Equity
EMR CONSTRUCT paid out €150,000 in dividends. That is 63% of the 2025 profit.
EMR CONSTRUCT paid out €150,000 in dividends. That is 63% of the 2025 profit.
Back in profit in 2025, after a loss of €22,531 in 2024.
The accounts state no turnover.
Mortgage mandates, new in 2025. 66.1% of equity · not in the 2024 accounts.
In 2025, 5 people joined and 3 left.
The 2024 accounts came latest: 67 days after the end of the period.
The dashed line is the sector median: 0.2% across 301 companies (NACE 42, small).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 (NACE 42, small). It does better than 42% of them on solvency, 79% on liquidity, 90% on profitability and 83% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
In July 2024, 3,127 companies had the same profile as EMR CONSTRUCT has now. Each dot stands for 8 companies, two years later.
That fits the bankruptcy probability of EMR CONSTRUCT itself: 0.8% within 12 months.
The method was tested on the 497,447 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 3,127 companies, not a prediction for EMR CONSTRUCT. 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.
Liquidity is tight, with a current ratio of 1.27 (1.21 in 2024), below the usual 1.5. Short-term debt is 39.5% and cash 24.4% of total assets. 66.2% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 26 days after the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| EMR CONSTRUCT Brussels | €1.1m | €1.1m | 33.8% | 12.7 |
| NEKUTA Molenbeek-Saint-Jean | €1.3m | €1.3m | 45.2% | 11.3 |
| MTH DEMIR Saint-Josse-ten-Noode | €1.4m | €1.9m | 59.6% | 17.7 |
| ZEA TECH Lokeren | €0.8m | €0.9m | 31.5% | 8.7 |
| Opérateurs & Prestations Cop Villers-le-Bouillet | €1.8m | €1.2m | 16.6% | 19.3 |
| GWL Nutsinfra Pelt | €2.0m | €1.7m | 37.5% | 10.9 |
| ELT Contractors Brussels | €2.6m | €0.8m | 31.9% | 13.8 |
These companies have the same main activity as EMR CONSTRUCT: construction of roads and motorways (NACE 42110). They are comparable in size and age: total assets between €842,000 and €2.6m, founded between 2019 and 2022.
EMR CONSTRUCT files the abbreviated format. That format states no turnover. The gross margin rose from €322,153 in 2022 to €1.1m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.9m. Estimated: probably between €1.3m and €3.1m.
Higher than 44% of 529 companies in 2025.
Higher than 39% of 520 companies in 2025.
Higher than 86% of 519 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 5 people joined and 3 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
1.1m | 1.0m | 1.0m | 265,460 | |
21/28 |
569,150 | 580,683 | 579,798 | 115,943 | |
22/27 |
550,125 | 561,658 | 560,798 | 115,943 | |
22 |
364,574 | 372,575 | 380,577 | - | |
23 |
61,276 | 75,278 | 98,824 | 105,354 | |
24 |
123,469 | 112,699 | 79,991 | 10,589 | |
26 |
806 | 1,106 | 1,406 | - | |
28 |
19,025 | 19,025 | 19,000 | - | |
29/58 |
572,200 | 438,658 | 425,188 | 149,517 | |
40/41 |
283,519 | 263,001 | 347,791 | 94,087 | |
40 |
76,052 | 157,792 | 302,022 | 79,689 | |
41 |
207,467 | 105,209 | 45,770 | 14,398 | |
54/58 |
278,961 | 170,669 | 65,916 | 53,144 | |
490/1 |
9,720 | 4,988 | 11,481 | 2,286 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
1.1m | 1.0m | 1.0m | 265,460 | |
10/15 |
385,662 | 297,766 | 320,297 | 171,409 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | |
13 |
50,000 | 100,000 | 100,000 | 50,000 | |
133 |
50,000 | 100,000 | 100,000 | 50,000 | |
14 |
330,662 | 192,766 | 215,297 | 116,409 | |
17/49 |
755,688 | 721,575 | 684,689 | 94,051 | |
17 |
305,409 | 359,033 | 347,050 | - | |
170/4 |
305,409 | 359,033 | 347,050 | - | |
42/48 |
450,280 | 362,542 | 337,640 | 94,051 | |
42 |
79,742 | 116,343 | 37,816 | - | |
44 |
90,487 | 172,291 | 223,182 | 13,885 | |
440/4 |
90,487 | 172,291 | 223,182 | 13,885 | |
46 |
24,144 | - | - | - | |
45 |
124,157 | 73,908 | 76,641 | 51,544 | |
450/3 |
101,785 | 56,212 | 60,761 | 47,455 | |
454/9 |
22,372 | 17,696 | 15,880 | 4,089 | |
47/48 |
131,750 | - | - | 28,622 | |
| Income statement | |||||
9900 |
1.1m | 572,200 | 711,000 | 322,153 | |
62 |
607,895 | 487,165 | 437,543 | 96,044 | |
630 |
84,526 | 71,572 | 58,912 | 11,763 | |
640/8 |
5,091 | 6,161 | 2,619 | 434 | |
9901 |
397,690 | 7,301 | 211,926 | 213,911 | |
75/76B |
3,573 | 6 | 318 | 1 | |
75 |
3,573 | 6 | 318 | 1 | |
65/66B |
79,832 | 29,036 | 7,144 | 48 | |
65 |
79,832 | 29,036 | 7,144 | 48 | |
9903 |
321,430 | -21,729 | 205,100 | 213,864 | |
67/77 |
83,535 | 802 | 56,212 | 47,455 | |
9904 |
237,896 | -22,531 | 148,888 | 166,409 | |
9905 |
237,896 | -22,531 | 148,888 | 166,409 | |
| Appropriation of the result | |||||
9906 |
430,662 | 192,766 | 265,297 | 166,409 | |
14P |
192,766 | 215,297 | 116,409 | - | |
791/2 |
50,000 | - | - | - | |
691/2 |
- | - | 50,000 | 50,000 | |
6921 |
- | - | 50,000 | 50,000 | |
694/7 |
150,000 | - | - | - | |
694 |
150,000 | - | - | - | |
| Social balance sheet | |||||
9087 |
12.7 | 12 | 10.8 | 2.6 | |
Hours worked1013 |
17,552 | 14,696 | 13,800 | 3,768 | |
| Document | |||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 10-08-2026.
2025 annual accounts filed 10 days after the deadline. Filed on 10 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00390715.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 482,216 | 78,874 | 270,838 | 225,674 | ||
| 322,422 | 49,042 | 207,800 | 178,172 | ||
| 76,077 | 72,458 | 522,766 | 126,541 | ||
| 108,292 | 104,753 | 12,772 | - | ||
| 121,920 | 76,116 | 87,549 | 55,465 | ||
| 33.8% | 29.2% | 31.9% | 64.6% | ||
| 1.27 | 1.21 | 1.26 | 1.59 | ||
| 1.96 | 2.42 | 2.14 | 0.55 | ||
| 61.7% | -7.6% | 46.5% | 97.1% | ||
| 20.8% | -2.2% | 14.8% | 62.7% | ||
| 6.04 | 2.72 | 37.91 | over 100 |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 13 | 11 | 12 | 3 |
| full-time | 12 | 11 | 12 | 3 |
| part-time | 1 | - | - | - |
| in full-time equivalents | 12.5 | 11 | 12 | 3 |
| 12.7 | 12 | 10.8 | 2.6 | |
| On a permanent contract | 13 | 11 | 12 | 3 |
| Joined | 5 | 9 | 23 | 6 |
| Left | 3 | 10 | 14 | 3 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €410,150 | - | - | - |
| Mortgages, amount registered | €25,000 | - | - | - |
| €255,000 | - | - | - | |
| Carrying value of the mortgaged assets | €364,574 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €76,077 | €72,433 | €503,766 | €126,541 |
| Financial fixed assets | - | €25 | €19,000 | - |
| €84,526 | €71,572 | €58,912 | €11,763 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is over 54 times that of 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 70.8% to 66.2%. Equity and debt are higher.
EMR CONSTRUCT has no parent and no holdings in its annual accounts. EMR CONSTRUCT shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Stefaniastraat 103 B registered office 1020 Brussels | 24-11-2021 | 2.324.348.048 |
| Haachtsesteenweg 1896 1130 Brussels | 11-08-2023 | 2.358.206.590 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21821C0162/00Z004 | 970 m² | 1 · 204 m² | 11.6 m · 2 |
| 21815D0162/00L005 | 247 m² | 1 · 108 m² | 13.6 m · 4 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0777.659.688
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