FORLOG
ActiveSummary
FORLOG has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.71M and a net result of €36k. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 655 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▲+2
Solvency59▲+28
Growth40▼-1
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity short (current ratio 0.48 against 0.55 in 2024; short-term debt: 65.4% and cash: 2.2% of total assets), and 65.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more 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
34.4%
Return on assets
0.7%
Age of the figures
9 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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
27 d early
2023
16 d early
2022
11 d early
2021
19 d early
2020
5 d early
2019
15 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€7.07M▼ 11.4%
2024 · €7.98M
2018: €10.78Mhighest in 8 years
2019: €9.43M▼ -12.5% vs 2018
2020: €6.34M▼ -32.8% vs 2019lowest in 8 years
2021: €7.89M▲ +24.4% vs 2020
2022: €7.52M▼ -4.7% vs 2021
2023: €7.12M▼ -5.3% vs 2022
2024: €7.98M▲ +12.0% vs 2023
2025: €7.07M▼ -11.4% vs 2024
2018 → 2025
EBIT margin
1.8%▲ 1.2pp
2024 · 0.6%
2018: 1.6%
2019: 1.9%▲ +18.5% vs 2018highest in 8 years
2020: 1.8%▼ -1.8% vs 2019
2021: 0.9%▼ -49.4% vs 2020
2022: 0.6%▼ -35.3% vs 2021
2023: 1.1%▲ +86.1% vs 2022
2024: 0.6%▼ -49.0% vs 2023lowest in 8 years
2025: 1.8%▲ +210% vs 2024
2018 → 2025
Net result
€36k▲ 12,951%
2024 · €272
2018: €55khighest in 8 years
2019: €22k▼ -59.6% vs 2018
2020: €20k▼ -7.4% vs 2019
2021: €12k▼ -39.4% vs 2020
2022: €5k▼ -61.7% vs 2021
2023: €34k▲ +623% vs 2022
2024: €272▼ -99.2% vs 2023lowest in 8 years
2025: €36k▲ +12951% vs 2024
2018 → 2025
Working capital
€-1.69M▲ 15.0%
2024 · €-1.99M
2018: €-3.99Mlowest in 8 years
2019: €-3.43M▲ +14.0% vs 2018
2020: €-3.52M▼ -2.6% vs 2019
2021: €-3.23M▲ +8.1% vs 2020
2022: €-2.86M▲ +11.6% vs 2021
2023: €-2.38M▲ +16.8% vs 2022
2024: €-1.99M▲ +16.3% vs 2023
2025: €-1.69M▲ +15.0% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€7.89M-€7.52M▼ 4.7%€7.12M▼ 5.3%€7.98M▲ 12.0%€7.07M▼ 11.4%
2021: €7.89M
2022: €7.52M▼ -4.7% vs 2021
2023: €7.12M▼ -5.3% vs 2022
2024: €7.98M▲ +12.0% vs 2023highest in 5 years
2025: €7.07M▼ -11.4% vs 2024lowest in 5 years
Equity€254k-€258k▲ 1.9%€293k▲ 13.3%€293k▲ 0.1%€1.71M▲ 483%
2021: €254klowest in 5 years
2022: €258k▲ +1.9% vs 2021
2023: €293k▲ +13.3% vs 2022
2024: €293k▲ +0.1% vs 2023
2025: €1.71M▲ +483% vs 2024highest in 5 years
Operating result€74k-€45k▼ 38.4%€80k▲ 76.3%€46k▼ 42.9%€126k▲ 175%
2021: €74k
2022: €45k▼ -38.4% vs 2021lowest in 5 years
2023: €80k▲ +76.3% vs 2022
2024: €46k▼ -42.9% vs 2023
2025: €126k▲ +175% vs 2024highest in 5 years
Net result€12k-€5k▼ 61.7%€34k▲ 623%€272▼ 99.2%€36k▲ 12,951%
2021: €12k
2022: €5k▼ -61.7% vs 2021
2023: €34k▲ +623% vs 2022
2024: €272▼ -99.2% vs 2023lowest in 5 years
2025: €36k▲ +12951% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 175% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.66M
Fixed assets
€3.11M ▲ 64.4%
Current assets
€1.55M ▼ 36.8%
Equity and liabilities €4.96M
Equity
€1.71M ▲ 483%
Debt
€3.25M ▼ 27.3%
Debt's share of the balance-sheet total falls from 93.9% to 65.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€518k▲
2024 · €489k
Cash flow
€428k▼
2024 · €443k
Current ratio
0.48▼
2024 · 0.55
Debt to equity
1.90▼
2024 · 15.27
ROE
2.1%▲
2024 · 0.1%
ROA
0.7%▲
2024 · 0.0%
Interest coverage
10.86▼
2024 · 19.13
Debt ≤ 1 year
€3.24M▼
2024 · €4.45M
Income taxes
€-147▼
2024 · €161
Staff costs
€612k▲
2024 · €583k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 70 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.77M€4.96M▲
Formation expenses20€421k€300k▼
Fixed assets21/28€1.89M€3.11M▲
Intangible fixed assets21€803-
Tangible fixed assets22/27€1.39M€2.61M▲
Land and buildings22€1.08M€2.35M▲
Plant, machinery and equipment23€299k€206k▼
Furniture and vehicles24€9k€36k▲
Leasing and similar rights25€1k-
Other tangible fixed assets26-€16k
Financial fixed assets28€503k€503k=
Affiliated companies280/1€503k€503k=
Participating interests280€503k€503k=
Current assets29/58€2.45M€1.55M▼
Amounts receivable within one year40/41€1.99M€1.03M▼
Trade receivables40€1.95M€1.03M▼
Other amounts receivable41€43k€2▼
Cash at bank and in hand54/58€186k€109k▼
Deferred charges and accrued income490/1€279k€416k▲
Equity and liabilities
Total equity and liabilities10/49€4.77M€4.96M▲
Equity10/15€293k€1.71M▲
Contributions10/11€1.06M€1.06M=
Capital10€1.06M€1.06M=
Issued capital100€1.06M€1.06M=
Revaluation surpluses12-€1.38M
Reserves13€121k€121k=
Non-distributable reserves130/1€11k€11k=
Legal reserve130€11k€11k=
Distributable reserves133€110k€110k=
Profit (loss) carried forward14€-889k€-854k▲
Amounts payable17/49€4.48M€3.25M▼
Amounts payable within one year42/48€4.45M€3.24M▼
Financial debts43€666k€720k▲
Credit institutions430/8€120k€120k=
Other loans439€546k€600k▲
Trade debts44€3.36M€2.04M▼
Suppliers440/4€3.36M€2.04M▼
Taxes, remuneration and social security45€148k€212k▲
Taxes450/3€17k€46k▲
Remuneration and social security454/9€131k€166k▲
Other amounts payable47/48€267k€267k=
Accrued charges and deferred income492/3€29k€10k▼
Income statement
Code20242025
Operating income70/76A€8.00M€7.10M▼
Turnover70€7.98M€7.07M▼
Other operating income74€27k€30k▲
Operating charges60/66A€7.96M€6.97M▼
Goods for resale, raw materials and consumables60€6.01M€5.03M▼
Purchases600/8€6.01M€5.03M▼
Services and other goods61€831k€873k▲
Remuneration, social security and pensions62€583k€612k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€443k€392k▼
Other operating charges640/8€67k€73k▲
Non-recurring operating charges66A€29k-
Operating profit (loss)9901€46k€126k▲
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Other financial income752/9€1k€2k▲
Financial charges65/66B€47k€93k▲
Recurring financial charges65€47k€93k▲
Debt charges650€26k€48k▲
Other financial charges652/9€21k€45k▲
Profit (loss) for the period before taxes9903€434€35k▲
Income taxes67/77€161€-147▼
Taxes670/3€2k€700▼
Tax adjustments and reversals of tax provisions77€1k€847▼
Profit (loss) for the period9904€272€36k▲
Profit (loss) for the period to be appropriated9905€272€36k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-889k€-854k▲
Profit (loss) brought forward from the previous period14P€-890k€-889k=
Social balance
Average headcount (FTE)90878.68.5▼
The notes to these accounts (62 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €7.91M | €7.54M | €7.15M | €8.00M | €7.10M | ▼ 11.3% |
| Turnover70 | €7.89M | €7.52M | €7.12M | €7.98M | €7.07M | ▼ 11.4% |
| Other operating income74 | €21k | €28k | €29k | €27k | €30k | ▲ 8.4% |
| Operating charges60/66A | €7.83M | €7.50M | €7.07M | €7.96M | €6.97M | ▼ 12.4% |
| Goods for resale, raw materials and consumables60 | €5.62M | €5.24M | €4.96M | €6.01M | €5.03M | ▼ 16.3% |
| Purchases600/8 | €5.62M | €5.24M | €4.96M | €6.01M | €5.03M | ▼ 16.3% |
| Services and other goods61 | €713k | €895k | €906k | €831k | €873k | ▲ 5.0% |
| Remuneration, social security and pensions62 | €839k | €730k | €618k | €583k | €612k | ▲ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €581k | €601k | €526k | €443k | €392k | ▼ 11.5% |
| Other operating charges640/8 | €84k | €34k | €64k | €67k | €73k | ▲ 7.9% |
| Non-recurring operating charges66A | - | - | - | €29k | - | - |
| Operating profit (loss)9901 | €74k | €45k | €80k | €46k | €126k | ▲ 175% |
| Financial income75/76B | €2k | €1k | €3k | €1k | €2k | ▲ 81.0% |
| Recurring financial income75 | €2k | €1k | €3k | €1k | €2k | ▲ 81.0% |
| Other financial income752/9 | €2k | €1k | €3k | €1k | €2k | ▲ 81.0% |
| Financial charges65/66B | €62k | €40k | €47k | €47k | €93k | ▲ 98.6% |
| Recurring financial charges65 | €62k | €40k | €47k | €47k | €93k | ▲ 98.6% |
| Debt charges650 | €25k | €12k | €16k | €26k | €48k | ▲ 86.5% |
| Other financial charges652/9 | €37k | €28k | €32k | €21k | €45k | ▲ 113% |
| Profit (loss) for the period before taxes9903 | €14k | €6k | €36k | €434 | €35k | ▲ 8,063% |
| Income taxes67/77 | €1k | €2k | €2k | €161 | €-147 | ▼ 191% |
| Taxes670/3 | €1k | €2k | €2k | €2k | €700 | ▼ 53.3% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €1k | €847 | ▼ 36.7% |
| Profit (loss) for the period9904 | €12k | €5k | €34k | €272 | €36k | ▲ 12,951% |
| Profit (loss) for the period to be appropriated9905 | €12k | €5k | €34k | €272 | €36k | ▲ 12,951% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.80M | €5.79M | €5.64M | €4.77M | €4.96M | ▲ 4.1% |
| Formation expenses20 | €861k | €689k | €543k | €421k | €300k | ▼ 28.7% |
| Fixed assets21/28 | €2.84M | €2.52M | €2.14M | €1.89M | €3.11M | ▲ 64.4% |
| Intangible fixed assets21 | €171k | €100k | €39k | €803 | - | - |
| Tangible fixed assets22/27 | €2.17M | €1.92M | €1.60M | €1.39M | €2.61M | ▲ 87.8% |
| Land and buildings22 | €1.45M | €1.30M | €1.19M | €1.08M | €2.35M | ▲ 117% |
| Plant, machinery and equipment23 | €571k | €528k | €388k | €299k | €206k | ▼ 31.0% |
| Furniture and vehicles24 | €11k | €8k | €5k | €9k | €36k | ▲ 316% |
| Leasing and similar rights25 | €112k | €63k | €13k | €1k | - | - |
| Other tangible fixed assets26 | €29k | €16k | €6k | - | €16k | - |
| Financial fixed assets28 | €503k | €503k | €503k | €503k | €503k | = |
| Affiliated companies280/1 | €503k | €503k | €503k | €503k | €503k | = |
| Participating interests280 | €503k | €503k | €503k | €503k | €503k | = |
| Current assets29/58 | €3.09M | €2.58M | €2.95M | €2.45M | €1.55M | ▼ 36.8% |
| Amounts receivable within one year40/41 | €2.23M | €1.81M | €2.15M | €1.99M | €1.03M | ▼ 48.4% |
| Trade receivables40 | €2.20M | €1.75M | €1.99M | €1.95M | €1.03M | ▼ 47.3% |
| Other amounts receivable41 | €29k | €59k | €159k | €43k | €2 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €69k | €73k | €46k | €186k | €109k | ▼ 41.3% |
| Deferred charges and accrued income490/1 | €797k | €694k | €757k | €279k | €416k | ▲ 48.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.80M | €5.79M | €5.64M | €4.77M | €4.96M | ▲ 4.1% |
| Equity10/15 | €254k | €258k | €293k | €293k | €1.71M | ▲ 483% |
| Contributions10/11 | €1.06M | €1.06M | €1.06M | €1.06M | €1.06M | = |
| Capital10 | €1.06M | €1.06M | €1.06M | €1.06M | €1.06M | = |
| Issued capital100 | €1.06M | €1.06M | €1.06M | €1.06M | €1.06M | = |
| Revaluation surpluses12 | - | - | - | - | €1.38M | - |
| Reserves13 | €121k | €121k | €121k | €121k | €121k | = |
| Non-distributable reserves130/1 | €11k | €11k | €11k | €11k | €11k | = |
| Legal reserve130 | €11k | €11k | €11k | €11k | €11k | = |
| Distributable reserves133 | €110k | €110k | €110k | €110k | €110k | = |
| Profit (loss) carried forward14 | €-929k | €-924k | €-890k | €-889k | €-854k | ▲ 4.0% |
| Amounts payable17/49 | €6.55M | €5.53M | €5.35M | €4.48M | €3.25M | ▼ 27.3% |
| Amounts payable within one year42/48 | €6.33M | €5.44M | €5.33M | €4.45M | €3.24M | ▼ 27.0% |
| Current portion of amounts payable after more than one year42 | €240k | - | - | - | - | - |
| Financial debts43 | €974k | €746k | €894k | €666k | €720k | ▲ 8.1% |
| Credit institutions430/8 | €974k | €746k | €120k | €120k | €120k | = |
| Other loans439 | - | - | €774k | €546k | €600k | ▲ 9.9% |
| Trade debts44 | €4.61M | €4.27M | €4.02M | €3.36M | €2.04M | ▼ 39.2% |
| Suppliers440/4 | €4.61M | €4.27M | €4.02M | €3.36M | €2.04M | ▼ 39.2% |
| Taxes, remuneration and social security45 | €241k | €155k | €153k | €148k | €212k | ▲ 42.9% |
| Taxes450/3 | €56k | €26k | €22k | €17k | €46k | ▲ 162% |
| Remuneration and social security454/9 | €185k | €129k | €131k | €131k | €166k | ▲ 27.1% |
| Other amounts payable47/48 | €267k | €267k | €267k | €267k | €267k | = |
| Accrued charges and deferred income492/3 | €218k | €92k | €15k | €29k | €10k | ▼ 65.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €5k | €34k | €272 | €36k | ▲ 12,951% |
| + Depreciation and write-downs630 | €581k | €601k | €526k | €443k | €392k | ▼ 11.5% |
| Operating cash flow (approximation) | €593k | €606k | €560k | €443k | €428k | ▼ 3.6% |
| Investment in fixed assets (approximation) | - | €-277k | €-149k | €-192k | €-1.61M | ▼ 737% |
| Change in cash | - | €5k | €-28k | €140k | €-77k | ▼ 155% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €1MEq €1.71M ▲483%
8 profitable years in a row build equity to €1.71M.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €272 ▼99.2%
Net result drops to €272, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €200kEq €221k ▲11.1%
2 profitable years in a row build equity to €221k.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-07
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 16 acts read
About the unread acts
We know of 16 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
16 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, Willebroek · 2 establishment units since 2000
Ground area
2.6 ha
Building footprint
840 m²
Volume, LiDAR
6,048 m³
2 parcels, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
2 establishment units
Koningin Astridlaan 14, 2830 Willebroek
since 20002.067.713.168
FORLOG II
since 20082.169.151.414
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12342B0150/00P000 | Flanders | 1.3 ha | - | - |
| 12036D0693/00F000 | Flanders | 1.3 ha | 1 · 840 m² | 8.9 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.
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Of 355 companies in sector 52249 we hold annual accounts for 266. 167 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
Founded25-07-1994
Fiscal year end31-12
Activities, NACEBEL 2025
52249Warehousing and support activities for transportation
52250Logistics services
Scores and ratios are computed by Checked and are not a credit decision.