Using photoemission electron microscopy in combination with x-ray magnetic circular dichroism, element selective magnetic domain images have been obtained from single-crystalline Co/FeMn and FeMn/Co bilayers epitaxially grown on a Cu(001) single crystal. The contact with ferromagnetic Co leads to the observation of a net magnetic moment in Fe and Mn, independently of the paramagnetic or antiferromagnetic state of the FeMn thin films. Only a small fraction of this moment might mediate the magnetic interaction at the interface, and thus be responsible for the exchange bias effect.