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 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 10 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
IMMAFRA from Zonhoven, company number BE0478302347, closed financial year 2025 with a result of € 62,248 after tax. For that financial year IMMAFRA recorded a gross margin of € 234,173 and equity of € -1.6 million. Compared with financial year 2024, the result moved from € -396,227 to € 62,248. Profitable, and profit is growing. 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 17, 2026.
€ -1.6 million
▲ € 62,248 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 62,248
▲ still € 396,227 loss in 2024
Profit after tax over the fiscal year.
€ 629,613
▲ 78% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -2 million.
People and assets in 2025
0.9
Average over the fiscal year, from the social balance sheet.
€ 47,195
▼ 58% 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.
€ 42,629
▲ 40% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.3 million
▲ 2% vs 2024
€ 1.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 979,037
▲ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 9,104
▼ 89% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 35,786 | € -221,888 | € -139,449 | € 234,173 | ▲ € 373,621 |
| Profit after taxes | € -145,258 | € -583,718 | € -396,227 | € 62,248 | ▲ € 458,474 |
| Equity | € -639,311 | € -1,223,029 | € -1,619,256 | € -1,557,008 | ▲ € 62,248 |
| Total debts | € 5,660,392 | € 12,419,125 | € 16,896,503 | € 22,712,757 | ▲ 34% |
| Cash | € 411,171 | € 505,541 | € 353,351 | € 629,613 | ▲ 78% |
| Land & buildings | - | - | € 9,014 | € 6,842 | ▼ 24% |
| Retained profit | € -1,076,311 | € -1,660,029 | € -2,056,256 | € -1,994,008 | ▲ € 62,248 |
| Bank debt | € 2,699,296 | € 2,370,781 | € 2,237,853 | € 2,282,424 | ▲ 2% |
| Balance sheet total | € 5,021,082 | € 11,196,095 | € 15,277,247 | € 21,155,748 | ▲ 38% |
| Employees (FTE) | 1.5 | 1.8 | 0.9 | 0.9 |
Key figures of IMMAFRA, 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 IMMAFRA?
What happened at IMMAFRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 62,248. Source: NBB ↗
- New establishment in Zonhoven. KBO
- Start of the company according to the CBE. KBO
In short
From € 145,258 loss in 2022 to € 62,248 profit in 2025.
Paid € 6,023 in corporate taxes since 2022.
Best year ever: 2025, with € 62,248 profit.
On average € 23,900 of value added per employee in 2022.
Management
The stake of BEHOLD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IMMAFRABehind IMMAFRA are Christophe Beliën, Frank Beliën and Carolyn Beliën. The shares are held by BEHOLD (100%).
Directors
According to the 2025 annual accounts
Frank Beliën
Managing director
Also active at: ADVIESBUREAU BELIËN, Huis van de Toekomst, HIGH TECH & BUILDING RESEARCH, BELMAFRA, BEGON, BELIFRAN, FRABELI, BEHOLD
Carolyn Beliën
Director
Also active at: Huis van de Toekomst, HIGH TECH & BUILDING RESEARCH, BELMAFRA
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Donkweg 66A
3520 Zonhoven
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →ADVIESBUREAU BELIËN same network
€ -13,802 gross margin · 2025
HIGH TECH & BUILDING RESEARCH same network
€ 6,927 gross margin · 2025
BELMAFRA same network
€ 646,721 gross margin · 2025
FRABELI same network
€ -4,284 gross margin · 2025
BEHOLD same network
€ 283,797 gross margin · 2025
+2 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
- 0478.302.347
- VAT number
- BE 0478.302.347
- Registered office
- Donkweg 66A, 3520 Zonhoven
- Names & denominations
- IMMAFRA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 September 2002
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Algemene bouw van residentiële gebouwen
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis
Diverse ondersteunende activiteiten ten behoeve van voorzieningen
Beheer van residentiële gebouwen
Beheer van overig onroerend goed