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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
E&M CONSTRUCT from Deinze, company number BE0844066482, closed financial year 2025 with a result of € -2.4 million after tax. For that financial year E&M CONSTRUCT recorded a gross margin of € -1.9 million and equity of € -3.8 million. Compared with financial year 2024, the result moved from € -471,198 to € -2.4 million. 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 20, 2026.
€ -3.8 million
▼ € 2.4 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.4 million
▼ 414 % more loss than in 2024
Profit after tax over the fiscal year.
€ 36,595
▲ € 33,468 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -3.9 million.
Debts at end 2025
€ 4.8 million
▼ 47% vs 2024
Loans from banks and other lenders, long and short.
€ 2,927
▼ 98% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 26,182
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -82,546 | € -32,397 | € 73,805 | € -1,908,078 | ▼ € 2 million |
| Profit after taxes | € -330,095 | € -404,854 | € -471,198 | € -2,419,763 | ▼ € 1.9 million |
| Equity | € -533,230 | € -938,084 | € -1,409,282 | € -3,829,045 | ▼ € 2.4 million |
| Total debts | € 11,469,462 | € 11,843,137 | € 12,452,121 | € 9,337,565 | ▼ 25% |
| Cash | € 152,354 | € 422 | € 3,127 | € 36,595 | ▲ € 33,468 |
| Land & buildings | - | - | € 722,738 | € 4,584,045 | ▲ € 3.9 million |
| Retained profit | € -613,830 | € -1,018,684 | € -1,489,882 | € -3,909,645 | ▼ € 2.4 million |
| Bank debt | € 9,001,470 | € 9,001,470 | € 9,001,470 | € 4,751,000 | ▼ 47% |
| Balance sheet total | € 10,936,232 | € 10,905,053 | € 11,042,839 | € 5,508,520 | ▼ 50% |
Key figures of E&M CONSTRUCT, 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 E&M CONSTRUCT?
What happened at E&M CONSTRUCT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- WALDER DEVELOPMENT stepped down as director. NBB
- Kastellum stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.4 million. Source: NBB ↗
- Kastellum became a director. NBB
- WALDER DEVELOPMENT became a director. NBB
- New establishment in Meise. KBO
- Start of the company according to the CBE. KBO
In short
From € 330,095 loss in 2022 to € 2.4 million loss in 2025.
Paid € 1,908 in corporate taxes since 2022.
Management
The stake of WALDER DEVELOPMENT, ECV, IDEVE, METAL 107 comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
E&M CONSTRUCTThe shares are held by WALDER DEVELOPMENT (100%), ECV (50%), IDEVE (20%) and METAL 107 (14%).
Directors
According to the 2025 annual accounts
Managing director · represented by Wilfried Martens
Also active at: CINE RIALTO, Clarenhof Constructie, Rialto Projects, Caro Technology, IDEVE, E&M PROJECTS, Stuivenberg Constructie
since 2022 · until 2032
Director · represented by Dimitri Martens
Also active at: WALDER DEVELOPMENT, SEHO INVEST, UMANIS, Senior Homes Holding & Management, IDEVE, E&M PROJECTS, Nobu Immo
since 2026 · until 2032
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Vinktstraat 1 box A
9800 Deinze
Nieuwenrodestraat 58
1861 Meise
Active since 5 April 2012
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →WALDER DEVELOPMENT same network
€ 141,287 gross margin · 2025
CINE RIALTO same network
€ -10,676 gross margin · 2025
Rialto Projects same network
€ 76,151 gross margin · 2025
SH GROEP same network
€ 381,313 gross margin · 2025
Caro Technology same network
€ 10,908 gross margin · 2025
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0844.066.482
- VAT number
- BE 0844.066.482
- Registered office
- Vinktstraat 1 bus A, 9800 Deinze
- Names & denominations
- E&M CONSTRUCT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 March 2012
- Peppol
- Active · Active since 11 Dec 2025
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Verhuur en exploitatie van sociale woningen