ORES
ActiveSummary
ORES has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €146k and a net result of €-2k. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 76% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-7
Solvency91=
Growth44▼-16
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity short (current ratio 0.35 against 0.31 in 2024; short-term debt: 33.8% and cash: 3.7% of total assets), and 33.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
18 d late
2023
28 d late
2022
25 d late
2021
157 d late
2020
53 d late
2019
29 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€23k▼ 37.8%
2019 · €37k
2018: €24k
2019: €37k▲ +54.2% vs 2018highest in 3 years
2020: €23k▼ -37.8% vs 2019lowest in 3 years
2018 → 2020
EBIT margin
37.2%▼ 22.8pp
2019 · 60.0%
2018: 40.0%
2019: 60.0%▲ +50.0% vs 2018highest in 3 years
2020: 37.2%▼ -38.0% vs 2019lowest in 3 years
2018 → 2020
Net result
€-2k
2024 · €12k
2018: €7k
2019: €13k▲ +94.0% vs 2018highest in 8 years
2020: €4k▼ -65.3% vs 2019
2021: €-4k▼ -196% vs 2020
2022: €-7k▼ -52.5% vs 2021
2023: €-7k▼ -2.0% vs 2022lowest in 8 years
2024: €12k▲ +280% vs 2023
2025: €-2k▼ -117% vs 2024
2018 → 2025
Working capital
€-48k▲ 9.7%
2024 · €-54k
2018: €-99klowest in 8 years
2019: €-84k▲ +14.7% vs 2018
2020: €-73k▲ +13.7% vs 2019
2021: €-74k▼ -1.5% vs 2020
2022: €-73k▲ +0.9% vs 2021
2023: €-73k▲ +0.8% vs 2022
2024: €-54k▲ +26.3% vs 2023
2025: €-48k▲ +9.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€149k-€143k▼ 4.3%€136k▼ 4.6%€148k▲ 8.8%€146k▼ 1.4%
2021: €149khighest in 5 years
2022: €143k▼ -4.3% vs 2021
2023: €136k▼ -4.6% vs 2022lowest in 5 years
2024: €148k▲ +8.8% vs 2023
2025: €146k▼ -1.4% vs 2024
Operating result€-4k-€-6k▼ 39.0%€-6k▼ 10.3%€12k€-2k
2021: €-4k
2022: €-6k▼ -39.0% vs 2021
2023: €-6k▼ -10.3% vs 2022lowest in 5 years
2024: €12k▲ +302% vs 2023highest in 5 years
2025: €-2k▼ -114% vs 2024
Net result€-4k-€-7k▼ 52.5%€-7k▼ 2.0%€12k€-2k
2021: €-4k
2022: €-7k▼ -52.5% vs 2021
2023: €-7k▼ -2.0% vs 2022lowest in 5 years
2024: €12k▲ +280% vs 2023highest in 5 years
2025: €-2k▼ -117% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €2k after €12k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €221k
Fixed assets
€195k ▼ 3.6%
Current assets
€26k ▲ 9.3%
Equity and liabilities €221k
Equity
€146k ▼ 1.4%
Debt
€75k ▼ 3.8%
Debt's share of the balance-sheet total falls from 34.3% to 33.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5k▼
2024 · €20k
Cash flow
€5k▼
2024 · €19k
Current ratio
0.35▲
2024 · 0.31
Debt to equity
0.51▼
2024 · 0.52
ROE
-1.4%▼
2024 · 8.1%
ROA
-0.9%▼
2024 · 5.3%
Interest coverage
17.74▼
2024 · 54.01
Debt ≤ 1 year
€75k▼
2024 · €78k
Staff costs
€43k▲
2024 · €43k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€226k€221k▼
Fixed assets21/28€202k€195k▼
Tangible fixed assets22/27€202k€195k▼
Plant, machinery and equipment23€202k€195k▼
Current assets29/58€24k€26k▲
Amounts receivable within one year40/41€18k€18k=
Trade receivables40€18k€18k=
Cash at bank and in hand54/58€6k€8k▲
Equity and liabilities
Total equity and liabilities10/49€226k€221k▼
Equity10/15€148k€146k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€80k€78k▼
Amounts payable17/49€78k€75k▼
Amounts payable within one year42/48€78k€75k▼
Trade debts44€306€1k▲
Suppliers440/4€306€1k▲
Taxes, remuneration and social security45€10k€12k▲
Taxes450/3€923-
Remuneration and social security454/9€9k€12k▲
Other amounts payable47/48€67k€62k▼
Income statement
Code20242025
Remuneration, social security and pensions62€43k€43k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k=
Other operating charges640/8€8k€9k▲
Gross operating margin9900€71k€58k▼
Operating profit (loss)9901€12k€-2k▼
Financial charges65/66B€361€309▼
Recurring financial charges65€361€309▼
Profit (loss) for the period before taxes9903€12k€-2k▼
Profit (loss) for the period9904€12k€-2k▼
Profit (loss) for the period to be appropriated9905€12k€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€80k€78k▼
Profit (loss) brought forward from the previous period14P€68k€80k▲
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €20k | €43k | €43k | ▲ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | €7k | €7k | = |
| Other operating charges640/8 | €347 | €10k | €8k | €8k | €9k | ▲ 3.1% |
| Gross operating margin9900 | €4k | €12k | €29k | €71k | €58k | ▼ 19.0% |
| Operating profit (loss)9901 | €-4k | €-6k | €-6k | €12k | €-2k | ▼ 114% |
| Financial charges65/66B | €289 | €432 | €539 | €361 | €309 | ▼ 14.4% |
| Recurring financial charges65 | €289 | €432 | €539 | €361 | €309 | ▼ 14.4% |
| Profit (loss) for the period before taxes9903 | €-4k | €-6k | €-7k | €12k | €-2k | ▼ 117% |
| Income taxes67/77 | - | €547 | - | - | - | - |
| Profit (loss) for the period9904 | €-4k | €-7k | €-7k | €12k | €-2k | ▼ 117% |
| Profit (loss) for the period to be appropriated9905 | €-4k | €-7k | €-7k | €12k | €-2k | ▼ 117% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €224k | €218k | €213k | €226k | €221k | ▼ 2.2% |
| Fixed assets21/28 | €223k | €216k | €209k | €202k | €195k | ▼ 3.6% |
| Tangible fixed assets22/27 | €223k | €216k | €209k | €202k | €195k | ▼ 3.6% |
| Land and buildings22 | €223k | - | - | - | - | - |
| Plant, machinery and equipment23 | - | €216k | €209k | €202k | €195k | ▼ 3.6% |
| Current assets29/58 | €778 | €1k | €4k | €24k | €26k | ▲ 9.3% |
| Amounts receivable within one year40/41 | - | - | - | €18k | €18k | = |
| Trade receivables40 | - | - | - | €18k | €18k | = |
| Cash at bank and in hand54/58 | €778 | €1k | €4k | €6k | €8k | ▲ 37.4% |
| Deferred charges and accrued income490/1 | - | - | €201 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €224k | €218k | €213k | €226k | €221k | ▼ 2.2% |
| Equity10/15 | €149k | €143k | €136k | €148k | €146k | ▼ 1.4% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €81k | €75k | €68k | €80k | €78k | ▼ 2.5% |
| Amounts payable17/49 | €75k | €75k | €77k | €78k | €75k | ▼ 3.8% |
| Amounts payable within one year42/48 | €75k | €75k | €77k | €78k | €75k | ▼ 3.8% |
| Trade debts44 | €237 | €237 | €406 | €306 | €1k | ▲ 234% |
| Suppliers440/4 | €237 | €237 | €406 | €306 | €1k | ▲ 234% |
| Taxes, remuneration and social security45 | €4k | - | €5k | €10k | €12k | ▲ 18.1% |
| Taxes450/3 | €4k | - | €218 | €923 | - | - |
| Remuneration and social security454/9 | - | - | €5k | €9k | €12k | ▲ 30.2% |
| Other amounts payable47/48 | €71k | €75k | €71k | €67k | €62k | ▼ 8.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-4k | €-7k | €-7k | €12k | €-2k | ▼ 117% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | €7k | €7k | = |
| Operating cash flow (approximation) | €3k | €696 | €568 | €19k | €5k | ▼ 73.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €686 | €2k | €2k | €2k | ▼ 4.4% |
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
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
31-12
Financial
Back to profitnet €12k
Net result €12k after 3 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
04-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 157 days late
2021
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 53 days late
2020
31-12
Financial
Equity above €150kEq €154k ▲3%
3 profitable years in a row build equity to €154k.
29-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
2019
31-12
Financial
Highest result since 2018net €13k ▲94%
Operating result €22k, net result €13k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 92 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
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, Vorst · 1 establishment unit since 2002
Ground area
264 m²
Building footprint
219 m²
Volume, LiDAR
1,909 m³
2 parcels, Brussels · tallest building 15.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Meiseselaan 5, 1020 Brussel
since 20022.094.628.490
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818A0205/00Z000 | Brussels | 150 m² | 1 · 150 m² | 15.6 m · 3 fl. |
| 21384D0286/00E024 | Brussels | 114 m² | 1 · 69 m² | 9.4 m · 2 fl. |
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 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,549 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-06-2001
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.