Emaco
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 31 filings
Turnover
≈ €130,000
Estimated: probably between €61,000 and €320,000
Total assets
€43,262▼ 0.1%
2024 · €43,314
Net result
-€1,344▲ 66.1%
2024 · -€3,969
Working capital
€31,837▼ 4.1%
2024 · €33,181
In the rankings
#4 oldest company in Leopoldsburg, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€1,204
▲ 69.5%
2025
20182025
Net result
-€1,344
▲ 66.1%
2025
lowest quarter of the sector
20182025
Equity
€31,537
▼ 4.1%
2025
middle half of the sector
20182025
Total assets
€43,262
▼ 0.1%
2025
lowest quarter of the sector
20182025
Debt
€11,726
▲ 12.4%
2025
20182025
Working capital
€31,837
▼ 4.1%
2025
middle half of the sector
20182025
Solvency
72.9%
▼ 3.0pp
2025
highest quarter of the sector
20182025
Current ratio
3.79
▼ 0.49
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-3.1%
▲ 6.1pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€172-€3,161-€6,105€1,544€6,534▲ 323%-€8,913-€3,944▲ 55.7%-€1,204▲ 69.5%
Net result-€215-€2,495-€6,123below the sector's middle half€1,520within the sector's middle half€6,048within the sector's middle half▲ 298%-€8,935below the sector's middle half-€3,969below the sector's middle half▲ 55.6%-€1,344below the sector's middle half▲ 66.1%
Equity€41,843-€44,338▲ 6.0%€38,216within the sector's middle half▼ 13.8%€39,736within the sector's middle half▲ 4.0%€45,785within the sector's middle half▲ 15.2%€36,850within the sector's middle half▼ 19.5%€32,881within the sector's middle half▼ 10.8%€31,537within the sector's middle half▼ 4.1%
Total assets€48,575-€51,557▲ 6.1%€46,291below the sector's middle half▼ 10.2%€47,747below the sector's middle half▲ 3.1%€55,980below the sector's middle half▲ 17.2%€45,613below the sector's middle half▼ 18.5%€43,314below the sector's middle half▼ 5.0%€43,262below the sector's middle half▼ 0.1%
Debt€6,731-€7,219▲ 7.2%€8,075▲ 11.9%€8,011▼ 0.8%€10,195▲ 27.3%€8,763▼ 14.1%€10,433▲ 19.1%€11,726▲ 12.4%
Working capital€41,843-€44,338▲ 6.0%€38,216within the sector's middle half▼ 13.8%€39,736within the sector's middle half▲ 4.0%€45,785within the sector's middle half▲ 15.2%€36,850within the sector's middle half▼ 19.5%€33,181within the sector's middle half▼ 10.0%€31,837within the sector's middle half▼ 4.1%
Solvency86.1%-86.0%▼ 0.1pp82.6%above the sector's middle half▼ 3.4pp83.2%above the sector's middle half▲ 0.7pp81.8%above the sector's middle half▼ 1.4pp80.8%above the sector's middle half▼ 1.0pp75.9%above the sector's middle half▼ 4.9pp72.9%above the sector's middle half▼ 3.0pp
Current ratio7.22-7.14▼ 0.075.73above the sector's middle half▼ 1.415.96above the sector's middle half▲ 0.235.49above the sector's middle half▼ 0.475.21above the sector's middle half▼ 0.294.27above the sector's middle half▼ 0.933.79above the sector's middle half▼ 0.49
Return on assets (ROA)-0.4%-4.8%▲ 5.3pp-13.2%below the sector's middle half▼ 18.1pp3.2%within the sector's middle half▲ 16.4pp10.8%within the sector's middle half▲ 7.6pp-19.6%below the sector's middle half▼ 30.4pp-9.2%below the sector's middle half▲ 10.4pp-3.1%below the sector's middle half▲ 6.1pp
Staff (FTE)0.3-0.3=0.3below the sector's middle half=1▲ 233%1=1=1=1=
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €1,204, smaller than the loss of €3,944 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €43,262
Equity
€31,537 ▼ 4.1%
Debt
€11,726 ▲ 12.4%
Debt's share of the balance-sheet total rises from 24.1% to 27.1%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.37▲
2024 · 0.32
ROE
-4.3%▲
2024 · -12.1%
Debt ≤ 1 year
€11,426▲
2024 · €10,133
Staff costs
€18,508▲
2024 · €15,867
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Average over the year, in full-time equivalents | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €14,624 | €14,913 | €15,180 | €15,867 | €18,508 | ▲ 16.6% |
| Gross operating margin9900 | €10,504 | €15,761 | €8,781 | €16,167 | €21,446 | €6,267 | €11,923 | €17,304 | ▲ 45.1% |
| Operating profit (loss)9901 | -€172 | €3,161 | -€6,105 | €1,544 | €6,534 | -€8,913 | -€3,944 | -€1,204 | ▲ 69.5% |
| Recurring financial income75 | - | - | €3 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €23 | €24 | €22 | €25 | €140 | ▲ 461% |
| Recurring financial charges65 | €43 | €35 | €21 | €23 | €24 | €22 | €25 | €140 | ▲ 461% |
| Profit (loss) for the period before taxes9903 | -€215 | €3,126 | -€6,123 | €1,520 | €6,510 | -€8,935 | -€3,969 | -€1,344 | ▲ 66.1% |
| Income taxes67/77 | - | €632 | - | - | €461 | - | - | - | - |
| Profit (loss) for the period9904 | -€215 | €2,495 | -€6,123 | €1,520 | €6,048 | -€8,935 | -€3,969 | -€1,344 | ▲ 66.1% |
| Profit (loss) for the period to be appropriated9905 | -€215 | €2,495 | -€6,123 | €1,520 | €6,048 | -€8,935 | -€3,969 | -€1,344 | ▲ 66.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €48,575 | €51,557 | €46,291 | €47,747 | €55,980 | €45,613 | €43,314 | €43,262 | ▼ 0.1% |
| Current assets29/58 | €48,575 | €51,557 | €46,291 | €47,747 | €55,980 | €45,613 | €43,314 | €43,262 | ▼ 0.1% |
| Amounts receivable within one year40/41 | €1,857 | €1,243 | €1,243 | €23,250 | €16,879 | €9,644 | €13,128 | €12,929 | ▼ 1.5% |
| Trade receivables40 | - | - | - | €23,250 | €16,879 | €9,644 | €13,128 | €12,929 | ▼ 1.5% |
| Cash at bank and in hand54/58 | €46,265 | €49,957 | €44,689 | €24,149 | €38,785 | €35,588 | €29,881 | €30,024 | ▲ 0.5% |
| Deferred charges and accrued income490/1 | - | - | - | €348 | €316 | €381 | €304 | €309 | ▲ 1.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €48,575 | €51,557 | €46,291 | €47,747 | €55,980 | €45,613 | €43,314 | €43,262 | ▼ 0.1% |
| Equity10/15 | €41,843 | €44,338 | €38,216 | €39,736 | €45,785 | €36,850 | €32,881 | €31,537 | ▼ 4.1% |
| Contributions10/11 | €6,205 | €6,205 | - | €6,205 | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Reserves13 | €34,664 | €35,638 | €35,638 | €35,638 | €35,638 | €35,638 | €35,638 | €35,638 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €33,778 | €33,778 | €33,778 | €33,778 | €33,778 | = |
| Profit (loss) carried forward14 | €975 | €2,495 | -€3,628 | -€2,107 | €3,941 | -€4,994 | -€8,963 | -€10,307 | ▼ 15.0% |
| Amounts payable17/49 | €6,731 | €7,219 | €8,075 | €8,011 | €10,195 | €8,763 | €10,433 | €11,726 | ▲ 12.4% |
| Amounts payable within one year42/48 | €6,731 | €7,219 | €8,075 | €8,011 | €10,195 | €8,763 | €10,133 | €11,426 | ▲ 12.8% |
| Trade debts44 | €895 | €755 | €1,520 | €1,697 | €1,166 | €1,730 | €1,717 | €2,991 | ▲ 74.2% |
| Suppliers440/4 | - | - | - | €1,697 | €1,166 | €1,730 | €1,717 | €2,991 | ▲ 74.2% |
| Taxes, remuneration and social security45 | - | - | - | €4,927 | €7,643 | €5,688 | €7,071 | €7,090 | ▲ 0.3% |
| Taxes450/3 | - | - | - | €1,953 | €4,450 | €3,080 | €3,806 | €3,627 | ▼ 4.7% |
| Remuneration and social security454/9 | - | - | - | €2,974 | €3,193 | €2,608 | €3,265 | €3,463 | ▲ 6.0% |
| Other amounts payable47/48 | - | - | - | €1,387 | €1,387 | €1,345 | €1,345 | €1,345 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €300 | €300 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€215 | €2,495 | -€6,123 | €1,520 | €6,048 | -€8,935 | -€3,969 | -€1,344 | ▲ 66.1% |
| Operating cash flow (approximation) | -€215 | €2,495 | -€6,123 | €1,520 | €6,048 | -€8,935 | -€3,969 | -€1,344 | ▲ 66.1% |
| Change in cash | - | €3,691 | -€5,268 | -€20,539 | €14,636 | -€3,197 | -€5,707 | €143 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as Emaco has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Emaco itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 12,322 companies, not a prediction for Emaco. 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.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00278333 | |
| 31-12-2024 | micro format | 20-06-2025 | 2025-00157241 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00205226 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00150563 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20088776 | |
| 31-12-2020 | micro format | 16-07-2021 | 2021-36300395 | |
| 31-12-2019 | micro format | 05-06-2020 | 2020-14900385 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24600224 | |
| 31-12-2017 | micro format | 07-06-2018 | 2018-17000486 | |
| 31-12-2016 | micro format | 23-06-2017 | 2017-21400490 |