FORUS4
ActiveSummary
FORUS4 has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €992,079 and a net result of €23,810. Equity has been growing by about 3.5% per year since 2018. The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-09-2008 Normal situation
- Activity
- “L'investissement,la souscription,la prise ferme,le placement,la vente,l'achat et la négociation d'actions,parts,obligations,certificats,crédits,monnaies et autres valeurs mobilières…” (deed in French)From the articles, 13 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.174.610.732 1000 Brussel, since 22-09-2008
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €0
- Profit
- €23,810
- ▼ 22.3%
- Equity
- €992,079
- ▲ 2.5%
- Total assets
- €1.0m
- ▲ 2.3%
- 2025 accounts filed 27 days after the deadline
Score breakdownraises riskLiquidity: current ratio 43.58, cash €114lowers riskSize: total assets €1.0mEquity €992,079 (97.7% of total assets)Founded in 2008Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, micro). It does better than 81% of them on solvency, 38% on liquidity, 33% on profitability and 55% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 46 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00433965.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 17 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €998, smaller than the loss of €3,156 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €868 | €868 | €960 | €964 | €998 | ▲ 3.6% |
| Gross operating margin9900 | -€631 | -€1,226 | -€235 | -€55 | -€57 | -€184 | -€2,192 | €0 | - |
| Operating profit (loss)9901 | -€978 | -€2,094 | -€1,103 | -€923 | -€925 | -€1,144 | -€3,156 | -€998 | ▲ 68.4% |
| Financial income75/76B | - | - | - | €60,912 | €55,763 | €42,340 | €47,224 | €39,742 | ▼ 15.8% |
| Recurring financial income75 | €12,593 | €28,185 | €28,185 | €60,912 | €55,763 | €42,340 | €47,224 | €39,742 | ▼ 15.8% |
| Financial charges65/66B | - | - | - | €270 | €148 | €1,791 | €711 | €65 | ▼ 90.9% |
| Recurring financial charges65 | €93 | €108 | €122 | €270 | €148 | €1,791 | €711 | €65 | ▼ 90.9% |
| Profit (loss) for the period before taxes9903 | €90,364 | €25,983 | €26,960 | €59,719 | €54,691 | €39,405 | €43,356 | €38,679 | ▼ 10.8% |
| Income taxes67/77 | - | €8,000 | €8,500 | €12,744 | €12,782 | €10,000 | €12,727 | €14,869 | ▲ 16.8% |
| Profit (loss) for the period9904 | €90,364 | €17,983 | €18,460 | €46,974 | €41,909 | €29,405 | €30,630 | €23,810 | ▼ 22.3% |
| Profit (loss) for the period to be appropriated9905 | €90,364 | €17,983 | €18,460 | €46,974 | €41,909 | €29,405 | €30,630 | €23,810 | ▼ 22.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.2m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | ▲ 2.3% |
| Fixed assets21/28 | €100 | €100 | €100 | €100 | €100 | €100 | - | - | - |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | €100 | - | - | - |
| Current assets29/58 | €1.1m | €1.1m | €1.2m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | ▲ 2.3% |
| Amounts receivable within one year40/41 | €1.1m | €1.1m | €1.1m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | ▼ 2.3% |
| Other amounts receivable41 | - | - | - | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | ▼ 2.3% |
| Cash at bank and in hand54/58 | - | €107 | €52 | - | €24 | €212 | €72 | €114 | ▲ 57.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 15.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.2m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | ▲ 2.3% |
| Equity10/15 | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 2.5% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Capital10 | - | - | - | €0.02m | €0.02m | €0.02m | - | - | - |
| Issued capital100 | - | - | - | €0.02m | €0.02m | €0.02m | - | - | - |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.8m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €1.0m | ▲ 2.5% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.3m | €0.04m | €0.05m | €0.04m | €0.02m | €0.02m | ▼ 2.8% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.3m | €0.04m | €0.05m | €0.04m | €0.02m | €0.02m | ▲ 1.2% |
| Financial debts43 | - | - | - | €42 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €42 | - | - | - | - | - |
| Trade debts44 | €0.001m | €0.001m | €0.001m | €0.001m | €0.002m | €184 | €184 | €184 | = |
| Suppliers440/4 | - | - | - | €0.001m | €0.002m | €184 | €184 | €184 | = |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 1.3% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 1.3% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.02m | €0.02m | €0.001m | €0.001m | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | €0.001m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,364 | €17,983 | €18,460 | €46,974 | €41,909 | €29,405 | €30,630 | €23,810 | ▼ 22.3% |
| Operating cash flow (approximation) | €90,364 | €17,983 | €18,460 | €46,974 | €41,909 | €29,405 | €30,630 | €23,810 | ▼ 22.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - | - | - |
| Change in cash | - | - | -€55 | - | - | €188 | -€140 | €42 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,049 companies had the same profile as FORUS4 has now. Two years later, 0.4% had gone bankrupt and 96.0% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of FORUS4 itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,049 companies, not a prediction for FORUS4. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00433965 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00417648 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00391898 | |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00473032 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20333094 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-65000390 | |
| 31-12-2019 | micro format | 24-11-2020 | 2020-71800262 | |
| 31-12-2018 | micro format | 27-09-2019 | 2019-66700259 | |
| 31-12-2017 | micro format | 02-07-2018 | 2018-26300282 | |
| 31-12-2016 | full format | 03-07-2017 | 2017-26800183 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 29-07-2024 Converted to unavailable equity
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| PUTZ JP |
|
| PUTZ Jean – Paul |
|
Articles of association
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “18600, part égale du bénéfice”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “10, 2 mois suivant signification jugement”
- Authorised capitalThe board may raise the capital up to this amount without a new shareholder decision.
- “Jour fixé par la loi comme point de départ, peut conférer à l’organe d'administration le pouvoir d’émettre des actions nouvelles,des…”
Articles of association, deed of 29-07-2024 (in French)
Network & group
Board mandates elsewhere
2 board mandatesCompanies at the same address
4 other companiesConnections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
31-07
Gazette deed
Registered office moved from Ixelles to Bruxelles2 points ▸
- General meeting, 30-06-2024
- Registered-office move, Rue des Minimes 59 - 1000 Bruxelles
29-07
Gazette deed
Reappointment: PUTZ Jean – Paul (director)Legal form clause · Capital conversion · Amendment of the articles5 points ▸
- General meeting, 16-01-2024
- Legal form clause, “adapter les statuts aux dispositions du Code des sociétés et des associations, article 39,§1,alinéa 1 et 3 de la loi du 23-03-2019” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Amendment of the articles
- Director reappointment, PUTZ Jean – Paul (director (not named in the articles))
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 1050 Ixelles until 30-06-2024 · act of 31-07-2024
Activities
13 activities
- L'investissement,la souscription,la prise ferme,le placement,la vente,l'achat et la négociation d'actions,parts,obligations,certificats,crédits,monnaies et autres valeurs mobilières émises par des entreprises belges ou étrangères et qu'elles aient ou non un statut juridique(semi)-publique.
- La gestion des investissements et des participations dans des sociétés-filles,l'exercice de fonctions d'administration,la fourniture de conseils,management et autres services de même nature que les activités de la société.Ces services peuvent être fournis sur une base contractuelle ou statutaire et en la qualité de conseiller externe ou d'organe.
- Toutes entreprises,initiatives ou opérations visant à acquérir ou aliéner tous immeubles,ainsi qu'à procéder à tous lotissements,mises en valeur,promotion,location,gestion et rénovation de tous immeubles bâtis et non bâtis,et ce exclusivement à titre patrimonial.
- Accorder des prêts et avances sous quelle forme ou quelle durée que ce soit,à toutes les entreprises liées ou entreprises dans lesquelles elle possède une participation,ainsi que garantir tous les engagements des mêmes entreprises.
- L'objet ne rentre pas dans les prescrits de l'arrêté royal du cinq août mil neuf cent nonante et un et de la loi du six avril mil neuf cent nonante-cinq,relatif à la gestion de fortune et au conseil en placements et aux intermédiaires et conseillers en placement.
- La société a également pour objet,en Belgique et à l'étranger,tant pour son compte propre que pour le compte de tiers ou en participation avec des tiers,toute contribution à l'établissement et au développement d'entreprises et en particulier de dispenser des avis techniques,commerciaux ou administratifs dans le sens le plus large du terme,à l'exception des conseils de placement d'argent et autres,fournir des conseils,son assistance et exécuter des services directement ou indirectement sur le plan de l'administration et des finances,de la vente,de la production,des techniques d’organisation et de distributions commerciales,et plus généralement de la gestion en général et de l’exercice de toutes activités de services et de management au sens le plus large de ces termes à toutes personnes physiques ou morales quelconques;exécuter tous mandats sous forme d'études d'organisation,d'expertises,d'actes et de conseils techniques ou autres dans tout domaine rentrant dans son objet social.Au fin de réaliser son objet,la société peut émettre des emprunts obligataires,des certificats fonciers et tout autre emprunt analogue.
- La société peut agir pour son compte,par commission,comme intermédiaire ou comme représentant.
- Elle peut participer ou s'intéresser à toutes sociétés,entreprises,groupements ou organisations quelconques.Elle peut hypothéquer ces biens immobiliers et mettre en gage ses autres biens,y compris le fond de commerce,ainsi que donner son aval pour tout emprunt ou ouverture de crédit à condition qu'elle en tire un profit.
- Cette énumération est exemplative et nullement limitative.
- Au cas où la prestation de certains actes serait soumise à des conditions préalables d’accès à la profession,la société subordonnera son action,en ce qui concerne ces prestations,à la réalisation de ces conditions.
- La société peut d’une façon générale,accomplir toutes opérations commerciales,industrielles,financières,mobilières ou immobilières,soit pour son compte,soit pour le compte de tiers,se rapportant directement ou indirectement à son objet social ou qui seraient de nature à en faciliter directement ou indirectement,entièrement ou partiellement la réalisation.
- La société peut exercer toutes fonctions et mandats et s’intéresser par voie d’apport,de fusion,de souscription ou de toute autre manière dans toutes autres affaires,entreprises,associations ou sociétés ayant un objet identique,analogue ou connexe au sien ou qui sont de nature à favoriser le développement de son entreprise,à lui procurer des ressources ou à faciliter l’écoulement des services et produits.
- Seule l'assemblée générale des associés a qualité pour interpréter cet objet.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21808H0624/00B000 | Brussels | 192 m² | 1 · 192 m² | 18.2 m · 5 |