EMISAR
The computed 12-month bankruptcy probability of EMISAR is 2.0% (moderate). The 2024 annual accounts show negative equity (€-74k) and a net result of €2k. Equity is shrinking by ~100% per year across the filed fiscal years. Its solvency ranks better than 10% of 18938 sector peers (fiscal year 2024). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-74k |
| Net result | €2k |
| Staff (FTE) | 6.6 |
| Better than sector | 10% |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -105.2% | 29.1% | |
| Net result | €2k | €5k | |
| Equity | €-74k | €27k | |
| Gross operating margin | €150k | €60k | |
| Staff costs | €123k | €55k |
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €21k | €-117k | €20k |
| Net profit | €2k | €-151k | €-13k |
| Cash flow | €17k | €-121k | €15k |
| Staff costs | €123k | €104k | €69k |
| Income taxes | €240 | - | - |
| Dividends | - | - | - |
| Total assets | €71k | €94k | €177k |
| Equity | €-74k | €-77k | €74k |
| Debt | €145k | €171k | €103k |
| of which ≤ 1y | €137k | €157k | €76k |
| of which > 1y | €8k | €14k | €26k |
| Working capital | €-119k | €-112k | €30k |
| Employees (FTE) | 6.6 | 5.7 | 8.8 |
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Current ratio | 0.13 | 0.29 | 1.40 |
| Quick ratio | 0.10 | 0.17 | 1.19 |
| Working capital ratio | -167.8% | -119.3% | 17.2% |
| Solvency | -105.2% | -81.7% | 42.0% |
| Debt / equity | -1.95 | -2.22 | 1.38 |
| Long-term debt ratio | -0.11 | -0.18 | 0.35 |
| Interest coverage | 5.14 | -27.50 | 4.03 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 3.3% | -160.9% | -7.2% |
| ROE | -3.1% | 196.9% | -17.1% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Full annual accounts (27 line items)
| Line item | Code | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €71k | €94k | €177k |
| Fixed assets | 21/28 | €53k | €49k | €70k |
| Intangible fixed assets | 21 | €1k | €1k | €750 |
| Tangible fixed assets | 22/27 | €48k | €44k | €66k |
| Financial fixed assets | 28 | €3k | €3k | €3k |
| Current assets | 29/58 | €18k | €45k | €107k |
| Stocks & contracts in progress | 3 | €5k | €18k | €16k |
| Amounts receivable within one year | 40/41 | €3k | €5k | €2k |
| Investments | 50/53 | - | €4k | €4k |
| Cash & bank | 54/58 | €8k | €14k | €59k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €71k | €94k | €177k |
| Equity | 10/15 | €-74k | €-77k | €74k |
| Contributions / capital | 10/11 | €19k | €19k | €19k |
| Reserves | 13 | €66k | €66k | €66k |
| Accumulated profits (losses) | 14 | €-160k | €-162k | €-11k |
| Amounts payable | 17/49 | €145k | €171k | €103k |
| Amounts payable after one year | 17 | €8k | €14k | €26k |
| Amounts payable within one year | 42/48 | €137k | €157k | €76k |
| Trade debts payable within one year | 44 | €56k | €83k | €30k |
| Income statement | ||||
| Gross operating margin | 9900 | €150k | €-5k | €94k |
| Operating result | 9901 | €7k | €-147k | €-8k |
| Financial income | 75 | €15 | €82 | €13 |
| Financial charges | 65 | €4k | €4k | €5k |
| Result before taxes | 9903 | €3k | €-151k | €-13k |
| Income taxes | 67/77 | €240 | - | - |
| Net result for the period | 9904 | €2k | €-151k | €-13k |
| Result to be appropriated | 9905 | €2k | €-151k | €-13k |
Former directors (1)
-
Ludovic ODELLIManagerState Gazette act 24301409 (02-01-2024)Former- → 02-01-2024
| NACE primary | Cafés and bars(56301) |
| Legal form | Private limited company(610) |
| Incorporation | 13-12-1989 |
| Status | Active |
| Postal code | 7130 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56011B0158/00C000 | Wallonia | 135 m² | 1 · 22 m² | 12.8 m · 4 fl. |
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
30-07-2024 Registered office moved to Binche
- Grand place nr 38 7130 Binche
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Grand place nr 38\n7130 Binche",
"city": "Binche",
"region": "waals_gewest",
"street": "Grand place",
"country": "BE",
"postcode": "7130",
"box_number": null,
"street_number": "38",
"locality_suffix": null
},
"old_address": null,
"effective_date": "2024-07-19",
"evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale extraordinaire r\u00E9unie le 25 juin 2024 accepte le changement du si\u00E8ge social \u00E0 l\u0027adresse suivante",
"region_changed": false,
"is_statute_change": true,
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"old_address_source": "inferred",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "immediate",
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"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": null,
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},
"act_meta": {
"language": "mixed",
"pub_date": "2024-07-30",
"filing_date": "2024-06-25",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decision": {
"body": "conseil_d_administration",
"date": "2024-06-25",
"unanimous": null
},
"subject_company": {
"kbo": "0439.499.773",
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},
"co_filed_documents": []
}02-01-2024 1 resigning, 1 reappointed
- Ludovic ODELLI, Zaakvoerder
- Ludovic ODELLI, Bestuurder
Technical details
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},
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{
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],
"notary": {
"name": "Astrid Grosfils",
"firm_city": null,
"firm_name": null,
"office_city": "Lodelinsart",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2024-01-02",
"filing_date": "2023-12-27",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decisions": [
{
"body": "buitengewone_algemene_vergadering",
"date": "2023-12-21",
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}
],
"is_correction": false,
"subject_company": {
"kbo": "0439.499.773",
"name_full": "EMISAR",
"legal_form": "SRL"
},
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},
"co_filed_documents": [
"expedition of the act"
],
"corrected_publication_numac": null
}| Legal nameFR | EMISAR |