ORBAY
InactiveORBAY was declared bankrupt on 07-04-2025 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed for insufficient assets by judgment of 20-01-2026, published in the Belgian State Gazette on 30-01-2026.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 15-09-2023, 46 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
46 d late
2021
50 d late
2020
24 d late
2019
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 53 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Address struckStrikeout withdrawal
History
Financials · fiscal year 2022, micro schema
Equity
€6,284▲ 101%
2021 · €3,134
Total assets
€10,466▲ 119%
2021 · €4,785
Net result
€3,150▼ 51.1%
2021 · €6,448
Working capital
€2,594
2021 · -€556
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result-€5,730--€2,413▲ 57.9%-€645▲ 73.3%€6,702€3,717▼ 44.5%
Net result-€5,999--€2,782▲ 53.6%-€835▲ 70.0%€6,448€3,150▼ 51.1%
Equity€302--€2,480-€3,314▼ 33.7%€3,134€6,284▲ 101%
Total assets€8,225-€8,883▲ 8.0%€4,315▼ 51.4%€4,785▲ 10.9%€10,466▲ 119%
Debt€7,923-€11,363▲ 43.4%€7,630▼ 32.9%€1,651▼ 78.4%€4,182▲ 153%
Working capital-€3,388--€6,170▼ 82.1%-€7,004▼ 13.5%-€556▲ 92.1%€2,594
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 45% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €10,466
Fixed assets
€3,690 =
Current assets
€6,776 ▲ 519%
Equity and liabilities €10,466
Equity
€6,284 ▲ 101%
Debt
€4,182 ▲ 153%
Debt's share of the balance-sheet total rises from 34.5% to 40.0%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.62
Quick ratio
1.54
Debt to equity
0.67
ROE
50.1%
ROA
30.1%
Debt ≤ 1 year
€4,182▲
2021 · €1,651
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €69 | €832 | ▲ 1,106% |
| Gross operating margin9900 | -€1,989 | -€987 | €359 | €6,771 | €4,549 | ▼ 32.8% |
| Operating profit (loss)9901 | -€5,730 | -€2,413 | -€645 | €6,702 | €3,717 | ▼ 44.5% |
| Financial income75/76B | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €254 | €567 | ▲ 123% |
| Recurring financial charges65 | €270 | €369 | €189 | €254 | €567 | ▲ 123% |
| Profit (loss) for the period before taxes9903 | -€5,999 | -€2,782 | -€835 | €6,448 | €3,150 | ▼ 51.1% |
| Profit (loss) for the period9904 | -€5,999 | -€2,782 | -€835 | €6,448 | €3,150 | ▼ 51.1% |
| Profit (loss) for the period to be appropriated9905 | -€5,999 | -€2,782 | -€835 | €6,448 | €3,150 | ▼ 51.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,225 | €8,883 | €4,315 | €4,785 | €10,466 | ▲ 119% |
| Fixed assets21/28 | €3,690 | €3,690 | €3,690 | €3,690 | €3,690 | = |
| Financial fixed assets28 | €3,690 | €3,690 | €3,690 | €3,690 | €3,690 | = |
| Current assets29/58 | €4,535 | €5,193 | €625 | €1,095 | €6,776 | ▲ 519% |
| Stocks and contracts in progress3 | €364 | €1,234 | €499 | €449 | €349 | ▼ 22.3% |
| Stocks30/36 | - | - | - | €449 | €349 | ▼ 22.3% |
| Amounts receivable within one year40/41 | €70 | - | - | €127 | €247 | ▲ 94.8% |
| Trade receivables40 | - | - | - | €83 | €188 | ▲ 128% |
| Other amounts receivable41 | - | - | - | €44 | €59 | ▲ 33.4% |
| Cash at bank and in hand54/58 | €4,032 | €3,889 | €127 | €520 | €6,180 | ▲ 1,089% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,225 | €8,883 | €4,315 | €4,785 | €10,466 | ▲ 119% |
| Equity10/15 | €302 | -€2,480 | -€3,314 | €3,134 | €6,284 | ▲ 101% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€18,298 | -€21,080 | -€21,914 | -€15,466 | -€12,316 | ▲ 20.4% |
| Amounts payable17/49 | €7,923 | €11,363 | €7,630 | €1,651 | €4,182 | ▲ 153% |
| Amounts payable within one year42/48 | €7,923 | €11,363 | €7,630 | €1,651 | €4,182 | ▲ 153% |
| Trade debts44 | - | €2,962 | €1,322 | €537 | €269 | ▼ 49.9% |
| Suppliers440/4 | - | - | - | €537 | €269 | ▼ 49.9% |
| Taxes, remuneration and social security45 | - | - | - | €1,077 | €3,913 | ▲ 263% |
| Taxes450/3 | - | - | - | €1,077 | €3,913 | ▲ 263% |
| Other amounts payable47/48 | - | - | - | €37 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,999 | -€2,782 | -€835 | €6,448 | €3,150 | ▼ 51.1% |
| Operating cash flow (approximation) | -€5,999 | -€2,782 | -€835 | €6,448 | €3,150 | ▼ 51.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€143 | -€3,762 | €393 | €5,660 | ▲ 1,340% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
30-01
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise francophone de Bruxelles · event 20-01-2026
2025
11-04
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 07-04-2025
2024
12-07
KBO administration
Address struck
Rubensstraat 5 1030 L’adresse du siège Rue Rubens 5 1030 Die Sitzadresse Rue Rubens / Rubensstraat
Schaarbeek werd doorgehaald met ingang van Schaerbeek · event 30-05-2024
2023
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 46 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 1.62
Current ratio from 0.66 to 1.62.
19-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 50 days late
2021
31-12
Financial
Back to profitnet €6,448
Net result €6,448 after 3 loss-making years.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
11-06
KBO administration
Strikeout withdrawal
event 18-05-2021
18-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1022 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
Show earlier events
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
2011
29-08
NBB filing
Annual accounts filed
fiscal year 2010 · full schema · 29 days late
2009
30-09
NBB filing
Annual accounts filed
fiscal year 2008 · full schema · 61 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Lise HEILPORN CHAUSSEE DE LA HULPE 150,
1170 WATERMAEL-BOITSFORT |
07-04-2025 → 20-01-2026 |
Identification & contact
Identification
Legal formSPRL
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.