EMMA E&S
ActiveSummary
The computed 12-month bankruptcy probability of EMMA E&S is 2.2% (moderate). The 2025 annual accounts show negative equity (-€16,556) and a net result of -€66,556. The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-12-2024 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.370.116.608 4032 Liège, since 11-12-2024
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.2%
- Gross margin
- -€19,556
- Loss
- €66,556
- Equity
- -€16,556
- Total assets
- €750,788
- Negative equity on 31-12-2025
- 2025 accounts filed 67 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.00, cash €172Last filed accounts filed 67 days late; 1 of the last 3 accounts latelowers riskSize: total assets €750,788No main activity registeredShow the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 14% of them on solvency, 32% on liquidity and 11% on profitability.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 67 days after the deadline Filed on 6 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00550421.
Annual accounts 2025 filed on 06-10-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €768,535 |
| Depreciation and write-downs of the year | €17,919 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,919 |
| Other operating charges640/8 | €270 |
| Non-recurring operating charges66A | €9,337 |
| Gross operating margin9900 | -€19,556 |
| Operating profit (loss)9901 | -€47,082 |
| Financial charges65/66B | €19,474 |
| Recurring financial charges65 | €19,474 |
| Profit (loss) for the period before taxes9903 | -€66,556 |
| Profit (loss) for the period9904 | -€66,556 |
| Profit (loss) for the period to be appropriated9905 | -€66,556 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €750,788 | |
| Fixed assets21/28 | €750,616 | |
| Tangible fixed assets22/27 | €750,616 | |
| Land and buildings22 | €750,616 | |
| Current assets29/58 | €172 | |
| Cash at bank and in hand54/58 | €172 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €750,788 | |
| Equity10/15 | -€16,556 | |
| Contributions10/11 | €50,000 | |
| Profit (loss) carried forward14 | -€66,556 | |
| Amounts payable17/49 | €767,345 | |
| Amounts payable after more than one year17 | €685,961 | |
| Financial debts170/4 | €685,961 | |
| Amounts payable within one year42/48 | €81,384 | |
| Current portion of amounts payable after more than one year42 | €26,386 | |
| Other amounts payable47/48 | €54,998 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€66,556 |
| + Depreciation and write-downs630 | €17,919 |
| Operating cash flow (approximation) | -€48,637 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 152 companies had the same profile as EMMA E&S has now. Two years later, 99.3% were still going and 0.0% had gone bankrupt.
- Small
- under 2 years old
- negative equity
- a small loss
The bankruptcy probability of EMMA E&S itself is higher: 2.2% within 12 months. It rests on far more data about EMMA E&S than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 152 companies, not a prediction for EMMA E&S. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-10-2026 | 2026-00550421 |
Board & ownership
Directors
Owners and capital
Shareholders
- NIYUBAHWE-NACI Victoire 2,500 shares (50%) · €25,000
- MUVUNA Jules 2,500 shares (50%) · €25,000
Capital transactions
- 13-12-2024 Incorporation · €50,000 · 5,000 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| MUVUNA Jules |
|
| NIYUBAHWE-NACI Victoire |
|
Network & group
EMMA E&S shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of EMMA E&S. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
13-12
Gazette deed
IncorporationStarting capital €50,000 · Appointments: NIYUBAHWE-NACI Victoire (director) and MUVUNA Jules (director) · Founder12 points ▸
- Founder, NIYUBAHWE-NACI Victoire
- Founder, MUVUNA Jules
- Incorporation, 06-12-2024
- Founding capital, €50,000
- Bank account, 50000, “compte spécial ouvert au nom de la société en formation” (deed in French)
- Capital
- Other provision, 31-12-2025, “premier exercice social et première assemblée générale ordinaire” (deed in French)
- Other provision, “adresse du siège, 4032 Liège (Chênée),Rue Large 93” (deed in French)
- Board rule, 2
- Director appointment, NIYUBAHWE-NACI Victoire (director (not named in the articles))
- Director appointment, MUVUNA Jules (director (not named in the articles))
- Pre-incorporation commitments, “takeover, tous engagements et obligations en résultant,et toutes activités entreprises par l’un ou l’autre des comparants au nom et pour compte de la société en…” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62023A0536/00E014 | Wallonia | 458 m² | 1 · 181 m² | 7.0 m · 2 |