EMLODA
ActiveSummary
EMLODA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.05M and a net result of €265k. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 63% of 9715 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability52▼-17
Solvency72▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €410k at 30 days acceptable
Liquidity short (current ratio 0.57 against 0.23 in 2023; short-term debt: 20.9% and cash: 0.2% of total assets), and 53.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
46.8%
Return on assets
2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
22 d early
2022
33 d early
2021
41 d early
2020
71 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€6.05M▲ 4.2%
2023 · €5.81M
2018: €3.68Mlowest in 7 years
2019: €3.79M▲ +3.1% vs 2018
2020: €3.98M▲ +4.8% vs 2019
2021: €4.84M▲ +21.8% vs 2020
2022: €5.56M▲ +14.9% vs 2021
2023: €5.81M▲ +4.4% vs 2022
2024: €6.05M▲ +4.2% vs 2023highest in 7 years
2018 → 2024
Total assets
€12.95M▲ 14.0%
2023 · €11.36M
2018: €11.73M
2019: €11.87M▲ +1.2% vs 2018
2020: €11.92M▲ +0.4% vs 2019
2021: €11.91M▼ -0.1% vs 2020
2022: €11.87M▼ -0.3% vs 2021
2023: €11.36M▼ -4.3% vs 2022lowest in 7 years
2024: €12.95M▲ +14.0% vs 2023highest in 7 years
2018 → 2024
Net result
€265k▼ 31.5%
2023 · €387k
2018: €345k
2019: €152k▼ -56.0% vs 2018lowest in 7 years
2020: €211k▲ +38.8% vs 2019
2021: €895k▲ +325% vs 2020highest in 7 years
2022: €742k▼ -17.1% vs 2021
2023: €387k▼ -47.8% vs 2022
2024: €265k▼ -31.5% vs 2023
2018 → 2024
Working capital
€-1.17M▲ 10.2%
2023 · €-1.30M
2018: €-1.09Mhighest in 7 years
2019: €-1.26M▼ -15.8% vs 2018
2020: €-1.49M▼ -18.8% vs 2019lowest in 7 years
2021: €-1.38M▲ +7.9% vs 2020
2022: €-1.40M▼ -1.7% vs 2021
2023: €-1.30M▲ +7.2% vs 2022
2024: €-1.17M▲ +10.2% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€3.98M-€4.84M▲ 21.8%€5.56M▲ 14.9%€5.81M▲ 4.4%€6.05M▲ 4.2%
2020: €3.98Mlowest in 5 years
2021: €4.84M▲ +21.8% vs 2020
2022: €5.56M▲ +14.9% vs 2021
2023: €5.81M▲ +4.4% vs 2022
2024: €6.05M▲ +4.2% vs 2023highest in 5 years
Operating result€485k-€500k▲ 3.0%€563k▲ 12.8%€575k▲ 2.1%€287k▼ 50.0%
2020: €485k
2021: €500k▲ +3.0% vs 2020
2022: €563k▲ +12.8% vs 2021
2023: €575k▲ +2.1% vs 2022highest in 5 years
2024: €287k▼ -50.0% vs 2023lowest in 5 years
Net result€211k-€895k▲ 325%€742k▼ 17.1%€387k▼ 47.8%€265k▼ 31.5%
2020: €211klowest in 5 years
2021: €895k▲ +325% vs 2020highest in 5 years
2022: €742k▼ -17.1% vs 2021
2023: €387k▼ -47.8% vs 2022
2024: €265k▼ -31.5% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 50% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €12.95M
Fixed assets
€11.40M ▲ 3.9%
Current assets
€1.54M ▲ 301%
Equity and liabilities €12.95M
Equity
€6.05M ▲ 4.2%
Debt
€6.89M ▲ 24.2%
Debt's share of the balance-sheet total rises from 48.8% to 53.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€776k▼
2023 · €1.03M
Cash flow
€754k▼
2023 · €844k
Current ratio
0.57▲
2023 · 0.23
Quick ratio
0.07▼
2023 · 0.23
Debt to equity
1.14▲
2023 · 0.96
ROE
4.4%▼
2023 · 6.7%
ROA
2.0%▼
2023 · 3.4%
Interest coverage
3.71▼
2023 · 5.49
Debt ≤ 1 year
€2.71M▲
2023 · €1.68M
Debt > 1 year
€4.14M▲
2023 · €3.82M
Income taxes
€30k▼
2023 · €101k
Staff costs
€186k▼
2023 · €188k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 61 lines
Balance sheet
Code20232024
Assets
Total assets20/58€11.36M€12.95M▲
Fixed assets21/28€10.97M€11.40M▲
Tangible fixed assets22/27€7.06M€7.05M▼
Land and buildings22€1.87M€1.82M▼
Plant, machinery and equipment23€182k€383k▲
Furniture and vehicles24€48k€148k▲
Leasing and similar rights25€4.96M€4.66M▼
Assets under construction and advance payments27-€45k
Financial fixed assets28€3.91M€4.35M▲
Current assets29/58€384k€1.54M▲
Stocks and contracts in progress3-€1.35M
Stocks30/36-€1.35M
Amounts receivable within one year40/41€179k€165k▼
Trade receivables40€133k€59k▼
Other amounts receivable41€46k€106k▲
Cash at bank and in hand54/58€200k€20k▼
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€11.36M€12.95M▲
Equity10/15€5.81M€6.05M▲
Contributions10/11€95k€95k=
Reserves13€5.33M€5.60M▲
Tax-exempt reserves132€10k€10k=
Distributable reserves133€5.32M€5.59M▲
Profit (loss) carried forward14€0€0=
Investment grants15€382k€360k▼
Amounts payable17/49€5.55M€6.89M▲
