EMMAR
ActiveSummary
EMMAR has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115,789 and a net result of €9,295. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 82% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▼-38
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 6.94 against 13.97 in 2024; short-term debt: 11.7% and cash: 1.7% of total assets), and 23.3% of the assets are financed with debt.
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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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
76.7%
Return on assets
6.2%
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
3 d early
2023
30 d late
2022
32 d late
2021
48 d early
2020
16 d early
2019
49 d late
← 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 11 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€115,789▼ 26.0%
2024 · €156,494
Total assets
€150,996▼ 21.3%
2024 · €191,865
Net result
€9,295▼ 63.2%
2024 · €25,233
Working capital
€104,784▼ 29.6%
2024 · €148,887
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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€43,179▲ 4.6%€36,901▼ 14.5%€13,850▼ 62.5%€29,033▲ 110%€10,588▼ 63.5%
Net result€38,061above the sector's middle half▼ 7.5%€31,344above the sector's middle half▼ 17.6%€12,546within the sector's middle half▼ 60.0%€25,233within the sector's middle half▲ 101%€9,295within the sector's middle half▼ 63.2%
Equity€90,271within the sector's middle half▼ 28.5%€118,714within the sector's middle half▲ 31.5%€131,261above the sector's middle half▲ 10.6%€156,494above the sector's middle half▲ 19.2%€115,789within the sector's middle half▼ 26.0%
Total assets€168,793within the sector's middle half▼ 23.4%€184,098within the sector's middle half▲ 9.1%€185,064within the sector's middle half▲ 0.5%€191,865within the sector's middle half▲ 3.7%€150,996within the sector's middle half▼ 21.3%
Debt€78,522▼ 16.5%€65,384▼ 16.7%€53,803▼ 17.7%€35,371▼ 34.3%€35,207▼ 0.5%
Working capital€83,404▼ 33.1%€110,566▲ 32.6%€122,828▲ 11.1%€148,887▲ 21.2%€104,784▼ 29.6%
Solvency53.5%within the sector's middle half▼ 3.8pp64.5%within the sector's middle half▲ 11.0pp70.9%above the sector's middle half▲ 6.4pp81.6%above the sector's middle half▲ 10.6pp76.7%above the sector's middle half▼ 4.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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
The operating result falls in 2025; 2025 is 64% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €150,996
Fixed assets
€28,575 ▼ 9.3%
Current assets
€122,421 ▼ 23.7%
Equity and liabilities €150,996
Equity
€115,789 ▼ 26.0%
Debt
€35,207 ▼ 0.5%
Debt's share of the balance-sheet total rises from 18.4% to 23.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14,656▼
2024 · €33,489
Cash flow
€13,363▼
2024 · €29,689
Current ratio
6.94▼
2024 · 13.97
Debt to equity
0.30▲
2024 · 0.23
ROE
8.0%▼
2024 · 16.1%
ROA
6.2%▼
2024 · 13.2%
Interest coverage
2.52▼
2024 · 6.79
Debt ≤ 1 year
€17,637▲
2024 · €11,478
Debt > 1 year
€16,322▼
2024 · €23,093
Income taxes
€2,954▼
2024 · €7,005
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 34,672 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 | - | €16,874 | €0 | €3,490 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,065 | €6,825 | €6,547 | €4,456 | €4,068 | ▼ 8.7% |
| Other operating charges640/8 | €2,356 | €2,706 | €713 | €1,465 | €1,390 | ▼ 5.1% |
| Gross operating margin9900 | €52,600 | €46,432 | €21,110 | €34,954 | €16,046 | ▼ 54.1% |
| Operating profit (loss)9901 | €43,179 | €36,901 | €13,850 | €29,033 | €10,588 | ▼ 63.5% |
| Financial income75/76B | €8,431 | €7,030 | €6,315 | €8,136 | €7,487 | ▼ 8.0% |
| Recurring financial income75 | €8,431 | €7,030 | €6,315 | €8,136 | €7,487 | ▼ 8.0% |
| Financial charges65/66B | €2,139 | €3,267 | €3,815 | €4,931 | €5,826 | ▲ 18.1% |
| Recurring financial charges65 | €2,139 | €3,267 | €3,815 | €4,931 | €5,826 | ▲ 18.1% |
| Profit (loss) for the period before taxes9903 | €49,471 | €40,664 | €16,350 | €32,238 | €12,249 | ▼ 62.0% |
| Income taxes67/77 | €11,411 | €9,320 | €3,803 | €7,005 | €2,954 | ▼ 57.8% |
| Profit (loss) for the period9904 | €38,061 | €31,344 | €12,546 | €25,233 | €9,295 | ▼ 63.2% |
| Profit (loss) for the period to be appropriated9905 | €38,061 | €31,344 | €12,546 | €25,233 | €9,295 | ▼ 63.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €168,793 | €184,098 | €185,064 | €191,865 | €150,996 | ▼ 21.3% |
| Fixed assets21/28 | €51,536 | €44,712 | €38,165 | €31,499 | €28,575 | ▼ 9.3% |
| Intangible fixed assets21 | €2,250 | €1,250 | €250 | €0 | - | - |
| Tangible fixed assets22/27 | €48,361 | €42,537 | €36,990 | €30,574 | €27,650 | ▼ 9.6% |
