FORZA
ActiveSummary
FORZA has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €196k and a net result of €46k. Equity is growing by ~22.7% per year across the filed fiscal years. Its solvency ranks better than 21% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability26▼-20
Solvency42▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.02 in 2024; short-term debt: 47.6% and cash: 0.5% of total assets), and 83.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
16.8%
Return on assets
3.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 21%
← weakest
strongest →
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 22-05-2026, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
70 d early
2024
125 d early
2023
47 d early
2022
24 d early
2021
44 d early
2020
64 d early
2019
28 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, micro schema
Equity
€196k▲ 30.6%
2024 · €150k
2018: €65k
2019: €66k▲ +1.6% vs 2018
2020: €63k▼ -3.8% vs 2019lowest in 8 years
2021: €79k▲ +24.1% vs 2020
2022: €99k▲ +25.8% vs 2021
2023: €122k▲ +23.4% vs 2022
2024: €150k▲ +22.4% vs 2023
2025: €196k▲ +30.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.16M▲ 0.1%
2024 · €1.16M
2018: €99k
2019: €95k▼ -4.2% vs 2018lowest in 8 years
2020: €540k▲ +470% vs 2019
2021: €546k▲ +1.0% vs 2020
2022: €543k▼ -0.4% vs 2021
2023: €1.19M▲ +119% vs 2022highest in 8 years
2024: €1.16M▼ -2.6% vs 2023
2025: €1.16M▲ +0.1% vs 2024
2018 → 2025
Net result
€46k▲ 17.4%
2024 · €39k
2018: €-896
2019: €1k▲ +216% vs 2018
2020: €-3k▼ -345% vs 2019lowest in 8 years
2021: €15k▲ +703% vs 2020
2022: €20k▲ +32.9% vs 2021
2023: €23k▲ +14.2% vs 2022
2024: €39k▲ +68.1% vs 2023
2025: €46k▲ +17.4% vs 2024highest in 8 years
2018 → 2025
Working capital
€-546k▼ 5.2%
2024 · €-519k
2018: €47k
2019: €55k▲ +17.3% vs 2018highest in 8 years
2020: €-51k▼ -193% vs 2019
2021: €-69k▼ -35.5% vs 2020
2022: €-84k▼ -22.4% vs 2021
2023: €-506k▼ -503% vs 2022
2024: €-519k▼ -2.4% vs 2023
2025: €-546k▼ -5.2% vs 2024lowest 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€79k-€99k▲ 25.8%€122k▲ 23.4%€150k▲ 22.4%€196k▲ 30.6%
2021: €79klowest in 5 years
2022: €99k▲ +25.8% vs 2021
2023: €122k▲ +23.4% vs 2022
2024: €150k▲ +22.4% vs 2023
2025: €196k▲ +30.6% vs 2024highest in 5 years
Operating result€2k-€7k▲ 268%€12k▲ 78.9%€11k▼ 4.7%€7k▼ 40.5%
2021: €2klowest in 5 years
2022: €7k▲ +268% vs 2021
2023: €12k▲ +78.9% vs 2022highest in 5 years
2024: €11k▼ -4.7% vs 2023
2025: €7k▼ -40.5% vs 2024
Net result€15k-€20k▲ 32.9%€23k▲ 14.2%€39k▲ 68.1%€46k▲ 17.4%
2021: €15klowest in 5 years
2022: €20k▲ +32.9% vs 2021
2023: €23k▲ +14.2% vs 2022
2024: €39k▲ +68.1% vs 2023
2025: €46k▲ +17.4% vs 2024highest in 5 years
Turnover and EBIT margin not published: the 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 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.16M
Fixed assets
€1.16M ▲ 0.5%
Current assets
€8k ▼ 35.4%
Equity and liabilities €1.16M
Equity
€196k ▲ 30.6%
Debt
€967k ▼ 4.4%
Debt's share of the balance-sheet total falls from 87.1% to 83.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8k
Cash flow
€47k
Current ratio
0.01▼
2024 · 0.02
Debt to equity
4.94▼
2024 · 6.75
ROE
23.4%▼
2024 · 26.1%
ROA
3.9%▲
2024 · 3.4%
Interest coverage
0.29
Debt ≤ 1 year
€553k▲
2024 · €530k
