FOREST ONE
InactiveInactive since 12-06-2026; last annual accounts for fiscal year 2024.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
57 d late
2022
70 d late
2021
3 d early
2020
1 d early
2019
89 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 30 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€5.3m▼ 89.5%
2023 · €50.5m
Working capital
€267.6m▲ 0.2%
2023 · €267.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€862,335▼ 41.6%-€754,803▲ 12.5%-€2.4m▼ 217%-€783,010▲ 67.3%-€1.4m▼ 79.6%
Net result€55.4m▲ 2,173%€66.5m▲ 20.0%€677,432▼ 99.0%€50.5m▲ 7,362%€5.3m▼ 89.5%
Equity€183.7m▲ 43.2%€250.2m▲ 36.2%€250.9m▲ 0.3%€301.5m▲ 20.1%€306.8m▲ 1.8%
Total assets€194.5m▲ 38.0%€255.3m▲ 31.2%€256.0m▲ 0.3%€306.9m▲ 19.9%€307.5m▲ 0.2%
Debt€10.8m▼ 14.2%€5.1m▼ 53.1%€5.1m▲ 0.6%€5.4m▲ 6.2%€717,905▼ 86.7%
Working capital€116.7m▲ 207%€201.6m▲ 72.7%€194.6m▼ 3.5%€267.1m▲ 37.2%€267.6m▲ 0.2%
Why a figure moved sharply
- 2024 Net result -90% on 2023. Cause not known from the registers.
- 2023 Net result +7,362% on 2022. Cause not known from the registers.
- 2022 Net result -99% on 2021. Cause not known from the registers.
- 2020 Net result +2,173% on 2019. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.4m in 2024 against €783,010 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €307.5m
Fixed assets
€39.2m ▼ 0.6%
Current assets
€268.3m ▲ 0.3%
Equity and liabilities €307.5m
Equity
€306.8m ▲ 1.8%
Debt
€717,905 ▼ 86.7%
Debt's share of the balance-sheet total falls from 1.8% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1.0m▼
2023 · -€425,794
Cash flow
€5.7m▼
2023 · €50.9m
Debt to equity
0.00▼
2023 · 0.02
ROE
1.7%▼
2023 · 16.8%
ROA
1.7%▼
2023 · 16.5%
Interest coverage
-0.95▼
2023 · -0.63
Debt ≤ 1 year
€715,705▲
2023 · €392,851
Debt > 1 year
€2,200▼
2023 · €5.0m
Income taxes
€383,234▲
2023 · €325,411
A ratio outside any meaningful range has been withheld (balance sheet total €307.5m, equity €306.8m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €252,780 | €351,255 | €357,216 | €358,458 | ▲ 0.3% |
| Other operating charges640/8 | - | €4,570 | €4,236 | €59,245 | €137,751 | ▲ 133% |
| Non-recurring operating charges66A | - | - | €1.9m | - | - | - |
| Gross operating margin9900 | -€858,164 | -€497,454 | -€89,434 | -€366,549 | -€910,238 | ▼ 148% |
| Operating profit (loss)9901 | -€862,335 | -€754,803 | -€2.4m | -€783,010 | -€1.4m | ▼ 79.6% |
| Financial income75/76B | - | €67.8m | €4.1m | €52.3m | €8.2m | ▼ 84.3% |
| Recurring financial income75 | €3.5m | €106,188 | €4.1m | €52.3m | €8.2m | ▼ 84.3% |
| Non-recurring financial income76B | - | €67.7m | - | - | - | - |
| Financial charges65/66B | - | €628,089 | €967,702 | €680,626 | €1.1m | ▲ 66.4% |
| Recurring financial charges65 | €169,110 | €128,089 | €777,700 | €680,626 | €1.1m | ▲ 62.7% |
| Non-recurring financial charges66B | - | €500,000 | €190,002 | - | €24,618 | - |
| Profit (loss) for the period before taxes9903 | €55.2m | €66.4m | €744,089 | €50.9m | €5.7m | ▼ 88.8% |
| Income taxes67/77 | -€175,060 | -€71,436 | €66,656 | €325,411 | €383,234 | ▲ 17.8% |
| Profit (loss) for the period9904 | €55.4m | €66.5m | €677,432 | €50.5m | €5.3m | ▼ 89.5% |
| Profit (loss) for the period to be appropriated9905 | €55.4m | €66.5m | €677,432 | €50.5m | €5.3m | ▼ 89.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €194.5m | €255.3m | €256.0m | €306.9m | €307.5m | ▲ 0.2% |
| Fixed assets21/28 | €77.4m | €53.6m | €61.3m | €39.4m | €39.2m | ▼ 0.6% |
| Tangible fixed assets22/27 | €11.3m | €12.2m | €12.1m | €11.7m | €11.4m | ▼ 2.7% |
| Other tangible fixed assets26 | - | €12.2m | €12.1m | €11.7m | €11.4m | ▼ 2.7% |
| Financial fixed assets28 | €66.1m | €41.4m | €49.2m | €27.7m | €27.7m | ▲ 0.3% |
| Current assets29/58 | €117.1m | €201.7m | €194.7m | €267.5m | €268.3m | ▲ 0.3% |
| Amounts receivable after more than one year29 | - | €21.2m | €21.3m | €20.1m | €21.0m | ▲ 4.4% |
| Other amounts receivable291 | - | €21.2m | €21.3m | €20.1m | €21.0m | ▲ 4.4% |
| Amounts receivable within one year40/41 | €19.6m | €38.2m | €41.0m | €46.4m | €48.6m | ▲ 4.6% |
| Trade receivables40 | - | - | - | €5,205 | €15,436 | ▲ 197% |
| Other amounts receivable41 | - | €38.2m | €41.0m | €46.4m | €48.6m | ▲ 4.6% |
| Current investments50/53 | €425,516 | €70.5m | €122.1m | €183.7m | €195.7m | ▲ 6.5% |
| Cash at bank and in hand54/58 | €75.9m | €71.7m | €10.1m | €16.9m | €2.7m | ▼ 84.0% |
| Deferred charges and accrued income490/1 | - | €8,865 | €180,935 | €328,643 | €344,523 | ▲ 4.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €194.5m | €255.3m | €256.0m | €306.9m | €307.5m | ▲ 0.2% |
| Equity10/15 | €183.7m | €250.2m | €250.9m | €301.5m | €306.8m | ▲ 1.8% |
| Contributions10/11 | €118.6m | €118.6m | €118.6m | €118.6m | €118.6m | = |
| Capital10 | - | €118.6m | - | - | - | - |
| Issued capital100 | - | €118.6m | - | - | - | - |
| Revaluation surpluses12 | - | €145,095 | €145,095 | €145,095 | €145,095 | = |
| Reserves13 | €3.3m | €6.6m | €6.6m | €6.6m | €6.6m | = |
| Non-distributable reserves130/1 | - | €6.6m | €6.6m | €6.6m | €6.6m | = |
| Legal reserve130 | - | €6.6m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €6.6m | €6.6m | €6.6m | = |
| Profit (loss) carried forward14 | €61.7m | €124.9m | €125.6m | €176.1m | €181.4m | ▲ 3.0% |
| Amounts payable17/49 | €10.8m | €5.1m | €5.1m | €5.4m | €717,905 | ▼ 86.7% |
| Amounts payable after more than one year17 | €10.3m | €5.0m | €5.0m | €5.0m | €2,200 | ▼ 100.0% |
| Financial debts170/4 | - | €5.0m | €5.0m | €5.0m | - | - |
| Other amounts payable178/9 | - | - | - | - | €2,200 | - |
| Amounts payable within one year42/48 | €422,259 | €66,902 | €66,169 | €392,851 | €715,705 | ▲ 82.2% |
| Trade debts44 | €422,259 | €65,903 | €5,794 | €7,976 | €6,946 | ▼ 12.9% |
| Suppliers440/4 | - | €65,903 | €5,794 | €7,976 | €6,946 | ▼ 12.9% |
| Taxes, remuneration and social security45 | - | - | €60,375 | €384,875 | €708,759 | ▲ 84.2% |
| Taxes450/3 | - | - | €60,375 | €384,875 | €708,759 | ▲ 84.2% |
| Other amounts payable47/48 | - | €999 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €30,490 | €17,746 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55.4m | €66.5m | €677,432 | €50.5m | €5.3m | ▼ 89.5% |
| + Depreciation and write-downs630 | - | €252,780 | €351,255 | €357,216 | €358,458 | ▲ 0.3% |
| Operating cash flow (approximation) | €55.4m | €66.7m | €1.0m | €50.9m | €5.7m | ▼ 88.9% |
| Investment in fixed assets (approximation) | - | €23.5m | -€8.0m | €21.6m | -€119,098 | ▼ 101% |
| Change in cash | - | -€4.2m | -€61.7m | €6.8m | -€14.2m | ▼ 308% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 57 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 70 days late
2022
31-12
Financial
Weakest financial yearnet €677,432 ▼99%
Net result drops to €677,432, the lowest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €66.5m ▲20%
Net result €66.5m, the highest in the series.
31-12
Financial
Liquidity times 11current ratio 3014.26
Current ratio from 277.43 to 3014.26; short-term debt falls from €422,259 to €66,902.
31-12
Financial
Equity above €250mEq €250.2m ▲36.2%
4 profitable years in a row build equity to €250.2m.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 89 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 14 days late
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 8 days late
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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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Structure & network
Owners and holdings
12 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 12
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100%
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100%
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100%
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99.99%
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99.99%
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99.98%
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99.98%
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99.98%
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97%
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100%
Show 2 more holdings
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15%
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12%
According to the 2024 annual accounts of FOREST ONE 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.
Recognitions · licences · registrations
Legal Entity Identifier
875500CQD26FJ5UB9U70
Identification & contact
Identification
Legal formForeign entity
Founded15-05-2007
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.