ORFYS
Open bankruptcyA bankruptcy procedure is open for ORFYS according to publications in the Belgian State Gazette; curator: Ali HEERMAN.
Summary
The 2024 annual accounts show equity of €685k and a net result of €-958k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 993 sector peers (2024).
NBB · sector comparisonPosition among 993 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 20-05-2025, 20 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 filed
2024
20 d late
2023
on the day
2022
40 d early
2021
15 d early
2020
on the day
2019
10 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€685k▼ 58.3%
2023 · €1.64M
2018: €495k
2019: €539k
2020: €704k
2021: €805k
2022: €1.15M
2023: €1.64M
2018 → 2024
Total assets
€12.34M▲ 77.0%
2023 · €6.97M
2018: €1.71M
2019: €2.01M
2020: €2.45M
2021: €2.27M
2022: €3.17M
2023: €6.97M
2018 → 2024
Net result
€-958k
2023 · €496k
2018: €28k
2019: €44k
2020: €165k
2021: €101k
2022: €342k
2023: €496k
2018 → 2024
Working capital
€8.51M▲ 102%
2023 · €4.22M
2018: €418k
2019: €498k
2020: €658k
2021: €698k
2022: €1.36M
2023: €4.22M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€704k-€805k▲ 14.3%€1.15M▲ 42.5%€1.64M▲ 43.3%€685k▼ 58.3%
Operating result€257k-€152k▼ 41.0%€474k▲ 213%€690k▲ 45.6%€-769k
Net result€165k-€101k▼ 38.9%€342k▲ 239%€496k▲ 45.1%€-958k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €769k after €690k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €12.34M
Fixed assets
€1.01M ▼ 16.2%
Current assets
€11.33M ▲ 96.5%
Equity and liabilities €12.34M
Equity
€685k ▼ 58.3%
Debt
€11.65M ▲ 119%
Debt's share of the balance-sheet total rises from 76.4% to 94.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-532k▼
2023 · €910k
Cash flow
€-721k▼
2023 · €716k
Current ratio
4.02▲
2023 · 3.73
Quick ratio
1.57▼
2023 · 3.34
Debt to equity
17.01▲
2023 · 3.24
ROE
-139.9%▼
2023 · 30.2%
ROA
-7.8%▼
2023 · 7.1%
Interest coverage
-2.72▼
2023 · 26.83
Debt ≤ 1 year
€2.82M▲
2023 · €1.55M
Debt > 1 year
€584k▼
2023 · €798k
Staff costs
€369k▲
2023 · €322k
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 · 2024 against 2023 · 62 lines
Balance sheet
Code20232024
Assets
Total assets20/58€6.97M€12.34M▲
Fixed assets21/28€1.21M€1.01M▼
Intangible fixed assets21€418€127▼
Tangible fixed assets22/27€1.21M€1.01M▼
Land and buildings22€354k€326k▼
Plant, machinery and equipment23€56k€157k▲
Furniture and vehicles24€796k€527k▼
Current assets29/58€5.77M€11.33M▲
Amounts receivable after more than one year29€300k€300k=
Other amounts receivable291€300k€300k=
Stocks and contracts in progress3€596k€6.90M▲
Stocks30/36€596k€6.90M▲
Amounts receivable within one year40/41€3.50M€3.33M▼
Trade receivables40€877k€390k▼
Other amounts receivable41€2.63M€2.94M▲
Cash at bank and in hand54/58€1.27M€706k▼
Deferred charges and accrued income490/1€92k€90k▼
Equity and liabilities
Total equity and liabilities10/49€6.97M€12.34M▲
Equity10/15€1.64M€685k▼
Contributions10/11€42k€42k=
Reserves13€1.60M€1.60M=
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Tax-exempt reserves132€573k€526k▼
Distributable reserves133€1.02M€1.07M▲
Profit (loss) carried forward14-€-958k
Amounts payable17/49€5.33M€11.65M▲
Amounts payable after more than one year17€798k€584k▼
Financial debts170/4€798k€584k▼
Amounts payable within one year42/48€1.55M€2.82M▲
Current portion of amounts payable after more than one year42€339k€254k▼
Financial debts43-€500k
Credit institutions430/8-€500k
Trade debts44€1.02M€2.01M▲
Suppliers440/4€1.02M€2.01M▲
Taxes, remuneration and social security45€83k€47k▼
Taxes450/3€37k-
Remuneration and social security454/9€46k€47k▲
Other amounts payable47/48€100k-
Accrued charges and deferred income492/3€2.98M€8.25M▲
Income statement
Code20232024
Non-recurring operating income76A€125k€3k▼
Remuneration, social security and pensions62€322k€369k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€220k€238k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€30k
Other operating charges640/8€431k€450k▲
Non-recurring operating charges66A-€312
Gross operating margin9900€1.66M€317k▼
Operating profit (loss)9901€690k€-769k▼
Financial income75/76B€3k€6k▲
Recurring financial income75€3k€6k▲
Financial charges65/66B€34k€195k▲
Recurring financial charges65€34k€195k▲
Profit (loss) for the period before taxes9903€659k€-958k▼
Income taxes67/77€163k-
Profit (loss) for the period9904€496k€-958k▼
Transfer from tax-exempt reserves789-€47k
Transfer to tax-exempt reserves689€421k-
Profit (loss) for the period to be appropriated9905€75k€-912k▼
Appropriation of the result
Profit (loss) to be appropriated9906€75k€-912k▼
Transfer to equity691/2€75k€47k▼
To other reserves6921€75k€47k▼
Social balance
Average headcount (FTE)90876.65.4▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
20-03
State Gazette act
Appointment: Mieke VERPLANCKE (voorlopig bewindvoerder)Resignations: Kurt Reynvoet (director) and Koen Reynvoet (director)3 facts ▸
State Gazette act
Appointment: Mieke VERPLANCKE (voorlopig bewindvoerder)
Resignations: Kurt Reynvoet (director) and Koen Reynvoet (director)3 facts ▸
- Director appointment, Mieke VERPLANCKE (voorlopig bewindvoerder)
- Director resignation, Kurt Reynvoet (director)
- Director resignation, Koen Reynvoet (director)
18-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oudenaarde · ORFYS BV KOKERSTRAAT 2, 9750 ZINGEM · event 12-03-2026
2025
20-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
30-09
Financial
Weakest financial yearnet €-958k ▼293%
Net result drops to €-958k, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2018net €496k ▲45.1%
Operating result €690k, net result €496k, both a record.
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €1MEq €1.15M ▲42.5%
5 profitable years in a row build equity to €1.15M.
15-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Equity above €500kEq €539k ▲8.9%
2 profitable years in a row build equity to €539k.
Show earlier events
14-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
Mieke VERPLANCKE
CurrentVoorlopig bewindvoerder · since 05-03-2026
20-03-2026
Koen Reynvoet: Resigned as Director
20-03-2026
REYNVOET Kurt: Resigned as Director
05-03-2026
Mieke VERPLANCKE: Appointed as Voorlopig bewindvoerder
Location & real-estate footprint
Registered office, Kruisem · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kokerstraat 29750 KruisemGround area
4,346 m²
Building footprint
738 m²
Volume, LiDAR
5,503 m³
Parcel 45015C1101/00D000, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
S & J
since 20152.241.203.707
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45015C1101/00D000 | Flanders | 4,346 m² | 1 · 738 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Ali HEERMAN EINESTRAAT 34, 9700 OUDENAARDE- |
12-03-2026 → present |
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 473 EUR awarded · 473 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 31 EUR | 31 EUR |
| 2022 | 1 | 442 EUR | 442 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 7,375 companies in sector 95311 we hold annual accounts for 2,959. 1,936 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-12-1999
Fiscal year end30-09
Activities, NACEBEL 2025
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
52210Service activities incidental to land transportation
43350Other building finishing work
47811Retail sale of cars and light vans (up to 3.5 tonnes)
47210Retail sale of fruit and vegetables
49330On-demand passenger transport by chauffeured vehicle
52100Warehousing and storage
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.