EMCA Distribution
ActiveSummary
The computed 12-month bankruptcy probability of EMCA Distribution is 2.1% (moderate). The 2024 annual accounts show negative equity (-€2.1m) and a net result of -€1.1m. Equity is shrinking by ~23% per year across the filed fiscal years. Its solvency ranks better than 5% of 6545 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.26 against 0.37 in 2023; short-term debt: 379.6% and cash: 30.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
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
-977.4%
Return on assets
-490.2%
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
192021222324
2019 to 2024 · latest year -€2.1m
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-05-2026, 295 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
295 d late
2023
29 d early
2022
34 d early
2021
39 d early
2020
17 d late
2019
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 45 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
EMCA Distribution was incorporated on 12 October 2016.1 The registered office was moved to Louvain-la-Neuve in 2026.2 Since 2026, Emmanuel Coria has served as director of the company.2 Total assets fell from EUR 1.4 million in 2019 to EUR 214,492 in 2024 and headcount from 15.3 to 5.4 full-time equivalents.3
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1.1m▼ 291%
2023 · -€269,012
Working capital
-€606,401▲ 40.8%
2023 · -€1.0m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€144,449▲ 7.6%-€99,668▲ 31.0%-€75,170▲ 24.6%-€255,966▼ 241%-€705,617▼ 176%
Net result-€168,557below the sector's middle half▲ 5.9%-€125,586below the sector's middle half▲ 25.5%-€83,342below the sector's middle half▲ 33.6%-€269,012below the sector's middle half▼ 223%-€1.1mbelow the sector's middle half▼ 291%
Equity-€566,893below the sector's middle half▼ 42.3%-€692,480below the sector's middle half▼ 22.2%-€775,822below the sector's middle half▼ 12.0%-€1.0mbelow the sector's middle half▼ 34.7%-€2.1mbelow the sector's middle half▼ 101%
Total assets€1.3mwithin the sector's middle half▼ 7.8%€1.1mwithin the sector's middle half▼ 19.6%€923,788within the sector's middle half▼ 13.6%€966,820within the sector's middle half▲ 4.7%€214,492below the sector's middle half▼ 77.8%
Debt€1.9m▲ 3.0%€1.8m▼ 7.1%€1.7m▼ 3.5%€2.0m▲ 18.4%€2.3m▲ 14.9%
Working capital-€507,408below the sector's middle half▼ 48.7%-€652,567below the sector's middle half▼ 28.6%-€744,008below the sector's middle half▼ 14.0%-€1.0mbelow the sector's middle half▼ 37.8%-€606,401below the sector's middle half▲ 40.8%
Solvency-42.6%below the sector's middle half▼ 15.0pp-64.7%below the sector's middle half▼ 22.1pp-84.0%below the sector's middle half▼ 19.2pp-108.1%below the sector's middle half▼ 24.1pp-977.4%below the sector's middle half▼ 869.3pp
Current ratio0.50below the sector's middle half▼ 0.090.41below the sector's middle half▼ 0.090.37below the sector's middle half▼ 0.040.37below the sector's middle half=0.26below the sector's middle half▼ 0.12
Return on assets (ROA)-12.7%below the sector's middle half▼ 0.3pp-11.7%below the sector's middle half▲ 0.9pp-9.0%below the sector's middle half▲ 2.7pp-27.8%below the sector's middle half▼ 18.8pp-490.2%below the sector's middle half▼ 462.4pp
Staff (FTE)11.7within the sector's middle half▼ 23.5%10.1within the sector's middle half▼ 13.7%9.2within the sector's middle half▼ 8.9%9.6within the sector's middle half▲ 4.3%5.4within the sector's middle half▼ 43.8%
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.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €705,617 in 2024 against €255,966 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €214,492
Fixed assets
€6,764 ▼ 98.1%
Current assets
€207,727 ▼ 65.8%
Equity and liabilities
Equity-€2.1m
Debt€2.3m
Equity is negative: debt (€2.3m) exceeds the balance-sheet total (€214,492).
