Summary
EMAJU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €176,613 and a net result of €158,013. Equity remains stable across the filed financial years (±0.3% per year). Its solvency ranks better than 43% of 9,743 sector peers (NACE 64, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
In the rankings
#10 oldest company in Zwalm, Finance and insurance sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€176,613▲ 29.9%
2024 · €136,002
Net result
€158,013▲ 34.6%
2024 · €117,402
Total assets
€409,205▼ 12.2%
2024 · €465,940
Solvency
43.2%▲ 14.0pp
2024 · 29.2%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 46% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€217,458
2025
Net result€158,013
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€409,205
2025
Equity€176,613
2025
Debt€232,592
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€46,554
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)38.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency43.2%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.68
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€198,305-€191,451▼ 3.5%€170,188▼ 11.1%€142,380▼ 16.3%€210,710▲ 48.0%€219,664▲ 4.2%€149,090▼ 32.1%€217,458▲ 45.9%
Net result€153,989-€136,110▼ 11.6%€129,283above the sector's middle half▼ 5.0%€105,315above the sector's middle half▼ 18.5%€157,989above the sector's middle half▲ 50.0%€163,755above the sector's middle half▲ 3.6%€117,402above the sector's middle half▼ 28.3%€158,013above the sector's middle half▲ 34.6%
Equity€285,343-€39,210▼ 86.3%€168,493within the sector's middle half▲ 330%€144,525within the sector's middle half▼ 14.2%€178,449within the sector's middle half▲ 23.5%€184,215within the sector's middle half▲ 3.2%€136,002within the sector's middle half▼ 26.2%€176,613within the sector's middle half▲ 29.9%
Total assets€693,813-€276,897▼ 60.1%€285,650within the sector's middle half▲ 3.2%€517,870within the sector's middle half▲ 81.3%€521,613within the sector's middle half▲ 0.7%€444,569within the sector's middle half▼ 14.8%€465,940within the sector's middle half▲ 4.8%€409,205within the sector's middle half▼ 12.2%
Debt€387,095-€237,687▼ 38.6%€117,157▼ 50.7%€373,345▲ 219%€343,165▼ 8.1%€260,354▼ 24.1%€329,938▲ 26.7%€232,592▼ 29.5%
Working capital€178,207-€22,937▼ 87.1%€131,796above the sector's middle half▲ 475%€102,458within the sector's middle half▼ 22.3%€43,190within the sector's middle half▼ 57.8%€44,955within the sector's middle half▲ 4.1%€3,900within the sector's middle half▼ 91.3%€46,554within the sector's middle half▲ 12×
Solvency41.1%-14.2%▼ 27.0pp59.0%within the sector's middle half▲ 44.8pp27.9%within the sector's middle half▼ 31.1pp34.2%within the sector's middle half▲ 6.3pp41.4%within the sector's middle half▲ 7.2pp29.2%within the sector's middle half▼ 12.2pp43.2%within the sector's middle half▲ 14.0pp
Current ratio2.14-1.10▼ 1.042.56within the sector's middle half▲ 1.461.83within the sector's middle half▼ 0.731.35within the sector's middle half▼ 0.471.71within the sector's middle half▲ 0.361.03within the sector's middle half▼ 0.691.68within the sector's middle half▲ 0.66
Return on assets (ROA)22.2%-49.2%▲ 27.0pp45.3%above the sector's middle half▼ 3.9pp20.3%within the sector's middle half▼ 24.9pp30.3%above the sector's middle half▲ 10.0pp36.8%above the sector's middle half▲ 6.5pp25.2%within the sector's middle half▼ 11.6pp38.6%above the sector's middle half▲ 13.4pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin 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
Assets €409,205
Fixed assets
€294,615 ▼ 5.9%
Current assets
€114,590 ▼ 25.1%
Equity and liabilities €409,205
Equity
€176,613 ▲ 29.9%
Debt
€232,592 ▼ 29.5%
Debt's share of the balance-sheet total falls from 70.8% to 56.8%. Equity is higher and debt is lower.
Key figures and ratios
ROE
89.5%▲
2024 · 86.3%
Debt ≤ 1 year
€68,036▼
2024 · €149,059
Debt > 1 year
€164,556▼
2024 · €180,880
Income taxes
€59,723▲
2024 · €30,890
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,521 | €7,766 | €8,973 | €35,753 | €26,689 | €27,794 | €28,094 | €23,034 | ▼ 18.0% |
| Other operating charges640/8 | - | - | - | €1,026 | €2,793 | €1,500 | €2,640 | €22,393 | ▲ 748% |
| Gross operating margin9900 | €226,563 | €210,033 | €181,461 | €179,159 | €240,192 | €248,958 | €179,824 | €262,885 | ▲ 46.2% |
| Operating profit (loss)9901 | €198,305 | €191,451 | €170,188 | €142,380 | €210,710 | €219,664 | €149,090 | €217,458 | ▲ 45.9% |
| Financial income75/76B | - | - | - | €2,698 | €2,802 | €2,898 | €2,898 | €4,976 | ▲ 71.7% |
| Recurring financial income75 | €3,381 | €76 | €15 | €2,698 | €2,802 | €2,898 | €2,898 | €4,976 | ▲ 71.7% |
| Financial charges65/66B | - | - | - | €2,911 | €3,261 | €3,235 | €3,696 | €4,699 | ▲ 27.1% |
| Recurring financial charges65 | €4,125 | €4,786 | €1,196 | €2,911 | €3,261 | €3,235 | €3,696 | €4,699 | ▲ 27.1% |
| Profit (loss) for the period before taxes9903 | €197,561 | €186,741 | €169,007 | €142,167 | €210,251 | €219,327 | €148,292 | €217,735 | ▲ 46.8% |
| Income taxes67/77 | €44,697 | €50,631 | €39,723 | €36,852 | €52,262 | €55,572 | €30,890 | €59,723 | ▲ 93.3% |
| Profit (loss) for the period9904 | €153,989 | €136,110 | €129,283 | €105,315 | €157,989 | €163,755 | €117,402 | €158,013 | ▲ 34.6% |
| Transfer from tax-exempt reserves789 | - | - | - | €18,750 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €153,989 | €136,110 | €129,283 | €124,065 | €157,989 | €163,755 | €117,402 | €158,013 | ▲ 34.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €693,813 | €276,897 | €285,650 | €517,870 | €521,613 | €444,569 | €465,940 | €409,205 | ▼ 12.2% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €359,271 | €16,273 | €69,254 | €291,254 | €355,855 | €336,421 | €312,982 | €294,615 | ▼ 5.9% |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €359,271 | €16,273 | €69,254 | €291,254 | €355,855 | €336,421 | €312,982 | €294,615 | ▼ 5.9% |
| Land and buildings22 | - | - | - | €237,465 | €225,587 | €219,785 | €210,622 | €203,897 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €524 | €1,072 | ▲ 105% |
| Furniture and vehicles24 | - | - | - | €53,789 | €51,297 | €38,758 | €27,317 | €18,484 | ▼ 32.3% |
| Other tangible fixed assets26 | - | - | - | - | €78,970 | €77,877 | €74,519 | €71,162 | ▼ 4.5% |
| Financial fixed assets28 | €0 | €0 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €334,542 | €260,624 | €216,396 | €226,616 | €165,758 | €108,148 | €152,958 | €114,590 | ▼ 25.1% |
| Amounts receivable after more than one year29 | - | - | - | €67,441 | €72,441 | €72,441 | €72,441 | €72,441 | = |
| Other amounts receivable291 | - | - | - | €67,441 | €72,441 | €72,441 | €72,441 | €72,441 | = |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €124,761 | €177,135 | €54,651 | €55,115 | €62,097 | €14,296 | €16,412 | €9,399 | ▼ 42.7% |
| Trade receivables40 | - | - | - | €0 | €41,106 | €6,080 | €2,302 | €2,352 | ▲ 2.1% |
| Other amounts receivable41 | - | - | - | €55,115 | €20,991 | €8,216 | €14,110 | €7,047 | ▼ 50.1% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €143,748 | €17,556 | €100,184 | €99,549 | €26,815 | €16,564 | €58,958 | €25,351 | ▼ 57.0% |
