IMMO PA44 2
ActiveSummary
The computed 12-month bankruptcy probability of IMMO PA44 2 is 1.7% (moderate). The 2024 annual accounts show equity of €95k and a net result of €68k. Equity is shrinking by ~15.1% per year across the filed fiscal years. The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability65▲+15
Solvency40▼-60
Growth22▼-13
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity tight (current ratio 1.18; short-term debt: 84.8% and cash: 12.2% of total assets), and 84.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 24-06-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
37 d early
2022
42 d early
2021
41 d early
2020
59 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€156k▼ 58.9%
2022 · €379k
2021: €295k
2022: €379k▲ +28.7% vs 2021highest in 3 years
2023: €156k▼ -58.9% vs 2022lowest in 3 years
2021 → 2023
EBIT margin
21.4%▲ 23.6pp
2022 · -2.2%
2021: 95.4%highest in 3 years
2022: -2.2%▼ -102% vs 2021lowest in 3 years
2023: 21.4%▲ +1057% vs 2022
2021 → 2023
Net result
€68k▼ 55.3%
2023 · €153k
2021: €251khighest in 4 years
2022: €49k▼ -80.5% vs 2021lowest in 4 years
2023: €153k▲ +212% vs 2022
2024: €68k▼ -55.3% vs 2023
2021 → 2024
Working capital
€95k▼ 96.8%
2023 · €3.01M
2021: €2.81M
2022: €2.86M▲ +1.7% vs 2021
2023: €3.01M▲ +5.3% vs 2022highest in 4 years
2024: €95k▼ -96.8% vs 2023lowest in 4 years
2021 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Turnover€295k-€379k▲ 28.7%€156k▼ 58.9%
2021: €295k
2022: €379k▲ +28.7% vs 2021highest in 3 years
2023: €156k▼ -58.9% vs 2022lowest in 3 years
Equity€2.81M-€2.86M▲ 1.7%€3.01M▲ 5.3%€95k▼ 96.8%
2021: €2.81M
2022: €2.86M▲ +1.7% vs 2021
2023: €3.01M▲ +5.3% vs 2022highest in 4 years
2024: €95k▼ -96.8% vs 2023lowest in 4 years
Operating result€281k-€-8k€33k€-13k
2021: €281khighest in 4 years
2022: €-8k▼ -103% vs 2021
2023: €33k▲ +493% vs 2022
2024: €-13k▼ -140% vs 2023lowest in 4 years
Net result€251k-€49k▼ 80.5%€153k▲ 212%€68k▼ 55.3%
2021: €251khighest in 4 years
2022: €49k▼ -80.5% vs 2021lowest in 4 years
2023: €153k▲ +212% vs 2022
2024: €68k▼ -55.3% vs 2023
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €13k after €33k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €627k
Equity
€95k ▼ 96.8%
Debt
€532k ▲ 4,393%
Debt's share of the balance-sheet total rises from 0.4% to 84.8%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.18
Debt to equity
5.60▲
2023 · 0.00
ROE
71.9%▲
2023 · 5.1%
ROA
10.9%▲
2023 · 5.0%
Debt ≤ 1 year
€532k▲
2023 · €12k
Income taxes
€26k▼
2023 · €52k
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 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€3.03M€627k▼
Current assets29/58€3.03M€627k▼
Amounts receivable within one year40/41€2.93M€550k▼
Other amounts receivable41€2.93M€550k▼
Cash at bank and in hand54/58€96k€76k▼
Equity and liabilities
Total equity and liabilities10/49€3.03M€627k▼
Equity10/15€3.01M€95k▼
Contributions10/11€2.42M€62k▼
Capital10€2.42M€62k▼
Issued capital100€2.42M€62k▼
Reserves13€130k€6k▼
Non-distributable reserves130/1€130k€6k▼
Legal reserve130€130k€6k▼
Profit (loss) carried forward14€459k€27k▼
Amounts payable17/49€12k€532k▲
Amounts payable within one year42/48€12k€532k▲
Trade debts44€9k€6k▼
Suppliers440/4€9k€6k▼
Taxes, remuneration and social security45€2k€26k▲
Taxes450/3€2k€26k▲
Other amounts payable47/48-€500k
Income statement
Code20232024
Turnover70€156k-
Goods, raw materials, services and sundry goods60/61€120k€6k▼
Other operating charges640/8€2k€7k▲
Gross operating margin9900€35k€-6k▼
Operating profit (loss)9901€33k€-13k▼
Financial income75/76B€173k€108k▼
Recurring financial income75€173k€108k▼
Financial charges65/66B€1k€800▼
Recurring financial charges65€1k€800▼
Profit (loss) for the period before taxes9903€205k€94k▼
Income taxes67/77€52k€26k▼
Profit (loss) for the period9904€153k€68k▼
Profit (loss) for the period to be appropriated9905€153k€68k▼
Appropriation of the result
Profit (loss) to be appropriated9906€467k€527k▲
Profit (loss) brought forward from the previous period14P€314k€459k▲
Transfer to equity691/2€8k-
To the legal reserve6920€8k-
Profit to be distributed694/7-€500k
Return on contributions (dividend)694-€500k
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | €295k | - | - | - | - |
| Turnover70 | €295k | €379k | €156k | - | - |
| Operating charges60/66A | €13k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €386k | €120k | €6k | ▼ 94.7% |
| Goods for resale, raw materials and consumables60 | €-53k | - | - | - | - |
| Purchases600/8 | €80k | - | - | - | - |
| Change in stocks: decrease (increase)609 | €-133k | - | - | - | - |
| Services and other goods61 | €64k | - | - | - | - |
| Other operating charges640/8 | €2k | €2k | €2k | €7k | ▲ 262% |
| Gross operating margin9900 | - | €-7k | €35k | €-6k | ▼ 118% |
| Operating profit (loss)9901 | €281k | €-8k | €33k | €-13k | ▼ 140% |
| Financial income75/76B | €70k | €77k | €173k | €108k | ▼ 37.7% |
| Recurring financial income75 | €70k | €77k | €173k | €108k | ▼ 37.7% |
| Income from current assets751 | €70k | - | - | - | - |
| Other financial income752/9 | €8 | - | - | - | - |
| Financial charges65/66B | €8k | €2k | €1k | €800 | ▼ 41.7% |
| Recurring financial charges65 | €8k | €2k | €1k | €800 | ▼ 41.7% |
| Other financial charges652/9 | €8k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €344k | €67k | €205k | €94k | ▼ 54.2% |
| Income taxes67/77 | €92k | €18k | €52k | €26k | ▼ 51.3% |
| Taxes670/3 | €92k | - | - | - | - |
| Profit (loss) for the period9904 | €251k | €49k | €153k | €68k | ▼ 55.3% |
| Profit (loss) for the period to be appropriated9905 | €251k | €49k | €153k | €68k | ▼ 55.3% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.99M | €3.03M | €3.03M | €627k | ▼ 79.3% |
| Current assets29/58 | €2.99M | €3.03M | €3.03M | €627k | ▼ 79.3% |
| Stocks and contracts in progress3 | €537k | €133k | - | - | - |
| Stocks30/36 | €537k | €133k | - | - | - |
| Property held for sale35 | €537k | - | - | - | - |
| Amounts receivable within one year40/41 | €2.30M | €2.68M | €2.93M | €550k | ▼ 81.2% |
| Other amounts receivable41 | €2.30M | €2.68M | €2.93M | €550k | ▼ 81.2% |
| Cash at bank and in hand54/58 | €159k | €219k | €96k | €76k | ▼ 20.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.99M | €3.03M | €3.03M | €627k | ▼ 79.3% |
| Equity10/15 | €2.81M | €2.86M | €3.01M | €95k | ▼ 96.8% |
| Contributions10/11 | €2.42M | €2.42M | €2.42M | €62k | ▼ 97.5% |
| Capital10 | €2.42M | €2.42M | €2.42M | €62k | ▼ 97.5% |
| Issued capital100 | €2.42M | €2.42M | €2.42M | €62k | ▼ 97.5% |
| Reserves13 | €120k | €123k | €130k | €6k | ▼ 95.3% |
| Non-distributable reserves130/1 | €120k | €123k | €130k | €6k | ▼ 95.3% |
| Legal reserve130 | €120k | €123k | €130k | €6k | ▼ 95.3% |
| Profit (loss) carried forward14 | €268k | €314k | €459k | €27k | ▼ 94.0% |
| Amounts payable17/49 | €182k | €166k | €12k | €532k | ▲ 4,393% |
| Amounts payable within one year42/48 | €182k | €166k | €12k | €532k | ▲ 4,393% |
| Trade debts44 | €91k | €57k | €9k | €6k | ▼ 34.8% |
| Suppliers440/4 | €91k | €57k | €9k | €6k | ▼ 34.8% |
| Taxes, remuneration and social security45 | €92k | €110k | €2k | €26k | ▲ 927% |
| Taxes450/3 | €92k | €110k | €2k | €26k | ▲ 927% |
| Other amounts payable47/48 | - | - | - | €500k | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €251k | €49k | €153k | €68k | ▼ 55.3% |
| Operating cash flow (approximation) | €251k | €49k | €153k | €68k | ▼ 55.3% |
| Change in cash | - | €60k | €-122k | €-20k | ▲ 83.8% |
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
2026
28-07
State Gazette act
Resignation: MSQ SRL (class B director)Appointment: ACH Consulting SRL (class B director) · Power of attorney · Mandate compensation5 facts ▸
State Gazette act
Resignation: MSQ SRL (class B director)
Appointment: ACH Consulting SRL (class B director) · Power of attorney · Mandate compensation5 facts ▸
- General meeting, 03/06/2026
- Director resignation, MSQ SRL (class B director)
- Power of attorney, MSQ SRL
- Director appointment, ACH Consulting SRL (class B director)
- Mandate compensation, ACH Consulting SRL
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity times 14current ratio 255.63
Current ratio from 18.22 to 255.63; short-term debt falls from €166k to €12k.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €49k ▼80.5%
Net result drops to €49k, the lowest in the series; recovery starts the following year.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
04-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 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
ACH CONSULTING
CurrentClass B director · since 03-06-2026 · Private limited company
03-06-2026
ACH CONSULTING: Appointed as Class B director
03-06-2026
MSQ SRL: Resigned as Class B director
Not every act has been read: a resignation may be missing here
13 of this company's 14 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, Oudergem · 1 establishment unit since 2012
Ground area
1.1 ha
Building footprint
3,936 m²
Volume, LiDAR
58,714 m³
2 parcels, Brussels · tallest building 27.6 m, ±7 floors. Linked by address, not a title deed.
57
companies at this address
See who is registered here
1 establishment unit
Herrmann-Debrouxlaan 42, 1160 Oudergem
since 20122.209.242.801
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0498/00B000 | Brussels | 5,641 m² | 1 · 1,517 m² | 25.8 m · 5 fl. |
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Connections & network
3 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
Shared corporate director
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Shared corporate director
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Identification & contact
Identification
Legal formPublic limited company
Founded04-05-2012
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.