Orinoco
ActiveSummary
Orinoco has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.6m and a net result of €2.1m. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 50% of 54 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+32
Solvency71▲+9
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500,000 at 30 days acceptable
Liquidity ample (current ratio 1.92 against 1.13 in 2024; short-term debt: 13.4% and cash: 14.7% of total assets), but 54.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 50
Relative position
BE, all sectors
reference
Water transport (NACE 50)
about 39% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.7%
Return on assets
14.7%
Age of the figures
9 mo
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
57 d early
2023
8 d late
2022
47 d early
2021
46 d early
2020
44 d early
2019
7 d late
← 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 26 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 41% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€2.1m
2024 · -€255,566
Working capital
€1.8m▲ 662%
2024 · €236,042
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
Line20212022202320242025
Operating result€201,387€1.5m▲ 666%€368,524▼ 76.1%€148,224▼ 59.8%€3.3m▲ 2,099%
Net result€382,045€1.5m▲ 305%€51,381▼ 96.7%-€255,566€2.1m
Equity€3.1m▲ 13.9%€4.7m▲ 49.4%€4.7m▲ 1.1%€4.5m▼ 5.4%€6.6m▲ 47.5%
Total assets€10.6m▲ 11.7%€13.4m▲ 26.1%€13.2m▼ 1.1%€12.1m▼ 8.7%€14.5m▲ 19.8%
Debt€7.2m▲ 16.3%€8.4m▲ 16.7%€8.2m▼ 3.0%€7.2m▼ 11.6%€6.8m▼ 5.6%
Working capital-€916,929▼ 84.6%-€323,260▲ 64.7%-€143,839▲ 55.5%€236,042€1.8m▲ 662%
Staff (FTE)13.4▲ 113%13.5▲ 0.7%15.8▲ 17.0%15.4▼ 2.5%14.3▼ 7.1%
Why a figure moved sharply
- 2023 Net result -97% on 2022. Cause not known from the registers.
- 2022 Net result +305% on 2021. Cause not known from the registers.
- 2021 Staff (FTE) +113% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 2,099% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.5m
Fixed assets
€10.7m ▲ 6.4%
Current assets
€3.7m ▲ 87.7%
Equity and liabilities €14.5m
Equity
€6.6m ▲ 47.5%
Provisions
€1.1m ▲ 172%
Debt
€6.8m ▼ 5.6%
Debt's share of the balance-sheet total falls from 59.7% to 47.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.7m▲
2024 · €1.3m
Cash flow
€2.5m▲
2024 · €911,645
Current ratio
1.92▲
2024 · 1.13
Debt to equity
1.03▼
2024 · 1.61
ROE
32.2%▲
2024 · -5.7%
ROA
14.7%▲
2024 · -2.1%
Interest coverage
12.85▲
2024 · 4.62
Debt ≤ 1 year
€1.9m▲
2024 · €1.8m
Debt > 1 year
€4.8m▼
2024 · €5.4m
Income taxes
€145,488▼
2024 · €148,121
Staff costs
€1.5m▲
2024 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 20,082 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €22,805 | €31,365 | €6,276 | €6,276 | €2.9m | ▲ 46,363% |
| Remuneration, social security and pensions62 | €923,373 | €992,617 | €1.6m | €1.5m | €1.5m | ▲ 1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €327,227 | €242,485 | €990,192 | €1.2m | €414,941 | ▼ 64.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €3,026 | €0 | ▼ 100% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €30,000 | €30,000 | -€10,000 | €60,000 | -€45,000 | ▼ 175% |
| Other operating charges640/8 | €10,372 | €16,395 | €9,264 | €8,141 | €149,702 | ▲ 1,739% |
| Non-recurring operating charges66A | €0 | - | - | - | €354,304 | - |
| Gross operating margin9900 | €1.5m | €2.8m | €3.0m | €2.9m | €5.6m | ▲ 96.4% |
| Operating profit (loss)9901 | €201,387 | €1.5m | €368,524 | €148,224 | €3.3m | ▲ 2,099% |
| Financial income75/76B | €37,045 | €217,906 | €21,590 | €21,180 | €15,414 | ▼ 27.2% |
| Recurring financial income75 | €37,045 | €217,906 | €21,590 | €21,180 | €15,414 | ▼ 27.2% |
| Financial charges65/66B | €164,740 | €217,882 | €279,532 | €284,806 | €285,945 | ▲ 0.4% |
| Recurring financial charges65 | €164,740 | €217,882 | €279,532 | €284,806 | €285,945 | ▲ 0.4% |
| Profit (loss) for the period before taxes9903 | €73,693 | €1.5m | €110,583 | -€115,402 | €3.0m | ▲ 2,690% |
| Transfer from deferred taxes780 | €310,496 | €7,795 | €7,957 | €7,957 | €12,271 | ▲ 54.2% |
| Transfer to deferred taxes680 | - | - | - | - | €727,385 | - |
| Income taxes67/77 | €2,143 | €1,338 | €67,158 | €148,121 | €145,488 | ▼ 1.8% |
| Profit (loss) for the period9904 | €382,045 | €1.5m | €51,381 | -€255,566 | €2.1m | ▲ 933% |
| Transfer from tax-exempt reserves789 | €735,535 | €15,138 | €15,138 | €15,138 | €25,901 | ▲ 71.1% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €2.2m | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €1.6m | €66,520 | -€240,427 | -€27,577 | ▲ 88.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.6m | €13.4m | €13.2m | €12.1m | €14.5m | ▲ 19.8% |
| Fixed assets21/28 | €9.3m | €11.9m | €11.2m | €10.1m | €10.7m | ▲ 6.4% |
| Tangible fixed assets22/27 | €7.6m | €10.3m | €11.1m | €9.9m | €10.6m | ▲ 6.5% |
| Plant, machinery and equipment23 | €335 | €0 | €2,916 | €2,322 | €11,610 | ▲ 400% |
| Furniture and vehicles24 | €7.1m | €9.7m | €10.6m | €9.5m | €10.2m | ▲ 7.1% |
| Leasing and similar rights25 | €448,584 | €415,009 | €381,434 | €347,859 | €314,267 | ▼ 9.7% |
| Other tangible fixed assets26 | €106,387 | €106,230 | €106,074 | €105,917 | €105,760 | ▼ 0.1% |
| Financial fixed assets28 | €1.7m | €1.7m | €112,000 | €140,000 | €140,000 | = |
| Current assets29/58 | €1.3m | €1.5m | €2.0m | €2.0m | €3.7m | ▲ 87.7% |
| Amounts receivable after more than one year29 | €677,640 | €512,829 | €344,452 | €344,743 | €24,467 | ▼ 92.9% |
| Other amounts receivable291 | €677,640 | €512,829 | €344,452 | €344,743 | €24,467 | ▼ 92.9% |
| Amounts receivable within one year40/41 | €24,689 | €321,920 | €506,959 | €792,795 | €934,238 | ▲ 17.8% |
| Trade receivables40 | - | €128,082 | €341,769 | €696,454 | €856,858 | ▲ 23.0% |
| Other amounts receivable41 | €24,689 | €193,839 | €165,191 | €96,341 | €77,380 | ▼ 19.7% |
| Current investments50/53 | €500,000 | €432,281 | €492,588 | €500,000 | €500,000 | = |
| Cash at bank and in hand54/58 | €101,346 | €89,075 | €525,896 | €195,691 | €2.1m | ▲ 985% |
| Deferred charges and accrued income490/1 | €7,885 | €99,637 | €160,704 | €161,495 | €161,716 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.6m | €13.4m | €13.2m | €12.1m | €14.5m | ▲ 19.8% |
| Equity10/15 | €3.1m | €4.7m | €4.7m | €4.5m | €6.6m | ▲ 47.5% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €1.2m | €1.2m | €1.2m | €1.2m | €3.4m | ▲ 179% |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Tax-exempt reserves132 | €421,350 | €406,212 | €391,074 | €375,935 | €2.5m | ▲ 574% |
| Distributable reserves133 | €819,542 | €819,542 | €819,542 | €819,542 | €819,542 | = |
| Profit (loss) carried forward14 | €1.8m | €3.4m | €3.5m | €3.2m | €3.2m | ▼ 0.9% |
| Provisions and deferred taxes16 | €261,962 | €284,167 | €337,423 | €389,466 | €1.1m | ▲ 172% |
| Provisions for liabilities and charges160/5 | €45,000 | €75,000 | €135,000 | €195,000 | €150,000 | ▼ 23.1% |
| Major repairs and maintenance162 | €45,000 | €75,000 | €135,000 | €195,000 | €150,000 | ▼ 23.1% |
| Deferred taxes168 | €216,962 | €209,167 | €202,423 | €194,466 | €909,580 | ▲ 368% |
| Amounts payable17/49 | €7.2m | €8.4m | €8.2m | €7.2m | €6.8m | ▼ 5.6% |
