ORTELEC
ActiveSummary
ORTELEC has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.7m and a net result of €423,999. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 50% of 8765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▼-46
Solvency78▼-22
Growth78=
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 tight (current ratio 1.09 against 1.54 in 2024; short-term debt: 46.6% and cash: 3.2% of total assets), and 46.8% 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
53.2%
Return on assets
2.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 17-04-2026, 13 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
13 d early
2024
16 d early
2023
14 d early
2022
27 d early
2021
30 d early
2020
16 d early
2019
31 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 21 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 14 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by total assets in Kortemark, Professional and technical services sector#3 company by equity in Kortemark, Professional and technical services sector#5 oldest company in Kortemark, Professional and technical services sector
Equity
€8.7m▲ 0.3%
2024 · €8.6m
Total assets
€16.3m▲ 66.8%
2024 · €9.8m
Net result
€423,999▼ 63.3%
2024 · €1.2m
Working capital
€665,444▲ 11.5%
2024 · €596,880
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Operating result€870,946▲ 29.1%€988,982▲ 13.6%€1.1m▲ 13.0%€952,002▼ 14.8%€645,265▼ 32.2%
Net result€1.7mabove the sector's middle half▲ 312%€1.2mabove the sector's middle half▼ 31.6%€1.5mabove the sector's middle half▲ 28.6%€1.2mabove the sector's middle half▼ 22.5%€423,999above the sector's middle half▼ 63.3%
Equity€7.3mabove the sector's middle half▲ 18.0%€7.3mabove the sector's middle half=€8.4mabove the sector's middle half▲ 16.0%€8.6mabove the sector's middle half▲ 2.4%€8.7mabove the sector's middle half▲ 0.3%
Total assets€8.7mabove the sector's middle half▲ 1.1%€8.8mabove the sector's middle half▲ 1.0%€9.7mabove the sector's middle half▲ 10.2%€9.8mabove the sector's middle half▲ 1.0%€16.3mabove the sector's middle half▲ 66.8%
Debt€1.4m▼ 41.7%€1.5m▲ 5.9%€1.2m▼ 17.8%€1.1m▼ 8.5%€7.6m▲ 577%
Working capital€118,753within the sector's middle half€103,127within the sector's middle half▼ 13.2%€1.0mabove the sector's middle half▲ 881%€596,880above the sector's middle half▼ 41.0%€665,444above the sector's middle half▲ 11.5%
Solvency83.7%above the sector's middle half▲ 12.0pp82.9%above the sector's middle half▼ 0.8pp87.3%above the sector's middle half▲ 4.3pp88.5%above the sector's middle half▲ 1.2pp53.2%within the sector's middle half▼ 35.3pp
Current ratio1.24within the sector's middle half▲ 0.961.17within the sector's middle half▼ 0.072.83within the sector's middle half▲ 1.661.54within the sector's middle half▼ 1.281.09within the sector's middle half▼ 0.46
Return on assets (ROA)19.5%above the sector's middle half▲ 14.7pp13.2%within the sector's middle half▼ 6.3pp15.4%above the sector's middle half▲ 2.2pp11.8%within the sector's middle half▼ 3.6pp2.6%within the sector's middle half▼ 9.2pp
Staff (FTE)12.6above the sector's middle half▼ 11.3%13.6above the sector's middle half▲ 7.9%11.5above the sector's middle half▼ 15.4%11.1above the sector's middle half▼ 3.5%11above the sector's middle half▼ 0.9%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 32% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.3m
Fixed assets
€8.0m ▼ 0.5%
Current assets
€8.3m ▲ 388%
Equity and liabilities €16.3m
Equity
€8.7m ▲ 0.3%
Debt
€7.6m ▲ 577%
Debt's share of the balance-sheet total rises from 11.5% to 46.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€694,435▼
2024 · €1.0m
Cash flow
€473,170▼
2024 · €1.2m
Debt to equity
0.88▲
2024 · 0.13
ROE
4.9%▼
2024 · 13.4%
Interest coverage
1.91▼
2024 · 22.50
Debt ≤ 1 year
€7.6m▲
2024 · €1.1m
Income taxes
€149,487▼
2024 · €245,129
Staff costs
€637,295▼
2024 · €690,613
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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 14,732 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €714,369 | €715,131 | €690,613 | €637,295 | ▼ 7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,334 | €36,429 | €30,119 | €48,002 | €49,171 | ▲ 2.4% |
| Other operating charges640/8 | - | €40,691 | €40,556 | €48,866 | €41,984 | ▼ 14.1% |
| Non-recurring operating charges66A | - | €963 | €1,130 | - | - | - |
| Gross operating margin9900 | €1.7m | €1.8m | €1.9m | €1.7m | €1.4m | ▼ 21.0% |
| Operating profit (loss)9901 | €870,946 | €988,982 | €1.1m | €952,002 | €645,265 | ▼ 32.2% |
| Financial income75/76B | - | €453,610 | €690,342 | €492,355 | €291,411 | ▼ 40.8% |
| Recurring financial income75 | €1.1m | €453,610 | €690,342 | €492,355 | €291,411 | ▼ 40.8% |
| Financial charges65/66B | - | €37,816 | €43,224 | €44,449 | €363,190 | ▲ 717% |
| Recurring financial charges65 | €52,705 | €37,816 | €43,224 | €44,449 | €363,190 | ▲ 717% |
| Profit (loss) for the period before taxes9903 | €1.9m | €1.4m | €1.8m | €1.4m | €573,486 | ▼ 59.0% |
| Income taxes67/77 | €212,438 | €246,719 | €274,484 | €245,129 | €149,487 | ▼ 39.0% |
| Profit (loss) for the period9904 | €1.7m | €1.2m | €1.5m | €1.2m | €423,999 | ▼ 63.3% |
| Profit (loss) for the period to be appropriated9905 | €1.7m | €1.2m | €1.5m | €1.2m | €423,999 | ▼ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.7m | €8.8m | €9.7m | €9.8m | €16.3m | ▲ 66.8% |
| Fixed assets21/28 | €8.1m | €8.1m | €8.1m | €8.1m | €8.0m | ▼ 0.5% |
| Tangible fixed assets22/27 | €656,707 | €630,021 | €688,362 | €659,281 | €615,288 | ▼ 6.7% |
| Land and buildings22 | - | €559,276 | €556,477 | €553,699 | €550,921 | ▼ 0.5% |
| Furniture and vehicles24 | - | €70,745 | €131,885 | €105,582 | €64,368 | ▼ 39.0% |
| Financial fixed assets28 | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | = |
| Current assets29/58 | €616,275 | €727,542 | €1.6m | €1.7m | €8.3m | ▲ 388% |
| Amounts receivable within one year40/41 | €557,967 | €172,443 | €426,598 | €29,261 | €4.2m | ▲ 14,366% |
| Trade receivables40 | - | €166,122 | €52,430 | €4,013 | €155,340 | ▲ 3,771% |
| Other amounts receivable41 | - | €6,321 | €374,168 | €25,249 | €4.1m | ▲ 16,050% |
| Current investments50/53 | - | - | €975,000 | €1.6m | €3.5m | ▲ 119% |
| Cash at bank and in hand54/58 | €45,393 | €540,751 | €140,546 | €38,991 | €519,671 | ▲ 1,233% |
| Deferred charges and accrued income490/1 | - | €14,347 | €24,247 | €27,648 | €22,538 | ▼ 18.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.7m | €8.8m | €9.7m | €9.8m | €16.3m | ▲ 66.8% |
| Equity10/15 | €7.3m | €7.3m | €8.4m | €8.6m | €8.7m | ▲ 0.3% |
| Contributions10/11 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Capital10 | - | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Issued capital100 | - | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Reserves13 | €4.4m | €4.4m | €5.6m | €5.8m | €5.8m | = |
| Non-distributable reserves130/1 | - | €282,599 | €282,599 | €282,599 | €282,599 | = |
| Legal reserve130 | - | €282,599 | €282,599 | €282,599 | €282,599 | = |
| Distributable reserves133 | - | €4.2m | €5.3m | €5.5m | €5.5m | = |
| Profit (loss) carried forward14 | €20,111 | €20,917 | €35,640 | €40,421 | €64,420 | ▲ 59.4% |
