EMEX
ActiveSummary
EMEX has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €438,007 and a net result of -€3,218. Equity is growing by ~7.9% per year across the filed fiscal years. Its solvency ranks better than 49% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability59▼-1
Solvency61=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.23 against 2.3 in 2024; short-term debt: 14.4% and cash: 1.9% of total assets), but 63.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
24 d late
2023
7 d early
2022
on the day
2021
19 d early
2020
23 d early
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 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 (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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€438,007▼ 0.7%
2024 · €441,226
Total assets
€1.2m▼ 2.2%
2024 · €1.2m
Net result
-€3,218▼ 8,549%
2024 · -€37
Working capital
€213,666▲ 0.9%
2024 · €211,807
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
Line20212022202320242025
Operating result€237,833▲ 841%-€9,227€461€6,076▲ 1,219%€2,253▼ 62.9%
Net result€168,827above the sector's middle half▲ 830%-€13,969below the sector's middle half-€5,107below the sector's middle half▲ 63.4%-€37within the sector's middle half▲ 99.3%-€3,218below the sector's middle half▼ 8,549%
Equity€460,339above the sector's middle half▲ 57.9%€446,370above the sector's middle half▼ 3.0%€441,263above the sector's middle half▼ 1.1%€441,226above the sector's middle half=€438,007within the sector's middle half▼ 0.7%
Total assets€1.3mabove the sector's middle half▲ 217%€1.3mabove the sector's middle half▼ 3.8%€1.2mabove the sector's middle half▼ 4.0%€1.2mabove the sector's middle half▲ 0.7%€1.2mwithin the sector's middle half▼ 2.2%
Debt€803,433▲ 538%€769,990▼ 4.2%€727,142▼ 5.6%€738,280▲ 1.5%€716,973▼ 2.9%
Working capital€279,703above the sector's middle half▲ 268%€212,110above the sector's middle half▼ 24.2%€206,029above the sector's middle half▼ 2.9%€211,807above the sector's middle half▲ 2.8%€213,666within the sector's middle half▲ 0.9%
Solvency34.7%within the sector's middle half▼ 35.1pp35.0%within the sector's middle half▲ 0.3pp36.1%within the sector's middle half▲ 1.0pp35.8%within the sector's middle half▼ 0.2pp36.4%within the sector's middle half▲ 0.6pp
Current ratio3.19above the sector's middle half▲ 1.582.68within the sector's middle half▼ 0.512.70above the sector's middle half▲ 0.022.30within the sector's middle half▼ 0.402.23within the sector's middle half▼ 0.07
Return on assets (ROA)12.7%within the sector's middle half▲ 8.4pp-1.1%within the sector's middle half▼ 13.8pp-0.4%within the sector's middle half▲ 0.7pp0.0%within the sector's middle half▲ 0.4pp-0.3%below the sector's middle half▼ 0.3pp
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 or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 63% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€816,565 ▼ 4.6%
Current assets
€387,003 ▲ 3.2%
Equity and liabilities €1.2m
Equity
€438,007 ▼ 0.7%
Provisions
€48,588 ▼ 6.1%
Debt
€716,973 ▼ 2.9%
Debt's share of the balance-sheet total falls from 60.0% to 59.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€41,991▼
2024 · €45,814
Cash flow
€36,520▼
2024 · €39,701
Debt to equity
1.64▼
2024 · 1.67
ROE
-0.7%▼
2024 · 0.0%
Interest coverage
4.88▼
2024 · 4.96
Debt ≤ 1 year
€173,336▲
2024 · €163,113
Debt > 1 year
€533,483▼
2024 · €568,469
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 8,616 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €250,421 | €26,860 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,350 | €38,108 | €39,834 | €39,738 | €39,738 | = |
| Other operating charges640/8 | €11,417 | €14,859 | €16,855 | €17,512 | €18,019 | ▲ 2.9% |
| Gross operating margin9900 | €277,601 | €43,740 | €57,149 | €63,326 | €60,010 | ▼ 5.2% |
| Operating profit (loss)9901 | €237,833 | -€9,227 | €461 | €6,076 | €2,253 | ▼ 62.9% |
| Financial income75/76B | €0 | €0 | €0 | - | - | - |
| Recurring financial income75 | €0 | €0 | €0 | - | - | - |
| Financial charges65/66B | €7,898 | €7,872 | €8,698 | €9,244 | €8,601 | ▼ 6.9% |
| Recurring financial charges65 | €7,898 | €7,872 | €8,698 | €9,244 | €8,601 | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | €229,936 | -€17,099 | -€8,237 | -€3,167 | -€6,348 | ▼ 100% |
| Transfer from deferred taxes780 | €1,497 | €3,130 | €3,130 | €3,130 | €3,130 | = |
| Transfer to deferred taxes680 | €62,605 | €0 | - | - | - | - |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €168,827 | -€13,969 | -€5,107 | -€37 | -€3,218 | ▼ 8,549% |
| Transfer from tax-exempt reserves789 | €4,490 | €9,391 | €9,391 | €9,391 | €9,391 | = |
| Transfer to tax-exempt reserves689 | €187,816 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€14,499 | -€4,578 | €4,284 | €9,354 | €6,173 | ▼ 34.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.2m | €1.2m | €1.2m | ▼ 2.2% |
