EMLACO
ActiveSummary
The annual accounts of EMLACO for fiscal year 2024 show a net loss of 71% of total assets and of 51% of the equity at the start of that year. The 2024 annual accounts show equity of €234,568 and a net result of -€240,533. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 71% of 2282 sector peers (fiscal year 2024). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
59
/ 100
Fair
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-48
Solvency94▼-4
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 3.26 against 3.67 in 2023; short-term debt: 30.7% and cash: 64.1% of total assets), and 30.7% 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
69.3%
Return on assets
-71%
Age of the figures
21 mo
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
21 d early
2022
4 d early
2021
38 d early
2020
8 d early
2019
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€234,568▼ 50.6%
2023 · €475,100
Total assets
€338,612▼ 48.2%
2023 · €653,133
Net result
-€240,533
2023 · €27,748
Working capital
€234,607▼ 50.6%
2023 · €475,139
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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
Line20202021202220232024
Operating result-€57,999€9,759€7,261▼ 25.6%€26,040▲ 259%-€245,918
Net result-€58,172below the sector's middle half€9,425within the sector's middle half€7,032within the sector's middle half▼ 25.4%€27,748within the sector's middle half▲ 295%-€240,533below the sector's middle half
Equity€430,896above the sector's middle half▼ 11.9%€440,321above the sector's middle half▲ 2.2%€447,352within the sector's middle half▲ 1.6%€475,100within the sector's middle half▲ 6.2%€234,568within the sector's middle half▼ 50.6%
Total assets€541,480above the sector's middle half▼ 4.3%€595,388above the sector's middle half▲ 10.0%€623,216within the sector's middle half▲ 4.7%€653,133within the sector's middle half▲ 4.8%€338,612within the sector's middle half▼ 48.2%
Debt€110,584▲ 44.6%€155,067▲ 40.2%€175,864▲ 13.4%€178,033▲ 1.2%€104,044▼ 41.6%
Working capital€432,096▼ 11.6%€440,321▲ 1.9%€447,352▲ 1.6%€475,139▲ 6.2%€234,607▼ 50.6%
Solvency79.6%above the sector's middle half▼ 6.9pp74.0%above the sector's middle half▼ 5.6pp71.8%above the sector's middle half▼ 2.2pp72.7%above the sector's middle half▲ 1.0pp69.3%within the sector's middle half▼ 3.5pp
Staff (FTE)11.9above the sector's middle half=12.9▲ 8.4%10.1above the sector's middle half▼ 21.7%11.2above the sector's middle half▲ 10.9%0within the sector's middle half▼ 100%
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €245,918 after €26,040 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €338,612
Equity
€234,568 ▼ 50.6%
Debt
€104,044 ▼ 41.6%
Debt's share of the balance-sheet total rises from 27.3% to 30.7%. Equity and debt are lower.
Key figures and ratios
Current ratio
3.26▼
2023 · 3.67
Debt to equity
0.44▲
2023 · 0.37
ROE
-102.5%▼
2023 · 5.8%
ROA
-71.0%▼
2023 · 4.2%
Debt ≤ 1 year
€104,005▼
2023 · €177,994
Staff costs
€599,111▼
2023 · €633,371
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 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% | 1.6% |
| 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 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 5,827 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €531,161 | €556,683 | €633,371 | €599,111 | ▼ 5.4% |
| Other operating charges640/8 | - | €579 | €520 | €444 | €658 | ▲ 48.1% |
| Gross operating margin9900 | €417,259 | €541,498 | €564,464 | €659,855 | €353,851 | ▼ 46.4% |
| Operating profit (loss)9901 | -€57,999 | €9,759 | €7,261 | €26,040 | -€245,918 | ▼ 1,044% |
| Financial income75/76B | - | - | - | €2,174 | €5,851 | ▲ 169% |
| Recurring financial income75 | €0 | - | - | €2,174 | €5,851 | ▲ 169% |
| Financial charges65/66B | - | €334 | €229 | €465 | €466 | ▲ 0.1% |
| Recurring financial charges65 | €162 | €334 | €229 | €465 | €466 | ▲ 0.1% |
| Profit (loss) for the period before taxes9903 | -€58,161 | €9,425 | €7,032 | €27,748 | -€240,533 | ▼ 967% |
| Income taxes67/77 | €10 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | -€58,172 | €9,425 | €7,032 | €27,748 | -€240,533 | ▼ 967% |
| Profit (loss) for the period to be appropriated9905 | -€58,172 | €9,425 | €7,032 | €27,748 | -€240,533 | ▼ 967% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €541,480 | €595,388 | €623,216 | €653,133 | €338,612 | ▼ 48.2% |
| Current assets29/58 | €541,480 | €595,388 | €623,216 | €653,133 | €338,612 | ▼ 48.2% |
| Amounts receivable within one year40/41 | €113,275 | €342,901 | €243,023 | €203,478 | €120,296 | ▼ 40.9% |
| Trade receivables40 | - | €340,401 | €240,523 | €200,326 | €118,541 | ▼ 40.8% |
| Other amounts receivable41 | - | €2,500 | €2,500 | €3,152 | €1,755 | ▼ 44.3% |
| Cash at bank and in hand54/58 | €427,232 | €251,607 | €380,193 | €449,655 | €217,129 | ▼ 51.7% |
| Deferred charges and accrued income490/1 | - | €880 | €0 | - | €1,186 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €541,480 | €595,388 | €623,216 | €653,133 | €338,612 | ▼ 48.2% |
| Equity10/15 | €430,896 | €440,321 | €447,352 | €475,100 | €234,568 | ▼ 50.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €368,896 | €378,321 | €385,352 | €413,100 | €172,568 | ▼ 58.2% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €372,121 | €379,152 | €406,900 | €166,368 | ▼ 59.1% |
| Amounts payable17/49 | €110,584 | €155,067 | €175,864 | €178,033 | €104,044 | ▼ 41.6% |
| Amounts payable within one year42/48 | €109,384 | €155,067 | €175,864 | €177,994 | €104,005 | ▼ 41.6% |
| Trade debts44 | €839 | €21,790 | €12,818 | €2,711 | €1,962 | ▼ 27.6% |
| Suppliers440/4 | - | €21,790 | €12,818 | €2,711 | €1,962 | ▼ 27.6% |
| Taxes, remuneration and social security45 | - | €133,277 | €163,046 | €175,283 | €102,043 | ▼ 41.8% |
| Taxes450/3 | - | €58,842 | €64,154 | €64,444 | €23,924 | ▼ 62.9% |
| Remuneration and social security454/9 | - | €74,435 | €98,892 | €110,839 | €78,119 | ▼ 29.5% |
| Accrued charges and deferred income492/3 | - | €0 | - | €39 | €39 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€58,172 | €9,425 | €7,032 | €27,748 | -€240,533 | ▼ 967% |
| Operating cash flow (approximation) | -€58,172 | €9,425 | €7,032 | €27,748 | -€240,533 | ▼ 967% |
| Change in cash | - | -€175,624 | €128,586 | €69,463 | -€232,527 | ▼ 435% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet -€240,533
Net result drops to -€240,533, the lowest in the series.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €27,748 ▲295%
Net result €27,748, the highest in the series.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €9,425
Net result €9,425 after one loss-making year.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
19-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Ardooie · 1 establishment unit since 2004
Ground area
6.1 ha
Building footprint
1.8 ha
Parcel 36001A0426/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
Emlaco
since 20042.143.600.822
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36001A0426/00D000 | Flanders | 6.1 ha | 1 · 1.8 ha | - |
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 24,517 companies in sector 82990 we hold annual accounts for 9,415. 6,787 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-01-2004
Fiscal year end31-12
Activities, NACEBEL 2025
47721Retail sale of footwear
82990Other business support services
69209Other tax advisory services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862649407
Also
9925:BE0862649407
Registered
08-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.