KEMAKO
ActiveKEMAKO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €37k and a net result of €4k. Equity is shrinking by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 66% of 3941 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
78
/ 100
Excellent▼ -22 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability47▼-53
Solvency95▼-5
Growth58=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.01 against 4.17 in 2023), and 49.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
50.2%
Return on assets
4.8%
Age of the figures
20 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-08-2025, 11 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
not confirmed
2024
11 d late
2023
22 d early
2022
10 d late
2021
17 d late
2020
43 d early
2019
29 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4k▼ 94.1%
2023 · €60k
2018: €505
2019: €-504
2020: €4k
2021: €-20k
2022: €-67k
2023: €60k
2018 → 2024
Working capital
€37k▲ 10.5%
2023 · €34k
2018: €-126k
2019: €-145k
2020: €-138k
2021: €-141k
2022: €-176k
2023: €34k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€60k-€40k▼ 32.9%€-26k€34k€37k▲ 10.5%
Operating result€9k-€-10k€-51k▼ 427%€70k€8k▼ 89.2%
Net result€4k-€-20k€-67k▼ 237%€60k€4k▼ 94.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 89% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €74k
Equity
€37k▲ 10.5%
Debt
€37k▲ 247%
The debt ratio rises from 24.0% to 49.8%: debt grows faster than equity.
Key figures and ratios
Solvency
50.2%▼
2023 · 76.0%
Current ratio
2.01▼
2023 · 4.17
Quick ratio
1.47▼
2023 · 4.17
Debt / equity
0.99▲
2023 · 0.32
ROE
9.5%▼
2023 · 177.8%
ROA
4.8%▼
2023 · 135.1%
Debt
€37k▲
2023 · €11k
Debt ≤ 1 year
€37k▲
2023 · €11k
Income taxes
€3k▲
2023 · €798
Staff costs
€-2k▼
2023 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€44k€74k▲
Fixed assets21/28€0-
Tangible fixed assets22/27€0-
Plant, machinery and equipment23€0-
Furniture and vehicles24€0-
Other tangible fixed assets26€0-
Current assets29/58€44k€74k▲
Stocks and contracts in progress3€0€20k▲
Stocks30/36€0€20k▲
Amounts receivable within one year40/41€43k€25k▼
Trade receivables40€43k€25k▼
Other amounts receivable41€0€0▲
Cash at bank and in hand54/58€1k€29k▲
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€44k€74k▲
Equity10/15€34k€37k▲
Contributions10/11€19k€19k=
Reserves13€2k€19k▲
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Distributable reserves133-€19k
Profit (loss) carried forward14€13k€0▼
Amounts payable17/49€11k€37k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€11k€37k▲
Current portion of amounts payable after more than one year42€4k€0▼
Trade debts44€3k€34k▲
Suppliers440/4€3k€34k▲
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€492€3k▲
Remuneration and social security454/9€3k€0▼
Other amounts payable47/48€0€490▲
Income statement
Code20232024
Non-recurring operating income76A€246k€0▼
Remuneration, social security and pensions62€5k€-2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-
Other operating charges640/8€4k€627▼
Non-recurring operating charges66A€156k€0▼
Gross operating margin9900€235k€6k▼
Operating profit (loss)9901€70k€8k▼
Financial income75/76B€8€0▼
Recurring financial income75€8€0▼
Financial charges65/66B€9k€705▼
Recurring financial charges65€9k€705▼
Profit (loss) for the period before taxes9903€61k€7k▼
Income taxes67/77€798€3k▲
Profit (loss) for the period9904€60k€4k▼
Transfer from tax-exempt reserves789€0-
Profit (loss) for the period to be appropriated9905€60k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€13k€4k▼
Profit (loss) brought forward from the previous period14P€-47k€0▲
Transfer to equity691/2-€4k
To contributions691-€4k
Social balance
Average headcount (FTE)90870.7-
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €60k
Net result €60k after 2 loss-making years.
31-12
Financial
Liquidity times 8current ratio 4.17
Current ratio from 0.52 to 4.17; short-term debt falls from €364k to €11k.
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 10 days late
2022
31-12
Financial
Weakest financial yearnet €-67k
Net result drops to €-67k, the lowest in the series; recovery starts the following year.
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Sint-Pieters-Leeuw · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Galgstraat 1291600 Sint-Pieters-LeeuwGround area
1,334 m²
Building footprint
124 m²
Volume, LiDAR
773 m³
Parcel 23582D0108/00G000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KEMAKO
since 20182.280.671.126
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23582D0108/00G000 | Flanders | 1,334 m² | 1 · 124 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
SERENITY STABLES
BE 0628.938.397
Lokeren · Eq €37k
V-Horses
BE 0675.376.455
Jurbise · Eq €37k
Max Sporthorses
BE 0800.334.132
Kasterlee · Eq €37k
TumTum
BE 0798.412.344
Ieper · Eq €37k
De Werf Horses
BE 0758.826.545
Ravels · Eq €38k
Of 1,948 companies in sector 01430 we hold annual accounts for 739. 511 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-07-2011
Fiscal year end31-12
Activities, NACEBEL
01430Raising of horses and other equines
70200Business and other management consultancy
70220Business consulting
93127Equestrian clubs
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.