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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ORSA FUND from Marche-en-Famenne, company number BE0424971945, closed financial year 2025 with a result of € 3.4 million after tax. For that financial year ORSA FUND recorded revenue of € 2.6 million and equity of € 17.3 million. Compared with financial year 2024, the result moved from € -489,362 to € 3.4 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on April 8, 2026.
€ 17.3 million
▲ 14% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.4 million
▲ still € 489,362 loss in 2024
Profit after tax over the fiscal year.
€ 3.4 million
▲ 41% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1 million paid out
29 % of the profit went to the shareholders, mostly to FINANCIERE DU SUD - EST (74 % of the shares). That is where the money ends up.
People and assets in 2025
10.5
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 7% vs 2024
€ 167,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 122,271
▲ 58% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 9.6 million
▲ 1% vs 2024
Loans from banks and other lenders, long and short.
€ 60,301
▲ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 475,016
▼ 16% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,177,557 | € 1,444,470 | € 2,348,429 | € 2,569,319 | ▲ 9% |
| Gross margin | € 396,309 | € 903,801 | € 2,029,056 | € 5,116,916 | ▲ 152% |
| Profit after taxes | € -845,894 | € 304,316 | € -489,362 | € 3,420,889 | ▲ € 3.9 million |
| Equity | € 15,317,319 | € 15,621,634 | € 15,132,273 | € 17,305,427 | ▲ 14% |
| Total debts | € 42,552,337 | € 42,729,995 | € 37,996,954 | € 40,812,246 | ▲ 7% |
| Cash | € 2,671,453 | € 1,149,956 | € 2,395,159 | € 3,374,093 | ▲ 41% |
| Land & buildings | € 3,770,297 | € 3,580,680 | € 3,401,272 | € 3,278,318 | ▼ 4% |
| Retained profit | € 1,317,319 | € 1,621,634 | € 1,132,273 | € 3,305,427 | ▲ 192% |
| Dividend | € 0 | € 0 | € 0 | € 1,000,000 | |
| Bank debt | € 42,058,673 | € 15,715,222 | € 9,527,251 | € 9,589,280 | ▲ 1% |
| Balance sheet total | € 57,869,656 | € 58,351,629 | € 53,129,227 | € 58,117,673 | ▲ 9% |
| Employees (FTE) | 8.8 | 8.9 | 10.5 | 10.5 |
Key figures of ORSA FUND, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ORSA FUND?
What happened at ORSA FUND in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 3.4 million. Source: NBB ↗
- MAGOTTEAUX INTERNATIONAL stepped down as director. NBB
- Emmanuel SCHELLEKENS became a director. NBB
- Jacques DEFER became a director. NBB
- Olivier MASSON became a director. NBB
- Pierre BERNES became a director. NBB
- Françoise JOLLY became a director. NBB
- Laurence CALOZET became a director. NBB
In short
From € 845,894 loss in 2022 to € 3.4 million profit in 2025.
Paid € 132,260 in corporate taxes since 2022.
Best year ever: 2025, with € 3.4 million profit.
On average € 487,300 of value added per employee in 2025.
Management
The stake of FINANCIERE DU SUD - EST, Wallonie Entreprendre comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ORSA FUNDBehind ORSA FUND are Olivier MASSON, Jacques DEFER, Benoit COPPEE, Pierre BERNES, Fabian COLLARD and Emmanuel SCHELLEKENS. The shares are held by FINANCIERE DU SUD - EST (74%) and Wallonie Entreprendre (26%). It owns 100% of INVESTSUD IMMO, 98.5% of INVESTSUD PARTICIPATIONS, 93.3% of CAPITAL & CROISSANCE, 60% of INVESTSUD INNOVATION, 50% of INVESTSUD BOIS and 50% of INVESTSUD TECH itself.
Directors
According to the 2025 annual accounts
Olivier MASSON
Director
since 2021
Jacques DEFER
Director
Also active at: OPERATEUR DE TRANSPORT DE WALLONIE, INVESTSUD IMMO, AUTAN, SOCIETE LIEGEOISE DE GESTION FONCIERE
since 2023
since 2004
Pierre BERNES
Director
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, AVIETA, INVESTSUD IMMO, INVESTSUD BOIS
since 2020
since 2007
Emmanuel SCHELLEKENS
Director
Also active at: Peltzer & Fils SA, PRECISION BALL GROUP, Vanhulen High Precision Springs, Exploitations Forestières Georges HUET, INVESTSUD IMMO, EXPLOITATIONS FORESTIERES PHILIPPE CORNET, TIVOLUX PRO, KANNUNIKEN HOEVE +9 more
since 2024
since 2014
Director · represented by Christophe FRUYTIER
Also active at: INVESTSUD IMMO, FINANCIERE DU SUD - EST, Teasio, CAPITAL & CROISSANCE
since 2011
Xavier GOEBELS
Director
Also active at: UNIC - FLORENVILLE, INVESTSUD IMMO, LUXEMBOURG DEVELOPPEMENT EUROPE DEUX, LUXEMBOURG DEVELOPPEMENT, LUXEMBOURG DEVELOPPEMENT EUROPE TROIS
since 2007
Laurent LEVAUX
Director
Also active at: bpost, INVESTSUD IMMO, FINANCIERE DU SUD - EST, HERSTAL SA, BROWNING, Le Circuit de Spa Francorchamps
since 2006
since 2016
Director · represented by HEUGHEBAERT Fabrice CALEO SRL
Also active at: INVESTSUD IMMO, FINANCIERE DU SUD - EST
since 2012 · until 2025
Shareholders
Participations
100%
98.5%
93.3%
50%
50%
49.5%
49.2%
43.3%
30.4%
30%
30%
28.6%
25.7%
20%
20%
18.8%
13.8%
12.9%
12.5%
10.4%
4%
2.9%
2.4%
2.4%
2.1%
1.9%
1.4%
0.3%
0.2%
0.1%
Establishments
Establishment units
Physical locations of this company
Marche,Rue de la Plaine 11
6900 Marche-en-Famenne
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →Agence Prévention et Sécurité
€ 554,251 gross margin · 2025
ORSA IMMO same network
€ -79,283 gross margin · 2025
FINANCIERE DU SUD - EST same network
€ 167,346 revenue · 2025
ORSA PARTS same network
€ -430 gross margin · 2025
U.T. INVESTSUD
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Details
- Company number
- 0424.971.945
- VAT number
- BE 0424.971.945
- Registered office
- Marche,Rue de la Plaine 11, 6900 Marche-en-Famenne
- Names & denominations
- ORSA FUND
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 November 1983
- Peppol
- Active · Active since 12 May 2025
- Contact
- capitaletcroissance.be
- Activities · NACE
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Activiteiten van holdings
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