ORK
Judicial reorganisationSummary
The file of ORK contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show equity of €202k and a net result of €-76k. Equity is shrinking by ~27.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 28% of 14079 sector peers (fiscal year 2025).
Checked score
Score 2025
24
/ 100
Critical
The score weighs solvency, liquidity, profitability and financial development. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability21▲+1
Solvency31▼-10
Growth52=
Track record60
Credit verdict
No credit on open account during an ongoing judicial reorganisation
Liquidity tight (current ratio 1.04 against 0.02 in 2024; short-term debt: 48.3% and cash: 0.1% of total assets), and 94.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819232425
2018 to 2025 · latest year €-76k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 9 filingsDeviation from the deadline
2025
24 d late
2024
119 d late
2023
92 d late
2019
165 d late
2018
208 d late
2017
61 d late
2016
17 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-76k▲ 4.7%
2024 · €-80k
2018: €-27k
2019: €-46k
2023: €-102k
2024: €-80k
2018 → 2025
Working capital
€70k
2024 · €-941k
2018: €-344k
2019: €-213k
2023: €-905k
2024: €-941k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202320242025Trend
Equity€-31k-€818k€358k▼ 56.3%€278k▼ 22.3%€202k▼ 27.4%
Operating result€-12k-€116k€-64k€-33k▲ 47.6%€-61k▼ 83.0%
Net result€-27k-€-46k▼ 72.0%€-102k▼ 121%€-80k▲ 22.1%€-76k▲ 4.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €61k in 2025 against €33k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.39M
Fixed assets
€1.69M ▼ 4.1%
Current assets
€1.71M ▲ 7,839%
Equity and liabilities €3.39M
Equity
€202k ▼ 27.4%
Debt
€3.19M ▲ 113%
Debt's share of the balance-sheet total rises from 84.4% to 94.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11k▼
2024 · €40k
Cash flow
€-4k▲
2024 · €-7k
Current ratio
1.04▲
2024 · 0.02
Quick ratio
0.01▼
2024 · 0.02
Debt to equity
15.82▲
2024 · 5.40
ROE
-37.7%▼
2024 · -28.7%
ROA
-2.2%▲
2024 · -4.5%
Interest coverage
0.62▼
2024 · 0.85
Debt ≤ 1 year
€1.64M▲
2024 · €963k
Debt > 1 year
€1.55M▲
2024 · €534k
Income taxes
€-3k
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.78M€3.39M▲
Fixed assets21/28€1.76M€1.69M▼
Tangible fixed assets22/27€1.76M€1.69M▼
Land and buildings22€1.71M€1.65M▼
Plant, machinery and equipment23€45k€39k▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28-€180
Current assets29/58€22k€1.71M▲
Stocks and contracts in progress3-€1.70M
Stocks30/36-€1.70M
Amounts receivable within one year40/41€21k€4k▼
Trade receivables40€11k-
Other amounts receivable41€10k€4k▼
Cash at bank and in hand54/58€809€5k▲
Deferred charges and accrued income490/1-€434
Equity and liabilities
Total equity and liabilities10/49€1.78M€3.39M▲
Equity10/15€278k€202k▼
Contributions10/11€19k€19k=
Revaluation surpluses12€658k€634k▼
Reserves13€144k€168k▲
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€142k€168k▲
Profit (loss) carried forward14€-543k€-619k▼
Amounts payable17/49€1.50M€3.19M▲
Amounts payable after more than one year17€534k€1.55M▲
Financial debts170/4€534k€1.55M▲
Amounts payable within one year42/48€963k€1.64M▲
Current portion of amounts payable after more than one year42€33k€33k▲
Financial debts43-€51k
Credit institutions430/8-€51k
Trade debts44€63k€29k▼
Suppliers440/4€63k€29k▼
Taxes, remuneration and social security45€94k-
Taxes450/3€94k-
Other amounts payable47/48€773k€1.52M▲
Accrued charges and deferred income492/3€5k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€73k€72k▼
Other operating charges640/8€13k€10k▼
Gross operating margin9900€53k€22k▼
Operating profit (loss)9901€-33k€-61k▼
Financial income75/76B€338-
Recurring financial income75€338-
Financial charges65/66B€47k€18k▼
Recurring financial charges65€47k€18k▼
Profit (loss) for the period before taxes9903€-80k€-79k▲
Income taxes67/77-€-3k
Profit (loss) for the period9904€-80k€-76k▲
Profit (loss) for the period to be appropriated9905€-80k€-76k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-543k€-619k▼
Profit (loss) brought forward from the previous period14P€-463k€-543k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
31-07
State Gazette act
Resignation: WINKEL Stéphane (director)Appointment: CATLION (director) · Power of attorney4 facts ▸
State Gazette act
Resignation: WINKEL Stéphane (director)
Appointment: CATLION (director) · Power of attorney4 facts ▸
- General meeting, 01/04/2026
- Director resignation, WINKEL Stéphane (director)
- Director appointment, CATLION (director)
- Power of attorney, SA B.F.S.
2025
31-12
Financial
Liquidity times 47current ratio 1.04
Current ratio from 0.02 to 1.04.
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 119 days late
27-01
Judicial reorganisation
Practitioner designation
Tribunal de l’entreprise francophone de Bruxelles
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
02-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 165 days late
2023
31-12
Financial
Weakest financial yearnet €-102k
Net result drops to €-102k, the lowest in the series; recovery starts the following year.
2021
12-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 165 days late
2020
24-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 208 days late
2019
31-12
Financial
Equity above €500kEq €818k
Equity rises from €-31k to €818k.
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
Show earlier events
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 17 days late
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 17 days late
2015
27-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 27 days late
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
CATLION
CurrentDirector · since 01-04-2026 · Private limited company
01-04-2026
CATLION: Appointed as Director
01-04-2026
WINKEL Stéphane: Resigned as Director
Location & real-estate footprint
Registered office, Koekelberg · 1 establishment unit since 1990
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.
Pantheonlaan 881081 KoekelbergGround area
1,072 m²
Building footprint
607 m²
Volume, LiDAR
10,844 m³
2 parcels, Brussels · tallest building 23.5 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
O.R.K.
since 19902.049.803.010
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21011A0040/00A013 | Brussels | 946 m² | 1 · 482 m² | 23.5 m · 7 fl. |
| 21447B0237/00P000 | Brussels | 125 m² | 1 · 124 m² | 16.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Similar companies · same sector, comparable size
GREGAMON
BE 0444.922.766
Lievegem · Eq €201,709
LBJM Développements
BE 0533.750.418
Comines-Warneton · Eq €201,822
EGMAV
BE 0628.706.290
Gent · Eq €201,588
A5 IMMO
BE 0795.517.091
Andenne · Eq €202,024
Advertisement Distribution Company
BE 0462.769.182
Brugge · Eq €201,361
Of 9,140 companies in sector 68201 we hold annual accounts for 6,769. 4,796 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
Founded12-09-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.