| Amounts payable17/49 | €1.4m | €1.5m | €1.2m | €1.1m | €7.6m | ▲ 577% |
| Amounts payable after more than one year17 | €871,246 | €850,000 | €650,000 | - | - | - |
| Financial debts170/4 | - | €850,000 | €650,000 | - | - | - |
| Amounts payable within one year42/48 | €497,522 | €624,414 | €554,275 | €1.1m | €7.6m | ▲ 592% |
| Current portion of amounts payable after more than one year42 | - | €21,246 | - | - | - | - |
| Trade debts44 | €45,777 | €14,779 | €29,215 | €14,908 | €32,007 | ▲ 115% |
| Suppliers440/4 | - | €14,779 | €29,215 | €14,908 | €32,007 | ▲ 115% |
| Taxes, remuneration and social security45 | - | €137,915 | €149,076 | €128,423 | €146,980 | ▲ 14.4% |
| Taxes450/3 | - | €35,444 | €26,943 | €28,773 | €31,826 | ▲ 10.6% |
| Remuneration and social security454/9 | - | €102,470 | €122,133 | €99,650 | €115,154 | ▲ 15.6% |
| Other amounts payable47/48 | - | €450,475 | €375,984 | €955,689 | €7.4m | ▲ 678% |
| Accrued charges and deferred income492/3 | - | €25,625 | €28,231 | €29,134 | €29,706 | ▲ 2.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.7m | €1.2m | €1.5m | €1.2m | €423,999 | ▼ 63.3% |
| + Depreciation and write-downs630 | €29,334 | €36,429 | €30,119 | €48,002 | €49,171 | ▲ 2.4% |
| Operating cash flow (approximation) | €1.7m | €1.2m | €1.5m | €1.2m | €473,170 | ▼ 60.7% |
| Investment in fixed assets (approximation) | - | -€9,744 | -€88,460 | -€18,920 | -€5,178 | ▲ 72.6% |
| Change in cash | - | €495,358 | -€400,206 | -€101,555 | €480,680 | ▲ 573% |
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
17-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Liquidity doublescurrent ratio 2.83
Current ratio from 1.17 to 2.83; short-term debt falls from €624,414 to €554,275.
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2018net €1.7m ▲312%
Net result €1.7m, the highest in the series.
30-09
Financial
Liquidity quadruplescurrent ratio 1.24
Current ratio from 0.28 to 1.24; short-term debt falls from €2.1m to €497,522.
14-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Equity above €5mEq €5.8m ▲22%
2 profitable years in a row build equity to €5.8m.
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-03
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 6 acts read
About the unread acts
We know of 6 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
6 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, Kortemark · 1 establishment unit since 2002
Ground area
2.6 ha
Building footprint
5,213 m²
Volume, LiDAR
24,229 m³
Parcel 32011C1414/00E002, Flanders · tallest building 9.9 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
ORTELEC
since 20022.054.088.133
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32011C1414/00E002 | Flanders | 2.6 ha | 1 · 5,213 m² | 9.9 m · 1 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.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- Jonahold
- ORTELEC
Highest known parent: Jonahold. The sources do not say who stands above it.
Owners 1
- Jonaholdparent99.99%
Holdings 1
-
89.9%
According to the annual accounts to 30-09-2025 of ORTELEC 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
2022 to 2025 · 7 entries · 33,529 EUR awarded · 33,529 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 8,068 EUR | 8,068 EUR |
| 2024 | 2 | 7,931 EUR | 8,576 EUR |
| 2023 | 2 | 8,345 EUR | 7,700 EUR |
| 2022 | 2 | 9,185 EUR | 9,185 EUR |
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 7,584 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
Founded26-08-1991
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444926132
Registered
07-10-2025
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.