EMIVAD
ActiveSummary
EMIVAD has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €350,426 and a net result of €29,796. Equity is growing by ~14.7% per year across the filed fiscal years. Its solvency ranks better than 54% of 17239 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-28
Solvency88▲+3
Growth46=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 8.41 against 9.44 in 2024; short-term debt: 6.8% and cash: 52.2% of total assets), and 36.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
63.2%
Return on assets
5.4%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
27 d late
2023
70 d late
2022
31 d late
2021
37 d late
2020
26 d late
2019
28 d late
← 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 36 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#2 company by total assets in La Bruyère, Telecoms and IT sector#2 company by equity in La Bruyère, Telecoms and IT sector
Turnover
€150,059▲ 1.8%
2020 · €147,470
EBIT margin
45.0%▼ 2.6pp
2020 · 47.5%
Net result
€29,796▲ 72.9%
2024 · €17,229
Working capital
€281,051▼ 2.3%
2024 · €287,584
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€150,059▲ 1.8%
Operating result€67,462▼ 3.7%€95,024▲ 40.9%€105,018▲ 10.5%€41,265▼ 60.7%€109,492▲ 165%
Net result€32,639within the sector's middle half▼ 33.8%€60,837above the sector's middle half▲ 86.4%€69,456above the sector's middle half▲ 14.2%€17,229within the sector's middle half▼ 75.2%€29,796within the sector's middle half▲ 72.9%
EBIT margin45.0%▼ 2.6pp
Equity€236,205above the sector's middle half▲ 15.6%€281,435above the sector's middle half▲ 19.1%€345,082above the sector's middle half▲ 22.6%€341,471above the sector's middle half▼ 1.0%€350,426above the sector's middle half▲ 2.6%
Total assets€432,371above the sector's middle half▲ 6.1%€488,104above the sector's middle half▲ 12.9%€526,561above the sector's middle half▲ 7.9%€565,779above the sector's middle half▲ 7.4%€554,494above the sector's middle half▼ 2.0%
Debt€196,166▼ 3.5%€206,670▲ 5.4%€181,479▼ 12.2%€181,609▲ 0.1%€162,611▼ 10.5%
Working capital€141,865above the sector's middle half▲ 35.7%€184,033above the sector's middle half▲ 29.7%€244,379above the sector's middle half▲ 32.8%€287,584above the sector's middle half▲ 17.7%€281,051above the sector's middle half▼ 2.3%
Solvency54.6%within the sector's middle half▲ 4.5pp57.7%within the sector's middle half▲ 3.0pp65.5%within the sector's middle half▲ 7.9pp60.4%within the sector's middle half▼ 5.2pp63.2%within the sector's middle half▲ 2.8pp
Current ratio6.31above the sector's middle half▲ 0.804.83within the sector's middle half▼ 1.488.20above the sector's middle half▲ 3.379.44above the sector's middle half▲ 1.248.41above the sector's middle half▼ 1.03
Return on assets (ROA)7.5%within the sector's middle half▼ 4.5pp12.5%within the sector's middle half▲ 4.9pp13.2%within the sector's middle half▲ 0.7pp3.0%below the sector's middle half▼ 10.1pp5.4%within the sector's middle half▲ 2.3pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, 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 recovers in 2025; 2025 is 165% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €554,494
Fixed assets
€235,513 ▼ 3.5%
Current assets
€318,981 ▼ 0.8%
Equity and liabilities €554,494
Equity
€350,426 ▲ 2.6%
Provisions
€41,457 ▼ 2.9%
Debt
€162,611 ▼ 10.5%
Debt's share of the balance-sheet total falls from 32.1% to 29.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€118,116▲
2024 · €49,691
Cash flow
€38,420▲
2024 · €25,655
Debt to equity
0.46▼
2024 · 0.53
ROE
8.5%▲
2024 · 5.0%
Interest coverage
2.31▼
2024 · 14.58
Debt ≤ 1 year
€37,930▲
2024 · €34,057
Debt > 1 year
€124,681▼
2024 · €147,551
Income taxes
€22,394▲
2024 · €18,221
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 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% 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 17,811 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €150,059 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €14,208 | - |
| Goods, raw materials, services and sundry goods60/61 | €71,664 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,109 | €7,762 | €7,762 | €8,426 | €8,624 | ▲ 2.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €42,699 | -€1,242 | ▼ 103% |
| Other operating charges640/8 | €2,869 | €1,981 | €2,182 | €2,606 | €4,132 | ▲ 58.5% |
| Gross operating margin9900 | €86,439 | €104,767 | €114,962 | €94,997 | €121,006 | ▲ 27.4% |
| Operating profit (loss)9901 | €67,462 | €95,024 | €105,018 | €41,265 | €109,492 | ▲ 165% |
| Financial income75/76B | €67 | €124 | €253 | €2,543 | €3,433 | ▲ 35.0% |
| Recurring financial income75 | €67 | €124 | €253 | €2,543 | €3,433 | ▲ 35.0% |
| Financial charges65/66B | €17,612 | €8,729 | €8,622 | €8,358 | €60,735 | ▲ 627% |
| Recurring financial charges65 | €4,162 | €3,929 | €3,822 | €3,408 | €51,085 | ▲ 1,399% |
| Non-recurring financial charges66B | €13,450 | €4,800 | €4,800 | €4,950 | €9,650 | ▲ 94.9% |
| Profit (loss) for the period before taxes9903 | €49,917 | €86,419 | €96,649 | €35,449 | €52,190 | ▲ 47.2% |
| Income taxes67/77 | €17,278 | €25,582 | €27,194 | €18,221 | €22,394 | ▲ 22.9% |
| Profit (loss) for the period9904 | €32,639 | €60,837 | €69,456 | €17,229 | €29,796 | ▲ 72.9% |
| Profit (loss) for the period to be appropriated9905 | €32,639 | €60,837 | €69,456 | €17,229 | €29,796 | ▲ 72.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €432,371 | €488,104 | €526,561 | €565,779 | €554,494 | ▼ 2.0% |
| Fixed assets21/28 | €263,778 | €256,016 | €248,254 | €244,137 | €235,513 | ▼ 3.5% |
| Tangible fixed assets22/27 | €263,778 | €256,016 | €248,254 | €244,137 | €235,513 | ▼ 3.5% |
| Land and buildings22 | €263,778 | €256,016 | €248,254 | €244,137 | €235,513 | ▼ 3.5% |
| Current assets29/58 | €168,593 | €232,088 | €278,307 | €321,642 | €318,981 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €13,949 | €18,618 | €20,316 | €34,888 | €25,832 | ▼ 26.0% |
| Trade receivables40 | €12,197 | €16,843 | €18,392 | €21,199 | €21,550 | ▲ 1.7% |
| Other amounts receivable41 | €1,752 | €1,775 | €1,924 | €13,689 | €4,282 | ▼ 68.7% |
| Current investments50/53 | €9,200 | €9,750 | €14,600 | €9,650 | - | - |
| Cash at bank and in hand54/58 | €142,729 | €201,641 | €240,703 | €272,497 | €289,559 | ▲ 6.3% |
| Deferred charges and accrued income490/1 | €2,716 | €2,079 | €2,689 | €4,606 | €3,589 | ▼ 22.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €432,371 | €488,104 | €526,561 | €565,779 | €554,494 | ▼ 2.0% |
| Equity10/15 | €236,205 | €281,435 | €345,082 | €341,471 | €350,426 | ▲ 2.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €91,660 | €136,889 | €196,889 | €193,278 | €202,233 | ▲ 4.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €89,800 | €135,029 | €195,029 | €191,418 | €200,373 | ▲ 4.7% |
| Profit (loss) carried forward14 | €138,345 | €138,345 | €141,993 | €141,993 | €141,993 | = |
| Provisions and deferred taxes16 | - | - | - | €42,699 | €41,457 | ▼ 2.9% |
| Provisions for liabilities and charges160/5 | - | - | - | €42,699 | €41,457 | ▼ 2.9% |
| Other liabilities and charges164/5 | - | - | - | €42,699 | €41,457 | ▼ 2.9% |
| Amounts payable17/49 | €196,166 | €206,670 | €181,479 | €181,609 | €162,611 | ▼ 10.5% |
| Amounts payable after more than one year17 | €169,437 | €158,615 | €147,551 | €147,551 | €124,681 | ▼ 15.5% |
| Financial debts170/4 | €169,437 | €158,615 | €147,551 | €147,551 | €124,681 | ▼ 15.5% |
| Amounts payable within one year42/48 | €26,729 | €48,055 | €33,928 | €34,057 | €37,930 | ▲ 11.4% |
| Current portion of amounts payable after more than one year42 | €10,588 | €10,823 | €11,063 | - | €11,561 | - |
| Trade debts44 | €2,065 | €1,247 | €295 | €2,609 | €995 | ▼ 61.9% |
| Suppliers440/4 | €2,065 | €1,247 | €295 | €2,609 | €995 | ▼ 61.9% |
| Taxes, remuneration and social security45 | €13,510 | €21,359 | €17,254 | €11,608 | €4,394 | ▼ 62.1% |
| Taxes450/3 | €12,646 | €19,177 | €17,254 | €9,323 | €4,394 | ▼ 52.9% |
| Remuneration and social security454/9 | €864 | €2,182 | - | €2,285 | - | - |
| Other amounts payable47/48 | €566 | €14,626 | €5,316 | €19,840 | €20,980 | ▲ 5.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,639 | €60,837 | €69,456 | €17,229 | €29,796 | ▲ 72.9% |
| + Depreciation and write-downs630 | €16,109 | €7,762 | €7,762 | €8,426 | €8,624 | ▲ 2.3% |
| Operating cash flow (approximation) | €48,748 | €68,599 | €77,217 | €25,655 | €38,420 | ▲ 49.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,309 | €0 | ▲ 100% |
| Change in cash | - | €58,913 | €39,062 | €31,794 | €17,062 | ▼ 46.3% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €17,229 ▼75.2%
Net result drops to €17,229, the lowest in the series; recovery starts the following year.
09-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 70 days late
2023
31-12
Financial
Highest result since 2018net €69,456 ▲14.2%
Net result €69,456, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
06-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 37 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 5.50
Current ratio from 1.55 to 5.50; short-term debt falls from €88,952 to €23,209.
31-12
Financial
Equity above €200,000Eq €204,374 ▲31.1%
3 profitable years in a row build equity to €204,374.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-12
Financial
Equity above €150,000Eq €155,888 ▲33.3%
2 profitable years in a row build equity to €155,888.
Show earlier events
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, La Bruyère · 1 establishment unit since 2014
Ground area
771 m²
Building footprint
72 m²
Volume, LiDAR
491 m³
Parcel 92022B0343/00Z002, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EMIVAD
since 20142.228.963.295
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92022B0343/00Z002 | Wallonia | 771 m² | 1 · 72 m² | 7.9 m · 2 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.
Recognitions · licences · registrations
Legal Entity Identifier
967600QLZU6ZMJPA3435
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Of 16,913 companies in this sector we hold annual accounts for 8,787. 6,003 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded03-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0549962878
Also
9925:BE0549962878
Registered
16-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.