IMSTATION
ActiveSummary
IMSTATION has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.33M and a net result of €-297k. Equity is growing by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 45% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability15▼-1
Solvency77▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €310k at 30 days acceptable
Liquidity short (current ratio 0.85 against 1.01 in 2023; short-term debt: 22.9% and cash: 1.4% of total assets), and 47.5% of the assets are financed with debt.
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
52.5%
Return on assets
-2.9%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-297k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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
not confirmed
2024
61 d late
2023
70 d late
2022
60 d late
2021
89 d late
2020
89 d late
2019
69 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€5.33M▼ 5.3%
2023 · €5.63M
2018: €2.90Mlowest in 7 years
2019: €3.00M▲ +3.7% vs 2018
2020: €2.98M▼ -0.6% vs 2019
2021: €3.00M▲ +0.4% vs 2020
2022: €5.88M▲ +96.2% vs 2021highest in 7 years
2023: €5.63M▼ -4.3% vs 2022
2024: €5.33M▼ -5.3% vs 2023
2018 → 2024
Total assets
€10.15M▼ 0.1%
2023 · €10.16M
2018: €3.44M
2019: €3.40M▼ -1.2% vs 2018lowest in 7 years
2020: €5.69M▲ +67.3% vs 2019
2021: €5.68M▼ -0.2% vs 2020
2022: €7.82M▲ +37.7% vs 2021
2023: €10.16M▲ +29.8% vs 2022highest in 7 years
2024: €10.15M▼ -0.1% vs 2023
2018 → 2024
Net result
€-297k▼ 16.5%
2023 · €-255k
2018: €-19k
2019: €106k▲ +656% vs 2018
2020: €-17k▼ -116% vs 2019
2021: €12k▲ +171% vs 2020
2022: €2.88M▲ +23210% vs 2021highest in 7 years
2023: €-255k▼ -109% vs 2022
2024: €-297k▼ -16.5% vs 2023lowest in 7 years
2018 → 2024
Working capital
€-343k
2023 · €16k
2018: €1.07M
2019: €1.09M▲ +1.7% vs 2018
2020: €-823k▼ -176% vs 2019lowest in 7 years
2021: €-743k▲ +9.7% vs 2020
2022: €3.44M▲ +563% vs 2021highest in 7 years
2023: €16k▼ -99.5% vs 2022
2024: €-343k▼ -2310% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.98M-€3.00M▲ 0.4%€5.88M▲ 96.2%€5.63M▼ 4.3%€5.33M▼ 5.3%
2020: €2.98Mlowest in 5 years
2021: €3.00M▲ +0.4% vs 2020
2022: €5.88M▲ +96.2% vs 2021highest in 5 years
2023: €5.63M▼ -4.3% vs 2022
2024: €5.33M▼ -5.3% vs 2023
Operating result€-52k-€23k€-112k€-209k▼ 86.6%€-257k▼ 23.2%
2020: €-52k
2021: €23k▲ +143% vs 2020highest in 5 years
2022: €-112k▼ -598% vs 2021
2023: €-209k▼ -86.6% vs 2022
2024: €-257k▼ -23.2% vs 2023lowest in 5 years
Net result€-17k-€12k€2.88M▲ 23,210%€-255k€-297k▼ 16.5%
2020: €-17k
2021: €12k▲ +171% vs 2020
2022: €2.88M▲ +23210% vs 2021highest in 5 years
2023: €-255k▼ -109% vs 2022
2024: €-297k▼ -16.5% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €257k in 2024 against €209k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.15M
Fixed assets
€8.17M ▼ 1.0%
Current assets
€1.98M ▲ 4.0%
Equity and liabilities €10.15M
Equity
€5.33M ▼ 5.3%
Provisions
€960k =
Debt
€3.86M ▲ 8.2%
Debt's share of the balance-sheet total rises from 35.2% to 38.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-109k▼
2023 · €-87k
Cash flow
€-148k▼
2023 · €-133k
Current ratio
0.85▼
2023 · 1.01
Debt to equity
0.73▲
2023 · 0.64
ROE
-5.6%▼
2023 · -4.5%
ROA
-2.9%▼
2023 · -2.5%
Interest coverage
-0.87▲
2023 · -1.73
Debt ≤ 1 year
€2.32M▲
2023 · €1.89M
Debt > 1 year
€1.54M▼
2023 · €1.67M
Income taxes
€164▼
2023 · €199
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 · 54 lines
Balance sheet
Code20232024
Assets
Total assets20/58€10.16M€10.15M▼
Fixed assets21/28€8.25M€8.17M▼
Tangible fixed assets22/27€4.50M€4.42M▼
Land and buildings22€4.41M€4.35M▼
Furniture and vehicles24€92k€64k▼
Financial fixed assets28€3.76M€3.76M=
Current assets29/58€1.90M€1.98M▲
Amounts receivable within one year40/41€1.85M€1.84M▼
Trade receivables40€74k€32k▼
Other amounts receivable41€1.77M€1.81M▲
Cash at bank and in hand54/58€59k€138k▲
Deferred charges and accrued income490/1€69€3k▲
Equity and liabilities
Total equity and liabilities10/49€10.16M€10.15M▼
