Immobel SA
I · AI Analysis
The brief
Immobel develops office buildings, residential complexes, and mixed-use real estate projects across Belgium, France, Luxembourg, Germany, Poland, Spain, and the United Kingdom [Yahoo Finance]. The company plans, builds, and sells properties rather than holding them for rental income. It has operated since 1863 and is majority-owned by A³ Capital NV [Yahoo Finance].
Immobel is a Belgian real estate developer active across seven European countries, with a portfolio spanning office, residential, and mixed-use projects [Yahoo Finance]. The company delivered trailing-twelve-month revenue of EUR 311.5M through 30 June 2026, though revenue fell 15.1% in the latest reported period versus a year earlier [Yahoo Finance]. Forward analyst estimates suggest earnings growth ahead, but a 13.7x net-debt-to-EBITDA ratio and Altman Z-score of 1.3 signal elevated financial stress [Sentinellis calculation].
Strong free cash flow generation offset by high debt load and narrow margins under revenue pressure.
Sentinellis health
Moderate concerns
5.8/10
7.5+ strong · 4.5–7.5 moderate · under 4.5 weak
Profitability
Returns on capital
Growth & momentum
Balance sheet
Cash generation
Value creation
Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.
Market capitalisation
EUR 185.6M
Revenue (TTM)
EUR 311.5M
Explainers
How we read these numbers
Plain-English guides · no account needed
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Revenue fell 15.1% in the latest reported period, indicating weaker project completions or pricing pressure in at least one geography [Yahoo Finance].
Risks
6
Opportunities
6
Red flags
3
Leadership
10
14 more findings in the full report — free with any account.
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