FORESTERRA
ActiveSummary
FORESTERRA has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €48,541 and a net result of €46,041. Equity is growing by ~11.5% per year across the filed fiscal years. Its solvency ranks better than 85% of 12819 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 4.25 against 2.94 in 2024; short-term debt: 13.5% and cash: 21% of total assets), and 13.7% 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
Four 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
86.3%
Return on assets
81.9%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-10-2025, 17 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
17 d early
2024
4 d early
2023
14 d early
2022
6 d early
2021
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check 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 What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€48,541▼ 34.5%
2024 · €74,087
Total assets
€56,233▼ 45.1%
2024 · €102,479
Net result
€46,041▲ 12.9%
2024 · €40,773
Working capital
€24,575▼ 55.4%
2024 · €55,122
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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
Operating result€40,012-€29,249▼ 26.9%€47,689▲ 63.0%€52,616▲ 10.3%€63,212▲ 20.1%
Net result€31,132within the sector's middle half-€22,210within the sector's middle half▼ 28.7%€36,848within the sector's middle half▲ 65.9%€40,773within the sector's middle half▲ 10.7%€46,041within the sector's middle half▲ 12.9%
Equity€33,632below the sector's middle half-€55,842within the sector's middle half▲ 66.0%€83,315within the sector's middle half▲ 49.2%€74,087within the sector's middle half▼ 11.1%€48,541within the sector's middle half▼ 34.5%
Total assets€60,036below the sector's middle half-€85,984below the sector's middle half▲ 43.2%€110,987within the sector's middle half▲ 29.1%€102,479within the sector's middle half▼ 7.7%€56,233below the sector's middle half▼ 45.1%
Debt€26,404-€30,142▲ 14.2%€27,673▼ 8.2%€28,392▲ 2.6%€7,692▼ 72.9%
Working capital€14,126within the sector's middle half-€40,815within the sector's middle half▲ 189%€70,634within the sector's middle half▲ 73.1%€55,122within the sector's middle half▼ 22.0%€24,575within the sector's middle half▼ 55.4%
Solvency56.0%within the sector's middle half-64.9%within the sector's middle half▲ 8.9pp75.1%within the sector's middle half▲ 10.1pp72.3%within the sector's middle half▼ 2.8pp86.3%above the sector's middle half▲ 14.0pp
Current ratio1.95within the sector's middle half-3.36within the sector's middle half▲ 1.414.47within the sector's middle half▲ 1.102.94within the sector's middle half▼ 1.524.25within the sector's middle half▲ 1.30
Return on assets (ROA)51.9%above the sector's middle half-25.8%within the sector's middle half▼ 26.0pp33.2%above the sector's middle half▲ 7.4pp39.8%above the sector's middle half▲ 6.6pp81.9%above the sector's middle half▲ 42.1pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting 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
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 20% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56,233
Fixed assets
€24,086 ▲ 27.0%
Current assets
€32,147 ▼ 61.5%
Equity and liabilities €56,233
Equity
€48,541 ▼ 34.5%
Debt
€7,692 ▼ 72.9%
Debt's share of the balance-sheet total falls from 27.7% to 13.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€72,326▲
2024 · €60,204
Cash flow
€55,155▲
2024 · €48,361
Debt to equity
0.16▼
2024 · 0.38
ROE
94.8%▲
2024 · 55.0%
Interest coverage
343.34▼
2024 · 491.22
Debt ≤ 1 year
€7,572▼
2024 · €28,392
Income taxes
€17,361▲
2024 · €12,011
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,857 | €7,624 | €7,909 | €7,588 | €9,114 | ▲ 20.1% |
| Other operating charges640/8 | - | €844 | €677 | €946 | €933 | ▼ 1.5% |
| Gross operating margin9900 | €49,272 | €37,717 | €56,276 | €61,151 | €73,258 | ▲ 19.8% |
| Operating profit (loss)9901 | €40,012 | €29,249 | €47,689 | €52,616 | €63,212 | ▲ 20.1% |
| Financial income75/76B | - | €0 | - | €289 | €400 | ▲ 38.4% |
| Recurring financial income75 | €4 | €0 | - | €289 | €400 | ▲ 38.4% |
| Financial charges65/66B | - | €156 | €159 | €123 | €211 | ▲ 71.9% |
| Recurring financial charges65 | €147 | €156 | €159 | €123 | €211 | ▲ 71.9% |
| Profit (loss) for the period before taxes9903 | €39,869 | €29,094 | €47,530 | €52,783 | €63,402 | ▲ 20.1% |
| Income taxes67/77 | €8,737 | €6,883 | €10,683 | €12,011 | €17,361 | ▲ 44.5% |
| Profit (loss) for the period9904 | €31,132 | €22,210 | €36,848 | €40,773 | €46,041 | ▲ 12.9% |
| Profit (loss) for the period to be appropriated9905 | €31,132 | €22,210 | €36,848 | €40,773 | €46,041 | ▲ 12.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €60,036 | €85,984 | €110,987 | €102,479 | €56,233 | ▼ 45.1% |
| Fixed assets21/28 | €31,052 | €27,878 | €19,969 | €18,965 | €24,086 | ▲ 27.0% |
| Intangible fixed assets21 | €884 | €784 | €684 | €584 | €484 | ▼ 17.1% |
| Tangible fixed assets22/27 | €30,168 | €27,094 | €19,285 | €18,382 | €23,603 | ▲ 28.4% |
| Land and buildings22 | - | €4,892 | €4,345 | €10,368 | €17,641 | ▲ 70.1% |
| Furniture and vehicles24 | - | €22,202 | €14,940 | €8,013 | €5,962 | ▼ 25.6% |
| Current assets29/58 | €28,984 | €58,106 | €91,018 | €83,514 | €32,147 | ▼ 61.5% |
| Amounts receivable within one year40/41 | €14,859 | €16,876 | €22,330 | €29,286 | €16,835 | ▼ 42.5% |
| Trade receivables40 | - | €15,153 | €14,012 | €21,210 | €9,075 | ▼ 57.2% |
| Other amounts receivable41 | - | €1,723 | €8,317 | €8,076 | €7,760 | ▼ 3.9% |
| Cash at bank and in hand54/58 | €12,164 | €38,191 | €64,284 | €49,828 | €11,822 | ▼ 76.3% |
| Deferred charges and accrued income490/1 | - | €3,040 | €4,405 | €4,400 | €3,490 | ▼ 20.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €60,036 | €85,984 | €110,987 | €102,479 | €56,233 | ▼ 45.1% |
| Equity10/15 | €33,632 | €55,842 | €83,315 | €74,087 | €48,541 | ▼ 34.5% |
| Contributions10/11 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €31,132 | €53,342 | €80,815 | €71,587 | €46,041 | ▼ 35.7% |
| Distributable reserves133 | - | €53,342 | €80,815 | €71,587 | €46,041 | ▼ 35.7% |
| Amounts payable17/49 | €26,404 | €30,142 | €27,673 | €28,392 | €7,692 | ▼ 72.9% |
| Amounts payable after more than one year17 | €11,546 | €6,028 | €465 | - | - | - |
| Financial debts170/4 | - | €6,028 | €465 | - | - | - |
| Amounts payable within one year42/48 | €14,858 | €17,291 | €20,384 | €28,392 | €7,572 | ▼ 73.3% |
| Current portion of amounts payable after more than one year42 | - | €5,518 | €5,562 | €465 | - | - |
| Financial debts43 | - | €11 | €66 | €450 | €25 | ▼ 94.4% |
| Credit institutions430/8 | - | €11 | €66 | €450 | €25 | ▼ 94.4% |
| Trade debts44 | €351 | €2,227 | €964 | €14,894 | €520 | ▼ 96.5% |
| Suppliers440/4 | - | €2,227 | €964 | €14,894 | €520 | ▼ 96.5% |
| Taxes, remuneration and social security45 | - | €9,535 | €12,654 | €11,244 | €743 | ▼ 93.4% |
| Taxes450/3 | - | €6,907 | €9,826 | €8,416 | €743 | ▼ 91.2% |
| Remuneration and social security454/9 | - | €2,628 | €2,828 | €2,828 | - | - |
| Other amounts payable47/48 | - | - | €1,137 | €1,338 | €6,284 | ▲ 370% |
| Accrued charges and deferred income492/3 | - | €6,823 | €6,823 | - | €120 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,132 | €22,210 | €36,848 | €40,773 | €46,041 | ▲ 12.9% |
| + Depreciation and write-downs630 | €7,857 | €7,624 | €7,909 | €7,588 | €9,114 | ▲ 20.1% |
| Operating cash flow (approximation) | €38,989 | €29,834 | €44,757 | €48,361 | €55,155 | ▲ 14.0% |
| Investment in fixed assets (approximation) | - | -€4,450 | €0 | -€6,585 | -€14,235 | ▼ 116% |
| Change in cash | - | €26,027 | €26,094 | -€14,456 | -€38,006 | ▼ 163% |
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
2025
14-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Highest result since 2021net €46,041 ▲12.9%
Operating result €63,212, net result €46,041, both a record.
2024
27-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
17-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Weakest financial yearnet €22,210 ▼28.7%
Net result drops to €22,210, the lowest in the series; recovery starts the following year.
2021
15-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Kortrijk · 1 establishment unit since 2020
Ground area
868 m²
Building footprint
154 m²
Volume, LiDAR
746 m³
Parcel 34033B0473/00V000, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FORESTERRA
since 20202.300.249.387
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34033B0473/00V000 | Flanders | 868 m² | 1 · 154 m² | 10.4 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 381 EUR awarded · 381 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 87 EUR | 87 EUR |
| 2024 | 1 | 72 EUR | 72 EUR |
| 2023 | 1 | 59 EUR | 59 EUR |
| 2022 | 1 | 163 EUR | 163 EUR |
Similar companies · same sector, comparable size
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Lummen · Eq €48,547
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ELLINI
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ADVOCAAT EVERT VERVAET
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,061. 7,245 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
Founded30-01-2020
Fiscal year end31-03
Activities, NACEBEL 2025
69101Activities of lawyers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0742728802
Also
9925:BE0742728802
Registered
31-10-2023
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.