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 5 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
EMARCA from Verviers, company number BE0875054519, closed financial year 2025 with a result of € -1.3 million after tax. For that financial year EMARCA recorded a gross margin of € -5,014 and equity of € -1.5 million. Compared with financial year 2024, the result moved from € -29,903 to € -1.3 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 October 16, 2026.
€ -1.5 million
▼ € 1.3 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.3 million
▼ 4304 % more loss than in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.6 million.
Debts at end 2025
€ 1.3 million
Loans from banks and other lenders, long and short.
€ 5,209
▼ 79% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 24,732 | € 19,607 | € -4,190 | € -5,014 | ▼ € 824 |
| Profit after taxes | € -26,364 | € -49,746 | € -29,903 | € -1,316,934 | ▼ € 1.3 million |
| Equity | € -113,270 | € -163,016 | € -192,919 | € -1,509,853 | ▼ € 1.3 million |
| Total debts | € 2,361,049 | € 2,400,821 | € 2,425,202 | € 2,459,360 | ▲ 1% |
| Land & buildings | € 950,050 | € 908,796 | € 867,542 | € 826,287 | ▼ 5% |
| Retained profit | € -175,770 | € -225,516 | € -255,419 | € -1,572,353 | ▼ € 1.3 million |
| Bank debt | € 1,252,890 | € 1,307,511 | € 1,322,490 | € 1,324,410 | |
| Balance sheet total | € 2,247,779 | € 2,237,805 | € 2,232,283 | € 949,507 | ▼ 57% |
Key figures of EMARCA, 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 EMARCA?
What happened at EMARCA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1.3 million. filed late Source: NBB ↗
- Start of the company according to the CBE. KBO
- Christian ZANDONA became a director. NBB
- F. NOIRFALISE ET FILS SPRL became a director. NBB
- Erika ARGÜELLES LICEA became a director. NBB
In short
From € 26,364 loss in 2022 to € 1.3 million loss in 2025.
Management
Behind EMARCA are F. NOIRFALISE ET FILS SPRL, Christian ZANDONA and Erika ARGÜELLES LICEA. F. NOIRFALISE ET FILS SPRL is also behind GOLF DU HARAS.
Directors
According to the 2025 annual accounts
Director · represented by Christian ZANDONA
Also active at: GOLF DU HARAS
since 2005
Christian ZANDONA
Managing director
since 2005
Erika ARGÜELLES LICEA
Director
since 2005
Establishments
Establishment units
Physical locations of this company
Rue de Bellaire 25
4802 Verviers
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
- 0875.054.519
- VAT number
- BE 0875.054.519
- Registered office
- Rue de Bellaire 25, 4802 Verviers
- Names & denominations
- EMARCA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 July 2005
- Peppol
- Not registered