ORBIS
ActiveSummary
ORBIS has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15.7m and a net result of €1.0m. Equity is growing by about 12% per year across the filed financial years. Its solvency ranks better than 90% of 6,141 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Activity
Non-specialised wholesale trade
NACE 46900
2nd largest company by total assets in Ypres, Wholesale and retail trade sector1 site
Size
€22.5mturnover 2025
- Staff
- 6 FTE
- Equity
- €15.7m
- Profit
- €1.0m
Structure
- Parent
- Orbis Corporation · 99.99%
- Brian E. CothrollDaily manager
Auditor: VRC BEDRIJFSREVISOREN2025 accounts 22 days early6 of 15 deeds summarised
Why 97lowers riskLiquidity: current ratio 7.00, cash €4.4mFounded in 1996Equity €15.7m (86.0% of total assets)Size: turnover €22.5m, 6 FTE, total assets €18.3mShow the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 72% of its sector peers (NACE 46, micro)
Financial strength · tick = 2024
Strong
Solvency
100+3
equity 86.0% of total assets
Liquidity
77-20
short-term debt 13.9% · cash 23.8%
Profitability
64-2
return on assets 5.6%
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%
12-2024: 0.1%● unchanged vs 11-2024highest value
01-2025: 0.1%● unchanged vs 12-2024highest value
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: < 0.1%▼ -0.1 percentage points vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit of up to €1,500,000 on 30-day terms is acceptable
Liquidity ample (current ratio 7.0, compared with 6.69 in 2024, above the usual 1.5; short-term debt: 13.9% and cash: 23.8% of total assets), and 14% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro): better than 90% on solvency, 80% on liquidity, 47% on profitability and 71% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 days early
2024
45 days early
2023
29 days early
2022
16 days late
2021
25 days late
2020
23 days late
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 5 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 9 July (4 of the last 5 filed years within 38 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
- Reappointment: VRC BEDRIJFSREVISOREN BV (statutory auditor)Gazette deed
- Annual accounts filedfinancial year 2025 · full…
- Amendment of the articlesCapital · Power of attorney
Financials · financial year 2025, full format
In the rankings
#2 company by total assets in Ypres, Wholesale and retail trade sector#2 company by equity in Ypres, Wholesale and retail trade sector
Turnover
€22.5m▲ 27.0%
2024 · €17.7m
EBIT margin
4.9%▼ 1.9pp
2024 · 6.7%
Net result
€1.0m▲ 17.1%
2024 · €874,156
Working capital
€15.3m▼ 10.0%
2024 · €17.0m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen four years in a row; 2025 is 8% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€22.5m
2025
Operating result€1.1m
2025
Net result€1.0m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€18.3m
2025
Equity€15.7m
2025
Debt€2.6m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€15.3m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin4.9%
2025
Return on assets (ROA)5.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency86.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio7.00
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)6
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€25.6m-€16.2m▼ 36.5%€15.9m▼ 1.9%€24.1m▲ 51.4%€27.8m▲ 15.5%€24.6m▼ 11.7%€17.7m▼ 27.9%€22.5m▲ 27.0%
Operating result€2.0m--€2.1m-€1.1m▲ 44.0%€3.8m€2.6m▼ 32.9%€1.9m▼ 26.8%€1.2m▼ 36.1%€1.1m▼ 8.5%
Net result€1.3m--€2.4m-€1.0mbelow the sector's middle half▲ 59.5%€3.6mabove the sector's middle half€2.1mabove the sector's middle half▼ 40.9%€1.4mabove the sector's middle half▼ 31.9%€0.9mabove the sector's middle half▼ 39.5%€1.0mabove the sector's middle half▲ 17.1%
EBIT margin8.0%--12.6%▼ 20.6pp-7.2%▲ 5.4pp15.8%▲ 23.0pp9.2%▼ 6.6pp7.6%▼ 1.6pp6.7%▼ 0.9pp4.9%▼ 1.9pp
Equity€10.1m-€7.7m▼ 24.1%€6.7mabove the sector's middle half▼ 12.8%€10.3mabove the sector's middle half▲ 53.6%€12.4mabove the sector's middle half▲ 20.6%€13.8mabove the sector's middle half▲ 11.6%€14.7mabove the sector's middle half▲ 6.3%€15.7mabove the sector's middle half▲ 7.0%
Total assets€18.1m-€15.7m▼ 13.5%€12.9mabove the sector's middle half▼ 17.7%€16.4mabove the sector's middle half▲ 27.0%€19.5mabove the sector's middle half▲ 19.1%€22.6mabove the sector's middle half▲ 15.5%€20.4mabove the sector's middle half▼ 9.6%€18.3mabove the sector's middle half▼ 10.2%
Debt€7.8m-€8.0m▲ 2.4%€6.2m▼ 22.3%€6.1m▼ 1.6%€7.1m▲ 16.4%€8.7m▲ 22.2%€5.7m▼ 34.8%€2.6m▼ 54.7%
Working capital€11.3m-€11.9m▲ 5.9%€8.4mabove the sector's middle half▼ 29.3%€10.8mabove the sector's middle half▲ 28.1%€15.7mabove the sector's middle half▲ 44.9%€18.0mabove the sector's middle half▲ 15.1%€17.0mabove the sector's middle half▼ 5.7%€15.3mabove the sector's middle half▼ 10.0%
Solvency55.8%-49.0%▼ 6.8pp51.8%within the sector's middle half▲ 2.9pp62.7%above the sector's middle half▲ 10.9pp63.5%above the sector's middle half▲ 0.8pp61.4%within the sector's middle half▼ 2.1pp72.2%above the sector's middle half▲ 10.8pp86.0%above the sector's middle half▲ 13.8pp
Current ratio3.61-5.73▲ 2.113.51above the sector's middle half▼ 2.223.18above the sector's middle half▼ 0.325.61above the sector's middle half▲ 2.435.26above the sector's middle half▼ 0.356.69above the sector's middle half▲ 1.437.00above the sector's middle half▲ 0.31
Return on assets (ROA)6.9%--15.5%▼ 22.4pp-7.6%below the sector's middle half▲ 7.9pp21.9%above the sector's middle half▲ 29.5pp10.9%above the sector's middle half▼ 11.0pp6.4%within the sector's middle half▼ 4.5pp4.3%within the sector's middle half▼ 2.1pp5.6%within the sector's middle half▲ 1.3pp
Staff (FTE)3.4-4▲ 17.6%3.4below the sector's middle half▼ 15.0%3.8within the sector's middle half▲ 11.8%4.9within the sector's middle half▲ 28.9%5.8within the sector's middle half▲ 18.4%6within the sector's middle half▲ 3.4%6within the sector's middle half=
above
within
below
the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.3m
Fixed assets
€455,205 ▲ 13.9%
Current assets
€17.9m ▼ 10.7%
Equity and liabilities €18.3m
Equity
€15.7m ▲ 7.0%
Debt
€2.6m ▼ 54.7%
Debt's share of the balance-sheet total falls from 27.8% to 14.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▼
2024 · €1.3m
Cash flow
€1.1m▲
2024 · €1.0m
Quick ratio
6.40▲
2024 · 6.10
Debt to equity
0.16▼
2024 · 0.39
ROE
6.5%▲
2024 · 5.9%
Interest coverage
19.40▲
2024 · 7.54
Debt ≤ 1 year
€2.6m▼
2024 · €3.0m
Debt > 1 year
€0▼
2024 · €2.7m
Income taxes
€396,295▲
2024 · €236,366
Staff costs
€756,640▲
2024 · €751,065
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,373 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93.5%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,373 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €24.1m | €28.0m | €24.6m | €17.7m | €22.2m | ▲ 25.3% |
| Turnover70 | €25.6m | €16.2m | €15.9m | €24.1m | €27.8m | €24.6m | €17.7m | €22.5m | ▲ 27.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€0.006m | €0.1m | €0.02m | -€0.01m | -€0.3m | ▼ 2,618% |
| Other operating income74 | - | - | - | €0.001m | €0.001m | €0.002m | €0.009m | €0.001m | ▼ 93.6% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €0.003m | - |
| Operating charges60/66A | - | - | - | €20.3m | €25.4m | €22.7m | €16.5m | €21.1m | ▲ 27.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €19.4m | €22.2m | €19.2m | €13.7m | €17.7m | ▲ 29.0% |
| Purchases600/8 | - | - | - | €17.6m | €22.6m | €18.4m | €13.0m | €17.9m | ▲ 37.8% |
| Change in stocks: decrease (increase)609 | - | - | - | €1.8m | -€0.5m | €0.7m | €0.7m | -€0.2m | - |
| Services and other goods61 | - | - | - | €2.0m | €2.2m | €2.3m | €2.1m | €2.4m | ▲ 13.3% |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.6m | €1.3m | €0.9m | €0.6m | €0.3m | €0.3m | €0.1m | €0.1m | ▼ 6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€2.3m | -€0.08m | €0.2m | -€0.2m | €0.2m | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.1m | €0.06m | €0.02m | €0.02m | ▲ 2.4% |
| Non-recurring operating charges66A | - | - | - | €0 | - | €0.001m | €0 | - | - |
| Operating profit (loss)9901 | €2.0m | -€2.1m | -€1.1m | €3.8m | €2.6m | €1.9m | €1.2m | €1.1m | ▼ 8.5% |
| Financial income75/76B | - | - | - | €0.06m | €0.7m | €0.5m | €0.4m | €0.5m | ▲ 40.1% |
| Recurring financial income75 | €0.01m | €0.2m | €0.6m | €0.06m | €0.7m | €0.5m | €0.4m | €0.5m | ▲ 40.1% |
| Income from current assets751 | - | - | - | €0.06m | €0.1m | €0.3m | €0.4m | €0.2m | ▼ 46.1% |
| Other financial income752/9 | - | - | - | €38 | €0.6m | €0.1m | €0 | €0.3m | - |
| Financial charges65/66B | - | - | - | €0.2m | €0.8m | €0.3m | €0.4m | €0.2m | ▼ 60.0% |
| Recurring financial charges65 | €0.3m | €0.6m | €0.5m | €0.2m | €0.8m | €0.3m | €0.4m | €0.2m | ▼ 60.0% |
| Debt charges650 | €0.07m | €0.2m | €0.2m | €0.05m | €0.1m | €0.3m | €0.2m | €0.06m | ▼ 64.4% |
| Other financial charges652/9 | - | - | - | €0.2m | €0.7m | €0.05m | €0.3m | €0.1m | ▼ 57.1% |
| Profit (loss) for the period before taxes9903 | €1.8m | -€2.4m | -€1.0m | €3.7m | €2.4m | €2.0m | €1.1m | €1.4m | ▲ 27.9% |
| Income taxes67/77 | €0.5m | -€32 | €232 | €0.07m | €0.3m | €0.6m | €0.2m | €0.4m | ▲ 67.7% |
| Taxes670/3 | - | - | - | €0.07m | €0.3m | €0.6m | €0.2m | €0.4m | ▲ 68.0% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | €0.001m | €0 | €0.001m | - |
| Profit (loss) for the period9904 | €1.3m | -€2.4m | -€1.0m | €3.6m | €2.1m | €1.4m | €0.9m | €1.0m | ▲ 17.1% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €1.1m | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.3m | -€2.4m | -€1.0m | €3.6m | €1.0m | €1.4m | €0.9m | €1.0m | ▲ 17.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €18.1m | €15.7m | €12.9m | €16.4m | €19.5m | €22.6m | €20.4m | €18.3m | ▼ 10.2% |
| Fixed assets21/28 | €2.5m | €1.2m | €1.1m | €0.6m | €0.4m | €0.3m | €0.4m | €0.5m | ▲ 13.9% |
| Intangible fixed assets21 | €0.02m | €0.01m | €0.009m | €0.005m | €0.001m | €0 | - | - | - |
| Tangible fixed assets22/27 | €2.5m | €1.2m | €1.1m | €0.6m | €0.4m | €0.3m | €0.4m | €0.4m | ▲ 14.5% |
| Plant, machinery and equipment23 | - | - | - | €0.5m | €0.4m | €0.2m | €0.1m | €0.4m | ▲ 270% |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.01m | €0.007m | €0.005m | €0.003m | ▼ 45.0% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €0.002m | €0.007m | €0.005m | €0.004m | ▼ 30.8% |
| Assets under construction and advance payments27 | - | - | - | €0.1m | €0 | - | €0.3m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.06m | €0.007m | €0.007m | €0.007m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Other financial fixed assets284/8 | - | - | - | €0.007m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.007m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Current assets29/58 | €15.6m | €14.5m | €11.8m | €15.8m | €19.1m | €22.3m | €20.0m | €17.9m | ▼ 10.7% |
| Amounts receivable after more than one year29 | - | - | - | €3.4m | €5.0m | €5.0m | €3.9m | €3.9m | = |
| Other amounts receivable291 | - | - | - | €3.4m | €5.0m | €5.0m | €3.9m | €3.9m | = |
| Stocks and contracts in progress3 | €4.8m | €4.6m | €2.1m | €2.6m | €3.2m | €2.3m | €1.8m | €1.5m | ▼ 13.8% |
| Stocks30/36 | - | - | - | €2.6m | €3.2m | €2.3m | €1.8m | €1.5m | ▼ 13.8% |
| Raw materials and consumables30/31 | - | - | - | €0.06m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 12.9% |
| Finished goods33 | - | - | - | €0.5m | €0.6m | €0.6m | €0.6m | €0.3m | ▼ 50.7% |
| Goods purchased for resale34 | - | - | - | €2.0m | €2.4m | €1.5m | €0.9m | €1.0m | ▲ 10.1% |
| Amounts receivable within one year40/41 | €8.7m | €6.5m | €4.7m | €6.3m | €8.5m | €9.0m | €5.6m | €8.1m | ▲ 43.4% |
| Trade receivables40 | - | - | - | €5.2m | €6.4m | €8.5m | €4.8m | €7.6m | ▲ 57.8% |
| Other amounts receivable41 | - | - | - | €1.1m | €2.0m | €0.5m | €0.8m | €0.5m | ▼ 42.0% |
| Cash at bank and in hand54/58 | €1.6m | €0.4m | €2.4m | €3.5m | €2.4m | €5.9m | €8.7m | €4.4m | ▼ 49.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.02m | €0.07m | €0.02m | €0.006m | ▼ 65.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €18.1m | €15.7m | €12.9m | €16.4m | €19.5m | €22.6m | €20.4m | €18.3m | ▼ 10.2% |
| Equity10/15 | €10.1m | €7.7m | €6.7m | €10.3m | €12.4m | €13.8m | €14.7m | €15.7m | ▲ 7.0% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.03m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | - | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | €9.8m | €7.4m | €6.4m | €10.0m | €11.0m | €12.4m | €13.3m | €14.3m | ▲ 7.7% |
| Provisions and deferred taxes16 | €0.2m | €0 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €7.8m | €8.0m | €6.2m | €6.1m | €7.1m | €8.7m | €5.7m | €2.6m | ▼ 54.7% |
| Amounts payable after more than one year17 | €3.5m | €5.5m | €2.8m | €1.0m | €3.6m | €4.4m | €2.7m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €1.0m | €3.6m | €4.4m | €2.7m | €0 | ▼ 100% |
| Other loans174 | - | - | - | €1.0m | €3.6m | €4.4m | €2.7m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €4.3m | €2.5m | €3.4m | €5.0m | €3.4m | €4.2m | €3.0m | €2.6m | ▼ 14.7% |
| Trade debts44 | €4.2m | €2.4m | €3.2m | €3.8m | €3.0m | €3.3m | €2.7m | €2.5m | ▼ 8.5% |
| Suppliers440/4 | - | - | - | €3.8m | €3.0m | €3.3m | €2.7m | €2.5m | ▼ 8.5% |
| Advances received on contracts in progress46 | - | - | - | €1.0m | €0 | €0.3m | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.4m | €0.6m | €0.3m | €0.1m | ▼ 67.9% |
| Taxes450/3 | - | - | - | €0.1m | €0.2m | €0.5m | €0.2m | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 17.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.004m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.08m | €0.02m | €0.02m | €0.02m | ▼ 28.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | -€2.4m | -€1.0m | €3.6m | €2.1m | €1.4m | €0.9m | €1.0m | ▲ 17.1% |
| + Depreciation and write-downs630 | €1.6m | €1.3m | €0.9m | €0.6m | €0.3m | €0.3m | €0.1m | €0.1m | ▼ 6.3% |
| Operating cash flow (approximation) | €2.8m | -€1.1m | -€0.05m | €4.2m | €2.4m | €1.8m | €1.0m | €1.1m | ▲ 14.1% |
| Investment in fixed assets (approximation) | - | €0.01m | -€0.8m | -€0.1m | -€0.2m | -€0.1m | -€0.3m | -€0.2m | ▲ 30.0% |
| Change in cash | - | -€1.2m | €2.1m | €1.1m | -€1.1m | €3.5m | €2.8m | -€4.3m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 09-07-2026 | 2026-00280365 |
| 31-12-2024 | full format | 16-06-2025 | 2025-00145881 |
| 31-12-2023 | full format | 02-07-2024 | 2024-00214373 |
| 31-12-2022 | full format | 16-08-2023 | 2023-00329931 |
| 31-12-2021 | full format | 25-08-2022 | 2022-20365963 |
| 31-12-2020 | full format | 23-08-2021 | 2021-54600306 |
| 31-12-2019 | full format | 30-07-2020 | 2020-37900487 |
| 31-12-2018 | full format | 31-07-2019 | 2019-44100190 |
| 31-12-2017 | full format | 26-07-2018 | 2018-41300204 |
| 31-12-2016 | full format | 25-07-2017 | 2017-36000545 |
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Of the 1,546 active companies whose main activity is non-specialised wholesale trade (NACE 46900), figures are known for 922. 196 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, 2 in day-to-day management, last change in 2026
Board 1
Brian E. Cothroll
CurrentDirector · since 13-01-2026
Day-to-day management 2
Mark D. Gorzek
CurrentGedelegeerde voor het dagelijks bestuur · since 18-09-2023
Brian E. Cothroll
CurrentDay-to-day manager · since 13-01-2026
Statutory auditor 1
VRC BEDRIJFSREVISOREN
CurrentStatutory auditor · since 13-06-2025 · permanent representative: ROOBROUCK Bart
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
9 of this company's 15 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
6 people since 2023, 3 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Brian E. Cothroll |
|
| Mark D. Gorzek |
|
| VRC BEDRIJFSREVISOREN |
|
| Mark P. Fogarty |
|
| Norman J. Kukuk |
|
| William F. Ash |
|
Owners and capital
Owners
1 ownerOwners 1
- Orbis CorporationUSparentSourceown accounts 202299.99%
According to the 2022 annual accounts of ORBIS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital over the years
- 30-04-2026 Capital stated in the deed · €258,429 · 347,500 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
11-09
Gazette deed
Reappointment: VRC BEDRIJFSREVISOREN BV (statutory auditor)2 facts ▸
Gazette deed
Reappointment: VRC BEDRIJFSREVISOREN BV (statutory auditor)
2 facts ▸
- General meeting, 12-06-2026
- Auditor reappointment, VRC BEDRIJFSREVISOREN BV (statutory auditor)
09-07
NBB filing
Annual accounts filed
financial year 2025 · full format
30-04
Gazette deed
Amendment of the articlesCapital · Power of attorney7 facts ▸
Gazette deed
Amendment of the articles
Capital · Power of attorney7 facts ▸
- General meeting, 27-04-2026
- Amendment of the articles (2 times)
- Capital, €258,429
- Power of attorney, Sibylle FALLA
- Power of attorney, David Prync
- Power of attorney, Aurore De Plaen
- Power of attorney
23-02
Gazette deed
Resignation: Mark P. Fogarty (director)Appointment: Brian E. Cothroll (director) · Power of attorney9 facts ▸
Gazette deed
Resignation: Mark P. Fogarty (director)
Appointment: Brian E. Cothroll (director) · Power of attorney9 facts ▸
- General meeting, 13-01-2026
- Director resignation, Mark P. Fogarty (director)
- Director appointment, Brian E. Cothroll (director)
- Power of attorney, David Prync
- Power of attorney, Aurore De Plaen
- Power of attorney, Charles Haverbeke
- Board meeting, 13-01-2026
- Director resignation, Mark P. Fogarty (day-to-day manager)
- Director appointment, Brian E. Cothroll (day-to-day manager)
2025
09-07
Gazette deed
Capital & shares · Amendment of the articlesPower of attorney2 facts ▸
Gazette deed
Capital & shares · Amendment of the articles
Power of attorney2 facts ▸
- Board meeting, 30-05-2025
- Power of attorney, Alberto Soto Ontiveros (2 times)
16-06
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
02-07
NBB filing
Annual accounts filed
financial year 2023 · full format
01-03
Gazette deed
Resignation: Norman J. Kukuk (director)Appointment: Mark D. Gorzek (gedelegeerde voor het dagelijks bestuur) · Director discharge · Power of attorney6 facts ▸
Gazette deed
Resignation: Norman J. Kukuk (director)
Appointment: Mark D. Gorzek (gedelegeerde voor het dagelijks bestuur) · Director discharge · Power of attorney6 facts ▸
- Board meeting, 18-09-2023
- Director resignation, Norman J. Kukuk (director)
- Director discharge, Norman J. Kukuk (director)
- Director resignation, Norman J. Kukuk (gedelegeerde voor het dagelijks bestuur)
- Power of attorney, Norman J. Kukuk
- Director appointment, Mark D. Gorzek (gedelegeerde voor het dagelijks bestuur)
2023
16-08
NBB filing
Annual accounts filed
financial year 2022 · full format · 16 days late
06-06
Gazette deed
Resignation: William F. Ash (director)Appointment: Norman J. Kukuk (director) · Power of attorney7 facts ▸
Gazette deed
Resignation: William F. Ash (director)
Appointment: Norman J. Kukuk (director) · Power of attorney7 facts ▸
- General meeting, 18-04-2023
- Director resignation, William F. Ash (director)
- Director appointment, Norman J. Kukuk (director)
- Board meeting, 18-04-2023
- Director resignation, William F. Ash (gedelegeerde voor het dagelijks bestuur)
- Power of attorney, William F. Ash
- Director appointment, Norman J. Kukuk (afgevaardigde voor dagelijks bestuur)
2022
25-08
NBB filing
Annual accounts filed
financial year 2021 · full format · 25 days late
2021
31-12
Financial
Back to profitnet €3.6m
Net result €3.6m after 2 loss-making years.
Show earlier events
31-12
Financial
Equity above €10mequity €10.3m ▲53.6%
Equity rises from €6.7m to €10.3m.
23-08
NBB filing
Annual accounts filed
financial year 2020 · full format · 23 days late
2020
30-07
NBB filing
Annual accounts filed
financial year 2019 · full format
2019
31-12
Financial
Weakest financial yearnet -€2.4m
Net result drops to -€2.4m, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
financial year 2018 · full format
2018
26-07
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
25-07
NBB filing
Annual accounts filed
financial year 2016 · full format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 30 annual accounts filed, the latest 10 are here; all 30 are under Financials.
6 of 15 deeds read
About the unread acts
Of the 15 Belgian Official Gazette deeds we know for this company, 6 have been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Register details
Identification
Legal formPublic limited company
Founded15-11-1996
Financial year end31-12
Activities, NACEBEL 2025
46900Non-specialised wholesale trade
17210Manufacture of paper and paper products
20160Manufacture of chemicals and chemical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0459220170
Registered
06-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
1 application in Flanders since 2023 · 1 granted
Nieuwe publiciteitsinrichting (met inbegrip van vernieuwen van een bestaande vergunning)
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Ieper · 1 establishment unit since 1996
Ground area
6,523 m²
Building footprint
2,542 m²
Building volume
5,551 m³
Parcel 33003B0834/00E000, Flanders · tallest building 8.6 m. Linked by address, not a title deed.
1 establishment unit
Orbis
since 1996unit no. 2.079.645.851
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33003B0834/00E000 | Flanders | 6,523 m² | 1 · 2,542 m² | 8.6 m |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De samenstelling en het beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden, het verwerven door…” (deed in Dutch)
9 activities (deed in Dutch)
- De samenstelling en het beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden, het verwerven door aankoop of anderszins, het verkopen, het ruilen, het bouwen, het verbouwen, het verbeteren, het uitrusten, het aanpassen, het verfraaien, het onderhouden, het verhuren, het huren, het verkavelen, het prospecteren en het uitbaten van onroerende goederen, alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de uitbreiding en de opbrengst van de onroerende goederen te bevorderen, alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen.
- A/ de ontwikkeling, de fabricatie en de commercialisering van verpakkingssystemen in kunststoffen en alle daarmee verwante artikelen
- B/ het bevorderen van de oprichting van vennootschappen door inbreng, participaties of investering
- C/ het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren, onder om het even welke vorm; in dit kader kan zij zich borg stellen of haar aval verlenen, in de meest ruime zin, alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken, houders van deposito's op korte termijn, spaarkassen, hypotheekmaatschappijen en kapitalisatieondernemingen
- D/ het verlenen van adviezen van financiële, technische, commerciële of administratieve aard, in de ruimste zin, met uitzondering van adviesverschaffing inzake beleggingen en geldplaatsingen, bijstand en diensten verlenen, rechtstreeks of onrechtstreeks op het vlak van administratie en financiën, verkoop, productie en algemeen bestuur, het verlenen van alle dienstprestaties en het uitvoeren van alle opdrachten onder de vorm van organisatiestudies, expertises, technische handelingen en raadgevingen of andere op eender welk vlak binnen het voorwerp
- E/ het waarnemen van alle bestuursopdrachten, het uitoefenen van opdrachten en functies die rechtstreeks of onrechtstreeks met haar voorwerp verband houden
- F/ het ontwikkelen, kopen, verkopen, in licentie nemen of geven van octrooien en brevetten, knowhow en aanverwante immateriële duurzame activa
- G/ de aan- en verkoop, in- en uitvoer, commissiehandel en vertegenwoordiging van om het even welke goederen, in 't kort tussenpersoon inde handel
- H. het onderzoek, de ontwikkeling, de vervaardiging of commercialisering van nieuwe producten, nieuwe technologieën en hun toepassingen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ORBIS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “ARTIKEL 26 - VERTEGENWOORDIGING - AKTEN EN RECHTSVORDERINGEN De vennootschap wordt in en buiten rechte in alle rechtshandelingen en akten…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke of rechtspersonen, samenstelling bestuursorgaan” (deed in Dutch)“Enige bestuurder, Zelfs indien de enige bestuurder krachtens een statutaire bepaling moet instemmen met zijn ontslag, kan de algemene…” (deed in Dutch)“De vergaderingen van de raad van bestuur worden ofwel fysiek gehouden op de plaats die in de oproeping is aangegeven, ofwel op afstand door…” (deed in Dutch)“Elk bestuurder mag aan één van zijn collega's, schriftelijk of door ieder ander communicatiemiddel dat over een materiële ondersteuning…” (deed in Dutch)“Het bestuursorgaan beschikt over de meest uitgebreide machten om alle handelingen te verrichten die nodig of dienstig zijn voor het…” (deed in Dutch)“Het dagelijks bestuur omvat alle handelingen en de beslissingen die niet verder reiken dan de behoeften van het dagelijks leven van de…” (deed in Dutch)5 more provisions on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Ten opzichte van de vennootschap zijn de aandelen ondeelbaar, ondeelbaarheid” (deed in Dutch)1 more provision on this in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Machtiging, bestuursorgaan” (deed in Dutch)
- Financial instrumentSecurities other than shares, such as bonds or warrants, the company can issue.
- “Uitgifte, De vennootschap mag te allen tijde hypothecaire of andere bons of obligaties creëren en uitgeven bij beslissing van het…” (deed in Dutch)“Uitgifte, converteerbare obligaties of obligaties met inschrijvingsrecht” (deed in Dutch)“Vijf jaar, vanaf de datum bepaald door de wet als vertrekpunt voor dit tijdperk” (deed in Dutch)
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of June at 11:00
- General meeting ruleHow the general meeting works: who calls it, who may attend and how it decides.
- 3 provisions in the deed
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- One provision in the deed
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed