Skip to content
Checked.be
Complete company report
Generated 26-08-2026
Active BE 0535.821.169Private limited company (pre-2019)Open bankruptcy

EM&CO

· 13 yrs active
Conclusion Checked

A bankruptcy procedure is open for EM&CO according to publications in the Belgian State Gazette. The file additionally contains 1 administrative flag. The 2023 annual accounts show equity of €115k and a net result of €15k.

Based on the State Gazette, CBE and 6 annual accounts.
Key figures
Equity €115k
Net result €15k
Active 13 yrs
Board 2
Financial profile 5 of 5 axes measured · computed by Checked
Health24Profitability67Solvency80Growth52Stability0
45 / 100

Mixed profile: strong on solvency, weaker on stability.

All 5 axes are computed from data Checked has read.

Health 24
Profitability 67
Solvency 80
Growth 52
Stability 0
Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based
53 / 100
High riskRegister: open bankruptcy
This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.
Components
· Open bankruptcy (+50)
· 1 administrative flag (+3)
Trust signals 2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.
Administrative Flags1 events
Address struck
Health barometer FY 2023 · computed
24 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Financial overview10 NBB filings
Annual accounts filed on 10-07-2024 with the NBB · fiscal year 2023 · micro
€0€100k€200k€300kOperating result 2019: €10k€10kNet result 2019: €21k€21kOperating result 2020: €23k€23kNet result 2020: €33k€33kOperating result 2021: €67k€67kNet result 2021: €22k€22kOperating result 2022: €305k€305kNet result 2022: €25k€25kOperating result 2023: €32k€32kNet result 2023: €15k€15k20192020202120222023
Operating resultNet result
EBITDA
€33k
-89.3% 18-23
Net profit
€15k
-37.7% 18-23
Cash flow
€17k
-41.1% 18-23
Total assets
€274k
-45.6% 18-23
Equity
€115k
+31.9% 18-23
Working capital
€113k
-13.3% 18-23
Staff costs
€12k
+6031.4% 18-23
Income taxes
€12k
+3.0% 18-23
Show 9 other metrics
Debt
€159k
-61.8% 18-23
Debt ≤ 1y
€159k
-55.7% 18-23
Current ratio
1.71
+25.5% 18-23
Quick ratio
1.71
+25.5% 18-23
Solvency
41.9%
+142.3% 18-23
Debt / equity
1.39
-71.0% 18-23
ROE
13.4%
-52.8% 18-23
ROA
5.6%
+14.4% 18-23
Interest coverage
7.30
-74.3% 18-23
Figures by fiscal year
Fiscal year2023
Depositmicro
Revenue-
EBITDA€33k
Net profit€15k
Cash flow€17k
Staff costs€12k
Income taxes€12k
Dividends-
Total assets€274k
Equity€115k
Debt€159k
of which ≤ 1y€159k
of which > 1y-
Working capital€113k
Employees (FTE)-
Ratios (computed)
2023
Current ratio1.71
Quick ratio1.71
Working capital ratio41.2%
Solvency41.9%
Debt / equity1.39
Long-term debt ratio-
Interest coverage7.30
Gross margin-
Net margin-
ROA5.6%
ROE13.4%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts (20 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€274k
Fixed assets 21/28€2k
Tangible fixed assets 22/27€2k
Current assets 29/58€273k
Amounts receivable within one year 40/41€271k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€274k
Equity 10/15€115k
Contributions / capital 10/11€19k
Reserves 13€96k
Amounts payable 17/49€159k
Amounts payable within one year 42/48€159k
Trade debts payable within one year 44€82k
Income statement
Gross operating margin 9900€66k
Operating result 9901€32k
Financial income 75€0
Financial charges 65€5k
Result before taxes 9903€27k
Income taxes 67/77€12k
Net result for the period 9904€15k
Result to be appropriated 9905€15k
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 3 directors
Current directors & mandates
  • Olivier Sébastien Vivian C
    Director
    State Gazette act 25074494 (13-06-2025)
    Current
    23-05-2025 → present
  • Hadjiev Bogdan
    Director
    State Gazette act 25050947 (17-04-2025)
    Current
    17-04-2025 → present
    2 events
    • 23-05-2025 Resigned· Director
    • 17-04-2025 Appointed· Director
Former directors (1)
  • Maksutogullari Erhan
    Director
    State Gazette act 25050947 (17-04-2025)
    Former
    - → 17-04-2025
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Directors & mandates2 persons
Role Name Tenure Source
Curator BERNARD TOPPET HOEGARS
BILZERSTEENWEG 263, 3700 TONGEREN-BORGLOON
 22-01-2026 → present Belgian State Gazette
Curator PHILIPPE GHES- QUIERE
BILZERSTEENWEG 263, 3700 TONGEREN-BORGLOON-
 22-01-2026 → present Belgian State Gazette
Legal Structure
NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation19-06-2013
StatusActive
Postal code-
First insolvency signal 29-01-2026
Latest insolvency signal 29-01-2026
Establishment units 1 location
EM&CO
Heerbaan 67, 3582 BeringenOverige werkzaamheden in verband met de afwerking van gebouwen, n.e.g
since 20132.225.396.170
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
71034A0403/00A000 Flanders 972 m² 1 · 957 m² 15.0 m · 4 fl.
71522C0204/00E002 Flanders 343 m² 1 · 101 m² 9.0 m · 1 fl.
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 16 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
29-01-2026
Bankruptcy Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · EM&CO BV KONINGIN ASTRIDPLEIN 27 BUS 4, 3970 LEOPOLDSBURG · event 22-01-2026
2025
05-09-2025
KBO administration Address struck
13-06-2025
State Gazette act Director changes
17-04-2025
State Gazette act Director changes
2024
10-07-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
2023
23-07-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
05-10-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
13-05-2022
State Gazette act Registered-office change
2021
22-06-2021
NBB filing Annual accounts filed
fiscal year 2020 · micro
2020
30-06-2020
NBB filing Annual accounts filed
fiscal year 2019 · micro
2019
28-06-2019
NBB filing Annual accounts filed
fiscal year 2018 · micro
2018
22-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · micro
2017
24-08-2017
NBB filing Annual accounts filed
fiscal year 2016 · verkort
2016
30-09-2016
NBB filing Annual accounts filed
fiscal year 2015 · verkort
2015
31-08-2015
NBB filing Annual accounts filed
fiscal year 2014 · verkort
Lifecycle & Insolvency Signals2 events
29-01-2026
Bankruptcy Opening
Date: 22-01-2026 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · EM&CO BV KONINGIN ASTRIDPLEIN 27 BUS 4, 3970 LEOPOLDSBURG · Publications in State Gazette ↗
Full insolvency chronology

