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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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2024; threshold 65 %.
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Busy address KBO
90 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2024
IMMOBEL Project Management from Brussel, company number BE0475729174, closed financial year 2024 with a result of € -4.6 million after tax. For that financial year IMMOBEL Project Management recorded revenue of € 13.4 million and equity of € -4.8 million. Compared with financial year 2023, the result moved from € -165,410 to € -4.6 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 8, 2025.
€ -4.8 million
▼ € 4.6 million vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4.6 million
▼ 2695 % more loss than in 2023
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.9 million.
People and assets in 2024
18.1
▲ 0.8 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 1.7 million
▲ 11% vs 2023
€ 93,100 per full-time equivalent. 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 2024
None
No bank loans on the last day of the fiscal year.
€ 14.8 million
▲ 156% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 352 days on average.
€ 270,977
▼ 28% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 13,412,113 | |
| Gross margin | € 910,646 | € -3,970,797 | € 2,912,346 | - | |
| Profit after taxes | € 60,652 | € -5,258,250 | € -165,410 | € -4,623,641 | ▼ € 4.5 million |
| Equity | € 5,213,510 | € -44,740 | € -210,150 | € -4,833,791 | ▼ € 4.6 million |
| Total debts | € 33,351,231 | € 49,869,802 | € 53,609,064 | € 62,753,743 | ▲ 17% |
| Cash | € 2,241,166 | € 9,225,090 | € 0 | - | |
| Retained profit | € 5,112,510 | € -145,740 | € -311,150 | € -4,934,791 | ▼ € 4.6 million |
| Balance sheet total | € 38,564,741 | € 49,825,061 | € 53,398,914 | € 57,919,953 | ▲ 8% |
| Employees (FTE) | 11.5 | 9.9 | 17.3 | 18.1 | ▲ 0.8 |
Key figures of IMMOBEL Project Management, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to IMMOBEL Project Management?
What happened at IMMOBEL Project Management in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Queen-K BV stepped down as director. NBB
- A³ Management BV stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 4.6 million. Source: NBB ↗
- Adel Yahia Consult BV stepped down as director. NBB
- Lady At Work BV stepped down as director. NBB
- Queen-K BV became a director. NBB
- A³ Management BV became a director. NBB
- Adel Yahia Consult BV became a director. NBB
In short
From € 60,652 profit in 2021 to € 4.6 million loss in 2024.
Paid € 139,494 in corporate taxes since 2021.
Best year ever: 2021, with € 60,652 profit.
On average € 168,300 of value added per employee in 2023.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Immobel (100%). It owns 100% of Immobel Lux itself.
Directors
According to the 2024 annual accounts
Director · represented by Adel YAHIA
Also active at: COMPAGNIE IMMOBILIERE DE WALLONIE, Infinito, Entreprises et Gestion Immobilières, Lotinvest Development, QUOMAGO S.A., COSIMO, VELDIMMO, LES JARDINS DU NORD - NOORDWARANDE +45 more
since 2021 · until 2025
Director · represented by Stéphanie de Wilde
Also active at: COMPAGNIE IMMOBILIERE DE WALLONIE, Infinito, Entreprises et Gestion Immobilières, Lotinvest Development, QUOMAGO S.A., VELDIMMO, ILOT ECLUSE, LES JARDINS DU NORD - NOORDWARANDE +55 more
since 2020 · until 2024
Director · represented by Olivier THIEL
Also active at: COMPAGNIE IMMOBILIERE DE WALLONIE, Infinito, QUOMAGO S.A., COSIMO, VELDIMMO, LES JARDINS DU NORD - NOORDWARANDE, ESPACE NIVELLES, 'T Park Development +29 more
since 2023 · until 2027
Director · represented by Marnix GALLE
Also active at: COMPAGNIE IMMOBILIERE DE WALLONIE, Entreprises et Gestion Immobilières, GOODWAYS, "IMMOBEL" OU "COMPAGNIE IMMOBILIERE DE BELGIQUE " OU " IMMOBILIEN VENNOOTSCHAP VAN BELGIE", QUOMAGO S.A., VELDIMMO, ILOT ECLUSE, LES JARDINS DU NORD - NOORDWARANDE +24 more
since 2023 · until 2027
Shareholders
100%
Participations
Immobel Lux
100%
Establishments
Establishment units
Physical locations of this company
Anspachlaan 1
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 90 companies are registered at this address.
All companies at this address →bpost
€ 2.2 billion revenue · 2025
COMPAGNIE IMMOBILIERE DE WALLONIE same network
€ -5,696 gross margin · 2025
Infinito same network
€ -3,366 gross margin · 2025
TotalEnergies Marketing Belgium
€ 6.1 billion revenue · 2025
TotalEnergies Petrochemicals & Refining
€ 15.5 billion revenue · 2025
+85 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0475.729.174
- VAT number
- BE 0475.729.174
- Registered office
- Anspachlaan 1, 1000 Brussel
- Names & denominations
- IMMOBEL Project Management · IMMOBEL P.M.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 September 2001
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Projectontwikkeling voor kantoorbouw
Ontwikkeling van niet-residentiële bouwprojecten
Handel in eigen onroerend goed
Handel in onroerend goed