EMH DEVELOPMENTS
ActiveSummary
EMH DEVELOPMENTS has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€96,125) and a net result of -€6,134. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 16,985 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
- Equity
- -€96,125
- Loss
- -€6,134
- GOLDBERG FeigyDirector
- GOLDBERG Jozef LeibichDirector
Why 54raises riskCapped at 59: negative equityNegative equity -€96,125Loss of €6,134 (financial year 2025)lowers riskSize: total assets €5,615Sector: Real estate activities (NACE 68)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 5% on solvency, 49% on liquidity, 4% on profitability and 31% on growth.
The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 10 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Back to profitnet €39,801
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €5,694 after €39,909 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 6,007 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 82.9% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 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 74.5% 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 6,007 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €521 | €749 | €879 | €609 | ▼ 30.7% |
| Other operating charges640/8 | - | - | €454 | €166 | €549 | €281 | €120 | ▼ 57.2% |
| Gross operating margin9900 | €38,013 | €29,401 | €55,138 | -€38,244 | -€170,699 | €41,069 | -€4,965 | - |
| Operating profit (loss)9901 | €37,642 | €28,293 | €54,683 | -€38,931 | -€171,997 | €39,909 | -€5,694 | - |
| Financial income75/76B | - | - | €3,110 | €2,983 | €1,268 | - | - | - |
| Recurring financial income75 | €968 | €3,218 | €3,110 | €2,983 | €1,268 | - | - | - |
| Financial charges65/66B | - | - | €13,624 | €10,010 | €159 | €109 | €440 | ▲ 305% |
| Recurring financial charges65 | €164 | €28,366 | €13,624 | €10,010 | €159 | €109 | €440 | ▲ 305% |
| Profit (loss) for the period before taxes9903 | €38,447 | €3,145 | €44,169 | -€45,958 | -€170,888 | €39,801 | -€6,134 | - |
| Income taxes67/77 | €7,800 | €672 | €8,834 | - | - | - | - | - |
| Profit (loss) for the period9904 | €30,647 | €2,473 | €35,335 | -€45,958 | -€170,888 | €39,801 | -€6,134 | - |
| Profit (loss) for the period to be appropriated9905 | €30,647 | €2,473 | €35,335 | -€45,958 | -€170,888 | €39,801 | -€6,134 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.07m | €0.8m | €1.4m | €0.4m | €0.06m | €0.002m | €0.006m | ▲ 217% |
| Fixed assets21/28 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 43.9% |
| Tangible fixed assets22/27 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 43.9% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 47.6% |
| Furniture and vehicles24 | - | - | - | - | €0.001m | €410 | €265 | ▼ 35.3% |
| Current assets29/58 | €0.07m | €0.8m | €1.4m | €0.4m | €0.06m | €386 | €0.005m | ▲ 1,154% |
| Stocks and contracts in progress3 | €0.02m | €0.8m | €1.3m | €0.3m | - | - | - | - |
| Stocks30/36 | - | - | €1.3m | €0.3m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.05m | €0.04m | €0.05m | €0.1m | - | - | €259 | - |
| Trade receivables40 | - | - | - | €0.05m | - | - | - | - |
| Other amounts receivable41 | - | - | €0.05m | €0.06m | - | - | €259 | - |
| Cash at bank and in hand54/58 | €7 | €0.001m | €0.03m | €111 | €0.06m | €386 | €0.005m | ▲ 1,086% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €197 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.07m | €0.8m | €1.4m | €0.4m | €0.06m | €0.002m | €0.006m | ▲ 217% |
| Equity10/15 | €0.04m | €0.04m | €0.07m | €0.03m | -€0.1m | -€0.09m | -€0.1m | ▼ 6.8% |
| Contributions10/11 | €0.006m | - | €0.006m | €0.006m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | - | €0.03m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Distributable reserves133 | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Profit (loss) carried forward14 | €0.03m | - | - | -€0.05m | -€0.2m | -€0.2m | -€0.2m | ▼ 3.5% |
| Amounts payable17/49 | €0.03m | €0.8m | €1.3m | €0.4m | €0.2m | €0.09m | €0.1m | ▲ 10.9% |
| Amounts payable within one year42/48 | €0.03m | €0.8m | €1.3m | €0.4m | €0.2m | €0.09m | €0.1m | ▲ 10.9% |
| Financial debts43 | - | - | €0.7m | - | - | - | - | - |
| Credit institutions430/8 | - | - | €0.7m | - | - | - | - | - |
| Trade debts44 | €0.003m | €0.02m | €0.2m | €0.02m | - | €0.003m | €0.01m | ▲ 310% |
| Suppliers440/4 | - | - | €0.2m | €0.02m | - | €0.003m | €0.01m | ▲ 310% |
| Taxes, remuneration and social security45 | - | - | €0.05m | €0.02m | €0.001m | €0.01m | - | - |
| Taxes450/3 | - | - | €0.05m | €0.02m | €0.001m | €0.01m | - | - |
| Other amounts payable47/48 | - | - | €0.4m | €0.3m | €0.2m | €0.08m | €0.09m | ▲ 13.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,647 | €2,473 | €35,335 | -€45,958 | -€170,888 | €39,801 | -€6,134 | - |
| + Depreciation and write-downs630 | - | - | - | €521 | €749 | €879 | €609 | ▼ 30.7% |
| Operating cash flow (approximation) | €30,647 | €2,473 | €35,335 | -€45,437 | -€170,140 | €40,680 | -€5,525 | - |
| Investment in fixed assets (approximation) | - | - | - | - | -€925 | -€782 | €0 | - |
| Change in cash | - | €596 | €27,821 | -€28,313 | €58,750 | -€58,475 | €4,193 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00286285 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00351407 |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00304432 |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00304288 |
| 31-12-2021 | abbreviated format | 25-07-2022 | 2022-20226488 |
| 31-12-2020 | micro format | 13-07-2021 | 2021-35000047 |
| 31-12-2019 | abbreviated format | 10-07-2020 | 2020-28600294 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| GOLDBERG Feigy |
|
| GOLDBERG Jozef Leibich |
|
Owners and capital
Capital and shareholders
- 22-12-2023 Converted to unavailable equity · €6,200
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
22-12
Gazette deed
Resignations: GOLDBERG Jozef Leibich (zaakvoerder bestuurder) and GOLDBERG Feigy (zaakvoerder bestuurder)Appointments: GOLDBERG Jozef Leibich (director) and GOLDBERG Feigy (director) · Amendment of the articles · Capital conversion14 facts ▸
- General meeting, 18-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van de statutenwijziging, opheffing” (deed in Dutch)
- Other provision, “niet-opgevraagde inbrengen blijven opeisbaar”, 12400 (deed in Dutch)
- Capital
- Director resignation, GOLDBERG Jozef Leibich (zaakvoerder bestuurder)
- Director resignation, GOLDBERG Feigy (zaakvoerder bestuurder)
- Director discharge, GOLDBERG Jozef Leibich
- Director discharge, GOLDBERG Feigy
- Director appointment, GOLDBERG Jozef Leibich (director (not named in the articles))
- Director appointment, GOLDBERG Feigy (director (not named in the articles))
- +2 further facts in this act
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0701.673.551
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11806F1245/00B007 | Flanders | 911 m² | 1 · 224 m² | 21.4 m · 6 |
| 11806F1233/00P007 | Flanders | 764 m² | 1 · 163 m² | 22.1 m · 6 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- EMH DEVELOPMENTS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, mag bij beslissing van bestuursorgaan exploitatiezetels, administratieve zetels, filialen, agentschappen en depots in België…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Algemene kosten, algemene vergadering bij absolute meerderheid of enige aandeelhouder” (deed in Dutch)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, vruchtgebruiker en blote eigenaar afzonderlijk met rechten” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Inbreng in geld met nieuwe aandelen, e-mail,of gewone post zonder e-mailadres” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of June at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed