Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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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 IMMO from Marche-en-Famenne, company number BE0428036749, closed financial year 2025 with a result of € -15,454 after tax. For that financial year ORSA IMMO recorded a gross margin of € -79,283 and equity of € 3.1 million. Compared with financial year 2024, the result moved from € -72,333 to € -15,454. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on April 8, 2026.
€ 3.1 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -15,454
▲ 79 % less loss than in 2024
Profit after tax over the fiscal year.
€ 50,339
▼ 66% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -630,998.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 730
▼ 83% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -148,460 | € -162,339 | € -167,028 | € -79,283 | ▲ € 87,745 |
| Profit after taxes | € -106,899 | € -114,528 | € -72,333 | € -15,454 | ▲ € 56,879 |
| Equity | € 3,289,721 | € 3,175,193 | € 3,102,859 | € 3,087,405 | |
| Total debts | € 11,757 | € 11,738 | € 18,873 | € 826 | ▼ 96% |
| Cash | € 2,002,368 | € 130,165 | € 147,969 | € 50,339 | ▼ 66% |
| Land & buildings | € 473,041 | € 495,308 | - | - | |
| Retained profit | € -428,682 | € -543,210 | € -615,544 | € -630,998 | ▼ € 15,454 |
| Balance sheet total | € 3,301,478 | € 3,186,930 | € 3,121,732 | € 3,088,231 | ▼ 1% |
Key figures of ORSA IMMO, 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 IMMO?
What happened at ORSA IMMO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jacques DEFER stepped down as director. NBB
- Olivier MASSON stepped down as director. NBB
- Benoit COPPEE stepped down as director. NBB
- Pierre BERNES stepped down as director. NBB
- Fabian COLLARD stepped down as director. NBB
- Emmanuel SCHELLEKENS stepped down as director. NBB
- Laurence CALOZET stepped down as director. NBB
- H. FRUYTIER FINANCE SCA stepped down as director. NBB
In short
From € 106,899 loss in 2022 to € 15,454 loss in 2025.
Management
The stake of INVESTSUD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ORSA IMMOThe shares are held by INVESTSUD (100%). It owns 17.3% of OWN 18 SRL and 6.7% of Capital & Croissance SRL itself.
Directors
According to the 2025 annual accounts
Jacques DEFER
Director
Also active at: OPERATEUR DE TRANSPORT DE WALLONIE, INVESTSUD, AUTAN, SOCIETE LIEGEOISE DE GESTION FONCIERE
since 2023 · until 2028
Olivier MASSON
Director
since 2021 · until 2028
· until 2028
Pierre BERNES
Director
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, AVIETA, INVESTSUD, INVESTSUD BOIS
since 2020 · until 2028
· until 2028
Emmanuel SCHELLEKENS
Director
Also active at: Peltzer & Fils SA, PRECISION BALL GROUP, Vanhulen High Precision Springs, Exploitations Forestières Georges HUET, INVESTSUD, EXPLOITATIONS FORESTIERES PHILIPPE CORNET, TIVOLUX PRO, KANNUNIKEN HOEVE +9 more
since 2024 · until 2028
· until 2028
Director · represented by HEUGHEBAERT Fabrice CALEO SRL
Also active at: INVESTSUD, FINANCIERE DU SUD - EST
since 2012 · until 2025
Director · represented by Christophe FRUYTIER
Also active at: INVESTSUD, FINANCIERE DU SUD - EST, Teasio, CAPITAL & CROISSANCE
· until 2028
· until 2028
Xavier GOEBELS
Director
Also active at: UNIC - FLORENVILLE, INVESTSUD, LUXEMBOURG DEVELOPPEMENT EUROPE DEUX, LUXEMBOURG DEVELOPPEMENT, LUXEMBOURG DEVELOPPEMENT EUROPE TROIS
· until 2028
Laurent LEVAUX
Director
Also active at: bpost, INVESTSUD, FINANCIERE DU SUD - EST, HERSTAL SA, BROWNING, Le Circuit de Spa Francorchamps
· until 2028
since 2016 · until 2028
Shareholders
100%
Participations
17.3%
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 →ORSA FUND same network
€ 2.6 million revenue · 2025
Agence Prévention et Sécurité
€ 554,251 gross margin · 2025
FINANCIERE DU SUD - EST same network
€ 167,346 revenue · 2025
ORSA PARTS
€ -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.
Details
- Company number
- 0428.036.749
- VAT number
- BE 0428.036.749
- Registered office
- Marche,Rue de la Plaine 11, 6900 Marche-en-Famenne
- Names & denominations
- ORSA IMMO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 October 1985
- Peppol
- Active · Active since 12 May 2025
- Activities · NACE
Financiële lease
Financiële leasing
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur van woningen, exclusief sociale woningen