Equity
€15,134 from €1.8m in 2012
Equity fell by 99% in 13 years.
Oursa
Lifetime
18 annual accounts with figures on one time axis, 19 filings since 2007peak €371,273 (2017)
€20,381▼ 81.6%
lowest -€722,647 (2021)
-€44,580▲ €85,048
peak €1.8m (2012)
€15,134▼ 74.7%
€1.3m▼ 2.2%
Board3 names since 2018
3 directorsAriane Cruysmans and 2 others
Documentsfilings and deeds
13-10-202674 days late
2025abbreviated format
Gross margin from €110,655 to €20,381Loss of €44,580Amendment of the articles 18-09Registered office moved from Overijse to Waterloo 02-09Equity from €59,715 to €15,134Cash from €27,705 to €2,075
Key points
from the 2025 annual accountsLosses
-€1.8m in eight years
Every financial year from 2018 to 2025 closed with a loss. 2021 was the heaviest.
Turnover
≈ €71,000 estimated
The accounts state no turnover.
Debts
€1.3m 99% of the balance sheet
Suppliers 1%Taxes and wages 0%Other 99%
Filings
19 annual accounts 74 days
Latest accounts filed late: after the legal deadline.
Position in the sector
-€44,580
Lower net result than 82% of companies in real estate. Sector median €9,997 · 11,290 companies.
Checked score
53
Fair
Financially stronger than 21% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%lowest value
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.6%▲ +0.3 percentage points vs 07-2025
09-2025: 0.3%▼ -0.3 percentage points vs 08-2025
10-2025: 0.8%▲ +0.5 percentage points vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.9%▲ +0.1 percentage points vs 06-2026
08-2026: 1.3%▲ +0.4 percentage points vs 07-2026
09-2026: 1.6%▲ +0.3 percentage points vs 08-2026
10-2026: 1.7%▲ +0.1 percentage points vs 09-2026highest value
11-2026: 1.7%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.01, cash €2,075, halved
Last filed accounts filed 74 days late; 1 of the last 3 accounts late
1 change of registered office in 24 months
lowers risk
Size: total assets €1.3m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 21% of them on solvency, 2% on liquidity, 51% on profitability and 8% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 912 companies had the same profile as Oursa has now. Each dot stands for 3 companies, two years later.
95.3%
were still trading
2.1%
stopped another way
2.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Oursa itself: 1.7% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 912 companies, not a prediction for Oursa. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.01 (0.02 in 2024), below 1. Short-term debt is 98.9% and cash 0.2% of total assets. 98.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€44,580
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 11299 sector peers (2025).
NBB · sector comparisonPosition among 11299 sector peers
Solvency
better than 19%
← weakest
strongest →
raises risk · 2025 accounts filed 74 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-10-2026, 74 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
74 days late
2024
6 days late
2023
on the day
2022
28 days late
2021
22 days late
2020
16 days late
2019
39 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 15 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0887422217
Amendment of the articles
General meeting of 01-08-2025 · Gazette deed
Registered office moved from Overijse to Waterloo
New registered office: avenue des Petits Champs 121, 1410 Waterloo · Previous registered office: Brusselsesteenweg 539, 3090 Overijse · General meeting of 01-08-2025 · Gazette deed
3 directors reappointed
Florent Godin, Ariane Cruysmans and Valéry Medvedev · General meeting of 01-06-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Oursa Waterloo | €1.3m | €20,381 | 1.1% | - |
| BUB INDUSTRIE Buggenhout | €1.5m | €21,634 | 49.3% | - |
| JULIMAXE Ellezelles | €1.6m | €19,637 | 54.6% | - |
| ARBOLUC Erpe-Mere | €1.2m | €19,752 | 86.4% | - |
| RUCALO Wingene | €1.4m | €25,554 | 10.5% | - |
| DWD INVEST Ghent | €1.4m | €27,242 | 17.4% | 0.9 |
| D & T Asse | €1.4m | €18,925 | 71.2% | - |
These companies have the same main activity as Oursa: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €1.2m and €1.6m, founded between 2002 and 2009.
Official details
Source: KBO- Status
- Active since 01-02-2007Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 1 other
- Establishment unit
- 2.169.959.086since 14-04-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 25-11-2025
Insights on Oursa
Oursa files the abbreviated format. That format states no turnover. The gross margin fell from €56,731 in 2008 to €20,381 in 2025.
The balance sheet grew most from 2012 to 2014 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Oursa
- What is the company number of Oursa?
- The company number of Oursa is 0887.422.217. The VAT number is the same number with BE in front: BE 0887.422.217.
- Where is Oursa based?
- The registered office is at Avenue des Petits Champs 121, 1410 Waterloo.Company details
- What does Oursa do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of Oursa?
- Oursa is a public limited company (NV).
- When was Oursa founded?
- Oursa was founded on 01-02-2007.
- Is Oursa still active?
- Yes, Oursa is an active enterprise in the KBO register.
- What is the turnover of Oursa?
- The turnover in financial year 2025 is ≈ €71,000. This figure is estimated from the gross margin of €20,381 and 31 comparable companies (NACE 68203). It probably lies between €27,000 and €160,000. It is a rough estimate.Financials
- Is Oursa profitable?
- In financial year 2025, Oursa made a loss of €44,580.
- Where can I find the annual accounts of Oursa?
- Oursa filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Oursa due?
- Oursa must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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