Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Immobilière Le Normandie 15 from Waterloo, company number BE0564823377, closed financial year 2025 with a result of € -9,510 after tax. For that financial year Immobilière Le Normandie 15 recorded a gross margin of € -8,584 and equity of € -230,577. Compared with financial year 2024, the result moved from € 24,065 to € -9,510. 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 June 9, 2026.
€ -230,577
▼ € 9,510 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9,510
▼ still € 24,065 profit in 2024
Profit after tax over the fiscal year.
€ 694
▼ 62% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -292,577.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2,595
▲ 19% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,938
▲ 15% 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 | |
|---|---|---|---|---|---|
| Gross margin | € 39,587 | € -22,485 | € 24,863 | € -8,584 | ▼ € 33,447 |
| Profit after taxes | € 36,852 | € -23,809 | € 24,065 | € -9,510 | ▼ € 33,574 |
| Equity | € -221,323 | € -245,132 | € -221,068 | € -230,577 | ▼ € 9,510 |
| Total debts | € 230,222 | € 250,846 | € 226,626 | € 232,020 | ▲ 2% |
| Cash | € 8,260 | € 2,017 | € 1,833 | € 694 | ▼ 62% |
| Retained profit | € -283,323 | € -307,132 | € -283,068 | € -292,577 | ▼ € 9,510 |
| Balance sheet total | € 8,899 | € 5,714 | € 5,559 | € 1,442 | ▼ 74% |
Key figures of Immobilière Le Normandie 15, 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 Immobilière Le Normandie 15?
What happened at Immobilière Le Normandie 15 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Cédric COURBOIN stepped down as director. NBB
- Marc CHARLES stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 9,510 (▼ € 33,574 vs 2024). Source: NBB ↗
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
In short
From € 36,852 profit in 2022 to € 9,510 loss in 2025.
Best year ever: 2022, with € 36,852 profit.
Management
The stake of GIA IMMOBILIER comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Immobilière Le Normandie 15The shares are held by GIA IMMOBILIER (66.7%).
Directors
According to the 2025 annual accounts
Cédric COURBOIN
Director
· until 2029
Marc CHARLES
Director
Also active at: GIA IMMOBILIER, ALPHA LINE, LivingStones, Waterloo 108, AD 37, GIA PARTNERS, New Schlosser Project
· until 2029
Shareholders
66.7%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Chaussée Bara 339
1410 Waterloo
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →IMMO DUSSART
€ 99,995 gross margin · 2025
M.D.M. AND A
€ -28,886 gross margin · 2025
GIA IMMOBILIER same network
€ 60,084 gross margin · 2025
COGHEN 77
€ -8,596 gross margin · 2025
LivingStones same network
€ -733 gross margin · 2025
+3 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
- 0564.823.377
- VAT number
- BE 0564.823.377
- Registered office
- Chaussée Bara 339, 1410 Waterloo
- Names & denominations
- Immobilière Le Normandie 15
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 October 2014
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
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