Key figures and ratios
Debt ≤ 1 year
€814,128▼
2023 · €1.6m
Debt > 1 year
€1.5m▲
2023 · €378,563
Staff costs
€288,787▼
2023 · €296,376
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,010 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,768 | - | €10,489 | - | - |
| Remuneration, social security and pensions62 | - | €459,183 | €325,571 | €296,376 | €288,787 | ▼ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €146,763 | €216,725 | €128,563 | €129,923 | - | - |
| Other operating charges640/8 | - | €46,239 | €19,782 | €35,642 | €30,120 | ▼ 15.5% |
| Non-recurring operating charges66A | - | €4,872 | - | €14,067 | €38,804 | ▲ 176% |
| Gross operating margin9900 | €408,176 | €627,350 | €398,746 | €220,042 | -€347,905 | ▼ 258% |
| Operating profit (loss)9901 | -€144,449 | -€99,668 | -€75,170 | -€255,966 | -€705,617 | ▼ 176% |
| Financial income75/76B | - | - | €273 | - | €150 | - |
| Recurring financial income75 | €146 | - | €273 | - | €150 | - |
| Financial charges65/66B | - | €25,918 | €8,444 | €13,046 | €346,056 | ▲ 2,553% |
| Recurring financial charges65 | €24,013 | €25,918 | €8,444 | €13,046 | €14,191 | ▲ 8.8% |
| Non-recurring financial charges66B | - | - | - | - | €331,864 | - |
| Profit (loss) for the period before taxes9903 | -€168,316 | -€125,586 | -€83,342 | -€269,012 | -€1.1m | ▼ 291% |
| Income taxes67/77 | €241 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€168,557 | -€125,586 | -€83,342 | -€269,012 | -€1.1m | ▼ 291% |
| Profit (loss) for the period to be appropriated9905 | -€168,557 | -€125,586 | -€83,342 | -€269,012 | -€1.1m | ▼ 291% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.1m | €923,788 | €966,820 | €214,492 | ▼ 77.8% |
| Formation expenses20 | €11,970 | - | - | - | - | - |
| Fixed assets21/28 | €808,418 | €612,306 | €484,303 | €359,274 | €6,764 | ▼ 98.1% |
| Tangible fixed assets22/27 | €808,055 | €603,301 | €474,738 | €344,814 | - | - |
| Plant, machinery and equipment23 | - | €14,622 | €12,712 | €9,955 | - | - |
| Furniture and vehicles24 | - | €5,530 | €3,564 | €1,085 | - | - |
| Other tangible fixed assets26 | - | €583,149 | €458,461 | €333,774 | - | - |
| Financial fixed assets28 | €363 | €9,005 | €9,565 | €14,460 | €6,764 | ▼ 53.2% |
| Current assets29/58 | €509,614 | €457,188 | €439,485 | €607,546 | €207,727 | ▼ 65.8% |
| Stocks and contracts in progress3 | €345,822 | €339,606 | €296,501 | €415,992 | - | - |
| Stocks30/36 | - | €339,606 | €296,501 | €415,992 | - | - |
| Amounts receivable within one year40/41 | €44,357 | €30,718 | €71,732 | €117,984 | €141,875 | ▲ 20.2% |
| Trade receivables40 | - | €2,622 | €22,984 | €66,362 | €14,805 | ▼ 77.7% |
| Other amounts receivable41 | - | €28,096 | €48,748 | €51,622 | €127,071 | ▲ 146% |
| Cash at bank and in hand54/58 | €105,523 | €84,973 | €43,406 | €72,661 | €65,852 | ▼ 9.4% |
| Deferred charges and accrued income490/1 | - | €1,891 | €27,847 | €908 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.1m | €923,788 | €966,820 | €214,492 | ▼ 77.8% |
| Equity10/15 | -€566,893 | -€692,480 | -€775,822 | -€1.0m | -€2.1m | ▼ 101% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Capital10 | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Issued capital100 | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Profit (loss) carried forward14 | -€716,893 | -€842,480 | -€925,822 | -€1.2m | -€2.2m | ▼ 88.0% |
| Amounts payable17/49 | €1.9m | €1.8m | €1.7m | €2.0m | €2.3m | ▲ 14.9% |
| Amounts payable after more than one year17 | €853,650 | €652,219 | €516,116 | €378,563 | €1.5m | ▲ 295% |
| Financial debts170/4 | - | €652,219 | €516,116 | €378,563 | €239,517 | ▼ 36.7% |
| Other amounts payable178/9 | - | - | - | - | €1.3m | - |
| Amounts payable within one year42/48 | €1.0m | €1.1m | €1.2m | €1.6m | €814,128 | ▼ 50.1% |
| Current portion of amounts payable after more than one year42 | - | €134,655 | €136,103 | €137,552 | €139,046 | ▲ 1.1% |
| Trade debts44 | €851,202 | €913,374 | €988,885 | €1.4m | €655,120 | ▼ 54.4% |
| Suppliers440/4 | - | €913,374 | €988,885 | €1.4m | €655,120 | ▼ 54.4% |
| Taxes, remuneration and social security45 | - | €53,156 | €53,598 | €44,650 | - | - |
| Taxes450/3 | - | €17,589 | €17,300 | €6,882 | - | - |
| Remuneration and social security454/9 | - | €35,566 | €36,298 | €37,768 | - | - |
| Other amounts payable47/48 | - | €8,571 | €4,908 | €12,961 | €19,961 | ▲ 54.0% |
| Accrued charges and deferred income492/3 | - | - | - | €505 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€168,557 | -€125,586 | -€83,342 | -€269,012 | -€1.1m | ▼ 291% |
| + Depreciation and write-downs630 | €146,763 | €216,725 | €128,563 | €129,923 | - | - |
| Operating cash flow (approximation) | -€21,794 | €91,138 | €45,221 | -€139,089 | -€1.1m | ▼ 656% |
| Investment in fixed assets (approximation) | - | -€20,612 | -€560 | -€4,895 | €352,509 | ▲ 7,302% |
| Change in cash | - | -€20,551 | -€41,567 | €29,255 | -€6,809 | ▼ 123% |
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
2026
29-06
State Gazette act
Resignations: Martin Staelens (director) and Cédric Degavre (director)Appointment: Emmanuel Coria (director) · Director discharge · Registered-office move8 facts ▸
State Gazette act
Resignations: Martin Staelens (director) and Cédric Degavre (director)
Appointment: Emmanuel Coria (director) · Director discharge · Registered-office move8 facts ▸
- Other statement, Moniteur reference number, 26083016
- General meeting, 13-03-2026
- Director resignation, Martin Staelens (director)
- Director resignation, Cédric Degavre (director)
- Director discharge, Martin Staelens
- Director discharge, Cédric Degavre
- Director appointment, Emmanuel Coria (director)
- Registered-office move, Rue du Bosquet 4, 1348 Louvain-la-Neuve
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 295 days late
2024
31-12
Financial
Weakest financial yearnet -€1.1m
Net result drops to -€1.1m, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 17 days late
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Emmanuel Coria
CurrentDirector · since 13-03-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Ottignies-Louvain-la-Neuve · 1 establishment unit since 2016
Ground area
4,586 m²
Building footprint
1,697 m²
Volume, LiDAR
12,042 m³
Parcel 25384B0048/00V000, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
19
companies at this address
See who is registered here
1 establishment unit
Intermarché By Mestdagh
since 20162.257.406.863
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25384B0048/00V000 | Wallonia | 4,586 m² | 1 · 1,697 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Emmanuel Coria |
|
| Cédric Degavre |
|
| Martin Staelens |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Company details
Identification
Legal formPrivate limited company
Founded12-10-2016
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
Contact
E-mail
bureau.amercoeur@mestdagh.beOttignies-Louvain-la-Neuve
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664578375
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.