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 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
EMSD from Malmedy, company number BE0807009316, closed financial year 2025 with a result of € 175,019 after tax. For that financial year EMSD recorded a gross margin of € 2.1 million and equity of € 1.5 million. Compared with financial year 2024, the result moved from € 178,267 to € 175,019. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 28, 2026.
€ 1.5 million
▲ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 175,019
▼ 2% vs 2024
Profit after tax over the fiscal year.
€ 75,126
▼ 67% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.1 million.
People and assets in 2025
20.1
▲ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.1 million
▲ 24% vs 2024
€ 56,200 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.
€ 1.6 million
▲ 39% vs 2024
Of which on lease € 1.5 million.
Debts at end 2025
€ 4.5 million
▲ 19% vs 2024
€ 465,723 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 1.2 million
▼ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 113,849
▼ 20% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,387,453 | € 1,430,179 | € 1,886,099 | € 2,105,302 | ▲ 12% |
| Profit after taxes | € 121,150 | € 90,896 | € 178,267 | € 175,019 | ▼ 2% |
| Equity | € 1,045,344 | € 1,114,558 | € 1,267,192 | € 1,461,344 | ▲ 15% |
| Total debts | € 4,551,894 | € 4,233,728 | € 5,245,916 | € 5,959,984 | ▲ 14% |
| Cash | € 285,607 | € 141,192 | € 224,826 | € 75,126 | ▼ 67% |
| Land & buildings | € 1,395,358 | € 1,564,457 | € 1,504,618 | € 1,582,595 | ▲ 5% |
| Retained profit | € 669,057 | € 759,953 | € 938,220 | € 1,113,239 | ▲ 19% |
| Bank debt | € 3,027,393 | € 2,652,542 | € 3,765,134 | € 4,481,127 | ▲ 19% |
| Balance sheet total | € 5,623,835 | € 5,369,438 | € 6,532,765 | € 7,447,364 | ▲ 14% |
| Employees (FTE) | 16.4 | 16 | 18.6 | 20.1 | ▲ 1.5 |
Key figures of EMSD, 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 EMSD?
What happened at EMSD in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 175,019 (▼ 2% vs 2024). Source: NBB ↗
- Darius ONITA-LEHNEN became a director. NBB
- Julien DIFFELS became a director. NBB
- Michel DIFFELS became a director. NBB
- New establishment in Malmedy. KBO
- Start of the company according to the CBE. KBO
- New establishment in Malmedy. KBO
In short
From € 121,150 profit in 2022 to € 175,019 profit in 2025.
Paid € 98,973 in corporate taxes since 2022.
Best year ever: 2024, with € 178,267 profit.
On average € 104,700 of value added per employee in 2025.
Management
Behind EMSD are Darius ONITA-LEHNEN, Julien DIFFELS and Michel DIFFELS. The shares are held by Julien DIFFELS (68%), Michel DIFFELS (24%) and Darius ONITA-LEHNEN (8%). It owns 100% of SODIVIN, 10% of SCDI and 8% of COURANT D'AIR itself.
Directors
According to the 2025 annual accounts
Darius ONITA-LEHNEN
Director
since 2023
Julien DIFFELS
Managing director
Owns 68% directly
since 2023
Michel DIFFELS
Chairman of the board
since 2023
Shareholders
Julien DIFFELS · director
68%
Michel DIFFELS
24%
Darius ONITA-LEHNEN
8%
Participations
Establishments
Establishment units
Physical locations of this company
Avenue de Norvège 41
4960 Malmedy
Boussire - A la Fontaine 13
4960 Malmedy
Active since 1 October 2008
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
OVH, FR
Website info
Features
Security
Details
- Company number
- 0807.009.316
- VAT number
- BE 0807.009.316
- Registered office
- Avenue de Norvège 41, 4960 Malmedy
- Names & denominations
- EMSD
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 October 2008
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- emsd-metal.be
- Activities · NACE
Smeden van metaal
Algemene elektrotechnische installatiewerken
Productie van elektriciteit uit niet-hernieuwbare bronnen
Vervaardiging van hydraulische en pneumatische apparatuur
Schrijnwerk
Bouw van civieltechnische werken voor elektriciteit en telecommunicatie
Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit