Equity
€18.0m ▲ 35.4%
ZORGI has made a profit in every financial year since 2006.
ZORGI
Lifetime
17 annual accounts with figures on one time axis, 44 filings since 1981peak €64.3m (2024)
€62.4m▼ 2.9%
peak €7.4m (2019)
€4.7m▲ 1.4%
peak €21.2m (2022)
€18.0m▲ 35.4%
€21.1m▲ 17.7%
peak 324.4 FTE (2025)
324.4 FTE▲ 2.1%
Board36 names since 2017all names
10 directorsMerisco and 9 others
Owners8 names in the annual accountsall names
100%NETWORK RESEARCH BELGIUM and 1 other
Documentsfilings and deeds
13-05-202679 days before the deadline
2025financial year
1 statutory auditor appointed 13-082 directors appointed, 1 resignation 28-02Equity from €13.3m to €18.0mDebts from €17.9m to €21.1m
Key points
from the 2025 annual accountsStaff
335 employees on 31-12-2025
In 2025, 42 people joined and 39 left.
Filings
44 annual accounts since 1981
The 2024 accounts came 129 days late. The other nine of the last ten were filed on time.
At the same address
61 companies
Board
3 joined · 5 left
Board changed. Latest change 01-06-2026 · 11 in office.
Position in the sector
€4.7m
Higher net result than 95% of companies in retail trade. Sector median €39,880 · 5,067 companies.
Checked score
94
Excellent
Financially stronger than 71% of large companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 84 companies (NACE 47, large).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025highest value
07-2025: 0.2%● unchanged vs 06-2025highest value
08-2025: 0.2%● unchanged vs 07-2025highest value
09-2025: 0.2%● unchanged vs 08-2025highest value
10-2025: 0.2%● unchanged vs 09-2025highest value
11-2025: 0.2%● unchanged vs 10-2025highest value
12-2025: 0.2%● unchanged vs 11-2025highest value
01-2026: 0.2%● unchanged vs 12-2025highest value
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.1%▼ -0.1 percentage points vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Retail trade (NACE 47)
1 of the last 3 accounts late
lowers risk
Size: turnover €62.4m, 324.4 FTE, total assets €40.3m
Founded in 1979
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 47, large). It does better than 73% of them on solvency, 67% on liquidity, 91% on profitability and 54% 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 very low class on 30-06-2025, 0.1% 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, 321 companies had the same profile as ZORGI has now. Each dot is one company, two years later.
97.5%
were still trading
2.5%
stopped another way
0.0%
went bankrupt
That fits the bankruptcy probability of ZORGI itself: 0.1% 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 321 companies, not a prediction for ZORGI. 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 €1,650,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.05 (1.91 in 2024), above the usual 1.5. Short-term debt is 46.1% and cash 7.3% of total assets. However, 55.3% 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
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-05-2026, 79 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
79 days early
2024
129 days late
2023
79 days early
2022
75 days early
2021
75 days early
2020
86 days early
2019
43 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 44 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% 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 17 May (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
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
FC
Fleming Corporation
Director, Geert Versnick
AV
A. Vanden Camp
Director
- NETWORK RESEARCH BELGIUM 100%score 96equity €206.2m (2025) · annual accounts 2025
Recent changes
1 director appointed
MMIT-Management BV (ctro) · Permanent representatives: Milena Mitrovic and Eric Christiaens · Board meeting of 07-05-2026 · Gazette deed
Resignation: Christian Genicq (coo en lid van het uitvoerend comité)
Permanent representative: Eric Christiaens · Board meeting of 29-04-2026 · Gazette deed
2 directors appointed, 2 resignations
Resignations: FVH M BV and Philippe Kohl · Appointments: BOLD MOVES SRL and QUADRIVIUM MANAGEMENT SRL · Permanent representatives: Florence Vanderthommen, Arnaud Spirlet, Philippe Kohl and André Vanden Camp · Board meeting of 31-01-2026 · Gazette deed
Resignations: Guido Beazar (director) and Bernard Ceriez (director)
Board meeting of 03-12-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ZORGI Brussels | €62.4m | 9.0% | 44.7% | 324.4 |
| ORACLE BELGIUM Vilvoorde | €58.1m | 7.3% | 25.1% | 175.2 |
| AD ULTIMA Kortrijk | €40.2m | 9.7% | 28.4% | 114.8 |
| Telenet Retail Mechelen | €77.5m | 14.8% | 8.8% | 299 |
| EVS Seraing | €188.1m | 22.8% | 72.2% | 442.7 |
| Media Markt Wilrijk-Boortmeerbeek Antwerp | €60.5m | -0.6% | -3.7% | 101.1 |
| COPACO BELGIUM Aalst | €216.6m | 1.5% | 58.6% | 60.3 |
Grey: the largest companies of the sector (retail trade (NACE 47)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as ZORGI: retail sale of information and communication equipment (NACE 47400). They are comparable in size and age: total assets between €19m and €268m, founded between 1990 and 2009.
Official details
Source: KBO- Status
- Active since 06-11-1979Normal situation
- Registered office
- 62 active companies are registered at this address9 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Retail sale of information and communication equipmentNACE 47400and 2 others
- Establishment units
- 2.016.909.0231000 Brussels, since 18-10-1999
- 2.219.538.2613001 Leuven, since 01-04-2013and 4 others
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €40.3m▲ 27.8%
- Employeeson 31-12-2025
- 335▲ 0.6%
- Filing
- Filed on 13-05-2026, 79 days before the end of the filing period
Companies linked to ZORGI
Parent and group
Insights on ZORGI
ZORGI has existed since 1979. Turnover grew from €4.4m in 2006 to €62.4m in 2025 and staff from 16.5 to 324.4 full-time equivalents.
NETWORK RESEARCH BELGIUM holds all the shares. In July 2024, three directors stepped down.
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 ZORGI
- What is the company number of ZORGI?
- The company number of ZORGI is 0419.920.423. The VAT number is the same number with BE in front: BE 0419.920.423.
- Where is ZORGI based?
- The registered office is at Bischoffsheimlaan 15, 1000 Brussels.Company details
- What does ZORGI do?
- According to the KBO register, the main activity is retail sale of information and communication equipment (NACE 47400).
- What is the legal form of ZORGI?
- ZORGI is a public limited company (NV).
- When was ZORGI founded?
- ZORGI was founded on 06-11-1979.
- Is ZORGI still active?
- Yes, ZORGI is an active enterprise in the KBO register.
- How many employees does ZORGI have?
- ZORGI had an average of 324.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of ZORGI?
- The turnover of ZORGI was €62.4m in financial year 2025, according to the filed annual accounts.
- Is ZORGI profitable?
- In financial year 2025, ZORGI made a profit of €4.7m.
- Where can I find the annual accounts of ZORGI?
- ZORGI filed 44 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ZORGI due?
- ZORGI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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