EMAQUE
ActiveSummary
The computed 12-month bankruptcy probability of EMAQUE is 4.1% (elevated). The 2024 annual accounts show negative equity (-€130,587) and a net result of -€55,052. Equity is shrinking by ~42.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 9619 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-82
Solvency0=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
4.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.64 against 0.67 in 2023; short-term debt: 142.7% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-42.7%
Return on assets
-18%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year -€130,587
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-06-2025, 49 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
49 d early
2023
44 d early
2022
38 d early
2021
40 d early
2020
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 43 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
Equity
-€130,587▼ 72.9%
2023 · -€75,535
Total assets
€306,140▲ 13.6%
2023 · €269,531
Net result
-€55,052
2023 · €27,619
Working capital
-€158,331▼ 37.1%
2023 · -€115,451
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€1,857--€80,971▼ 4,261%-€33,409▲ 58.7%€29,286-€59,396
Net result-€2,423below the sector's middle half--€81,219below the sector's middle half▼ 3,252%-€34,512below the sector's middle half▲ 57.5%€27,619within the sector's middle half-€55,052below the sector's middle half
Equity€12,577below the sector's middle half--€68,642below the sector's middle half-€103,154below the sector's middle half▼ 50.3%-€75,535below the sector's middle half▲ 26.8%-€130,587below the sector's middle half▼ 72.9%
Total assets€104,238below the sector's middle half-€64,293below the sector's middle half▼ 38.3%€76,032below the sector's middle half▲ 18.3%€269,531below the sector's middle half▲ 254%€306,140below the sector's middle half▲ 13.6%
Debt€91,661-€132,935▲ 45.0%€179,186▲ 34.8%€345,066▲ 92.6%€436,727▲ 26.6%
Working capital-€16,896--€96,000▼ 468%-€124,956▼ 30.2%-€115,451▲ 7.6%-€158,331▼ 37.1%
Solvency12.1%below the sector's middle half--106.8%below the sector's middle half▼ 118.8pp-135.7%below the sector's middle half▼ 28.9pp-28.0%below the sector's middle half▲ 107.6pp-42.7%below the sector's middle half▼ 14.6pp
Staff (FTE)0.4below the sector's middle half-2.4within the sector's middle half▲ 500%2.6within the sector's middle half▲ 8.3%3.8within the sector's middle half▲ 46.2%9.6above the sector's middle half▲ 153%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €59,396 after €29,286 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €306,140
Fixed assets
€27,744 ▼ 30.5%
Current assets
€278,396 ▲ 21.2%
Key figures and ratios
EBITDA
-€50,973▼
2023 · €35,631
Cash flow
-€46,629▼
2023 · €33,964
Current ratio
0.64▼
2023 · 0.67
Quick ratio
0.56▼
2023 · 0.61
Debt to equity
-3.34▲
2023 · -4.57
ROA
-18.0%▼
2023 · 10.2%
Interest coverage
-186.10▼
2023 · 21.80
Debt ≤ 1 year
€436,727▲
2023 · €345,066
Income taxes
€146▲
2023 · €33
Staff costs
€372,028▲
2023 · €169,700
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,038 companies that looked in July 2024 the way this one looks now, 7.3% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.3%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,038 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €98,020 | €106,178 | €169,700 | €372,028 | ▲ 119% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,213 | €5,464 | €5,556 | €6,345 | €8,423 | ▲ 32.8% |
| Other operating charges640/8 | - | - | €122 | €132 | €336 | ▲ 155% |
| Gross operating margin9900 | €12,952 | €22,513 | €78,447 | €205,463 | €321,390 | ▲ 56.4% |
| Operating profit (loss)9901 | -€1,857 | -€80,971 | -€33,409 | €29,286 | -€59,396 | ▼ 303% |
| Financial income75/76B | - | €76 | - | - | €4,764 | - |
| Recurring financial income75 | - | €76 | - | - | €4,764 | - |
| Financial charges65/66B | - | €324 | €1,104 | €1,634 | €274 | ▼ 83.2% |
| Recurring financial charges65 | €566 | €324 | €1,104 | €1,634 | €274 | ▼ 83.2% |
| Profit (loss) for the period before taxes9903 | -€2,423 | -€81,219 | -€34,512 | €27,652 | -€54,906 | ▼ 299% |
| Income taxes67/77 | - | - | - | €33 | €146 | ▲ 349% |
| Profit (loss) for the period9904 | -€2,423 | -€81,219 | -€34,512 | €27,619 | -€55,052 | ▼ 299% |
| Profit (loss) for the period to be appropriated9905 | -€2,423 | -€81,219 | -€34,512 | €27,619 | -€55,052 | ▼ 299% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €104,238 | €64,293 | €76,032 | €269,531 | €306,140 | ▲ 13.6% |
