Public limited company · founded 1992 · 33 yrs activeDa Vincilaan 3, 1930 Zaventem, BelgiumKBO/BCE: BE 0448.826.720
Summary
ORTHROS has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.7m and a net result of -€257,862. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 93% of 6537 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
How financially healthy the company is, how likely a bankruptcy is and how much credit is sensible. Start here to know whether you can do business safely.
Score 2024
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. Without a figure, the card says why. A low score is a reason to look closely at payment terms and security.
Four sides of financial health side by side. You see at a glance where the company is strong and where it is vulnerable.
Profitability9▼-57
Solvency100=
Growth52▼-31
Track record100
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that this company goes bankrupt within twelve months. A low chance is reassuring; with a higher one, agree shorter payment terms or an advance.
0.6%Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 4.76; short-term debt: 16.2% of total assets), and 17% of the assets are financed with debt.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 36 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
○
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
History
The company's story in a few sentences, from the company register, the Belgian State Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
ORTHROS was incorporated on 10 December 1992.1Since 2017 the company has been called ORTHROS.2Between 2017 and 2020 the capital was increased 3 times.345The registered office was moved to Zaventem in 2023.6The board currently has 4 members; Pierre LEMAN has served longest, since 2020.7Revenue fell from EUR 2.3 million in 2018 to EUR 981,085 in 2024 and headcount from 16.8 to 3.4 full-time equivalents.8
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Net result€350,735above the sector's middle half-€21,204below the sector's middle half-€21,596below the sector's middle half▼ 1.9%-€120,658below the sector's middle half▼ 459%-€257,862below the sector's middle half▼ 114%
EBIT margin11.3%▲ 55.4pp-39.2%
Equity€6.1mabove the sector's middle half▲ 6.1%€6.1mabove the sector's middle half▼ 0.3%€6.0mabove the sector's middle half▼ 0.4%€5.9mabove the sector's middle half▼ 2.0%€5.7mabove the sector's middle half▼ 4.4%
Total assets€6.2mabove the sector's middle half▲ 6.1%€6.1mabove the sector's middle half▼ 2.0%€6.1mabove the sector's middle half▼ 0.1%€6.0mabove the sector's middle half▼ 0.7%€6.8mabove the sector's middle half▲ 13.2%
Working capital€5.9m▲ 3.7%€5.9m▲ 0.1%€5.9m=€4.8m▼ 18.5%€4.1m▼ 14.0%
Solvency98.1%above the sector's middle half▲ 0.1pp99.8%above the sector's middle half▲ 1.7pp99.5%above the sector's middle half▼ 0.2pp98.2%above the sector's middle half▼ 1.3pp83.0%above the sector's middle half▼ 15.2pp
Staff (FTE)7within the sector's middle half▼ 2.8%3.4within the sector's middle half
abovewithinbelowthe middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €385,016 in 2024 against €279,754 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.8m
23.1%
76.9%
Fixed assets€1.6m ▲ 34.8%
Current assets€5.2m ▲ 8.0%
Equity and liabilities €6.8m
83.0%
17.0%
Equity€5.7m ▼ 4.4%
Debt€1.2m ▲ 966%
Debt's share of the balance-sheet total rises from 1.8% to 17.0%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
-€73,053▼
2023 · €49,268
Cash flow
€54,101▼
2023 · €208,364
Current ratio
4.76
Debt to equity
0.20▲
2023 · 0.02
ROE
-4.6%▼
2023 · -2.0%
ROA
-3.8%▼
2023 · -2.0%
Interest coverage
-19.87▼
2023 · 42.52
Debt ≤ 1 year
€1.1m▲
2023 · €38,744
Staff costs
€40,936
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observation
Peer companies
What happened to companies that once looked just like this one does now. It describes the group, not this company: the figures are counted, not predicted.
Of the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
Micro
20 years or older
solvency 30% or more
a small loss
0.6%went bankrupt
8.6%stopped otherwise
90%still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
The companies in ten equal groups, from lowest to highest expected share.
Group
Expected
Actual
1
0.2%
0.2%
2
0.3%
0.4%
3
0.5%
0.5%
4
0.6%
0.7%
5
0.8%
0.9%
6
1.2%
1.3%
7
1.5%
1.6%
8
1.7%
1.7%
9
2.7%
2.8%
10
5.3%
5.7%
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 12,304 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 accountsAs filed with the NBB · 2024 against 2023 · 62 lines
Balance sheetCode20232024
Assets
Total assets20/58€6.0m€6.8m▲
Fixed assets21/28€1.2m€1.6m▲
Intangible fixed assets21€76,876€9,589▼
Tangible fixed assets22/27€1.1m€1.6m▲
Plant, machinery and equipment23€915,490€1.2m▲
Furniture and vehicles24€146,182€267,880▲
Other tangible fixed assets26€26,358€15,996▼
Assets under construction and advance payments27-€47,440
Financial fixed assets28€1,655€1,655=
Affiliated companies280/1€1,655€1,655=
Participating interests280€1,655€1,655=
Current assets29/58€4.9m€5.2m▲
Amounts receivable within one year40/41€855,469€1.5m▲
Trade receivables40€855,469€1.5m▲
Other amounts receivable41-€9,437
Current investments50/53€3.9m€3.6m▼
Other investments51/53€3.9m€3.6m▼
Deferred charges and accrued income490/1€102,306€102,458▲
Director appointment, Christophe Echivard (director)
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.An act published in both Dutch and French appears here once.
33 of 33 acts read
Directors · office · real estate
Directors and office
Who runs the company and where it is based. It tells you who you are talking to and whether the address checks out.
Directors
Directors
Who runs the company today and since when, grouped the way the CBE groups its function holders. Many recent board changes are a reason to keep a close eye.
Statutory auditor · since 31-12-2021 · perm. rep.: Peter Lenoir
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Location & real estate
Where the company is based and which parcels are linked to its addresses. An address shared by many companies is often a registered-office service.
Other professional, scientific and technical activities
since 19942.060.073.825
MARKET
Antwerpsestraat 43, 2845 NielNon-specialised retail sale with food, beverages or tobacco predominating
since 20262.389.899.658
2 parcels
Flanders2(100%)
Parcel (capakey)
Region
Area
Buildings
Height / fl.
23094D0111/00T002
Flanders
8,395 m²
1 · 1,461 m²
43.3 m · 13 fl.
11030A0448/00G002
Flanders
2,936 m²
1 · 1,127 m²
12.2 m · 1 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
Mandate history
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
L'étude, la création, le développement et l'exploitation, directement ou par l'intermédiaire d'une ou plusieurs sociétés filiales ou sous-filiales, pour compte propre, pour compte…
Full purpose
L'étude, la création, le développement et l'exploitation, directement ou par l'intermédiaire d'une ou plusieurs sociétés filiales ou sous-filiales, pour compte propre, pour compte d'autrui, par ou avec autrui, en gros et en détail, de toutes formules de distribution et de service et notamment celles plus généralement connues sous les appellations diverses, telles que "Grands Magasins", "Supermarchés", "Hypermarchés", "Shopping Center", "Station Service", "Drugstores", "Cafétaria" etcetera. La participation dans d'autres entreprises de distribution ou de service, leur administration et leur gestion. L'établissement, l'acquisition, la prise en location, la gestion et/ou l'exploitation pour compte propre, pour compte d'autrui, par ou avec autrui, de restaurants, hôtels, motels et maisons de logement, débits de boissons, anriexés ou non, service traiteur, et tous autres établissements similaires, services de location de voitures, d'avions et de tous moyens de transport quelconques, services récréatifs, services personnels et entreprise de voyages et de tourisme. L'achat, la fabrication, l'entreposage, la transformatiori, le traitement, le transport, la vente et l'expédition, pour compte propre, pour compte d'autrui, par ou avec autrui, de toutes denrées, produits, articles et marchandises susceptibles d'être vendus dans les exploitations précitées et d'une manière gérérale, la prestation de tous services se rapportant directement ou indirectement à la distribution. La poursuite de toute activité immobilière, généralement quelconque, y compris tous travaux d'entreprise et de construction; la constitution et l'exploitation de tous bureaux d'étude, d'organisation et de conseil en matière immobilière, finaricière et commerciale; toute activité d'intermédiaire commercial et d'assurance, notamment de représeritation et d'agence; l'achat, la vente, la location, la location-financement ou leasing et la mise en valeur de biens mobiliers, y compris équipements et installations. D'une manière générale, la société peut faire seule ou en participation, par elle-même ou par ou avec des tiers, pour elle-même ou pour compte de tiers, toutes opératiors mobilières, immobilières, commerciales, industrielles ou firiancières, gériéralement quelconques, se rapportant directement ou indirectement, en ordre principal ou accessoire, aux objets ci-dessus ou qui sont susceptibles de développer son activité. L'activité de la société peut s'exercer tant à l'étranger qu'en Belgique.
Who owns the company and which companies it holds shares in, as the companies file it in their annual accounts. It shows which group it belongs to and who ultimately stands behind it.
According to the 2024 annual accounts of ORTHROS 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
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
17 connected companies
Depth
Shared directors
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, scroll to zoom.
Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 702 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Company details
The company's official details: legal form, status, activities and founding date. Useful to draw up an invoice or contract correctly.
Identification
Legal formPublic limited company
Founded10-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating