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Morrow

Active
Public limited companyfounded 2016active for 10 yearsFrieda Saeysstraat 1, 9052 Gent, BelgiumKBO/BCE: BE 0656.997.628
Summary

The annual accounts of Morrow for financial year 2025 show a net loss of 156% of total assets and of 211% of the equity at the start of that year. The 2025 annual accounts show equity of €1.8m and a net result of -€4.2m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 76% of 872 sector peers (NACE 71, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).

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MorrowActiveChecked score 55/100
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History

On 27 June 2016, Morrow was incorporated by three natural persons, with a starting capital of €61,500.12 The capital was increased 11 times between 2016 and 2026, most recently to €8.9m.345 In 2019 the company took the name Morrow.6 The registered office moved to Zwijnaarde in 2019 and to Gent in 2025.78 Of the 9 current board members, PARTICIPATIEMAATSCHAPPIJ VLAANDEREN has served longest, since 2016.9 Total assets went from €4.7m in 2018 to €2.7m in 2025 and headcount from 5.3 to 17.2 full-time equivalents.10

  1. 1KBO (Crossroads Bank for Enterprises)
  2. 2Belgian Official Gazette, 29-06-2016
  3. 3Belgian Official Gazette, 04-08-2016
  4. 4Belgian Official Gazette, 04-09-2025
  5. 5Belgian Official Gazette, 17-04-2026
  6. 6Belgian Official Gazette, 20-11-2019
  7. 7Belgian Official Gazette, 06-02-2019
  8. 8Belgian Official Gazette, 01-08-2025
  9. 9Belgian Official Gazette, 15-06-2022
  10. 10National Bank, annual accounts 2018 and 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
20-07
NBB filing Annual accounts filed
financial year 2025 · full format
17-04
Gazette deed Appointment: Imec.xpand (director)
Capital increase · Declaration · Amendment of the articles15 facts ▸
  • General meeting, 26-03-2026
  • Other statement, “kennisname van verslaggeving, EERSTE BESLISSING” (deed in Dutch)
  • Capital increase, €2,119,998.89
  • Other statement, “opheffing voorkeurrecht, DERDE BESLISSING” (deed in Dutch)
  • Other statement, “inschrijving en volstorting nieuwe aandelen, VIERDE BESLISSING” (deed in Dutch)
  • Declaration, “volstorting kapitaalverhoging”, 2119998.89 (deed in Dutch)
  • Other statement, “vaststelling verwezenlijking kapitaalverhoging, VIJFDE BESLISSING” (deed in Dutch)
  • Other statement, “alle aandelen (bestaande en nieuw uitgegeven), gelijkstelling kapitaalvertegenwoordigende waarde” (deed in Dutch)
  • Amendment of the articles, 5
  • Capital, €8,931,392.73 (2 times)
  • Other statement, “aanname nieuwe tekst statuten, overeenstemming met beslissing tot uitgifte nieuwe soort B4 Bevoorrechte Aandelen en nieuwe aandeelhoudersovereenkomst” (deed in Dutch)
  • Capital (2 times)
  • +3 further facts in this act
2025
04-09
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Capital · Preemption waiver5 facts ▸
  • General meeting, 28-07-2025
  • Capital increase, €2,002,500
  • Capital, €6,811,393.84
  • Amendment of the articles
  • Preemption waiver, “Opheffing van het voorkeurrecht” (deed in Dutch)
01-08
Gazette deed Reappointment: Jean Pierre Bizet (director)
Registered-office move · Power of attorney6 facts ▸
  • Board meeting
  • General meeting, 11-06-2025
  • Registered-office move, Frieda Saeysstraat 1, 9052 Gent
  • Director reappointment, Jean Pierre Bizet (director)
  • Power of attorney, Nauta Dutilh (2 times)
  • Power of attorney, Bestuurders van de Vennootschap
20-06
NBB filing Annual accounts filed
financial year 2024 · abbreviated format
10-02
Gazette deed Resignations: IMEC.XPAND COMMV, CARL ZEISS VENTURE Beteiligungsgesellschaft mbH and PARTICIPATIEMAATSCHAPPIJ VLAANDEREN NV
Appointments: QBIC VENTURE PARTNERS BV (director) and TOKAI OPTECS NV (director) · Permanent representatives: DE PRYCKER Martin Louis and LEURIDAN Kurt Piet · Reappointment: BDO BEDRIJFSREVISOREN BV (statutory auditor)22 facts ▸
