FOREST SPA
ActiveSummary
The computed 12-month bankruptcy probability of FOREST SPA is 4.4% (elevated). The 2025 annual accounts show equity of €29,310 and a net result of €25,777. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 18537 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+1
Solvency36▲+9
Growth78=
Track record94
Bankruptcy probability, 12 months
4.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.08 against 0.95 in 2024; short-term debt: 89.3% and cash: 83.5% of total assets), and 89.3% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
1 d early
2024
31 d early
2023
on the day
2022
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 8 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€29,310▲ 730%
2024 · €3,533
Total assets
€274,199▲ 27.0%
2024 · €215,929
Net result
€25,777▲ 32.5%
2024 · €19,450
Working capital
€20,026
2024 · -€11,400
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
Line2022202320242025
Operating result-€600--€18,539▼ 2,990%€19,526€38,810▲ 98.8%
Net result-€647--€18,769▼ 2,799%€19,450€25,777▲ 32.5%
Equity€2,853--€15,917€3,533€29,310▲ 730%
Total assets€139,348-€146,077▲ 4.8%€215,929▲ 47.8%€274,199▲ 27.0%
Debt€136,495-€161,994▲ 18.7%€212,396▲ 31.1%€244,888▲ 15.3%
Working capital€21,259-€13,893▼ 34.7%-€11,400€20,026
Staff (FTE)0.7
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 99% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €273,834
Fixed assets
€8,919 ▼ 37.2%
Current assets
€264,914 ▲ 31.8%
Equity and liabilities €274,199
Equity
€29,310 ▲ 730%
Debt
€244,888 ▲ 15.3%
Debt's share of the balance-sheet total falls from 98.4% to 89.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€41,542▲
2024 · €22,625
Cash flow
€28,509▲
2024 · €22,548
Current ratio
1.08▲
2024 · 0.95
Debt to equity
8.35▼
2024 · 60.12
ROE
87.9%▼
2024 · 550.5%
ROA
9.4%▲
2024 · 9.0%
Interest coverage
400.52▲
2024 · 342.02
Debt ≤ 1 year
€244,888▲
2024 · €212,396
Income taxes
€12,929▲
2024 · €10
Staff costs
€17,306
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.4% 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 7,976 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €36,100 | - |
| Remuneration, social security and pensions62 | - | - | - | €17,306 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €435 | €711 | €3,099 | €2,732 | ▼ 11.8% |
| Other operating charges640/8 | €348 | €378 | €390 | €387 | ▼ 0.7% |
| Gross operating margin9900 | €183 | -€17,450 | €23,015 | €59,235 | ▲ 157% |
| Operating profit (loss)9901 | -€600 | -€18,539 | €19,526 | €38,810 | ▲ 98.8% |
| Financial charges65/66B | €48 | €231 | €66 | €104 | ▲ 56.8% |
| Recurring financial charges65 | €48 | €43 | €66 | €104 | ▲ 56.8% |
| Non-recurring financial charges66B | - | €188 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€647 | -€18,769 | €19,460 | €38,706 | ▲ 98.9% |
| Income taxes67/77 | - | - | €10 | €12,929 | ▲ 129,186% |
| Profit (loss) for the period9904 | -€647 | -€18,769 | €19,450 | €25,777 | ▲ 32.5% |
| Profit (loss) for the period to be appropriated9905 | -€647 | -€18,769 | €19,450 | €25,777 | ▲ 32.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €139,348 | €146,077 | €215,929 | €274,199 | ▲ 27.0% |
| Formation expenses20 | €1,456 | €1,092 | €728 | €365 | ▼ 49.9% |
| Fixed assets21/28 | €1,638 | €1,599 | €14,205 | €8,919 | ▼ 37.2% |
| Tangible fixed assets22/27 | €1,638 | €1,599 | €14,205 | €8,919 | ▼ 37.2% |
| Plant, machinery and equipment23 | €1,638 | €1,296 | €7,095 | €3,491 | ▼ 50.8% |
| Furniture and vehicles24 | - | €303 | €7,110 | €5,428 | ▼ 23.7% |
| Current assets29/58 | €136,254 | €143,387 | €200,996 | €264,914 | ▲ 31.8% |
| Amounts receivable within one year40/41 | €1,860 | €6,268 | €3,851 | €34,889 | ▲ 806% |
| Trade receivables40 | €1,860 | €6,265 | €3,848 | €34,852 | ▲ 806% |
| Other amounts receivable41 | - | €3 | €3 | €38 | ▲ 1,085% |
| Cash at bank and in hand54/58 | €134,395 | €137,118 | €197,145 | €228,979 | ▲ 16.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,046 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €139,348 | €146,077 | €215,929 | €274,199 | ▲ 27.0% |
| Equity10/15 | €2,853 | -€15,917 | €3,533 | €29,310 | ▲ 730% |
| Contributions10/11 | €3,500 | €3,500 | €3,500 | €3,500 | = |
| Reserves13 | - | - | €33 | €25,810 | ▲ 78,113% |
| Non-distributable reserves130/1 | - | - | €33 | €810 | ▲ 2,356% |
| Reserves not available under the articles1311 | - | - | €33 | €810 | ▲ 2,356% |
| Distributable reserves133 | - | - | - | €25,000 | - |
| Profit (loss) carried forward14 | -€647 | -€19,417 | - | - | - |
| Amounts payable17/49 | €136,495 | €161,994 | €212,396 | €244,888 | ▲ 15.3% |
| Amounts payable within one year42/48 | €114,995 | €129,494 | €212,396 | €244,888 | ▲ 15.3% |
| Trade debts44 | €15,760 | €63,117 | €41,397 | €53,108 | ▲ 28.3% |
| Suppliers440/4 | €15,760 | €63,117 | €41,397 | €53,108 | ▲ 28.3% |
| Advances received on contracts in progress46 | €57,072 | €33,768 | €114,139 | €99,432 | ▼ 12.9% |
| Taxes, remuneration and social security45 | €42,163 | €32,610 | €56,861 | €89,893 | ▲ 58.1% |
| Taxes450/3 | €42,163 | €32,610 | €38,226 | €44,850 | ▲ 17.3% |
| Remuneration and social security454/9 | - | - | €18,634 | €45,043 | ▲ 142% |
| Other amounts payable47/48 | - | - | - | €2,455 | - |
| Accrued charges and deferred income492/3 | €21,500 | €32,500 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€647 | -€18,769 | €19,450 | €25,777 | ▲ 32.5% |
| + Depreciation and write-downs630 | €435 | €711 | €3,099 | €2,732 | ▼ 11.8% |
| Operating cash flow (approximation) | -€212 | -€18,059 | €22,548 | €28,509 | ▲ 26.4% |
| Investment in fixed assets (approximation) | - | -€672 | -€15,705 | €2,554 | ▲ 116% |
| Change in cash | - | €2,724 | €60,026 | €31,835 | ▼ 47.0% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2022net €25,777 ▲32.5%
Operating result €38,810, net result €25,777, both a record.
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €19,450
Net result €19,450 after 2 loss-making years.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet -€18,769
Net result drops to -€18,769, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Sint-Agatha-Berchem · 2 establishment units since 2021
Ground area
7,326 m²
Building footprint
1,924 m²
Volume, LiDAR
14,037 m³
2 parcels, Brussels, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
295
companies at this address
See who is registered here
2 establishment units
Siège administratif
since 20212.325.959.238
Showroom
since 20212.325.961.614
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23772C0379/00L000 | Flanders | 7,036 m² | 1 · 1,631 m² | 9.2 m · 2 fl. |
| 21342B0043/00F003 | Brussels | 290 m² | 1 · 293 m² | 10.6 m · 2 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.
Similar companies · same sector, comparable size
BIDCOM
BE 0473.181.539
Hasselt · Eq €29,298
CARROBUDGET
BE 0680.889.322
Roeselare · Eq €29,286
HCFB Commerce
BE 0791.178.817
Gent · Eq €29,245
Laboratoire Vital Santé
BE 0758.657.784
Anderlecht · Eq €29,380
VERELST
BE 0659.838.441
Beveren-Kruibeke-Zwijndrecht · Eq €29,221
Of 12,956 companies in sector 47120 we hold annual accounts for 2,192. 1,459 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
Founded04-10-2021
Fiscal year end30-06
Activities, NACEBEL 2025
47120Other non-specialised retail sale
47551Retail sale of household furniture
22260Manufacture of rubber and plastic products
31009Manufacture of furniture
47522Retail trade
49410Freight transport by road
Contact
E-mail
info@inhottub.be
Phone
0491932822
E-invoicing
Reachable via Peppol
Peppol ID
0208:0774987339
Also
9925:BE0774987339
Registered
29-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.