BR Forrest
ActiveSummary
The computed 12-month bankruptcy probability of BR Forrest is 1.7% (moderate). The 2024 annual accounts show equity of €29,347 and a net result of €3,518. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 77% of 728 sector peers (fiscal year 2024). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability78▼-22
Solvency88▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity ample (current ratio 1.77 against 1.83 in 2023; short-term debt: 36.8% and cash: 16.8% of total assets), and 36.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 53
Relative position
BE, all sectors
reference
Postal and courier activities (NACE 53)
about 277% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
63.2%
Return on assets
7.6%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €29,347
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-12-2025, 145 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
145 d late
2023
41 d late
2022
77 d early
2021
18 d early
2020
31 d late
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 10 days after the deadline; the sector median for financial year 2024 is 12 days after the deadline, and 56% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€5,334
EBIT margin
33.8%
Net result
€3,518▼ 76.9%
2023 · €15,264
Working capital
€13,150▼ 17.5%
2023 · €15,938
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 53, Postal and courier activities, 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
Line20202021202220232024
Turnover
Operating result-€949-€1,667▼ 75.6%€20,493€22,947▲ 12.0%€6,911▼ 69.9%
Net result-€949within the sector's middle half-€1,934within the sector's middle half▼ 104%€14,682within the sector's middle half€15,264within the sector's middle half▲ 4.0%€3,518within the sector's middle half▼ 76.9%
EBIT margin
Equity-€2,184below the sector's middle half▼ 76.9%-€4,118below the sector's middle half▼ 88.6%€10,564within the sector's middle half€25,828within the sector's middle half▲ 144%€29,347within the sector's middle half▲ 13.6%
Total assets€22,240below the sector's middle half€44,632within the sector's middle half▲ 101%€45,126within the sector's middle half▲ 1.1%€46,468within the sector's middle half▲ 3.0%
Debt€2,184▼ 36.3%€26,358▲ 1,107%€34,068▲ 29.3%€19,297▼ 43.4%€17,121▼ 11.3%
Working capital-€4,118-€738▲ 82.1%€15,938€13,150▼ 17.5%
Solvency-18.5%below the sector's middle half23.7%within the sector's middle half▲ 42.2pp57.2%within the sector's middle half▲ 33.6pp63.2%above the sector's middle half▲ 5.9pp
Staff (FTE)0.4
above
within
below
the middle half (P25 to P75) of NACE 53, Postal and courier activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 70% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €46,468
Fixed assets
€16,197 ▲ 63.8%
Current assets
€30,271 ▼ 14.1%
Equity and liabilities €46,468
Equity
€29,347 ▲ 13.6%
Debt
€17,121 ▼ 11.3%
Debt's share of the balance-sheet total falls from 42.8% to 36.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12,375▼
2023 · €26,596
Cash flow
€8,983▼
2023 · €18,913
Current ratio
1.77▼
2023 · 1.83
Debt to equity
0.58▼
2023 · 0.75
ROE
12.0%▼
2023 · 59.1%
ROA
7.6%▼
2023 · 33.8%
Interest coverage
13.88▼
2023 · 34.32
Debt ≤ 1 year
€17,121▼
2023 · €19,297
Income taxes
€2,522▼
2023 · €6,930
Staff costs
€7,324
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 31,324 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €87 | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €7,324 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €595 | - | €1,619 | €3,649 | €5,465 | ▲ 49.7% |
| Other operating charges640/8 | - | €459 | €1,403 | €1,516 | €2,952 | ▲ 94.7% |
| Non-recurring operating charges66A | - | - | €500 | - | - | - |
| Gross operating margin9900 | - | -€1,208 | €24,014 | €28,112 | €22,651 | ▼ 19.4% |
| Operating profit (loss)9901 | -€949 | -€1,667 | €20,493 | €22,947 | €6,911 | ▼ 69.9% |
| Financial income75/76B | - | €0 | €0 | €22 | €20 | ▼ 6.5% |
| Recurring financial income75 | - | €0 | €0 | €22 | €20 | ▼ 6.5% |
| Financial charges65/66B | - | €267 | €197 | €775 | €891 | ▲ 15.0% |
| Recurring financial charges65 | - | €267 | €197 | €775 | €891 | ▲ 15.0% |
| Profit (loss) for the period before taxes9903 | -€949 | -€1,934 | €20,296 | €22,194 | €6,040 | ▼ 72.8% |
| Income taxes67/77 | - | - | €5,613 | €6,930 | €2,522 | ▼ 63.6% |
| Profit (loss) for the period9904 | -€949 | -€1,934 | €14,682 | €15,264 | €3,518 | ▼ 76.9% |
| Profit (loss) for the period to be appropriated9905 | -€949 | -€1,934 | €14,682 | €15,264 | €3,518 | ▼ 76.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | - | €22,240 | €44,632 | €45,126 | €46,468 | ▲ 3.0% |
| Formation expenses20 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | - | - | €11,302 | €9,890 | €16,197 | ▲ 63.8% |
| Tangible fixed assets22/27 | - | - | €11,302 | €9,890 | €12,047 | ▲ 21.8% |
| Furniture and vehicles24 | - | - | €11,302 | €9,890 | €12,047 | ▲ 21.8% |
| Financial fixed assets28 | - | - | - | - | €4,150 | - |
| Current assets29/58 | - | €22,240 | €33,330 | €35,236 | €30,271 | ▼ 14.1% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | €8,435 | €12,641 | €20,201 | €20,857 | ▲ 3.2% |
| Trade receivables40 | - | €8,435 | €12,641 | €20,201 | €20,256 | ▲ 0.3% |
| Other amounts receivable41 | - | - | - | - | €601 | - |
| Cash at bank and in hand54/58 | €0 | €13,412 | €19,624 | €14,450 | €7,822 | ▼ 45.9% |
| Deferred charges and accrued income490/1 | - | €393 | €1,065 | €585 | €1,592 | ▲ 172% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0 | €22,240 | €44,632 | €45,126 | €46,468 | ▲ 3.0% |
| Equity10/15 | -€2,184 | -€4,118 | €10,564 | €25,828 | €29,347 | ▲ 13.6% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €222 | €222 | €222 | €7,228 | €10,747 | ▲ 48.7% |
| Non-distributable reserves130/1 | - | €222 | €222 | - | - | - |
| Reserves not available under the articles1311 | - | €222 | €222 | - | - | - |
| Distributable reserves133 | - | - | - | €7,228 | €10,747 | ▲ 48.7% |
| Profit (loss) carried forward14 | -€21,006 | -€22,940 | -€8,258 | - | - | - |
| Amounts payable17/49 | €2,184 | €26,358 | €34,068 | €19,297 | €17,121 | ▼ 11.3% |
| Amounts payable within one year42/48 | €2,184 | €26,358 | €34,068 | €19,297 | €17,121 | ▼ 11.3% |
| Trade debts44 | - | €550 | €8,616 | €3,261 | €2,360 | ▼ 27.6% |
| Suppliers440/4 | - | €550 | €8,616 | €3,261 | €2,360 | ▼ 27.6% |
| Taxes, remuneration and social security45 | - | €2,272 | €13,608 | €15,873 | €14,725 | ▼ 7.2% |
| Taxes450/3 | - | €2,272 | €9,170 | €14,373 | €14,300 | ▼ 0.5% |
| Remuneration and social security454/9 | - | - | €4,439 | €1,500 | €425 | ▼ 71.6% |
| Other amounts payable47/48 | - | €23,536 | €11,844 | €163 | €36 | ▼ 77.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€949 | -€1,934 | €14,682 | €15,264 | €3,518 | ▼ 76.9% |
| + Depreciation and write-downs630 | €595 | - | €1,619 | €3,649 | €5,465 | ▲ 49.7% |
| Operating cash flow (approximation) | -€355 | -€1,934 | €16,301 | €18,913 | €8,983 | ▼ 52.5% |
| Investment in fixed assets (approximation) | - | - | - | -€2,237 | -€11,771 | ▼ 426% |
| Change in cash | - | €13,412 | €6,212 | -€5,174 | -€6,627 | ▼ 28.1% |
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
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 145 days late
2024
10-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 41 days late
2023
31-12
Financial
Highest result since 2018net €15,264 ▲4%
Operating result €22,947, net result €15,264, both a record.
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €14,682
Net result €14,682 after 2 loss-making years.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €1,748
Net result €1,748 after one loss-making year.
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
09-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated 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, Heusden-Zolder · 1 establishment unit since 2001
Ground area
1,035 m²
Building footprint
152 m²
Volume, LiDAR
930 m³
Parcel 71065B0390/00P004, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
RECHBART /BINO PROD
since 20012.100.122.056
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065B0390/00P004 | Flanders | 1,035 m² | 1 · 152 m² | 10.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Parcel delivery
Notified to the BIPT
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Of 4,920 companies in sector 53200 we hold annual accounts for 1,323. 1,097 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-01-2001
Fiscal year end31-12
Activities, NACEBEL 2025
53200Other postal and courier activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473743248
Also
9925:BE0473743248
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.