TARGET IMMO
ActiveSummary
TARGET IMMO has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€183,400) and a net result of -€45,589. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▼-12
Solvency8▼-8
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.84 against 0.93 in 2024; short-term debt: 114.8% and cash: 3.8% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-17.2%
Return on assets
-4.3%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€183,400
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
61 d late
2023
31 d late
2022
29 d late
2021
1 d late
2020
59 d late
2019
17 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€183,400▼ 33.1%
2024 · -€137,811
Total assets
€1.1m▼ 27.5%
2024 · €1.5m
Net result
-€45,589▲ 28.8%
2024 · -€64,038
Working capital
-€194,266▼ 65.4%
2024 · -€117,452
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€28,311-€25,905▲ 8.5%€23,950€21,357▼ 10.8%€8,396▼ 60.7%
Net result-€30,205below the sector's middle half-€47,597below the sector's middle half▼ 57.6%-€71,243below the sector's middle half▼ 49.7%-€64,038below the sector's middle half▲ 10.1%-€45,589below the sector's middle half▲ 28.8%
Equity€45,067within the sector's middle half▼ 40.1%-€2,530below the sector's middle half-€73,773below the sector's middle half▼ 2,816%-€137,811below the sector's middle half▼ 86.8%-€183,400below the sector's middle half▼ 33.1%
Total assets€805,070within the sector's middle half▲ 258%€1.0mwithin the sector's middle half▲ 28.5%€2.5mabove the sector's middle half▲ 139%€1.5mabove the sector's middle half▼ 40.5%€1.1mabove the sector's middle half▼ 27.5%
Debt€760,003▲ 407%€1.0m▲ 36.4%€2.5m▲ 146%€1.6m▼ 36.8%€1.3m▼ 22.4%
Working capital€94,306within the sector's middle half▲ 39.0%€231within the sector's middle half▼ 99.8%-€70,971within the sector's middle half-€117,452below the sector's middle half▼ 65.5%-€194,266below the sector's middle half▼ 65.4%
Solvency5.6%below the sector's middle half▼ 27.9pp-0.2%below the sector's middle half▼ 5.8pp-3.0%below the sector's middle half▼ 2.7pp-9.4%below the sector's middle half▼ 6.4pp-17.2%below the sector's middle half▼ 7.8pp
Current ratio1.13within the sector's middle half▼ 0.351.00within the sector's middle half▼ 0.130.97within the sector's middle half▼ 0.030.93within the sector's middle half▼ 0.050.84within the sector's middle half▼ 0.08
Return on assets (ROA)-3.8%below the sector's middle half▼ 16.3pp-4.6%below the sector's middle half▼ 0.8pp-2.9%below the sector's middle half▲ 1.7pp-4.3%below the sector's middle half▼ 1.5pp-4.3%below the sector's middle half▲ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 61% below 2024.
Balance-sheet composition
Assets €1.1m
Fixed assets
€36,676
Current assets
€1.0m
Key figures and ratios
EBITDA
€9,018
Cash flow
-€44,967
Quick ratio
0.45▲
2024 · 0.09
Debt to equity
-6.82▲
2024 · -11.68
Interest coverage
0.17
Debt ≤ 1 year
€1.2m▼
2024 · €1.6m
Debt > 1 year
€25,810
Income taxes
€391▲
2024 · €325
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,217 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- negative equity
- a small loss
1.1%
went bankrupt
2.6%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,217 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,446 | €8,446 | - | - | €622 | - |
| Other operating charges640/8 | €4,595 | €2,425 | €4,418 | €5,837 | €3,797 | ▼ 35.0% |
| Gross operating margin9900 | -€15,270 | -€15,034 | €28,368 | €27,194 | €12,814 | ▼ 52.9% |
| Operating profit (loss)9901 | -€28,311 | -€25,905 | €23,950 | €21,357 | €8,396 | ▼ 60.7% |
| Financial income75/76B | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Financial charges65/66B | €1,601 | €21,387 | €95,193 | €85,069 | €53,594 | ▼ 37.0% |
| Recurring financial charges65 | €1,601 | €21,387 | €95,193 | €85,069 | €53,594 | ▼ 37.0% |
| Profit (loss) for the period before taxes9903 | -€29,913 | -€47,292 | -€71,243 | -€63,713 | -€45,198 | ▲ 29.1% |
| Income taxes67/77 | €292 | €305 | - | €325 | €391 | ▲ 20.3% |
| Profit (loss) for the period9904 | -€30,205 | -€47,597 | -€71,243 | -€64,038 | -€45,589 | ▲ 28.8% |
| Profit (loss) for the period to be appropriated9905 | -€30,205 | -€47,597 | -€71,243 | -€64,038 | -€45,589 | ▲ 28.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €805,070 | €1.0m | €2.5m | €1.5m | €1.1m | ▼ 27.5% |
| Fixed assets21/28 | €8,446 | - | - | - | €36,676 | - |
| Tangible fixed assets22/27 | €8,446 | - | - | - | €36,676 | - |
| Furniture and vehicles24 | €8,446 | - | - | - | €36,676 | - |
| Current assets29/58 | €796,624 | €1.0m | €2.5m | €1.5m | €1.0m | ▼ 30.0% |
| Stocks and contracts in progress3 | €706,946 | €955,934 | €1.2m | €1.3m | €479,907 | ▼ 63.7% |
| Stocks30/36 | €706,946 | €955,934 | €1.2m | €1.3m | €479,907 | ▼ 63.7% |
| Amounts receivable within one year40/41 | €24,348 | €44,510 | €1.3m | €103,917 | €509,278 | ▲ 390% |
| Trade receivables40 | €16,917 | €16,917 | €1.2m | €12,706 | €509,278 | ▲ 3,908% |
| Other amounts receivable41 | €7,431 | €27,592 | €43,739 | €91,211 | - | - |
| Cash at bank and in hand54/58 | €65,330 | €33,891 | €4,376 | €46,315 | €40,800 | ▼ 11.9% |
| Deferred charges and accrued income490/1 | - | - | €61 | €167 | €80 | ▼ 51.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €805,070 | €1.0m | €2.5m | €1.5m | €1.1m | ▼ 27.5% |
| Equity10/15 | €45,067 | -€2,530 | -€73,773 | -€137,811 | -€183,400 | ▼ 33.1% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €18 | €18 | €18 | €18 | €18 | = |
| Non-distributable reserves130/1 | €18 | €18 | €18 | €18 | €18 | = |
| Reserves not available under the articles1311 | €18 | €18 | €18 | €18 | €18 | = |
| Profit (loss) carried forward14 | -€29,950 | -€77,547 | -€148,791 | -€212,828 | -€258,417 | ▼ 21.4% |
| Amounts payable17/49 | €760,003 | €1.0m | €2.5m | €1.6m | €1.3m | ▼ 22.4% |
| Amounts payable after more than one year17 | €713 | - | - | - | €25,810 | - |
| Financial debts170/4 | €713 | - | - | - | €25,810 | - |
| Amounts payable within one year42/48 | €702,318 | €1.0m | €2.5m | €1.6m | €1.2m | ▼ 23.0% |
| Current portion of amounts payable after more than one year42 | €8,509 | €713 | - | - | €11,687 | - |
| Financial debts43 | - | €570,000 | €1.5m | €846,379 | €399,839 | ▼ 52.8% |
| Credit institutions430/8 | - | €570,000 | €1.5m | €846,379 | €399,839 | ▼ 52.8% |
| Trade debts44 | €96,548 | €74,312 | €77,017 | €107,124 | €85,292 | ▼ 20.4% |
| Suppliers440/4 | €96,548 | €74,312 | €77,017 | €107,124 | €85,292 | ▼ 20.4% |
| Advances received on contracts in progress46 | - | - | - | - | €110,000 | - |
| Taxes, remuneration and social security45 | €4,688 | €4,916 | €5,341 | €3,475 | €3,636 | ▲ 4.6% |
| Taxes450/3 | €4,688 | €4,916 | €5,341 | €3,475 | €3,636 | ▲ 4.6% |
| Other amounts payable47/48 | €592,573 | €384,163 | €939,560 | €632,698 | €613,878 | ▼ 3.0% |
| Accrued charges and deferred income492/3 | €56,972 | €2,761 | €2,802 | €20,359 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€30,205 | -€47,597 | -€71,243 | -€64,038 | -€45,589 | ▲ 28.8% |
| + Depreciation and write-downs630 | €8,446 | €8,446 | - | - | €622 | - |
| Operating cash flow (approximation) | -€21,759 | -€39,151 | -€71,243 | -€64,038 | -€44,967 | ▲ 29.8% |
| Change in cash | - | -€31,439 | -€29,515 | €41,938 | -€5,514 | ▼ 113% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
09-07
State Gazette act
Reappointment: INSPIRED VISION (administrateur non statutaire unique)Permanent representative: VAN DER ELST Thomas Jean-Pierre Christian · Legal-form conversion · Capital conversion11 facts ▸
State Gazette act
Reappointment: INSPIRED VISION (administrateur non statutaire unique)
Permanent representative: VAN DER ELST Thomas Jean-Pierre Christian · Legal-form conversion · Capital conversion11 facts ▸
- General meeting, 06-07-2026
- Legal-form conversion, Société à responsabilité limitée
- Capital conversion, compte de capitaux propres statutairement indisponible
- Reserve release, inclut les éventuels versements futurs de la part non encore libérée du capital, suppression du compte de capitaux propres statutairement indisponible
- Statutes amendment
- Capital
- Director reappointment, INSPIRED VISION (administrateur non statutaire unique)
- Permanent representative, VAN DER ELST Thomas Jean-Pierre Christian (permanent representative)
- Power of attorney
- Power of attorney, Dimitri CLEENEWERCK de CRAYENCOUR
- Permanent representative, permanent representative
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet -€71,243
Net result drops to -€71,243, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 59 days late
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
31-12
Financial
Back to profitnet €61,189
Net result €61,189 after one loss-making year.
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 43 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
INSPIRED VISION
CurrentAdministrateur non statutaire unique · since 06-07-2026 · Private limited company · perm. rep.: VAN DER ELST Thomas Jean-Pierre Christian
Permanent representatives 1
VAN DER ELST Thomas Jean-Pierre Christian
CurrentPermanent representative · since 06-07-2026 · for INSPIRED VISION
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2015
Ground area
1,574 m²
Building footprint
1,579 m²
Volume, LiDAR
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
284
companies at this address
See who is registered here
1 establishment unit
Target Immo
since 20152.237.471.482
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| INSPIRED VISION |
|
Articles of association
Who signs
Each director alone
Duration
Unlimited
Purpose
L'achat, la vente, le lotissement, la mise ou la prise en location, l'exploitation, la construction, la rénovation, l'aménagement, la mise en valeur et la gestion de tous biens…
Full purpose (9 activities)
- L'achat, la vente, le lotissement, la mise ou la prise en location, l'exploitation, la construction, la rénovation, l'aménagement, la mise en valeur et la gestion de tous biens immeubles ou de tous droits immobiliers et, en général, l'exécution de toutes opérations immobilières
- L’exercice de mandat de syndic dans toutes copropriétés
- L’achat, la vente, l’échange et, en général, toutes opérations sur meubles, corporels et incorporels
- Exercer des fonctions d'administration ou de gestion dans d'autres sociétés
- Réaliser son objet social personnellement ou en recourant à la sous-traitance, pour son compte ou pour le compte d'autrui, dans ce dernier cas avec l’accès à la profession si nécessaire, en tous lieux, de toutes les manières et selon les modalités qui lui paraissent les mieux appropriées, le tout sous réserve des accès à la profession lorsqu’ils s’avèrent nécessaires
- Faire, en Belgique et à l'étranger, d'une façon générale, toutes opérations commerciales ou civiles en relation quelconque avec son objet ou pouvant en faciliter la réalisation
- Effectuer tous placements en valeurs mobilières et immobilières et les gérer
- S'intéresser par voie d'association, d'apport ou de fusion, de souscription, de participation, d'intervention financière ou autrement, dans toutes sociétés ou entreprises, existantes ou à créer
- Conférer toutes sûretés pour compte de tiers
Legal form clause
TARGET IMMO
Registered office clause
Région de Bruxelles-Capitale, transfert partout ailleurs en Belgique par simple décision de l’organe d'administration, publication aux Annexes du Moniteur belge…
Financial instrument
One provision in the deed
Share issue rule
Offerts par préférence aux actionnaires existants, proportionnellement au nombre d’actions qu’ils détiennent, pas de suppression ou limitation du droit de préfé…
1 more provision on this in the deed
Authorised capital
Autorisation, renouvelable pour une ou plusieurs périodes de cinq ans maximum
Member resignation
Actionnaire
Other statement
Droit commun, pour tout ce qui n'a pas été prévu aux présents statuts, les parties déclarent s'en référer au Code des sociétés et des associations
Chaque membre d'un organe d'administration ou délégué à la gestion journalière peut élire domicile au siège de la société pour toutes les questions qui concerne…
3 more provisions on this in the deed
Share register
One provision in the deed
Transfer restriction
7 provisions in the deed
Board rule
L'assemblée qui les nomme fixe leur nombre, la durée de leur mandat qui peut être déterminée ou indéterminée, leur rémunération et, s'ils sont plusieurs, leurs…
2 more provisions on this in the deed
Board meeting
Tout administrateur peut donner à un de ses collègues, par écrit ou tout autre moyen de communication ayant un support matériel, mandat pour le représenter à un…
Auditor rule
Commissaires sortants rééligibles, réviseurs d'entreprises inscrits au registre public des réviseurs d'entreprises ou cabinets d'audit enregistrés
Profit allocation
Limites fixées par la loi, assemblée générale
Dissolution rule
Dissolution et clôture de la liquidation en un seul acte possibles dans le respect des conditions prévues à l'article 2:80 du Code des sociétés et des associati…
Liquidation distribution
Après réalisation de l'actif, apurement du passif ou consignation des sommes nécessaires à cet effet, solde éventuel réparti entre les actionnaires dans la prop…
Permanent representative rule
One provision in the deed
Other provisions
Apports supplémentaires en contrepartie de l’émission d’actions nouvelles par décision de l’assemblée générale statuant dans les formes prescrites pour la modif…
2 more provisions in the deed, see the deed of 09-07-2026
Structure & network
Owners and holdings
1 ownerChain of control
- INSPIRED VISION
- TARGET IMMO
Highest known parent: INSPIRED VISION. The sources do not say who stands above it.
Owners 1
- INSPIRED VISIONparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Capital and shareholders
Capital over the years
- 09-07-2026 Converted to unavailable equity
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 3,206 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-11-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0567755351
Registered
18-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.