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INVESTSUD BOIS

Active
Public limited companyfounded 200620 yrs activeMarche,Rue de la Plaine 11, 6900 Marche-en-Famenne, BelgiumKBO/BCE: BE 0882.099.588
Summary

INVESTSUD BOIS has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1.0m) and a net result of -€558,499. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 521 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).

Checked score

Score 2025
44 / 100
Weak
Negative equity caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability13▼-11
Solvency17▼-4
Growth55▼-13
Track record100
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 32.56 against 60.98 in 2024; short-term debt: 1.6% and cash: 2.5% of total assets), but equity is negative.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Seven 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 94
Relative position
BE, all sectors
reference
Activities of membership organisations (NACE 94)
about 92% 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 20 years 0 30 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
-8.3%
Return on assets
-4.6%
Age of the figures
15 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year -€1.0m
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-10-2025, 94 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
94 d early
2024
106 d early
2023
93 d early
2022
85 d early
2021
98 d early
2020
96 d early
2019
102 d early
← 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 96 days before the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 29 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

INVESTSUD BOIS was incorporated on 14 June 2006.1 The name was changed to ORSA NEXT in 2026.2 Total assets rose from EUR 9.3 million in 2019 to EUR 12 million in 2025.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 31-08-2026
  3. 3National Bank, annual accounts 2019 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€81,444▲ 78,211%
2022 · €104
EBIT margin
-367.9%▲ 318799.0pp
2022 · -319166.8%
Net result
-€558,499
2024 · €514,640
Working capital
€6.2m▲ 1.9%
2024 · €6.1m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 94, Activities of membership organisations, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€104€81,444▲ 78,211%
Operating result-€347,142▼ 161%-€331,934▲ 4.4%-€299,615▲ 9.7%-€633,308▼ 111%-€437,888▲ 30.9%
Net result€130,455above the sector's middle half▲ 299%-€827,727below the sector's middle half€185,376above the sector's middle half€514,640above the sector's middle half▲ 178%-€558,499below the sector's middle half
EBIT margin-319166.8%-367.9%▲ 318799.0pp
Equity-€324,913below the sector's middle half▲ 28.6%-€1.2mbelow the sector's middle half▼ 255%-€967,265below the sector's middle half▲ 16.1%-€452,625below the sector's middle half▲ 53.2%-€1.0mbelow the sector's middle half▼ 123%
Total assets€9.9mabove the sector's middle half▲ 1.2%€9.1mabove the sector's middle half▼ 8.3%€9.3mabove the sector's middle half▲ 2.5%€11.3mabove the sector's middle half▲ 20.7%€12.2mabove the sector's middle half▲ 7.8%
Debt€10.3m▼ 0.1%€10.3m=€10.3m▲ 0.4%€11.7m▲ 13.7%€13.2m▲ 12.2%
Working capital€7.6mabove the sector's middle half▼ 6.9%€6.7mabove the sector's middle half▼ 12.3%€4.9mabove the sector's middle half▼ 26.4%€6.1mabove the sector's middle half▲ 24.6%€6.2mabove the sector's middle half▲ 1.9%
Solvency-3.3%below the sector's middle half▲ 1.4pp-12.6%below the sector's middle half▼ 9.4pp-10.4%below the sector's middle half▲ 2.3pp-4.0%below the sector's middle half▲ 6.3pp-8.3%below the sector's middle half▼ 4.3pp
Current ratio90.11above the sector's middle half60.98above the sector's middle half▼ 29.1332.56above the sector's middle half▼ 28.42
Return on assets (ROA)1.3%within the sector's middle half▲ 1.0pp-9.1%below the sector's middle half▼ 10.4pp2.0%within the sector's middle half▲ 11.1pp4.6%within the sector's middle half▲ 2.6pp-4.6%below the sector's middle half▼ 9.2pp
above within below the middle half (P25 to P75) of NACE 94, Activities of membership organisations, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€1.0m-€500,000€0€500,000Operating result 2021: -€347,142-€347,142Net result 2021: €130,455€130,455Operating result 2022: -€331,934-€331,934Net result 2022: -€827,727-€827,727Operating result 2023: -€299,615-€299,615Net result 2023: €185,376€185,376Operating result 2024: -€633,308-€633,308Net result 2024: €514,640€514,640Operating result 2025: -€437,888-€437,888Net result 2025: -€558,499-€558,49920212022202320242025-€1m-€500,000€0€500,000Operating result 2023: -€299,615-€300,000Net result 2023: €185,376€185,000Operating result 2024: -€633,308-€633,000Net result 2024: €514,640€515,000Operating result 2025: -€437,888-€438,000Net result 2025: -€558,499-€558,000202320242025
The operating result stays negative: a loss of €437,888 in 2025 against €633,308 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.2m
Fixed assets €5.7m ▲ 13.2%
Current assets €6.4m ▲ 3.4%
Key figures and ratios
2025 value · change against 2024
EBITDA
-€436,768▲
2024 · -€632,562
Cash flow
-€557,379▼
2024 · €515,387
Debt to equity
-13.02▲
2024 · -25.91
Interest coverage
-3.06▲
2024 · -14.60
Debt ≤ 1 year
€196,729▲
2024 · €101,632
Debt > 1 year
€13.0m▲
2024 · €11.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 139 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 96% are still going.

  • Medium-sized
  • 20 years or older
  • negative equity
  • a small loss
2.2% went bankrupt
2.2% stopped otherwise
96% still going

For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

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 139 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet Code20242025
Assets
Total assets20/58€11.3m€12.2m▲
Fixed assets21/28€5.1m€5.7m▲
Tangible fixed assets22/27€2,613€1,493▼
Furniture and vehicles24€2,613€1,493▼
Financial fixed assets28€5.1m€5.7m▲
Current assets29/58€6.2m€6.4m▲
Amounts receivable within one year40/41€2.0m€1.9m▼
Trade receivables40€98,154€303,534▲
Other amounts receivable41€1.9m€1.6m▼
Current investments50/53€3.5m€4.2m▲
Cash at bank and in hand54/58€741,123€306,004▼
Deferred charges and accrued income490/1€10,387€10,453▲
Equity and liabilities
Total equity and liabilities10/49€11.3m€12.2m▲
Equity10/15-€452,625-€1.0m▼
Contributions10/11€1.5m€1.5m=
Capital10€1.5m€1.5m=
Issued capital100€1.5m€1.5m=
Reserves13€6,319€6,319=
Non-distributable reserves130/1€6,319€6,319=
Legal reserve130€602€602=
Other1319€5,717€5,717=
Profit (loss) carried forward14-€2.0m-€2.5m▼
Amounts payable17/49€11.7m€13.2m▲
Amounts payable after more than one year17€11.6m€13.0m▲
Other amounts payable178/9€11.6m€13.0m▲
Amounts payable within one year42/48€101,632€196,729▲
Trade debts44€88,679€176,682▲
Suppliers440/4€88,679€176,682▲
Taxes, remuneration and social security45€12,953€20,047▲
Taxes450/3€12,953€20,047▲
Accrued charges and deferred income492/3€1,247€1,346▲
Income statement Code20242025
Non-recurring operating income76A€184,337€11,467▼
Goods, raw materials, services and sundry goods60/61€306,935€369,180▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€747€1,120▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€76,537€75,048▲
Other operating charges640/8€3,242€4,007▲
Non-recurring operating charges66A€583,259-
Gross operating margin9900-€122,598-€357,714▼
Operating profit (loss)9901-€633,308-€437,888▲
Financial income75/76B€1.2m€321,935▼
Recurring financial income75€362,546€321,935▼
Non-recurring financial income76B€828,720-
Financial charges65/66B€43,318€442,546▲
Recurring financial charges65€43,318€142,546▲
Non-recurring financial charges66B-€300,000
Profit (loss) for the period before taxes9903€514,640-€558,499▼
Profit (loss) for the period9904€514,640-€558,499▼
Profit (loss) for the period to be appropriated9905€514,640-€558,499▼
Appropriation of the result
Profit (loss) to be appropriated9906-€2.0m-€2.5m▼
Profit (loss) brought forward from the previous period14P-€2.5m-€2.0m▲

The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Turnover70-€104€81,444---
Non-recurring operating income76A---€184,337€11,467▼ 93.8%
Goods, raw materials, services and sundry goods60/61-€309,361€345,330€306,935€369,180▲ 20.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630---€747€1,120▲ 50.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€19,135€24,873-€76,537€75,048▲ 198%
Other operating charges640/8-€3,541€10,855€3,242€4,007▲ 23.6%
Non-recurring operating charges66A---€583,259--
Gross operating margin9900-€322,612-€309,257-€263,886-€122,598-€357,714▼ 192%
Operating profit (loss)9901-€347,142-€331,934-€299,615-€633,308-€437,888▲ 30.9%
Financial income75/76B-€153,112€535,978€1.2m€321,935▼ 73.0%
Recurring financial income75€98,757€153,112€260,978€362,546€321,935▼ 11.2%
Non-recurring financial income76B--€275,000€828,720--
Financial charges65/66B-€648,906€50,987€43,318€442,546▲ 922%
Recurring financial charges65€21,160€298,906€50,987€43,318€142,546▲ 229%
Non-recurring financial charges66B-€350,000--€300,000-
Profit (loss) for the period before taxes9903€130,455-€827,727€185,376€514,640-€558,499▼ 209%
Profit (loss) for the period9904€130,455-€827,727€185,376€514,640-€558,499▼ 209%
Profit (loss) for the period to be appropriated9905€130,455-€827,727€185,376€514,640-€558,499▼ 209%
Line20212022202320242025Change
Assets
Total assets20/58€9.9m€9.1m€9.3m€11.3m€12.2m▲ 7.8%
Fixed assets21/28€2.3m€2.5m€4.4m€5.1m€5.7m▲ 13.2%
Tangible fixed assets22/27---€2,613€1,493▼ 42.9%
Furniture and vehicles24---€2,613€1,493▼ 42.9%
Financial fixed assets28€2.3m€2.5m€4.4m€5.1m€5.7m▲ 13.2%
Current assets29/58€7.6m€6.7m€4.9m€6.2m€6.4m▲ 3.4%
Amounts receivable within one year40/41€244,754€1.7m€2.1m€2.0m€1.9m▼ 3.1%
Trade receivables40-€27,359€110,235€98,154€303,534▲ 209%
Other amounts receivable41-€1.7m€1.9m€1.9m€1.6m▼ 14.1%
Current investments50/53€1.4m€1.6m€1.6m€3.5m€4.2m▲ 20.4%
Cash at bank and in hand54/58€5.9m€3.3m€1.2m€741,123€306,004▼ 58.7%
Deferred charges and accrued income490/1-€5,906€63,499€10,387€10,453▲ 0.6%
Equity and liabilities
Total equity and liabilities10/49€9.9m€9.1m€9.3m€11.3m€12.2m▲ 7.8%
Equity10/15-€324,913-€1.2m-€967,265-€452,625-€1.0m▼ 123%
Contributions10/11€1.5m€1.5m€1.5m€1.5m€1.5m=
Capital10-€1.5m€1.5m€1.5m€1.5m=
Issued capital100-€1.5m€1.5m€1.5m€1.5m=
Reserves13€6,319€6,319€6,319€6,319€6,319=
Non-distributable reserves130/1-€6,319€6,319€6,319€6,319=
Legal reserve130-€602€602€602€602=
Other1319-€5,717€5,717€5,717€5,717=
Profit (loss) carried forward14-€1.8m-€2.7m-€2.5m-€2.0m-€2.5m▼ 28.5%
Amounts payable17/49€10.3m€10.3m€10.3m€11.7m€13.2m▲ 12.2%
Amounts payable after more than one year17€10.2m€10.2m€10.2m€11.6m€13.0m▲ 11.5%
Other amounts payable178/9-€10.2m€10.2m€11.6m€13.0m▲ 11.5%
Amounts payable within one year42/48€15,114€15,336€54,922€101,632€196,729▲ 93.6%
Trade debts44€3,824€4,046€4,674€88,679€176,682▲ 99.2%
Suppliers440/4-€4,046€4,674€88,679€176,682▲ 99.2%
Taxes, remuneration and social security45-€11,290€11,290€12,953€20,047▲ 54.8%
Taxes450/3-€11,290€11,290€12,953€20,047▲ 54.8%
Other amounts payable47/48--€38,958---
Accrued charges and deferred income492/3-€20,497€20,506€1,247€1,346▲ 8.0%
Line20212022202320242025Change
Profit (loss) for the period9904€130,455-€827,727€185,376€514,640-€558,499▼ 209%
+ Depreciation and write-downs630---€747€1,120▲ 50.0%
Operating cash flow (approximation)€130,455-€827,727€185,376€515,387-€557,379▼ 208%
Investment in fixed assets (approximation)--€103,465-€1.9m-€684,189-€670,510▲ 2.0%
Change in cash--€2.6m-€2.1m-€486,499-€435,120▲ 10.6%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-01-2027
2026
31-08
State Gazette act Resignations & appointments
Name change · Power of attorney5 facts ▸
  • General meeting, assemblée générale extraordinaire
  • Name change, ORSA NEXT
  • Power of attorney
  • Power of attorney, Chantal BURON
  • Other statement, frais, dépenses, rémunérations et charges, 1172.09
2025
29-10
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2024
17-10
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2023
30-10
NBB filing Annual accounts filed
fiscal year 2023 · full schema
30-06
Financial Back to profitnet €185,376
Net result €185,376 after one loss-making year.
2022
07-11
NBB filing Annual accounts filed
fiscal year 2022 · full schema
30-06
Financial Weakest financial yearnet -€827,727
Net result drops to -€827,727, the lowest in the series; recovery starts the following year.
2021
25-10
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2020
27-10
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2019
21-10
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2018
06-12
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2017
24-10
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2016
09-11
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 20 acts read
About the unread acts