Amounts payable after more than one year17€3.82M€4.14M▲
Financial debts170/4€3.82M€4.14M▲
Amounts payable within one year42/48€1.68M€2.71M▲
Current portion of amounts payable after more than one year42€661k€726k▲
Financial debts43-€500k
Credit institutions430/8-€500k
Trade debts44€230k€251k▲
Suppliers440/4€230k€251k▲
Taxes, remuneration and social security45€47k€38k▼
Taxes450/3€26k€12k▼
Remuneration and social security454/9€22k€27k▲
Other amounts payable47/48€745k€1.19M▲
Accrued charges and deferred income492/3€45k€41k▼
Income statement
Code20232024
Non-recurring operating income76A€9k€0▼
Remuneration, social security and pensions62€188k€186k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€458k€489k▲
Other operating charges640/8€70k€82k▲
Non-recurring operating charges66A€2k€0▼
Gross operating margin9900€1.29M€1.04M▼
Operating profit (loss)9901€575k€287k▼
Financial income75/76B€101k€276k▲
Recurring financial income75€101k€276k▲
Financial charges65/66B€188k€269k▲
Recurring financial charges65€188k€209k▲
Non-recurring financial charges66B-€60k
Profit (loss) for the period before taxes9903€488k€295k▼
Income taxes67/77€101k€30k▼
Profit (loss) for the period9904€387k€265k▼
Profit (loss) for the period to be appropriated9905€387k€265k▼
Appropriation of the result
Profit (loss) to be appropriated9906€387k€265k▼
Transfer to equity691/2€267k€265k▼
To other reserves6921€267k€265k▼
Profit to be distributed694/7€120k€0▼
Return on contributions (dividend)694€120k€0▼
Social balance
Average headcount (FTE)90873.43.7▲
The notes to these accounts (26 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €9k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €258k | €252k | €188k | €186k | ▼ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €473k | €489k | €499k | €458k | €489k | ▲ 6.8% |
| Other operating charges640/8 | - | €63k | €66k | €70k | €82k | ▲ 17.6% |
| Non-recurring operating charges66A | - | - | - | €2k | €0 | ▼ 100% |
| Gross operating margin9900 | €1.25M | €1.31M | €1.38M | €1.29M | €1.04M | ▼ 19.2% |
| Operating profit (loss)9901 | €485k | €500k | €563k | €575k | €287k | ▼ 50.0% |
| Financial income75/76B | - | €692k | €472k | €101k | €276k | ▲ 175% |
| Recurring financial income75 | €33k | €692k | €472k | €101k | €276k | ▲ 175% |
| Financial charges65/66B | - | €224k | €197k | €188k | €269k | ▲ 43.2% |
| Recurring financial charges65 | €237k | €224k | €197k | €188k | €209k | ▲ 11.3% |
| Non-recurring financial charges66B | - | - | - | - | €60k | - |
| Profit (loss) for the period before taxes9903 | €281k | €969k | €838k | €488k | €295k | ▼ 39.6% |
| Income taxes67/77 | €71k | €74k | €96k | €101k | €30k | ▼ 70.7% |
| Profit (loss) for the period9904 | €211k | €895k | €742k | €387k | €265k | ▼ 31.5% |
| Profit (loss) for the period to be appropriated9905 | €211k | €895k | €742k | €387k | €265k | ▼ 31.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.92M | €11.91M | €11.87M | €11.36M | €12.95M | ▲ 14.0% |
| Fixed assets21/28 | €11.58M | €11.82M | €11.38M | €10.97M | €11.40M | ▲ 3.9% |
| Tangible fixed assets22/27 | €8.14M | €7.92M | €7.46M | €7.06M | €7.05M | ▼ 0.1% |
| Land and buildings22 | - | €2.07M | €1.97M | €1.87M | €1.82M | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €108k | €84k | €182k | €383k | ▲ 110% |
| Furniture and vehicles24 | - | €185k | €149k | €48k | €148k | ▲ 208% |
| Leasing and similar rights25 | - | €5.56M | €5.26M | €4.96M | €4.66M | ▼ 6.0% |
| Assets under construction and advance payments27 | - | - | - | - | €45k | - |
| Financial fixed assets28 | €3.44M | €3.90M | €3.91M | €3.91M | €4.35M | ▲ 11.2% |
| Current assets29/58 | €338k | €90k | €493k | €384k | €1.54M | ▲ 301% |
| Stocks and contracts in progress3 | - | - | - | - | €1.35M | - |
| Stocks30/36 | - | - | - | - | €1.35M | - |
| Amounts receivable within one year40/41 | €221k | €64k | €288k | €179k | €165k | ▼ 8.0% |
| Trade receivables40 | - | €42k | €17k | €133k | €59k | ▼ 55.7% |
| Other amounts receivable41 | - | €22k | €271k | €46k | €106k | ▲ 130% |
| Current investments50/53 | €50k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €62k | €24k | €200k | €200k | €20k | ▼ 89.8% |
