EMISI
ActiveSummary
EMISI has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33,605 and a net result of -€11,300. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 25% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability26▼-3
Solvency33▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.93 against 1.0 in 2024; short-term debt: 79% and cash: 0% of total assets), and 91.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
8.1%
Return on assets
-2.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€11,300
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 11502 sector peers (2025).
NBB · sector comparisonPosition among 11502 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
20 d late
2024
29 d late
2023
8 d early
2022
31 d late
2021
19 d late
2020
31 d late
2019
on the day
← 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 17 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 20 August (5 of the last 5 filed years within 30 days of that day).
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, micro schema
Equity
€33,605▼ 25.2%
2024 · €44,905
Total assets
€415,049▲ 14.9%
2024 · €361,360
Net result
-€11,300▼ 109%
2024 · -€5,400
Working capital
-€21,814▼ 2,465%
2024 · -€850
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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€10,000€18,440▲ 84.4%€29,259▲ 58.7%€11,034▼ 62.3%€437▼ 96.0%
Net result€2,003within the sector's middle half€10,349within the sector's middle half▲ 417%€17,483within the sector's middle half▲ 68.9%-€5,400below the sector's middle half-€11,300below the sector's middle half▼ 109%
Equity€22,472within the sector's middle half▲ 9.8%€32,821within the sector's middle half▲ 46.1%€50,305within the sector's middle half▲ 53.3%€44,905within the sector's middle half▼ 10.7%€33,605within the sector's middle half▼ 25.2%
Total assets€295,776within the sector's middle half▲ 44.3%€326,865within the sector's middle half▲ 10.5%€394,106within the sector's middle half▲ 20.6%€361,360within the sector's middle half▼ 8.3%€415,049above the sector's middle half▲ 14.9%
Debt€273,304▲ 48.1%€294,044▲ 7.6%€343,801▲ 16.9%€316,455▼ 8.0%€381,445▲ 20.5%
Working capital€63,839within the sector's middle half▲ 85.6%-€4,962within the sector's middle half€43,459within the sector's middle half-€850within the sector's middle half-€21,814below the sector's middle half▼ 2,465%
Solvency7.6%below the sector's middle half▼ 2.4pp10.0%within the sector's middle half▲ 2.4pp12.8%within the sector's middle half▲ 2.7pp12.4%within the sector's middle half▼ 0.3pp8.1%below the sector's middle half▼ 4.3pp
Current ratio1.29within the sector's middle half▲ 0.080.98within the sector's middle half▼ 0.311.19within the sector's middle half▲ 0.211.00within the sector's middle half▼ 0.190.93below the sector's middle half▼ 0.06
Return on assets (ROA)0.7%within the sector's middle half▲ 5.5pp3.2%within the sector's middle half▲ 2.5pp4.4%within the sector's middle half▲ 1.3pp-1.5%within the sector's middle half▼ 5.9pp-2.7%within the sector's middle half▼ 1.2pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 96% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €407,047
Fixed assets
€100,807 ▼ 4.1%
Current assets
€306,240 ▲ 25.0%
Equity and liabilities €415,049
Equity
€33,605 ▼ 25.2%
Debt
€381,445 ▲ 20.5%
Debt's share of the balance-sheet total rises from 87.6% to 91.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€21,880▼
2024 · €30,505
Cash flow
€10,143▼
2024 · €14,071
Quick ratio
0.89▼
2024 · 0.94
Debt to equity
11.35▲
2024 · 7.05
ROE
-33.6%▼
2024 · -12.0%
Interest coverage
1.32▼
2024 · 1.42
Debt ≤ 1 year
€328,054▲
2024 · €245,826
Debt > 1 year
€51,865▼
2024 · €70,421
Income taxes
€149▼
2024 · €162
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,037 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
2.9%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 1,037 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 | - | - | €10,000 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,392 | €4,646 | €14,875 | €19,471 | €21,444 | ▲ 10.1% |
| Other operating charges640/8 | €1,166 | €2,393 | €3,738 | €1,563 | €1,194 | ▼ 23.6% |
| Gross operating margin9900 | €13,557 | €25,479 | €47,872 | €32,068 | €23,074 | ▼ 28.0% |
| Operating profit (loss)9901 | €10,000 | €18,440 | €29,259 | €11,034 | €437 | ▼ 96.0% |
| Financial income75/76B | €1,091 | €1,810 | €2,607 | €5,162 | €4,935 | ▼ 4.4% |
| Recurring financial income75 | €1,091 | €1,810 | €2,607 | €5,162 | €4,935 | ▼ 4.4% |
| Financial charges65/66B | €8,820 | €9,614 | €14,087 | €21,434 | €16,523 | ▼ 22.9% |
| Recurring financial charges65 | €8,820 | €9,614 | €14,087 | €21,434 | €16,523 | ▼ 22.9% |
| Profit (loss) for the period before taxes9903 | €2,270 | €10,635 | €17,779 | -€5,238 | -€11,151 | ▼ 113% |
| Income taxes67/77 | €267 | €287 | €295 | €162 | €149 | ▼ 8.0% |
| Profit (loss) for the period9904 | €2,003 | €10,349 | €17,483 | -€5,400 | -€11,300 | ▼ 109% |
| Profit (loss) for the period to be appropriated9905 | €2,003 | €10,349 | €17,483 | -€5,400 | -€11,300 | ▼ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €295,776 | €326,865 | €394,106 | €361,360 | €415,049 | ▲ 14.9% |
| Formation expenses20 | €0 | - | €14,637 | €11,320 | €8,002 | ▼ 29.3% |
| Fixed assets21/28 | €9,570 | €101,902 | €108,933 | €105,065 | €100,807 | ▼ 4.1% |
| Intangible fixed assets21 | €8,583 | €101,411 | €103,909 | €99,711 | €96,311 | ▼ 3.4% |
| Tangible fixed assets22/27 | €496 | €0 | €4,533 | €4,864 | €4,005 | ▼ 17.7% |
| Furniture and vehicles24 | €496 | €0 | €4,533 | €4,864 | €4,005 | ▼ 17.7% |
| Financial fixed assets28 | €491 | €491 | €491 | €491 | €491 | = |
| Current assets29/58 | €286,206 | €224,963 | €270,536 | €244,975 | €306,240 | ▲ 25.0% |
| Amounts receivable after more than one year29 | €38,000 | €58,000 | €91,000 | €91,000 | €91,000 | = |
| Trade receivables290 | €38,000 | €58,000 | €0 | - | - | - |
| Other amounts receivable291 | - | - | €91,000 | €91,000 | €91,000 | = |
| Stocks and contracts in progress3 | €27,880 | €14,726 | €17,224 | €14,786 | €14,726 | ▼ 0.4% |
| Stocks30/36 | €27,880 | €14,726 | €17,224 | €14,786 | €14,726 | ▼ 0.4% |
| Amounts receivable within one year40/41 | €213,658 | €148,899 | €143,132 | €134,559 | €195,579 | ▲ 45.3% |
| Trade receivables40 | €195,643 | €136,372 | €133,396 | €88,311 | €152,953 | ▲ 73.2% |
| Other amounts receivable41 | €18,015 | €12,527 | €9,735 | €46,248 | €42,626 | ▼ 7.8% |
| Cash at bank and in hand54/58 | €2,147 | €1,277 | €15,233 | €683 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | €4,521 | €2,061 | €3,947 | €3,948 | €4,935 | ▲ 25.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €295,776 | €326,865 | €394,106 | €361,360 | €415,049 | ▲ 14.9% |
| Equity10/15 | €22,472 | €32,821 | €50,305 | €44,905 | €33,605 | ▼ 25.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €2,012 | €12,361 | €29,845 | €24,445 | €13,145 | ▼ 46.2% |
| Amounts payable17/49 | €273,304 | €294,044 | €343,801 | €316,455 | €381,445 | ▲ 20.5% |
| Amounts payable after more than one year17 | €12,886 | €64,118 | €80,969 | €70,421 | €51,865 | ▼ 26.4% |
| Financial debts170/4 | €12,886 | €64,118 | €80,969 | €70,421 | €51,865 | ▼ 26.4% |
| Amounts payable within one year42/48 | €222,367 | €229,926 | €227,077 | €245,826 | €328,054 | ▲ 33.4% |
| Current portion of amounts payable after more than one year42 | €5,986 | €8,501 | €25,487 | €20,110 | €20,233 | ▲ 0.6% |
| Financial debts43 | €102,250 | €92,664 | €124,317 | €132,195 | €137,551 | ▲ 4.1% |
| Credit institutions430/8 | €90,000 | €89,995 | €92,912 | €131,776 | €135,132 | ▲ 2.5% |
| Other loans439 | €12,250 | €2,669 | €31,405 | €419 | €2,419 | ▲ 478% |
| Trade debts44 | €53,444 | €104,358 | €75,169 | €92,705 | €165,569 | ▲ 78.6% |
| Suppliers440/4 | €53,444 | €104,358 | €75,169 | €92,705 | €165,569 | ▲ 78.6% |
| Advances received on contracts in progress46 | €60,105 | €23,669 | €1,809 | €0 | €4,390 | - |
| Taxes, remuneration and social security45 | €582 | €733 | €295 | €817 | €311 | ▼ 61.9% |
| Taxes450/3 | €582 | €733 | €295 | €817 | €311 | ▼ 61.9% |
| Accrued charges and deferred income492/3 | €38,051 | €0 | €35,755 | €209 | €1,526 | ▲ 630% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,003 | €10,349 | €17,483 | -€5,400 | -€11,300 | ▼ 109% |
| + Depreciation and write-downs630 | €2,392 | €4,646 | €14,875 | €19,471 | €21,444 | ▲ 10.1% |
| Operating cash flow (approximation) | €4,395 | €14,995 | €32,358 | €14,071 | €10,143 | ▼ 27.9% |
| Investment in fixed assets (approximation) | - | -€96,978 | -€21,906 | -€15,603 | -€17,185 | ▼ 10.1% |
| Change in cash | - | -€871 | €13,957 | -€14,551 | -€683 | ▲ 95.3% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
31-12
Financial
Weakest financial yearnet -€11,300
Net result drops to -€11,300, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €17,483 ▲68.9%
Operating result €29,259, net result €17,483, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial
Back to profitnet €2,003
Net result €2,003 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Namur · 1 establishment unit since 2015
Ground area
2,634 m²
Building footprint
1,021 m²
Volume, LiDAR
15,069 m³
Parcel 92078A0002/02G002, Wallonia · tallest building 18.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
EMESI
since 20152.243.005.828
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92078A0002/02G002 | Wallonia | 2,634 m² | 1 · 1,021 m² | 18.2 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.
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Of 1,076 companies in sector 46140 we hold annual accounts for 646. 409 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-06-2015
Fiscal year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
47820Retail sale of motor vehicle parts and accessories
46190Agents in non-specialised wholesale trade
46720Wholesale of motor vehicle parts and accessories
E-invoicing
Reachable via Peppol
Peppol ID
0208:0631712401
Registered
06-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.