Of the 20 Belgian State Gazette acts we know for this company, 1 has been read. The other 19 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
20 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Marche-en-Famenne · 1 establishment unit since 2006
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.

Marche,Rue de la Plaine 116900 Marche-en-Famenne
1 establishment unit
LA FINANCIERE DU BOIS
Marche,Rue de la Plaine 11, 6900 Marche-en-FamenneNACE 65234
since 20062.155.819.555

Articles of association

Structure & network

Owners and holdings

2 owners · 13 holdings

Owners 2

Stated earlier (1)

An older source named these owners; newer accounts no longer list them.

Holdings 13

Show 3 more holdings

According to the annual accounts to 30-06-2025 of INVESTSUD BOIS 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.

Recognitions · licences · registrations

Legal Entity Identifier

875500XSQZKEQOTFSR82
live in the LEI register

Similar companies · same sector and region

This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,256 companies in sector 94110 we hold annual accounts for 584. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded14-06-2006
Fiscal year end30-06
Legal name FR ORSA NEXT
Activities, NACEBEL 2025
94110Activities of business and employers' organisations
Contact
E-mail info@capitaletcroissance.beMarche-en-Famenne
Phone 084/320.520Marche-en-Famenne
E-invoicing
Reachable via Peppol
Peppol ID 0208:0882099588
Registered 12-05-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.