FORCOLA
ActiveSummary
FORCOLA has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€312,993) and a net result of -€132,229. Its solvency ranks better than 9% of 11,268 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-06-2023 Normal situation
- Activity
- Buying and selling of own real estate NACE 68110and 1 other
- Establishment unit
- 2.347.325.665 8530 Harelbeke, since 29-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 08-12-2025
Board and ownership
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
- Gross margin
- -€1,769
- Loss
- €132,229
- ▼ 27.7%
- Equity
- -€312,993
- ▼ 73.1%
- Total assets
- €1.6m
- ▲ 28.5%
- Negative equity on 31-12-2025
- 2025 accounts filed 13 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLiquidity: current ratio 0.42, cash €2,369Negative equity -€312,993lowers riskSize: total assets €1.6mSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 10% of them on solvency, 2% on liquidity, 12% on profitability and 8% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 21 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 13 days after the deadline Filed on 13 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00397034.
Annual accounts 2025 filed on 13-08-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €54,509, smaller than the loss of €67,472 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €927,909 | €21,938 |
| Depreciation and write-downs of the year | €100,019 | €47,499 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €85,931 awarded| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €100,019 | €47,499 | ▼ 52.5% |
| Other operating charges640/8 | €9,416 | €5,240 | ▼ 44.3% |
| Gross operating margin9900 | €41,963 | -€1,769 | - |
| Operating profit (loss)9901 | -€67,472 | -€54,509 | ▲ 19.2% |
| Financial income75/76B | €556 | €3,137 | ▲ 464% |
| Recurring financial income75 | €556 | €3,137 | ▲ 464% |
| Financial charges65/66B | €115,848 | €80,857 | ▼ 30.2% |
| Recurring financial charges65 | €115,848 | €80,857 | ▼ 30.2% |
| Profit (loss) for the period before taxes9903 | -€182,764 | -€132,229 | ▲ 27.7% |
| Profit (loss) for the period9904 | -€182,764 | -€132,229 | ▲ 27.7% |
| Profit (loss) for the period to be appropriated9905 | -€182,764 | -€132,229 | ▲ 27.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.2m | €1.6m | ▲ 28.5% |
| Fixed assets21/28 | €0.8m | €0.8m | ▼ 3.1% |
| Tangible fixed assets22/27 | €0.8m | €0.8m | ▼ 3.1% |
| Land and buildings22 | €0.8m | €0.8m | ▼ 5.2% |
| Furniture and vehicles24 | €0.01m | €0.03m | ▲ 146% |
| Current assets29/58 | €0.4m | €0.8m | ▲ 90.7% |
| Stocks and contracts in progress3 | €0.4m | €0.8m | ▲ 110% |
| Stocks30/36 | €0.4m | €0.8m | ▲ 110% |
| Amounts receivable within one year40/41 | €0.04m | €0 | ▼ 100% |
| Trade receivables40 | €0.03m | €0 | ▼ 100% |
| Other amounts receivable41 | €0.008m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.003m | €0.002m | ▼ 6.6% |
| Deferred charges and accrued income490/1 | €0.001m | €0.006m | ▲ 436% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.2m | €1.6m | ▲ 28.5% |
| Equity10/15 | -€0.2m | -€0.3m | ▼ 73.1% |
| Contributions10/11 | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.3m | ▼ 72.3% |
| Amounts payable17/49 | €1.4m | €1.9m | ▲ 34.2% |
| Amounts payable within one year42/48 | €1.4m | €1.9m | ▲ 34.2% |
| Financial debts43 | - | €0.4m | - |
| Credit institutions430/8 | - | €0.4m | - |
| Trade debts44 | €0.05m | €0.05m | ▼ 11.1% |
| Suppliers440/4 | €0.05m | €0.05m | ▼ 11.1% |
| Taxes, remuneration and social security45 | - | €0.01m | - |
| Taxes450/3 | - | €0.01m | - |
| Other amounts payable47/48 | €1.4m | €1.5m | ▲ 8.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€182,764 | -€132,229 | ▲ 27.7% |
| + Depreciation and write-downs630 | €100,019 | €47,499 | ▼ 52.5% |
| Operating cash flow (approximation) | -€82,744 | -€84,729 | ▼ 2.4% |
| Investment in fixed assets (approximation) | - | -€21,938 | - |
| Change in cash | - | -€168 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as FORCOLA has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FORCOLA itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,251 companies, not a prediction for FORCOLA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Board 2
Day-to-day management 2
Permanent representatives 2
Owners and capital
Shareholders
2 ownersOwners 2
-
50%
- Sourceaccounts ValBella 2025Equity €1.7m Profit of €229,534 in 2025 (loss of €174,548 in 2024)50%
Capital transactions
- 03-07-2023 Incorporation · €2,000 · 1,000 shares
Mandate history
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| TWAALF |
|
| ValBella |
|
Network & group
Companies at the same address
3 other companiesConnections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
03-07
Gazette deed
IncorporationFounding capital of €2,000, 1,000 shares · Founders: TWAALF and ValBella · Appointments: TWAALF (director) and ValBella (director)11 points ▸
- Incorporation, 29-06-2023
- Founder, TWAALF
- Founder, ValBella
- Founding capital, €2,000, 1,000 shares
- Board rule, 2
- Director appointment, TWAALF
- Director appointment, ValBella
- Permanent representative, DESCAMPS Ubbe, mentioned 2 times in the deed
- Permanent representative, DESCAMPS Jelle, mentioned 2 times in the deed
- Director appointment, TWAALF (managing director)
- Director appointment, ValBella (managing director)
- The act holds 4 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
6 activities
- Geenszins aan vermogensbeheer of beleggingsadvies doen als bedoeld in wetten en koninklijke besluiten terzake
- Zich onthouden van werkzaamheden onderworpen aan reglementaire bepalingen voor zover vennootschap zelf niet aan deze bepalingen voldoet
- Alle verrichtingen van commerciële,industriële,onroerende,roerende of financiële aard die rechtstreeks of onrechtstreeks met voorwerp verwant of verknocht zijn of verwezenlijking kunnen bevorderen
- Betrokken zijn bij wijze van inbreng,samensmelting,inschrijving of op elke andere wijze in ondernemingen met gelijkaardig,soortgelijk of samenhangend voorwerp of nuttig voor verwezenlijking geheel of gedeelte van voorwerp
- Opsomming niet beperkend
- Voorwerp verwezenlijken in België en buitenland op alle wijzen en manieren
Invoicing and payment
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34322B0546/00C004 | Flanders | 2,138 m² | 1 · 312 m² | 11.8 m · 2 |