  • General meeting, 23-01-2025
  • Capital, €11,492,809.28
  • Capital increase, €2,002,500
  • Capital increase, €13,815,878.13
  • Capital decrease, €22,502,293.57
  • Share issue, “Inschrijvingsrechten 2025 (ESOP)”, 1792200 (deed in Dutch)
  • Director resignation, IMEC.XPAND COMMV (director)
  • Director resignation, CARL ZEISS VENTURE Beteiligungsgesellschaft mbH (director)
  • Director resignation, PARTICIPATIEMAATSCHAPPIJ VLAANDEREN NV (director)
  • Director discharge, IMEC.XPAND COMMV
  • Director discharge, CARL ZEISS VENTURE Beteiligungsgesellschaft mbH
  • Director discharge, PARTICIPATIEMAATSCHAPPIJ VLAANDEREN NV
  • +10 further facts in this act
2024
31-12
Financial Weakest financial yearnet -€6.7m
Net result drops to -€6.7m, the lowest in the series; recovery starts the following year.
12-09
Gazette deed Resignation: Soup Tech Holding B.V (director and chair of the board)
2 facts ▸
  • Board meeting, 18-07-2023
  • Director resignation, Soup Tech Holding B.V (director and chair of the board)
06-09
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Share issue · Capital7 facts ▸
  • Capital increase, €0,2
  • Share issue, “Reguliere Gewone Aandelen”, 641518 (deed in Dutch)
  • Capital, €11,492,809.28
  • Amendment of the articles
  • Power of attorney, comparant
  • Share payment, “op een bijzondere rekening”, 100% (deed in Dutch)
  • Share structure, 16465564
23-08
Gazette deed Appointment: Frederiek Ysebaert (day-to-day manager)
Resignation: Chestnut Ventures (director) · Permanent representatives: Paul Marchal, Peter Vanbekbergen and Bert Gyselinx · Capital increase11 facts ▸
  • General meeting, 31-07-2024
  • Capital increase, €2,500,000
  • Capital, €11,492,809.08
  • Director appointment, Frederiek Ysebaert (day-to-day manager)
  • Director resignation, Chestnut Ventures (director)
  • Permanent representative, Paul Marchal
  • Permanent representative, Peter Vanbekbergen
  • Permanent representative, Bert Gyselinx
  • Director appointment, Frederiek Ysebaert (director)
  • Mandate compensation, Frederiek Ysebaert
  • Pre emptive rights lifted, “Opheffing van het voorkeurrecht” (deed in Dutch)
05-07
NBB filing Annual accounts filed
financial year 2023 · abbreviated format
27-05
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Share issue · Capital8 facts ▸
  • Capital increase, €0,2
  • Share issue, “Reguliere Gewone Aandelen”, 641518 (deed in Dutch)
  • Capital, €10,240,590.41
  • Amendment of the articles
  • Power of attorney, BIZET Jean Pierre Philippe
  • Share structure, 615000, 641518
  • Share payment, “bijzondere rekening op naam van de Vennootschap bij BNP Paribas Fortis NV”, 100,00% (deed in Dutch)
  • Anti dilution exercise, 20, 8
Show earlier events
10-05
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Capital · Share issue18 facts ▸
  • General meeting, 26-04-2024
  • Capital increase, €1,311,907.86
  • Capital, €10,240,590.21
  • Share issue, “Inschrijvingsrechten 2024”, 1139750 (deed in Dutch)
  • Share issue, “Soort A2 Anti-Dilutie Inschrijvingsrechten”, 40 (deed in Dutch)
  • Share issue, “Soort B2 Anti-Dilutie Inschrijvingsrechten”, 25 (deed in Dutch)
  • Share cancellation, “Inschrijvingsrechten 2018”, 348869 (deed in Dutch)
  • Share cancellation, “Inschrijvingsrechten 2022”, 489541 (deed in Dutch)
  • Amendment of the articles
  • Power of attorney, Elke bestuurder van Morrow
  • Share class creation, “Bevoorrechte Soort B2 Aandelen, wijziging van de rechten van de bestaande soorten aandelen” (deed in Dutch)
  • Conditional capital increase, “Reguliere Gewone Aandelen, uitoefening van de Inschrijvingsrechten 2024” (deed in Dutch)
  • +6 further facts in this act
2023
20-07
NBB filing Annual accounts filed
financial year 2022 · abbreviated format
2022
31-12
Financial Liquidity more than 7 timescurrent ratio 5.84
Current ratio from 0.79 to 5.84.
31-12
Financial Equity above €5mequity €8.8m
Equity rises from -€1.4m to €8.8m.
04-08
NBB filing Annual accounts filed
financial year 2021 · abbreviated format · 4 days late
02-08
Gazette deed Permanent representatives: Thomas Beke and Paul Marchal
Appointment: Chestnut Ventures BV (day-to-day manager) · Reappointment: Chestnut Ventures BV (day-to-day manager)5 facts ▸
  • Board meeting, 08-06-2022
  • Permanent representative, Thomas Beke
  • Director appointment, Chestnut Ventures BV (day-to-day manager)
  • Director reappointment, Chestnut Ventures BV (day-to-day manager)
  • Permanent representative, Paul Marchal
15-06
Gazette deed Resignations: Luna Ventures, Tokai Optecs and QBIC Venture Partners
Appointments: Jean Pierre Philippe BIZET, IMEC.XPAND and 4 others · Permanent representatives: Peter Lambert VANBEKBERGEN, Thomas BEKE and 3 others · Capital34 facts ▸
  • General meeting, 10-06-2022
  • Capital, €5,185,584
  • Capital increase, €1,611,118.72
  • Capital, €6,796,702.72
  • Capital increase, €2,131,979.63
  • Capital, €8,928,682.35
  • Share issue, “Inschrijvingsrechten 2022”, 750000 (deed in Dutch)
  • Share issue, “Soort B1 Anti-Dilutie Inschrijvingsrechten”, 55 (deed in Dutch)
  • Share issue, “Lening Inschrijvingsrechten”, 59701 (deed in Dutch)
  • Director resignation, Luna Ventures (director)
  • Director resignation, Tokai Optecs (director)
  • Director resignation, QBIC Venture Partners (director)
  • +22 further facts in this act
2021
24-06
NBB filing Annual accounts filed
financial year 2020 · micro format
2020
14-07
Gazette deed Resignations: Diane Lejeune (permanent representative) and Kurt Leuridan (permanent representative)
Permanent representatives: Jeroen Van den Bossche and Kurt Leuridan · Reserve release · Amendment of the articles13 facts ▸
  • General meeting, 03-07-2020
  • Reserve release, 5575916.0, “aanzuivering van geleden verliezen” (deed in Dutch)
  • Amendment of the articles
  • Capital, €5,185,584
  • Director resignation, Diane Lejeune (permanent representative)
  • Director resignation, Kurt Leuridan (permanent representative) (2 times)
  • Permanent representative, Jeroen Van den Bossche
  • Permanent representative, Kurt Leuridan
  • Share classes, 6815000, 615000
  • Liquidation preference, EUR, 1.0
  • Dividend preference, “oorspronkelijke inschrijvingsprijs”, 5% (deed in Dutch)
  • Board composition, “Onafhankelijke Bestuurder”, 8 (deed in Dutch)
  • +1 further fact in this act
08-07
NBB filing Annual accounts filed
financial year 2019 · micro format
2019
20-11
Gazette deed Capital & shares · Amendment of the articles · Name
Capital increase · Bank account · Name change9 facts ▸
  • General meeting, 13-11-2019
  • Capital increase, €1,712,042
  • Bank account, “BE57 0018 7383 9835” (deed in Dutch)
  • Name change, Morrow
  • Amendment of the articles (2 times)
  • Capital, €5,185,584
  • Share classes, 1700000, 4500000
  • Share value equalization, “gelijkschakeling van de fractiewaarde van alle 6.815.000 aandelen” (deed in Dutch)
  • Premium booking, €2,787,958, “Uitgiftepremies” (deed in Dutch)
24-06
NBB filing Annual accounts filed
financial year 2018 · micro format
06-02
Gazette deed Registered office