Equity10/15€5.63M€5.33M▼
Contributions10/11€93k€93k=
Capital10€93k€93k=
Issued capital100€93k€93k=
Reserves13€3.49M€3.49M=
Non-distributable reserves130/1€9k€9k=
Legal reserve130€9k€9k=
Tax-exempt reserves132€2.88M€2.88M=
Distributable reserves133€598k€598k=
Profit (loss) carried forward14€2.04M€1.75M▼
Provisions and deferred taxes16€960k€960k=
Deferred taxes168€960k€960k=
Amounts payable17/49€3.57M€3.86M▲
Amounts payable after more than one year17€1.67M€1.54M▼
Financial debts170/4€1.67M€1.54M▼
Amounts payable within one year42/48€1.89M€2.32M▲
Current portion of amounts payable after more than one year42€143k€137k▼
Financial debts43€1.02M€2.14M▲
Credit institutions430/8€1.02M€2.14M▲
Trade debts44€2k€10k▲
Suppliers440/4€2k€10k▲
Taxes, remuneration and social security45€6k€8k▲
Taxes450/3€6k€8k▲
Other amounts payable47/48€717k€30k▼
Accrued charges and deferred income492/3€8k€4k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€122k€149k▲
Other operating charges640/8€13k€16k▲
Gross operating margin9900€-74k€-92k▼
Operating profit (loss)9901€-209k€-257k▼
Financial income75/76B€52k€86k▲
Recurring financial income75€44k€86k▲
Non-recurring financial income76B€8k-
Financial charges65/66B€98k€125k▲
Recurring financial charges65€51k€125k▲
Non-recurring financial charges66B€47k-
Profit (loss) for the period before taxes9903€-255k€-297k▼
Income taxes67/77€199€164▼
Profit (loss) for the period9904€-255k€-297k▼
Profit (loss) for the period to be appropriated9905€-255k€-297k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.04M€1.75M▼
Profit (loss) brought forward from the previous period14P€2.30M€2.04M▼
The notes to these accounts (7 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39k | €32k | €99k | €122k | €149k | ▲ 22.4% |
| Other operating charges640/8 | - | €12k | €21k | €13k | €16k | ▲ 23.2% |
| Gross operating margin9900 | €-2k | €67k | €8k | €-74k | €-92k | ▼ 24.4% |
| Operating profit (loss)9901 | €-52k | €23k | €-112k | €-209k | €-257k | ▼ 23.2% |
| Financial income75/76B | - | €36k | €3.98M | €52k | €86k | ▲ 65.1% |
| Recurring financial income75 | €49k | €31k | €32k | €44k | €86k | ▲ 94.4% |
| Non-recurring financial income76B | - | €5k | €3.95M | €8k | - | - |
| Financial charges65/66B | - | €45k | €32k | €98k | €125k | ▲ 28.1% |
| Recurring financial charges65 | €15k | €45k | €32k | €51k | €125k | ▲ 148% |
| Non-recurring financial charges66B | - | - | - | €47k | - | - |
| Profit (loss) for the period before taxes9903 | €-18k | €13k | €3.84M | €-255k | €-297k | ▼ 16.5% |
| Transfer from deferred taxes780 | - | €842 | €7k | - | - | - |
| Transfer to deferred taxes680 | - | - | €960k | - | - | - |
| Income taxes67/77 | - | €2k | €2k | €199 | €164 | ▼ 17.6% |
| Profit (loss) for the period9904 | €-17k | €12k | €2.88M | €-255k | €-297k | ▼ 16.5% |
| Transfer from tax-exempt reserves789 | - | €2k | €14k | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | €2.88M | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-16k | €14k | €16k | €-255k | €-297k | ▼ 16.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.69M | €5.68M | €7.82M | €10.16M | €10.15M | ▼ 0.1% |
| Fixed assets21/28 | €4.59M | €4.66M | €4.31M | €8.25M | €8.17M | ▼ 1.0% |
| Tangible fixed assets22/27 | €2.62M | €2.69M | €2.55M | €4.50M | €4.42M | ▼ 1.8% |
| Land and buildings22 | - | €2.63M | €2.42M | €4.41M | €4.35M | ▼ 1.2% |
| Furniture and vehicles24 | - | €55k | €124k | €92k | €64k | ▼ 30.4% |
| Financial fixed assets28 | €1.97M | €1.97M | €1.77M | €3.76M | €3.76M | = |
| Current assets29/58 | €1.10M | €1.02M | €3.51M | €1.90M | €1.98M | ▲ 4.0% |
| Amounts receivable within one year40/41 | €1.08M | €968k | €1.06M | €1.85M | €1.84M | ▼ 0.3% |
| Trade receivables40 | - | €41k | €62k | €74k | €32k | ▼ 56.6% |
| Other amounts receivable41 | - | €927k | €996k | €1.77M | €1.81M | ▲ 2.0% |
| Cash at bank and in hand54/58 | €7k | €55k | €2.45M | €59k | €138k | ▲ 135% |
