ORSA
ActiveSummary
ORSA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €907k and a net result of €173k. Equity is growing by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 1221 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
92
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability92▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 24.22 against 4.39 in 2023; short-term debt: 3.3% and cash: 46.5% of total assets), and 3.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
96.7%
Return on assets
18.5%
Age of the figures
21 mo
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
19 d late
2022
29 d late
2021
92 d late
2020
25 d early
2019
23 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€907k▲ 23.6%
2023 · €734k
2018: €365k
2019: €227k
2020: €391k
2021: €494k
2022: €562k
2023: €734k
2018 → 2024
Total assets
€939k▲ 8.9%
2023 · €862k
2018: €456k
2019: €580k
2020: €486k
2021: €584k
2022: €639k
2023: €862k
2018 → 2024
Net result
€173k▲ 0.7%
2023 · €172k
2018: €78k
2019: €111k
2020: €165k
2021: €103k
2022: €68k
2023: €172k
2018 → 2024
Working capital
€730k▲ 68.3%
2023 · €434k
2018: €110k
2019: €-24k
2020: €141k
2021: €267k
2022: €360k
2023: €434k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€391k-€494k▲ 26.3%€562k▲ 13.7%€734k▲ 30.6%€907k▲ 23.6%
Operating result€222k-€140k▼ 36.8%€96k▼ 31.5%€228k▲ 137%€233k▲ 2.5%
Net result€165k-€103k▼ 37.4%€68k▼ 34.2%€172k▲ 154%€173k▲ 0.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 3% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €939k
Fixed assets
€177k ▼ 40.9%
Current assets
€761k ▲ 35.5%
Equity and liabilities €939k
Equity
€907k ▲ 23.6%
Debt
€31k ▼ 75.5%
Debt's share of the balance-sheet total falls from 14.9% to 3.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€249k▼
2023 · €272k
Cash flow
€189k▼
2023 · €216k
Current ratio
24.22▲
2023 · 4.39
Debt to equity
0.03▼
2023 · 0.17
ROE
19.1%▼
2023 · 23.5%
ROA
18.5%▼
2023 · 20.0%
Interest coverage
107.89▼
2023 · 120.99
Debt ≤ 1 year
€31k▼
2023 · €128k
Income taxes
€61k▲
2023 · €58k
Staff costs
€176k▼
2023 · €254k
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 · 51 lines
Balance sheet
Code20232024
Assets
Total assets20/58€862k€939k▲
Fixed assets21/28€300k€177k▼
Tangible fixed assets22/27€300k€177k▼
Land and buildings22€153k€165k▲
Plant, machinery and equipment23€21k€2k▼
Furniture and vehicles24€126k€10k▼
Current assets29/58€562k€761k▲
Stocks and contracts in progress3€63k€0▼
Stocks30/36€63k€0▼
Amounts receivable within one year40/41€263k€325k▲
Trade receivables40€246k€309k▲
Other amounts receivable41€17k€16k▼
Cash at bank and in hand54/58€235k€436k▲
Deferred charges and accrued income490/1€2k€378▼
Equity and liabilities
Total equity and liabilities10/49€862k€939k▲
Equity10/15€734k€907k▲
Contributions10/11€25k€25k=
Reserves13€3k€883k▲
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Distributable reserves133€630€883k▲
Profit (loss) carried forward14€706k€0▼
Amounts payable17/49€128k€31k▼
Amounts payable within one year42/48€128k€31k▼
Financial debts43€960€0▼
Credit institutions430/8€960€0▼
Trade debts44€54k€31k▼
Suppliers440/4€54k€31k▼
Taxes, remuneration and social security45€72k€0▼
Taxes450/3€31k€0▼
Remuneration and social security454/9€41k€0▼
Other amounts payable47/48€1k€0▼
Income statement
Code20232024
Non-recurring operating income76A€17k€134k▲
Remuneration, social security and pensions62€254k€176k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€15k▼
Other operating charges640/8€65k€17k▼
Gross operating margin9900€591k€442k▼
Operating profit (loss)9901€228k€233k▲
Financial income75/76B€5k€3k▼
Recurring financial income75€5k€3k▼
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€230k€234k▲
Income taxes67/77€58k€61k▲
Profit (loss) for the period9904€172k€173k▲
Profit (loss) for the period to be appropriated9905€172k€173k▲
Appropriation of the result
Profit (loss) to be appropriated9906€706k€879k▲
Profit (loss) brought forward from the previous period14P€534k€706k▲
Transfer to equity691/2-€879k
To other reserves6921-€879k
Social balance
Average headcount (FTE)90873.82.9▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €173k ▲0.7%
Operating result €233k, net result €173k, both a record.
31-12
Financial
Liquidity times 6current ratio 24.22
Current ratio from 4.39 to 24.22; short-term debt falls from €128k to €31k.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 19 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet €68k ▼34.2%
Net result drops to €68k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €562k ▲13.7%
5 profitable years in a row build equity to €562k.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 92 days late
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity triplescurrent ratio 2.49
Current ratio from 0.93 to 2.49; short-term debt falls from €342k to €95k.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Pelt · 1 establishment unit since 1992
Ground area
6,966 m²
Building footprint
3,582 m²
Volume, LiDAR
26,536 m³
Parcel 72502E0102/00Z147, Flanders · tallest building 9.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Orsa
since 19922.059.112.040
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72502E0102/00Z147 | Flanders | 6,966 m² | 1 · 3,582 m² | 9.0 m · 3 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.
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Of 710 companies in sector 25510 we hold annual accounts for 409. 284 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
Founded25-09-1992
Fiscal year end31-12
Activities, NACEBEL 2025
25510Coating of metals
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.