Registered-office move1 fact ▸
  • Registered-office move, Technologiepark-Zwijnaarde 122, 9052 Zwijnaarde
2018
29-08
NBB filing Annual accounts filed
financial year 2017 · micro format · 29 days late
27-08
Gazette deed Resignations: VALKUR (director) and Peter Vanbekbergen (director)
Appointments: Jean Pierre Philippe Bizet, Tokai Optecs and 3 others · Permanent representatives: VALKUR SPRL, Kurt Piet Maria Georges Felix Leuridan and 7 others · Capital increase37 facts ▸
  • General meeting, 27-07-2018
  • Capital increase, €1,712,042
  • Bank account, “BE83 0018 4207 0315” (deed in Dutch)
  • Capital, €3,473,542
  • Amendment of the articles
  • Share issue, “anti-dilutie warrants”, 45 (deed in Dutch)
  • Share issue, “aandelenoptie warrants”, 1285000 (deed in Dutch)
  • Director resignation, VALKUR (director)
  • Director resignation, Peter Vanbekbergen (director)
  • Director appointment, Jean Pierre Philippe Bizet (director)
  • Director appointment, Tokai Optecs (director)
  • Permanent representative, VALKUR SPRL
  • +25 further facts in this act
2016
04-08
Gazette deed Appointments: VALKUR BVBA, Peter Lambert Vanbekbergen and 2 others
Permanent representatives: Kurt Piet Maria Georges Felix Leuridan, Martin Louis Florence De Prycker and 3 others · Capital increase · Bank account23 facts ▸
  • General meeting, 05-07-2016
  • Capital increase, €350,000
  • Capital increase, €1,350,000
  • Bank account, “BE72 0017 8849 7316” (deed in Dutch)
  • Capital, €1,761,500
  • Amendment of the articles
  • Director appointment, VALKUR BVBA (director)
  • Permanent representative, Kurt Piet Maria Georges Felix Leuridan
  • Director appointment, Peter Lambert Vanbekbergen (director)
  • Director appointment, QBIC Venture Partners BVBA (director)
  • Permanent representative, Martin Louis Florence De Prycker
  • Director appointment, ParticipatieMaatschappij Vlaanderen (director)
  • +11 further facts in this act
18-07
Gazette deed Capital & shares
Share issue · Capital increase3 facts ▸
  • General meeting, 28-06-2016
  • Share issue, 152250, “Oprichterswarrants” (deed in Dutch)
  • Capital increase
29-06
Gazette deed Incorporation
Appointments: Luna Ventures BVBA (director) and Chestnut Ventures BVBA (director) · Permanent representatives: DE SMET Jelle and MARCHAL Paul Wilfried Cecile · Founder12 facts ▸
  • Incorporation, 24-06-2016
  • Founder, MARCHAL Paul Wilfried Cecile
  • Founder, DE SMET Jelle
  • Founding capital, €61,500
  • Bank account, “BNP Paribas Fortis, BE24 0017 8767 5038” (deed in Dutch)
  • Director appointment, Luna Ventures BVBA (director)
  • Director appointment, Chestnut Ventures BVBA (director)
  • Permanent representative, DE SMET Jelle
  • Permanent representative, MARCHAL Paul Wilfried Cecile
  • Mandate compensation, Luna Ventures BVBA
  • Mandate compensation, Chestnut Ventures BVBA
  • Assumption of liabilities, “Alle verbintenissen, alsook alle daaruit voortvloeiende verplichtingen, en alle handelingen gesteld door de oprichters in naam en voor rekening van de vennootsc…” (deed in Dutch)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
18 of 18 deeds read

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