Equity
Debts exceed assets in financial year 2025.
In July 2024, 6,908 companies had the same profile as EMEYES has now. Each dot stands for 18 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 6,908 companies, not a prediction for EMEYES. 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.
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.
| Company | ||||
|---|---|---|---|---|
| EMEYES Villers-la-Ville | €91,662 | -€6,932 | -1.8% | - |
| IMPROCO Wavre | €101,508 | €1,242 | 86.2% | - |
| GROEI ACADEMIE Bruges | €93,124 | -€49,698 | -39.4% | - |
| One2Learn Thuin | €77,677 | -€2,396 | 44.3% | - |
| New Ideas, Learning & Solutions Hub Saint-Josse-ten-Noode | €70,981 | -€44,623 | -315.2% | - |
| YA-COURS Brussels | €95,248 | -€8,637 | 11.1% | - |
| MMI-CONSULT Enghien | €153,167 | -€690 | 98.9% | - |
These companies have the same main activity as EMEYES: other education (NACE 85599). They are comparable in size and age: total assets between €71,000 and €153,000, founded between 2011 and 2016.
EMEYES files the micro format. That format states no turnover. The gross margin fell from €31,520 in 2016 to -€6,932 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 16% of 2,612 companies in 2025.
Higher than 25% of 2,481 companies in 2025.
Higher than 13% of 2,510 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
91,662 | 87,606 | 104,145 | 71,560 | 77,191 | 106,796 | 129,557 | 115,341 | 89,750 | 47,156 | |
21/28 |
10,328 | 18,486 | 10,696 | 12,594 | 16,501 | 23,366 | 29,663 | 32,440 | 36,117 | 11,596 | |
22/27 |
10,238 | 18,396 | 10,606 | 12,504 | 16,411 | 23,276 | 29,573 | 32,350 | 36,027 | 11,506 | |
22 |
3,099 | 6,198 | 9,297 | 12,396 | 15,495 | 18,593 | 21,708 | 24,992 | 28,275 | 570 | |
23 |
3,981 | 6,592 | 1,309 | 108 | 917 | 4,683 | 7,865 | 7,359 | 7,255 | 4,477 | |
24 |
3,158 | 5,607 | - | - | - | - | - | - | 497 | 6,459 | |
28 |
90 | 90 | 90 | 90 | 90 | 90 | 90 | 90 | 90 | 90 | |
29/58 |
81,334 | 69,119 | 93,448 | 58,966 | 60,690 | 83,430 | 99,894 | 82,901 | 53,633 | 35,560 | |
40/41 |
80,305 | 66,791 | 92,715 | 58,285 | 48,985 | 48,195 | 85,440 | 82,081 | 46,253 | 6,056 | |
40 |
12,539 | 3,301 | 35,459 | 3,612 | 3,473 | 9,415 | 57,019 | 59,313 | 35,281 | 5,250 | |
41 |
67,766 | 63,491 | 57,256 | 54,673 | 45,512 | 38,780 | 28,421 | 22,768 | 10,972 | 806 | |
54/58 |
468 | 1,697 | - | - | 11,025 | 34,350 | 13,531 | 312 | 6,908 | 29,035 | |
490/1 |
560 | 632 | 733 | 681 | 679 | 884 | 923 | 508 | 473 | 469 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
91,662 | 87,606 | 104,145 | 71,560 | 77,191 | 106,796 | 129,557 | 115,341 | 89,750 | 47,156 | |
10/15 |
-1,676 | 14,097 | 32,801 | 11,783 | 21,709 | 43,414 | 49,741 | 27,238 | 19,912 | 17,960 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
14 |
-15,936 | -163 | 18,541 | -2,477 | 7,449 | 29,154 | 35,481 | 12,978 | 5,652 | 3,700 | |
17/49 |
93,337 | 73,509 | 71,344 | 59,777 | 55,483 | 63,382 | 79,816 | 88,103 | 69,838 | 29,197 | |
42/48 |
93,337 | 73,509 | 71,344 | 59,777 | 55,483 | 63,382 | 79,816 | 88,103 | 69,838 | 29,197 | |
43 |
24,500 | 14,000 | 10,179 | 5,650 | - | - | - | 18,000 | - | - | |
430/8 |
24,500 | 14,000 | 10,179 | 5,650 | - | - | - | 18,000 | - | - | |
44 |
4,118 | 3,770 | 8,399 | 4,351 | 5,426 | 4,969 | 7,785 | 16,315 | 12,586 | 1,237 | |
440/4 |
4,118 | 3,770 | 8,399 | 4,351 | 5,426 | 4,969 | 7,785 | 16,315 | 12,586 | 1,237 | |
45 |
614 | 633 | 658 | 671 | 802 | 9,026 | 11,494 | 4,251 | 1,976 | 3,739 | |
450/3 |
614 | 633 | 658 | 671 | 802 | 9,026 | 10,994 | 4,251 | 1,976 | 3,739 | |
454/9 |
- | - | - | - | - | - | 500 | - | - | - | |
47/48 |
64,105 | 55,105 | 52,108 | 49,105 | 49,255 | 49,387 | 60,537 | 49,537 | 55,276 | 24,221 | |
| Income statement | |||||||||||
9900 |
-6,932 | -13,054 | 24,017 | -7,570 | -15,502 | 2,859 | 43,261 | 19,399 | 22,363 | 31,520 | |
630 |
8,524 | 6,759 | 3,273 | 3,908 | 6,865 | 8,724 | 11,647 | 9,532 | 16,834 | 19,703 | |
640/8 |
1,348 | 505 | 476 | 444 | 787 | 1,093 | 1,671 | 646 | 708 | 1,172 | |
