Securex Immo

Active

Private limited companyfounded 200817 yrs activeTervurenlaan 43, 1040 Etterbeek, BelgiumKBO/BCE: BE 0807.230.040

Securex Immo has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19.05M and a net result of €-330k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 70% of 9088 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

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Checked score

Score 2025

22 / 100

Critical▼ -46 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-6

Solvency64▼-30

Growth52▼-26

Stability100

Bankruptcy probability, 12 months

0.5% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.01 against 1.75 in 2024), and 42.7% of the assets are financed with debt.

How do we compute the score and the probability?

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

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

57.3%

Return on assets

-1%

Age of the figures

8 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

31 d early

2024

31 d early

2023

19 d early

2022

20 d early

2021

32 d early

2020

29 d early

2019

37 d early

← before the deadline after the deadline →

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 months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-330k

2024 · €223k

2018: €-5k 2019: €-41k 2020: €18k 2021: €9k 2023: €1.08M 2024: €223k

2018 → 2025

Working capital

€-13.88M

2024 · €256k

2018: €-193k 2019: €-233k 2020: €-210k 2021: €-204k 2023: €264k 2024: €256k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202320242025Trend

Equity€194k-€203k▲ 4.8%€19.37M▲ 9,422%€19.38M▲ 0.1%€19.05M▼ 1.7%

Operating result€22k-€10k▼ 53.5%€-368k€-188k▲ 49.0%€-261k▼ 38.9%

Net result€18k-€9k▼ 47.4%€1.08M▲ 11,517%€223k▼ 79.4%€-330k

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €261k in 2025 against €188k in 2024; the loss grows.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €33.27M

99.4%

Fixed assets €33.06M▲ 72.9%

Current assets €209k▼ 64.9%

Equity and liabilities €33.27M

57.3%

42.7%

Equity €19.05M▼ 1.7%

Debt €14.22M▲ 4,084%

The debt ratio rises from 1.7% to 42.7%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-257k▼

2024 · €-186k

Cash flow

€-326k▼

2024 · €225k

Solvency

57.3%▼

2024 · 98.3%

Current ratio

0.01▼

2024 · 1.75

Quick ratio

0.01▼

2024 · 1.75

Debt / equity

0.75▲

2024 · 0.02

ROE

-1.7%▼

2024 · 1.2%

ROA

-1.0%▼

2024 · 1.1%

Interest coverage

-1.25▲

2024 · -199.30

Debt

€14.22M▲

2024 · €340k

Debt ≤ 1 year

€14.09M▲

2024 · €340k

Income taxes

€325▼

2024 · €2k

Staff costs

€461k▼

2024 · €487k

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€19.72M€33.27M▲

Fixed assets21/28€19.12M€33.06M▲

Intangible fixed assets21€30k€34k▲

Tangible fixed assets22/27€7k€7k=

Land and buildings22€7k€7k=

Financial fixed assets28€19.09M€33.02M▲

Current assets29/58€596k€209k▼

Amounts receivable within one year40/41€177k€39k▼

Trade receivables40€161k€38k▼

Other amounts receivable41€16k€776▼

Cash at bank and in hand54/58€418k€46k▼

Deferred charges and accrued income490/1-€124k

Equity and liabilities

Total equity and liabilities10/49€19.72M€33.27M▲

Equity10/15€19.38M€19.05M▼

Contributions10/11€19.31M€19.31M=

Reserves13€73k€73k=

Non-distributable reserves130/1€73k€73k=

Reserves not available under the articles1311€73k€73k=

Profit (loss) carried forward14€575€-329k▼

Amounts payable17/49€340k€14.22M▲

Amounts payable within one year42/48€340k€14.09M▲

Trade debts44€21k€8k▼

Suppliers440/4€21k€8k▼

Taxes, remuneration and social security45€97k€63k▼

Taxes450/3€353€15k▲

Remuneration and social security454/9€97k€48k▼

Other amounts payable47/48€221k€14.02M▲

Accrued charges and deferred income492/3-€129k

Income statement Code20242025

Remuneration, social security and pensions62€487k€461k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€4k▲

Other operating charges640/8€1k€998▼

Non-recurring operating charges66A€672-

Gross operating margin9900€302k€205k▼

Operating profit (loss)9901€-188k€-261k▼

Financial income75/76B€414k€138k▼

Recurring financial income75€412k€138k▼

Non-recurring financial income76B€2k-

Financial charges65/66B€935€206k▲

Recurring financial charges65€935€206k▲

Profit (loss) for the period before taxes9903€225k€-329k▼

Income taxes67/77€2k€325▼

Profit (loss) for the period9904€223k€-330k▼

Profit (loss) for the period to be appropriated9905€223k€-330k▼

Appropriation of the result

Profit (loss) to be appropriated9906€225k€-329k▼

Profit (loss) brought forward from the previous period14P€1k€575▼

Transfer to equity691/2€12k-

To the legal reserve6920€12k-

Profit to be distributed694/7€212k-

Return on contributions (dividend)694€212k-

Social balance

Average headcount (FTE)90874.83.9▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-06

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-330k ▼248%

Net result drops to €-330k, the lowest in the series.

30-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

12-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Highest result since 2018net €1.08M ▲11517%

Net result €1.08M, the highest in the series.

31-12

Financial Liquidity times 9current ratio 1.84

Current ratio from 0.20 to 1.84.

31-12

Financial Equity above €10MEq €19.37M ▲9422%

3 profitable years in a row build equity to €19.37M.

11-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

29-03

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

30-09

Financial Equity above €200kEq €203k ▲4.8%

2 profitable years in a row build equity to €203k.

01-04

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

30-09

Financial Back to profitnet €18k

Net result €18k after 2 loss-making years.

24-03

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

12-03

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

30-03

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

10-04

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 directors, no change since 2024

Guy SAVOIR

Director (executive) · since 09-11-2022

Current

19-06-2024 Filip BAPTIST: Resigned as Director

09-12-2022 Val U Invest: Resigned as Director

09-11-2022 Guy SAVOIR: Appointed as Director (executive)

Location & real-estate footprint

Registered office, Etterbeek · 2 establishment units since 2008

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.

Tervurenlaan 431040 Etterbeek

Ground area

1.3 ha

Building footprint

1.2 ha

Volume, LiDAR

124,218 m³

3 parcels, Brussels · tallest building 34.4 m, ±4 floors. Linked by address, not a title deed.

2 establishment units

Pletinckxstraat 68, 1000 Brussel

Real estate activities

since 20082.174.517.888

Securex Immo

Sint Michielswarande 30, 1040 EtterbeekReal estate activities

since 20232.351.566.842

3 parcels

Brussels 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21362B0253/02F000	Brussels	1.3 ha	1 · 1.1 ha	34.4 m · 2 fl.
21005A0563/06_000	Brussels	454 m²	1 · 325 m²	14.9 m · 1 fl.
21811M1246/00X000	Brussels	105 m²	1 · 103 m²	17.9 m · 4 fl.