ACTIVE

IMMODEM

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Financial year 2025 · closed on 31/12/2025

Net result

97,9 k €

+12.9% YoY

Gross margin

216,6 k €

+5.0% YoY

Equity

1,3 M €

+8.1% YoY

What does IMMODEM do?

IMMODEM is a Public limited company incorporated in 1989. Its main activity is: Development of building projects. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.660.445

Incorporation

26/01/1989

Legal form

Public limited company

Registered office

Boulevard d'Avroy 19
4000 Liège · WallonieSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70111Activities of head offices

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2009
Income statement
Gross margin	216,6 k €	+5.0%	206,4 k €	+6.8%	193,3 k €	-1.8%	196,9 k €	+12.0%	175,7 k €	+4.5%	168,1 k €	-17.5%	203,9 k €	-3.3%	210,9 k €	+6.0%	199 k €	+23.3%	161,4 k €	+23.1%	131,1 k €	+45.6%	90,1 k €	-42.1%	155,5 k €	-28.0%	215,8 k €	+52.9%	141,1 k €
EBITDA	146,4 k €	+5.9%	138,3 k €	+8.4%	127,5 k €	-5.2%	134,5 k €	+17.1%	114,8 k €	+6.6%	107,7 k €	-25.4%	144,5 k €	-1.5%	146,7 k €	+4.3%	140,6 k €	+35.1%	104,1 k €	+40.3%	74,2 k €	+422%	-23 k €	-134%	66,8 k €	-54.4%	146,4 k €	+80.4%	81,2 k €
Operating result	132,6 k €	+14.2%	116,1 k €	+10.0%	105,6 k €	-3.6%	109,5 k €	+54.6%	70,8 k €	+11.2%	63,7 k €	-36.7%	100,6 k €	-3.3%	104 k €	+7.8%	96,4 k €	+60.0%	60,3 k €	+166%	22,6 k €	+134%	-65,8 k €	-408%	21,4 k €	-80.0%	106,8 k €	+221%	33,3 k €
Net result	97,9 k €	+12.9%	86,8 k €	+12.9%	76,9 k €	-41.7%	131,9 k €	+156%	51,4 k €	+22.2%	42,1 k €	-43.0%	73,8 k €	+4.9%	70,4 k €	+4.9%	67,1 k €	+237%	19,9 k €	-70.3%	67 k €	+40.5%	47,7 k €	+87.2%	25,5 k €	-69.3%	82,9 k €	-35.2%	128 k €
Balance sheet
Equity	1,3 M €	+8.1%	1,2 M €	+7.7%	1,1 M €	+7.4%	1 M €	+14.4%	913,4 k €	+6.0%	862 k €	-34.7%	1,3 M €	+5.9%	1,2 M €	+6.0%	1,2 M €	-31.3%	1,7 M €	+1.2%	1,7 M €	+4.1%	1,6 M €	+3.0%	1,6 M €	+1.6%	1,6 M €	-21.6%	2 M €
Total assets	1,3 M €	+8.7%	1,2 M €	-0.6%	1,2 M €	+9.2%	1,1 M €	+19.8%	948,1 k €	-31.9%	1,4 M €	+3.2%	1,4 M €	+2.1%	1,3 M €	+6.4%	1,2 M €	-29.0%	1,8 M €	-0.5%	1,8 M €	+4.5%	1,7 M €	+1.4%	1,7 M €	-2.3%	1,7 M €	-24.4%	2,2 M €
Cash	914,6 k €	+15.1%	794,6 k €	+1.4%	783,9 k €	+18.7%	660,5 k €	+50.6%	438,5 k €	-9.7%	485,6 k €	+24.6%	389,6 k €	+20.2%	324,3 k €	-39.7%	537,8 k €	-45.7%	991 k €	+37.3%	721,5 k €	+11.7%	645,9 k €	+40.1%	461 k €	-30.5%	663,8 k €	+155%	259,9 k €
Debts	25 k €	+55.5%	16,1 k €	-85.6%	111,9 k €	+33.5%	83,8 k €	+183%	29,6 k €	-94.4%	530,9 k €	+1663%	30,1 k €	-60.6%	76,4 k €	+13.8%	67,1 k €	+72.1%	39 k €	-39.8%	64,8 k €	+8.6%	59,6 k €	-28.3%	83,2 k €	-43.5%	147,2 k €	-44.6%	265,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 17 ended