Debt > 1 year
€414k▼
2024 · €481k
Income taxes
€5k▲
2024 · €4k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.16M€1.16M▲
Fixed assets21/28€1.15M€1.16M▲
Tangible fixed assets22/27-€5k
Furniture and vehicles24-€5k
Financial fixed assets28€1.15M€1.15M=
Current assets29/58€12k€8k▼
Amounts receivable within one year40/41€1k€1k=
Trade receivables40€1k€1k=
Cash at bank and in hand54/58€10k€6k▼
Equity and liabilities
Total equity and liabilities10/49€1.16M€1.16M▲
Equity10/15€150k€196k▲
Contributions10/11€19k€19k=
Reserves13€131k€177k▲
Distributable reserves133€131k€177k▲
Amounts payable17/49€1.01M€967k▼
Amounts payable after more than one year17€481k€414k▼
Financial debts170/4€481k€414k▼
Amounts payable within one year42/48€530k€553k▲
Current portion of amounts payable after more than one year42€96k€96k=
Trade debts44€209€4k▲
Suppliers440/4€209€4k▲
Taxes, remuneration and social security45€15k€16k▲
Taxes450/3€13k€11k▼
Remuneration and social security454/9€3k€5k▲
Other amounts payable47/48€419k€438k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€812
Other operating charges640/8€1k€2k▲
Gross operating margin9900€12k€9k▼
Operating profit (loss)9901€11k€7k▼
Financial income75/76B€60k€70k▲
Recurring financial income75€60k€70k▲
Financial charges65/66B€28k€26k▼
Recurring financial charges65€28k€26k▼
Profit (loss) for the period before taxes9903€43k€51k▲
Income taxes67/77€4k€5k▲
Profit (loss) for the period9904€39k€46k▲
Profit (loss) for the period to be appropriated9905€39k€46k▲
Appropriation of the result
Profit (loss) to be appropriated9906€39k€46k▲
Transfer from equity791/2€12k-
Transfer to equity691/2€39k€46k▲
To other reserves6921€39k€46k▲
Profit to be distributed694/7€12k-
Return on contributions (dividend)694€12k-
The notes to these accounts (8 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | - | - | - | €812 | - |
| Other operating charges640/8 | €908 | €945 | €1k | €1k | €2k | ▲ 65.7% |
| Gross operating margin9900 | €8k | €8k | €13k | €12k | €9k | ▼ 24.8% |
| Operating profit (loss)9901 | €2k | €7k | €12k | €11k | €7k | ▼ 40.5% |
| Financial income75/76B | €25k | €25k | €25k | €60k | €70k | ▲ 16.5% |
| Recurring financial income75 | €25k | €25k | €25k | €60k | €70k | ▲ 16.5% |
| Financial charges65/66B | €10k | €10k | €11k | €28k | €26k | ▼ 7.0% |
| Recurring financial charges65 | €10k | €10k | €11k | €28k | €26k | ▼ 7.0% |
| Profit (loss) for the period before taxes9903 | €17k | €22k | €26k | €43k | €51k | ▲ 16.8% |
| Income taxes67/77 | €2k | €2k | €3k | €4k | €5k | ▲ 11.8% |
| Profit (loss) for the period9904 | €15k | €20k | €23k | €39k | €46k | ▲ 17.4% |
| Profit (loss) for the period to be appropriated9905 | €15k | €20k | €23k | €39k | €46k | ▲ 17.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €546k | €543k | €1.19M | €1.16M | €1.16M | ▲ 0.1% |
| Fixed assets21/28 | €500k | €500k | €1.15M | €1.15M | €1.16M | ▲ 0.5% |
| Tangible fixed assets22/27 | - | - | - | - | €5k | - |
| Furniture and vehicles24 | - | - | - | - | €5k | - |
| Financial fixed assets28 | €500k | €500k | €1.15M | €1.15M | €1.15M | = |
| Current assets29/58 | €46k | €43k | €43k | €12k | €8k | ▼ 35.4% |
| Amounts receivable within one year40/41 | €2k | €2k | €1k | €1k | €1k | = |
| Trade receivables40 | €1k | €1k | €1k | €1k | €1k | = |
| Other amounts receivable41 | €411 | €411 | - | - | - | - |
| Current investments50/53 | €5k | €5k | €5k | - | - | - |
| Cash at bank and in hand54/58 | €39k | €37k | €36k | €10k | €6k | ▼ 40.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €546k | €543k | €1.19M | €1.16M | €1.16M | ▲ 0.1% |
| Equity10/15 | €79k | €99k | €122k | €150k | €196k | ▲ 30.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €63k | €81k | €104k | €131k | €177k | ▲ 35.0% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €61k | €79k | €104k | €131k | €177k | ▲ 35.0% |
| Profit (loss) carried forward14 | €-3k | - | - | - | - | - |
| Amounts payable17/49 | €467k | €444k | €1.07M | €1.01M | €967k | ▼ 4.4% |
| Amounts payable after more than one year17 | €353k | €317k | €521k | €481k | €414k | ▼ 14.1% |
| Financial debts170/4 | €353k | €317k | €521k | €481k | €414k | ▼ 14.1% |
| Amounts payable within one year42/48 | €114k | €127k | €549k | €530k | €553k | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | €36k | €36k | €96k | €96k | €96k | = |
| Trade debts44 | €453 | €445 | €111 | €209 | €4k | ▲ 1,834% |
| Suppliers440/4 | €453 | €445 | €111 | €209 | €4k | ▲ 1,834% |
| Taxes, remuneration and social security45 | €8k | €10k | €11k | €15k | €16k | ▲ 0.5% |
| Taxes450/3 | €5k | €7k | €9k | €13k | €11k | ▼ 18.7% |
| Remuneration and social security454/9 | €3k | €3k | €3k | €3k | €5k | ▲ 100% |
| Other amounts payable47/48 | €70k | €82k | €442k | €419k | €438k | ▲ 4.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €20k | €23k | €39k | €46k | ▲ 17.4% |
| + Depreciation and write-downs630 | €6k | - | - | - | €812 | - |
| Operating cash flow (approximation) | €21k | €20k | €23k | €39k | €47k | ▲ 19.5% |
| Investment in fixed assets (approximation) | - | €0 | €-650k | €0 | €-6k | - |
| Change in cash | - | €-2k | €-440 | €-26k | €-4k | ▲ 83.8% |
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
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €46k ▲17.4%
Net result €46k, the highest in the series.
31-12
Financial
Equity above €150kEq €196k ▲30.6%
5 profitable years in a row build equity to €196k.
28-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100kEq €122k ▲23.4%
3 profitable years in a row build equity to €122k.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Ternat · 1 establishment unit since 2009
Ground area
1,285 m²
Building footprint
286 m²
Volume, LiDAR
1,675 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FORZA
since 20092.182.936.203
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23091C0206/00B000 | Flanders | 772 m² | 1 · 152 m² | 9.3 m · 2 fl. |
| 23091C0208/00G000 | Flanders | 514 m² | 1 · 134 m² | 7.6 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.
Similar companies · same sector, comparable size
Infinitas
BE 0665.777.910
Overijse · Eq €195,680
THE BLUE TARTINE COMPANY
BE 0521.878.311
Dilbeek · Eq €195,678
ELC
BE 0754.668.809
Peer · Eq €195,744
LH VAT CONSULT
BE 0475.997.113
Kortrijk · Eq €195,751
FVC Management
BE 0835.130.804
Oostende · Eq €195,754
Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 40,138 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
Founded05-08-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.