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EMEXA

Active
Private limited companyfounded 200224 yrs activeArmand Campenhoutstraat 2, 1050 Elsene, BelgiumKBO/BCE: BE 0478.085.680
Summary

The computed 12-month bankruptcy probability of EMEXA is 2.1% (moderate). The 2025 annual accounts show negative equity (-€33,284) and a net result of -€8,612. Equity is shrinking by ~7.7% per year across the filed fiscal years. The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
44 / 100
Weak
Negative equity caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability66▲+47
Solvency17▲+17
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
2.1% Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
short-term debt: 0% and cash: 0.3% of total assets, and equity is negative.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 24 years 0 30 y
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 2025
Solvency, return and age of the figures
Solvency
-8.3%
Return on assets
-2.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€33,284
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
15 d early
2024
16 d early
2023
30 d late
2022
20 d early
2021
34 d early
2020
24 d late
2019
19 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 2 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 29 July 2002, EMEXA was incorporated.1 Total assets went from EUR 8,470 in 2018 to EUR 401,634 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, micro schema

Equity
-€33,284▼ 34.9%
2024 · -€24,672
Total assets
€401,634▲ 442%
2024 · €74,063
Net result
-€8,612▼ 282%
2024 · -€2,252
Working capital
€4,976▼ 53.4%
2023 · €10,688
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result€4,746▲ 11.6%€507▼ 89.3%-€14,433-€2,023▲ 86.0%-€8,472▼ 319%
Net result€4,549▲ 10.6%€354▼ 92.2%-€14,721-€2,252▲ 84.7%-€8,612▼ 282%
Equity-€8,053▲ 36.1%-€7,699▲ 4.4%-€22,420▼ 191%-€24,672▼ 10.0%-€33,284▼ 34.9%
Total assets€9,042▼ 54.3%€9,644▲ 6.7%€82,144▲ 752%€74,063▼ 9.8%€401,634▲ 442%
Debt€17,095▼ 47.2%€17,343▲ 1.5%€104,564▲ 503%€98,735▼ 5.6%€434,918▲ 340%
Working capital€8,188€9,256▲ 13.0%€10,688▲ 15.5%€4,976
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€15,000-€10,000-€5,000€0€5,000Operating result 2021: €4,746€4,746Net result 2021: €4,549€4,549Operating result 2022: €507€507Net result 2022: €354€354Operating result 2023: -€14,433-€14,433Net result 2023: -€14,721-€14,721Operating result 2024: -€2,023-€2,023Net result 2024: -€2,252-€2,252Operating result 2025: -€8,472-€8,472Net result 2025: -€8,612-€8,61220212022202320242025-€15,000-€10,000-€5,000€0Operating result 2023: -€14,433-€14,400Net result 2023: -€14,721-€14,700Operating result 2024: -€2,023-€2,020Net result 2024: -€2,252-€2,250Operating result 2025: -€8,472-€8,470Net result 2025: -€8,612-€8,610202320242025
The operating result stays negative: a loss of €8,472 in 2025 against €2,023 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €401,634
Fixed assets €396,620 ▲ 452%
Current assets €5,014 ▲ 122%
Key figures and ratios
2025 value · change against 2024
EBITDA
€6,571▲
2024 · €110
Cash flow
€6,431▲
2024 · -€119
Solvency
-8.3%▲
2024 · -33.3%
Debt to equity
-13.07▼
2024 · -4.00
ROA
-2.1%▲
2024 · -3.0%
Interest coverage
46.94▲
2024 · 0.48
Debt ≤ 1 year
€38
Debt > 1 year
€434,880▲
2024 · €98,690
A ratio outside any meaningful range has been withheld (balance sheet total €401,634, equity -€33,284).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,799 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 20 years or older
  • negative equity
  • a small loss
1.9% went bankrupt
5.9% stopped otherwise
90% 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 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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 2,799 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 34 lines
Balance sheet Code20242025
Assets
Total assets20/58€74,063€401,634▲
Fixed assets21/28€71,808€396,620▲
Tangible fixed assets22/27€71,808€396,620▲
Land and buildings22€69,445€394,969▲
Furniture and vehicles24€2,363€1,651▼
Current assets29/58€2,255€5,014▲
Amounts receivable within one year40/41€113€3,547▲
Trade receivables40€113-
Other amounts receivable41-€3,547
Cash at bank and in hand54/58€1,960€1,280▼
Deferred charges and accrued income490/1€182€187▲
Equity and liabilities
Total equity and liabilities10/49€74,063€401,634▲
Equity10/15-€24,672-€33,284▼
Contributions10/11€6,200€6,200=
Profit (loss) carried forward14-€30,872-€39,484▼
Amounts payable17/49€98,735€434,918▲
Amounts payable after more than one year17€98,690€434,880▲
Financial debts170/4€75,000€75,000=
Other amounts payable178/9€23,690€359,880▲
Amounts payable within one year42/48-€38
Trade debts44-€38
Suppliers440/4-€38
Accrued charges and deferred income492/3€45-
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,133€15,043▲
Other operating charges640/8€795€1,643▲
Gross operating margin9900€905€8,214▲
Operating profit (loss)9901-€2,023-€8,472▼
Financial charges65/66B€229€140▼
Recurring financial charges65€229€140▼
Profit (loss) for the period before taxes9903-€2,252-€8,612▼
Profit (loss) for the period9904-€2,252-€8,612▼
Profit (loss) for the period to be appropriated9905-€2,252-€8,612▼
Appropriation of the result
Profit (loss) to be appropriated9906-€30,872-€39,484▼
Profit (loss) brought forward from the previous period14P-€28,620-€30,872▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€550€454€2,598€2,133€15,043▲ 605%
Other operating charges640/8€391€347€459€795€1,643▲ 107%
Gross operating margin9900€5,687€1,308-€11,376€905€8,214▲ 808%
Operating profit (loss)9901€4,746€507-€14,433-€2,023-€8,472▼ 319%
Financial charges65/66B€197€153€288€229€140▼ 38.9%
Recurring financial charges65€197€153€288€229€140▼ 38.9%
Profit (loss) for the period before taxes9903€4,549€354-€14,721-€2,252-€8,612▼ 282%
Profit (loss) for the period9904€4,549€354-€14,721-€2,252-€8,612▼ 282%
Profit (loss) for the period to be appropriated9905€4,549€354-€14,721-€2,252-€8,612▼ 282%
Line20212022202320242025Change
Assets
Total assets20/58€9,042€9,644€82,144€74,063€401,634▲ 442%
Fixed assets21/28€454-€71,418€71,808€396,620▲ 452%
Tangible fixed assets22/27€454-€71,418€71,808€396,620▲ 452%
Land and buildings22--€71,418€69,445€394,969▲ 469%
Furniture and vehicles24€454--€2,363€1,651▼ 30.1%
Current assets29/58€8,588€9,644€10,726€2,255€5,014▲ 122%
Amounts receivable within one year40/41---€113€3,547▲ 3,039%
Trade receivables40---€113--
Other amounts receivable41----€3,547-
Cash at bank and in hand54/58€8,447€9,487€10,549€1,960€1,280▼ 34.7%
Deferred charges and accrued income490/1€141€157€177€182€187▲ 2.7%
Equity and liabilities
Total equity and liabilities10/49€9,042€9,644€82,144€74,063€401,634▲ 442%
Equity10/15-€8,053-€7,699-€22,420-€24,672-€33,284▼ 34.9%
Contributions10/11€6,200€6,200€6,200€6,200€6,200=
Profit (loss) carried forward14-€14,253-€13,899-€28,620-€30,872-€39,484▼ 27.9%
Amounts payable17/49€17,095€17,343€104,564€98,735€434,918▲ 340%
Amounts payable after more than one year17€16,658€16,942€103,126€98,690€434,880▲ 341%
Financial debts170/4--€75,000€75,000€75,000=
Other amounts payable178/9€16,658€16,942€28,126€23,690€359,880▲ 1,419%
Amounts payable within one year42/48€400€388€38-€38-
Trade debts44€400€388€38-€38-
Suppliers440/4€400€388€38-€38-
Accrued charges and deferred income492/3€37€13€1,400€45--
Line20212022202320242025Change
Profit (loss) for the period9904€4,549€354-€14,721-€2,252-€8,612▼ 282%
+ Depreciation and write-downs630€550€454€2,598€2,133€15,043▲ 605%
Operating cash flow (approximation)€5,099€808-€12,123-€119€6,431▲ 5,504%
Investment in fixed assets (approximation)----€2,523-€339,855▼ 13,370%
Change in cash-€1,040€1,062-€8,589-€680▲ 92.1%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
16-07
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
15-07
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial Weakest financial yearnet -€14,721
Net result drops to -€14,721, the lowest in the series; recovery starts the following year.
31-12
Financial Liquidity times 11current ratio 282.26
Current ratio from 24.86 to 282.26; short-term debt falls from €388 to €38.
11-07
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
24-08
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
19-08
NBB filing Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial Highest result since 2018net €11,051 ▲27.3%
Operating result €11,192, net result €11,051, both a record.
31-12
Financial Liquidity times 103current ratio 541.61
Current ratio from 5.26 to 541.61; short-term debt falls from €1,470 to €49.
30-08
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
26-07
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
16-08
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Elsene · 1 establishment unit since 2003
seat establishment The establishment unit on the map
Ground area
85 m²
Building footprint
77 m²
Volume, LiDAR
907 m³
Parcel 21447B0218/00G004, Brussels · tallest building 18.0 m, ±5 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
Armand Campenhoutstraat 2, 1050 Elsene
NACE 5250202
since 20032.123.445.905
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21447B0218/00G004 Brussels 84 m² 1 · 77 m² 18.0 m · 5 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.

Identification & contact

Identification
Legal formPrivate limited company
Founded29-07-2002
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.