| Fixed assets21/28 | €29,473 | €27,358 | €21,802 | €39,916 | €27,744 | ▼ 30.5% |
| Tangible fixed assets22/27 | €29,473 | €27,358 | €21,802 | €39,916 | €27,744 | ▼ 30.5% |
| Plant, machinery and equipment23 | - | €26,056 | €20,757 | €36,147 | €11,865 | ▼ 67.2% |
| Other tangible fixed assets26 | - | €1,302 | €1,045 | €3,769 | €15,879 | ▲ 321% |
| Current assets29/58 | €74,765 | €36,935 | €54,230 | €229,615 | €278,396 | ▲ 21.2% |
| Stocks and contracts in progress3 | €4,653 | €5,788 | €7,075 | €19,430 | €34,817 | ▲ 79.2% |
| Stocks30/36 | - | €5,788 | €7,075 | €19,430 | €34,817 | ▲ 79.2% |
| Amounts receivable within one year40/41 | €56,558 | €19,213 | €33,869 | €132,552 | €243,580 | ▲ 83.8% |
| Trade receivables40 | - | €19,213 | €33,869 | €132,535 | €160,790 | ▲ 21.3% |
| Other amounts receivable41 | - | - | - | €17 | €82,790 | ▲ 475,979% |
| Cash at bank and in hand54/58 | €12,628 | €11,934 | €13,285 | €77,632 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €104,238 | €64,293 | €76,032 | €269,531 | €306,140 | ▲ 13.6% |
| Equity10/15 | €12,577 | -€68,642 | -€103,154 | -€75,535 | -€130,587 | ▼ 72.9% |
| Contributions10/11 | - | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Profit (loss) carried forward14 | -€2,423 | -€83,642 | -€118,154 | -€90,535 | -€145,587 | ▼ 60.8% |
| Amounts payable17/49 | €91,661 | €132,935 | €179,186 | €345,066 | €436,727 | ▲ 26.6% |
| Amounts payable within one year42/48 | €91,661 | €132,935 | €179,186 | €345,066 | €436,727 | ▲ 26.6% |
| Trade debts44 | €70,527 | €108,753 | €74,535 | €257,343 | €337,295 | ▲ 31.1% |
| Suppliers440/4 | - | €108,753 | €74,535 | €257,343 | €337,295 | ▲ 31.1% |
| Taxes, remuneration and social security45 | - | €19,895 | €26,907 | €87,660 | €99,432 | ▲ 13.4% |
| Taxes450/3 | - | €5,463 | €8,567 | €43,958 | €30,957 | ▼ 29.6% |
| Remuneration and social security454/9 | - | €14,433 | €18,340 | €43,702 | €68,474 | ▲ 56.7% |
| Other amounts payable47/48 | - | €4,287 | €77,743 | €63 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,423 | -€81,219 | -€34,512 | €27,619 | -€55,052 | ▼ 299% |
| + Depreciation and write-downs630 | €4,213 | €5,464 | €5,556 | €6,345 | €8,423 | ▲ 32.8% |
| Operating cash flow (approximation) | €1,790 | -€75,755 | -€28,956 | €33,964 | -€46,629 | ▼ 237% |
| Investment in fixed assets (approximation) | - | -€3,349 | €0 | -€24,459 | €3,749 | ▲ 115% |
| Change in cash | - | -€694 | €1,351 | €64,347 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €27,619
Net result €27,619 after 3 loss-making years.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€81,219
Net result drops to -€81,219, the lowest in the series; recovery starts the following year.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Aalter · 2 establishment units since 2020
Ground area
1.7 ha
Building footprint
1.1 ha
Volume, LiDAR
74,308 m³
3 parcels, Flanders · tallest building 20.5 m, ±3 floors. Linked by address, not a title deed.
116
companies at this address
See who is registered here
2 establishment units
Buurtslagers
since 20202.298.452.117
Buurtslagers
since 20232.347.561.633
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44503H0052/00C000 | Flanders | 1.4 ha | 1 · 9,001 m² | 11.4 m · 3 fl. |
| 44008C0066/00L000 | Flanders | 3,275 m² | 1 · 2,028 m² | 20.4 m · 1 fl. |
| 44432C1172/00B002 | Flanders | 222 m² | 1 · 229 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 2 entries · 2,820 EUR awarded · 2,820 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,820 EUR | 2,820 EUR |
Recognitions · licences · registrations
Food safety, FASFC
2 sites · 2 with a smileyGent2.298.452.117
Lochristi2.347.561.633
Similar companies · same sector, comparable size
FUMET INSOLITE
BE 0799.305.932
Sprimont · Eq €12,535
EURO BYM
BE 0678.489.759
Sint-Gillis (bij-Brussel) · Eq €11,215
LE PALAIS MALIBRAN
BE 1008.394.875
Elsene · Eq €10,923
KHALI
BE 1008.516.027
Koekelberg · Eq €15,252
LE COQ ELARABI
BE 0897.219.910
Brussel · Eq €15,294
Of 269 companies in sector 47222 we hold annual accounts for 134. 84 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
Founded13-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47222Retail trade
47120Other non-specialised retail sale
47221Retail sale of meat and meat products, excluding game and poultry
E-invoicing
Reachable via Peppol
Peppol ID
0208:0741455429
Also
9925:BE0741455429
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.