Summary
EMALGA 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 €25k and a net result of €-13k. Equity is growing by ~34.4% per year across the filed fiscal years. Its solvency ranks better than 14% of 8023 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 8023 sector peers (2025).
NBB · sector comparisonPosition among 8023 sector peers
Solvency
better than 14%
← weakest
strongest →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
18 d early
2023
28 d late
2022
31 d late
2021
57 d late
2020
19 d late
2019
29 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€25k▼ 34.6%
2024 · €39k
2018: €-9k
2019: €-2k
2020: €17k
2021: €-18k
2022: €43k
2023: €29k
2024: €39k
2018 → 2025
Net result
€-13k
2024 · €9k
2018: €17k
2019: €7k
2020: €19k
2021: €-35k
2022: €60k
2023: €-13k
2024: €9k
2018 → 2025
Total assets
€340k▼ 6.1%
2024 · €362k
2018: €40k
2019: €37k
2020: €195k
2021: €231k
2022: €332k
2023: €331k
2024: €362k
2018 → 2025
Solvency
7.4%▼ 3.2pp
2024 · 10.7%
2018: -23.3%
2019: -5.9%
2020: 8.8%
2021: -7.6%
2022: 12.9%
2023: 8.9%
2024: 10.7%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-18k-€43k€29k▼ 31.2%€39k▲ 30.7%€25k▼ 34.6%
Operating result€-29k-€80k€-10k€13k€-73k
Net result€-35k-€60k€-13k€9k€-13k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €73k after €13k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €340k
Fixed assets
€201k ▼ 38.2%
Current assets
€139k ▲ 276%
Equity and liabilities €340k
Equity
€25k ▼ 34.6%
Debt
€314k ▼ 2.7%
Debt's share of the balance-sheet total rises from 89.3% to 92.6%. Equity and debt are lower.
Key figures and ratios
ROE
-52.9%▼
2024 · 22.5%
ROA
-3.9%▼
2024 · 2.4%
Debt ≤ 1 year
€154k▲
2024 · €122k
Debt > 1 year
€160k▼
2024 · €201k
Staff costs
€739
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€362k€340k▼
Fixed assets21/28€325k€201k▼
Tangible fixed assets22/27€325k€201k▼
Land and buildings22€109k€81k▼
Furniture and vehicles24€509€245▼
Other tangible fixed assets26€215k€119k▼
Current assets29/58€37k€139k▲
Stocks and contracts in progress3-€21k
Stocks30/36-€21k
Amounts receivable within one year40/41€36k€108k▲
Trade receivables40€0€33k▲
Other amounts receivable41€36k€75k▲
Cash at bank and in hand54/58€1k€7k▲
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€362k€340k▼
Equity10/15€39k€25k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€30k€17k▼
Amounts payable17/49€323k€314k▼
Amounts payable after more than one year17€201k€160k▼
Financial debts170/4€201k€160k▼
Amounts payable within one year42/48€122k€154k▲
Current portion of amounts payable after more than one year42€18k€9k▼
Trade debts44€22k€145k▲
Suppliers440/4€22k€145k▲
Taxes, remuneration and social security45€1k€0▼
Taxes450/3€1k€0▼
Other amounts payable47/48€80k€0▼
Income statement
Code20242025
Remuneration, social security and pensions62-€739
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€26k€-60k▼
Operating profit (loss)9901€13k€-73k▼
Financial income75/76B€1k€67k▲
Recurring financial income75€1k€6k▲
Non-recurring financial income76B-€60k
Financial charges65/66B€6k€7k▲
Recurring financial charges65€6k€7k▲
Profit (loss) for the period before taxes9903€9k€-13k▼
Income taxes67/77€0-
Profit (loss) for the period9904€9k€-13k▼
Profit (loss) for the period to be appropriated9905€9k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€30k€17k▼
Profit (loss) brought forward from the previous period14P€22k€30k▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €60k
Net result €60k after one loss-making year.
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 57 days late
2021
31-12
Financial
Weakest financial yearnet €-35k ▼280%
Net result drops to €-35k, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Elsene · 1 establishment unit since 2015
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.
François Stroobantstraat 61050 ElseneGround area
408 m²
Building footprint
191 m²
Volume, LiDAR
2,703 m³
Parcel 21447B0306/00E036, Brussels · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
EMALGA
since 20152.244.045.906
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0306/00E036 | Brussels | 408 m² | 1 · 191 m² | 19.5 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.244.045.906
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Of 24,725 companies in sector 64210 we hold annual accounts for 19,762. 8,218 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-06-2015
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.