ACTIVE

ORTHROS

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Financial year 2025 · closed on 31/12/2025

Net result

-207,7 k €

+19.4% YoY

Revenue

1,2 M €

+24.3% YoY

Equity

5,4 M €

-3.7% YoY

Workforce

1,0 ETP

-70.6% YoY

What does ORTHROS do?

ORTHROS is a Public limited company incorporated in 1992. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Zaventem. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0448.826.720

Incorporation

10/12/1992

Legal form

Public limited company

Registered office

Da Vincilaan 3 box 3
1930 Zaventem · FlandreSee on map

Contributed capital

5 120 745,55 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main 47112Retail sale in non-specialised stores with food, beverages or tobacco predominating 47114Retail sale in non-specialised stores with food, beverages or tobacco predominating 52112Warehousing and storage

Joint committees (4)

119
201
20201
312

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	1,2 M €	+24.3%	981,1 k €		–		–		–		3,2 M €	+192%	1,1 M €	-51.8%	2,3 M €	+60.2%	1,4 M €		–		–		–		496,6 k €	-82.2%	2,8 M €	+35.7%	2,1 M €	+200%	686,2 k €		–		–
EBITDA	71 k €	-48.6%	138,1 k €	-59.2%	338,6 k €	+8031%	-4,3 k €	-115%	27,8 k €	-92.8%	383,8 k €	+180%	-482,7 k €	+80.3%	-2,4 M €	-103%	-1,2 M €	-15945%	-7,5 k €	-31.9%	-5,7 k €	+56.1%	-12,9 k €	+90.8%	-141 k €	+58.7%	-341,6 k €	+61.6%	-888,5 k €	-283%	-232,1 k €	-1087%	-19,5 k €	-113%	149,8 k €
Operating result	-276,2 k €	+28.3%	-385 k €	-37.6%	-279,8 k €	-509%	-46 k €	-322%	-10,9 k €	-103%	359,9 k €	+175%	-482,7 k €	+81.9%	-2,7 M €	-101%	-1,3 M €	-17656%	-7,5 k €	-31.9%	-5,7 k €	+56.1%	-12,9 k €	+90.8%	-140,8 k €	+60.3%	-354,7 k €	-10.3%	-321,4 k €	-38.5%	-232,1 k €	-1087%	-19,5 k €	-113%	149,6 k €
Net result	-207,7 k €	+19.4%	-257,9 k €	-114%	-120,7 k €	-459%	-21,6 k €	-1.9%	-21,2 k €	-106%	350,7 k €	+172%	-490,3 k €	+81.8%	-2,7 M €	-101%	-1,3 M €	-18593%	-7,2 k €	+9.3%	-7,9 k €	+43.1%	-13,9 k €	+90.3%	-142,7 k €	+59.5%	-352,7 k €	-44.3%	-244,3 k €	-24.2%	-196,7 k €	-468%	53,4 k €	-90.0%	535,4 k €
Balance sheet
Equity	5,4 M €	-3.7%	5,7 M €	-4.4%	5,9 M €	-2.0%	6 M €	-0.4%	6,1 M €	-0.3%	6,1 M €	+6.1%	5,7 M €	+66.2%	3,4 M €	+1358%	236,4 k €	-58.9%	574,9 k €	-1.2%	582 k €	-1.3%	589,9 k €	-2.3%	603,8 k €	-19.1%	746,5 k €	-32.1%	1,1 M €	-88.2%	9,3 M €	-2.1%	9,5 M €	+0.6%	9,5 M €
Total assets	5,6 M €	-17.4%	6,8 M €	+13.2%	6 M €	-0.7%	6,1 M €	-0.1%	6,1 M €	-2.0%	6,2 M €	+6.1%	5,8 M €	+56.1%	3,7 M €	+59.1%	2,4 M €	+308%	576,2 k €	-1.5%	584,7 k €	-1.0%	590,9 k €	-2.4%	605,2 k €	-47.9%	1,2 M €	-87.8%	9,5 M €	-3.2%	9,8 M €	+3.0%	9,6 M €	+0.6%	9,5 M €
Cash	–		–		–		–		–		3,3 k €		–		20,4 k €	-24.1%	26,9 k €		–		–		–		–		27,9 k €	-56.6%	64,3 k €	+7.1%	60 k €		–		–
Debts	113,7 k €	-89.7%	1,1 M €	+2743%	38,7 k €	+99.8%	19,4 k €	+268%	5,3 k €	-93.8%	85,4 k €	-25.7%	115 k €	-61.0%	295,1 k €	-86.0%	2,1 M €	+158799%	1,3 k €	-50.5%	2,7 k €	+170%	995 €	-26.5%	1,4 k €	-99.7%	415,5 k €	-95.1%	8,4 M €	+1606%	493,1 k €	+3854%	12,5 k €	-0.6%	12,6 k €
Other
Workforce	1,0 ETP	-70.6%	3,4 ETP		–		–		–		7,0 ETP	-2.8%	7,2 ETP	-57.1%	16,8 ETP	-33.1%	25,1 ETP		–		–		–		0,3 ETP	-92.3%	3,9 ETP	-2.5%	4,0 ETP	+81.8%	2,2 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 40 ended

Active mandates

Matthias Locker

Director · since 01 octobre 2025 · until 08 juin 2028

Active

Giosino Cornacchia

Director · since 12 juin 2025 · until 08 juin 2028

Active

Pascal Boon

Director · since 12 juin 2025 · until 08 juin 2028

Active

Ended mandates

Sébastien Cayla

Director · since 01 novembre 2022 · until 12 juin 2025

Ended

Giosino Cornacchia

Director · since 30 septembre 2022 · until 12 juin 2025

Ended

Pascal Boon

Director · since 30 septembre 2022 · until 12 juin 2025

Ended

Francis Costenoble

Director · since 10 juin 2021 · until 13 juin 2024

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/06/2026	08/07/2025	21/06/2024	14/06/2023	16/06/2022	08/07/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	08/06/2023	09/06/2022	10/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	11/06/2026	24/06/2026	Dutch	PDF
Full model	31/12/2024	12/06/2025	08/07/2025	Dutch	PDF
Full model	31/12/2023	13/06/2024	21/06/2024	Dutch	PDF
Full model	31/12/2022	08/06/2023	14/06/2023	Dutch	PDF
Full model	31/12/2021	09/06/2022	16/06/2022	French	PDF
Full model	31/12/2020	10/06/2021	08/07/2021	French	PDF
Full model	31/12/2019	11/06/2020	23/06/2020	French	PDF
Full model	31/12/2018	13/06/2019	10/07/2019	French	PDF
Full model	31/12/2017	14/06/2018	06/07/2018	French	PDF
Full model	31/12/2016	08/06/2017	26/06/2017	French	PDF
Full model	31/12/2015	09/06/2016	27/06/2016	French	PDF
Full model	31/12/2014	11/06/2015	07/07/2015	French	PDF
Full model	31/12/2013	12/06/2014	01/07/2014	French	PDF
Full model	31/12/2012	13/06/2013	10/07/2013	French	PDF
Full model	31/12/2011	14/06/2012	10/07/2012	French	PDF
Full model	31/12/2010	09/06/2011	06/07/2011	French	PDF
Full model	31/12/2009	10/06/2010	27/07/2010	French	PDF
Full model	31/12/2008	11/06/2009	17/07/2009	French	PDF
Full model	31/12/2007	30/06/2008	29/08/2008	French	PDF
Full model	31/12/2006	14/06/2007	13/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 40 ended

Active mandates

Matthias Locker

Director · since 01 octobre 2025 · until 08 juin 2028

Active

Giosino Cornacchia

Director · since 12 juin 2025 · until 08 juin 2028

Active

Pascal Boon

Director · since 12 juin 2025 · until 08 juin 2028

Active

Ended mandates

Sébastien Cayla

Director · since 01 novembre 2022 · until 12 juin 2025

Ended

Giosino Cornacchia

Director · since 30 septembre 2022 · until 12 juin 2025

Ended

Pascal Boon

Director · since 30 septembre 2022 · until 12 juin 2025

Ended

Francis Costenoble

Director · since 10 juin 2021 · until 13 juin 2024

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other01/07/2026
—
PDF
Mandates21/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office19/01/2023
SIEGE SOCIAL - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office19/01/2023
MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/03/2022
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-207,7 k €↑
2024
Annual accounts 2024-257,9 k €↓
2023
Annual accounts 2023-120,7 k €↓
2022
Annual accounts 2022-21,6 k €↓
2021
Annual accounts 2021-21,2 k €↓
2020
Annual accounts 2020350,7 k €↑
2019
Annual accounts 2019-490,3 k €↑
2018
Annual accounts 2018-2,7 M €↓
2017
Annual accounts 2017-1,3 M €↓
2016
Annual accounts 2016-7,2 k €↑
2016
Name changeORTHROS SA
2015
Annual accounts 2015-7,9 k €↑
2014
Annual accounts 2014-13,9 k €↑
2013
Annual accounts 2013-142,7 k €↑
2012
Annual accounts 2012-352,7 k €↓
2011
Annual accounts 2011-244,3 k €↓
2010
Annual accounts 2010-196,7 k €↓
2009
Annual accounts 200953,4 k €↓
2008
Annual accounts 2008535,4 k €
2008
Name changeBIGG'S
10/12/1992
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

ORTHROS

Overview

What does ORTHROS do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline