ACTIVE

EMAL

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Financial year 2025 · closed on 30/06/2025

Net result

3,2 M €

-39.1% YoY

Gross margin

168,6 k €

+49.2% YoY

Equity

37,2 M €

+5.8% YoY

What does EMAL do?

EMAL is a Private limited company incorporated in 2000. Its main activity is: Wholesale of watches and jewellery. Its registered office is in Kruisem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0473.313.280

Incorporation

20/11/2000

Legal form

Private limited company

Registered office

Industriezone(KRU) 18
9770 Kruisem · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

30/06/2025

Activities (NACE)

46480Wholesale of watches and jewellery· main 46480Wholesale of watches and jewellery 74142Specialised design activities 70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	168,6 k €	+49.2%	113 k €	-80.2%	571,7 k €	-43.8%	1 M €	+440%	188,4 k €	-49.1%	370 k €	+8.5%	340,9 k €	+288%	-181,1 k €	-184%	214,9 k €	-21.9%	275,3 k €	-17.5%	333,7 k €	-12.3%	380,7 k €	-38.4%	618,1 k €	+118%	283,2 k €	+376%	59,5 k €	-92.1%	756,5 k €	+39.9%	540,8 k €	+4.6%	516,9 k €
EBITDA	166 k €	+69.1%	98,2 k €	-78.8%	462,8 k €	-51.5%	955,1 k €	+816%	104,2 k €	-71.6%	367,4 k €	+25.0%	293,9 k €	+261%	-183,1 k €	-186%	213,1 k €	-21.3%	270,6 k €	-18.1%	330,6 k €	-11.3%	372,8 k €	-39.1%	612,3 k €	+119%	279,1 k €	+393%	56,7 k €	-92.4%	750,5 k €	+39.6%	537,4 k €	+4.2%	515,6 k €
Operating result	113,2 k €	+124%	50,6 k €	-88.3%	431,5 k €	-54.5%	947,8 k €	+1088%	79,8 k €	-76.8%	343,6 k €	+33.4%	257,5 k €	+219%	-216,7 k €	-210%	197,2 k €	-22.6%	254,7 k €	-21.3%	323,7 k €	-5.8%	343,7 k €	-40.4%	577,1 k €	+133%	247,9 k €	+874%	25,5 k €	-96.5%	719,2 k €	+42.0%	506,4 k €	-1.2%	512,7 k €
Net result	3,2 M €	-39.1%	5,2 M €	+21.3%	4,3 M €	+131%	1,9 M €	+70.8%	1,1 M €	-3.7%	1,1 M €	-36.9%	1,8 M €	+62.9%	1,1 M €	+103%	541,5 k €	-92.6%	7,4 M €	+483%	1,3 M €	-54.9%	2,8 M €	+518%	452,7 k €	+2.9%	439,9 k €	+104%	215,6 k €	-76.0%	898,2 k €	+11.0%	809,2 k €	-92.4%	10,7 M €
Balance sheet
Equity	37,2 M €	+5.8%	35,1 M €	+8.0%	32,5 M €	+9.2%	29,8 M €	+8.9%	27,3 M €	+4.1%	26,3 M €	+0.5%	26,1 M €	+7.4%	24,3 M €	+4.7%	23,2 M €	+1.9%	22,8 M €	+47.0%	15,5 M €	+8.9%	14,2 M €	+23.3%	11,6 M €	+2.2%	11,3 M €	+4.1%	10,9 M €	+2.0%	10,6 M €	+9.2%	9,7 M €	-21.8%	12,5 M €
Total assets	38,3 M €	+6.3%	36 M €	+6.1%	33,9 M €	+10.8%	30,6 M €	+8.2%	28,3 M €	+2.9%	27,5 M €	+0.3%	27,4 M €	+4.5%	26,2 M €	+3.9%	25,2 M €	+9.0%	23,1 M €	+47.7%	15,7 M €	+7.8%	14,5 M €	+22.2%	11,9 M €	+5.1%	11,3 M €	+4.0%	10,9 M €	+1.9%	10,7 M €	+8.7%	9,8 M €	-21.8%	12,6 M €
Cash	850,9 k €	+35.0%	630,1 k €	-77.7%	2,8 M €	-46.8%	5,3 M €	-20.1%	6,6 M €	+107%	3,2 M €	+129%	1,4 M €	+51.0%	929,3 k €	-88.0%	7,7 M €	+1633%	446,2 k €	-74.8%	1,8 M €	+84.6%	959,2 k €	+9.2%	878,3 k €	-39.3%	1,4 M €	+19.3%	1,2 M €	+88.1%	645 k €	-75.0%	2,6 M €	+1146%	207 k €
Debts	1,1 M €	+26.3%	873,2 k €	-37.8%	1,4 M €	+67.8%	836 k €	-9.8%	926,9 k €	-24.1%	1,2 M €	-3.8%	1,3 M €	-32.2%	1,9 M €	-5.8%	2 M €	+482%	340,8 k €	+110%	162,6 k €	-43.8%	289,5 k €	-15.9%	344,3 k €	+2015%	16,3 k €	-10.4%	18,2 k €	-48.1%	35 k €	-56.6%	80,6 k €	-17.2%	97,3 k €
Other
Workforce	–		0,0 ETP	-100%	0,2 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 9 ended

Active mandates

Cristiana Gouverneyre

Director · since 18 novembre 2014

Active

Jean Gouverneyre

Director · since 14 novembre 2000

Active

Ended mandates

Cristiana GOUVERNEYRE

Manager · since 18 novembre 2014

Ended

Cristiana MARCOVICI

Manager · since 18 novembre 2014

Ended

Jean GOUVERNEYRE

Manager · since 14 novembre 2000

Ended

Jean Marcel GOUVERNEYRE

Manager · since 14 novembre 2000

Ended

At this address

Other companies at this address

Company	CBE no.
REAZN+● Active	0879.803.658

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/01/2026	30/01/2025	29/01/2024	27/01/2023	28/01/2022	18/01/2021
General meeting	28/12/2025	24/12/2024	17/11/2023	18/11/2022	19/11/2021	20/11/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	28/12/2025	30/01/2026	Dutch	PDF
Abridged model	30/06/2024	24/12/2024	30/01/2025	Dutch	PDF
Abridged model	30/06/2023	17/11/2023	29/01/2024	Dutch	PDF
Abridged model	30/06/2022	18/11/2022	27/01/2023	Dutch	PDF
Abridged model	30/06/2021	19/11/2021	28/01/2022	Dutch	PDF
Abridged model	30/06/2020	20/11/2020	18/01/2021	Dutch	PDF
Abridged model	30/06/2019	09/01/2020	28/02/2020	Dutch	PDF
Abridged model	30/06/2018	16/11/2018	21/12/2018	Dutch	PDF
Abridged model	30/06/2017	20/12/2017	18/01/2018	Dutch	PDF
Abridged model	30/06/2016	15/12/2016	22/12/2016	Dutch	PDF
Abridged model	30/06/2015	22/12/2015	21/01/2016	Dutch	PDF
Abridged model	30/06/2014	21/11/2014	17/12/2014	Dutch	PDF
Abridged model	30/06/2013	30/12/2013	31/01/2014	Dutch	PDF
Abridged model	30/06/2012	16/11/2012	13/12/2012	Dutch	PDF
Abridged model	30/06/2011	30/12/2011	12/01/2012	Dutch	PDF
Abridged model	30/06/2010	19/11/2010	03/12/2010	Dutch	PDF
Abridged model	30/06/2009	20/11/2009	17/12/2009	Dutch	PDF
Abridged model	30/06/2008	29/11/2008	29/12/2008	Dutch	PDF
Abridged model	30/06/2007	07/12/2007	03/01/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 9 ended

Active mandates

Cristiana Gouverneyre

Director · since 18 novembre 2014

Active

Jean Gouverneyre

Director · since 14 novembre 2000

Active

Ended mandates

Cristiana GOUVERNEYRE

Manager · since 18 novembre 2014

Ended

Cristiana MARCOVICI

Manager · since 18 novembre 2014

Ended

Jean GOUVERNEYRE

Manager · since 14 novembre 2000

Ended

Jean Marcel GOUVERNEYRE

Manager · since 14 novembre 2000

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/01/2025
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Mandates24/03/2020
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates04/11/2016
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/12/2014
DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other15/04/2008
Statutenwijziging
PDF
Other10/03/2008
*
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20253,2 M €↓
2024
Annual accounts 20245,2 M €↑
2023
Annual accounts 20234,3 M €↑
2022
Annual accounts 20221,9 M €↑
2020
Annual accounts 20201,1 M €↓
2019
Annual accounts 20191,1 M €↓
2018
Annual accounts 20181,8 M €↑
2017
Annual accounts 20171,1 M €↑
2016
Annual accounts 2016541,5 k €↓
2015
Annual accounts 20157,4 M €↑
2014
Annual accounts 20141,3 M €↓
2013
Annual accounts 20132,8 M €↑
2012
Annual accounts 2012452,7 k €↑
2011
Annual accounts 2011439,9 k €↑
2010
Annual accounts 2010215,6 k €↓
2009
Annual accounts 2009898,2 k €↑
2008
Annual accounts 2008809,2 k €↓
2007
Annual accounts 200710,7 M €
20/11/2000
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

EMAL

Overview

What does EMAL do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline