A LA FORGE
ActiveSummary
A LA FORGE has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €192,184 and a net result of €13,225. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 16% of 680 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability51▲+3
Solvency42▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.46 against 1.56 in 2024; short-term debt: 18% and cash: 5.1% of total assets), and 82.5% of the assets are financed with debt.
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.5%
Return on assets
1.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 680 sector peers (2025).
NBB · sector comparisonPosition among 680 sector peers
Solvency
better than 16%
← weakest
strongest →
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
34 d early
2023
22 d early
2022
22 d late
2021
16 d late
2020
18 d early
2019
119 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€13,225
2024 · -€6,794
Working capital
€90,231▼ 13.1%
2024 · €103,878
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,547▼ 4.6%€26,207▲ 300%€13,224▼ 49.5%€9,857▼ 25.5%€39,917▲ 305%
Net result€584below the sector's middle half▼ 85.6%€18,748within the sector's middle half▲ 3,110%€5,465below the sector's middle half▼ 70.8%-€6,794below the sector's middle half€13,225within the sector's middle half
Equity€176,541below the sector's middle half▼ 18.9%€180,289below the sector's middle half▲ 2.1%€185,754below the sector's middle half▲ 3.0%€178,959below the sector's middle half▼ 3.7%€192,184below the sector's middle half▲ 7.4%
Total assets€362,540below the sector's middle half▲ 11.1%€454,648below the sector's middle half▲ 25.4%€430,731below the sector's middle half▼ 5.3%€1.1mwithin the sector's middle half▲ 165%€1.1mbelow the sector's middle half▼ 3.6%
Debt€185,999▲ 71.4%€274,359▲ 47.5%€244,977▼ 10.7%€961,478▲ 292%€906,940▼ 5.7%
Working capital€191,791▲ 42.5%€198,828▲ 3.7%€189,569▼ 4.7%€103,878▼ 45.2%€90,231▼ 13.1%
Solvency48.7%within the sector's middle half▼ 18.0pp39.7%within the sector's middle half▼ 9.0pp43.1%within the sector's middle half▲ 3.5pp15.7%below the sector's middle half▼ 27.4pp17.5%below the sector's middle half▲ 1.8pp
Staff (FTE)1.9below the sector's middle half▼ 5.0%2below the sector's middle half▲ 5.3%2.5below the sector's middle half▲ 25.0%2.8below the sector's middle half▲ 12.0%2.8below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 305% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€810,798 ▼ 4.6%
Current assets
€288,326 ▼ 0.8%
Equity and liabilities €1.1m
Equity
€192,184 ▲ 7.4%
Debt
€906,940 ▼ 5.7%
Debt's share of the balance-sheet total falls from 84.3% to 82.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€107,150▲
2024 · €66,356
Cash flow
€80,458▲
2024 · €49,704
Current ratio
1.46▼
2024 · 1.56
Quick ratio
0.77▼
2024 · 0.85
Debt to equity
4.72▼
2024 · 5.37
ROE
6.9%▲
2024 · -3.8%
ROA
1.2%▲
2024 · -0.6%
Interest coverage
3.69▲
2024 · 3.61
Debt ≤ 1 year
€198,095▲
2024 · €186,891
Debt > 1 year
€708,845▼
2024 · €774,532
Income taxes
€625▲
2024 · €334
Staff costs
€131,926▼
2024 · €138,117
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,972 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €71,591 | €88,258 | €116,628 | €138,117 | €131,926 | ▼ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,747 | €29,148 | €35,365 | €56,499 | €67,233 | ▲ 19.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,506 | €0 | - | -€2,273 | €0 | ▲ 100% |
| Other operating charges640/8 | €4,015 | €4,242 | €4,182 | €9,734 | €9,504 | ▼ 2.4% |
| Gross operating margin9900 | €110,405 | €147,855 | €169,399 | €211,933 | €248,580 | ▲ 17.3% |
| Operating profit (loss)9901 | €6,547 | €26,207 | €13,224 | €9,857 | €39,917 | ▲ 305% |
| Financial income75/76B | €121 | €503 | €2,750 | €2,071 | €2,954 | ▲ 42.6% |
| Recurring financial income75 | €121 | €503 | €2,750 | €2,071 | €2,954 | ▲ 42.6% |
| Financial charges65/66B | €1,907 | €3,844 | €6,217 | €18,388 | €29,021 | ▲ 57.8% |
| Recurring financial charges65 | €1,907 | €3,844 | €6,217 | €18,388 | €29,021 | ▲ 57.8% |
| Profit (loss) for the period before taxes9903 | €4,760 | €22,865 | €9,757 | -€6,460 | €13,849 | ▲ 314% |
| Income taxes67/77 | €4,177 | €4,117 | €4,292 | €334 | €625 | ▲ 87.0% |
| Profit (loss) for the period9904 | €584 | €18,748 | €5,465 | -€6,794 | €13,225 | ▲ 295% |
| Transfer from tax-exempt reserves789 | €2,718 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €3,302 | €18,748 | €5,465 | -€6,794 | €13,225 | ▲ 295% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €362,540 | €454,648 | €430,731 | €1.1m | €1.1m | ▼ 3.6% |
| Fixed assets21/28 | €123,724 | €161,637 | €170,318 | €849,669 | €810,798 | ▼ 4.6% |
| Intangible fixed assets21 | €38,233 | €33,233 | €33,034 | €26,228 | €19,421 | ▼ 26.0% |
| Tangible fixed assets22/27 | €85,491 | €128,404 | €137,284 | €823,441 | €791,377 | ▼ 3.9% |
| Land and buildings22 | €39,601 | €38,114 | €36,626 | €735,239 | €710,147 | ▼ 3.4% |
| Plant, machinery and equipment23 | €3,902 | €26,394 | €53,967 | €55,666 | €58,648 | ▲ 5.4% |
| Furniture and vehicles24 | €41,988 | €63,897 | €46,691 | €32,537 | €22,582 | ▼ 30.6% |
| Current assets29/58 | €238,815 | €293,011 | €260,413 | €290,769 | €288,326 | ▼ 0.8% |
| Stocks and contracts in progress3 | €98,273 | €105,755 | €106,747 | €132,763 | €135,513 | ▲ 2.1% |
| Stocks30/36 | €98,273 | €105,755 | €106,747 | €132,763 | €135,513 | ▲ 2.1% |
| Amounts receivable within one year40/41 | €65,650 | €114,025 | €65,153 | €94,901 | €92,382 | ▼ 2.7% |
| Trade receivables40 | €56,286 | €97,824 | €62,961 | €77,630 | €87,636 | ▲ 12.9% |
| Other amounts receivable41 | €9,364 | €16,200 | €2,192 | €17,271 | €4,746 | ▼ 72.5% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €70,644 | €68,101 | €78,556 | €55,641 | €56,200 | ▲ 1.0% |
| Deferred charges and accrued income490/1 | €4,248 | €5,130 | €9,957 | €7,464 | €4,231 | ▼ 43.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €362,540 | €454,648 | €430,731 | €1.1m | €1.1m | ▼ 3.6% |
| Equity10/15 | €176,541 | €180,289 | €185,754 | €178,959 | €192,184 | ▲ 7.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €30,989 | €30,989 | €30,989 | €30,989 | €30,989 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Profit (loss) carried forward14 | €83,552 | €87,299 | €92,764 | €85,970 | €99,195 | ▲ 15.4% |
| Amounts payable17/49 | €185,999 | €274,359 | €244,977 | €961,478 | €906,940 | ▼ 5.7% |
| Amounts payable after more than one year17 | €138,554 | €179,193 | €174,123 | €774,532 | €708,845 | ▼ 8.5% |
| Financial debts170/4 | €138,554 | €179,193 | €174,123 | €774,532 | €707,145 | ▼ 8.7% |
| Other amounts payable178/9 | - | - | - | - | €1,700 | - |
| Amounts payable within one year42/48 | €47,024 | €94,183 | €70,844 | €186,891 | €198,095 | ▲ 6.0% |
| Current portion of amounts payable after more than one year42 | €20,348 | €26,658 | €33,508 | €55,022 | €67,818 | ▲ 23.3% |
| Trade debts44 | €17,039 | €43,333 | €23,151 | €91,556 | €77,710 | ▼ 15.1% |
| Suppliers440/4 | €17,039 | €43,333 | €23,151 | €91,556 | €77,710 | ▼ 15.1% |
| Taxes, remuneration and social security45 | €9,153 | €7,450 | €14,185 | €10,313 | €22,567 | ▲ 119% |
| Taxes450/3 | €0 | - | €4,062 | €0 | €11,177 | - |
| Remuneration and social security454/9 | €9,153 | €7,450 | €10,124 | €10,313 | €11,390 | ▲ 10.4% |
| Other amounts payable47/48 | €484 | €16,742 | €0 | €30,000 | €30,000 | = |
| Accrued charges and deferred income492/3 | €420 | €983 | €11 | €56 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €584 | €18,748 | €5,465 | -€6,794 | €13,225 | ▲ 295% |
| + Depreciation and write-downs630 | €26,747 | €29,148 | €35,365 | €56,499 | €67,233 | ▲ 19.0% |
| Operating cash flow (approximation) | €27,331 | €47,895 | €40,830 | €49,704 | €80,458 | ▲ 61.9% |
| Investment in fixed assets (approximation) | - | -€67,060 | -€44,047 | -€735,849 | -€28,363 | ▲ 96.1% |
| Change in cash | - | -€2,543 | €10,455 | -€22,915 | €559 | ▲ 102% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €13,225
Net result €13,225 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€6,794
Net result drops to -€6,794, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 16 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 5.08
Current ratio from 2.29 to 5.08; short-term debt falls from €104,255 to €47,024.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 2 establishment units since 1988
Ground area
885 m²
Building footprint
207 m²
Volume, LiDAR
417 m³
2 parcels, Wallonia · tallest building 18.5 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Rue Basse-Sauvenière 4/6, 4000 Liège
since 19882.040.804.279
La maison de la clé
since 20242.377.871.460
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62087B0163/00F003 | Wallonia | 826 m² | 1 · 175 m² | - |
| 62813F0052/02K000 ProtectedSite or landscape |
Wallonia | 59 m² | 1 · 31 m² | 18.4 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 ownerChain of control
- FRANSSEN INVEST
- A LA FORGE
Highest known parent: FRANSSEN INVEST. The sources do not say who stands above it.
Owners 1
- FRANSSEN INVESTparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1988
Fiscal year end31-12
Activities, NACEBEL 2025
25999Manufacture of fabricated metal products, except machinery and equipment
95290Repair and maintenance of other personal and household goods
43320Joinery installation
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434520804
Also
9925:BE0434520804
Registered
13-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.