EMWAY
ActiveSummary
EMWAY has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €219k and a net result of €78k. Equity is growing by ~95.2% per year across the filed fiscal years. Its solvency ranks better than 33% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-1
Solvency58▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity short (current ratio 0.44 against 0.31 in 2024; short-term debt: 38.5% and cash: 9% of total assets), and 67.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
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
32.6%
Return on assets
11.7%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-11-2025, 27 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
27 d late
2024
1 d early
2023
on the day
2022
35 d late
2021
67 d late
2020
30 d late
2019
48 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€219k▲ 47.4%
2024 · €148k
Total assets
€670k▲ 27.8%
2024 · €524k
Net result
€78k▲ 22.2%
2024 · €64k
Working capital
€-144k▼ 48.1%
2024 · €-97k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-2k€-3k▼ 64.3%€58k€75k▲ 28.9%€114k▲ 51.5%
Net result€-3k€27k€51k▲ 89.6%€64k▲ 26.0%€78k▲ 22.2%
Equity€7k▼ 32.6%€33k▲ 380%€84k▲ 154%€148k▲ 76.4%€219k▲ 47.4%
Total assets€247k▼ 11.1%€474k▲ 91.5%€480k▲ 1.3%€524k▲ 9.2%€670k▲ 27.8%
Debt€240k▼ 10.3%€430k▲ 78.7%€385k▼ 10.4%€365k▼ 5.1%€442k▲ 21.0%
Working capital€-5k▲ 86.2%€-95k▼ 1,910%€-58k▲ 38.5%€-97k▼ 66.4%€-144k▼ 48.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 51% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €649k
Fixed assets
€535k ▲ 11.5%
Current assets
€114k ▲ 157%
Equity and liabilities €670k
Equity
€219k ▲ 47.4%
Provisions
€9k ▼ 11.6%
Debt
€442k ▲ 21.0%
Debt's share of the balance-sheet total falls from 69.7% to 66.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€161k▲
2024 · €117k
Cash flow
€126k▲
2024 · €106k
Current ratio
0.44▲
2024 · 0.31
Debt to equity
2.02▼
2024 · 2.46
ROE
35.9%▼
2024 · 43.3%
ROA
11.7%▼
2024 · 12.3%
Interest coverage
44.89▼
2024 · 102.25
Debt ≤ 1 year
€258k▲
2024 · €142k
Debt > 1 year
€183k▼
2024 · €224k
Income taxes
€33k▲
2024 · €10k
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 | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34k | €36k | €35k | €42k | €47k | ▲ 12.3% |
| Other operating charges640/8 | - | €4k | €6k | €5k | €5k | ▼ 7.8% |
| Gross operating margin9900 | €36k | €37k | €99k | €122k | €166k | ▲ 35.5% |
| Operating profit (loss)9901 | €-2k | €-3k | €58k | €75k | €114k | ▲ 51.5% |
| Financial income75/76B | - | €45k | €1 | €347 | €644 | ▲ 85.7% |
| Recurring financial income75 | €8 | €822 | €1 | €347 | €644 | ▲ 85.7% |
| Non-recurring financial income76B | - | €44k | - | - | - | - |
| Financial charges65/66B | - | €5k | €5k | €1k | €4k | ▲ 213% |
| Recurring financial charges65 | €1k | €5k | €5k | €1k | €4k | ▲ 213% |
| Profit (loss) for the period before taxes9903 | €-3k | €37k | €53k | €74k | €111k | ▲ 49.1% |
| Transfer from deferred taxes780 | - | €901 | €225 | €225 | €1k | ▲ 437% |
| Transfer to deferred taxes680 | - | €11k | €0 | - | - | - |
| Income taxes67/77 | - | - | €3k | €10k | €33k | ▲ 226% |
| Profit (loss) for the period9904 | €-3k | €27k | €51k | €64k | €78k | ▲ 22.2% |
| Transfer from tax-exempt reserves789 | - | - | €676 | €676 | €4k | ▲ 437% |
| Transfer to tax-exempt reserves689 | - | €33k | €0 | €31k | €56k | ▲ 79.5% |
| Profit (loss) for the period to be appropriated9905 | €-3k | €-6k | €52k | €34k | €26k | ▼ 22.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €247k | €474k | €480k | €524k | €670k | ▲ 27.8% |
| Formation expenses20 | - | - | - | - | €21k | - |
| Fixed assets21/28 | €213k | €437k | €436k | €480k | €535k | ▲ 11.5% |
| Tangible fixed assets22/27 | €213k | €437k | €436k | €480k | €535k | ▲ 11.5% |
| Land and buildings22 | - | €430k | €399k | €370k | €422k | ▲ 13.9% |
| Plant, machinery and equipment23 | - | €3k | €33k | €107k | €112k | ▲ 4.8% |
| Furniture and vehicles24 | - | €5k | €4k | €2k | €1k | ▼ 51.1% |
| Current assets29/58 | €35k | €36k | €44k | €44k | €114k | ▲ 157% |
| Amounts receivable within one year40/41 | €9k | - | €7k | €8k | €22k | ▲ 190% |
| Trade receivables40 | - | - | €4k | €6k | €16k | ▲ 191% |
| Other amounts receivable41 | - | - | €3k | €2k | €6k | ▲ 188% |
| Current investments50/53 | €1k | €1k | €0 | - | - | - |
| Cash at bank and in hand54/58 | €25k | €35k | €37k | €34k | €60k | ▲ 78.4% |
| Deferred charges and accrued income490/1 | - | - | - | €3k | €31k | ▲ 954% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €247k | €474k | €480k | €524k | €670k | ▲ 27.8% |
| Equity10/15 | €7k | €33k | €84k | €148k | €219k | ▲ 47.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €26k | €58k | €58k | €88k | €138k | ▲ 56.3% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €33k | €32k | €62k | €112k | ▲ 79.7% |
| Distributable reserves133 | - | €24k | €24k | €24k | €24k | = |
| Profit (loss) carried forward14 | €-38k | €-44k | €8k | €42k | €62k | ▲ 49.7% |
| Provisions and deferred taxes16 | - | €11k | €11k | €10k | €9k | ▼ 11.6% |
| Deferred taxes168 | - | €11k | €11k | €10k | €9k | ▼ 11.6% |
| Amounts payable17/49 | €240k | €430k | €385k | €365k | €442k | ▲ 21.0% |
| Amounts payable after more than one year17 | €201k | €299k | €283k | €224k | €183k | ▼ 18.3% |
| Financial debts170/4 | - | €299k | €283k | €224k | €183k | ▼ 18.3% |
| Amounts payable within one year42/48 | €40k | €131k | €103k | €142k | €258k | ▲ 82.1% |
| Current portion of amounts payable after more than one year42 | - | €37k | €17k | €31k | €31k | = |
| Trade debts44 | €4k | €14k | €3k | €11k | €46k | ▲ 329% |
| Suppliers440/4 | - | €14k | €3k | €11k | €46k | ▲ 329% |
| Advances received on contracts in progress46 | - | €1k | €0 | €7k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €335 | €3k | €262 | €26k | ▲ 9,714% |
| Taxes450/3 | - | €335 | €3k | €262 | €26k | ▲ 9,714% |
| Other amounts payable47/48 | - | €79k | €80k | €92k | €155k | ▲ 67.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3k | €27k | €51k | €64k | €78k | ▲ 22.2% |
| + Depreciation and write-downs630 | €34k | €36k | €35k | €42k | €47k | ▲ 12.3% |
| Operating cash flow (approximation) | €31k | €63k | €86k | €106k | €126k | ▲ 18.3% |
| Investment in fixed assets (approximation) | - | €-261k | €-33k | €-86k | €-102k | ▼ 19.0% |
| Change in cash | - | €10k | €3k | €-4k | €26k | ▲ 814% |
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
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
31-03
Financial
Highest result since 2019net €78k ▲22.2%
Operating result €114k, net result €78k, both a record.
31-03
Financial
Equity above €200kEq €219k ▲47.4%
4 profitable years in a row build equity to €219k.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Equity above €100kEq €148k ▲76.4%
3 profitable years in a row build equity to €148k.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
05-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 35 days late
31-03
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
06-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 67 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
31-03
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
2019
18-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 48 days late
Show earlier events
2018
11-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 41 days late
2017
05-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Antwerpen · 1 establishment unit since 2004
Ground area
212 m²
Building footprint
88 m²
Volume, LiDAR
729 m³
Parcel 11302A0060/00C005, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Emway
since 20042.134.600.212
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11302A0060/00C005 | Flanders | 212 m² | 1 · 88 m² | 9.8 m · 3 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 9,862 companies in sector 73110 we hold annual accounts for 3,752. 2,769 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
Founded12-12-2003
Fiscal year end31-03
Activities, NACEBEL 2025
73110Advertising agencies
18130Pre-press and pre-media services
Contact
E-mail
Martine.wynants@tijd.comAntwerpen
Phone
03/2361603Antwerpen
Phone
0474/584786Antwerpen
Fax
03/2361603Antwerpen
Scores and ratios are computed by Checked and are not a credit decision.