IMMOBEL Project Management
ActiveSummary
IMMOBEL Project Management has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-4.83M) and a net result of €-4.62M. Equity is shrinking by ~48.5% per year across the filed fiscal years. Its solvency ranks better than 11% of 4809 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability18▼-19
Solvency17▼-8
Growth50▲+28
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.33 against 1.56 in 2023; short-term debt: 75% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven 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 →
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 · 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 2024Solvency, return and age of the figures
Solvency
-8.3%
Return on assets
-8%
Age of the figures
21 mo
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-4.83M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-07-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
23 d early
2023
29 d early
2022
24 d late
2021
22 d late
2020
6 d late
2019
66 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€13.41M▲ 1,137%
2020 · €1.08M
2018: €5.62M
2019: €8.86M▲ +57.7% vs 2018
2020: €1.08M▼ -87.8% vs 2019lowest value
2024: €13.41Mhighest value
2018 → 2024
EBIT margin
-24.7%▲ 202.9pp
2020 · -227.6%
2018: 35.7%highest value
2019: 9.2%▼ -74.3% vs 2018
2020: -227.6%▼ -2577% vs 2019lowest value
2024: -24.7%
2018 → 2024
Net result
€-4.62M▼ 2,695%
2023 · €-165k
2018: €1.40M
2019: €2.26M▲ +61.4% vs 2018highest in 7 years
2020: €-2.34M▼ -203% vs 2019
2021: €61k▲ +103% vs 2020
2022: €-5.26M▼ -8770% vs 2021lowest in 7 years
2023: €-165k▲ +96.9% vs 2022
2024: €-4.62M▼ -2695% vs 2023
2018 → 2024
Working capital
€14.35M▼ 24.8%
2023 · €19.08M
2018: €2.79M
2019: €7.39M▲ +165% vs 2018
2020: €5.05M▼ -31.6% vs 2019
2021: €5.22M▲ +3.3% vs 2020
2022: €-35k▼ -101% vs 2021lowest in 7 years
2023: €19.08M▲ +55002% vs 2022highest in 7 years
2024: €14.35M▼ -24.8% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€1.08M-€13.41M
2020: €1.08M
2024: €13.41M
Equity€5.15M-€5.21M▲ 1.2%€-45k€-210k▼ 370%€-4.83M▼ 2,200%
2020: €5.15M
2021: €5.21M▲ +1.2% vs 2020highest in 5 years
2022: €-45k▼ -101% vs 2021
2023: €-210k▼ -370% vs 2022
2024: €-4.83M▼ -2200% vs 2023lowest in 5 years
Operating result€-2.47M-€79k€-5.25M€1.40M€-3.31M
2020: €-2.47M
2021: €79k▲ +103% vs 2020
2022: €-5.25M▼ -6776% vs 2021lowest in 5 years
2023: €1.40M▲ +127% vs 2022highest in 5 years
2024: €-3.31M▼ -337% vs 2023
Net result€-2.34M-€61k€-5.26M€-165k▲ 96.9%€-4.62M▼ 2,695%
2020: €-2.34M
2021: €61k▲ +103% vs 2020highest in 5 years
2022: €-5.26M▼ -8770% vs 2021lowest in 5 years
2023: €-165k▲ +96.9% vs 2022
2024: €-4.62M▼ -2695% vs 2023
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €3.31M after €1.40M in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €57.92M
Fixed assets
€100k =
Current assets
€57.82M ▲ 8.5%
Key figures and ratios
Solvency
-8.3%▼
2023 · -0.4%
Current ratio
1.33▼
2023 · 1.56
Quick ratio
0.25▲
2023 · 0.23
Debt to equity
-12.98
ROA
-8.0%▼
2023 · -0.3%
Debt
€62.75M▲
2023 · €53.61M
Debt ≤ 1 year
€43.47M▲
2023 · €34.21M
Debt > 1 year
€19.29M▼
2023 · €19.39M
Income taxes
€-130k▼
2023 · €136k
Staff costs
€1.69M▲
2023 · €1.51M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 70 lines
Balance sheet
Code20232024
Assets
Total assets20/58€53.40M€57.92M▲
Fixed assets21/28€100k€100k=
Financial fixed assets28€100k€100k=
Affiliated companies280/1-€100k
Participating interests280-€100k
Current assets29/58€53.30M€57.82M▲
Stocks and contracts in progress3€45.40M€46.88M▲
Stocks30/36€45.40M€46.88M▲
Property held for sale35-€40.40M
Advance payments36-€6.48M
Amounts receivable within one year40/41€7.68M€10.73M▲
Trade receivables40€6.43M€8.45M▲
Other amounts receivable41€1.25M€2.28M▲
Cash at bank and in hand54/58€0-
Deferred charges and accrued income490/1€219k€219k=
Equity and liabilities
Total equity and liabilities10/49€53.40M€57.92M▲
Equity10/15€-210k€-4.83M▼
Contributions10/11€101k€101k=
Capital10€101k€101k=
Issued capital100€101k€101k=
Reserves13€5.11M€5.11M=
Non-distributable reserves130/1€10k€10k=
Legal reserve130€10k€10k=
Tax-exempt reserves132€358k€358k=
Distributable reserves133€4.74M€4.74M=
Profit (loss) carried forward14€-5.42M€-10.05M▼
Amounts payable17/49€53.61M€62.75M▲
Amounts payable after more than one year17€19.39M€19.29M▼
Other amounts payable178/9€19.39M€19.29M▼
Amounts payable within one year42/48€34.21M€43.47M▲
Trade debts44€5.76M€14.76M▲
Suppliers440/4€5.76M€14.76M▲
Advances received on contracts in progress46€28.08M€28.44M▲
Taxes, remuneration and social security45€377k€271k▼
Taxes450/3€271k€4k▼
Remuneration and social security454/9€106k€267k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€0-
Income statement
Code20232024
Operating income70/76A-€13.66M
Turnover70-€13.41M
Change in stocks of work in progress, finished goods and contracts in progress71-€0
Other operating income74-€4k
Non-recurring operating income76A€1.42M€247k▼
Operating charges60/66A-€16.98M
Goods for resale, raw materials and consumables60-€8.12M
Purchases600/8-€9.59M
Change in stocks: decrease (increase)609-€-1.47M
Services and other goods61-€7.16M
Remuneration, social security and pensions62€1.51M€1.69M▲
Other operating charges640/8€3k€9k▲
Gross operating margin9900€2.91M-
Operating profit (loss)9901€1.40M€-3.31M▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€1.43M€1.44M▲
Recurring financial charges65€1.43M€1.44M▲
Debt charges650-€1.44M
Other financial charges652/9-€406
Profit (loss) for the period before taxes9903€-30k€-4.75M▼
Income taxes67/77€136k€-130k▼
Taxes670/3-€0
Tax adjustments and reversals of tax provisions77-€130k
Profit (loss) for the period9904€-165k€-4.62M▼
Transfer from tax-exempt reserves789€452k€0▼
Profit (loss) for the period to be appropriated9905€287k€-4.62M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-4.97M€-10.05M▼
Profit (loss) brought forward from the previous period14P€-5.26M€-5.42M▼
Transfer to equity691/2€452k€0▼
To other reserves6921€452k€0▼
Social balance
Average headcount (FTE)908717.318.1▲
The notes to these accounts (33 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €13.66M | - |
| Turnover70 | €1.08M | - | - | - | €13.41M | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | €0 | - |
| Other operating income74 | - | - | - | - | €4k | - |
| Non-recurring operating income76A | - | €605k | €127k | €1.42M | €247k | ▼ 82.6% |
| Operating charges60/66A | - | - | - | - | €16.98M | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €8.12M | - |
| Purchases600/8 | - | - | - | - | €9.59M | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | €-1.47M | - |
| Services and other goods61 | - | - | - | - | €7.16M | - |
| Remuneration, social security and pensions62 | - | €831k | €899k | €1.51M | €1.69M | ▲ 11.4% |
| Other operating charges640/8 | - | €1k | €376k | €3k | €9k | ▲ 231% |
| Gross operating margin9900 | - | €911k | €-3.97M | €2.91M | - | - |
| Operating profit (loss)9901 | €-2.47M | €79k | €-5.25M | €1.40M | €-3.31M | ▼ 337% |
| Financial income75/76B | - | €34k | €10k | €0 | - | - |
| Recurring financial income75 | €140k | €34k | €10k | €0 | - | - |
| Financial charges65/66B | - | €50k | €21k | €1.43M | €1.44M | ▲ 0.9% |
| Recurring financial charges65 | €10k | €50k | €21k | €1.43M | €1.44M | ▲ 0.9% |
| Debt charges650 | - | - | - | - | €1.44M | - |
| Other financial charges652/9 | - | - | - | - | €406 | - |
| Profit (loss) for the period before taxes9903 | €-2.34M | €63k | €-5.26M | €-30k | €-4.75M | ▼ 15,864% |
| Income taxes67/77 | €2k | €2k | €2k | €136k | €-130k | ▼ 196% |
| Taxes670/3 | - | - | - | - | €0 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €130k | - |
| Profit (loss) for the period9904 | €-2.34M | €61k | €-5.26M | €-165k | €-4.62M | ▼ 2,695% |
| Transfer from tax-exempt reserves789 | - | - | - | €452k | €0 | ▼ 100% |
| Transfer to tax-exempt reserves689 | - | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-2.70M | €61k | €-5.26M | €287k | €-4.62M | ▼ 1,713% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26.66M | €38.56M | €49.83M | €53.40M | €57.92M | ▲ 8.5% |
| Fixed assets21/28 | €100k | €100k | €100k | €100k | €100k | = |
| Financial fixed assets28 | €100k | €100k | €100k | €100k | €100k | = |
| Affiliated companies280/1 | - | - | - | - | €100k | - |
| Participating interests280 | - | - | - | - | €100k | - |
| Current assets29/58 | €26.56M | €38.46M | €49.73M | €53.30M | €57.82M | ▲ 8.5% |
| Stocks and contracts in progress3 | €10.40M | €21.84M | €30.79M | €45.40M | €46.88M | ▲ 3.2% |
| Stocks30/36 | - | €21.84M | €30.79M | €45.40M | €46.88M | ▲ 3.2% |
| Property held for sale35 | - | - | - | - | €40.40M | - |
| Advance payments36 | - | - | - | - | €6.48M | - |
| Amounts receivable within one year40/41 | €15.63M | €14.30M | €9.62M | €7.68M | €10.73M | ▲ 39.7% |
| Trade receivables40 | - | €10.60M | €6.30M | €6.43M | €8.45M | ▲ 31.4% |
| Other amounts receivable41 | - | €3.70M | €3.33M | €1.25M | €2.28M | ▲ 82.5% |
| Cash at bank and in hand54/58 | €449k | €2.24M | €9.23M | €0 | - | - |
| Deferred charges and accrued income490/1 | - | €85k | €85k | €219k | €219k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26.66M | €38.56M | €49.83M | €53.40M | €57.92M | ▲ 8.5% |
| Equity10/15 | €5.15M | €5.21M | €-45k | €-210k | €-4.83M | ▼ 2,200% |
| Contributions10/11 | €101k | €101k | €101k | €101k | €101k | = |
| Capital10 | - | €101k | €101k | €101k | €101k | = |
| Issued capital100 | - | €101k | €101k | €101k | €101k | = |
| Reserves13 | €7.75M | €5.11M | €5.11M | €5.11M | €5.11M | = |
| Non-distributable reserves130/1 | - | €10k | €10k | €10k | €10k | = |
| Legal reserve130 | - | €10k | €10k | €10k | €10k | = |
| Tax-exempt reserves132 | - | €1.14M | €810k | €358k | €358k | = |
| Distributable reserves133 | - | €3.96M | €4.29M | €4.74M | €4.74M | = |
| Profit (loss) carried forward14 | €-2.70M | €0 | €-5.26M | €-5.42M | €-10.05M | ▼ 85.2% |
| Amounts payable17/49 | €21.51M | €33.35M | €49.87M | €53.61M | €62.75M | ▲ 17.1% |
| Amounts payable after more than one year17 | - | - | - | €19.39M | €19.29M | ▼ 0.6% |
| Other amounts payable178/9 | - | - | - | €19.39M | €19.29M | ▼ 0.6% |
| Amounts payable within one year42/48 | €21.51M | €33.25M | €49.76M | €34.21M | €43.47M | ▲ 27.0% |
| Trade debts44 | €8.78M | €12.00M | €22.28M | €5.76M | €14.76M | ▲ 156% |
| Suppliers440/4 | - | €12.00M | €22.28M | €5.76M | €14.76M | ▲ 156% |
| Advances received on contracts in progress46 | - | €13.61M | €19.81M | €28.08M | €28.44M | ▲ 1.3% |
| Taxes, remuneration and social security45 | - | €134k | €168k | €377k | €271k | ▼ 28.0% |
| Taxes450/3 | - | €0 | - | €271k | €4k | ▼ 98.6% |
| Remuneration and social security454/9 | - | €134k | €168k | €106k | €267k | ▲ 153% |
| Other amounts payable47/48 | - | €7.50M | €7.50M | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €105k | €110k | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2.34M | €61k | €-5.26M | €-165k | €-4.62M | ▼ 2,695% |
| Operating cash flow (approximation) | €-2.34M | €61k | €-5.26M | €-165k | €-4.62M | ▼ 2,695% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1.79M | €6.98M | €-9.23M | - | - |
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
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
31-12
Financial
Weakest financial yearnet €-5.26M
Net result drops to €-5.26M, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 22 days late
2021
31-12
Financial
Back to profitnet €61k
Net result €61k after one loss-making year.
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 6 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 66 days late
2019
31-12
Financial
Highest result since 2018net €2.26M ▲61.4%
Net result €2.26M, the highest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 43 days late
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
10-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2010
17-02
State Gazette act
General meeting · Director resignation
Director appointment · Auditor appointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
20 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, Brussel · 1 establishment unit since 2001
Ground area
6,482 m²
Building footprint
4,827 m²
Volume, LiDAR
188,668 m³
Parcel 21812N1468/00B000, Brussels · tallest building 74.9 m, ±8 floors. Linked by address, not a title deed.
105
companies at this address
See who is registered here
1 establishment unit
Anspachlaan 1, 1000 Brussel
since 20012.095.231.177
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1468/00B000 | Brussels | 6,482 m² | 1 · 4,827 m² | 74.9 m · 8 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.
Structure & network
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
controls
IMMOBEL Project ManagementBE 0475.729.174
Recognitions · licences · registrations
Legal Entity Identifier
549300WWKIM66DPS4H89
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 1,800 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-09-2001
Fiscal year end31-12
Abbreviation NL
IMMOBEL P.M.
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.