EMADIN · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of EMADIN is 0.3% (very low). The 2023 annual accounts show equity of €16k and a net result of €2k. Equity is growing by ~32.6% per year across the filed fiscal years. Its solvency ranks better than 31% of 10129 sector peers (fiscal year 2023). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Signals

Insufficient current data: the most recent filed accounts (financial year 2023) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 30-06-2024 was due at the National Bank by 31-01-2025. Nothing is on record today, 568 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 30-06-2023 was due by 31-01-2024 and was filed on 05-06-2024, 126 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2023, that is 31-01-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	nothing on record	not filed	-
30-06-2024	31-01-2025	nothing on record	not filed	-
30-06-2023	31-01-2024	05-06-2024	126 d late	2024-00111864
30-06-2022	31-01-2023	26-02-2023	26 d late	2023-00031404
30-06-2021	31-01-2022	31-01-2022	on the day	2022-02800548
30-06-2020	31-01-2021	31-01-2021	on the day	2021-03200109
30-06-2019	31-01-2020	29-01-2020	2 d early	2020-02400593
30-06-2018	31-01-2019	31-12-2018	31 d early	2018-75900231
30-06-2017	31-01-2018	23-12-2017	39 d early	2017-72900134
30-06-2016	31-01-2017	19-12-2016	43 d early	2016-70300291
30-06-2015	31-01-2016	20-12-2015	42 d early	2015-70000386
30-06-2014	31-01-2015	22-01-2015	9 d early	2015-02400510

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1998, 27 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.3% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Higher-failure-rate region +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€27k+45.0%

EBIT margin9.6%-60.1pp

Net result€2k-81.9%

Working capital€2k

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 05-06-2024 with the NBB · fiscal year 2023 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~32.5%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 70, Head offices & management consulting · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	37.6%	58.5%	better than 31% of 10129 sector peers
Net result	€2k	€27k	better than 20% of 10123 sector peers
Equity	€16k	€52k	better than 24% of 10136 sector peers
Gross operating margin	€4k	€46k	better than 14% of 10109 sector peers
Total assets	€44k	€107k	better than 21% of 10129 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P31

Improving position over 2020-2023 · n=1438-10129

Net result P20

Stable position over 2020-2023 · n=1438-10123

Equity P24

Improving position over 2020-2023 · n=1441-10136

Gross operating margin P14

Improving position over 2020-2023 · n=1436-10109

Describes the position versus peers, not a forecast.

Revenue

€27k

+45.0% 19-23

Net profit

€2k

-81.9% 19-23

Total assets

€44k

+56.3% 19-23

Equity

€16k

+15.3% 19-23

Working capital

€2k

- 19-23

Debt

€27k

+99.0% 19-23

Debt ≤ 1y

€28k

+483.1% 19-23

Debt > 1y

€27k

+99.0% 19-23

Show 7 other metrics

Current ratio

1.08

+11.8% 19-23

Quick ratio

1.08

+11.8% 19-23

Solvency

37.6%

-26.2% 19-23

Debt / equity

1.66

+72.5% 19-23

ROE

13.3%

-84.3% 19-23

ROA

5.0%

-88.4% 19-23

Net margin

8.2%

-87.5% 19-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	€27k
EBITDA	-
Net profit	€2k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€44k
Equity	€16k
Debt	€27k
of which ≤ 1y	-
of which > 1y	€27k
Working capital	-
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	-
Quick ratio	-
Working capital ratio	-
Solvency	37.6%
Debt / equity	1.66
Long-term debt ratio	1.66
Interest coverage	-
Gross margin	13.3%
Net margin	8.2%
ROA	5.0%
ROE	13.3%
EBITDA margin	-
Days sales outstanding	6d
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Equity & liabilities

Equity €16k · 37.6% Debt €27k · 62.4%

Full annual accounts (18 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€44k
Current assets	29/58	€44k
Amounts receivable within one year	40/41	€38k
Cash & bank	54/58	€6k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€44k
Equity	10/15	€16k
Contributions / capital	10/11	€62k
Reserves	13	€911
Accumulated profits (losses)	14	€-46k
Amounts payable	17/49	€27k
Amounts payable after one year	17	€27k
Income statement
Turnover	70	€27k
Gross operating margin	9900	€4k
Operating result	9901	€3k
Financial charges	65	€374
Result before taxes	9903	€2k
Net result for the period	9904	€2k
Result to be appropriated	9905	€2k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

63 / 100 Healthy

050100

Computed from 3 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Directors

Directors & mandates

1 director

Former directors (1)

Demetrius David
Managing director
State Gazette act 25087142 (10-07-2025)

Former
- → 10-07-2025
2 events
- 10-07-2025 Resigned· Managing director
- 22-12-2024 Resigned· Director

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies(70200)
Legal form	Public limited company(014)
Incorporation	30-12-1998
Status	Active
Postal code	1050

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Marsveldplein 51050 Elsene

Establishment units

1 location

Louizalaan 109, 1050 Brussel

Overige adviesbureaus op het gebied van bedrijfsvoering en beheer

since 20032.123.434.225

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area4,407 m²

Buildings2

Building footprint1,435 m²

Volume (LiDAR)100,303 m³

Tallest building99.0 m · ±27 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21009A0769/00S002	Brussels	3,724 m²	1 · 1,306 m²	99.0 m · 27 fl.
21807G0054/00D000	Brussels	683 m²	1 · 130 m²	20.6 m · 6 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

1 acts

All acts · 1 updated 1 year ago

2025

10-07-2025 1 director appointed, 2 resigning Director changes

Marion de Crombrugghe, Délégé
Demetrius David, Bestuurder
Demetrius David, Gedelegeerd bestuurder

Original publication ↗

Analysis

Financial profile

5 of 5 axes measured

77 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 63

Profitability 66

Solvency 71

Growth 85

Stability 100

Credit advice

verdict per customer and amount

Similar

Similar companies

Comparable size, same sector

Freelance Admin Hero

BE 0794.471.669 · Keerbergen

Eq €17k→

Vsible

BE 0789.360.759 · Hove

Eq €17k→

YVO Invest

BE 0785.528.269 · Laakdal

Eq €16k→

SB Management & Consulting

BE 0795.457.705 · Edegem

Eq €17k→

BXL Tech

BE 0777.828.548 · La Hulpe

Eq €17k→

We hold annual accounts for 15,462 of the 82,110 companies in this sector. 10,991 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220

Primary activity highlighted.

Names & trade names

Legal nameFR

EMADIN

Registered office

Marsveldplein 5

1050 Elsene, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.