Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The micro format states no turnover.
Latest accounts filed late: after the legal deadline.
Less equity than 94% of companies in specialised construction. Sector median €57,715 · 35,131 companies.
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 6% of them on solvency, 1% on liquidity, 27% on profitability and 77% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,180 companies had the same profile as EMB DEVELOPMENT has now. Each dot stands for 6 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of EMB DEVELOPMENT itself is higher: 7.5% within 12 months. It rests on far more data about EMB DEVELOPMENT than the profile alone.
The method was tested on the 497,447 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 2,180 companies, not a prediction for EMB DEVELOPMENT. 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.
Liquidity is insufficient, with a current ratio of 0.86 (0.82 in 2024), below 1. Short-term debt is 115.9% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 72 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| EMB DEVELOPMENT Uccle | €71,826 | €6,212 | -15.9% | - |
| SIDERK Uccle | €85,820 | €6,469 | 4.3% | - |
| INTERIEURINRICHTING JO KENENS Houthalen-Helchteren | €69,364 | €6,566 | 24.8% | - |
| Menuiserie Label Pose Charleroi | €76,289 | €6,753 | 49.3% | - |
| V.K.C.W. Algemene Timmerwerken Harelbeke | €65,666 | €6,922 | -60.3% | - |
| AJ WOOD Incourt | €75,171 | €5,332 | -58.9% | - |
| HOME MENUISERIE CONCEPT La Louvière | €68,107 | €4,976 | -104.4% | - |
These companies have the same main activity as EMB DEVELOPMENT: joinery installation (NACE 43320). They are comparable in size and age: total assets between €65,700 and €85,800, founded between 2020 and 2021.
EMB DEVELOPMENT files the micro format. That format states no turnover. The gross margin fell from €9,333 in 2021 to €6,212 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €63,000. Estimated: probably between €38,000 and €120,000.
Higher than 7% of 35,119 companies in 2025.
Higher than 16% of 34,493 companies in 2025.
Higher than 53% of 34,694 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2021 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
71,826 | 88,011 | 28,079 | 22,464 | |
20 |
- | - | - | 852 | |
21/28 |
368 | 1,219 | 4,729 | 9,199 | |
22/27 |
368 | 1,219 | 4,729 | 9,199 | |
24 |
368 | 1,219 | 4,729 | 9,199 | |
29/58 |
71,458 | 86,793 | 23,349 | 12,413 | |
3 |
3,000 | 13,000 | - | - | |
30/36 |
3,000 | 13,000 | - | - | |
40/41 |
68,458 | 73,793 | 23,349 | 10,747 | |
40 |
20,283 | 15,919 | 23,321 | 8,440 | |
41 |
48,175 | 57,874 | 28 | 2,307 | |
54/58 |
- | - | - | 1,666 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
71,826 | 88,011 | 28,079 | 22,464 | |
10/15 |
-11,388 | -17,295 | 76 | 14,460 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | |
13 |
9,460 | 9,460 | 9,460 | 9,460 | |
133 |
9,460 | 9,460 | 9,460 | 9,460 | |
14 |
-25,849 | -31,755 | -14,384 | - | |
17/49 |
83,214 | 105,306 | 28,003 | 8,003 | |
17 |
- | - | - | 2,454 | |
170/4 |
- | - | - | 2,454 | |
42/48 |
83,214 | 105,306 | 28,003 | 4,434 | |
42 |
- | - | 447 | 2,207 | |
43 |
8,173 | 4,499 | 3,283 | - | |
430/8 |
8,173 | 4,499 | 3,283 | - | |
44 |
75,042 | 90,403 | 15,210 | - | |
440/4 |
75,042 | 90,403 | 15,210 | - | |
45 |
- | 10,404 | 8,075 | 2,227 | |
450/3 |
- | 10,404 | 8,075 | 2,227 | |
47/48 |
- | - | 988 | - | |
492/3 |
- | - | - | 1,115 | |
| Income statement | |||||
9900 |
6,212 | -13,423 | -11,787 | 9,333 | |
630 |
851 | 3,820 | 3,523 | 2,627 | |
640/8 |
363 | 405 | - | 520 | |
9901 |
4,999 | -17,647 | -15,310 | 6,185 | |
75/76B |
2,604 | 1,519 | 1 | 1,083 | |
75 |
2,604 | 1,519 | 1 | 1,083 | |
65/66B |
1,697 | 1,006 | 745 | 971 | |
65 |
1,697 | 1,006 | 745 | 971 | |
9903 |
5,906 | -17,133 | -16,054 | 6,296 | |
67/77 |
- | 237 | 858 | 1,259 | |
9904 |
5,906 | -17,371 | -16,912 | 5,037 | |
9905 |
5,906 | -17,371 | -16,912 | 5,037 | |
| Appropriation of the result | |||||
9906 |
-25,849 | -31,755 | -14,384 | 5,037 | |
14P |
-31,755 | -14,384 | 2,528 | - | |
691/2 |
- | - | - | 5,037 | |
6921 |
- | - | - | 5,037 | |
| Document | |||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.
2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00549427.
| Line | Trend | 2025 | 2024 | 2023 | 2021 |
|---|---|---|---|---|---|
| 5,850 | -13,827 | -11,787 | 8,812 | ||
| 6,757 | -13,551 | -13,389 | 7,664 | ||
| 0 | 309 | 844 | - | ||
| -11,756 | -18,513 | -4,653 | 7,979 | ||
| -15.9% | -19.7% | 0.3% | 64.4% | ||
| 0.86 | 0.82 | 0.83 | 2.80 | ||
| 0.82 | 0.70 | 0.83 | 2.80 | ||
| - | - | - | 0.55 | ||
| - | - | - | 34.8% | ||
| 8.2% | -19.7% | -60.2% | 22.4% | ||
| 3.45 | -13.75 | -15.83 | 9.07 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | - | €309 | €844 | - |
| €851 | €3,820 | €3,523 | €2,627 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €4,999, after a loss of €17,647 in 2024. It is the highest result since 2021.
Equity is negative. Debt (€83,214) exceeds the balance-sheet total (€71,826).
EMB DEVELOPMENT has no parent and no holdings in its annual accounts. Emmanuel BOUHON is the only director. EMB DEVELOPMENT shares no director with another company.
| MALT COMMUNITY BELGIUM
registered office since 19-10-2021 · founded in 2021 |
11 FTE (2025) 0775.912.007 |
| JM Construction
registered office since 05-11-1973 · founded in 1973 |
total assets €4.4m (2025) 0413.662.141 |
| Decofi Benelux
registered office since 31-12-2012 · founded in 2012 |
turnover €92,827 (2025) 0508.802.711 |
| FOR BRIGHT IDEAS
registered office since 07-07-2003 · founded in 2003 |
total assets €2.8m (2025) 0859.580.445 |
| One Seven
registered office since 08-06-2023 · founded in 2023 |
total assets €2.2m (2025) 0802.550.680 |
| BYJULIET
registered office since 26-12-2014 · founded in 2014 |
total assets €2.0m (2025) 0507.761.643 |
| DELTA BXL
registered office since 20-07-1990 · founded in 1990 · negative equity (2025) |
total assets €1.6m (2025) 0440.780.173 |
| STELAS
registered office since 17-12-1993 · founded in 1993 |
13 FTE (2024) 0451.735.829 |
| OLOV PETERSSON
registered office since 24-08-2012 · founded in 2012 |
total assets €1.2m (2025) 0848.213.431 |
| J.M.D.
registered office since 30-10-1985 · founded in 1985 |
turnover €153,531 (2025) 0427.946.182 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
EMB DEVELOPMENT was incorporated on 30 September 2020 as a private limited company by two natural persons, with a starting capital of €5,000.12 The registered office moved to Beyne-Heusay in 2022 and to Uccle in 2026.34 Since 2020, Emmanuel BOUHON has served as director.5 Total assets rose from €22,464 in 2021 to €71,826 in 2025.6
| Establishment | Since | Unit number |
|---|---|---|
| Alsembergsesteenweg 897 registered office 1180 Uccle | ||
| Rue Delvaux 8 4340 Awans 4332001 Joinery installation | 30-09-2020 | 2.313.898.871 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62077A0736/00L000 | Wallonia | 1,184 m² | 1 · 65 m² | 9.1 m · 3 |
| 21616A0121/00Y002 | Brussels | 347 m² | 1 · 329 m² | 17.1 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0755.433.525
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