| Deferred charges and accrued income490/1 | - | - | - | €4,510 | €4,406 | €4,847 | €5,147 | €7,399 | ▲ 43.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €693,813 | €276,897 | €285,650 | €517,870 | €521,613 | €444,569 | €465,940 | €409,205 | ▼ 12.2% |
| Equity10/15 | €285,343 | €39,210 | €168,493 | €144,525 | €178,449 | €184,215 | €136,002 | €176,613 | ▲ 29.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €202,618 | €20,610 | €149,893 | €125,925 | €159,849 | €165,615 | €117,402 | €158,013 | ▲ 34.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €124,065 | €157,989 | €165,615 | €117,402 | €158,013 | ▲ 34.6% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €21,375 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €387,095 | €237,687 | €117,157 | €373,345 | €343,165 | €260,354 | €329,938 | €232,592 | ▼ 29.5% |
| Amounts payable after more than one year17 | €230,760 | - | €32,558 | €249,187 | €220,597 | €197,080 | €180,880 | €164,556 | ▼ 9.0% |
| Financial debts170/4 | - | - | - | €249,187 | €220,597 | €197,080 | €180,880 | €164,556 | ▼ 9.0% |
| Amounts payable within one year42/48 | €156,335 | €237,687 | €84,599 | €124,157 | €122,568 | €63,194 | €149,059 | €68,036 | ▼ 54.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €61,711 | €45,320 | €40,183 | €31,505 | €35,054 | ▲ 11.3% |
| Trade debts44 | €24,837 | €303 | €22,047 | €27,010 | €63,029 | €1,217 | €2,014 | €1,808 | ▼ 10.3% |
| Suppliers440/4 | - | - | - | €27,010 | €63,029 | €1,217 | €2,014 | €1,808 | ▼ 10.3% |
| Taxes, remuneration and social security45 | - | - | - | €5,915 | €10,076 | €12,032 | €39,530 | €31,174 | ▼ 21.1% |
| Taxes450/3 | - | - | - | €5,915 | €10,076 | €12,032 | €39,530 | €31,174 | ▼ 21.1% |
| Other amounts payable47/48 | - | - | - | €29,522 | €4,143 | €9,761 | €76,010 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €80 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €153,989 | €136,110 | €129,283 | €105,315 | €157,989 | €163,755 | €117,402 | €158,013 | ▲ 34.6% |
| + Depreciation and write-downs630 | €26,521 | €7,766 | €8,973 | €35,753 | €26,689 | €27,794 | €28,094 | €23,034 | ▼ 18.0% |
| Operating cash flow (approximation) | €180,510 | €143,875 | €138,256 | €141,068 | €184,678 | €191,550 | €145,496 | €181,046 | ▲ 24.4% |
| Investment in fixed assets (approximation) | - | €335,232 | -€61,954 | -€257,752 | -€91,290 | -€8,360 | -€4,656 | -€4,666 | ▼ 0.2% |
| Change in cash | - | -€126,193 | €82,628 | -€634 | -€72,735 | -€10,251 | €42,394 | -€33,607 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 02-04-2026 | 2026-00073612 |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00473804 |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00260483 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00428422 |
| 31-12-2021 | micro format | 29-04-2022 | 2022-20020957 |
| 31-12-2020 | micro format | 03-06-2021 | 2021-17300415 |
| 31-12-2019 | micro format | 24-07-2020 | 2020-33800079 |
| 31-12-2018 | micro format | 12-07-2019 | 2019-32100383 |
| 31-12-2017 | micro format | 05-07-2018 | 2018-29000011 |
| 31-12-2016 | micro format | 04-07-2017 | 2017-28100273 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,128. 13,707 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.