Kemax
ActiveSummary
Kemax has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €574k and a net result of €211k. Equity is growing by ~36.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 8966 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 3.6 against 5.43 in 2023; short-term debt: 24.6% and cash: 54% of total assets), and 24.6% 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+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2024Solvency, return and age of the figures
Solvency
75.4%
Return on assets
27.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
12 d early
2022
53 d early
2021
33 d early
2020
30 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€574k▲ 12.4%
2023 · €511k
2020: €81klowest in 5 years
2021: €205k▲ +152% vs 2020
2022: €361k▲ +75.8% vs 2021
2023: €511k▲ +41.7% vs 2022
2024: €574k▲ +12.4% vs 2023highest in 5 years
2020 → 2024
Total assets
€761k▲ 26.7%
2023 · €601k
2020: €176klowest in 5 years
2021: €354k▲ +101% vs 2020
2022: €502k▲ +41.8% vs 2021
2023: €601k▲ +19.7% vs 2022
2024: €761k▲ +26.7% vs 2023highest in 5 years
2020 → 2024
Net result
€211k▲ 40.5%
2023 · €150k
2020: €78klowest in 5 years
2021: €124k▲ +57.6% vs 2020
2022: €155k▲ +25.7% vs 2021
2023: €150k▼ -3.3% vs 2022
2024: €211k▲ +40.5% vs 2023highest in 5 years
2020 → 2024
Working capital
€488k▲ 22.3%
2023 · €399k
2020: €-7klowest in 5 years
2021: €138k▲ +2024% vs 2020
2022: €223k▲ +61.8% vs 2021
2023: €399k▲ +79.0% vs 2022
2024: €488k▲ +22.3% vs 2023highest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€81k-€205k▲ 152%€361k▲ 75.8%€511k▲ 41.7%€574k▲ 12.4%
2020: €81klowest in 5 years
2021: €205k▲ +152% vs 2020
2022: €361k▲ +75.8% vs 2021
2023: €511k▲ +41.7% vs 2022
2024: €574k▲ +12.4% vs 2023highest in 5 years
Operating result€112k-€178k▲ 59.3%€214k▲ 20.6%€207k▼ 3.2%€270k▲ 30.2%
2020: €112klowest in 5 years
2021: €178k▲ +59.3% vs 2020
2022: €214k▲ +20.6% vs 2021
2023: €207k▼ -3.2% vs 2022
2024: €270k▲ +30.2% vs 2023highest in 5 years
Net result€78k-€124k▲ 57.6%€155k▲ 25.7%€150k▼ 3.3%€211k▲ 40.5%
2020: €78klowest in 5 years
2021: €124k▲ +57.6% vs 2020
2022: €155k▲ +25.7% vs 2021
2023: €150k▼ -3.3% vs 2022
2024: €211k▲ +40.5% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 30% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €761k
Fixed assets
€87k ▼ 22.8%
Current assets
€675k ▲ 38.0%
Equity and liabilities €761k
Equity
€574k ▲ 12.4%
Debt
€187k ▲ 108%
Debt's share of the balance-sheet total rises from 15.0% to 24.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€296k▲
2023 · €233k
Cash flow
€237k▲
2023 · €176k
Current ratio
3.60▼
2023 · 5.43
Debt to equity
0.33▲
2023 · 0.18
ROE
36.8%▲
2023 · 29.4%
ROA
27.7%▲
2023 · 25.0%
Interest coverage
819.53▲
2023 · 124.39
Debt ≤ 1 year
€187k▲
2023 · €90k
Income taxes
€67k▲
2023 · €55k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€601k€761k▲
Fixed assets21/28€112k€87k▼
Tangible fixed assets22/27€112k€87k▼
Furniture and vehicles24€30k€12k▼
Other tangible fixed assets26€83k€74k▼
Current assets29/58€489k€675k▲
Amounts receivable within one year40/41€35k€10k▼
Trade receivables40€25k€0▼
Other amounts receivable41€10k€10k▲
Current investments50/53€351k€251k▼
Cash at bank and in hand54/58€103k€411k▲
Deferred charges and accrued income490/1€624€2k▲
Equity and liabilities
Total equity and liabilities10/49€601k€761k▲
Equity10/15€511k€574k▲
Contributions10/11€3k€3k=
Reserves13€508k€571k▲
Tax-exempt reserves132€63k€126k▲
Distributable reserves133€445k€445k=
Profit (loss) carried forward14-€0
Amounts payable17/49€90k€187k▲
Amounts payable within one year42/48€90k€187k▲
Financial debts43€99€99=
Credit institutions430/8€99€99=
Trade debts44€57k€2k▼
Suppliers440/4€57k€2k▼
Taxes, remuneration and social security45€18k€41k▲
Taxes450/3€16k€41k▲
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€15k€144k▲
Accrued charges and deferred income492/3-€100
Income statement
Code20232024
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€26k=
Other operating charges640/8€499€623▲
Gross operating margin9900€234k€296k▲
Operating profit (loss)9901€207k€270k▲
Financial income75/76B-€8k
Recurring financial income75-€8k
Financial charges65/66B€2k€361▼
Recurring financial charges65€2k€361▼
Profit (loss) for the period before taxes9903€206k€278k▲
Income taxes67/77€55k€67k▲
Profit (loss) for the period9904€150k€211k▲
Transfer to tax-exempt reserves689€63k€63k=
Profit (loss) for the period to be appropriated9905€87k€148k▲
Appropriation of the result
Profit (loss) to be appropriated9906€87k€148k▲
Transfer to equity691/2€87k€0▼
To other reserves6921€87k€0▼
Profit to be distributed694/7-€148k
Return on contributions (dividend)694-€148k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €812 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €20k | €22k | €26k | €26k | = |
| Other operating charges640/8 | - | €111 | €460 | €499 | €623 | ▲ 24.8% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €127k | €198k | €237k | €234k | €296k | ▲ 26.9% |
| Operating profit (loss)9901 | €112k | €178k | €214k | €207k | €270k | ▲ 30.2% |
| Financial income75/76B | - | €0 | - | - | €8k | - |
| Recurring financial income75 | €0 | €0 | - | - | €8k | - |
| Financial charges65/66B | - | €2k | €145 | €2k | €361 | ▼ 80.7% |
| Recurring financial charges65 | €196 | €2k | €145 | €2k | €361 | ▼ 80.7% |
| Profit (loss) for the period before taxes9903 | €111k | €176k | €214k | €206k | €278k | ▲ 35.3% |
| Income taxes67/77 | €33k | €52k | €59k | €55k | €67k | ▲ 21.2% |
| Profit (loss) for the period9904 | €78k | €124k | €155k | €150k | €211k | ▲ 40.5% |
| Transfer to tax-exempt reserves689 | - | - | - | €63k | €63k | = |
| Profit (loss) for the period to be appropriated9905 | €78k | €124k | €155k | €87k | €148k | ▲ 69.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €176k | €354k | €502k | €601k | €761k | ▲ 26.7% |
| Fixed assets21/28 | €89k | €69k | €138k | €112k | €87k | ▼ 22.8% |
| Tangible fixed assets22/27 | €89k | €69k | €138k | €112k | €87k | ▼ 22.8% |
| Furniture and vehicles24 | - | €69k | €47k | €30k | €12k | ▼ 58.3% |
| Other tangible fixed assets26 | - | - | €91k | €83k | €74k | ▼ 10.1% |
| Current assets29/58 | €88k | €285k | €364k | €489k | €675k | ▲ 38.0% |
| Amounts receivable within one year40/41 | €318 | €0 | €9k | €35k | €10k | ▼ 70.4% |
| Trade receivables40 | - | - | €9k | €25k | €0 | ▼ 100% |
| Other amounts receivable41 | - | €0 | €240 | €10k | €10k | ▲ 5.8% |
| Current investments50/53 | - | - | - | €351k | €251k | ▼ 28.5% |
| Cash at bank and in hand54/58 | €87k | €284k | €352k | €103k | €411k | ▲ 300% |
| Deferred charges and accrued income490/1 | - | €602 | €3k | €624 | €2k | ▲ 289% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €176k | €354k | €502k | €601k | €761k | ▲ 26.7% |
| Equity10/15 | €81k | €205k | €361k | €511k | €574k | ▲ 12.4% |
| Contributions10/11 | - | €3k | €3k | €3k | €3k | = |
| Reserves13 | €78k | €202k | €358k | €508k | €571k | ▲ 12.4% |
| Tax-exempt reserves132 | - | - | - | €63k | €126k | ▲ 100% |
| Distributable reserves133 | - | €202k | €358k | €445k | €445k | = |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €95k | €149k | €141k | €90k | €187k | ▲ 108% |
| Amounts payable within one year42/48 | €95k | €147k | €141k | €90k | €187k | ▲ 108% |
| Financial debts43 | - | - | - | €99 | €99 | = |
| Credit institutions430/8 | - | - | - | €99 | €99 | = |
| Trade debts44 | €5k | €33k | €68k | €57k | €2k | ▼ 97.0% |
| Suppliers440/4 | - | €33k | €68k | €57k | €2k | ▼ 97.0% |
| Taxes, remuneration and social security45 | - | €64k | €74k | €18k | €41k | ▲ 132% |
| Taxes450/3 | - | €64k | €74k | €16k | €41k | ▲ 159% |
| Remuneration and social security454/9 | - | - | - | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €50k | €0 | €15k | €144k | ▲ 862% |
| Accrued charges and deferred income492/3 | - | €1k | €0 | - | €100 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78k | €124k | €155k | €150k | €211k | ▲ 40.5% |
| + Depreciation and write-downs630 | €10k | €20k | €22k | €26k | €26k | = |
| Operating cash flow (approximation) | €89k | €144k | €178k | €176k | €237k | ▲ 34.6% |
| Investment in fixed assets (approximation) | - | €0 | €-91k | €0 | €0 | - |
| Change in cash | - | €198k | €68k | €-249k | €309k | ▲ 224% |
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
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €211k ▲40.5%
Operating result €270k, net result €211k, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 5.43
Current ratio from 2.58 to 5.43; short-term debt falls from €141k to €90k.
31-12
Financial
Equity above €500kEq €511k ▲41.7%
4 profitable years in a row build equity to €511k.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 1.93
Current ratio from 0.92 to 1.93.
31-12
Financial
Equity above €200kEq €205k ▲152%
2 profitable years in a row build equity to €205k.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Brugge · 1 establishment unit since 2019
Ground area
224 m²
Building footprint
93 m²
Volume, LiDAR
958 m³
Parcel 31512B0139/00H003, Flanders · tallest building 15.4 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kemax
since 20192.295.949.517
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31512B0139/00H003 | Flanders | 224 m² | 1 · 93 m² | 15.4 m · 4 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 13,417 companies in sector 73300 we hold annual accounts for 6,898. 3,956 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
Founded05-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.