Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
EMRA from Liège, company number BE0695570271, closed financial year 2025 with a result of € -27,625 after tax. For that financial year EMRA recorded a gross margin of € -688 and equity of € -50,356. Compared with financial year 2024, the result moved from € -23,253 to € -27,625. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 3, 2026.
€ -50,356
▼ € 27,625 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -27,625
▼ 19 % more loss than in 2024
Profit after tax over the fiscal year.
€ 700
▼ 93% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -68,956.
People and assets in 2025
€ 4,870
▼ 67% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 45,709
▼ 18% vs 2024
€ 10,212 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 332
▼ 78% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 915
▲ 102% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 18,587 | € 11,085 | € 2,088 | € -688 | ▼ € 2,777 |
| Profit after taxes | € 5,998 | € -2,513 | € -23,253 | € -27,625 | ▼ € 4,372 |
| Equity | € 3,034 | € 522 | € -22,731 | € -50,356 | ▼ € 27,625 |
| Total debts | € 367,827 | € 316,606 | € 470,981 | € 687,540 | ▲ 46% |
| Cash | € 72,565 | € 21,665 | € 10,189 | € 700 | ▼ 93% |
| Land & buildings | € 84,231 | € 79,942 | € 294,865 | € 278,792 | ▼ 5% |
| Retained profit | € -15,566 | € -18,078 | € -41,331 | € -68,956 | ▼ € 27,625 |
| Bank debt | € 75,190 | € 65,552 | € 55,726 | € 45,709 | ▼ 18% |
| Balance sheet total | € 370,861 | € 317,127 | € 448,249 | € 637,184 | ▲ 42% |
Key figures of EMRA, 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 EMRA?
What happened at EMRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 27,625. Source: NBB ↗
- New establishment in Liège. KBO
- Michaël MARKOWICK became a director. NBB
- New establishment in Liège. KBO
- Rafaella SZABO became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 5,998 profit in 2022 to € 27,625 loss in 2025.
Paid € 664 in corporate taxes since 2022.
Best year ever: 2022, with € 5,998 profit.
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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
Behind EMRA are Rafaella SZABO and Michaël MARKOWICK.
Directors
According to the 2025 annual accounts
Rafaella SZABO
Manager, Director
since 2018
Michaël MARKOWICK
Director
since 2018
Establishments
Establishment units
Physical locations of this company
Quai Saint-Léonard 36i
4000 Liège
Quai Saint-Léonard 36 box I
4000 Liège
Active since 27 April 2018
Place de la République-Française 35
4000 Liège
Active since 1 January 2020
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0695.570.271
- VAT number
- BE 0695.570.271
- Registered office
- Quai Saint-Léonard 36i, 4000 Liège
- Names & denominations
- EMRA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 April 2018
- Peppol
- Active · Active since 4 Feb 2026
- Activities · NACE
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