Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 39 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
NORTH IMMO from Oostende, company number BE0428835911, closed financial year 2025 with a result of € 680,114 after tax. For that financial year NORTH IMMO recorded a gross margin of € 1.6 million and equity of € 5.7 million. Compared with financial year 2024, the result moved from € 660,528 to € 680,114. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 21, 2026.
€ 5.7 million
▲ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 680,114
▲ 3% vs 2024
Profit after tax over the fiscal year.
€ 236,771
▲ 299% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 8,500 paid out
1 % of the profit went to the shareholders, mostly to N.I.-International (100 % of the shares). That is where the money ends up.
People and assets in 2025
€ 170
▲ 4% 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.
€ 59,584
▲ 98% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 4.5 million
▲ 45% vs 2024
€ 510,249 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 282,252
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 301,002
▼ 29% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,130,173 | € 1,304,680 | € 1,673,219 | € 1,602,724 | ▼ 4% |
| Profit after taxes | € 420,324 | € 433,233 | € 660,528 | € 680,114 | ▲ 3% |
| Equity | € 4,092,867 | € 4,526,100 | € 5,078,128 | € 5,749,742 | ▲ 13% |
| Total debts | € 5,879,134 | € 5,914,710 | € 5,592,180 | € 6,317,468 | ▲ 13% |
| Cash | € 236,296 | € 106,255 | € 59,270 | € 236,771 | ▲ 299% |
| Land & buildings | € 8,286,273 | € 8,884,727 | € 8,926,852 | € 9,281,953 | ▲ 4% |
| Retained profit | € 2,017,998 | € 2,451,231 | € 3,003,259 | € 3,674,873 | ▲ 22% |
| Dividend | € 0 | € 0 | € 108,500 | € 8,500 | ▼ 92% |
| Bank debt | € 3,924,266 | € 3,634,981 | € 3,136,915 | € 4,539,327 | ▲ 45% |
| Balance sheet total | € 10,160,406 | € 10,583,893 | € 10,786,053 | € 12,158,277 | ▲ 13% |
Key figures of NORTH IMMO, 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 NORTH IMMO?
What happened at NORTH IMMO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 680,114 (▲ 3% vs 2024). filed late Source: NBB ↗
- Mieke De Busschere became a director. NBB
- Bjorn De Busschere became a director. NBB
- N.I.-International NV became a director. NBB
- Willy De Busschere became a director. NBB
- New establishment in Oostende. KBO
- Start of the company according to the CBE. KBO
In short
From € 420,324 profit in 2022 to € 680,114 profit in 2025.
Paid € 515,680 in corporate taxes since 2022.
Best year ever: 2025, with € 680,114 profit.
Paid out € 117,000 in dividends to the owners in total.
Management
The stake of N.I.-International comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NORTH IMMOBehind NORTH IMMO are Willy De Busschere, Bjorn De Busschere, N.I.-International NV and Mieke De Busschere. The shares are held by N.I.-International (99.8%).
Directors
According to the 2025 annual accounts
Willy De Busschere
Bestuurder
Also active at: De Busschere Agri, DE BUSSCHERE BOUW, IMMO DZ, ELEKTROMET RECYCLING, N.I.-International
since 2004
Bjorn De Busschere
Bestuurder
Also active at: De Busschere Agri, DE BUSSCHERE BOUW, IMMO DZ, B-PROJECTS
since 2005
Bestuurder · represented by Marleen Provoost
since 2005
Mieke De Busschere
Bestuurder
Also active at: DE BUSSCHERE BOUW, ELEKTROMET RECYCLING, DBC Built, N.I.-International
since 2015
Shareholders
99.8%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Pottenbakkersstraat 11
8400 Oostende
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0428.835.911
- VAT number
- BE 0428.835.911
- Registered office
- Pottenbakkersstraat 11, 8400 Oostende
- Names & denominations
- NORTH IMMO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 April 1986
- Peppol
- Active · Active since 11 Aug 2025
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