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Forum Solar

Active
Public limited companyfounded 2024active for 2 yearsBrusselsesteenweg 6, 9050 Gent, Belgium37 active companies are registered at this addressKBO/BCE: BE 1007.575.523
Summary

Forum Solar has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12,256 and a net result of -€49,244. Its solvency ranks better than 23% of 11,075 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Overview

Activity
Renting and operating of own or leased non-residential real estate, excluding land
NACE 68203
1 site
Size
€279,189total assets 2025
Equity
€12,256
Loss
-€49,244
Turnover not published (abbreviated format)
Financial health
67 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
0.6%
Structure
Parent
Forum Estates Holding · 100%
Auditor: PricewaterhouseCoopers Reviseurs d'EntreprisesAccounts 14 days early
Why 67raises riskLiquidity: current ratio 0.02, cash €1,895lowers riskSector: Real estate activities (NACE 68)Size: total assets €279,189Legal form: public limited companyShow the evidence

Checked score

Score 2025
67 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 11% of its sector peers (NACE 68, micro)
Financial strength
Weak
Solvency 29
equity 4.4% of total assets
Liquidity 1
short-term debt 95.6% · cash 0.7%
Profitability 0
return on assets -17.6%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,597 companies, NACE 68, micro)
Last 24 months 04-2025: 0.6%lowest value 05-2025: 0.6%● unchanged vs 04-2025lowest value 06-2025: 0.6%● unchanged vs 05-2025 07-2025: 0.6%● unchanged vs 06-2025 08-2025: 0.6%● unchanged vs 07-2025 09-2025: 0.7%▲ +0.1 percentage points vs 08-2025 10-2025: 0.7%● unchanged vs 09-2025 11-2025: 0.8%▲ +0.1 percentage points vs 10-2025 12-2025: 0.8%● unchanged vs 11-2025 01-2026: 0.8%● unchanged vs 12-2025 02-2026: 0.9%▲ +0.1 percentage points vs 01-2026 03-2026: 0.9%● unchanged vs 02-2026 04-2026: 0.9%● unchanged vs 03-2026highest value 05-2026: 0.9%● unchanged vs 04-2026highest value 06-2026: 0.9%● unchanged vs 05-2026 07-2026: 0.9%● unchanged vs 06-2026 08-2026: 0.6%▼ -0.3 percentage points vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.6%● unchanged vs 09-2026
Credit of up to €500 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.02, below 1; short-term debt: 95.6% and cash: 0.7% of total assets), and 95.6% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 25% on solvency, 4% on liquidity and 4% on profitability.

The bankruptcy probability was computed on 17-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises riskneutral
lowers risk · Sector: Real estate activities (NACE 68)
KBO
lowers risk · Size: total assets €279,189
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.02, cash €1,895
NBB · annual accounts
lowers risk · Legal form: public limited company
KBO
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 11075 sector peers (2025).
NBB · sector comparison
Position among 11075 sector peers
Solvency
better than 23%
← weakest strongest →
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 years
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 17-07-2026, 14 days ahead of the deadline.
NBB · 1 filing
Deviation from the deadline
2025
14 days early
← before the deadline after the deadline →
Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since incorporation in 2024.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · abbreviated…
  2. Appointment: PwC Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Elke Krols
  3. Resignation: Cadiz NV (director)Appointments: Lauri Samuel Tiensuu (director)…

Key points

  • Caution: Among the weakest 17% on net resultsector median €10,199 · 11,066 companies -€49,244 View
  • Controlled by Forum Estates Holdingultimately: Cibus Nordic Real Estate… 100% View
  • Total assets 2025first financial year filed €279,189 View

By topic

Financials

Financial year
2025
Total assets
€279,189
Loss
-€49,244
Solvency
4.4%
Go to Financials

Board & ownership

Parent
Forum Estates Holding · 100%
Auditor
PricewaterhouseCoopers Reviseurs d'Entreprises
Go to Board & ownership

Company details

Sites
1
Legal form
Public limited company
Activity
Renting and operating of own or leased non-residential…NACE 68203
Founded
26-03-2024
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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