IMMO ACTION
ActiveSummary
IMMO ACTION has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16.74M and a net result of €-1.21M. Equity is growing by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability42▼-15
Solvency57▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €950k at 30 days acceptable
Liquidity short (current ratio 0.51 against 0.93 in 2024; short-term debt: 24.1% and cash: 0.4% of total assets), and 68.1% of the assets are financed with debt.
Credit advice for your own amount and term
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
Sector 68
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.9%
Return on assets
-2.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-09-2026, 48 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
48 d late
2024
44 d early
2023
37 d early
2022
7 d late
2021
86 d early
2020
45 d early
2019
57 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-1.21M
2024 · €518k
2018: €890
2019: €-40k
2020: €496k
2021: €286k
2022: €213k
2023: €-31k
2024: €518k
2018 → 2025
Working capital
€-6.15M▼ 903%
2024 · €-614k
2018: €-1.44M
2019: €-1.78M
2020: €-4.73M
2021: €-1.84M
2022: €-1.91M
2023: €-2.83M
2024: €-614k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€17.25M-€17.46M▲ 1.2%€17.43M▼ 0.2%€17.95M▲ 3.0%€16.74M▼ 6.8%
Operating result€639k-€560k▼ 12.4%€367k▼ 34.5%€1.56M▲ 326%€285k▼ 81.8%
Net result€286k-€213k▼ 25.5%€-31k€518k€-1.21M
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 82% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52.54M
Fixed assets
€46.04M ▲ 3.5%
Current assets
€6.50M ▼ 26.0%
Equity and liabilities €52.54M
Equity
€16.74M ▼ 6.8%
Provisions
€220k ▼ 7.1%
Debt
€35.59M ▲ 1.5%
Debt's share of the balance-sheet total rises from 65.9% to 67.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.84M▼
2024 · €3.82M
Cash flow
€1.34M▼
2024 · €2.77M
Current ratio
0.51▼
2024 · 0.93
Debt to equity
2.13▲
2024 · 1.95
ROE
-7.2%▼
2024 · 2.9%
ROA
-2.3%▼
2024 · 1.0%
Interest coverage
3.09▼
2024 · 4.39
Debt ≤ 1 year
€12.66M▲
2024 · €9.40M
Debt > 1 year
€22.88M▼
2024 · €25.63M
Income taxes
€5k▼
2024 · €314k
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 · 2025 against 2024 · 60 lines
Balance sheet
Code20242025
Assets
Total assets20/58€53.26M€52.54M▼
Fixed assets21/28€44.47M€46.04M▲
Tangible fixed assets22/27€39.84M€41.41M▲
Land and buildings22€34.94M€36.75M▲
Plant, machinery and equipment23€1.03M€1.04M▲
Furniture and vehicles24€145k€71k▼
Leasing and similar rights25€3.73M€3.55M▼
Financial fixed assets28€4.63M€4.63M=
Current assets29/58€8.79M€6.50M▼
Amounts receivable after more than one year29€2.10M€2.10M=
Other amounts receivable291€2.10M€2.10M=
Amounts receivable within one year40/41€3.61M€4.18M▲
Trade receivables40€1.21M€61k▼
Other amounts receivable41€2.40M€4.12M▲
Cash at bank and in hand54/58€3.06M€203k▼
Deferred charges and accrued income490/1€10k€12k▲
Equity and liabilities
Total equity and liabilities10/49€53.26M€52.54M▼
Equity10/15€17.95M€16.74M▼
Contributions10/11€16.00M€16.00M=
Capital10€16.00M€16.00M=
Issued capital100€16.00M€16.00M=
Reserves13€1.12M€1.07M▼
Non-distributable reserves130/1€412k€412k=
Legal reserve130€412k€412k=
Tax-exempt reserves132€709k€659k▼
Profit (loss) carried forward14€830k€-333k▼
Provisions and deferred taxes16€236k€220k▼
Deferred taxes168€236k€220k▼
Amounts payable17/49€35.07M€35.59M▲
Amounts payable after more than one year17€25.63M€22.88M▼
Financial debts170/4€25.43M€22.68M▼
Other amounts payable178/9€202k€202k=
Amounts payable within one year42/48€9.40M€12.66M▲
Current portion of amounts payable after more than one year42€2.72M€2.91M▲
Trade debts44€656k€843k▲
Suppliers440/4€656k€843k▲
