Equity
E-dem has made a profit in every financial year since 2019.
E-dem has made a profit in every financial year since 2019.
Green is investment, beige is depreciation.
The 2019 accounts came 11 days late. The other six were filed on time.
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 54% of them on solvency, 39% on liquidity, 30% on profitability and 49% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 5,047 companies had the same profile as E-dem has now. Each dot stands for 13 companies, two years later.
The bankruptcy probability of E-dem itself is lower: < 0.1% within 12 months. It rests on far more data about E-dem than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 5,047 companies, not a prediction for E-dem. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 1.91 (1.76 in 2024), above the usual 1.5. Short-term debt is 38.1% and cash 19.5% of total assets. 38.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 43 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| E-dem Ohey | €41,560 | €8,671 | 61.9% | - |
| CLAVANI Beveren-Kruibeke-Zwijndrecht | €41,355 | €8,133 | 23.4% | - |
| lighthouse labs Herentals | €47,977 | €8,122 | 84.6% | - |
| Blue Aves Europe Mol | €49,090 | €8,518 | 36.0% | - |
| Bscript Beveren | €38,759 | €7,937 | 57.0% | - |
| HIVE LAB Fleurus | €32,067 | €8,445 | -138.3% | - |
| UNINET AGENCY Zaventem | €43,463 | €8,828 | 32.6% | - |
These companies have the same main activity as E-dem: computer programming (NACE 62100). They are comparable in size and age: total assets between €32,100 and €49,100, founded between 2018 and 2020.
E-dem files the micro format. That format states no turnover. The gross margin fell from €11,413 in 2019 to €8,671 in 2025.
In October 2023, the Official Gazette published the appointment of Aurore GALLANT as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €47,000. Estimated: probably between €25,000 and €90,000.
Higher than 52% of 21,208 companies in 2025.
Higher than 41% of 20,571 companies in 2025.
Higher than 21% of 20,746 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
41,560 | 119,811 | 58,781 | 64,351 | 68,887 | 80,707 | 49,773 | |
21/28 |
11,346 | 15,551 | 27,004 | 39,156 | 44,648 | 56,806 | 31,577 | |
22/27 |
11,289 | 15,451 | 26,904 | 39,056 | 44,548 | 56,706 | 31,477 | |
24 |
11,289 | 7,322 | 7,704 | 8,785 | 3,206 | 4,293 | 6,224 | |
25 |
- | 8,129 | 19,200 | 30,271 | 41,342 | - | - | |
28 |
56 | 100 | 100 | 100 | 100 | 100 | 100 | |
29/58 |
30,214 | 104,260 | 31,777 | 25,195 | 24,240 | 23,902 | 18,196 | |
40/41 |
20,129 | 19,490 | 5,631 | 11,874 | 9,123 | 7,784 | 17,420 | |
40 |
11,120 | 17,401 | 5,020 | 11,874 | 9,123 | 7,784 | 17,420 | |
41 |
9,010 | 2,089 | 611 | - | - | - | - | |
54/58 |
8,106 | 82,854 | 24,468 | 12,597 | 14,380 | 15,102 | 606 | |
490/1 |
1,978 | 1,916 | 1,677 | 724 | 736 | 1,016 | 169 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
41,560 | 119,811 | 58,781 | 64,351 | 68,887 | 80,707 | 49,773 | |
10/15 |
25,744 | 24,808 | 22,792 | 15,028 | 12,246 | 10,714 | 6,392 | |
10/11 |
6,200 | 6,200 | 6,386 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | 6,200 | 6,200 | - | - | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 6,200 | |
101 |
- | - | - | 12,400 | 12,400 | 12,400 | - | |
13 |
2,186 | 2,186 | - | 186 | 186 | 186 | - | |
130/1 |
- | - | - | 186 | 186 | 186 | - | |
130 |
- | - | - | 186 | 186 | 186 | - | |
133 |
2,186 | 2,186 | - | - | - | - | - | |
14 |
17,358 | 16,422 | 16,406 | 8,642 | 5,860 | 4,328 | 192 | |
17/49 |
15,816 | 95,003 | 35,989 | 49,323 | 56,642 | 69,994 | 43,381 | |
17 |
- | - | 14,875 | 24,557 | 34,032 | 43,303 | 20,864 | |
170/4 |
- | - | 14,875 | 24,557 | 34,032 | 43,303 | 20,864 | |
42/48 |
15,816 | 59,163 | 21,113 | 24,765 | 22,610 | 26,691 | 22,517 | |
42 |
- | 14,875 | 9,682 | 9,474 | 9,271 | 9,072 | 5,630 | |
44 |
4,277 | 3,847 | 2,373 | 647 | 3,592 | 1,546 | 5,730 | |
440/4 |
4,277 | 3,847 | 2,373 | 647 | 3,592 | 1,546 | 5,730 | |
45 |
11,414 | 40,441 | 9,059 | 7,086 | 5,076 | 9,018 | 1,910 | |
450/3 |
11,414 | 30,441 | 9,059 | 7,086 | 5,076 | 9,018 | 1,910 | |
454/9 |
- | 10,000 | - | - | - | - | - | |
47/48 |
125 | - | - | 7,559 | 4,671 | 7,055 | 9,246 | |
492/3 |
- | 35,840 | - | - | - | - | - | |
| Income statement | ||||||||
9900 |
8,671 | 20,678 | 28,186 | 20,024 | 19,715 | 44,493 | 11,413 | |
630 |
5,208 | 14,988 | 15,092 | 13,362 | 15,140 | 6,251 | 9,425 | |
640/8 |
1,017 | 1,531 | 2,011 | 1,777 | 1,638 | 31,226 | 800 | |
9901 |
2,446 | 4,159 | 11,082 | 4,885 | 2,937 | 7,017 | 1,188 | |
75/76B |
128 | 188 | - | 6 | 500 | - | 0 | |
75 |
128 | 188 | - | 6 | 500 | - | 0 | |
65/66B |
618 | 703 | 627 | 935 | 1,084 | 1,143 | 573 | |
65 |
618 | 703 | 627 | 935 | 1,084 | 1,143 | 573 | |
9903 |
1,956 | 3,645 | 10,455 | 3,956 | 2,353 | 5,874 | 616 | |
67/77 |
1,020 | 1,629 | 2,691 | 1,173 | 821 | 1,552 | 424 | |
9904 |
936 | 2,016 | 7,764 | 2,783 | 1,532 | 4,322 | 192 | |
9905 |
936 | 2,016 | 7,764 | 2,783 | 1,532 | 4,322 | 192 | |
| Appropriation of the result | ||||||||
9906 |
17,358 | 18,422 | 16,406 | 8,642 | 5,860 | 4,514 | 192 | |
14P |
16,422 | 16,406 | 8,642 | 5,860 | 4,328 | - | - | |
691/2 |
- | 2,000 | - | - | - | 186 | - | |
6920 |
- | - | - | - | - | 186 | - | |
6921 |
- | 2,000 | - | - | - | - | - | |
| Document | ||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 01-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-06-2026 | 2026-00129357 | |
| 31-12-2024 | micro format | 25-06-2025 | 2025-00174873 | |
| 31-12-2023 | micro format | 07-06-2024 | 2024-00115154 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00118784 | |
| 31-12-2021 | micro format | 08-06-2022 | 2022-20049091 | |
| 31-12-2020 | micro format | 03-06-2021 | 2021-17000199 | |
| 31-12-2019 | micro format | 11-08-2020 | 2020-40300585 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 7,654 | 19,147 | 26,175 | 18,247 | 18,077 | 13,268 | 10,614 | ||
| 6,144 | 17,004 | 22,857 | 16,145 | 16,672 | 10,572 | 9,617 | ||
| 9,232 | 3,535 | 1,050 | 7,870 | 2,982 | 56,732 | 41,002 | ||
| -74,748 | 58,386 | 11,871 | -1,783 | -721 | 14,495 | - | ||
| 14,398 | 45,097 | 10,664 | 429 | 1,629 | -2,790 | -4,321 | ||
| 61.9% | 20.7% | 38.8% | 23.4% | 17.8% | 13.3% | 12.8% | ||
| 1.91 | 1.76 | 1.51 | 1.02 | 1.07 | 0.90 | 0.81 | ||
| 0.61 | 3.83 | 1.58 | 3.28 | 4.63 | 6.53 | 6.79 | ||
| 3.6% | 8.1% | 34.1% | 18.5% | 12.5% | 40.3% | 3.0% | ||
| 2.3% | 1.7% | 13.2% | 4.3% | 2.2% | 5.4% | 0.4% | ||
| 12.38 | 27.25 | 41.72 | 19.51 | 16.68 | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €9,175 | €3,535 | €1,050 | €7,870 | €2,982 |
| Financial fixed assets | €56 | - | - | - | - |
| €5,208 | €14,988 | €15,092 | €13,362 | €15,140 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 41% lower than in 2024 and the lowest since 2019. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 79.3% to 38.1%. Equity is higher and debt is lower.
E-dem has no parent and no holdings in its annual accounts. E-dem shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Les Bôles 60 registered office 5350 Ohey | 16-01-2019 | 2.283.750.281 |
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