The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.

We hold 1 further earlier event in this file, covering 05-09-2025 to 22-01-2026.

Available in Kantoor S. See plans →
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262025-09-05 · KBO administration · Address struck2026-01-29 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgian State Gazette reading coverage 0 of 8 acts read

We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 3 acts
Address history · 1
13-05-2022
Registered-office move
All acts · 3 updated 1 year ago
2025
13-06-2025 1 director appointed, 1 resigning Director changes
  • Olivier Sébastien Vivian C, Bestuurder
  • BOGDAN HADJIEV, Bestuurder
Technical details 
{
  "events": [
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "BOGDAN HADJIEV",
        "address": null,
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2025-05-23",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Olivier S\u00E9bastien Vivian C",
        "address": null,
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2025-05-23",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "substantive_delegation",
      "role": "dagelijks_bestuur",
      "person": {
        "rrn": null,
        "name": "Olivier S\u00E9bastien Vivian C",
        "address": null,
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "board_snapshot",
      "role": null,
      "person": null,
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2025-06-13",
    "filing_date": "2025-06-04",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "enig_aandeelhouder_schriftelijk",
      "date": "2025-06-13",
      "unanimous": true
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0535.821.169",
    "name_full": "EM\u0026CO",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Olivier S\u00E9bastien Vivian C",
    "org_rep_person_name": null,
    "person_role_at_subject": "BESTUURDER"
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
17-04-2025 1 director appointed, 1 resigning Director changes
  • Hadjiev Bogdan, Bestuurder
  • Maksutogullari Erhan, Bestuurder
Technical details 
{
  "events": [
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Maksutogullari Erhan",
        "address": null,
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": "de_plein_droit_dissolution",
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Tijdens de bijzondere algemene vergadering van 01/01/2025 wordt beslist om het ontslag als bestuurder te aanvaarden van Maksutogullari Erhan. Hij krijgt volledige kwijting voor zijn uitgeoefende mandaat als bestuurder.",
      "decharge_status": "granted",
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Hadjiev Bogdan",
        "address": "Genebosstraat 87, 3560 Lummen",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Hadjiev Bogdan, wonende te Genebosstraat 87, 3560 Lummen wordt vanaf heden benoemt tot bestuurder.",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": "immediate"
    },
    {
      "kind": "rep_rotation",
      "role": "vaste_vertegenwoordiger",
      "person": null,
      "reason": null,
      "subkind": null,
      "via_org": {
        "kbo": null,
        "name": "Oudstrijdersstraat 11 bus 3, 3971 Leopoldsburg",
        "address": "Oudstrijdersstraat 11 bus 3, 3971 Leopoldsburg",
        "country": "BE",
        "legal_form": null
      },
      "statutory": null,
      "compensated": null,
      "effective_date": null,
      "evidence_quote": "Tevens wordt de maatschappelijke zetel verplaatst naar Oudstrijdersstraat 11 bus 3, 3971 Leopoldsburg.",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2025-04-17",
    "filing_date": null,
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "bijzondere_algemene_vergadering",
      "date": "2025-01-01",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0535.821.169",
    "name_full": "EM\u0026CO",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
2022
13-05-2022 Registered office moved from Beringen to Koersel Registered-office change
  • Beverlo-Dorp 11 bus 1, 3581 Beringen, België → 3582 Koersel, Heerbaan 67
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "3582 Koersel, Heerbaan 67",
        "city": "Koersel",
        "region": "vlaams_gewest",
        "street": "Heerbaan",
        "country": "BE",
        "postcode": "3582",
        "box_number": null,
        "street_number": "67",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Beverlo-Dorp 11 bus 1, 3581 Beringen, Belgi\u00EB",
        "city": "Beringen",
        "region": "vlaams_gewest",
        "street": "Beverlo-Dorp",
        "country": "BE",
        "postcode": "3581",
        "box_number": "1",
        "street_number": "11",
        "locality_suffix": null
      },
      "effective_date": "2022-04-01",
      "evidence_quote": "De vergadering aanvaardt de verplaatsing van de maatschappelijke zetel van 3581 Beringen, Beverlo-Dorp 11 bus 1 naar 3582 Koersel, Heerbaan 67, met ingang vanaf 1 april 2022.",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "act_body",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2022-05-13",
    "filing_date": "2022-05-05",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "bijzondere_algemene_vergadering",
    "date": "2022-03-31",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0535.821.169",
    "name_full": "Em\u0026Co",
    "legal_form": "BVB\u0410",
    "_kbo_filled_from_list": true
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Erhan Maksutogullari",
    "org_rep_person_name": null,
    "person_role_at_subject": "bestuurder"
  },
  "co_filed_documents": []
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameNL EM&CO
Registration history
  1. 05-09-2025 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative