ACTIVE

IMMOCEL

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Financial year 2025 · closed on 31/12/2025

Net result

464,4 k €

-38.0% YoY

Revenue

1,9 M €

+3.7% YoY

Equity

20,1 M €

-0.5% YoY

What does IMMOCEL do?

IMMOCEL is a Public limited company incorporated in 1998. Its registered office is in Lebbeke.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.132.339

Incorporation

10/04/1998

Legal form

Public limited company

Registered office

Kouterbaan 44
9280 Lebbeke · FlandreSee on map

Contributed capital

10 898 090,88 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	1,9 M €	+3.7%	1,8 M €	-3.4%	1,9 M €	+4.9%	1,8 M €	+5.1%	1,7 M €	-1.0%	1,7 M €	+9.2%	1,6 M €	+16.8%	1,4 M €	+18.9%	1,2 M €	+3.0%	1,1 M €	+8.0%	1 M €	+41.8%	731,2 k €	-66.9%	2,2 M €	+69.6%	1,3 M €	+159%	504 k €	+1.9%	494,7 k €	+2.5%	482,8 k €	+4.2%	463,3 k €
EBITDA	1,4 M €	-18.1%	1,7 M €	+16.5%	1,5 M €	+15.1%	1,3 M €	+2.4%	1,3 M €	-16.1%	1,5 M €	+13.7%	1,3 M €	+10.8%	1,2 M €	+33.6%	891,7 k €	-5.6%	944,4 k €	+14.9%	821,7 k €	+72.4%	476,7 k €	-51.3%	978,8 k €	+169%	363,3 k €	+122%	163,7 k €	-1.6%	166,3 k €	-8.2%	181,2 k €	-54.2%	396 k €
Operating result	597,6 k €	-28.1%	831,3 k €	+33.6%	622,3 k €	+45.8%	426,7 k €	+27.1%	335,8 k €	-44.9%	609,3 k €	+46.2%	416,7 k €	+233%	125,2 k €	-55.1%	278,6 k €	-12.9%	319,8 k €	+1.6%	314,7 k €	+600%	45 k €	-93.2%	656,5 k €	+273%	176,2 k €	+851%	-23,5 k €	-12.9%	-20,8 k €	-249%	-6 k €	-103%	208,9 k €
Net result	464,4 k €	-38.0%	749,2 k €	-34.4%	1,1 M €	+621%	-219,2 k €	-171%	306,7 k €	+208%	99,7 k €	-93.6%	1,6 M €	+384%	322,1 k €	-47.8%	617,1 k €	-49.1%	1,2 M €	+61.7%	749,9 k €	-4.9%	788,6 k €	-20.2%	988,8 k €	+5.1%	941 k €	+3.1%	912,6 k €	+20.3%	758,9 k €	-24.8%	1 M €	+5.4%	957,7 k €
Balance sheet
Equity	20,1 M €	-0.5%	20,2 M €	+3.8%	19,5 M €	-29.0%	27,4 M €	-0.8%	27,6 M €	+2.0%	27,1 M €	+0.5%	27 M €	+5.4%	25,6 M €	+1.3%	25,3 M €	+2.5%	24,6 M €	+5.2%	23,4 M €	+3.3%	22,7 M €	+3.5%	21,9 M €	+4.7%	20,9 M €	+1.6%	20,6 M €	-19.4%	25,6 M €	-0.2%	25,6 M €	+0.2%	25,5 M €
Total assets	24,3 M €	-4.3%	25,4 M €	-7.9%	27,6 M €	-24.1%	36,4 M €	-2.9%	37,4 M €	-12.8%	42,9 M €	+2.7%	41,8 M €	+7.9%	38,8 M €	+14.0%	34 M €	+4.9%	32,4 M €	+2.7%	31,5 M €	+5.0%	30 M €	+15.4%	26 M €	+12.2%	23,2 M €	+1.7%	22,8 M €	-14.2%	26,6 M €	-0.6%	26,7 M €	+0.2%	26,7 M €
Cash	237,4 k €	-66.6%	710 k €	-39.3%	1,2 M €	+98.0%	590,4 k €	-58.9%	1,4 M €	+59.9%	897,5 k €	+162%	342,9 k €	-45.0%	623,9 k €	-22.0%	799,4 k €	+291%	204,7 k €	-81.4%	1,1 M €	+1.5%	1,1 M €	+438%	201,1 k €	-78.4%	929,3 k €	+557%	141,4 k €	-84.5%	909,9 k €	-16.7%	1,1 M €	+19.5%	914,2 k €
Debts	4 M €	-19.4%	4,9 M €	-36.8%	7,8 M €	-9.0%	8,6 M €	-8.8%	9,4 M €	-38.1%	15,2 M €	+7.2%	14,2 M €	+11.5%	12,7 M €	+54.3%	8,3 M €	+13.3%	7,3 M €	-8.3%	7,9 M €	+10.9%	7,2 M €	+83.5%	3,9 M €	+77.9%	2,2 M €	+1.3%	2,2 M €	+123%	971,1 k €	-10.6%	1,1 M €	-0.6%	1,1 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 22 ended

Active mandates

IMMO44

Managing director · since 30 juin 2023 · until 19 juin 2029 · 0701.752.636

Represented by Anne-Christine Bouckaert

Active

MATHO

Managing director · since 30 juin 2023 · until 19 juin 2029 · 0450.841.548

Represented by Bart Saelen

Active

Ended mandates

IMMO44

Managing director · since 15 juin 2021 · until 15 juin 2027 · 0701.752.636

Represented by Anne-Christine Bouckaert

Ended

MATHO

Managing director · since 15 juin 2021 · until 15 juin 2027 · 0450.841.548

Represented by Saelen BART

Ended

MATHO

Managing director · since 03 août 2020 · until 16 juin 2026 · 0450.841.548

Represented by Saelen Bart

Ended

MATHO

Managing director · since 15 mai 2020 · until 16 juin 2026 · 0450.841.548

Represented by Saelen Bart

Ended

At this address

Other companies at this address

Company	CBE no.
Caroline● Active	0400.278.715
CETEX NOORD● Active	0433.143.897
Cetex Sud● Active	0560.708.993
FASHION44● Active	0700.986.930
FourC● Active	1012.618.236
IMMO44● Active	0701.752.636

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	10/08/2026	10/07/2025	04/07/2024	12/07/2023	18/07/2022	08/07/2021
General meeting	16/06/2026	17/06/2025	18/06/2024	20/06/2023	21/06/2022	15/06/2021
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
Full model	31/12/2025	16/06/2026	10/08/2026	Dutch	PDF
Full model	31/12/2024	17/06/2025	10/07/2025	Dutch	PDF
Full model	31/12/2023	18/06/2024	04/07/2024	Dutch	PDF
Full model	31/12/2022	20/06/2023	12/07/2023	Dutch	PDF
Full model	31/12/2021	21/06/2022	18/07/2022	Dutch	PDF
Full model	31/12/2020	15/06/2021	08/07/2021	Dutch	PDF
Full model	31/12/2019	08/09/2020	08/10/2020	Dutch	PDF
Full model	31/12/2018	18/06/2019	03/07/2019	Dutch	PDF
Full model	31/12/2017	06/06/2018	25/06/2018	Dutch	PDF
Full model	31/12/2016	07/06/2017	28/06/2017	Dutch	PDF
Full model	31/12/2015	01/06/2016	22/06/2016	Dutch	PDF
Full model	31/12/2014	03/06/2015	15/06/2015	Dutch	PDF
Full model	31/12/2013	22/05/2014	19/06/2014	Dutch	PDF
Full model	31/12/2012	31/05/2013	28/06/2013	Dutch	PDF
Full model	31/12/2011	22/05/2012	06/06/2012	Dutch	PDF
Full model	31/12/2010	10/06/2011	30/06/2011	Dutch	PDF
Full model	31/12/2009	08/06/2010	30/07/2010	Dutch	PDF
Full model	31/12/2008	16/06/2009	16/07/2009	Dutch	PDF
Full model	31/12/2007	26/06/2008	10/07/2008	Dutch	PDF
Full model	31/12/2006	20/06/2007	03/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 2 active · 22 ended

Active mandates

IMMO44

Managing director · since 30 juin 2023 · until 19 juin 2029 · 0701.752.636

Represented by Anne-Christine Bouckaert

Active

MATHO

Managing director · since 30 juin 2023 · until 19 juin 2029 · 0450.841.548

Represented by Bart Saelen

Active

Ended mandates

IMMO44

Managing director · since 15 juin 2021 · until 15 juin 2027 · 0701.752.636

Represented by Anne-Christine Bouckaert

Ended

MATHO

Managing director · since 15 juin 2021 · until 15 juin 2027 · 0450.841.548

Represented by Saelen BART

Ended

MATHO

Managing director · since 03 août 2020 · until 16 juin 2026 · 0450.841.548

Represented by Saelen Bart

Ended

MATHO

Managing director · since 15 mai 2020 · until 16 juin 2026 · 0450.841.548

Represented by Saelen Bart

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares19/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates05/07/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/01/2018
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring11/08/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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 2025464,4 k €↓
2024
Annual accounts 2024749,2 k €↓
2023
Annual accounts 20231,1 M €↑
2022
Annual accounts 2022-219,2 k €↓
2021
Annual accounts 2021306,7 k €↑
2018
Annual accounts 201899,7 k €↓
2017
Annual accounts 20171,6 M €↑
2016
Annual accounts 2016322,1 k €↓
2015
Annual accounts 2015617,1 k €↓
2014
Annual accounts 20141,2 M €↑
2013
Annual accounts 2013749,9 k €↓
2012
Annual accounts 2012788,6 k €↓
2011
Annual accounts 2011988,8 k €↑
2010
Annual accounts 2010941 k €↑
2009
Annual accounts 2009912,6 k €↑
2008
Annual accounts 2008758,9 k €↓
2007
Annual accounts 20071 M €↑
2006
Annual accounts 2006957,7 k €
10/04/1998
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

IMMOCEL

Overview

What does IMMOCEL do?

Trend over 18 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