| Deferred charges and accrued income490/1 | - | - | - | €69 | €3k | ▲ 3,622% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.69M | €5.68M | €7.82M | €10.16M | €10.15M | ▼ 0.1% |
| Equity10/15 | €2.98M | €3.00M | €5.88M | €5.63M | €5.33M | ▼ 5.3% |
| Contributions10/11 | €93k | €93k | €93k | €93k | €93k | = |
| Capital10 | - | €93k | €93k | €93k | €93k | = |
| Issued capital100 | - | €93k | €93k | €93k | €93k | = |
| Reserves13 | €593k | €605k | €3.49M | €3.49M | €3.49M | = |
| Non-distributable reserves130/1 | - | €9k | €9k | €9k | €9k | = |
| Legal reserve130 | - | €9k | €9k | €9k | €9k | = |
| Tax-exempt reserves132 | - | €14k | €2.88M | €2.88M | €2.88M | = |
| Distributable reserves133 | - | €582k | €598k | €598k | €598k | = |
| Profit (loss) carried forward14 | €2.30M | €2.30M | €2.30M | €2.04M | €1.75M | ▼ 14.5% |
| Provisions and deferred taxes16 | €8k | €7k | €960k | €960k | €960k | = |
| Deferred taxes168 | - | €7k | €960k | €960k | €960k | = |
| Amounts payable17/49 | €2.70M | €2.68M | €983k | €3.57M | €3.86M | ▲ 8.2% |
| Amounts payable after more than one year17 | €771k | €906k | €906k | €1.67M | €1.54M | ▼ 8.2% |
| Financial debts170/4 | - | €906k | €906k | €1.67M | €1.54M | ▼ 8.2% |
| Amounts payable within one year42/48 | €1.92M | €1.77M | €71k | €1.89M | €2.32M | ▲ 23.0% |
| Current portion of amounts payable after more than one year42 | - | €55k | €63k | €143k | €137k | ▼ 4.0% |
| Financial debts43 | - | €1.62M | - | €1.02M | €2.14M | ▲ 109% |
| Credit institutions430/8 | - | €1.62M | - | €1.02M | €2.14M | ▲ 109% |
| Trade debts44 | €27k | €4k | - | €2k | €10k | ▲ 560% |
| Suppliers440/4 | - | €4k | - | €2k | €10k | ▲ 560% |
| Taxes, remuneration and social security45 | - | €14k | €8k | €6k | €8k | ▲ 26.2% |
| Taxes450/3 | - | €14k | €8k | €6k | €8k | ▲ 26.2% |
| Other amounts payable47/48 | - | €77k | - | €717k | €30k | ▼ 95.8% |
| Accrued charges and deferred income492/3 | - | €7k | €6k | €8k | €4k | ▼ 54.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-17k | €12k | €2.88M | €-255k | €-297k | ▼ 16.5% |
| + Depreciation and write-downs630 | €39k | €32k | €99k | €122k | €149k | ▲ 22.4% |
| Operating cash flow (approximation) | €22k | €44k | €2.98M | €-133k | €-148k | ▼ 11.1% |
| Investment in fixed assets (approximation) | - | €-101k | €249k | €-4.06M | €-68k | ▲ 98.3% |
| Change in cash | - | €48k | €2.40M | €-2.39M | €79k | ▲ 103% |
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
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-297k
Net result drops to €-297k, the lowest in the series.
09-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 70 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Highest result since 2018net €2.88M ▲23,210%
Net result €2.88M, the highest in the series.
31-12
Financial
Liquidity times 86current ratio 49.71
Current ratio from 0.58 to 49.71; short-term debt falls from €1.77M to €71k.
31-12
Financial
Equity above €5MEq €5.88M ▲96.2%
2 profitable years in a row build equity to €5.88M.
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 89 days late
2021
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
31-12
Financial
Back to profitnet €106k
Net result €106k after one loss-making year.
Show earlier events
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 51 days late
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 50 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Etterbeek · 1 establishment unit since 1998
Ground area
2,220 m²
Building footprint
363 m²
Volume, LiDAR
4,864 m³
2 parcels, Brussels · tallest building 27.2 m, ±6 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
IMSTATION
since 19982.053.020.935
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21016B0422/00P016 | Brussels | 1,716 m² | 1 · 214 m² | 27.2 m · 6 fl. |
| 21363B0348/00P000 | Brussels | 504 m² | 1 · 149 m² | 16.4 m · 3 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 10,770 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
Founded12-12-1990
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.