EMMALIS
ActiveSummary
The computed 12-month bankruptcy probability of EMMALIS is 1.6% (moderate). The 2025 annual accounts show equity of €126,724 and a net result of €8,660. Equity is growing by ~30.1% per year across the filed fiscal years. Its solvency ranks better than 58% of 1577 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-10
Solvency65▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity short (current ratio 0.98 against 1.04 in 2024; short-term debt: 46.9% and cash: 5.4% of total assets), and 59.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more 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
40.4%
Return on assets
2.8%
Age of the figures
9 mo
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 10-07-2026, 21 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
21 d early
2024
8 d late
2023
29 d late
2022
31 d late
2021
24 d late
2020
30 d late
← 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 17 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€126,724▲ 7.3%
2024 · €118,065
Total assets
€313,847▼ 3.4%
2024 · €325,039
Net result
€8,660▼ 75.5%
2024 · €35,307
Working capital
-€2,944
2024 · €5,181
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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€41,204▲ 3.5%€3,363▼ 91.8%€35,942▲ 969%€54,485▲ 51.6%€17,109▼ 68.6%
Net result€26,444within the sector's middle half▲ 10.0%€43within the sector's middle half▼ 99.8%€22,223within the sector's middle half▲ 51,163%€35,307above the sector's middle half▲ 58.9%€8,660within the sector's middle half▼ 75.5%
Equity€60,492within the sector's middle half▲ 77.7%€60,535within the sector's middle half▲ 0.1%€82,758within the sector's middle half▲ 36.7%€118,065within the sector's middle half▲ 42.7%€126,724within the sector's middle half▲ 7.3%
Total assets€219,623within the sector's middle half▲ 15.2%€383,350within the sector's middle half▲ 74.5%€323,832within the sector's middle half▼ 15.5%€325,039within the sector's middle half▲ 0.4%€313,847within the sector's middle half▼ 3.4%
Debt€159,131▲ 1.6%€322,814▲ 103%€241,075▼ 25.3%€206,974▼ 14.1%€187,123▼ 9.6%
Working capital-€8,603within the sector's middle half-€40,427below the sector's middle half▼ 370%-€32,071within the sector's middle half▲ 20.7%€5,181within the sector's middle half-€2,944within the sector's middle half
Solvency27.5%within the sector's middle half▲ 9.7pp15.8%within the sector's middle half▼ 11.8pp25.6%within the sector's middle half▲ 9.8pp36.3%within the sector's middle half▲ 10.8pp40.4%within the sector's middle half▲ 4.1pp
Current ratio0.93within the sector's middle half▼ 0.130.82within the sector's middle half▼ 0.120.80within the sector's middle half▼ 0.021.04within the sector's middle half▲ 0.240.98within the sector's middle half▼ 0.06
Return on assets (ROA)12.0%within the sector's middle half▼ 0.6pp0.0%within the sector's middle half▼ 12.0pp6.9%within the sector's middle half▲ 6.9pp10.9%within the sector's middle half▲ 4.0pp2.8%within the sector's middle half▼ 8.1pp
Staff (FTE)4.8▼ 23.8%4.8=5.9▲ 22.9%6.2▲ 5.1%7.2▲ 16.1%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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 falls in 2025; 2025 is 69% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €313,847
Fixed assets
€169,753 ▼ 8.1%
Current assets
€144,095 ▲ 2.7%
Equity and liabilities €313,847
Equity
€126,724 ▲ 7.3%
Debt
€187,123 ▼ 9.6%
Debt's share of the balance-sheet total falls from 63.7% to 59.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,947▼
2024 · €94,366
Cash flow
€43,498▼
2024 · €75,188
Quick ratio
0.66▼
2024 · 0.80
Debt to equity
1.48▼
2024 · 1.75
ROE
6.8%▼
2024 · 29.9%
Interest coverage
17.98▼
2024 · 20.49
Debt ≤ 1 year
€147,039▲
2024 · €135,133
Debt > 1 year
€40,084▼
2024 · €71,841
Income taxes
€4,717▼
2024 · €14,720
Staff costs
€427,889▲
2024 · €370,327
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
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 1.6% 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 5,049 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €239,290 | €265,862 | €352,775 | €370,327 | €427,889 | ▲ 15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,262 | €37,609 | €42,607 | €39,881 | €34,838 | ▼ 12.6% |
| Other operating charges640/8 | €2,611 | €710 | €1,694 | €645 | €1,739 | ▲ 170% |
| Gross operating margin9900 | €306,367 | €307,544 | €433,018 | €465,337 | €481,575 | ▲ 3.5% |
| Operating profit (loss)9901 | €41,204 | €3,363 | €35,942 | €54,485 | €17,109 | ▼ 68.6% |
| Financial income75/76B | €106 | €57 | €429 | €147 | €837 | ▲ 470% |
| Recurring financial income75 | €106 | €57 | €429 | €147 | €837 | ▲ 470% |
| Financial charges65/66B | €3,849 | €5,138 | €5,645 | €4,604 | €4,570 | ▼ 0.7% |
| Recurring financial charges65 | €3,849 | €5,138 | €5,645 | €4,604 | €2,889 | ▼ 37.3% |
| Non-recurring financial charges66B | - | - | - | - | €1,681 | - |
| Profit (loss) for the period before taxes9903 | €37,461 | -€1,718 | €30,727 | €50,028 | €13,376 | ▼ 73.3% |
| Income taxes67/77 | €11,017 | -€1,761 | €8,504 | €14,720 | €4,717 | ▼ 68.0% |
| Profit (loss) for the period9904 | €26,444 | €43 | €22,223 | €35,307 | €8,660 | ▼ 75.5% |
| Profit (loss) for the period to be appropriated9905 | €26,444 | €43 | €22,223 | €35,307 | €8,660 | ▼ 75.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €219,623 | €383,350 | €323,832 | €325,039 | €313,847 | ▼ 3.4% |
| Fixed assets21/28 | €100,896 | €202,977 | €194,664 | €184,725 | €169,753 | ▼ 8.1% |
| Intangible fixed assets21 | €9,540 | €8,290 | €7,040 | €5,790 | €4,540 | ▼ 21.6% |
| Tangible fixed assets22/27 | €91,357 | €194,688 | €187,625 | €178,935 | €165,213 | ▼ 7.7% |
| Land and buildings22 | €19,702 | - | - | - | - | - |
| Plant, machinery and equipment23 | €66,849 | €139,700 | €139,051 | €112,831 | €105,589 | ▼ 6.4% |
| Furniture and vehicles24 | €1,499 | €1,027 | €555 | €18,866 | €11,462 | ▼ 39.2% |
| Leasing and similar rights25 | €3,306 | €2,050 | €794 | - | - | - |
| Other tangible fixed assets26 | - | €51,911 | €47,225 | €47,238 | €48,161 | ▲ 2.0% |
| Current assets29/58 | €118,727 | €180,372 | €129,168 | €140,314 | €144,095 | ▲ 2.7% |
| Stocks and contracts in progress3 | €5,179 | €24,621 | €21,521 | €32,186 | €47,326 | ▲ 47.0% |
| Stocks30/36 | €5,179 | €24,621 | €21,521 | €32,186 | €47,326 | ▲ 47.0% |
| Amounts receivable within one year40/41 | €100,069 | €150,638 | €97,554 | €90,462 | €78,268 | ▼ 13.5% |
| Trade receivables40 | €46,716 | €90,657 | €68,778 | €54,261 | €32,832 | ▼ 39.5% |
| Other amounts receivable41 | €53,352 | €59,981 | €28,777 | €36,200 | €45,435 | ▲ 25.5% |
| Cash at bank and in hand54/58 | €7,391 | €2,054 | €10,054 | €15,342 | €16,877 | ▲ 10.0% |
| Deferred charges and accrued income490/1 | €6,089 | €3,059 | €38 | €2,325 | €1,624 | ▼ 30.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €219,623 | €383,350 | €323,832 | €325,039 | €313,847 | ▼ 3.4% |
| Equity10/15 | €60,492 | €60,535 | €82,758 | €118,065 | €126,724 | ▲ 7.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €50,492 | €50,535 | €72,758 | €108,065 | €116,724 | ▲ 8.0% |
