EMKA2
ActiveSummary
EMKA2 has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62,895 and a net result of €124,295. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91=
Solvency34▼-12
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.45 in 2024; short-term debt: 58.7% and cash: 17.6% of total assets), and 90.8% 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
9.2%
Return on assets
18.1%
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 31942 sector peers (2025).
NBB · sector comparisonPosition among 31942 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
on the day
2022
31 d late
2021
2 d early
2020
8 d early
2019
11 d early
← 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 1 day after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 July (4 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
€62,895▼ 54.6%
2024 · €138,586
Total assets
€686,412▲ 3.0%
2024 · €666,507
Net result
€124,295▲ 3.6%
2024 · €119,986
Working capital
-€247,477▼ 74.6%
2024 · -€141,714
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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€155,841▲ 27.1%€268,643▲ 72.4%€129,990▼ 51.6%€165,021▲ 26.9%€169,919▲ 3.0%
Net result€112,582above the sector's middle half▲ 25.1%€196,715above the sector's middle half▲ 74.7%€92,537above the sector's middle half▼ 53.0%€119,986above the sector's middle half▲ 29.7%€124,295above the sector's middle half▲ 3.6%
Equity€20,460below the sector's middle half=€117,175within the sector's middle half▲ 473%€109,711within the sector's middle half▼ 6.4%€138,586within the sector's middle half▲ 26.3%€62,895within the sector's middle half▼ 54.6%
Total assets€539,724above the sector's middle half▼ 8.3%€706,268above the sector's middle half▲ 30.9%€665,627above the sector's middle half▼ 5.8%€666,507above the sector's middle half▲ 0.1%€686,412above the sector's middle half▲ 3.0%
Debt€519,264▼ 8.6%€589,093▲ 13.4%€555,915▼ 5.6%€527,920▼ 5.0%€623,517▲ 18.1%
Working capital-€75,772below the sector's middle half▼ 36.1%-€118,639below the sector's middle half▼ 56.6%-€142,720below the sector's middle half▼ 20.3%-€141,714below the sector's middle half▲ 0.7%-€247,477below the sector's middle half▼ 74.6%
Solvency3.8%below the sector's middle half▲ 0.3pp16.6%below the sector's middle half▲ 12.8pp16.5%below the sector's middle half▼ 0.1pp20.8%below the sector's middle half▲ 4.3pp9.2%below the sector's middle half▼ 11.6pp
Current ratio0.65below the sector's middle half▼ 0.110.47below the sector's middle half▼ 0.190.40below the sector's middle half▼ 0.070.45below the sector's middle half▲ 0.050.39below the sector's middle half▼ 0.06
Return on assets (ROA)20.9%within the sector's middle half▲ 5.6pp27.9%within the sector's middle half▲ 7.0pp13.9%within the sector's middle half▼ 14.0pp18.0%within the sector's middle half▲ 4.1pp18.1%within the sector's middle half▲ 0.1pp
Staff (FTE)1=1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €686,412
Fixed assets
€530,894 ▼ 3.6%
Current assets
€155,518 ▲ 34.0%
Equity and liabilities €686,412
Equity
€62,895 ▼ 54.6%
Debt
€623,517 ▲ 18.1%
Debt's share of the balance-sheet total rises from 79.2% to 90.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€188,367▲
2024 · €185,603
Cash flow
€142,742▲
2024 · €140,569
Debt to equity
9.91▲
2024 · 3.81
ROE
197.6%▲
2024 · 86.6%
Interest coverage
24.58▲
2024 · 20.27
Debt ≤ 1 year
€402,994▲
2024 · €257,765
Debt > 1 year
€220,523▼
2024 · €269,864
Income taxes
€37,962▲
2024 · €35,876
Staff costs
€58,159▲
2024 · €55,847
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,324 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
3.1%
stopped otherwise
95%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 1,324 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 | - | €161,603 | - | - | - | - |
| Remuneration, social security and pensions62 | €47,047 | €49,031 | €54,936 | €55,847 | €58,159 | ▲ 4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,938 | €79,996 | €31,608 | €20,582 | €18,447 | ▼ 10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €17,500 | - |
| Other operating charges640/8 | €5,085 | €4,678 | €2,812 | €3,076 | €4,506 | ▲ 46.5% |
| Non-recurring operating charges66A | - | - | €2,615 | €0 | - | - |
| Gross operating margin9900 | €227,911 | €402,349 | €221,961 | €244,526 | €268,531 | ▲ 9.8% |
| Operating profit (loss)9901 | €155,841 | €268,643 | €129,990 | €165,021 | €169,919 | ▲ 3.0% |
| Financial charges65/66B | €6,213 | €7,753 | €8,087 | €9,158 | €7,663 | ▼ 16.3% |
| Recurring financial charges65 | €6,213 | €7,753 | €8,087 | €9,158 | €7,663 | ▼ 16.3% |
| Profit (loss) for the period before taxes9903 | €149,628 | €260,890 | €121,903 | €155,862 | €162,257 | ▲ 4.1% |
| Income taxes67/77 | €37,046 | €64,176 | €29,366 | €35,876 | €37,962 | ▲ 5.8% |
| Profit (loss) for the period9904 | €112,582 | €196,715 | €92,537 | €119,986 | €124,295 | ▲ 3.6% |
| Profit (loss) for the period to be appropriated9905 | €112,582 | €196,715 | €92,537 | €119,986 | €124,295 | ▲ 3.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €539,724 | €706,268 | €665,627 | €666,507 | €686,412 | ▲ 3.0% |
| Fixed assets21/28 | €398,028 | €602,570 | €571,038 | €550,455 | €530,894 | ▼ 3.6% |
| Tangible fixed assets22/27 | €397,758 | €602,300 | €570,268 | €549,685 | €530,124 | ▼ 3.6% |
| Land and buildings22 | €378,816 | €583,219 | €558,167 | €541,861 | €526,446 | ▼ 2.8% |
| Furniture and vehicles24 | €9,020 | €15,416 | €7,178 | €4,030 | €3,679 | ▼ 8.7% |
| Leasing and similar rights25 | €5,356 | - | - | - | - | - |
| Other tangible fixed assets26 | €4,567 | €3,665 | €4,923 | €3,794 | €0 | ▼ 100% |
| Financial fixed assets28 | €270 | €270 | €770 | €770 | €770 | = |
| Current assets29/58 | €141,696 | €103,697 | €94,589 | €116,051 | €155,518 | ▲ 34.0% |
| Amounts receivable within one year40/41 | €12,868 | €14,119 | €34,681 | €19,716 | €32,641 | ▲ 65.6% |
| Trade receivables40 | €10,774 | €7,200 | €28,219 | €17,100 | €26,929 | ▲ 57.5% |
| Other amounts receivable41 | €2,094 | €6,919 | €6,462 | €2,616 | €5,713 | ▲ 118% |
| Cash at bank and in hand54/58 | €127,389 | €88,053 | €58,331 | €94,647 | €121,067 | ▲ 27.9% |
| Deferred charges and accrued income490/1 | €1,439 | €1,526 | €1,577 | €1,689 | €1,810 | ▲ 7.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €539,724 | €706,268 | €665,627 | €666,507 | €686,412 | ▲ 3.0% |
| Equity10/15 | €20,460 | €117,175 | €109,711 | €138,586 | €62,895 | ▼ 54.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €98,575 | €91,111 | €119,986 | €44,295 | ▼ 63.1% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | €96,715 | €91,111 | €119,986 | €44,295 | ▼ 63.1% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €519,264 | €589,093 | €555,915 | €527,920 | €623,517 | ▲ 18.1% |
| Amounts payable after more than one year17 | €301,796 | €366,757 | €318,606 | €269,864 | €220,523 | ▼ 18.3% |
| Financial debts170/4 | €301,796 | €366,757 | €318,606 | €269,864 | €220,523 | ▼ 18.3% |
| Amounts payable within one year42/48 | €217,468 | €222,336 | €237,309 | €257,765 | €402,994 | ▲ 56.3% |
| Current portion of amounts payable after more than one year42 | €42,809 | €47,566 | €48,151 | €48,742 | €49,341 | ▲ 1.2% |
| Trade debts44 | €2,607 | €6,046 | €2,961 | €1,143 | €7,535 | ▲ 559% |
| Suppliers440/4 | €2,607 | €6,046 | €2,961 | €1,143 | €7,535 | ▲ 559% |
| Taxes, remuneration and social security45 | €55,752 | €29,892 | €34,362 | €40,313 | €63,652 | ▲ 57.9% |
| Taxes450/3 | €47,483 | €21,310 | €24,847 | €26,972 | €54,861 | ▲ 103% |
| Remuneration and social security454/9 | €8,270 | €8,582 | €9,514 | €13,341 | €8,790 | ▼ 34.1% |
| Other amounts payable47/48 | €116,300 | €138,832 | €151,836 | €167,567 | €282,467 | ▲ 68.6% |
| Accrued charges and deferred income492/3 | - | - | - | €290 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €112,582 | €196,715 | €92,537 | €119,986 | €124,295 | ▲ 3.6% |
| + Depreciation and write-downs630 | €19,938 | €79,996 | €31,608 | €20,582 | €18,447 | ▼ 10.4% |
| Operating cash flow (approximation) | €132,520 | €276,711 | €124,145 | €140,569 | €142,742 | ▲ 1.5% |
| Investment in fixed assets (approximation) | - | -€284,539 | -€75 | €0 | €1,114 | - |
| Change in cash | - | -€39,337 | -€29,721 | €36,315 | €26,420 | ▼ 27.2% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €196,715 ▲74.7%
Operating result €268,643, net result €196,715, both a record.
31-12
Financial
Equity above €100,000Eq €117,175 ▲473%
5 profitable years in a row build equity to €117,175.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €84,510 ▼6.5%
Net result drops to €84,510, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Ninove · 1 establishment unit since 2014
Ground area
522 m²
Building footprint
109 m²
Volume, LiDAR
6 m³
Parcel 41057A0254/00N000, Flanders · tallest building 3.1 m. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
BVBA EMKA2
since 20142.229.347.535
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41057A0254/00N000 | Flanders | 522 m² | 1 · 109 m² | 3.1 m |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 39,223 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
Founded31-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0549817774
Also
9925:BE0549817774
Registered
15-09-2025
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.