Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Figures corrected NBB
Corrected annual account filed for 2023, 2024.
Financials
Financial year 2025
IMMO WEST I from Brugge, company number BE0405161080, closed financial year 2025 with a result of € 181,703 after tax. For that financial year IMMO WEST I recorded revenue of € 600,988 and equity of € 1.9 million. Compared with financial year 2024, the result moved from € 297,469 to € 181,703. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 3, 2026.
€ 1.9 million
▼ 26% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 181,703
▼ 39% vs 2024
Profit after tax over the fiscal year.
€ 445,472
▲ € 346,352 vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 270,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 796
▼ € 1.5 million vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 293,611
▼ 74% vs 2024
€ 107,321 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 122,500
▼ 40% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 18,194,579 | € 24,296,457 | € 21,120,120 | € 600,988 | ▼ 97% |
| Profit after taxes | € 200,465 | € 210,913 | € 297,469 | € 181,703 | ▼ 39% |
| Equity | € 2,297,692 | € 2,508,605 | € 2,606,075 | € 1,928,751 | ▼ 26% |
| Total debts | € 6,443,681 | € 6,024,304 | € 7,151,472 | € 866,359 | ▼ 88% |
| Cash | € 222,270 | € 159,173 | € 99,121 | € 445,472 | ▲ € 346,352 |
| Land & buildings | € 879,339 | € 822,284 | € 797,569 | € 2,352,387 | ▲ 195% |
| Retained profit | € 1,601,384 | € 1,812,298 | € 1,909,767 | € 944,847 | ▼ 51% |
| Dividend | € 150,000 | € 0 | € 200,000 | € 270,000 | ▲ 35% |
| Bank debt | € 1,527,335 | € 687,211 | € 1,122,307 | € 293,611 | ▼ 74% |
| Balance sheet total | € 8,741,373 | € 8,540,709 | € 9,757,547 | € 2,803,146 | ▼ 71% |
| Employees (FTE) | 17.3 | 21.7 | 21.6 | - |
Key figures of IMMO WEST I, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to IMMO WEST I?
What happened at IMMO WEST I in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Antoine de Harlez de Deulin stepped down as director. NBB
- IMMO 73 SA stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 181,703 (▼ 39% vs 2024). Source: NBB ↗
- Benoît Catelin stepped down as director. NBB
- Antoine de Harlez de Deulin became a director. NBB
- IMMO 73 SA became a director. NBB
- Benoît Catelin became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 200,465 profit in 2022 to € 181,703 profit in 2025.
Paid € 554,360 in corporate taxes since 2022.
Best year ever: 2024, with € 297,469 profit.
Paid out € 620,000 in dividends to the owners in total.
Management
The stake of SAAEM Belgium comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IMMO WEST IThe shares are held by SAAEM Belgium (100%).
Directors
According to the 2025 annual accounts
Antoine de Harlez de Deulin
Managing director
Also active at: GARAGE MODERN, GARAGE PAUWELS, Maurin Immo East II, REVISIEBEDRIJF CLAES & ZONEN, EURO-TRUCKS CLAES, EURO-TRUCKS RENTING, LIMBURGSE VERHUURMAATSCHAPPIJ, Claes & Zonen +15 more
since 2024 · until 2029
IMMO 73 SA
Managing director · represented by Caroline Maurin-Veyrenche
Also active at: Maurin Immo East II, CARDENIS, Maurin Immo West II, Immo North I, Maurin Immo East III
since 2024 · until 2029
Benoît Catelin
Managing director
Also active at: GARAGE MODERN, GH Real Estate I, GARAGE PAUWELS, Maurin Immo East II, REVISIEBEDRIJF CLAES & ZONEN, EURO-TRUCKS CLAES, EURO-TRUCKS RENTING, LIMBURGSE VERHUURMAATSCHAPPIJ +22 more
since 2019 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Pathoekeweg 7
8000 Brugge
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.161.080
- VAT number
- BE 0405.161.080
- Registered office
- Pathoekeweg 7, 8000 Brugge
- Names & denominations
- IMMO WEST I
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 25 Feb 2026
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Handel in eigen onroerend goed
Ontwikkeling van niet-residentiële bouwprojecten
Verhuur en exploitatie van terreinen
Activiteiten van holdings