
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.