The Financial Department

Against its background of international expansion, IMMOBEL relies on a Financial Department that can guarantee the development of their portfolio in the best possible conditions. Risk measurement, performance monitoring, tax structuring - the team possess all the skills necessary to enable the Group to pursue its development.

Composed of dynamic and proactive talents, the Financial Department is led by IMMOBEL’s CFO Karel Breda: “After a career leading major international organisations, I wished to engage with a Group that would provide me with significant challenges as a CFO, he explains. I wanted to seize the opportunity to bring added value within a responsive department.

An extensive mission

A true cornerstone of the Group when it comes to anything relating to the financial domain, the department has two vital functions: supporting developers to ensure winning the most ambitious projects on the one hand, and guaranteeing financial performance and optimal risk coverage on the other.

The department encompasses three skills, explains IMMOBEL’s CFO Karel Breda. In addition to the team in charge of accounting, it also includes a financial monitoring team, whose role is to initiate financial analysis and monitor the company’s performances. Finally, the Acquisition Investment and Financial Advisory (AIFA) team supports developers in view to acquire new projects, and plays the role of inhouse ‘investment banker’.”

The challenge for us is to monitor existing projects and the company as a whole, adds Head of Financial Planning & Analysis Alain Delvaulx. Based on our findings we challenge other departments to make sure financial projections are as accurate as possible and that the business meets its financial objectives.

“To this end, it is important to have a clear view of our objectives, not only at project level, but also with regards to the company overall”, adds Treasurer & Head of Accounting Jean-Claude Gillet.

IMMOBEL, a backdrop of expertise

A mission supported by a professional context conducive to pursuing new challenges through innovating and quality projects.

“The company’s teams are very enthusiastic and very professional. Expectations are high at every level in view to serve our ambitions, says Senior Business Controller Sara Van Malderen. We are always encouraged to project ourselves into the next phase, it’s very exciting!

“The department has a very synergistic atmosphere! We have all aligned our goals, continues Senior Project Controller Julie Gelin, and it’s a real pleasure to work for a Group that attracts the best profiles.”

An ever-changing society

A flexible team positioned as the leader in the property development sector, and who has understood that society is in constant evolution.

Most property market segments are currently being professionalised and institutionalised, explains Senior Accountant Stéphane Rozzi. At the same time, many changes are visible in the way residents are living. As a consequence of urbanisation and demographic evolutions, the type of dwellings designed today is very different to those designed 20 years ago.”

“IMMOBEL is in a perfect position to accommodate these major changes and to develop new products corresponding to citizens’ expectations. Large projects foster diversity, such as being able to live, work and shop in the same neighbourhood, attests Senior Accountant Marie Pignard. Reinventing a whole neighbourhood requires stable developers that are able to take control.”

Supporting an international strategic vision

In line with the current strategy, the department encompasses its rationale within geographical diversification on the one hand, and by property market segments on the other.

Our ‘business lines’ not only respond to our clients’ many and varied requirements, but they also play on diversification in terms of assessing the risks taken by IMMOBEL, states Senior Accountant Sevim Ersoy. As a result we guarantee the Group’s constant growth and evolution, and avoid significant volatility.”

We are working towards a change of scale for the benefit of all our shareholders, concludes Karel Breda. IMMOBEL can count on a Financial Department that will support the significantly larger volume that reflects our speedy expansion.”