Taxes, remuneration and social security45€410k€349k▼
Taxes450/3€410k€349k▼
Other amounts payable47/48€5.61M€8.55M▲
Accrued charges and deferred income492/3€36k€48k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.26M€2.55M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€729k
Other operating charges640/8€483k€406k▼
Gross operating margin9900€4.30M€3.97M▼
Operating profit (loss)9901€1.56M€285k▼
Financial income75/76B€121k€80k▼
Recurring financial income75€121k€80k▼
Financial charges65/66B€870k€1.59M▲
Recurring financial charges65€870k€919k▲
Non-recurring financial charges66B-€671k
Profit (loss) for the period before taxes9903€815k€-1.22M▼
Transfer from deferred taxes780€17k€17k=
Income taxes67/77€314k€5k▼
Profit (loss) for the period9904€518k€-1.21M▼
Transfer from tax-exempt reserves789€50k€50k=
Profit (loss) for the period to be appropriated9905€568k€-1.16M▼
Appropriation of the result
Profit (loss) to be appropriated9906€858k€-333k▼
Profit (loss) brought forward from the previous period14P€291k€830k▲
Transfer to equity691/2€28k-
To the legal reserve6920€28k-
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 48 days late
07-08
State Gazette act
Reappointments: Hélène ZIEGLER, Charlotte ZIEGLER and Alain ZIEGLERAppointment: Hélène ZIEGLER (managing director) · Resignation: Alain ZIEGLER (chair of the board)8 facts ▸
State Gazette act
Reappointments: Hélène ZIEGLER, Charlotte ZIEGLER and Alain ZIEGLER
Appointment: Hélène ZIEGLER (managing director) · Resignation: Alain ZIEGLER (chair of the board)8 facts ▸
- General meeting, 27 juli 2026
- Director reappointment, Hélène ZIEGLER (director)
- Director reappointment, Charlotte ZIEGLER (director)
- Director reappointment, Alain ZIEGLER (director)
- Board meeting, 27 juli 2026
- Director appointment, Hélène ZIEGLER (managing director)
- Director appointment, Hélène ZIEGLER (chair of the board)
- Director resignation, Alain ZIEGLER (chair of the board)
2025
31-12
Financial
Weakest financial yearnet €-1.21M ▼334%
Net result drops to €-1.21M, the lowest in the series.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €518k
Net result €518k after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 7 days late
2022
06-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €496k
Net result €496k after one loss-making year.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26351444). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Hélène ZIEGLER
CurrentManaging director · since 07-08-2026
Alain ZIEGLER
CurrentDirector
Charlotte ZIEGLER
CurrentDirector
07-08-2026
Hélène ZIEGLER: Appointed as Managing director
07-08-2026
Hélène ZIEGLER: Appointed as Chair of the board
07-08-2026
Alain ZIEGLER: Resigned as Chair of the board
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Montjoielaan 1001180 UkkelGround area
2,706 m²
Building footprint
433 m²
Volume, LiDAR
2,972 m³
2 parcels, Brussels, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
IMMO ACTION
since 20042.137.660.165
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0056/02Y078 | Brussels | 1,597 m² | 1 · 260 m² | 11.5 m · 3 fl. |
| 41024B0080/00K000 | Flanders | 1,109 m² | 1 · 173 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
549300T9PMPOG1XI1071
Similar companies · same sector, comparable size
GROEP ADC
BE 0889.701.717
Tongeren-Borgloon · Eq €16,730,427
CCN Office A1
BE 0790.530.006
Brussel · Eq €16,826,364
TENVA INVESTMENTS
BE 0506.803.521
Machelen (Brab.) · Eq €16,845,239
De Watering
BE 0411.986.120
Mol · Eq €16,854,742
NINIA
BE 0869.651.619
Brussel · Eq €16,599,664
Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 1,353 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.