| Amounts payable after more than one year17 | €5.0m | €6.6m | €6.0m | €5.4m | €4.8m | ▼ 10.2% |
| Financial debts170/4 | €4.7m | €6.5m | €6.0m | €5.4m | €4.8m | ▼ 10.2% |
| Other amounts payable178/9 | €300,000 | €105,768 | €0 | - | - | - |
| Amounts payable within one year42/48 | €2.2m | €1.8m | €2.2m | €1.8m | €1.9m | ▲ 10.6% |
| Current portion of amounts payable after more than one year42 | €431,796 | €552,164 | €552,536 | €552,912 | €553,293 | ▲ 0.1% |
| Financial debts43 | €1.7m | €1.1m | €1.2m | €936,072 | €818,382 | ▼ 12.6% |
| Credit institutions430/8 | €1.0m | €1.1m | €915,943 | €936,072 | €818,382 | ▼ 12.6% |
| Other loans439 | €660,738 | €0 | €318,670 | €0 | - | - |
| Trade debts44 | €93,269 | €69,763 | €283,059 | €183,314 | €465,852 | ▲ 154% |
| Suppliers440/4 | €93,269 | €69,763 | €283,059 | €183,314 | €465,852 | ▲ 154% |
| Taxes, remuneration and social security45 | €25,186 | €69,311 | €104,231 | €86,384 | €108,024 | ▲ 25.1% |
| Taxes450/3 | €2,257 | €3,648 | €167 | €443 | €66,166 | ▲ 14,848% |
| Remuneration and social security454/9 | €22,929 | €65,662 | €104,064 | €85,941 | €41,858 | ▼ 51.3% |
| Other amounts payable47/48 | €0 | - | - | - | €20 | - |
| Accrued charges and deferred income492/3 | €22,288 | €19,789 | €27,081 | €45,450 | €8,274 | ▼ 81.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €382,045 | €1.5m | €51,381 | -€255,566 | €2.1m | ▲ 933% |
| + Depreciation and write-downs630 | €327,227 | €242,485 | €990,192 | €1.2m | €414,941 | ▼ 64.5% |
| Operating cash flow (approximation) | €709,273 | €1.8m | €1.0m | €911,645 | €2.5m | ▲ 179% |
| Investment in fixed assets (approximation) | - | -€2.9m | -€264,396 | -€49,264 | -€1.1m | ▼ 2,055% |
| Change in cash | - | -€12,271 | €436,821 | -€330,205 | €1.9m | ▲ 684% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €2.1m
Net result €2.1m after one loss-making year.
31-12
Financial
Equity above €5mEq €6.6m ▲47.5%
Equity rises from €4.5m to €6.6m.
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 8 days late
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €382,045
Net result €382,045 after 2 loss-making years.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€270,452
Net result drops to -€270,452, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 7 days late
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Antwerpen · 1 establishment unit since 1992
Ground area
2,931 m²
Building footprint
3,043 m²
Volume, LiDAR
28 m³
Parcel 11811L3925/00Z003, Flanders · tallest building 1.8 m. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
ORINOCO NV
since 19922.102.865.968
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3925/00Z003 | Flanders | 2,930 m² | 1 · 3,043 m² | 1.8 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 2 holdingsChain of control
- MARACAY
- Orinoco
Highest known parent: MARACAY. The sources do not say who stands above it.
Owners 2
- MARACAYparent85.2%
-
14.8%
Holdings 2
-
28%
-
28%
According to the 2025 annual accounts of Orinoco and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 247,343 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 247,343 EUR | 0 EUR |
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Of 1,337 companies in sector 50400 we hold annual accounts for 394. 139 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
Founded06-08-1992
Fiscal year end31-12
Activities, NACEBEL 2025
50400Inland freight water transport
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447987867
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.