EMBER
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 38 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €156,832, after a profit of €33,317 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Staff
| Item | 29-12-2021 | 29-12-2022 | 29-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | - |
| full-time | 1 | 1 | - |
| part-time | 3 | 3 | - |
| in full-time equivalents | 1.9 | 1.9 | - |
| Average over the year, in full-time equivalents | 3.3 | 1.9 | 0.7 |
| On a permanent contract | 4 | 4 | - |
| Joined | - | - | 0 |
| Left | - | - | 4 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Securities and guarantees
| Item | 29-12-2021 | 29-12-2022 | 29-12-2023 | 29-12-2024 | 29-12-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m |
| Mortgages, amount registered | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m |
| Carrying value of the mortgaged assets | €3.1m | €2.9m | €2.6m | €2.0m | €2.3m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 29-12-2021 | 29-12-2022 | 29-12-2023 | 29-12-2024 | 29-12-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,478 | €6,310 | €43,452 | €39,116 | €1,325 |
| Depreciation and write-downs of the year | €185,813 | €172,640 | €181,709 | €183,388 | €184,684 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €18,124 | €50,874 | €24,848 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €67,561 | €165,668 | €185,115 | €185,813 | €172,640 | €181,709 | €183,388 | €184,684 | ▲ 0.7% |
| Other operating charges640/8 | - | - | - | €5,321 | €26,395 | €15,308 | €39,218 | €25,815 | ▼ 34.2% |
| Gross operating margin9900 | €130,769 | €131,925 | €129,620 | €80,420 | €264,568 | €145,312 | €255,923 | €53,667 | ▼ 79.0% |
| Operating profit (loss)9901 | €42,738 | -€54,143 | -€102,173 | -€128,838 | €14,659 | -€76,553 | €33,317 | -€156,832 | - |
| Financial income75/76B | - | - | - | €23,283 | €25,360 | - | €44 | €69,511 | ▲ 1,580× |
| Recurring financial income75 | €14,726 | €21,819 | €22,660 | €23,283 | €25,360 | - | €44 | €69,511 | ▲ 1,580× |
| Financial charges65/66B | - | - | - | €34,428 | €33,524 | €71,252 | €116,403 | €49,640 | ▼ 57.4% |
| Recurring financial charges65 | €24,141 | €19,279 | €25,272 | €34,428 | €33,524 | €71,252 | €116,403 | €49,640 | ▼ 57.4% |
| Profit (loss) for the period before taxes9903 | €33,323 | -€51,603 | -€104,785 | -€139,983 | €6,495 | -€147,805 | -€83,042 | -€136,961 | ▼ 64.9% |
| Profit (loss) for the period9904 | €33,323 | -€51,603 | -€104,785 | -€139,983 | €6,495 | -€147,805 | -€83,042 | -€136,961 | ▼ 64.9% |
| Profit (loss) for the period to be appropriated9905 | €33,323 | -€51,603 | -€104,785 | -€139,983 | €6,495 | -€147,805 | -€83,042 | -€136,961 | ▼ 64.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.0m | €3.9m | €4.5m | €4.4m | €4.3m | €4.0m | €3.9m | €3.7m | ▼ 5.2% |
| Fixed assets21/28 | €3.4m | €3.3m | €3.9m | €3.7m | €3.4m | €3.3m | €3.1m | €2.9m | ▼ 5.9% |
| Tangible fixed assets22/27 | €3.4m | €3.3m | €3.9m | €3.7m | €3.4m | €3.3m | €3.1m | €2.9m | ▼ 5.9% |
| Land and buildings22 | - | - | - | €3.7m | €3.4m | €3.2m | €3.1m | €2.9m | ▼ 5.8% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.002m | €0.001m | €0.001m | - | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.02m | €0.04m | €0.04m | €0.03m | ▼ 14.3% |
| Financial fixed assets28 | - | - | €483 | €483 | €483 | €483 | €483 | €483 | = |
| Current assets29/58 | €0.5m | €0.6m | €0.7m | €0.7m | €0.9m | €0.8m | €0.8m | €0.8m | ▼ 2.4% |
| Amounts receivable within one year40/41 | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 4.1% |
| Trade receivables40 | - | - | - | €0.07m | €0.002m | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.6m | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 4.1% |
| Cash at bank and in hand54/58 | €0.007m | €0.004m | €0.01m | €0.003m | €0.09m | €0.01m | €0.001m | €149 | ▼ 86.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.2m | €0.05m | €0.06m | €0.01m | ▼ 79.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.0m | €3.9m | €4.5m | €4.4m | €4.3m | €4.0m | €3.9m | €3.7m | ▼ 5.2% |
| Equity10/15 | €1.2m | €1.2m | €1.1m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 19.2% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Revaluation surpluses12 | - | - | - | €2.3m | €2.2m | €2.1m | €1.9m | €1.8m | ▼ 7.1% |
| Reserves13 | - | - | €0.3m | €0.4m | €0.6m | €0.7m | €0.8m | €1.0m | ▲ 16.7% |
| Non-distributable reserves130/1 | - | - | - | €0.4m | €0.6m | €0.7m | €0.8m | €1.0m | ▲ 16.7% |
| Other1319 | - | - | - | €0.4m | €0.6m | €0.7m | €0.8m | €1.0m | ▲ 16.7% |
| Profit (loss) carried forward14 | -€1.7m | -€1.7m | -€1.8m | -€2.0m | -€2.0m | -€2.1m | -€2.2m | -€2.3m | ▼ 6.2% |
| Amounts payable17/49 | €2.7m | €2.7m | €3.5m | €3.4m | €3.4m | €3.3m | €3.2m | €3.2m | ▼ 2.1% |
| Amounts payable after more than one year17 | €1.4m | €1.4m | €2.1m | €2.1m | €2.0m | €2.0m | €2.8m | €2.8m | ▼ 2.1% |
| Financial debts170/4 | - | - | - | €0.9m | €0.9m | €0.8m | €1.6m | €1.6m | ▼ 3.7% |
| Other amounts payable178/9 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Amounts payable within one year42/48 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €0.3m | €0.3m | ▲ 0.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.1m | €0.06m | ▼ 44.8% |
| Financial debts43 | - | - | - | €1.0m | €1.0m | €1.0m | - | €0.001m | - |
| Credit institutions430/8 | - | - | - | €1.0m | €1.0m | €1.0m | - | €0.001m | - |
| Trade debts44 | €0.01m | €0.02m | €0.02m | €0.01m | - | - | - | - | - |
| Suppliers440/4 | - | - | - | €0.01m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.02m | €0.01m | - | - | - |
| Taxes450/3 | - | - | - | €0.002m | €0.002m | €0.007m | - | - | - |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.02m | €0.004m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 21.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.02m | €0.03m | €0.05m | €0.04m | ▼ 18.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,323 | -€51,603 | -€104,785 | -€139,983 | €6,495 | -€147,805 | -€83,042 | -€136,961 | ▼ 64.9% |
| + Depreciation and write-downs630 | €67,561 | €165,668 | €185,115 | €185,813 | €172,640 | €181,709 | €183,388 | €184,684 | ▲ 0.7% |
| Operating cash flow (approximation) | €100,884 | €114,065 | €80,330 | €45,830 | €179,135 | €33,904 | €100,346 | €47,723 | ▼ 52.4% |
| Investment in fixed assets (approximation) | - | -€8,120 | -€768,387 | -€8,478 | €121,690 | -€43,452 | -€39,116 | -€1,325 | ▲ 96.6% |
| Change in cash | - | -€2,981 | €6,478 | -€7,275 | €82,196 | -€72,188 | -€11,879 | -€958 | ▲ 91.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,507 companies had the same profile as EMBER has now. Two years later, 1.6% had gone bankrupt and 96.4% were still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EMBER itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,507 companies, not a prediction for EMBER. 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.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 29-12-2025 | abbreviated format | 22-07-2026 | 2026-00334670 | |
| 29-12-2024 | full format | 11-07-2025 | 2025-00277117 | |
| 29-12-2023 | full format | 05-07-2024 | 2024-00232090 | |
| 29-12-2022 | full format | 19-07-2023 | 2023-00267900 | |
| 29-12-2021 | full format | 12-07-2022 | 2022-20189743 | |
| 29-12-2020 | full format | 29-09-2021 | 2021-69400250 | |
| 29-12-2019 | full format | 15-05-2020 | 2020-12200304 | |
| 29-12-2018 | full format | 26-07-2019 | 2019-38600508 | |
| 29-12-2017 | full format | 19-09-2018 | 2018-63800463 | |
| 29-12-2016 | full format | 30-06-2017 | 2017-25100157 |