| Land and buildings22 | €42,670 | €38,492 | €34,464 | €30,572 | €26,807 | ▼ 12.3% |
| Plant, machinery and equipment23 | €1,082 | €635 | €317 | €2 | €844 | ▲ 35,505% |
| Furniture and vehicles24 | €4,610 | €3,410 | €2,210 | €0 | - | - |
| Financial fixed assets28 | €925 | €925 | €925 | €925 | €925 | = |
| Current assets29/58 | €117,257 | €139,386 | €146,899 | €160,366 | €122,421 | ▼ 23.7% |
| Amounts receivable within one year40/41 | €109,424 | €126,394 | €139,649 | €147,782 | €118,300 | ▼ 19.9% |
| Trade receivables40 | €16,940 | €12,900 | €12,805 | €6,664 | €2,829 | ▼ 57.5% |
| Other amounts receivable41 | €92,484 | €113,494 | €126,844 | €141,118 | €115,470 | ▼ 18.2% |
| Cash at bank and in hand54/58 | €7,210 | €12,140 | €6,489 | €11,808 | €2,499 | ▼ 78.8% |
| Deferred charges and accrued income490/1 | €623 | €852 | €761 | €776 | €1,622 | ▲ 109% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €168,793 | €184,098 | €185,064 | €191,865 | €150,996 | ▼ 21.3% |
| Equity10/15 | €90,271 | €118,714 | €131,261 | €156,494 | €115,789 | ▼ 26.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €71,671 | €100,114 | €112,661 | €137,894 | €97,189 | ▼ 29.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | €31,750 | €13,000 | €13,000 | €13,000 | €13,000 | = |
| Distributable reserves133 | €38,061 | €85,254 | €99,661 | €124,894 | €84,189 | ▼ 32.6% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €78,522 | €65,384 | €53,803 | €35,371 | €35,207 | ▼ 0.5% |
| Amounts payable after more than one year17 | €44,350 | €36,243 | €29,732 | €23,093 | €16,322 | ▼ 29.3% |
| Financial debts170/4 | €44,350 | €36,243 | €29,732 | €23,093 | €16,322 | ▼ 29.3% |
| Amounts payable within one year42/48 | €33,853 | €28,820 | €24,071 | €11,478 | €17,637 | ▲ 53.7% |
| Current portion of amounts payable after more than one year42 | €8,271 | €8,107 | €6,511 | €6,640 | €6,771 | ▲ 2.0% |
| Financial debts43 | - | - | - | - | €6,047 | - |
| Credit institutions430/8 | - | - | - | - | €6,047 | - |
| Trade debts44 | €6,237 | €3,984 | €9,607 | €4,568 | €4,585 | ▲ 0.4% |
| Suppliers440/4 | €6,237 | €3,984 | €9,607 | €4,568 | €4,585 | ▲ 0.4% |
| Taxes, remuneration and social security45 | €19,344 | €16,730 | €7,953 | €270 | €234 | ▼ 13.3% |
| Taxes450/3 | €19,344 | €16,548 | €7,953 | €270 | €234 | ▼ 13.3% |
| Remuneration and social security454/9 | - | €182 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €320 | €320 | €0 | €800 | €1,248 | ▲ 56.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,061 | €31,344 | €12,546 | €25,233 | €9,295 | ▼ 63.2% |
| + Depreciation and write-downs630 | €7,065 | €6,825 | €6,547 | €4,456 | €4,068 | ▼ 8.7% |
| Operating cash flow (approximation) | €45,126 | €38,169 | €19,093 | €29,689 | €13,363 | ▼ 55.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €2,210 | -€1,144 | ▼ 152% |
| Change in cash | - | €4,930 | -€5,651 | €5,319 | -€9,309 | ▼ 275% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €9,295 ▼63.2%
Net result drops to €9,295, the lowest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 13.97
Current ratio from 6.10 to 13.97; short-term debt falls from €24,071 to €11,478.
31-12
Financial
Equity above €150,000Eq €156,494 ▲19.2%
7 profitable years in a row build equity to €156,494.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Equity above €100,000Eq €118,714 ▲31.5%
5 profitable years in a row build equity to €118,714.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €41,139 ▲25.7%
Net result €41,139, the highest in the series.
31-12
Financial
Equity above €100,000Eq €126,203 ▲48.4%
3 profitable years in a row build equity to €126,203.
Show earlier events
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
05-07
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 4 acts read
About the unread acts
We know of 4 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
4 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, Avelgem · 1 establishment unit since 2014
Ground area
1,052 m²
Building footprint
190 m²
Volume, LiDAR
624 m³
Parcel 34031A0552/00B000, Flanders · tallest building 5.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Emmar
since 20142.231.166.680
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34031A0552/00B000 | Flanders | 1,052 m² | 1 · 190 m² | 5.3 m · 1 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.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,722 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
Founded10-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0550685925
Also
9925:BE0550685925
Registered
19-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.