Active mandates

EVELYN DEMARCHE

Director · since 14 mai 2024 · until 30 juin 2030

Active

MARIE-FRANCE DEMARCHE

Director · since 14 mai 2024 · until 30 juin 2030

Active

JEAN-PHILIPP SINCLAIR

Director · since 22 juin 2023 · until 30 juin 2029

Active

NATACHA LUYCKX

Director · since 22 juin 2023 · until 30 juin 2029

Active

Ended mandates

JEAN-PHILIPPE SINCLAIR

Director · since 22 juin 2023 · until 22 juin 2029

Ended

JEAN-PHILIPPE SINCLAIR

Director · since 22 juin 2023 · until 30 juin 2029

Ended

NATACHA LUYCKX

Director · since 22 juin 2023 · until 22 juin 2029

Ended

JEAN-PHILIPPE SINCLAIR

Director · since 31 mai 2023 · until 31 mai 2029

Ended

At this address

Other companies at this address

Company	CBE no.
Association des Copropriétaires Résidence Lavandou à Liège Boulevard d'Avroy 19● Active	0887.926.617
COMPAGNIE DE DEVELOPPEMENT IMMOBILIER● Active	0416.257.484
DEMARCHE IMMOBILIERE● Active	0862.051.569
Elde● Active	0406.164.536
SART-TILMAN PROPERTIES● Active	0757.717.874
Société belge immobilière et de Lotissements● Active	0404.420.813
SOCIETE LIEGEOISE DE CONSTRUCTION SOLICO● Active	0404.237.107

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/07/2026	16/07/2026	23/08/2024	22/06/2023	22/06/2023	22/06/2021
General meeting	07/07/2026	07/07/2026	14/05/2024	22/06/2023	22/06/2023	16/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	07/07/2026	17/07/2026	French	PDF
Micro model	31/12/2024	07/07/2026	16/07/2026	French	PDF
Micro model	31/12/2023	14/05/2024	23/08/2024	French	PDF
Micro model	31/12/2022	22/06/2023	22/06/2023	French	PDF
Micro model	31/12/2021	22/06/2023	22/06/2023	French	PDF
Micro model	31/12/2020	16/06/2021	22/06/2021	French	PDF
Micro model	31/12/2019	25/09/2020	28/09/2020	French	PDF
Micro model	31/12/2018	19/09/2019	19/09/2019	French	PDF
Micro model	31/12/2017	04/06/2018	28/08/2018	French	PDF
Micro model	31/12/2016	31/05/2017	11/07/2017	French	PDF
Abridged model	31/12/2015	30/05/2016	02/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	02/07/2015	French	PDF
Abridged model	31/12/2013	13/05/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	14/05/2013	03/09/2013	French	PDF
Abridged model	31/12/2011	08/05/2012	28/08/2012	French	PDF
Abridged model	31/12/2010	27/04/2011	28/08/2012	French	PDF
Abridged model	31/12/2009	27/04/2010	30/06/2010	French	PDF
Abridged model	31/12/2008	29/04/2009	30/06/2009	French	PDF
Abridged model	31/12/2007	22/04/2008	16/05/2008	French	PDF
Abridged model	31/12/2006	24/04/2007	23/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 17 ended

Active mandates

EVELYN DEMARCHE

Director · since 14 mai 2024 · until 30 juin 2030

Active

MARIE-FRANCE DEMARCHE

Director · since 14 mai 2024 · until 30 juin 2030

Active

JEAN-PHILIPP SINCLAIR

Director · since 22 juin 2023 · until 30 juin 2029

Active

NATACHA LUYCKX

Director · since 22 juin 2023 · until 30 juin 2029

Active

Ended mandates

JEAN-PHILIPPE SINCLAIR

Director · since 22 juin 2023 · until 22 juin 2029

Ended

JEAN-PHILIPPE SINCLAIR

Director · since 22 juin 2023 · until 30 juin 2029

Ended

NATACHA LUYCKX

Director · since 22 juin 2023 · until 22 juin 2029

Ended

JEAN-PHILIPPE SINCLAIR

Director · since 31 mai 2023 · until 31 mai 2029

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/09/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates14/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates18/01/2021
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ANNEE COMPTABLE
PDF
Mandates10/12/2018
DEMISSIONS, NOMINATIONS
PDF
Registered office10/01/2018
SIEGE SOCIAL - CAPITAL, ACTIONS
PDF
Mandates17/07/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates12/02/2013
DEMISSIONS, NOMINATIONS
PDF
Capital / shares18/01/2012
CAPITAL, ACTIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202597,9 k €↑
2024
Annual accounts 202486,8 k €↑
2023
Annual accounts 202376,9 k €↓
2022
Annual accounts 2022131,9 k €↑
2021
Annual accounts 202151,4 k €↑
2020
Annual accounts 202042,1 k €↓
2019
Annual accounts 201973,8 k €↑
2018
Annual accounts 201870,4 k €↑
2017
Annual accounts 201767,1 k €↑
2016
Annual accounts 201619,9 k €↓
2015
Annual accounts 201567 k €↑
2014
Annual accounts 201447,7 k €↑
2013
Annual accounts 201325,5 k €↓
2012
Annual accounts 201282,9 k €↓
2009
Annual accounts 2009128 k €
26/01/1989
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

IMMODEM

Overview

What does IMMODEM do?

Trend over 15 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline