FORESTIA
ActiveSummary
FORESTIA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €293,495. Equity is growing by ~15% per year across the filed fiscal years. Its solvency ranks better than 27% of 53 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+4
Solvency55▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity short (current ratio 0.91 against 0.91 in 2024; short-term debt: 23.7% and cash: 12.8% of total assets), and 69.6% of the assets are financed with debt.
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Signals
Seven 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 91
Relative position
BE, all sectors
reference
Libraries, archives, museums and other cultural activities (NACE 91)
about 68% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
30.4%
Return on assets
6.4%
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 30-10-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
4 d late
2023
38 d early
2022
5 d early
2021
5 d early
2020
5 d early
2019
49 d early
← 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 14 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 30% 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 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 company by total assets in the province of Liège, Libraries, archives and museums sector#3 employer in Theux#8 fastest grower in the province of Liège, Arts, sports and recreation sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€293,495▲ 63.6%
2024 · €179,373
Working capital
-€98,451▲ 0.1%
2024 · -€98,583
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 91, Libraries, archives, museums and other cultural 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€642,666▲ 263%€711,466▲ 10.7%€217,424▼ 69.4%€229,182▲ 5.4%€396,088▲ 72.8%
Net result€556,204above the sector's middle half▲ 211%€635,971above the sector's middle half▲ 14.3%€222,271above the sector's middle half▼ 65.1%€179,373above the sector's middle half▼ 19.3%€293,495above the sector's middle half▲ 63.6%
Equity€846,673within the sector's middle half▲ 111%€1.2mwithin the sector's middle half▲ 38.5%€1.4mabove the sector's middle half▲ 18.1%€1.3mwithin the sector's middle half▼ 5.7%€1.4mabove the sector's middle half▲ 6.7%
Total assets€2.0mwithin the sector's middle half▲ 46.3%€2.4mabove the sector's middle half▲ 23.6%€5.0mabove the sector's middle half▲ 106%€4.7mabove the sector's middle half▼ 5.1%€4.6mabove the sector's middle half▼ 3.2%
Debt€1.1m▲ 18.3%€1.2m▲ 12.3%€3.6m▲ 189%€3.4m▼ 4.9%€3.2m▼ 7.0%
Working capital-€154,713-€492,211▼ 218%-€30,107▲ 93.9%-€98,583▼ 227%-€98,451▲ 0.1%
Solvency43.2%within the sector's middle half▲ 13.2pp48.4%within the sector's middle half▲ 5.2pp27.7%within the sector's middle half▼ 20.7pp27.6%below the sector's middle half▼ 0.2pp30.4%within the sector's middle half▲ 2.8pp
Staff (FTE)31.9above the sector's middle half▼ 4.8%36.2above the sector's middle half▲ 13.5%42.5above the sector's middle half▲ 17.4%44above the sector's middle half▲ 3.5%44above the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 91, Libraries, archives, museums and other cultural 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 73% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.6m
Fixed assets
€3.6m ▼ 2.9%
Current assets
€989,224 ▼ 4.2%
Equity and liabilities €4.6m
Equity
€1.4m ▲ 6.7%
Debt
€3.2m ▼ 7.0%
Debt's share of the balance-sheet total falls from 72.4% to 69.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€831,007▲
2024 · €641,232
Cash flow
€728,414▲
2024 · €591,423
Current ratio
0.91▼
2024 · 0.91
Quick ratio
0.73▼
2024 · 0.75
Debt to equity
2.29▼
2024 · 2.62
ROE
21.1%▲
2024 · 13.7%
ROA
6.4%▲
2024 · 3.8%
Interest coverage
13.35▲
2024 · 11.06
Debt ≤ 1 year
€1.1m▼
2024 · €1.1m
Debt > 1 year
€2.1m▼
2024 · €2.3m
Income taxes
€46,746
Staff costs
€1.4m▼
2024 · €1.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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 20,082 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2,500 | - | €37,034 | - |
| Remuneration, social security and pensions62 | - | €972,826 | €1.2m | €1.5m | €1.4m | ▼ 5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €287,605 | €238,498 | €321,997 | €412,050 | €434,919 | ▲ 5.5% |
| Other operating charges640/8 | - | €15,517 | €11,844 | €19,511 | €12,635 | ▼ 35.2% |
| Non-recurring operating charges66A | - | €2,780 | - | €80 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.6m | €1.9m | €1.8m | €2.1m | €2.2m | ▲ 4.6% |
| Operating profit (loss)9901 | €642,666 | €711,466 | €217,424 | €229,182 | €396,088 | ▲ 72.8% |
| Financial income75/76B | - | €27,248 | €18,244 | €8,187 | €6,423 | ▼ 21.5% |
| Recurring financial income75 | €17,564 | €27,248 | €18,244 | €8,187 | €6,423 | ▼ 21.5% |
| Financial charges65/66B | - | €14,513 | €15,330 | €57,996 | €62,270 | ▲ 7.4% |
| Recurring financial charges65 | €13,887 | €14,513 | €15,330 | €57,996 | €62,270 | ▲ 7.4% |
| Profit (loss) for the period before taxes9903 | €646,343 | €724,201 | €220,338 | €179,373 | €340,240 | ▲ 89.7% |
| Transfer from deferred taxes780 | - | €300 | €2,692 | - | - | - |
| Income taxes67/77 | €87,147 | €88,529 | €759 | - | €46,746 | - |
| Profit (loss) for the period9904 | €556,204 | €635,971 | €222,271 | €179,373 | €293,495 | ▲ 63.6% |
| Transfer from tax-exempt reserves789 | - | €900 | €8,075 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €547,229 | €636,871 | €230,346 | €179,373 | €293,495 | ▲ 63.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.4m | €5.0m | €4.7m | €4.6m | ▼ 3.2% |
| Fixed assets21/28 | €1.5m | €2.1m | €3.8m | €3.7m | €3.6m | ▼ 2.9% |
| Intangible fixed assets21 | - | €2,870 | €2,543 | €22,613 | €39,066 | ▲ 72.8% |
| Tangible fixed assets22/27 | €1.5m | €2.1m | €3.8m | €3.7m | €3.6m | ▼ 3.4% |
| Land and buildings22 | - | €1.2m | €3.7m | €3.5m | €3.3m | ▼ 5.8% |
| Plant, machinery and equipment23 | - | €30,899 | €47,421 | €42,263 | €144,282 | ▲ 241% |
| Furniture and vehicles24 | - | €48,338 | €62,460 | €44,938 | €31,019 | ▼ 31.0% |
| Leasing and similar rights25 | - | - | - | €68,139 | €61,084 | ▼ 10.4% |
| Assets under construction and advance payments27 | - | €745,791 | - | - | - | - |
| Financial fixed assets28 | €230 | €180 | €180 | €1,680 | €1,680 | = |
| Current assets29/58 | €479,046 | €362,024 | €1.2m | €1.0m | €989,224 | ▼ 4.2% |
| Stocks and contracts in progress3 | €133,926 | €155,932 | €172,426 | €186,291 | €197,916 | ▲ 6.2% |
| Stocks30/36 | - | €155,932 | €172,426 | €186,291 | €197,916 | ▲ 6.2% |
| Amounts receivable within one year40/41 | €77,314 | €63,012 | €397,299 | €172,270 | €115,994 | ▼ 32.7% |
| Trade receivables40 | - | €40,871 | €262,205 | €97,503 | €63,791 | ▼ 34.6% |
| Other amounts receivable41 | - | €22,141 | €135,094 | €74,767 | €52,202 | ▼ 30.2% |
| Cash at bank and in hand54/58 | €240,132 | €129,727 | €559,121 | €576,556 | €587,184 | ▲ 1.8% |
| Deferred charges and accrued income490/1 | - | €13,353 | €23,512 | €97,773 | €88,130 | ▼ 9.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.4m | €5.0m | €4.7m | €4.6m | ▼ 3.2% |
| Equity10/15 | €846,673 | €1.2m | €1.4m | €1.3m | €1.4m | ▲ 6.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €15,175 | €14,275 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | €8,075 | - | - | - | - |
| Profit (loss) carried forward14 | €721,220 | €1.1m | €1.3m | €1.2m | €1.3m | ▲ 7.7% |
| Investment grants15 | - | €37,862 | €27,299 | €19,572 | €13,588 | ▼ 30.6% |
| Provisions and deferred taxes16 | €2,992 | €2,692 | - | - | - | - |
| Deferred taxes168 | - | €2,692 | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.2m | €3.6m | €3.4m | €3.2m | ▼ 7.0% |
| Amounts payable after more than one year17 | €466,192 | €377,984 | €2.4m | €2.3m | €2.1m | ▼ 8.5% |
| Financial debts170/4 | - | €377,984 | €2.4m | €2.3m | €2.1m | ▼ 8.5% |
| Amounts payable within one year42/48 | €633,758 | €854,235 | €1.2m | €1.1m | €1.1m | ▼ 3.9% |
| Current portion of amounts payable after more than one year42 | - | €87,997 | €205,460 | €266,547 | €264,838 | ▼ 0.6% |
| Financial debts43 | - | €58,393 | - | - | - | - |
| Credit institutions430/8 | - | €58,393 | - | - | - | - |
| Trade debts44 | €293,978 | €261,091 | €688,634 | €286,985 | €198,959 | ▼ 30.7% |
| Suppliers440/4 | - | €261,091 | €688,634 | €286,985 | €198,959 | ▼ 30.7% |
| Advances received on contracts in progress46 | - | - | - | €102,000 | €98,653 | ▼ 3.3% |
| Taxes, remuneration and social security45 | - | €127,024 | €140,774 | €221,666 | €246,891 | ▲ 11.4% |
| Taxes450/3 | - | €22,291 | €6,276 | €15,918 | €3,497 | ▼ 78.0% |
| Remuneration and social security454/9 | - | €104,733 | €134,498 | €205,748 | €243,395 | ▲ 18.3% |
| Other amounts payable47/48 | - | €319,730 | €147,596 | €254,276 | €278,334 | ▲ 9.5% |
| Accrued charges and deferred income492/3 | - | €13,183 | €7,828 | €8,231 | €8,218 | ▼ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €556,204 | €635,971 | €222,271 | €179,373 | €293,495 | ▲ 63.6% |
| + Depreciation and write-downs630 | €287,605 | €238,498 | €321,997 | €412,050 | €434,919 | ▲ 5.5% |
| Operating cash flow (approximation) | €843,809 | €874,469 | €544,268 | €591,423 | €728,414 | ▲ 23.2% |
| Investment in fixed assets (approximation) | - | -€817,435 | -€2.1m | -€275,933 | -€326,943 | ▼ 18.5% |
| Change in cash | - | -€110,405 | €429,394 | €17,435 | €10,628 | ▼ 39.0% |
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
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
04-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2023
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Highest result since 2019net €635,971 ▲14.3%
Operating result €711,466, net result €635,971, both a record.
31-03
Financial
Equity above €1mEq €1.2m ▲38.5%
4 profitable years in a row build equity to €1.2m.
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Equity above €500,000Eq €846,673 ▲111%
3 profitable years in a row build equity to €846,673.
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Weakest financial yearnet €178,656 ▼22.9%
Net result drops to €178,656, the lowest in the series; recovery starts the following year.
2019
12-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Theux · 2 establishment units since 2002
Ground area
6,953 m²
Building footprint
989 m²
Volume, LiDAR
5,213 m³
2 parcels, Wallonia · tallest building 14.1 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
FORESTIA
since 20022.099.115.137
FORESTIA
since 20252.373.839.626
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63076D1541/00M000 | Wallonia | 5,334 m² | 1 · 267 m² | 9.4 m · 2 fl. |
| 63044D1075/00S005 | Wallonia | 1,619 m² | 1 · 722 m² | 14.1 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.
Structure & network
Owners and holdings
1 ownerChain of control
- FORESTCO
- FORESTIA
Highest known parent: FORESTCO. The sources do not say who stands above it.
Owners 1
- FORESTCOparentSourceaccounts FORESTCO 202499%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
Food safety, FASFC
1 siteTheux2.099.115.137
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Of 167 companies in sector 91420 we hold annual accounts for 89. 67 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
Founded28-02-2002
Fiscal year end31-03
Activities, NACEBEL 2025
91420Libraries, archives, museums and other cultural activities
93210Sports, amusement and recreation activities
56112Limited-service restaurants, excluding mobile food services
93299Other amusement and recreation activities
Contact
Website
www.forestia.be
E-mail
direction@forestia.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476915148
Registered
03-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.