Summary
EMTWO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €81,337 and a net result of €56,622. Equity is shrinking by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 39% of 8074 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 15-12-2025, 47 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
47 d early
2024
60 d early
2023
62 d early
2022
56 d early
2021
55 d early
2020
41 d early
2019
45 d early
← 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 52 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€81,337▼ 22.3%
2024 · €104,715
Net result
€56,622▼ 14.3%
2024 · €66,039
Total assets
€217,565▼ 14.7%
2024 · €255,065
Solvency
37.4%▼ 3.7pp
2024 · 41.1%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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€86,040▼ 7.4%€63,802▼ 25.8%€105,545▲ 65.4%€85,769▼ 18.7%€77,445▼ 9.7%
Net result€70,599within the sector's middle half▼ 1.8%€48,785within the sector's middle half▼ 30.9%€83,025above the sector's middle half▲ 70.2%€66,039within the sector's middle half▼ 20.5%€56,622within the sector's middle half▼ 14.3%
Equity€115,823below the sector's middle half▼ 44.9%€116,608below the sector's middle half▲ 0.7%€119,633within the sector's middle half▲ 2.6%€104,715within the sector's middle half▼ 12.5%€81,337within the sector's middle half▼ 22.3%
Total assets€267,280below the sector's middle half▲ 12.3%€223,572below the sector's middle half▼ 16.4%€296,721within the sector's middle half▲ 32.7%€255,065within the sector's middle half▼ 14.0%€217,565within the sector's middle half▼ 14.7%
Debt€151,457▲ 447%€106,964▼ 29.4%€177,088▲ 65.6%€150,350▼ 15.1%€136,228▼ 9.4%
Working capital€62,832▼ 68.4%€47,530▼ 24.4%€21,642▼ 54.5%-€17,548-€46,741▼ 166%
Solvency43.3%within the sector's middle half▼ 45.0pp52.2%within the sector's middle half▲ 8.8pp40.3%within the sector's middle half▼ 11.8pp41.1%within the sector's middle half▲ 0.7pp37.4%within the sector's middle half▼ 3.7pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €217,565
Fixed assets
€138,342 ▼ 11.2%
Current assets
€79,223 ▼ 20.2%
Equity and liabilities €217,565
Equity
€81,337 ▼ 22.3%
Debt
€136,228 ▼ 9.4%
Debt's share of the balance-sheet total rises from 58.9% to 62.6%. Equity and debt are lower.
Key figures and ratios
ROE
69.6%▲
2024 · 63.1%
ROA
26.0%▲
2024 · 25.9%
Debt ≤ 1 year
€125,964▲
2024 · €116,828
Debt > 1 year
€10,168▼
2024 · €33,456
Income taxes
€15,302▼
2024 · €17,639
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €14,000 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,197 | €21,960 | €15,337 | €24,984 | €27,172 | ▲ 8.8% |
| Other operating charges640/8 | - | €1,534 | €1,168 | €763 | €676 | ▼ 11.3% |
| Gross operating margin9900 | €101,882 | €87,296 | €122,050 | €111,516 | €105,294 | ▼ 5.6% |
| Operating profit (loss)9901 | €86,040 | €63,802 | €105,545 | €85,769 | €77,445 | ▼ 9.7% |
| Financial income75/76B | - | - | €3 | €0 | €2 | ▲ 14,900% |
| Recurring financial income75 | - | - | €3 | €0 | €2 | ▲ 14,900% |
| Financial charges65/66B | - | €794 | €1,148 | €2,091 | €5,523 | ▲ 164% |
| Recurring financial charges65 | €496 | €794 | €1,148 | €2,091 | €5,523 | ▲ 164% |
| Profit (loss) for the period before taxes9903 | €85,544 | €63,008 | €104,399 | €83,678 | €71,924 | ▼ 14.0% |
| Income taxes67/77 | €14,945 | €14,223 | €21,374 | €17,639 | €15,302 | ▼ 13.2% |
| Profit (loss) for the period9904 | €70,599 | €48,785 | €83,025 | €66,039 | €56,622 | ▼ 14.3% |
| Profit (loss) for the period to be appropriated9905 | €70,599 | €48,785 | €83,025 | €66,039 | €56,622 | ▼ 14.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €267,280 | €223,572 | €296,721 | €255,065 | €217,565 | ▼ 14.7% |
| Fixed assets21/28 | €101,736 | €103,551 | €156,296 | €155,785 | €138,342 | ▼ 11.2% |
| Tangible fixed assets22/27 | €98,936 | €96,551 | €145,096 | €141,785 | €118,742 | ▼ 16.3% |
| Furniture and vehicles24 | - | €4,571 | €59,914 | €57,741 | €45,877 | ▼ 20.5% |
| Other tangible fixed assets26 | - | €91,981 | €85,182 | €84,043 | €72,865 | ▼ 13.3% |
| Financial fixed assets28 | €2,800 | €7,000 | €11,200 | €14,000 | €19,600 | ▲ 40.0% |
| Current assets29/58 | €165,544 | €120,021 | €140,425 | €99,281 | €79,223 | ▼ 20.2% |
| Amounts receivable within one year40/41 | €7,953 | €10,329 | €8,467 | €10,056 | €13,086 | ▲ 30.1% |
| Trade receivables40 | - | €7,052 | €8,465 | €8,695 | €12,832 | ▲ 47.6% |
| Other amounts receivable41 | - | €3,277 | €2 | €1,361 | €254 | ▼ 81.4% |
| Cash at bank and in hand54/58 | €156,508 | €108,357 | €130,855 | €87,923 | €64,756 | ▼ 26.3% |
| Deferred charges and accrued income490/1 | - | €1,335 | €1,103 | €1,302 | €1,381 | ▲ 6.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €267,280 | €223,572 | €296,721 | €255,065 | €217,565 | ▼ 14.7% |
| Equity10/15 | €115,823 | €116,608 | €119,633 | €104,715 | €81,337 | ▼ 22.3% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €97,273 | €98,058 | €101,083 | €86,165 | €62,787 | ▼ 27.1% |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €0 | - | - |
| Distributable reserves133 | - | €96,203 | €99,228 | €86,165 | €62,787 | ▼ 27.1% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €151,457 | €106,964 | €177,088 | €150,350 | €136,228 | ▼ 9.4% |
| Amounts payable after more than one year17 | €48,728 | €34,336 | €58,173 | €33,456 | €10,168 | ▼ 69.6% |
| Financial debts170/4 | - | €34,336 | €58,173 | €33,456 | €10,168 | ▼ 69.6% |
| Amounts payable within one year42/48 | €102,712 | €72,491 | €118,783 | €116,828 | €125,964 | ▲ 7.8% |
| Current portion of amounts payable after more than one year42 | - | €14,392 | €24,120 | €24,717 | €23,288 | ▼ 5.8% |
| Trade debts44 | €2,633 | €2,838 | €2,565 | €2,569 | €5,080 | ▲ 97.7% |
| Suppliers440/4 | - | €2,838 | €2,565 | €2,569 | €5,080 | ▲ 97.7% |
| Taxes, remuneration and social security45 | - | €5,626 | €9,802 | €8,385 | €4,568 | ▼ 45.5% |
| Taxes450/3 | - | €2,721 | €6,577 | €4,801 | €4,568 | ▼ 4.9% |
| Remuneration and social security454/9 | - | €2,905 | €3,225 | €3,583 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €49,635 | €82,297 | €81,157 | €93,028 | ▲ 14.6% |
| Accrued charges and deferred income492/3 | - | €138 | €131 | €66 | €96 | ▲ 46.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €70,599 | €48,785 | €83,025 | €66,039 | €56,622 | ▼ 14.3% |
| + Depreciation and write-downs630 | €14,197 | €21,960 | €15,337 | €24,984 | €27,172 | ▲ 8.8% |
| Operating cash flow (approximation) | €84,796 | €70,745 | €98,362 | €91,023 | €83,794 | ▼ 7.9% |
| Investment in fixed assets (approximation) | - | -€23,776 | -€68,081 | -€24,473 | -€9,730 | ▲ 60.2% |
| Change in cash | - | -€48,151 | €22,499 | -€42,933 | -€23,167 | ▲ 46.0% |
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
2025
15-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Highest result since 2019net €83,025 ▲70.2%
Operating result €105,545, net result €83,025, both a record.
2022
06-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Weakest financial yearnet €48,785 ▼30.9%
Net result drops to €48,785, the lowest in the series; recovery starts the following year.
2021
07-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-06
Financial
Equity above €200,000Eq €210,224 ▲59%
2 profitable years in a row build equity to €210,224.
2019
17-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Asse · 1 establishment unit since 2016
Ground area
3,278 m²
Building footprint
218 m²
Volume, LiDAR
202 m³
Parcel 23002H0283/00D000, Flanders · tallest building 5.5 m. Linked by address, not a title deed.
1 establishment unit
EMTWO
since 20162.257.815.946
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23002H0283/00D000 | Flanders | 3,278 m² | 1 · 218 m² | 5.5 m |
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 24,729 companies in sector 64210 we hold annual accounts for 19,799. 11,806 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
Founded17-10-2016
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664691114
Registered
29-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.