Z IMMO
ActiveSummary
Z IMMO has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €37.3m and a net result of €1.3m. Equity is growing by ~3.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
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Signals
This company filed its last 7 accounts on average 40 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, abbreviated schema
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 491 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Large
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 491 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €2.7m | €2.7m | €3.0m | €3.2m | €3.3m | ▲ 2.3% |
| Non-recurring operating income76A | €2,354 | €1,520 | €2.7m | €2.3m | €2.0m | ▼ 12.1% |
| Goods, raw materials, services and sundry goods60/61 | €868,135 | €734,810 | €1.1m | €1.4m | €1.1m | ▼ 19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €722,967 | €725,783 | €540,502 | €481,818 | €488,775 | ▲ 1.4% |
| Other operating charges640/8 | €197,318 | €210,342 | €218,619 | €212,997 | €204,832 | ▼ 3.8% |
| Non-recurring operating charges66A | €9,911 | €250 | €6,616 | €395,676 | €1.1m | ▲ 168% |
| Gross operating margin9900 | €1.9m | €2.0m | €4.6m | €4.1m | €4.2m | ▲ 1.9% |
| Operating profit (loss)9901 | €925,699 | €1.1m | €3.9m | €3.0m | €2.4m | ▼ 19.6% |
| Financial income75/76B | €1 | €0 | €156,696 | €211,164 | €120,736 | ▼ 42.8% |
| Recurring financial income75 | €1 | €0 | €156,696 | €211,164 | €120,736 | ▼ 42.8% |
| Financial charges65/66B | €275,375 | €208,558 | €636,708 | €597,596 | €390,762 | ▼ 34.6% |
| Recurring financial charges65 | €275,375 | €208,558 | €636,708 | €597,596 | €390,762 | ▼ 34.6% |
| Profit (loss) for the period before taxes9903 | €650,326 | €850,036 | €3.4m | €2.6m | €2.1m | ▼ 18.0% |
| Income taxes67/77 | €240,694 | €271,787 | €250,465 | €720,808 | €779,677 | ▲ 8.2% |
| Profit (loss) for the period9904 | €409,632 | €578,249 | €3.1m | €1.9m | €1.3m | ▼ 28.1% |
| Profit (loss) for the period to be appropriated9905 | €409,632 | €578,249 | €3.1m | €1.9m | €1.3m | ▼ 28.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54.6m | €57.5m | €52.6m | €54.5m | €55.4m | ▲ 1.7% |
| Fixed assets21/28 | €38.5m | €38.1m | €40.4m | €39.9m | €41.8m | ▲ 4.8% |
| Tangible fixed assets22/27 | €17.8m | €17.4m | €17.0m | €16.5m | €16.0m | ▼ 3.2% |
| Land and buildings22 | €17.8m | €17.3m | €16.9m | €16.4m | €15.9m | ▼ 3.5% |
| Plant, machinery and equipment23 | - | - | €7,911 | - | - | - |
| Assets under construction and advance payments27 | - | €52,661 | €89,630 | €55,161 | €100,000 | ▲ 81.3% |
| Financial fixed assets28 | €20.7m | €20.7m | €23.4m | €23.4m | €25.8m | ▲ 10.4% |
| Current assets29/58 | €16.2m | €19.4m | €12.2m | €14.6m | €13.6m | ▼ 6.7% |
| Amounts receivable after more than one year29 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Other amounts receivable291 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Amounts receivable within one year40/41 | €14.6m | €18.0m | €10.8m | €13.2m | €12.2m | ▼ 8.0% |
| Trade receivables40 | €15,056 | €13,077 | €782 | €782 | €782 | = |
| Other amounts receivable41 | €14.5m | €18.0m | €10.8m | €13.2m | €12.2m | ▼ 8.0% |
| Cash at bank and in hand54/58 | €300,572 | €151,517 | €55,373 | €75,000 | €147,328 | ▲ 96.4% |
| Deferred charges and accrued income490/1 | €3,704 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54.6m | €57.5m | €52.6m | €54.5m | €55.4m | ▲ 1.7% |
| Equity10/15 | €30.4m | €31.0m | €34.1m | €36.0m | €37.3m | ▲ 3.8% |
| Contributions10/11 | €26.0m | €26.0m | €26.0m | €26.0m | €30.0m | ▲ 15.4% |
| Capital10 | €26.0m | €26.0m | €26.0m | €26.0m | €30.0m | ▲ 15.4% |
| Issued capital100 | €26.0m | €26.0m | €26.0m | €26.0m | €30.0m | ▲ 15.4% |
| Reserves13 | €2.6m | €2.6m | €2.6m | €2.6m | €3.0m | ▲ 15.4% |
| Non-distributable reserves130/1 | €2.6m | €2.6m | €2.6m | €2.6m | €3.0m | ▲ 15.4% |
| Legal reserve130 | €2.6m | €2.6m | €2.6m | €2.6m | €3.0m | ▲ 15.4% |
| Profit (loss) carried forward14 | €1.8m | €2.4m | €5.5m | €7.4m | €4.3m | ▼ 41.4% |
| Amounts payable17/49 | €24.3m | €26.6m | €18.5m | €18.5m | €18.1m | ▼ 2.3% |
| Amounts payable after more than one year17 | €15.7m | €14.8m | €14.0m | €12.9m | €10.3m | ▼ 20.2% |
| Financial debts170/4 | €14.0m | €13.0m | €12.0m | €11.0m | €8.7m | ▼ 20.9% |
| Other amounts payable178/9 | €1.7m | €1.8m | €2.0m | €1.9m | €1.6m | ▼ 16.0% |
| Amounts payable within one year42/48 | €8.6m | €11.7m | €4.5m | €5.6m | €7.7m | ▲ 39.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €1.2m | - |
| Trade debts44 | €14,002 | €2,580 | €200,000 | €6,861 | €748,907 | ▲ 10,815% |
| Suppliers440/4 | €14,002 | €2,580 | €200,000 | €6,861 | €748,907 | ▲ 10,815% |
| Advances received on contracts in progress46 | €1,100 | €1,100 | - | €100,691 | - | - |
| Taxes, remuneration and social security45 | €447,484 | €305,977 | €248,943 | €162,877 | €182,439 | ▲ 12.0% |
| Taxes450/3 | €447,484 | €305,977 | €248,943 | €162,877 | €182,439 | ▲ 12.0% |
| Other amounts payable47/48 | €8.1m | €11.4m | €4.1m | €5.3m | €5.6m | ▲ 6.1% |
| Accrued charges and deferred income492/3 | €29,840 | €7,460 | €7,460 | €7,460 | €7,460 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €409,632 | €578,249 | €3.1m | €1.9m | €1.3m | ▼ 28.1% |
| + Depreciation and write-downs630 | €722,967 | €725,783 | €540,502 | €481,818 | €488,775 | ▲ 1.4% |
| Operating cash flow (approximation) | €1.1m | €1.3m | €3.7m | €2.4m | €1.8m | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | -€340,207 | -€2.9m | €70,187 | -€2.4m | ▼ 3,511% |
| Change in cash | - | -€149,054 | -€96,145 | €19,628 | €72,327 | ▲ 268% |
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
28-09
State Gazette act
Resignations: Sostrana (director) and Immofonds Belgium (director)Appointments: Lima da Silva Eliseu Samuel (director) and Christine Dehaemers (director)5 facts ▸
- General meeting, 11-09-2026
- Director resignation, Sostrana (director)
- Director resignation, Immofonds Belgium (director)
- Director appointment, Lima da Silva Eliseu Samuel (director)
- Director appointment, Christine Dehaemers (director)
19-08
State Gazette act
Resignations: ZIEGLER Alain (director) and ZIEGLER Charlotte (director)Appointments: Sostrana (director) and Immofonds Belgium (director) · Permanent representative: ZIEGLER Hélène7 facts ▸
- General meeting, 12-06-2026
- Director resignation, ZIEGLER Alain (director)
- Director resignation, ZIEGLER Charlotte (director)
- Director appointment, Sostrana (director)
- Director appointment, Immofonds Belgium (director)
- Permanent representative, ZIEGLER Hélène (permanent representative)
- Permanent representative, ZIEGLER Hélène (permanent representative)
About the unread acts
Of the 19 Belgian State Gazette acts we know for this company, 2 have been read. The other 17 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
Not every act has been read: a resignation may be missing here
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0056/02Y078 | Brussels | 1,597 m² | 1 · 260 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Christine Dehaemers |
|
| Lima da Silva Eliseu Samuel |
|
| Immofonds Belgium |
|
| Sostrana |
|
| ZIEGLER Alain |
|
| ZIEGLER Charlotte |
|
Structure & network
Owners and holdings
1 owner · 7 holdingsChain of control
- LEMAN
- Z IMMO
Highest known parent: LEMAN. The sources do not say who stands above it.
Owners 1
- LEMANparentSourceaccounts LEMAN 202586.56%
Holdings 7
-
62%
-
60.98%
-
31.23%
-
15.38%
-
10.04%
-
10%
-
3.92%
According to the 2025 annual accounts of Z IMMO and those 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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
Recognitions · licences · registrations
Legal Entity Identifier
Identification & contact
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Register as of 30 September 2026 · Peppol Directory
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