Trabimo
ActiveSummary
Trabimo has been active since 1978 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€408,250) and a net result of €31,571. Equity has been shrinking by about 13% per year since 2019. Its solvency ranks better than 5% of 5,796 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-07-1978 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 1 other
- Joint committee
- 323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden · annual accounts 31-08-2025
- Establishment unit
- 2.015.116.008 4000 Liège, since 01-07-1978
- Financial year end
- 31 August
- Peppol
- Reachable since 21-01-2026
Board and ownership
- FSL INVESTDirector · since 22-12-2022 · permanent representative Frédéric SIMONIS
- FSL INVEST100%· score 5331-08-2025 annual accounts of FSL INVEST
- IMMOBILIERE LIEGEOISE99.94%· score 8031-08-2023 annual accounts of IMMOBILIERE LIEGEOISE
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- €305,774
- ▲ 23.0%
- Turnover
- ≈ €340,000
- estimated
- Profit
- €31,571
- ▲ 139%
- Equity
- -€408,250
- ▲ 7.2%
- Total assets
- €1.5m
- ▲ 0.4%
- Employees on 31-08-2025
- 2
- ▲ 100%
- Negative equity on 31-08-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€408,250Liquidity: current ratio 0.05, cash €21,930, halvedlowers riskSize: 1.7 FTE, total assets €1.5mLegal form: public limited companyShow the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 5% of them on solvency, 5% on liquidity, 62% on profitability and 62% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 24 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 12-03-2026 PDF all 46 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 51% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 1 | 2 |
| full-time | 3 | 3 | 1 | 2 |
| part-time | - | - | - | 0 |
| in full-time equivalents | 3 | 3 | 1 | 2 |
| Average over the year, in full-time equivalents | 2.5 | 3 | 1.8 | 1.7 |
| On a permanent contract | 3 | 3 | 1 | 2 |
| Joined | 2 | - | 1 | 1 |
| Left | 1 | - | 3 | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €591,355 | €530,210 | €472,728 | €417,126 |
| Mortgages, amount registered | - | - | €814,000 | €814,000 |
| Mortgage mandates | €814,000 | €814,000 | - | - |
| Carrying value of the mortgaged assets | €405,280 | €776,333 | €674,618 | €655,280 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €403,473 | €678,899 | €136,563 |
| Depreciation and write-downs of the year | €61,948 | €55,690 | €87,934 | €131,446 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as Trabimo: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €1.2m and €2.4m, founded between 1976 and 1993.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| Trabimo Liège | 1978 | €1.5m | -€0.4m | €0.3m | €0.03m | 1.7 | 2025 |
| AJ IMMO Beloeil | 1984 | €1.6m | €1.2m | €0.2m | -€0.007m | 1.6 | 2025 |
| DS Lokeren | 1976 | €2.3m | €2.2m | €0.3m | €0.02m | 2.2 | 2025 |
| Société d'Exploitation de la Ferme de l'Abbaye de la RAMEE et/ou l'Abbaye de la Ramée Jodoigne | 1993 | €1.2m | -€0.1m | €0.6m | €0.3m | 1.7 | 2025 |
| ROYAL IMMO Namur | 1989 | €2.1m | €0.5m | €0.4m | €0.01m | 2.6 | 2025 |
| MEUBELHAL TISSELT Willebroek | 1989 | €2.0m | €1.1m | €0.2m | €0.08m | 1 | 2025 |
| IMMO RITTWEGER Sint-Jans-Molenbeek | 1986 | €2.4m | €1.4m | €0.3m | €0.07m | 1 | 2025 |
They were chosen from the 7,230 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,449 companies had the same profile as Trabimo has now. Two years later, 2.5% had gone bankrupt and 92.2% were still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Trabimo itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,449 companies, not a prediction for Trabimo. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €110,488 | €142,386 | €96,563 | €89,413 | ▼ 7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,464 | €82,338 | €77,969 | €61,948 | €55,690 | €87,934 | €131,446 | ▲ 49.5% |
| Other operating charges640/8 | - | - | - | €16,516 | €76,633 | €27,052 | €28,914 | ▲ 6.9% |
| Gross operating margin9900 | €12,489 | €122,446 | €173,494 | €180,453 | €195,232 | €248,597 | €305,774 | ▲ 23.0% |
| Operating profit (loss)9901 | -€159,664 | -€48,214 | -€19,247 | -€8,499 | -€79,477 | €37,048 | €56,002 | ▲ 51.2% |
| Financial income75/76B | - | - | - | - | €6 | €458 | €201 | ▼ 56.1% |
| Recurring financial income75 | €1,220 | €602 | - | - | €6 | €458 | €201 | ▼ 56.1% |
| Financial charges65/66B | - | - | - | €31,265 | €21,952 | €24,288 | €24,631 | ▲ 1.4% |
| Recurring financial charges65 | €25,163 | €31,032 | €29,745 | €31,265 | €21,952 | €24,288 | €24,631 | ▲ 1.4% |
| Profit (loss) for the period before taxes9903 | -€183,607 | -€78,643 | -€48,992 | -€39,765 | -€101,423 | €13,218 | €31,571 | ▲ 139% |
| Income taxes67/77 | - | - | - | - | €2 | - | - | - |
| Profit (loss) for the period9904 | -€183,607 | -€78,643 | -€48,992 | -€39,765 | -€101,425 | €13,218 | €31,571 | ▲ 139% |
| Profit (loss) for the period to be appropriated9905 | -€183,607 | -€78,643 | -€48,992 | -€39,765 | -€101,425 | €13,218 | €31,571 | ▲ 139% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.6m | €0.6m | €0.5m | €0.9m | €1.5m | €1.5m | ▲ 0.4% |
| Fixed assets21/28 | €0.7m | €0.6m | €0.5m | €0.5m | €0.8m | €1.4m | €1.4m | ▲ 0.4% |
| Tangible fixed assets22/27 | €0.7m | €0.6m | €0.5m | €0.5m | €0.8m | €1.4m | €1.4m | ▲ 0.4% |
| Land and buildings22 | - | - | - | €0.3m | €0.7m | €0.7m | €0.7m | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.7m | €0.7m | ▲ 4.8% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.03m | €0.02m | ▼ 37.3% |
| Current assets29/58 | €0.09m | €0.03m | €0.06m | €0.06m | €0.07m | €0.07m | €0.07m | ▲ 1.8% |
| Amounts receivable within one year40/41 | €0.02m | €0.005m | €0.02m | €0.02m | €0.02m | €0.009m | €0.05m | ▲ 413% |
| Trade receivables40 | - | - | - | €0.02m | €0.02m | €0.007m | €0.006m | ▼ 20.0% |
| Other amounts receivable41 | - | - | - | - | - | €0.002m | €0.04m | ▲ 22× |
| Cash at bank and in hand54/58 | €0.06m | €0.03m | €0.03m | €0.04m | €0.05m | €0.06m | €0.02m | ▼ 62.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.003m | €0.004m | €0.005m | ▲ 29.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.6m | €0.6m | €0.5m | €0.9m | €1.5m | €1.5m | ▲ 0.4% |
| Equity10/15 | -€0.2m | -€0.3m | -€0.3m | -€0.4m | -€0.5m | -€0.4m | -€0.4m | ▲ 7.2% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | -€0.3m | -€0.3m | -€0.4m | -€0.4m | -€0.5m | -€0.5m | -€0.5m | ▲ 6.0% |
| Amounts payable17/49 | €1.0m | €0.9m | €0.9m | €0.9m | €1.3m | €1.9m | €1.9m | ▼ 1.3% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.6m | €0.6m | €0.5m | €0.5m | €0.4m | ▼ 11.9% |
| Financial debts170/4 | - | - | - | €0.6m | €0.5m | €0.5m | €0.4m | ▼ 11.9% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.3m | €0.3m | €0.8m | €1.4m | €1.5m | ▲ 2.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | ▲ 0.1% |
| Trade debts44 | €0.02m | €0.005m | €0.002m | €0.005m | €0.01m | €0.007m | €0.02m | ▲ 240% |
| Suppliers440/4 | - | - | - | €0.005m | €0.01m | €0.007m | €0.02m | ▲ 240% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.005m | €0.008m | ▲ 77.0% |
| Taxes450/3 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 37.1% |
| Remuneration and social security454/9 | - | - | - | €0.008m | €0.01m | €0.004m | €0.007m | ▲ 83.4% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.7m | €1.4m | €1.4m | ▲ 0.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 11.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€183,607 | -€78,643 | -€48,992 | -€39,765 | -€101,425 | €13,218 | €31,571 | ▲ 139% |
| + Depreciation and write-downs630 | €85,464 | €82,338 | €77,969 | €61,948 | €55,690 | €87,934 | €131,446 | ▲ 49.5% |
| Operating cash flow (approximation) | -€98,143 | €3,694 | €28,977 | €22,184 | -€45,734 | €101,152 | €163,017 | ▲ 61.2% |
| Investment in fixed assets (approximation) | - | €0 | -€22,952 | €0 | -€403,473 | -€678,899 | -€136,563 | ▲ 79.9% |
| Change in cash | - | -€32,527 | €7,428 | €6,530 | €11,107 | €7,089 | -€36,741 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 46 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-08-2025 | full format | 12-03-2026 | 2026-00052941 | |
| 31-08-2024 | full format | 06-03-2025 | 2025-00044251 | |
| 31-08-2023 | full format | 27-02-2024 | 2024-00034756 | |
| 31-08-2022 | full format | 30-03-2023 | 2023-00048435 | |
| 31-08-2021 | full format | 16-02-2022 | 2022-05600510 | |
| 31-08-2020 | full format | 24-02-2021 | 2021-05900455 | |
| 31-08-2019 | full format | 17-03-2020 | 2020-06800023 | |
| 31-08-2018 | full format | 28-03-2019 | 2019-08100325 | |
| 31-12-2016 | micro format | 30-09-2017 | 2017-64300362 | |
| 31-12-2015 | full format | 02-08-2016 | 2016-40200392 |
Board & ownership
Directors
Board 1
Permanent representatives 1
Owners and capital
Shareholders
2 ownersChain of control
- FSL INVEST
- Trabimo
Owners 2
- FSL INVESTparentEquity -€169,396 Loss of €32,923 in 2025 (profit of €24,705 in 2024) Checked score 53100%
- IMMOBILIERE LIEGEOISEparentEquity €1.5m Loss of €546,653 in 2025 (loss of €181,827 in 2024) Checked score 8099.94%
Capital transactions
- 11-01-2023 Capital stated in the deed · €61,500 · 1,635 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| FSL INVEST |
|
| FSL INVEST ST GILLES |
|
| IMMOBILIERE LIEGEOISE |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, administrateur unique”
Articles of association, deed of 11-01-2023 (in French)
Network & group
Connections & network
1 current directorThe network starts from the directors of Trabimo. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
11-01
Gazette deed
Resignations: IMMOBILIERE LIEGEOISE (director) and FSL INVEST ST GILLES (director)Appointment: FSL INVEST (sole director) · Permanent representative: Frédéric SIMONIS · Amendment of the articles12 points ▸
- General meeting, 22-12-2022
- Amendment of the articles, mentioned 2 times in the deed
- Capital, €61,500
- Capital
- Director resignation, IMMOBILIERE LIEGEOISE (director)
- Director resignation, FSL INVEST ST GILLES (director)
- Director discharge, IMMOBILIERE LIEGEOISE
- Director discharge, FSL INVEST ST GILLES
- Board rule, 1
- Director appointment, FSL INVEST (sole director)
- Permanent representative, Frédéric SIMONIS
- Registered office clause, “4000 Liège,Boulevard d'Avroy 84” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
4 activities
- La société a pour objet toutes opérations immobilières tant en Belgique qu’à l’étranger que ce soit sous forme de vente,achat,courtage,location,droit d’emphytéose,droit de superficie,l’hypothèque,agence immobilière,promotion et toutes opérations similaires généralement quelconques.
- Elle est également une société de service apte à donner tous conseils techniques,comptables,administratifs et commerciaux,et à gérer toutes affaires pour compte de tous tiers,sociétés ou indépendants,belges ou étrangers.
- La société pourra faire elle-même ou par l’intermédiaire de tous tiers,toutes opérations généralement quelconques,commerciales,industrielles,financières,mobilières ou immobilières,en Belgique ou à l’étranger,qui,directement ou indirectement,en tout ou en partie,se rapportent à son objet social.
- Elle peut s’intéresser par toutes voies de droit et tous moyens dans toutes affaires et entreprises ou sociétés ayant un objet analogue,similaire ou connexe et de nature à favoriser le développement de son entreprise.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62803B0163/00B000 | Wallonia | 148 m² | 1 · 68 m² | 19.6 m · 6 |