ACTIVE

IMMO R.M.

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Financial year 2025 · closed on 31/12/2025

Net result

-15 k €

+60.0% YoY

Gross margin

12 k €

-82.2% YoY

Equity

2,5 k €

-85.9% YoY

What does IMMO R.M. do?

IMMO R.M. is a Private company with limited liability incorporated in 2005. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Schaerbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0874.787.174

Incorporation

30/06/2005

Legal form

Private company with limited liability

Registered office

Square Eugène Plasky 92-94
1030 Schaerbeek · BruxellesSee on map

Contributed capital

12 500,00 €

Latest accounts

31/12/2025

Activities (NACE)

25210Manufacture of central heating radiators and boilers· main 25300Manufacture of steam generators, except central heating hot water boilers 28300Manufacture of agricultural and forestry machinery

Signals

Positive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	12 k €	-82.2%	67,3 k €	+695%	8,5 k €	-18.0%	10,3 k €	-51.1%	21,1 k €	-2.8%	21,7 k €	+37.6%	15,8 k €	-40.4%	26,5 k €	+18.8%	22,3 k €	-27.6%	30,8 k €	+327%	7,2 k €	+28.1%	5,6 k €	-85.7%	39,6 k €	+48.6%	26,6 k €	-45.5%	48,8 k €	+32.5%	36,9 k €
EBITDA	8,6 k €	-86.7%	64,5 k €	+1032%	5,7 k €	-27.0%	7,8 k €	-58.2%	18,7 k €	+7.3%	17,4 k €	+29.4%	13,5 k €	-44.4%	24,2 k €	+39.8%	17,3 k €	-39.4%	28,6 k €	+663%	3,7 k €	-33.6%	5,6 k €	-84.7%	36,9 k €	+49.6%	24,7 k €	-47.4%	46,9 k €	+34.0%	35 k €
Operating result	-13,6 k €	+62.9%	-36,6 k €	-20.3%	-30,5 k €	-18.2%	-25,8 k €	-104%	-12,7 k €	+9.1%	-13,9 k €	+22.1%	-17,9 k €	-150%	-7,1 k €	+49.1%	-14 k €	-180%	17,6 k €	+285%	-9,5 k €	-24.4%	-7,7 k €	-132%	23,7 k €	+73.4%	13,6 k €	-61.9%	35,8 k €	+49.9%	23,9 k €
Net result	-15 k €	+60.0%	-37,5 k €	-19.7%	-31,3 k €	-18.2%	-26,5 k €	-68.6%	-15,7 k €	+3.1%	-16,2 k €	+20.2%	-20,3 k €	-101%	-10,1 k €	+44.6%	-18,3 k €	-269%	10,8 k €	+152%	-20,6 k €	-69.6%	-12,1 k €	-192%	13,2 k €	+115%	6,1 k €	-78.4%	28,4 k €	+71.3%	16,6 k €
Balance sheet
Equity	2,5 k €	-85.9%	17,4 k €	-68.2%	54,9 k €	-36.3%	86,2 k €	-23.5%	112,7 k €	-28.1%	156,8 k €	-9.4%	173 k €	-10.5%	193,3 k €	-5.0%	203,4 k €	+1045%	17,8 k €	+155%	7 k €	-74.7%	27,5 k €	-30.6%	39,6 k €	+50.0%	26,4 k €	+30.2%	20,3 k €	+20.2%	16,9 k €
Total assets	69 k €	-14.3%	80,5 k €	-30.0%	115,1 k €	-21.5%	146,7 k €	-18.1%	179,2 k €	-28.1%	249,3 k €	-11.2%	280,8 k €	-10.9%	315,3 k €	-5.6%	334,1 k €	+114%	156,4 k €	-3.7%	162,4 k €	-2.9%	167,3 k €	-9.2%	184,1 k €	-2.8%	189,5 k €	-19.8%	236,2 k €	+4.8%	225,3 k €
Cash	3,2 k €	-48.5%	6,3 k €	+19.1%	5,3 k €	+309%	1,3 k €	-94.2%	22,5 k €	+1545%	1,4 k €	-46.7%	2,6 k €	-29.1%	3,6 k €	+8.8%	3,3 k €		–		–		–		–		3,8 k €	-82.0%	20,9 k €	+41.1%	14,8 k €
Debts	66,5 k €	+5.5%	63 k €	+4.8%	60,2 k €	-0.5%	60,5 k €	-9.1%	66,5 k €	-28.1%	92,5 k €	-12.2%	105,3 k €	-13.7%	122 k €	-6.7%	130,7 k €	-5.7%	138,6 k €	-10.8%	155,4 k €	+11.2%	139,7 k €	-3.3%	144,5 k €	-11.3%	163 k €	-24.5%	215,9 k €	+3.6%	208,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

CARMELO BARDARE

Director · since 06 janvier 2014

Active

PIETER YSENBRANDT

Director · since 06 janvier 2014

Active

Ended mandates

CARMELO BARDARE

Manager · since 06 janvier 2014

Ended

PIETER YSENBRANDT

Manager · since 06 janvier 2014

Ended

MANFRED RUTZE

Manager · since 01 juin 2011 · until 06 janvier 2014

Ended

MANFRED RUTZE

Manager · since 26 avril 2011

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	28/08/2026	18/08/2025	30/08/2024	21/11/2023	23/08/2022	25/08/2021
General meeting	20/05/2026	21/05/2025	15/05/2024	17/05/2023	18/05/2022	12/05/2021
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	20/05/2026	28/08/2026	French	PDF
Abridged model	31/12/2024	21/05/2025	18/08/2025	French	PDF
Abridged model	31/12/2023	15/05/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	17/05/2023	21/11/2023	French	PDF
Abridged model	31/12/2021	18/05/2022	23/08/2022	French	PDF
Abridged model	31/12/2020	12/05/2021	25/08/2021	French	PDF
Abridged model	31/12/2019	20/05/2020	27/08/2020	French	PDF
Abridged model	31/12/2018	15/05/2019	14/08/2019	French	PDF
Abridged model	31/12/2017	16/05/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	17/05/2017	27/09/2017	French	PDF
Abridged model	31/12/2015	18/05/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	20/05/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	21/05/2014	31/08/2015	French	PDF
Abridged model	31/12/2012	15/05/2013	19/12/2013	French	PDF
Abridged model	31/12/2011	16/05/2012	26/07/2012	French	PDF
Abridged model	31/12/2010	03/10/2011	23/12/2011	French	PDF
Abridged model	31/12/2009	19/05/2010	24/09/2010	French	PDF
Abridged model	31/12/2008	20/05/2009	26/12/2009	French	PDF
Abridged model	31/12/2007	21/05/2008	28/08/2008	French	PDF
Abridged model	31/12/2006	16/05/2007	31/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 7 ended

Active mandates

CARMELO BARDARE

Director · since 06 janvier 2014

Active

PIETER YSENBRANDT

Director · since 06 janvier 2014

Active

Ended mandates

CARMELO BARDARE

Manager · since 06 janvier 2014

Ended

PIETER YSENBRANDT

Manager · since 06 janvier 2014

Ended

MANFRED RUTZE

Manager · since 01 juin 2011 · until 06 janvier 2014

Ended

MANFRED RUTZE

Manager · since 26 avril 2011

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office27/04/2021
SIEGE SOCIAL
PDF
Mandates15/01/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates15/06/2011
DEMISSIONS, NOMINATIONS
PDF
Other08/07/2005
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025-15 k €↑
2024
Annual accounts 2024-37,5 k €↓
2023
Annual accounts 2023-31,3 k €↓
2022
Annual accounts 2022-26,5 k €↓
2021
Annual accounts 2021-15,7 k €↑
2018
Annual accounts 2018-16,2 k €↑
2017
Annual accounts 2017-20,3 k €↓
2016
Annual accounts 2016-10,1 k €↑
2015
Annual accounts 2015-18,3 k €↓
2014
Annual accounts 201410,8 k €↑
2013
Annual accounts 2013-20,6 k €↓
2012
Annual accounts 2012-12,1 k €↓
2011
Annual accounts 201113,2 k €↑
2010
Annual accounts 20106,1 k €↓
2009
Annual accounts 200928,4 k €↑
2008
Annual accounts 200816,6 k €
30/06/2005
IncorporationPrivate company with limited liability

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

IMMO R.M.

Overview

What does IMMO R.M. do?

Trend over 16 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