FOREMOST IMMO
ActiveSummary
FOREMOST IMMO has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19.4m and a net result of €833,282. Equity is growing by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 48% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-1
Solvency61▼-16
Growth70=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270,000 at 30 days acceptable
Liquidity short (current ratio 0.09 against 3.15 in 2024; short-term debt: 47.4% and cash: 3% of total assets), and 63.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
36.1%
Return on assets
1.6%
Age of the figures
9 mo
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
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
22 d early
2023
16 d early
2022
24 d early
2021
17 d early
2020
31 d early
2019
17 d late
← 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 16 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€2.7m▲ 5.2%
2024 · €2.6m
EBIT margin
54.2%▼ 1.1pp
2024 · 55.3%
Net result
€833,282▼ 22.6%
2024 · €1.1m
Working capital
-€23.1m
2024 · €11.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20212022202320242025
Turnover€3.5m▲ 54.6%€2.3m▼ 33.0%€2.5m▲ 7.7%€2.6m▲ 3.8%€2.7m▲ 5.2%
Operating result€578,477▼ 5.9%€566,467▼ 2.1%€529,613▼ 6.5%€1.4m▲ 170%€1.5m▲ 3.1%
Net result€476,411above the sector's middle half▲ 34.5%€6.4mabove the sector's middle half▲ 1,234%€1.1mabove the sector's middle half▼ 82.8%€1.1mabove the sector's middle half▼ 1.4%€833,282above the sector's middle half▼ 22.6%
EBIT margin16.7%▼ 10.7pp24.4%▲ 7.7pp21.2%▼ 3.2pp55.3%▲ 34.1pp54.2%▼ 1.1pp
Equity€10.0mabove the sector's middle half▲ 5.0%€16.4mabove the sector's middle half▲ 63.3%€17.5mabove the sector's middle half▲ 6.7%€18.6mabove the sector's middle half▲ 6.2%€19.4mabove the sector's middle half▲ 4.5%
Total assets€26.2mabove the sector's middle half▼ 7.7%€41.0mabove the sector's middle half▲ 56.5%€40.2mabove the sector's middle half▼ 1.8%€35.5mabove the sector's middle half▼ 11.9%€53.7mabove the sector's middle half▲ 51.5%
Debt€16.1m▼ 14.2%€24.6m▲ 52.2%€22.7m▼ 7.5%€16.9m▼ 25.7%€34.3m▲ 103%
Working capital-€5.7m▲ 8.8%€826,077€16.6m▲ 1,911%€11.0m▼ 33.5%-€23.1m
Solvency38.4%within the sector's middle half▲ 4.6pp40.0%within the sector's middle half▲ 1.7pp43.5%within the sector's middle half▲ 3.5pp52.4%within the sector's middle half▲ 8.9pp36.1%within the sector's middle half▼ 16.2pp
Staff (FTE)0.3below the sector's middle half0.2below the sector's middle half▼ 33.3%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €53.7m
Fixed assets
€51.3m ▲ 166%
Current assets
€2.4m ▼ 85.3%
Equity and liabilities €53.7m
Equity
€19.4m ▲ 4.5%
Debt
€34.3m ▲ 103%
Debt's share of the balance-sheet total rises from 47.6% to 63.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.9m▲
2024 · €2.9m
Cash flow
€2.3m▼
2024 · €2.5m
Current ratio
0.09▼
2024 · 3.15
Debt to equity
1.77▲
2024 · 0.91
ROE
4.3%▼
2024 · 5.8%
ROA
1.6%▼
2024 · 3.0%
Interest coverage
3.66▲
2024 · 3.49
Debt ≤ 1 year
€25.4m▲
2024 · €5.1m
Debt > 1 year
€7.5m▼
2024 · €11.0m
Income taxes
€282,316▼
2024 · €304,679
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €2.7m | €2.5m | €2.7m | €4.8m | €3.9m | ▼ 18.4% |
| Turnover70 | €3.5m | €2.3m | €2.5m | €2.6m | €2.7m | ▲ 5.2% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | -€1.5m | - | - | - | - | - |
| Other operating income74 | €668,474 | €214,979 | €190,252 | €2.2m | €1.2m | ▼ 46.5% |
| Operating charges60/66A | €2.1m | €2.0m | €2.2m | €3.3m | €2.4m | ▼ 27.6% |
| Goods for resale, raw materials and consumables60 | €155,857 | €31,800 | €2,175 | €961,798 | €1,600 | ▼ 99.8% |
| Purchases600/8 | €155,857 | €31,800 | €2,175 | €961,798 | €1,600 | ▼ 99.8% |
| Services and other goods61 | €287,829 | €285,525 | €496,831 | €672,536 | €730,557 | ▲ 8.6% |
| Remuneration, social security and pensions62 | - | - | €24,161 | €21,875 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.4m | €1.5m | €1.5m | €1.5m | €1.4m | ▼ 0.7% |
| Other operating charges640/8 | €188,136 | €197,648 | €150,945 | €219,537 | €234,561 | ▲ 6.8% |
| Operating profit (loss)9901 | €578,477 | €566,467 | €529,613 | €1.4m | €1.5m | ▲ 3.1% |
| Financial income75/76B | €394,880 | €6.3m | €1.9m | €776,480 | €436,679 | ▼ 43.8% |
| Recurring financial income75 | €394,880 | €453,248 | €984,528 | €776,480 | €436,679 | ▼ 43.8% |
| Income from financial fixed assets750 | €155,284 | €212,265 | - | - | - | - |
| Income from current assets751 | €239,596 | €240,983 | €984,528 | €776,468 | €436,669 | ▼ 43.8% |
| Other financial income752/9 | - | - | - | €12 | €11 | ▼ 10.7% |
| Non-recurring financial income76B | - | €5.8m | €868,411 | - | - | - |
| Financial charges65/66B | €389,495 | €369,811 | €982,168 | €827,806 | €798,667 | ▼ 3.5% |
| Recurring financial charges65 | €389,495 | €369,811 | €982,168 | €827,806 | €798,667 | ▼ 3.5% |
| Debt charges650 | €388,465 | €368,894 | €980,323 | €825,798 | €797,610 | ▼ 3.4% |
| Other financial charges652/9 | €1,029 | €917 | €1,845 | €2,008 | €1,057 | ▼ 47.3% |
| Profit (loss) for the period before taxes9903 | €583,862 | €6.5m | €1.4m | €1.4m | €1.1m | ▼ 19.2% |
| Income taxes67/77 | €107,451 | €109,787 | €308,004 | €304,679 | €282,316 | ▼ 7.3% |
| Taxes670/3 | €107,451 | €109,787 | €308,004 | €348,345 | €282,316 | ▼ 19.0% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €43,665 | - | - |
| Profit (loss) for the period9904 | €476,411 | €6.4m | €1.1m | €1.1m | €833,282 | ▼ 22.6% |
| Profit (loss) for the period to be appropriated9905 | €476,411 | €6.4m | €1.1m | €1.1m | €833,282 | ▼ 22.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26.2m | €41.0m | €40.2m | €35.5m | €53.7m | ▲ 51.5% |
| Fixed assets21/28 | €26.0m | €25.2m | €19.7m | €19.3m | €51.3m | ▲ 166% |
| Tangible fixed assets22/27 | €19.8m | €20.8m | €19.3m | €17.8m | €16.4m | ▼ 8.1% |
| Land and buildings22 | €19.5m | €20.6m | €19.2m | €17.8m | €16.4m | ▼ 7.9% |
| Plant, machinery and equipment23 | €295,325 | €160,771 | €91,120 | €53,129 | €15,138 | ▼ 71.5% |
| Furniture and vehicles24 | €281 | - | - | - | - | - |
| Financial fixed assets28 | €6.2m | €4.4m | €376,756 | €1.4m | €34.9m | ▲ 2,334% |
| Affiliated companies280/1 | €110,250 | €110,250 | €100,000 | €1.1m | €32.6m | ▲ 2,859% |
| Participating interests280 | €110,250 | €110,250 | €100,000 | €1.1m | €13.0m | ▲ 1,082% |
| Amounts receivable281 | - | - | - | - | €19.6m | - |
| Companies linked by participating interests282/3 | €6.1m | €4.2m | €150,000 | €150,000 | €2.2m | ▲ 1,333% |
| Participating interests282 | €2.7m | €212,500 | €150,000 | €150,000 | €2.2m | ▲ 1,333% |
| Amounts receivable283 | €3.4m | €4.0m | - | - | - | - |
| Other financial fixed assets284/8 | €8,822 | €90,389 | €126,756 | €185,519 | €234,525 | ▲ 26.4% |
| Shares284 | €8,732 | €90,299 | €126,756 | €185,519 | €234,525 | ▲ 26.4% |
| Amounts receivable and cash guarantees285/8 | €90 | €90 | - | - | - | - |
| Current assets29/58 | €174,646 | €15.8m | €20.6m | €16.2m | €2.4m | ▼ 85.3% |
| Amounts receivable after more than one year29 | - | - | €10.0m | €7.0m | - | - |
| Other amounts receivable291 | - | - | €10.0m | €7.0m | - | - |
| Amounts receivable within one year40/41 | €170,559 | €15.8m | €6.4m | €5.0m | €750,230 | ▼ 85.0% |
| Trade receivables40 | €88,381 | €231,428 | €258,290 | €366,999 | €171,850 | ▼ 53.2% |
| Other amounts receivable41 | €82,178 | €15.6m | €6.1m | €4.6m | €578,380 | ▼ 87.5% |
| Current investments50/53 | - | - | €4.1m | €4.1m | - | - |
| Other investments51/53 | - | - | €4.1m | €4.1m | - | - |
| Cash at bank and in hand54/58 | - | - | - | - | €1.6m | - |
| Deferred charges and accrued income490/1 | €4,088 | €4,969 | €9,788 | €10,582 | €38,774 | ▲ 266% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26.2m | €41.0m | €40.2m | €35.5m | €53.7m | ▲ 51.5% |
| Equity10/15 | €10.0m | €16.4m | €17.5m | €18.6m | €19.4m | ▲ 4.5% |
| Contributions10/11 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Capital10 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Issued capital100 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Reserves13 | €3.9m | €3.9m | €3.9m | €5.0m | €5.8m | ▲ 16.7% |
| Non-distributable reserves130/1 | €290,198 | €290,198 | €290,198 | €290,198 | €290,198 | = |
| Legal reserve130 | €284,000 | €284,000 | €284,000 | €284,000 | €284,000 | = |
| Reserves not available under the articles1311 | €6,198 | €6,198 | €6,198 | €6,198 | €6,198 | = |
| Tax-exempt reserves132 | €330,473 | €330,473 | €330,473 | €330,473 | €330,473 | = |
| Distributable reserves133 | €3.3m | €3.3m | €3.3m | €4.4m | €5.2m | ▲ 19.0% |
| Profit (loss) carried forward14 | €3.3m | €9.6m | €10.7m | €10.7m | €10.7m | = |
| Amounts payable17/49 | €16.1m | €24.6m | €22.7m | €16.9m | €34.3m | ▲ 103% |
| Amounts payable after more than one year17 | €10.2m | €9.6m | €18.8m | €11.0m | €7.5m | ▼ 32.3% |
| Financial debts170/4 | €10.2m | €9.6m | €18.8m | €11.0m | €7.5m | ▼ 32.3% |
| Credit institutions173 | €10.2m | €9.6m | €8.9m | €8.2m | €7.5m | ▼ 8.8% |
| Other loans174 | - | - | €9.9m | €2.8m | - | - |
| Amounts payable within one year42/48 | €5.9m | €15.0m | €4.0m | €5.1m | €25.4m | ▲ 395% |
| Current portion of amounts payable after more than one year42 | €630,416 | €653,047 | €676,566 | €701,012 | €726,423 | ▲ 3.6% |
| Trade debts44 | €149,383 | €127,026 | €127,113 | €405,528 | €125,096 | ▼ 69.2% |
| Suppliers440/4 | €149,383 | €127,026 | €127,113 | €405,528 | €125,096 | ▼ 69.2% |
| Taxes, remuneration and social security45 | €5,625 | €29,238 | €202,424 | €171,267 | €169,029 | ▼ 1.3% |
| Taxes450/3 | €5,625 | €29,238 | €195,840 | €171,267 | €169,029 | ▼ 1.3% |
| Remuneration and social security454/9 | - | - | €6,584 | - | - | - |
| Other amounts payable47/48 | €5.1m | €14.2m | €2.9m | €3.9m | €24.4m | ▲ 532% |
| Accrued charges and deferred income492/3 | - | - | - | €704,294 | €1.4m | ▲ 98.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €476,411 | €6.4m | €1.1m | €1.1m | €833,282 | ▼ 22.6% |
| + Depreciation and write-downs630 | €1.4m | €1.5m | €1.5m | €1.5m | €1.4m | ▼ 0.7% |
| Operating cash flow (approximation) | €1.9m | €7.8m | €2.6m | €2.5m | €2.3m | ▼ 10.0% |
| Investment in fixed assets (approximation) | - | -€600,032 | €4.0m | -€1.1m | -€33.5m | ▼ 3,064% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity times 5current ratio 5.20
Current ratio from 1.06 to 5.20; short-term debt falls from €15.0m to €4.0m.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €6.4m ▲1,234%
Net result €6.4m, the highest in the series.
31-12
Financial
Liquidity times 36current ratio 1.06
Current ratio from 0.03 to 1.06.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €10mEq €10.0m ▲5%
4 profitable years in a row build equity to €10.0m.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 17 days late
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2012
06-04
State Gazette act
General meeting · Capital increase
Capital · Statutes amendment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
16 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, Brussel · 1 establishment unit since 2008
Ground area
389 m²
Building footprint
181 m²
Volume, LiDAR
2,836 m³
Parcel 21803C0393/00C000, Brussels · tallest building 18.4 m, ±6 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Van Orleystraat 15, 1000 Brussel
since 20082.173.769.802
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C0393/00C000 | Brussels | 389 m² | 1 · 181 m² | 18.4 m · 6 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.
Structure & network
Owners and holdings
1 owner · 3 holdingsChain of control
- RLST
- FOREMOST IMMO
Highest known parent: RLST. The sources do not say who stands above it.
Owners 1
- RLSTparentSourceaccounts RLST 2025100%
Holdings 3
-
100%
-
50%
-
25%
According to the 2025 annual accounts of FOREMOST IMMO and those 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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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 602 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-08-2004
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0866848319
Also
9925:BE0866848319
Registered
31-08-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.