| Distributable reserves133 | €50,492 | €50,535 | €72,758 | €108,065 | €116,724 | ▲ 8.0% |
| Amounts payable17/49 | €159,131 | €322,814 | €241,075 | €206,974 | €187,123 | ▼ 9.6% |
| Amounts payable after more than one year17 | €31,801 | €102,015 | €79,836 | €71,841 | €40,084 | ▼ 44.2% |
| Financial debts170/4 | €31,801 | €102,015 | €79,836 | €71,841 | €40,084 | ▼ 44.2% |
| Amounts payable within one year42/48 | €127,330 | €220,799 | €161,239 | €135,133 | €147,039 | ▲ 8.8% |
| Current portion of amounts payable after more than one year42 | €26,555 | €38,949 | €23,211 | €23,307 | €27,757 | ▲ 19.1% |
| Financial debts43 | €20,000 | €21,703 | €9,984 | €9,984 | €5,000 | ▼ 49.9% |
| Credit institutions430/8 | €20,000 | €21,703 | €9,984 | €9,984 | €5,000 | ▼ 49.9% |
| Trade debts44 | €65,039 | €123,158 | €75,341 | €53,480 | €58,647 | ▲ 9.7% |
| Suppliers440/4 | €65,039 | €123,158 | €75,341 | €53,480 | €58,647 | ▲ 9.7% |
| Advances received on contracts in progress46 | €708 | €708 | - | - | - | - |
| Taxes, remuneration and social security45 | €15,028 | €36,280 | €52,702 | €48,362 | €55,635 | ▲ 15.0% |
| Taxes450/3 | €1,909 | €2,293 | €9,229 | €4,826 | €5,680 | ▲ 17.7% |
| Remuneration and social security454/9 | €13,120 | €33,987 | €43,473 | €43,535 | €49,954 | ▲ 14.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,444 | €43 | €22,223 | €35,307 | €8,660 | ▼ 75.5% |
| + Depreciation and write-downs630 | €23,262 | €37,609 | €42,607 | €39,881 | €34,838 | ▼ 12.6% |
| Operating cash flow (approximation) | €49,706 | €37,652 | €64,829 | €75,188 | €43,498 | ▼ 42.1% |
| Investment in fixed assets (approximation) | - | -€139,690 | -€34,294 | -€29,941 | -€19,866 | ▲ 33.6% |
| Change in cash | - | -€5,337 | €8,000 | €5,288 | €1,535 | ▼ 71.0% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
31-12
Financial
Highest result since 2020net €35,307 ▲58.9%
Operating result €54,485, net result €35,307, both a record.
31-12
Financial
Equity above €100,000Eq €118,065 ▲42.7%
5 profitable years in a row build equity to €118,065.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €43 ▼99.8%
Net result drops to €43, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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 2019
Ground area
3,737 m²
Building footprint
444 m²
Volume, LiDAR
2,061 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Bakkerij Vijverman
since 20192.294.697.722
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41038A0088/00H008 | Flanders | 3,268 m² | 1 · 266 m² | 4.5 m · 1 fl. |
| 41362B1240/00S005indicative | Flanders | 469 m² | 1 · 178 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteNinove2.294.697.722
Similar companies · same sector, comparable size
GELLENS & Co
BE 0434.817.940
Scherpenheuvel-Zichem · Eq €127,197
BAKKERIJ VALAERT
BE 0413.555.144
Sint-Niklaas · Eq €126,072
BOULANGERIE - PATISSERIE ARTISANALE GHEURY et Fils
BE 0443.783.413
Modave · Eq €125,977
VAN EYNDE - COLDERS
BE 0806.280.232
Puurs-Sint-Amands · Eq €127,577
L'Atelier Ponsar
BE 0501.675.585
Chiny · Eq €127,633
Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 1,590 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
Founded19-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Contact
E-mail
bakkerijvijverman@hotmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0732646839
Also
9925:BE0732646839
Registered
24-11-2023
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.