FORSET
ActiveSummary
FORSET has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.88M and a net result of €163k. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 53% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+4
Solvency83▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130k at 30 days acceptable
Liquidity ample (current ratio 32.37 against 48.22 in 2024; short-term debt: 2% and cash: 0% of total assets), and 42.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
57.5%
Return on assets
5%
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
70 d early
2023
22 d early
2022
20 d early
2021
18 d early
2020
29 d early
2019
67 d late
← 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, micro schema
Equity
€1.88M▲ 9.5%
2024 · €1.72M
2018: €1.03M
2019: €1.03M▼ -0.7% vs 2018lowest in 8 years
2020: €1.09M▲ +5.9% vs 2019
2021: €1.16M▲ +7.1% vs 2020
2022: €1.25M▲ +7.7% vs 2021
2023: €1.57M▲ +25.3% vs 2022
2024: €1.72M▲ +9.3% vs 2023
2025: €1.88M▲ +9.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€3.27M▲ 5.1%
2024 · €3.11M
2018: €2.77M
2019: €2.74M▼ -1.1% vs 2018lowest in 8 years
2020: €2.80M▲ +2.1% vs 2019
2021: €2.86M▲ +2.2% vs 2020
2022: €2.95M▲ +3.2% vs 2021
2023: €2.97M▲ +0.6% vs 2022
2024: €3.11M▲ +4.8% vs 2023
2025: €3.27M▲ +5.1% vs 2024highest in 8 years
2018 → 2025
Net result
€163k▲ 11.0%
2024 · €147k
2018: €-632klowest in 8 years
2019: €-8k▲ +98.8% vs 2018
2020: €61k▲ +902% vs 2019
2021: €78k▲ +27.2% vs 2020
2022: €89k▲ +14.8% vs 2021
2023: €317k▲ +256% vs 2022highest in 8 years
2024: €147k▼ -53.7% vs 2023
2025: €163k▲ +11.0% vs 2024
2018 → 2025
Working capital
€2.08M▲ 7.6%
2024 · €1.94M
2018: €1.42M
2019: €1.44M▲ +2.0% vs 2018
2020: €1.50M▲ +3.7% vs 2019
2021: €1.57M▲ +4.5% vs 2020
2022: €1.24M▼ -20.7% vs 2021lowest in 8 years
2023: €1.64M▲ +32.6% vs 2022
2024: €1.94M▲ +17.7% vs 2023
2025: €2.08M▲ +7.6% 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
Equity€1.16M-€1.25M▲ 7.7%€1.57M▲ 25.3%€1.72M▲ 9.3%€1.88M▲ 9.5%
2021: €1.16Mlowest in 5 years
2022: €1.25M▲ +7.7% vs 2021
2023: €1.57M▲ +25.3% vs 2022
2024: €1.72M▲ +9.3% vs 2023
2025: €1.88M▲ +9.5% vs 2024highest in 5 years
Operating result€-2k-€-6k▼ 257%€268k€49k▼ 81.9%€71k▲ 45.1%
2021: €-2k
2022: €-6k▼ -257% vs 2021lowest in 5 years
2023: €268k▲ +4586% vs 2022highest in 5 years
2024: €49k▼ -81.9% vs 2023
2025: €71k▲ +45.1% vs 2024
Net result€78k-€89k▲ 14.8%€317k▲ 256%€147k▼ 53.7%€163k▲ 11.0%
2021: €78klowest in 5 years
2022: €89k▲ +14.8% vs 2021
2023: €317k▲ +256% vs 2022highest in 5 years
2024: €147k▼ -53.7% vs 2023
2025: €163k▲ +11.0% vs 2024
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 45% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.27M
Fixed assets
€1.12M ▼ 1.1%
Current assets
€2.15M ▲ 8.7%
Equity and liabilities €3.27M
Equity
€1.88M ▲ 9.5%
Provisions
€28k ▼ 12.0%
Debt
€1.36M =
Debt's share of the balance-sheet total falls from 43.7% to 41.6%. Equity is higher.
Key figures and ratios
EBITDA
€85k▲
2024 · €66k
Cash flow
€177k▲
2024 · €164k
Current ratio
32.37▼
2024 · 48.22
Debt to equity
0.72▼
2024 · 0.79
ROE
8.7%▲
2024 · 8.5%
ROA
5.0%▲
2024 · 4.7%
Interest coverage
4.19▲
2024 · 3.76
Debt ≤ 1 year
€66k▲
2024 · €41k
Debt > 1 year
€1.29M▼
2024 · €1.32M
Income taxes
€220▲
2024 · €171
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.11M€3.27M▲
Fixed assets21/28€1.13M€1.12M▼
Intangible fixed assets21€80-
Tangible fixed assets22/27€1.13M€1.12M▼
Land and buildings22€1.12M€1.11M▼
Furniture and vehicles24€7k€6k▼
Current assets29/58€1.98M€2.15M▲
Amounts receivable after more than one year29€1.94M€2.12M▲
Other amounts receivable291€1.94M€2.12M▲
Amounts receivable within one year40/41€25k€26k▲
Trade receivables40€20k€21k▲
Other amounts receivable41€5k€6k▲
Cash at bank and in hand54/58€12k€50▼
Deferred charges and accrued income490/1€570€1k▲
Equity and liabilities
Total equity and liabilities10/49€3.11M€3.27M▲
Equity10/15€1.72M€1.88M▲
Contributions10/11€19k€19k=
Revaluation surpluses12€908k€908k=
Reserves13€49k€43k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€47k€41k▼
Profit (loss) carried forward14€742k€911k▲
Provisions and deferred taxes16€31k€28k▼
Deferred taxes168€31k€28k▼
Amounts payable17/49€1.36M€1.36M=
Amounts payable after more than one year17€1.32M€1.29M▼
Financial debts170/4€1.32M€1.29M▼
Amounts payable within one year42/48€41k€66k▲
Financial debts43€6k€7k▲
Credit institutions430/8€6k€7k▲
Trade debts44€23k€42k▲
Suppliers440/4€23k€42k▲
Taxes, remuneration and social security45€12k€18k▲
Taxes450/3€12k€18k▲
Income statement
Code20242025
Non-recurring operating income76A€8k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€14k▼
Other operating charges640/8€5k€3k▼
Non-recurring operating charges66A-€150
Gross operating margin9900€71k€88k▲
Operating profit (loss)9901€49k€71k▲
Financial income75/76B€112k€109k▼
Recurring financial income75€112k€109k▼
Financial charges65/66B€18k€20k▲
Recurring financial charges65€18k€20k▲
Profit (loss) for the period before taxes9903€143k€159k▲
Transfer from deferred taxes780€4k€4k=
Income taxes67/77€171€220▲
Profit (loss) for the period9904€147k€163k▲
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€152k€169k▲
Appropriation of the result
Profit (loss) to be appropriated9906€742k€911k▲
Profit (loss) brought forward from the previous period14P€590k€742k▲
The notes to these accounts (16 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6k | €8k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €21k | €18k | €17k | €14k | ▼ 19.2% |
| Other operating charges640/8 | €6k | €3k | €3k | €5k | €3k | ▼ 31.4% |
| Non-recurring operating charges66A | €2k | €7k | €325 | - | €150 | - |
| Gross operating margin9900 | €26k | €26k | €290k | €71k | €88k | ▲ 24.5% |
| Operating profit (loss)9901 | €-2k | €-6k | €268k | €49k | €71k | ▲ 45.1% |
| Financial income75/76B | €97k | €112k | €92k | €112k | €109k | ▼ 2.8% |
| Recurring financial income75 | €97k | €112k | €92k | €112k | €109k | ▼ 2.8% |
| Financial charges65/66B | €21k | €21k | €47k | €18k | €20k | ▲ 15.0% |
| Recurring financial charges65 | €21k | €21k | €47k | €18k | €20k | ▲ 15.0% |
| Profit (loss) for the period before taxes9903 | €74k | €86k | €313k | €143k | €159k | ▲ 11.3% |
| Transfer from deferred taxes780 | €4k | €4k | €4k | €4k | €4k | = |
| Income taxes67/77 | €276 | €237 | €167 | €171 | €220 | ▲ 28.4% |
| Profit (loss) for the period9904 | €78k | €89k | €317k | €147k | €163k | ▲ 11.0% |
| Transfer from tax-exempt reserves789 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) for the period to be appropriated9905 | €83k | €95k | €323k | €152k | €169k | ▲ 10.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.86M | €2.95M | €2.97M | €3.11M | €3.27M | ▲ 5.1% |
| Fixed assets21/28 | €1.23M | €1.22M | €1.15M | €1.13M | €1.12M | ▼ 1.1% |
| Intangible fixed assets21 | €2k | €1k | €584 | €80 | - | - |
| Tangible fixed assets22/27 | €1.23M | €1.22M | €1.14M | €1.13M | €1.12M | ▼ 1.1% |
| Land and buildings22 | €1.22M | €1.20M | €1.13M | €1.12M | €1.11M | ▼ 1.0% |
| Plant, machinery and equipment23 | €3k | €2k | €996 | - | - | - |
| Furniture and vehicles24 | €4k | €16k | €12k | €7k | €6k | ▼ 17.8% |
| Financial fixed assets28 | €500 | - | - | - | - | - |
| Current assets29/58 | €1.63M | €1.73M | €1.82M | €1.98M | €2.15M | ▲ 8.7% |
| Amounts receivable after more than one year29 | €12k | €1.70M | €1.79M | €1.94M | €2.12M | ▲ 9.3% |
| Other amounts receivable291 | €12k | €1.70M | €1.79M | €1.94M | €2.12M | ▲ 9.3% |
| Stocks and contracts in progress3 | €9k | - | - | - | - | - |
| Stocks30/36 | €9k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.61M | €19k | €28k | €25k | €26k | ▲ 6.3% |
| Trade receivables40 | €18k | €15k | €15k | €20k | €21k | ▲ 3.9% |
| Other amounts receivable41 | €1.59M | €4k | €12k | €5k | €6k | ▲ 16.5% |
| Cash at bank and in hand54/58 | €3k | €6k | €6 | €12k | €50 | ▼ 99.6% |
| Deferred charges and accrued income490/1 | €455 | €307 | €512 | €570 | €1k | ▲ 85.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.86M | €2.95M | €2.97M | €3.11M | €3.27M | ▲ 5.1% |
| Equity10/15 | €1.16M | €1.25M | €1.57M | €1.72M | €1.88M | ▲ 9.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Revaluation surpluses12 | €908k | €908k | €908k | €908k | €908k | = |
| Reserves13 | €66k | €60k | €54k | €49k | €43k | ▼ 11.5% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €64k | €58k | €53k | €47k | €41k | ▼ 12.0% |
| Profit (loss) carried forward14 | €172k | €267k | €590k | €742k | €911k | ▲ 22.7% |
| Provisions and deferred taxes16 | €43k | €39k | €35k | €31k | €28k | ▼ 12.0% |
| Deferred taxes168 | €43k | €39k | €35k | €31k | €28k | ▼ 12.0% |
| Amounts payable17/49 | €1.65M | €1.66M | €1.36M | €1.36M | €1.36M | = |
| Amounts payable after more than one year17 | €1.58M | €1.16M | €1.14M | €1.32M | €1.29M | ▼ 1.9% |
| Financial debts170/4 | €1.58M | €1.16M | €1.14M | €1.32M | €1.29M | ▼ 1.9% |
| Amounts payable within one year42/48 | €65k | €487k | €177k | €41k | €66k | ▲ 61.9% |
| Financial debts43 | €35k | €429k | €134k | €6k | €7k | ▲ 9.9% |
| Credit institutions430/8 | €35k | €429k | €134k | €6k | €7k | ▲ 9.9% |
| Trade debts44 | €20k | €41k | €29k | €23k | €42k | ▲ 83.3% |
| Suppliers440/4 | €20k | €41k | €29k | €23k | €42k | ▲ 83.3% |
| Taxes, remuneration and social security45 | €10k | €17k | €14k | €12k | €18k | ▲ 48.9% |
| Taxes450/3 | €10k | €17k | €14k | €12k | €18k | ▲ 48.9% |
| Accrued charges and deferred income492/3 | €3k | €6k | €42k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78k | €89k | €317k | €147k | €163k | ▲ 11.0% |
| + Depreciation and write-downs630 | €20k | €21k | €18k | €17k | €14k | ▼ 19.2% |
| Operating cash flow (approximation) | €98k | €110k | €335k | €164k | €177k | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | €-15k | €59k | €-4k | €-2k | ▲ 55.2% |
| Change in cash | - | €3k | €-6k | €12k | €-11k | ▼ 200% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 5current ratio 48.22
Current ratio from 10.28 to 48.22; short-term debt falls from €177k to €41k.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €317k ▲256%
Operating result €268k, net result €317k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 10.28
Current ratio from 3.55 to 10.28; short-term debt falls from €487k to €177k.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €61k
Net result €61k after 2 loss-making years.
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
2019
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 83 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
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, Nieuwpoort · 1 establishment unit since 1997
Ground area
1,280 m²
Building footprint
126 m²
Volume, LiDAR
972 m³
Parcel 38402D0187/00A000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
FORSET
since 19972.071.275.345
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38402D0187/00A000 | Flanders | 1,280 m² | 1 · 126 m² | 10.9 m · 3 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.
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THINKYOUNG
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 2,046 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 (pre-2019)
Founded18-01-1995
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.