Emapa
ActiveSummary
Emapa has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €117k and a net result of €91k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 11% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+15
Solvency29▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.13 against 1.23 in 2024; short-term debt: 60.6% and cash: 5.8% of total assets), and 95.9% of the assets are financed with debt.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
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
4.1%
Return on assets
3.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 8692 sector peers (2025).
NBB · sector comparisonPosition among 8692 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-04-2026, 120 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
120 d early
2024
2 d early
2023
43 d early
2022
26 d early
2021
58 d early
2020
31 d late
2019
28 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Financials · fiscal year 2025, abbreviated schema
Equity
€117k▼ 35.2%
2024 · €181k
Total assets
€2.82M▲ 7.2%
2024 · €2.63M
Net result
€91k▲ 652%
2024 · €12k
Working capital
€218k▼ 31.3%
2024 · €318k
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€161k▲ 128%€164k▲ 1.9%€54k▼ 67.3%€64k▲ 19.9%€161k▲ 150%
Net result€89k▲ 138%€81k▼ 9.0%€5k▼ 93.8%€12k▲ 145%€91k▲ 652%
Equity€145k▲ 158%€166k▲ 14.6%€169k▲ 1.7%€181k▲ 7.2%€117k▼ 35.2%
Total assets€1.44M▲ 21.6%€2.82M▲ 96.3%€2.72M▼ 3.9%€2.63M▼ 3.0%€2.82M▲ 7.2%
Debt€1.03M▲ 19.3%€2.40M▲ 132%€2.28M▼ 4.7%€2.19M▼ 4.1%€2.44M▲ 11.6%
Working capital€-246k▼ 43.0%€515k€440k▼ 14.5%€318k▼ 27.8%€218k▼ 31.3%
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 2023 the operating result has climbed two years in a row; 2025 is 150% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.82M
Fixed assets
€895k ▼ 6.4%
Current assets
€1.93M ▲ 15.0%
Equity and liabilities €2.82M
Equity
€117k ▼ 35.2%
Provisions
€263k =
Debt
€2.44M ▲ 11.6%
Debt's share of the balance-sheet total rises from 83.1% to 86.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€225k▲
2024 · €126k
Cash flow
€156k▲
2024 · €74k
Current ratio
1.13▼
2024 · 1.23
Quick ratio
1.06▼
2024 · 1.19
Debt to equity
20.87▲
2024 · 12.12
ROE
78.1%▲
2024 · 6.7%
ROA
3.2%▲
2024 · 0.5%
Interest coverage
2.68▲
2024 · 1.33
Debt ≤ 1 year
€1.71M▲
2024 · €1.36M
Debt > 1 year
€731k▼
2024 · €827k
Income taxes
€44k▲
2024 · €9k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52k | €54k | €58k | €61k | €64k | ▲ 4.4% |
| Other operating charges640/8 | €7k | €8k | €7k | €8k | €8k | ▲ 3.4% |
| Gross operating margin9900 | €220k | €226k | €119k | €133k | €232k | ▲ 74.4% |
| Operating profit (loss)9901 | €161k | €164k | €54k | €64k | €161k | ▲ 150% |
| Financial income75/76B | €5k | €22k | €52k | €52k | €59k | ▲ 14.4% |
| Recurring financial income75 | €5k | €22k | €52k | €52k | €59k | ▲ 14.4% |
| Financial charges65/66B | €42k | €66k | €93k | €94k | €84k | ▼ 11.3% |
| Recurring financial charges65 | €42k | €66k | €93k | €94k | €84k | ▼ 11.3% |
| Profit (loss) for the period before taxes9903 | €124k | €121k | €12k | €22k | €136k | ▲ 530% |
| Income taxes67/77 | €35k | €40k | €7k | €9k | €44k | ▲ 373% |
| Profit (loss) for the period9904 | €89k | €81k | €5k | €12k | €91k | ▲ 652% |
| Profit (loss) for the period to be appropriated9905 | €89k | €81k | €5k | €12k | €91k | ▲ 652% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.44M | €2.82M | €2.72M | €2.63M | €2.82M | ▲ 7.2% |
| Fixed assets21/28 | €971k | €981k | €954k | €956k | €895k | ▼ 6.4% |
| Tangible fixed assets22/27 | €971k | €981k | €954k | €956k | €895k | ▼ 6.4% |
| Land and buildings22 | €954k | €966k | €939k | €946k | €890k | ▼ 6.0% |
| Plant, machinery and equipment23 | - | - | - | - | €696 | - |
| Furniture and vehicles24 | €17k | €15k | €15k | €10k | €5k | ▼ 52.4% |
| Financial fixed assets28 | - | €5 | €5 | €5 | €5 | = |
| Current assets29/58 | €468k | €1.84M | €1.76M | €1.68M | €1.93M | ▲ 15.0% |
| Amounts receivable after more than one year29 | €160k | €1.30M | €1.30M | €1.31M | €1.31M | = |
| Other amounts receivable291 | €160k | €1.30M | €1.30M | €1.31M | €1.31M | = |
| Stocks and contracts in progress3 | €175k | €134k | €68k | €53k | €113k | ▲ 116% |
| Stocks30/36 | €175k | €134k | €68k | €53k | €113k | ▲ 116% |
| Amounts receivable within one year40/41 | €94k | €319k | €298k | €204k | €313k | ▲ 53.6% |
| Trade receivables40 | €94k | €269k | €202k | €42k | €67k | ▲ 58.2% |
| Other amounts receivable41 | - | €49k | €96k | €161k | €246k | ▲ 52.4% |
| Cash at bank and in hand54/58 | €25k | €75k | €23k | €28k | €164k | ▲ 481% |
| Deferred charges and accrued income490/1 | €14k | €17k | €73k | €84k | €30k | ▼ 64.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.44M | €2.82M | €2.72M | €2.63M | €2.82M | ▲ 7.2% |
| Equity10/15 | €145k | €166k | €169k | €181k | €117k | ▼ 35.2% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €138k | €160k | €162k | €174k | €111k | ▼ 36.4% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €495 | €495 | €495 | €495 | €495 | = |
| Distributable reserves133 | €136k | €157k | €162k | €174k | €110k | ▼ 36.5% |
| Provisions and deferred taxes16 | €263k | €263k | €263k | €263k | €263k | = |
| Provisions for liabilities and charges160/5 | €263k | €263k | €263k | €263k | €263k | = |
| Other liabilities and charges164/5 | €263k | €263k | €263k | €263k | €263k | = |
| Amounts payable17/49 | €1.03M | €2.40M | €2.28M | €2.19M | €2.44M | ▲ 11.6% |
| Amounts payable after more than one year17 | €290k | €1.01M | €922k | €827k | €731k | ▼ 11.7% |
| Financial debts170/4 | €290k | €1.01M | €922k | €827k | €731k | ▼ 11.7% |
| Amounts payable within one year42/48 | €714k | €1.33M | €1.32M | €1.36M | €1.71M | ▲ 25.8% |
| Current portion of amounts payable after more than one year42 | €51k | €98k | €99k | €102k | €105k | ▲ 2.5% |
| Financial debts43 | €143k | €153k | €142k | €130k | €130k | = |
| Credit institutions430/8 | €143k | €153k | €142k | €130k | €130k | = |
| Trade debts44 | €144k | €278k | €111k | €103k | €102k | ▼ 1.8% |
| Suppliers440/4 | €144k | €278k | €111k | €103k | €102k | ▼ 1.8% |
| Advances received on contracts in progress46 | - | - | €583 | - | - | - |
| Taxes, remuneration and social security45 | €33k | €38k | €19k | €3k | €28k | ▲ 937% |
| Taxes450/3 | €33k | €38k | €19k | €3k | €28k | ▲ 937% |
| Other amounts payable47/48 | €343k | €761k | €949k | €1.02M | €1.35M | ▲ 31.8% |
| Accrued charges and deferred income492/3 | €28k | €54k | €41k | €2k | €2k | ▼ 9.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €89k | €81k | €5k | €12k | €91k | ▲ 652% |
| + Depreciation and write-downs630 | €52k | €54k | €58k | €61k | €64k | ▲ 4.4% |
| Operating cash flow (approximation) | €141k | €135k | €63k | €74k | €156k | ▲ 111% |
| Investment in fixed assets (approximation) | - | €-64k | €-31k | €-63k | €-3k | ▲ 94.9% |
| Change in cash | - | €50k | €-52k | €5k | €136k | ▲ 2,553% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €91k ▲652%
Net result €91k, the highest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 1.39
Current ratio from 0.65 to 1.39.
31-12
Financial
Equity above €150kEq €166k ▲14.6%
3 profitable years in a row build equity to €166k.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €145k ▲158%
2 profitable years in a row build equity to €145k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-53k
Net result drops to €-53k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
18-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Schoten · 1 establishment unit since 2008
Ground area
1.5 ha
Building footprint
249 m²
Volume, LiDAR
1,910 m³
Parcel 11040D0129/00C003, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
EMAPA
since 20082.172.711.017
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040D0129/00C003 | Flanders | 1.5 ha | 1 · 249 m² | 12.2 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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LJM CONCEPT
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 40,847 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
Founded22-05-2008
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.