FORHED
ActiveFORHED has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €506k and a net result of €50k. Equity is growing by ~15.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 3451 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
94
/ 100
Excellent▼ -6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▼-2
Solvency100=
Growth39▲+2
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity ample (current ratio 38.4), and 2.5% of the assets are financed with debt.
Credit advice for your own amount and term
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 74
Relative position
BE, all sectors
reference
Sector 74
lower
← 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
97.5%
Return on assets
9.7%
Age of the figures
8 mo
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 27-05-2026, 65 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
65 d early
2024
50 d early
2023
29 d early
2022
39 d early
2021
4 d late
2020
16 d early
2019
64 d early
← before the deadline
after the deadline →
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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€184k▲ 0.8%
2024 · €182k
2018: €302k
2019: €236k
2020: €210k
2021: €186k
2022: €195k
2023: €187k
2024: €182k
2018 → 2025
EBIT margin
34.3%▲ 1.4pp
2024 · 32.9%
2018: 41.8%
2019: 36.5%
2020: 41.5%
2021: 36.7%
2022: 36.7%
2023: 33.9%
2024: 32.9%
2018 → 2025
Net result
€50k▼ 2.0%
2024 · €51k
2018: €98k
2019: €62k
2020: €63k
2021: €48k
2022: €51k
2023: €46k
2024: €51k
2018 → 2025
Working capital
€487k▲ 13.6%
2024 · €429k
2018: €120k
2019: €177k
2020: €237k
2021: €293k
2022: €333k
2023: €375k
2024: €429k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€186k-€195k▲ 5.1%€187k▼ 4.0%€182k▼ 2.8%€184k▲ 0.8%
Equity€307k-€358k▲ 16.5%€405k▲ 13.0%€456k▲ 12.7%€506k▲ 11.0%
Operating result€68k-€72k▲ 5.1%€64k▼ 11.2%€60k▼ 5.7%€63k▲ 5.1%
Net result€48k-€51k▲ 5.2%€46k▼ 8.5%€51k▲ 10.2%€50k▼ 2.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €519k
Fixed assets
€19k▼ 29.1%
Current assets
€500k▲ 16.1%
Equity and liabilities €519k
Equity
€506k▲ 11.0%
Debt
€13k▲ 556%
The debt ratio rises from 0.4% to 2.5%: debt grows faster than equity.
Key figures and ratios
EBITDA
€71k▲
2024 · €69k
Cash flow
€59k▼
2024 · €60k
Solvency
97.5%▼
2024 · 99.6%
Current ratio
38.40
Quick ratio
38.40
Debt / equity
0.03▲
2024 · 0.00
ROE
9.9%▼
2024 · 11.2%
ROA
9.7%▼
2024 · 11.2%
Interest coverage
178.86▲
2024 · 176.14
Debt
€13k▲
2024 · €2k
Debt ≤ 1 year
€13k▲
2024 · €2k
Income taxes
€18k▼
2024 · €18k
Staff costs
€2k▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€458k€519k▲
Fixed assets21/28€27k€19k▼
Tangible fixed assets22/27€27k€19k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€9k€4k▼
Other tangible fixed assets26€16k€13k▼
Current assets29/58€431k€500k▲
Amounts receivable within one year40/41€18k€34k▲
Trade receivables40€3k€30k▲
Other amounts receivable41€15k€4k▼
Cash at bank and in hand54/58€412k€465k▲
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€458k€519k▲
Equity10/15€456k€506k▲
Contributions10/11€6k€6k=
Reserves13€450k€500k▲
Non-distributable reserves130/1€450k€500k▲
Reserves not available under the articles1311€2k€2k=
Other1319€448k€498k▲
Amounts payable17/49€2k€13k▲
Amounts payable within one year42/48€2k€13k▲
Trade debts44€2k€13k▲
Suppliers440/4€2k€13k▲
Other amounts payable47/48€299-
Income statement
Code20242025
Turnover70€182k€184k▲
Goods, raw materials, services and sundry goods60/61€112k€111k▼
Remuneration, social security and pensions62€2k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€8k▼
Other operating charges640/8€3k€3k▼
Gross operating margin9900€74k€76k▲
Operating profit (loss)9901€60k€63k▲
Financial income75/76B€10k€5k▼
Recurring financial income75€10k€5k▼
Financial charges65/66B€389€399▲
Recurring financial charges65€389€399▲
Profit (loss) for the period before taxes9903€69k€68k▼
Income taxes67/77€18k€18k▼
Profit (loss) for the period9904€51k€50k▼
Profit (loss) for the period to be appropriated9905€51k€50k▼
Appropriation of the result
Profit (loss) to be appropriated9906€51k€50k▼
Transfer to equity691/2€51k€50k▼
To other reserves6921€51k€50k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €500kEq €506k ▲11%
8 profitable years in a row build equity to €506k.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €46k ▼8.5%
Net result drops to €46k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 213.68
Current ratio from 64.94 to 213.68; short-term debt falls from €5k to €2k.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
31-12
Financial
Liquidity times 6current ratio 93.97
Current ratio from 14.73 to 93.97; short-term debt falls from €17k to €3k.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 14.73
Current ratio from 5.29 to 14.73; short-term debt falls from €41k to €17k.
31-12
Financial
Equity above €200kEq €259k ▲32.3%
3 profitable years in a row build equity to €259k.
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150kEq €196k ▲36.9%
2 profitable years in a row build equity to €196k.
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Anderlues · 1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Coq 25F6150 AnderluesGround area
1,282 m²
Building footprint
57 m²
Volume, LiDAR
304 m³
Parcel 56001B0774/00L000, Wallonia · tallest building 6.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FORHED
since 20172.264.864.084
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56001B0774/00L000 | Wallonia | 1,282 m² | 1 · 57 m² | 6.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 685 companies in sector 74112 we hold annual accounts for 311. 229 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-05-2017
Fiscal year end31-12
Activities, NACEBEL
74112Other professional, scientific and technical activities
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:alvaro.navarra@skunet.be
Phone:0496120850