| Deferred charges and accrued income490/1 | - | €2k | €5k | €6k | €7k | ▲ 20.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.92M | €11.91M | €11.87M | €11.36M | €12.95M | ▲ 14.0% |
| Equity10/15 | €3.98M | €4.84M | €5.56M | €5.81M | €6.05M | ▲ 4.2% |
| Contributions10/11 | - | €95k | €95k | €95k | €95k | = |
| Reserves13 | €3.43M | €4.32M | €5.07M | €5.33M | €5.60M | ▲ 5.0% |
| Tax-exempt reserves132 | - | €10k | €10k | €10k | €10k | = |
| Distributable reserves133 | - | €4.31M | €5.06M | €5.32M | €5.59M | ▲ 5.0% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Investment grants15 | - | €425k | €403k | €382k | €360k | ▼ 5.6% |
| Amounts payable17/49 | €7.94M | €7.06M | €6.30M | €5.55M | €6.89M | ▲ 24.2% |
| Amounts payable after more than one year17 | €6.07M | €5.56M | €4.38M | €3.82M | €4.14M | ▲ 8.5% |
| Financial debts170/4 | - | €5.56M | €4.38M | €3.82M | €4.14M | ▲ 8.5% |
| Amounts payable within one year42/48 | €1.83M | €1.47M | €1.89M | €1.68M | €2.71M | ▲ 60.8% |
| Current portion of amounts payable after more than one year42 | - | €677k | €678k | €661k | €726k | ▲ 9.8% |
| Financial debts43 | - | - | - | - | €500k | - |
| Credit institutions430/8 | - | - | - | - | €500k | - |
| Trade debts44 | €125k | €134k | €210k | €230k | €251k | ▲ 8.9% |
| Suppliers440/4 | - | €134k | €210k | €230k | €251k | ▲ 8.9% |
| Taxes, remuneration and social security45 | - | €150k | €37k | €47k | €38k | ▼ 18.9% |
| Taxes450/3 | - | €111k | €2k | €26k | €12k | ▼ 54.3% |
| Remuneration and social security454/9 | - | €39k | €34k | €22k | €27k | ▲ 23.1% |
| Other amounts payable47/48 | - | €505k | €968k | €745k | €1.19M | ▲ 60.1% |
| Accrued charges and deferred income492/3 | - | €35k | €29k | €45k | €41k | ▼ 8.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €211k | €895k | €742k | €387k | €265k | ▼ 31.5% |
| + Depreciation and write-downs630 | €473k | €489k | €499k | €458k | €489k | ▲ 6.8% |
| Operating cash flow (approximation) | €684k | €1.38M | €1.24M | €844k | €754k | ▼ 10.7% |
| Investment in fixed assets (approximation) | - | €-727k | €-57k | €-55k | €-919k | ▼ 1,572% |
| Change in cash | - | €-38k | €175k | €-74 | €-179k | ▼ 242,563% |
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
2026
19-08
State Gazette act
Capital & shares · RestructuringDemerger · Accounting effect · Share transfer17 facts ▸
State Gazette act
Capital & shares · Restructuring
Demerger · Accounting effect · Share transfer17 facts ▸
- General meeting, 19-06-2026
- Demerger, partielle splitsing, 01-01-2026
- Accounting effect, 01-01-2026
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- Share transfer, EMLODA → EMLODA ASSETS
- +5 further facts in this act
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €5MEq €5.56M ▲14.9%
5 profitable years in a row build equity to €5.56M.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €895k ▲325%
Net result €895k, the highest in the series.
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €152k ▼56%
Net result drops to €152k, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1992
Ground area
1.2 ha
Building footprint
4,131 m²
Volume, LiDAR
38,119 m³
Parcel 31512B0106/00T002, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Emloda
since 19922.055.829.876
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31512B0106/00T002 | Flanders | 1.2 ha | 1 · 4,131 m² | 12.8 m · 3 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.
Structure & network
Acquisitions and mergers
1 transactionSplit off to:EMLODA ASSETS
Capital and shareholders
Capital over the years
- 19-08-2026 Capital stated in the act · 70,293.53 EUR
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 54,103 EUR awarded · 48,748 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 0 EUR | 38,314 EUR |
| 2024 | 2 | 43,444 EUR | 9,834 EUR |
| 2023 | 2 | 9,834 EUR | 600 EUR |
| 2022 | 1 | 825 EUR | 0 EUR |
Schemes
Ecologiepremie+
Call groene stroom (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 2,429 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 (pre-2019)
Founded28-10-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
64210Activities of holding companies
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.
Business parks
1 parkOffers a parcel on business park:Ten Briele