ORCED
ActiveSummary
ORCED has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €43k and a net result of €-5k. Equity is shrinking by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 68% of 11615 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability7▲+7
Solvency97▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 3.46 against 3.67 in 2023; short-term debt: 28.3% and cash: 61.6% of total assets), and 28.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
71.7%
Return on assets
-9%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-5k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
21 d early
2023
23 d early
2022
14 d early
2021
17 d early
2020
26 d late
2019
26 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€153k
EBIT margin
-11.5%
Net result
€-5k▲ 43.5%
2023 · €-9k
Working capital
€41k▼ 7.8%
2023 · €45k
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
Line20202021202220232024
Turnover€153k
Operating result€-5k▼ 16.8%€4k€-18k€-9k▲ 49.1%€-3k▲ 65.6%
Net result€-6k▼ 9.0%€4k€-19k€-9k▲ 48.9%€-5k▲ 43.5%
EBIT margin-11.5%
Equity€72k▼ 7.2%€76k▲ 5.0%€57k▼ 24.4%€48k▼ 16.5%€43k▼ 11.2%
Total assets€116k▲ 11.8%€102k▼ 12.1%€77k▼ 24.6%€65k▼ 16.1%€59k▼ 8.2%
Debt€44k▲ 68.8%€26k▼ 40.2%€20k▼ 25.0%€17k▼ 15.1%€17k▲ 0.2%
Working capital€56k▼ 6.7%€59k▲ 5.4%€47k▼ 20.0%€45k▼ 4.9%€41k▼ 7.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2024 against €9k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €59k
Fixed assets
€1k ▼ 59.3%
Current assets
€58k ▼ 5.6%
Equity and liabilities €59k
Equity
€43k ▼ 11.2%
Debt
€17k ▲ 0.2%
Debt's share of the balance-sheet total rises from 25.9% to 28.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▼
2023 · €-2k
Cash flow
€-5k▼
2023 · €-2k
Current ratio
3.46▼
2023 · 3.67
Debt to equity
0.39▲
2023 · 0.35
ROE
-12.6%▲
2023 · -19.8%
ROA
-9.0%▲
2023 · -14.6%
Interest coverage
-1.04▲
2023 · -11.14
Debt ≤ 1 year
€17k▲
2023 · €17k
Income taxes
€29▼
2023 · €360
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €153k | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €167k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €8k | €9k | €7k | €732 | ▼ 89.7% |
| Other operating charges640/8 | - | €2k | €2k | €1k | €1k | ▼ 3.6% |
| Gross operating margin9900 | €5k | €14k | €-7k | €-655 | €-1k | ▼ 90.1% |
| Operating profit (loss)9901 | €-5k | €4k | €-18k | €-9k | €-3k | ▲ 65.6% |
| Financial income75/76B | - | - | €2 | - | - | - |
| Recurring financial income75 | - | - | €2 | - | - | - |
| Financial charges65/66B | - | €441 | €613 | €160 | €2k | ▲ 1,294% |
| Recurring financial charges65 | €658 | €441 | €613 | €160 | €2k | ▲ 1,294% |
| Profit (loss) for the period before taxes9903 | €-5k | €4k | €-18k | €-9k | €-5k | ▲ 41.6% |
| Income taxes67/77 | €372 | €368 | €367 | €360 | €29 | ▼ 91.9% |
| Profit (loss) for the period9904 | €-6k | €4k | €-19k | €-9k | €-5k | ▲ 43.5% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €4k | €-19k | €-9k | €-5k | ▲ 43.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €116k | €102k | €77k | €65k | €59k | ▼ 8.2% |
| Fixed assets21/28 | €21k | €17k | €10k | €3k | €1k | ▼ 59.3% |
| Tangible fixed assets22/27 | €21k | €17k | €10k | €3k | €1k | ▼ 60.2% |
| Plant, machinery and equipment23 | - | €4k | €3k | €2k | €1k | ▼ 37.2% |
| Furniture and vehicles24 | - | €475 | €2k | €1k | - | - |
| Leasing and similar rights25 | - | €13k | €6k | - | - | - |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €95k | €85k | €67k | €61k | €58k | ▼ 5.6% |
| Amounts receivable within one year40/41 | €33k | €41k | €25k | €21k | €21k | ▲ 1.8% |
| Trade receivables40 | - | €31k | €16k | €14k | €16k | ▲ 15.9% |
| Other amounts receivable41 | - | €10k | €10k | €7k | €5k | ▼ 26.5% |
| Cash at bank and in hand54/58 | €60k | €42k | €37k | €39k | €36k | ▼ 6.0% |
| Deferred charges and accrued income490/1 | - | €2k | €4k | €1k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €116k | €102k | €77k | €65k | €59k | ▼ 8.2% |
| Equity10/15 | €72k | €76k | €57k | €48k | €43k | ▼ 11.2% |
| Contributions10/11 | €19k | €19k | €19k | €20k | €20k | = |
| Capital10 | - | €19k | €19k | - | - | - |
| Issued capital100 | - | €19k | €19k | - | - | - |
| Reserves13 | €47k | €47k | €47k | €45k | €45k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Legal reserve130 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €45k | €45k | €45k | €45k | = |
| Profit (loss) carried forward14 | €7k | €10k | €-8k | €-18k | €-23k | ▼ 30.3% |
| Amounts payable17/49 | €44k | €26k | €20k | €17k | €17k | ▲ 0.2% |
| Amounts payable after more than one year17 | €5k | - | - | - | - | - |
| Amounts payable within one year42/48 | €39k | €26k | €20k | €17k | €17k | ▲ 0.2% |
| Current portion of amounts payable after more than one year42 | - | €5k | - | - | - | - |
| Trade debts44 | €18k | €15k | €4k | €1k | €317 | ▼ 71.4% |
| Suppliers440/4 | - | €15k | €4k | €1k | €317 | ▼ 71.4% |
| Taxes, remuneration and social security45 | - | €6k | €16k | €16k | €16k | ▲ 5.3% |
| Taxes450/3 | - | €3k | €13k | €12k | €13k | ▲ 6.6% |
| Remuneration and social security454/9 | - | €3k | €3k | €3k | €3k | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €4k | €-19k | €-9k | €-5k | ▲ 43.5% |
| + Depreciation and write-downs630 | €8k | €8k | €9k | €7k | €732 | ▼ 89.7% |
| Operating cash flow (approximation) | €3k | €12k | €-10k | €-2k | €-5k | ▼ 99.4% |
| Investment in fixed assets (approximation) | - | €-4k | €-2k | €0 | €1k | - |
| Change in cash | - | €-18k | €-5k | €2k | €-2k | ▼ 236% |
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
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €4k
Net result €4k after 3 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Registered office, Fernelmont · 1 establishment unit since 2009
Ground area
1,988 m²
Building footprint
296 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
ORSYS-Electronics.com
since 20092.178.542.794
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92335B0204/00C000 | Wallonia | 1,048 m² | 1 · 135 m² | - |
| 92096B0036/00E002 | Wallonia | 941 m² | 1 · 161 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 4,765 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-05-2009
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
18200Printing and reproduction of recorded media
46500Wholesale of information and communication equipment
47400Retail sale of information and communication equipment
59130Motion picture, video and television programme production, sound recording and music publishing activities
71209Other technical testing and analysis
Contact
Website
orsys@orced.be
E-mail
orsys@skynet.beEghezée
Phone
0479/70.82.30Eghezée
Scores and ratios are computed by Checked and are not a credit decision.