Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 22 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2024.
Financials
Financial year 2025
EMMAT from Brussel, company number BE0438704967, closed financial year 2025 with a result of € 2.2 million after tax. For that financial year EMMAT recorded a gross margin of € 4 million and equity of € 318,453. Compared with financial year 2024, the result moved from € 46,985 to € 2.2 million. Profitable, and profit is growing. The buffer shrank hard: equity is 63 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ 318,453
▼ 63% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.2 million
▲ € 2.2 million vs 2024
Profit after tax over the fiscal year.
€ 634,781
▲ 262% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 2.8 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
12.4
Average over the fiscal year, from the social balance sheet.
€ 677,295
€ 54,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 554,179
▲ € 553,056 vs 2024
Of which on lease € 425,971.
Debts at end 2025
€ 4.4 million
€ 142,667 is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 2.1 million
▲ € 2.1 million vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 884,544
▲ € 880,035 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 364,437 | € 404,480 | € 149,180 | € 4,027,247 | ▲ € 3.9 million |
| Profit after taxes | € 212,065 | € 226,140 | € 46,985 | € 2,210,030 | ▲ € 2.2 million |
| Equity | € 613,869 | € 811,438 | € 858,423 | € 318,453 | ▼ 63% |
| Total debts | € 318,707 | € 136,295 | € 8,305 | € 7,389,346 | ▲ € 7.4 million |
| Cash | € 92,502 | € 39,456 | € 175,529 | € 634,781 | ▲ 262% |
| Land & buildings | € 813,390 | € 730,504 | € 681,041 | € 238,735 | ▼ 65% |
| Retained profit | € 518,082 | € 715,651 | € 762,636 | € 222,666 | ▼ 71% |
| Dividend | € 0 | € 28,571 | € 0 | € 2,750,000 | |
| Bank debt | € 43,037 | € 19,556 | € 0 | € 4,355,703 | |
| Balance sheet total | € 932,576 | € 947,733 | € 866,728 | € 7,707,799 | ▲ € 6.8 million |
| Employees (FTE) | - | - | - | 12.4 |
Key figures of EMMAT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to EMMAT?
What happened at EMMAT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Christian Gökinan stepped down as director. NBB
- New establishment in Brussel. KBO
- New annual accounts for financial year 2025: profit of € 2.2 million (▲ € 2.2 million vs 2024). Source: NBB ↗
- Christian Gökinan became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 212,065 profit in 2022 to € 2.2 million profit in 2025.
Paid € 1 million in corporate taxes since 2022.
Best year ever: 2025, with € 2.2 million profit.
On average € 324,800 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of ILONATO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
EMMATThe shares are held by ILONATO (100%).
Directors
According to the 2025 annual accounts
Christian Gökinan
Director
since 2024 · until 2030
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Havenlaan 71
1000 Brussel
Havenlaan 75-77
1000 Brussel
Active since 31 August 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0438.704.967
- VAT number
- BE 0438.704.967
- Registered office
- Havenlaan 71, 1000 Brussel
- Names & denominations
- EMMAT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 October 1989
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Detailhandel in ijzerwaren, bouwmaterialen, verf en glas (algemeen assortiment)
Groothandel in bouwmaterialen, algemeen assortiment
Verhuur en lease van machines en installaties voor de bouwnijverheid en de weg- en waterbouw