Forward Management
ActiveForward Management has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.73M and a net result of €589k. Equity is growing by ~27.1% per year across the filed fiscal years. Its solvency ranks better than 51% of 3603 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
75
/ 100
Excellent▼ -23 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency54▼-46
Growth78=
Stability100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130k at 30 days acceptable
Liquidity tight (current ratio 1.28 against 2.87 in 2024), and 69.3% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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
30.7%
Return on assets
10.5%
Age of the figures
11 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
29 d early
2023
26 d early
2022
24 d early
2021
31 d early
2020
29 d early
2019
29 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
12-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.73M▼ 65.1%
2024 · €4.96M
2018: €985k
2019: €1.42M
2020: €2.07M
2021: €2.91M
2022: €3.92M
2023: €5.40M
2024: €4.96M
2018 → 2025
Total assets
€5.63M▼ 22.3%
2024 · €7.25M
2018: €995k
2019: €1.52M
2020: €2.16M
2021: €3.32M
2022: €4.58M
2023: €6.22M
2024: €7.25M
2018 → 2025
Net result
€589k▼ 66.8%
2024 · €1.78M
2018: €236k
2019: €432k
2020: €656k
2021: €1.22M
2022: €1.35M
2023: €1.71M
2024: €1.78M
2018 → 2025
Working capital
€1.09M▼ 74.6%
2024 · €4.29M
2018: €759k
2019: €1.21M
2020: €1.88M
2021: €2.45M
2022: €3.15M
2023: €4.67M
2024: €4.29M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.91M-€3.92M▲ 34.9%€5.40M▲ 37.7%€4.96M▼ 8.0%€1.73M▼ 65.1%
Operating result€1.56M-€1.83M▲ 17.4%€2.49M▲ 36.1%€2.22M▼ 10.7%€352k▼ 84.2%
Net result€1.22M-€1.35M▲ 10.4%€1.71M▲ 26.7%€1.78M▲ 3.8%€589k▼ 66.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 84% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.63M
Fixed assets
€648k▼ 3.8%
Current assets
€4.98M▼ 24.2%
Equity and liabilities €5.63M
Equity
€1.73M▼ 65.1%
Debt
€3.90M▲ 70.3%
The debt ratio rises from 31.6% to 69.3%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€404k▼
2024 · €2.27M
Cash flow
€641k▼
2024 · €1.83M
Solvency
30.7%▼
2024 · 68.4%
Current ratio
1.28▼
2024 · 2.87
Quick ratio
1.28▼
2024 · 2.87
Debt / equity
2.25▲
2024 · 0.46
ROE
34.0%▼
2024 · 35.8%
ROA
10.5%▼
2024 · 24.5%
Interest coverage
25.20▼
2024 · 184.05
Debt
€3.90M▲
2024 · €2.29M
Debt ≤ 1 year
€3.90M▲
2024 · €2.29M
Income taxes
€93k▼
2024 · €582k
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€7.25M€5.63M▼
Fixed assets21/28€673k€648k▼
Tangible fixed assets22/27€673k€648k▼
Land and buildings22€673k€623k▼
Furniture and vehicles24-€24k
Financial fixed assets28€100€100=
Current assets29/58€6.58M€4.98M▼
Amounts receivable after more than one year29€700k€550k▼
Other amounts receivable291€700k€550k▼
Amounts receivable within one year40/41€84k€81k▼
Trade receivables40€84k€35k▼
Other amounts receivable41€128€46k▲
Current investments50/53€4.95M€3.88M▼
Cash at bank and in hand54/58€816k€456k▼
Deferred charges and accrued income490/1€34k€23k▼
Equity and liabilities
Total equity and liabilities10/49€7.25M€5.63M▼
Equity10/15€4.96M€1.73M▼
Contributions10/11€19k€19k=
Reserves13€4.94M€1.71M▼
Distributable reserves133€4.94M€1.71M▼
Amounts payable17/49€2.29M€3.90M▲
Amounts payable within one year42/48€2.29M€3.90M▲
Trade debts44€11k€9k▼
Suppliers440/4€11k€9k▼
Taxes, remuneration and social security45€355k€355k▼
Taxes450/3€353k€355k▲
Remuneration and social security454/9€3k-
Other amounts payable47/48€1.92M€3.53M▲
Accrued charges and deferred income492/3€250€5k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€50k€52k▲
Other operating charges640/8€8k€16k▲
Gross operating margin9900€2.28M€420k▼
Operating profit (loss)9901€2.22M€352k▼
Financial income75/76B€151k€346k▲
Recurring financial income75€151k€346k▲
Financial charges65/66B€12k€16k▲
Recurring financial charges65€12k€16k▲
Profit (loss) for the period before taxes9903€2.36M€682k▼
Income taxes67/77€582k€93k▼
Profit (loss) for the period9904€1.78M€589k▼
Profit (loss) for the period to be appropriated9905€1.78M€589k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.78M€589k▼
Transfer from equity791/2€433k€3.23M▲
Profit to be distributed694/7€2.21M€3.82M▲
Return on contributions (dividend)694€2.21M€3.82M▲
The notes to these accounts (6 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
13-08
State Gazette act
General meeting · Director resignation
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Highest result since 2018net €1.78M ▲3.8%
Net result €1.78M, the highest in the series.
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €5MEq €5.40M ▲37.7%
6 profitable years in a row build equity to €5.40M.
06-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €2MEq €2.07M ▲46.3%
3 profitable years in a row build equity to €2.07M.
01-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Equity above €1MEq €1.42M ▲43.8%
2 profitable years in a row build equity to €1.42M.
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB 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, Hasselt · 1 establishment unit since 2014
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.
Luikersteenweg 248C3500 HasseltGround area
4,019 m²
Building footprint
472 m²
Volume, LiDAR
1,299 m³
2 parcels, Flanders · tallest building 10.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Luikersteenweg 248, 3500 Hasselt
since 20142.236.675.389
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71328D0854/00H002 | Flanders | 2,904 m² | 1 · 181 m² | 1.5 m |
| 71328D0845/00A002 | Flanders | 1,115 m² | 1 · 291 m² | 10.0 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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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U Exhibitions
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BRASSERIE CASINO
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Of 20,234 companies in sector 56111 we hold annual accounts for 11,309. 2,605 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-10-2014
Fiscal year end30-09
Activities, NACEBEL
56101Full-service restaurants
56111Full-service restaurants
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.