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 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 53 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Immo & Estate Morel from Gent, company number BE0670430841, closed financial year 2025 with a result of € -235,073 after tax. For that financial year Immo & Estate Morel recorded a gross margin of € -30,553 and equity of € -23,822. Compared with financial year 2024, the result moved from € -29,700 to € -235,073. 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 January 30, 2026.
€ -23,822
▼ € 235,073 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -235,073
▼ 691 % more loss than in 2024
Profit after tax over the fiscal year.
€ 30,353
▲ € 30,303 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -273,822.
Debts at end 2025
€ 1.7 million
▲ 6% vs 2024
€ 1.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 29,510
▼ 83% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 132,046
▲ € 131,047 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 39,730 | € 51,021 | € 145,732 | € -30,553 | ▼ € 176,286 |
| Profit after taxes | € 705 | € 3,858 | € -29,700 | € -235,073 | ▼ € 205,373 |
| Equity | € 237,094 | € 240,952 | € 211,251 | € -23,822 | ▼ € 235,073 |
| Total debts | € 616,356 | € 1,553,728 | € 1,883,779 | € 2,170,680 | ▲ 15% |
| Cash | - | € 300 | € 50 | € 30,353 | ▲ € 30,303 |
| Land & buildings | € 682,276 | € 667,591 | € 652,865 | € 641,841 | ▼ 2% |
| Retained profit | € -12,906 | € -9,048 | € -38,749 | € -273,822 | ▼ € 235,073 |
| Bank debt | € 499,960 | € 877,287 | € 1,565,493 | € 1,653,265 | ▲ 6% |
| Balance sheet total | € 853,450 | € 1,794,680 | € 2,095,030 | € 2,146,858 | ▲ 2% |
Key figures of Immo & Estate Morel, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Immo & Estate Morel?
What happened at Immo & Estate Morel in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 235,073. Source: NBB ↗
- Luc Morel became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 705 profit in 2022 to € 235,073 loss in 2025.
Best year ever: 2023, with € 3,858 profit.
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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
Behind Immo & Estate Morel is Luc Morel. Luc Morel is also behind G.I. and Wine & Bubbles.
Directors
According to the 2025 annual accounts
since 2021
Establishments
Establishment units
Physical locations of this company
Gentbruggestraat 169
9040 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0670.430.841
- VAT number
- BE 0670.430.841
- Registered office
- Gentbruggestraat 169, 9040 Gent
- Names & denominations
- Immo & Estate Morel · IEM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 January 2017
- Peppol
- Active · Active since 4 Dec 2025
- Activities · NACE
Handel in eigen onroerend goed
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen