INVESTSUD IMMO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.09M and a net result of €-15k. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 2377 sector peers (fiscal year 2025). The company has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
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 08-04-2026, 114 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
114 d early
2024
122 d early
2023
112 d early
2022
96 d early
2021
125 d early
2020
123 d early
2019
107 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€3.09M▼ 0.5%
2024 · €3.10M
2018: €3.64M
2019: €3.56M
2020: €3.47M
2021: €3.40M
2022: €3.29M
2023: €3.18M
2024: €3.10M
2018 → 2025
Net result
€-15k▲ 78.6%
2024 · €-72k
2018: €-65k
2019: €-76k
2020: €-88k
2021: €-76k
2022: €-107k
2023: €-115k
2024: €-72k
2018 → 2025
Total assets
€3.09M▼ 1.1%
2024 · €3.12M
2018: €3.66M
2019: €3.57M
2020: €3.49M
2021: €3.41M
2022: €3.30M
2023: €3.19M
2024: €3.12M
2018 → 2025
Solvency
100.0%▲ 0.6pp
2024 · 99.4%
2018: 99.5%
2019: 99.7%
2020: 99.6%
2021: 99.6%
2022: 99.6%
2023: 99.6%
2024: 99.4%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14k-
Equity€3.40M-€3.29M▼ 3.1%€3.18M▼ 3.5%€3.10M▼ 2.3%€3.09M▼ 0.5%
Operating result€-125k-€-160k▼ 28.1%€-175k▼ 9.4%€-180k▼ 3.0%€-82k▲ 54.7%
Net result€-76k-€-107k▼ 40.4%€-115k▼ 7.1%€-72k▲ 36.8%€-15k▲ 78.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €82k in 2025 against €180k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.09M
Fixed assets
€644k▲ 175%
Current assets
€2.44M▼ 15.3%
Equity and liabilities €3.09M
Equity
€3.09M▼ 0.5%
Debt
€826▼ 95.6%
The debt ratio falls from 0.6% to 0.0%. Equity and debt are lower.
Key figures and ratios
Solvency
100.0%▲
2024 · 99.4%
ROE
-0.5%▲
2024 · -2.3%
ROA
-0.5%▲
2024 · -2.3%
Debt
€826▼
2024 · €19k
Debt ≤ 1 year
€730▼
2024 · €4k
A ratio outside any meaningful range has been withheld (balance sheet total €3.09M, equity €3.09M).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.12M€3.09M▼
Fixed assets21/28€234k€644k▲
Financial fixed assets28€234k€644k▲
Current assets29/58€2.89M€2.44M▼
Amounts receivable after more than one year29€456k€476k▲
Other amounts receivable291€456k€476k▲
Amounts receivable within one year40/41€176k€137k▼
Trade receivables40€69k€67k▼
Other amounts receivable41€107k€70k▼
Current investments50/53€2.10M€1.78M▼
Cash at bank and in hand54/58€148k€50k▼
Deferred charges and accrued income490/1€8k€1k▼
Equity and liabilities
Total equity and liabilities10/49€3.12M€3.09M▼
Equity10/15€3.10M€3.09M▼
Contributions10/11€3.72M€3.72M=
Capital10€3.72M€3.72M=
Issued capital100€3.72M€3.72M=
Reserves13€104k€104k=
Non-distributable reserves130/1€104k€104k=
Legal reserve130€104k€104k=
Profit (loss) carried forward14€-719k€-735k▼
Amounts payable17/49€19k€826▼
Amounts payable within one year42/48€4k€730▼
Trade debts44€4k€730▼
Suppliers440/4€4k€730▼
Accrued charges and deferred income492/3€15k€97▼
Income statement
Code20242025
Goods, raw materials, services and sundry goods60/61€179k€79k▼
Other operating charges640/8€13k€2k▼
Gross operating margin9900€-167k€-79k▲
Operating profit (loss)9901€-180k€-82k▲
Financial income75/76B€109k€67k▼
Recurring financial income75€109k€67k▼
Financial charges65/66B€1k€975▼
Recurring financial charges65€1k€975▼
Profit (loss) for the period before taxes9903€-72k€-15k▲
Profit (loss) for the period9904€-72k€-15k▲
Profit (loss) for the period to be appropriated9905€-72k€-15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-719k€-735k▼
Profit (loss) brought forward from the previous period14P€-647k€-719k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
State Gazette act
Resignations & appointmentsGeneral meeting · Name change · Power of attorney4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Name change · Power of attorney4 facts ▸
- General meeting, 2026-06-24
- Name change, ORSA IMMO
- Power of attorney, organe d'administration
- Fees, 1172.09
29-07
State Gazette act
Resignations & appointmentsDirector resignation1 fact ▸
State Gazette act
Resignations & appointments
Director resignation1 fact ▸
- Director resignation, Magotteaux International SA (administrateur)
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 5current ratio 3351.13
Current ratio from 691.81 to 3351.13; short-term debt falls from €4k to €730.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
10-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-115k
Net result drops to €-115k, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
15-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
22-10-2025
Resigned as Director
Location & real-estate footprint
Registered office, Marche-en-Famenne · 1 establishment unit since 1988
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Marche,Rue de la Plaine 116900 Marche-en-Famenne1 establishment unit
Marche,Rue de la Plaine 11, 6900 Marche-en-Famenne
since 19882.102.537.554
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Of 186 companies in sector 64910 we hold annual accounts for 133. 89 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-10-1985
Fiscal year end31-12
Legal name FR
ORSA IMMO
Activities, NACEBEL
64910Financial service activities, except insurance and pension funding
65210
68201Renting and operating of own or leased residential real estate, excluding social housing
70201
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filings
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
4 entriesWebsite:www.capitaletcroissance.be
E-mail:info@capitaletcroissance.be
Phone:084/320.520
Fax:084/315.723