| Fixed assets21/28 | €917,550 | €935,875 | €896,041 | €856,303 | €816,565 | ▼ 4.6% |
| Tangible fixed assets22/27 | €917,426 | €935,751 | €895,917 | €856,179 | €816,441 | ▼ 4.6% |
| Land and buildings22 | €916,403 | €934,835 | €895,109 | €855,478 | €815,848 | ▼ 4.6% |
| Plant, machinery and equipment23 | €1,023 | €916 | €808 | €701 | €594 | ▼ 15.3% |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | = |
| Current assets29/58 | €407,331 | €338,463 | €327,212 | €374,920 | €387,003 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €221,179 | €282,540 | €281,610 | €332,293 | €361,619 | ▲ 8.8% |
| Trade receivables40 | €219,694 | €282,540 | €281,610 | €332,293 | €359,165 | ▲ 8.1% |
| Other amounts receivable41 | €1,485 | €0 | - | - | €2,454 | - |
| Cash at bank and in hand54/58 | €184,964 | €54,583 | €44,180 | €41,162 | €23,174 | ▼ 43.7% |
| Deferred charges and accrued income490/1 | €1,187 | €1,340 | €1,422 | €1,466 | €2,209 | ▲ 50.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.2m | €1.2m | €1.2m | ▼ 2.2% |
| Equity10/15 | €460,339 | €446,370 | €441,263 | €441,226 | €438,007 | ▼ 0.7% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €398,839 | €384,870 | €379,763 | €379,726 | €376,507 | ▼ 0.8% |
| Non-distributable reserves130/1 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Legal reserve130 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Tax-exempt reserves132 | €183,996 | €174,605 | €165,214 | €155,823 | €146,432 | ▼ 6.0% |
| Distributable reserves133 | €207,407 | €202,828 | €207,112 | €216,466 | €222,638 | ▲ 2.9% |
| Provisions and deferred taxes16 | €61,109 | €57,979 | €54,848 | €51,718 | €48,588 | ▼ 6.1% |
| Deferred taxes168 | €61,109 | €57,979 | €54,848 | €51,718 | €48,588 | ▼ 6.1% |
| Amounts payable17/49 | €803,433 | €769,990 | €727,142 | €738,280 | €716,973 | ▼ 2.9% |
| Amounts payable after more than one year17 | €671,749 | €637,593 | €603,177 | €568,469 | €533,483 | ▼ 6.2% |
| Financial debts170/4 | €671,749 | €637,593 | €603,177 | €568,469 | €533,483 | ▼ 6.2% |
| Amounts payable within one year42/48 | €127,628 | €126,354 | €121,183 | €163,113 | €173,336 | ▲ 6.3% |
| Current portion of amounts payable after more than one year42 | €33,884 | €34,156 | €34,417 | €34,707 | €34,986 | ▲ 0.8% |
| Trade debts44 | €44,062 | €35,812 | €35,930 | €78,684 | €86,061 | ▲ 9.4% |
| Suppliers440/4 | €44,062 | €35,812 | €35,930 | €78,684 | €86,061 | ▲ 9.4% |
| Taxes, remuneration and social security45 | €2,596 | €10,027 | €4,477 | €3,363 | €3,477 | ▲ 3.4% |
| Taxes450/3 | €2,596 | €10,027 | €4,477 | €3,363 | €3,477 | ▲ 3.4% |
| Other amounts payable47/48 | €47,086 | €46,359 | €46,359 | €46,359 | €48,813 | ▲ 5.3% |
| Accrued charges and deferred income492/3 | €4,056 | €6,043 | €2,782 | €6,697 | €10,153 | ▲ 51.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €168,827 | -€13,969 | -€5,107 | -€37 | -€3,218 | ▼ 8,549% |
| + Depreciation and write-downs630 | €28,350 | €38,108 | €39,834 | €39,738 | €39,738 | = |
| Operating cash flow (approximation) | €197,177 | €24,139 | €34,727 | €39,701 | €36,520 | ▼ 8.0% |
| Investment in fixed assets (approximation) | - | -€56,433 | €0 | €0 | €0 | - |
| Change in cash | - | -€130,382 | -€10,403 | -€3,018 | -€17,988 | ▼ 496% |
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
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 24 days late
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€13,969
Net result drops to -€13,969, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €168,827 ▲830%
Operating result €237,833, net result €168,827, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 44 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Knokke-Heist · 1 establishment unit since 1990
Ground area
691 m²
Building footprint
283 m²
Volume, LiDAR
1,316 m³
Parcel 31039A0202/03K000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Natiënlaan 201, 8300 Knokke-Heist
since 19902.046.670.207
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31039A0202/03K000 | Flanders | 691 m² | 1 · 283 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 4,000 EUR awarded · 4,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,000 EUR | 2,000 EUR |
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
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PUBLIRIK
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Of 1,719 companies in sector 47521 we hold annual accounts for 1,288. 1,027 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded15-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
47521Retail sale of hardware, building materials, paint and glass (general range)
43331Floor and wall tiling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0439432170
Registered
27-03-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.