9901 |
-16,804 | -20,318 | 20,268 | -11,922 | -23,153 | -6,958 | 29,942 | 9,221 | 4,822 | 10,645 | |
75/76B |
3,547 | 3,635 | 2,935 | 3,375 | 2,602 | 1,589 | 1,958 | 1,198 | 112 | 97 | |
75 |
3,547 | 3,635 | 2,935 | 3,375 | 2,602 | 1,589 | 1,958 | 1,198 | 112 | 97 | |
65/66B |
2,210 | 1,711 | 1,860 | 1,045 | 787 | 602 | 726 | 866 | 1,005 | 1,443 | |
65 |
2,210 | 1,711 | 1,860 | 1,045 | 787 | 602 | 726 | 866 | 1,005 | 1,443 | |
9903 |
-15,467 | -18,395 | 21,342 | -9,593 | -21,339 | -5,972 | 31,174 | 9,553 | 3,929 | 9,299 | |
67/77 |
305 | 309 | 324 | 333 | 367 | 355 | 8,671 | 2,227 | 1,976 | 3,739 | |
9904 |
-15,772 | -18,704 | 21,018 | -9,926 | -21,705 | -6,327 | 22,503 | 7,326 | 1,953 | 5,560 | |
9905 |
-15,772 | -18,704 | 21,018 | -9,926 | -21,705 | -6,327 | 22,503 | 7,326 | 1,953 | 5,560 | |
| Appropriation of the result | |||||||||||
9906 |
-15,936 | -163 | 18,541 | -2,477 | 7,449 | 29,154 | 35,481 | 12,978 | 5,652 | 5,560 | |
14P |
-163 | 18,541 | -2,477 | 7,449 | 29,154 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
| Document | |||||||||||
The notes to these accounts have 6 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 30-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00354464 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00282866 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00226234 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00189167 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20234097 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-47800510 | |
| 31-12-2019 | micro format | 08-10-2020 | 2020-60300185 | |
| 31-12-2018 | full format | 20-08-2019 | 2019-48100198 | |
| 31-12-2017 | full format | 12-07-2018 | 2018-32900303 | |
| 31-12-2016 | full format | 21-08-2017 | 2017-45400307 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -8,280 | -13,559 | 23,541 | -8,014 | -16,288 | 1,766 | 41,589 | 18,753 | 21,655 | 30,348 | ||
| -7,248 | -11,944 | 24,291 | -6,018 | -14,841 | 2,397 | 34,150 | 16,858 | 18,786 | 25,262 | ||
| 366 | 14,549 | 1,376 | 0 | 0 | 2,427 | 8,870 | 5,855 | 41,355 | 31,299 | ||
| -1,228 | - | - | - | -23,325 | 20,819 | 13,219 | -6,596 | -22,127 | - | ||
| -12,003 | -4,389 | 22,105 | -811 | 5,207 | 20,048 | 20,078 | -5,202 | -16,205 | 6,364 | ||
| -1.8% | 16.1% | 31.5% | 16.5% | 28.1% | 40.7% | 38.4% | 23.6% | 22.2% | 38.1% | ||
| 0.87 | 0.94 | 1.31 | 0.99 | 1.09 | 1.32 | 1.25 | 0.94 | 0.77 | 1.22 | ||
| - | 5.21 | 2.18 | 5.07 | 2.56 | 1.46 | 1.60 | 3.23 | 3.51 | 1.63 | ||
| - | -132.7% | 64.1% | -84.2% | -100.0% | -14.6% | 45.2% | 26.9% | 9.8% | 31.0% | ||
| -17.2% | -21.4% | 20.2% | -13.9% | -28.1% | -5.9% | 17.4% | 6.4% | 2.2% | 11.8% | ||
| -3.75 | -7.92 | 12.65 | -7.67 | -20.69 | - | - | - | - | - |
EBIT margin: not included in this filing.
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 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €366 | €14,549 | €1,376 | - | - |
| €8,524 | €6,759 | €3,273 | €3,908 | €6,865 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €16,804, smaller than the loss of €20,318 in 2024.
Equity is negative. Debt (€93,337) exceeds the balance-sheet total (€91,662).
Source: shareholder structure in its own accounts
EMEYES has no parent and no holdings in its annual accounts. is the only director.
| VERMEULEN MEDICAL
registered office since 28-01-2011 · founded in 2011 |
total assets €232,554 (2025) 0833.500.610 |
| Bourgois, Emmanuel (sole trader)
establishment since 07-06-1995 |
founded in 1995 0543.197.723 |
The network starts from the directors of EMEYES. Every other company they run is a node.
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
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Sart 36 registered office 1495 Villers-la-Ville | 13-02-2015 | 2.239.271.625 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25107A0077/00L000 | 2,202 m² | 1 · 78 m² | 11.5 m · 3 |
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