EM IMMO
ActiveSummary
EM IMMO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.11M and a net result of €-146k. Equity is shrinking by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 88% of 729 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-19
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 6.24 against 32.32 in 2024; short-term debt: 16% and cash: 0.6% of total assets), and 16% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
84%
Return on assets
-11.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-146k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
29 d late
2023
27 d late
2022
28 d late
2021
29 d late
2020
29 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.89M
EBIT margin
-1.6%
Net result
€-146k▼ 244%
2024 · €-42k
Working capital
€1.11M▼ 12.0%
2024 · €1.26M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.89M
Operating result€37k▼ 2.8%€-120k€38k€-31k€-142k▼ 360%
Net result€2k▼ 86.1%€-160k€-7k▲ 95.9%€-42k▼ 542%€-146k▼ 244%
EBIT margin-1.6%
Equity€1.46M▲ 0.1%€1.30M▼ 10.9%€1.30M▼ 0.5%€1.25M▼ 3.3%€1.11M▼ 11.7%
Total assets€3.56M▲ 8.4%€2.55M▼ 28.4%€2.56M▲ 0.4%€1.30M▼ 49.2%€1.32M▲ 1.5%
Debt€2.10M▲ 15.0%€1.25M▼ 40.6%€1.26M▲ 1.4%€46k▼ 96.4%€211k▲ 360%
Working capital€1.46M▲ 0.1%€1.30M▼ 10.9%€1.30M▼ 0.5%€1.26M▼ 2.8%€1.11M▼ 12.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €142k in 2025 against €31k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.32M
Equity
€1.11M ▼ 11.7%
Debt
€211k ▲ 360%
Debt's share of the balance-sheet total rises from 3.5% to 16.0%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
6.24▼
2024 · 32.32
Quick ratio
3.09▼
2024 · 29.01
Debt to equity
0.19▲
2024 · 0.04
ROE
-13.2%▼
2024 · -3.4%
ROA
-11.1%▼
2024 · -3.3%
Debt ≤ 1 year
€211k▲
2024 · €40k
Income taxes
€0=
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €1.89M | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €163k | €17k | ▼ 89.5% |
| Other operating charges640/8 | €2k | €2k | €1k | €2k | €1k | ▼ 45.6% |
| Operating charges capitalised as restructuring costs649 | - | - | - | €0 | - | - |
| Gross operating margin9900 | €38k | €-118k | €39k | €-29k | €-141k | ▼ 387% |
| Operating profit (loss)9901 | €37k | €-120k | €38k | €-31k | €-142k | ▼ 360% |
| Financial income75/76B | - | - | €23 | €767 | €279 | ▼ 63.6% |
| Recurring financial income75 | - | - | €23 | €767 | €279 | ▼ 63.6% |
| Financial charges65/66B | €34k | €41k | €44k | €12k | €4k | ▼ 63.7% |
| Recurring financial charges65 | €34k | €41k | €44k | €12k | €4k | ▼ 63.7% |
| Profit (loss) for the period before taxes9903 | €3k | €-160k | €-7k | €-42k | €-146k | ▼ 244% |
| Income taxes67/77 | €708 | - | - | €0 | €0 | - |
| Profit (loss) for the period9904 | €2k | €-160k | €-7k | €-42k | €-146k | ▼ 244% |
| Profit (loss) for the period to be appropriated9905 | €2k | €-160k | €-7k | €-42k | €-146k | ▼ 244% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.56M | €2.55M | €2.56M | €1.30M | €1.32M | ▲ 1.5% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Current assets29/58 | €3.56M | €2.55M | €2.56M | €1.30M | €1.32M | ▲ 1.5% |
| Stocks and contracts in progress3 | €2.35M | €1.56M | €1.91M | €133k | €665k | ▲ 400% |
| Stocks30/36 | €2.35M | €1.56M | €1.91M | €133k | €665k | ▲ 400% |
| Amounts receivable within one year40/41 | €705k | €705k | €597k | €960k | €645k | ▼ 32.8% |
| Trade receivables40 | €676k | €644k | €255k | €203k | €232k | ▲ 14.6% |
| Other amounts receivable41 | €29k | €61k | €342k | €757k | €412k | ▼ 45.5% |
| Cash at bank and in hand54/58 | €504k | €280k | €49k | €207k | €8k | ▼ 96.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.56M | €2.55M | €2.56M | €1.30M | €1.32M | ▲ 1.5% |
| Equity10/15 | €1.46M | €1.30M | €1.30M | €1.25M | €1.11M | ▼ 11.7% |
| Contributions10/11 | €1.00M | €1.00M | €1.00M | €1.00M | €1.00M | = |
| Outside capital11 | - | - | - | €1.00M | €1.00M | = |
| Other1109/19 | - | - | - | €1.00M | €1.00M | = |
| Reserves13 | €450k | €300k | €290k | €250k | €105k | ▼ 58.0% |
| Non-distributable reserves130/1 | €70k | €70k | €70k | €70k | €70k | = |
| Reserves not available under the articles1311 | €70k | €70k | €70k | €70k | €70k | = |
| Distributable reserves133 | €380k | €230k | €220k | €180k | €35k | ▼ 80.6% |
| Profit (loss) carried forward14 | €13k | €2k | €6k | €3k | €2k | ▼ 30.1% |
| Amounts payable17/49 | €2.10M | €1.25M | €1.26M | €46k | €211k | ▲ 360% |
| Amounts payable within one year42/48 | €2.10M | €1.25M | €1.26M | €40k | €211k | ▲ 425% |
| Financial debts43 | €709k | €1.14M | €992k | €0 | €200k | - |
| Credit institutions430/8 | €709k | €1.14M | €992k | €0 | €200k | - |
| Trade debts44 | €1.28M | €80k | €149k | €1k | €10k | ▲ 773% |
| Suppliers440/4 | €1.28M | €80k | €149k | €1k | €10k | ▲ 773% |
| Taxes, remuneration and social security45 | €104k | €63 | - | €38k | €0 | ▼ 100% |
| Taxes450/3 | €104k | €63 | - | €38k | €0 | ▼ 100% |
| Other amounts payable47/48 | €2k | €22k | €122k | €2k | €2k | = |
| Accrued charges and deferred income492/3 | - | - | - | €6k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €-160k | €-7k | €-42k | €-146k | ▼ 244% |
| Operating cash flow (approximation) | €2k | €-160k | €-7k | €-42k | €-146k | ▼ 244% |
| Change in cash | - | €-224k | €-232k | €158k | €-198k | ▼ 225% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Liquidity times 16current ratio 32.32
Current ratio from 2.03 to 32.32; short-term debt falls from €1.26M to €40k.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €-160k
Net result drops to €-160k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 29 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ans · 1 establishment unit since 2011
Ground area
6,635 m²
Building footprint
734 m²
Volume, LiDAR
3,601 m³
2 parcels, Wallonia · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EM IMMO
since 20112.199.447.581
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62011B0963/00D000 | Wallonia | 5,181 m² | 1 · 160 m² | 8.0 m · 2 fl. |
| 62001A0026/00N002 | Wallonia | 1,454 m² | 1 · 574 m² | 10.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 3,264 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-05-2011
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.