Ortagh
ActiveSummary
Ortagh has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57k and a net result of €15k. Equity is growing by ~40.6% per year across the filed fiscal years. Its solvency ranks better than 83% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability93▼-7
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 3.94 against 6.69 in 2024; short-term debt: 23.7% and cash: 15.4% of total assets), and 23.8% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
76.2%
Return on assets
19.7%
Age of the figures
15 mo
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 26-01-2026, 5 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
5 d early
2024
35 d early
2023
7 d early
2022
1 d early
2021
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€57k▲ 34.8%
2024 · €42k
2021: €10klowest in 5 years
2022: €21k▲ +122% vs 2021
2023: €29k▲ +36.0% vs 2022
2024: €42k▲ +45.6% vs 2023
2025: €57k▲ +34.8% vs 2024highest in 5 years
2021 → 2025
Total assets
€75k▲ 52.0%
2024 · €49k
2021: €13klowest in 5 years
2022: €25k▲ +101% vs 2021
2023: €58k▲ +131% vs 2022
2024: €49k▼ -15.8% vs 2023
2025: €75k▲ +52.0% vs 2024highest in 5 years
2021 → 2025
Net result
€15k▲ 11.1%
2024 · €13k
2021: €-20klowest in 5 years
2022: €12k▲ +157% vs 2021
2023: €8k▼ -34.4% vs 2022
2024: €13k▲ +72.3% vs 2023
2025: €15k▲ +11.1% vs 2024highest in 5 years
2021 → 2025
Working capital
€52k▲ 31.4%
2024 · €39k
2021: €8klowest in 5 years
2022: €20k▲ +168% vs 2021
2023: €28k▲ +41.2% vs 2022
2024: €39k▲ +38.7% vs 2023
2025: €52k▲ +31.4% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€10k-€21k▲ 122%€29k▲ 36.0%€42k▲ 45.6%€57k▲ 34.8%
2021: €10klowest in 5 years
2022: €21k▲ +122% vs 2021
2023: €29k▲ +36.0% vs 2022
2024: €42k▲ +45.6% vs 2023
2025: €57k▲ +34.8% vs 2024highest in 5 years
Operating result€-20k-€12k€8k▼ 29.6%€18k▲ 115%€20k▲ 12.3%
2021: €-20klowest in 5 years
2022: €12k▲ +159% vs 2021
2023: €8k▼ -29.6% vs 2022
2024: €18k▲ +115% vs 2023
2025: €20k▲ +12.3% vs 2024highest in 5 years
Net result€-20k-€12k€8k▼ 34.4%€13k▲ 72.3%€15k▲ 11.1%
2021: €-20klowest in 5 years
2022: €12k▲ +157% vs 2021
2023: €8k▼ -34.4% vs 2022
2024: €13k▲ +72.3% vs 2023
2025: €15k▲ +11.1% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 12% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75k
Fixed assets
€5k ▲ 89.5%
Current assets
€70k ▲ 49.8%
Equity and liabilities €75k
Equity
€57k ▲ 34.8%
Debt
€18k ▲ 156%
Debt's share of the balance-sheet total rises from 14.1% to 23.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€21k▲
2024 · €18k
Cash flow
€16k▲
2024 · €14k
Current ratio
3.94▼
2024 · 6.69
Debt to equity
0.31▲
2024 · 0.16
ROE
25.8%▼
2024 · 31.3%
ROA
19.7%▼
2024 · 26.9%
Interest coverage
217.69▲
2024 · 94.68
Debt ≤ 1 year
€18k▲
2024 · €7k
Income taxes
€5k▲
2024 · €4k
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 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€49k€75k▲
Fixed assets21/28€3k€5k▲
Tangible fixed assets22/27€3k€5k▲
Plant, machinery and equipment23€3k€5k▲
Current assets29/58€46k€70k▲
Amounts receivable after more than one year29€7k€7k=
Other amounts receivable291€7k€7k=
Amounts receivable within one year40/41€26k€50k▲
Trade receivables40€23k€50k▲
Other amounts receivable41€3k-
Cash at bank and in hand54/58€13k€11k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€49k€75k▲
Equity10/15€42k€57k▲
Contributions10/11€30k€30k=
Profit (loss) carried forward14€12k€27k▲
Amounts payable17/49€7k€18k▲
Amounts payable within one year42/48€7k€18k▲
Trade debts44€1k€10k▲
Suppliers440/4€1k€10k▲
Taxes, remuneration and social security45€5k€8k▲
Taxes450/3€5k€8k▲
Other amounts payable47/48€311-
Accrued charges and deferred income492/3-€121
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€465€1k▲
Other operating charges640/8€2k€1k▼
Gross operating margin9900€20k€23k▲
Operating profit (loss)9901€18k€20k▲
Financial charges65/66B€194€99▼
Recurring financial charges65€194€99▼
Profit (loss) for the period before taxes9903€18k€20k▲
Income taxes67/77€4k€5k▲
Profit (loss) for the period9904€13k€15k▲
Profit (loss) for the period to be appropriated9905€13k€15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€12k€27k▲
Profit (loss) brought forward from the previous period14P€-1k€12k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €546 | €733 | €642 | €465 | €1k | ▲ 206% |
| Other operating charges640/8 | - | €101 | €339 | €2k | €1k | ▼ 10.6% |
| Gross operating margin9900 | €-19k | €13k | €9k | €20k | €23k | ▲ 15.0% |
| Operating profit (loss)9901 | €-20k | €12k | €8k | €18k | €20k | ▲ 12.3% |
| Financial charges65/66B | - | €119 | €88 | €194 | €99 | ▼ 49.0% |
| Recurring financial charges65 | €272 | €119 | €88 | €194 | €99 | ▼ 49.0% |
| Profit (loss) for the period before taxes9903 | €-20k | €12k | €8k | €18k | €20k | ▲ 12.9% |
| Income taxes67/77 | - | - | €557 | €4k | €5k | ▲ 18.2% |
| Profit (loss) for the period9904 | €-20k | €12k | €8k | €13k | €15k | ▲ 11.1% |
| Profit (loss) for the period to be appropriated9905 | €-20k | €12k | €8k | €13k | €15k | ▲ 11.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13k | €25k | €58k | €49k | €75k | ▲ 52.0% |
| Fixed assets21/28 | €2k | €1k | €487 | €3k | €5k | ▲ 89.5% |
| Tangible fixed assets22/27 | €610 | €1k | €487 | €3k | €5k | ▲ 89.5% |
| Plant, machinery and equipment23 | - | €1k | €487 | €3k | €5k | ▲ 89.5% |
| Financial fixed assets28 | €1k | - | - | - | - | - |
| Current assets29/58 | €10k | €24k | €58k | €46k | €70k | ▲ 49.8% |
| Amounts receivable after more than one year29 | - | - | €10k | €7k | €7k | = |
| Other amounts receivable291 | - | - | €10k | €7k | €7k | = |
| Amounts receivable within one year40/41 | €7k | €22k | €39k | €26k | €50k | ▲ 92.1% |
| Trade receivables40 | - | €22k | €35k | €23k | €50k | ▲ 119% |
| Other amounts receivable41 | - | - | €4k | €3k | - | - |
| Cash at bank and in hand54/58 | €3k | €3k | €8k | €13k | €11k | ▼ 8.2% |
| Deferred charges and accrued income490/1 | - | - | €557 | €2k | €2k | ▲ 19.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13k | €25k | €58k | €49k | €75k | ▲ 52.0% |
| Equity10/15 | €10k | €21k | €29k | €42k | €57k | ▲ 34.8% |
| Contributions10/11 | - | €30k | €30k | €30k | €30k | = |
| Profit (loss) carried forward14 | €-20k | €-9k | €-1k | €12k | €27k | ▲ 121% |
| Amounts payable17/49 | €3k | €4k | €29k | €7k | €18k | ▲ 156% |
| Amounts payable within one year42/48 | €3k | €4k | €29k | €7k | €18k | ▲ 154% |
| Trade debts44 | €948 | €2k | €21k | €1k | €10k | ▲ 566% |
| Suppliers440/4 | - | €2k | €21k | €1k | €10k | ▲ 566% |
| Taxes, remuneration and social security45 | - | €2k | €557 | €5k | €8k | ▲ 49.9% |
| Taxes450/3 | - | €2k | €557 | €5k | €8k | ▲ 49.9% |
| Other amounts payable47/48 | - | €57 | €8k | €311 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €121 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-20k | €12k | €8k | €13k | €15k | ▲ 11.1% |
| + Depreciation and write-downs630 | €546 | €733 | €642 | €465 | €1k | ▲ 206% |
| Operating cash flow (approximation) | €-20k | €12k | €8k | €14k | €16k | ▲ 17.8% |
| Investment in fixed assets (approximation) | - | €217 | €0 | €-3k | €-4k | ▼ 44.1% |
| Change in cash | - | €-792 | €6k | €4k | €-1k | ▼ 123% |
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
26-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2021net €15k ▲11.1%
Operating result €20k, net result €15k, both a record.
2024
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Liquidity triplescurrent ratio 6.69
Current ratio from 1.97 to 6.69; short-term debt falls from €29k to €7k.
24-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro 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, Edegem · 1 establishment unit since 2019
Ground area
268 m²
Building footprint
99 m²
Volume, LiDAR
791 m³
Parcel 11472B0113/00W002, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Ortagh
since 20192.293.203.130
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11472B0113/00W002 | Flanders | 268 m² | 1 · 99 m² | 10.1 m · 3 fl. |
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.
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,372 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-09-2019
Fiscal year end30-06
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.