EMS PLUS
ActiveSummary
EMS PLUS has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13,233 and a net result of €28,817. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 39% of 16,996 sector peers (NACE 56, financial year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-04-2003 Normal situation
- Activity
- Limited-service restaurants, excluding mobile food services NACE 56112
- Establishment unit
- 2.132.365.648 1050 Elsene, since 27-06-2003
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Board and ownership
- MORINOU KarimDirector · since 31-12-2004
- DIRA AissamDirector · since 30-06-2013
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.7%
- Gross margin
- €30,225
- ▲ 217%
- Turnover
- ≈ €170,000
- estimated
- Profit
- €28,817
- ▲ 340%
- Equity
- €13,233
- Total assets
- €79,275
- ▲ 130%
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Size: total assets €79,275lowers riskFounded in 2003Liquidity: current ratio 1.15, cash €21,208Show the evidence
Checked score
About 7 in 1,000 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 (NACE 56, micro). It does better than 39% of them on solvency, 32% on liquidity, 93% on profitability and 94% on growth.
The bankruptcy probability was computed on 01-11-2026 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
The company filed its last 7 accounts on average 24 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 21 filings
Amounts without an identifiable currency are taken as euros.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is nearly 4.2 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €734 | €412 | €6,068 | - | - |
| Depreciation and write-downs of the year | €1,896 | €2,308 | €2,126 | €2,154 | €1,279 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €125,965 | €122,718 | €11,651 | €97,197 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €119,035 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €530 | €948 | €1,750 | €1,896 | €2,308 | €2,126 | €2,154 | €1,279 | ▼ 40.6% |
| Other operating charges640/8 | - | - | - | €1,043 | - | - | €401 | - | - |
| Gross operating margin9900 | €4,930 | €7,076 | €10,692 | -€21,839 | -€2,785 | €9,112 | €9,528 | €30,225 | ▲ 217% |
| Operating profit (loss)9901 | €4,053 | €5,607 | €8,942 | -€24,777 | -€5,093 | €6,986 | €6,972 | €28,946 | ▲ 315% |
| Financial income75/76B | - | - | - | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €1 | - | - | - |
| Financial charges65/66B | - | - | - | €86 | €201 | €104 | €416 | €129 | ▼ 68.9% |
| Recurring financial charges65 | €126 | €313 | €164 | €86 | €201 | €104 | €416 | €129 | ▼ 68.9% |
| Profit (loss) for the period before taxes9903 | €3,927 | €5,294 | €8,777 | -€24,863 | -€5,294 | €6,882 | €6,556 | €28,817 | ▲ 340% |
| Income taxes67/77 | €9 | €6 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €3,919 | €5,287 | €8,777 | -€24,863 | -€5,294 | €6,882 | €6,556 | €28,817 | ▲ 340% |
| Profit (loss) for the period to be appropriated9905 | €3,919 | €5,287 | €8,777 | -€24,863 | -€5,294 | €6,882 | €6,556 | €28,817 | ▲ 340% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12,480 | €15,243 | €40,658 | €25,064 | €27,685 | €32,377 | €34,519 | €79,275 | ▲ 130% |
| Fixed assets21/28 | €1,198 | €4,017 | €5,907 | €4,745 | €2,850 | €6,792 | €4,638 | €3,359 | ▼ 27.6% |
| Tangible fixed assets22/27 | €1,118 | €3,937 | €5,827 | €4,665 | €2,770 | €6,712 | €4,558 | €3,279 | ▼ 28.1% |
| Plant, machinery and equipment23 | - | - | - | €3,157 | €1,764 | €372 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | - | €5,838 | €4,558 | €3,279 | ▼ 28.1% |
| Other tangible fixed assets26 | - | - | - | €1,509 | €1,005 | €502 | - | - | - |
| Financial fixed assets28 | €80 | €80 | €80 | €80 | €80 | €80 | €80 | €80 | = |
| Current assets29/58 | €11,282 | €11,226 | €34,751 | €20,319 | €24,835 | €25,585 | €29,881 | €75,916 | ▲ 154% |
| Stocks and contracts in progress3 | €9,235 | €9,235 | €12,735 | €15,356 | €15,006 | €10,506 | €9,206 | €5,206 | ▼ 43.5% |
| Stocks30/36 | - | - | - | €15,356 | €15,006 | €10,506 | €9,206 | €5,206 | ▼ 43.5% |
| Amounts receivable within one year40/41 | €206 | €612 | €938 | €189 | €2,596 | - | €677 | €49,502 | ▲ 73× |
| Trade receivables40 | - | - | - | - | €2,596 | - | €677 | €718 | ▲ 6.0% |
| Other amounts receivable41 | - | - | - | €189 | - | - | - | €48,784 | - |
| Cash at bank and in hand54/58 | €1,840 | €1,378 | €21,079 | €4,773 | €7,233 | €15,079 | €19,998 | €21,208 | ▲ 6.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12,480 | €15,243 | €40,658 | €25,064 | €27,685 | €32,377 | €34,519 | €79,275 | ▲ 130% |
| Equity10/15 | -€12,929 | -€7,642 | €1,135 | -€23,728 | -€29,022 | -€22,140 | -€15,583 | €13,233 | - |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Capital10 | - | - | - | €19,000 | - | - | - | - | - |
| Issued capital100 | - | - | - | €19,000 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€31,929 | -€26,642 | -€17,865 | -€42,728 | -€48,022 | -€41,140 | -€34,583 | -€5,767 | ▲ 83.3% |
| Amounts payable17/49 | €25,409 | €22,884 | €39,523 | €48,792 | €56,707 | €54,517 | €50,103 | €66,041 | ▲ 31.8% |
| Amounts payable within one year42/48 | €25,409 | €22,884 | €39,523 | €48,792 | €56,707 | €54,517 | €50,103 | €66,041 | ▲ 31.8% |
| Trade debts44 | €14,409 | €11,884 | €28,523 | €27,209 | €22,232 | €19,081 | €38,748 | €21,780 | ▼ 43.8% |
| Suppliers440/4 | - | - | - | €27,209 | €22,232 | €19,081 | €38,748 | €21,780 | ▼ 43.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €12,893 | €16,508 | €11,355 | €17,158 | ▲ 51.1% |
| Taxes450/3 | - | - | - | - | €1,185 | €1,799 | €2,449 | €4,708 | ▲ 92.2% |
| Remuneration and social security454/9 | - | - | - | - | €11,709 | €14,709 | €8,906 | €12,449 | ▲ 39.8% |
| Other amounts payable47/48 | - | - | - | €21,582 | €21,582 | €18,928 | - | €27,104 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,919 | €5,287 | €8,777 | -€24,863 | -€5,294 | €6,882 | €6,556 | €28,817 | ▲ 340% |
| + Depreciation and write-downs630 | €530 | €948 | €1,750 | €1,896 | €2,308 | €2,126 | €2,154 | €1,279 | ▼ 40.6% |
| Operating cash flow (approximation) | €4,448 | €6,235 | €10,527 | -€22,968 | -€2,986 | €9,008 | €8,710 | €30,096 | ▲ 246% |
| Investment in fixed assets (approximation) | - | -€3,767 | -€3,640 | -€734 | -€412 | -€6,068 | €0 | €0 | - |
| Change in cash | - | -€462 | €19,700 | -€16,305 | €2,460 | €7,846 | €4,918 | €1,210 | ▼ 75.4% |
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, 3,818 companies had the same profile as EMS PLUS has now. Two years later, 1.0% had gone bankrupt and 95.1% were still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EMS PLUS itself: 0.7% within 12 months.
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 3,818 companies, not a prediction for EMS PLUS. 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.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00357741 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00341696 | |
| 31-12-2023 | micro format | 01-08-2024 | 2024-00318616 | |
| 31-12-2022 | micro format | 23-07-2023 | 2023-00260261 | |
| 31-12-2021 | full format | 18-08-2022 | 2022-20304317 | |
| 31-12-2020 | full format | 28-08-2021 | 2021-57200557 | |
| 31-12-2019 | full format | 17-12-2020 | 2020-76100527 | |
| 31-12-2018 | full format | 25-07-2019 | 2019-37800466 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-57700192 | |
| 31-12-2016 | full format | 19-08-2017 | 2017-46100002 |
Board & ownership
Directors
Owners and capital
Shareholders
- DIRA Aissam 50 shares
- MORINOU Karim 50 shares
Capital transactions
- 08-03-2024 Converted to unavailable equity · €19,000
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DIRA Aissam |
|
| MORINOU Karim |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Organe d'administration, 1”
- Custody of recordsThe books and records are kept for at least five years after liquidation. The articles set where.
- “Conservé en étude notaire instrumentant, au moins cinquante ans”
Articles of association, deed of 08-03-2024 (in French)
Network & group
EMS PLUS shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of EMS PLUS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
08-03
Gazette deed
Changes of role: DIRA Aissam (director) and MORINOU Karim (director)Legal-form conversion · Shareholding · Power of attorney32 points ▸
- Legal-form conversion, “srl” (deed in French)
- General meeting, 06-03-2024
- Other provision, “statuts antérieurs, n’ont pas été modifiés à ce jour” (deed in French)
- Other provision, “président,secrétaire et scrutateur, bureau de l’assemblée” (deed in French)
- DIRA Aissam holds 50 shares
- MORINOU Karim holds 50 shares
- Other provision, 100, “total actions émises” (deed in French)
- Power of attorney, Michaelina de Radzitzky
- Other provision, “ordre du jour, assemblée convoquée pour délibérer” (deed in French)
- Amendment of the articles, mentioned 4 times in the deed
- Other provision, “suppression compte de capitaux propres statutairement indisponible, mise à disposition pour distributions futures” (deed in French)
- Power of attorney, Damien COLLON-WINDELINCKX
- The act holds 20 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21442A0084/00G016 | Brussels | 149 m² | 1 · 141 m² | 17.9 m · 3 |