GREEN FOREST
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 8 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 29-06-2023, 32 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
32 d early
2021
37 d early
2020
28 d early
2019
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 30 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, full schema
Turnover
€4.9m▲ 9.6%
2021 · €4.5m
EBIT margin
36.2%▼ 4.5pp
2021 · 40.6%
Net result
€2.2m▼ 30.0%
2021 · €3.2m
Working capital
-€48.8m▼ 587%
2021 · -€7.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Turnover€5.2m-€2.4m▼ 54.4%€4.0m▲ 68.7%€4.5m▲ 10.9%€4.9m▲ 9.6%
Operating result€3.4m-€104,317▼ 97.0%€1.8m▲ 1,590%€1.8m▲ 2.6%€1.8m▼ 2.4%
Net result€1.9m-€41.6m▲ 2,133%€3.1m▼ 92.6%€3.2m▲ 3.4%€2.2m▼ 30.0%
EBIT margin66.0%-4.4%▼ 61.6pp43.9%▲ 39.5pp40.6%▼ 3.3pp36.2%▼ 4.5pp
Equity€11.9m-€53.6m▲ 349%€56.7m▲ 5.8%€59.9m▲ 5.7%€17.5m▼ 70.8%
Total assets€40.9m-€81.1m▲ 98.3%€83.9m▲ 3.4%€83.1m▼ 0.9%€84.1m▲ 1.2%
Debt€29.0m-€27.5m▼ 4.9%€27.2m▼ 1.2%€23.2m▼ 14.7%€66.6m▲ 187%
Working capital-€4.7m--€8.5m▼ 78.8%-€7.9m▲ 6.9%-€7.1m▲ 10.0%-€48.8m▼ 587%
Staff (FTE)13.5-14.6▲ 8.1%13.8▼ 5.5%17.4▲ 26.1%19.8▲ 13.8%
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 2% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €84.1m
Fixed assets
€81.0m ▼ 0.1%
Current assets
€3.1m ▲ 51.1%
Equity and liabilities €84.1m
Equity
€17.5m ▼ 70.8%
Debt
€66.6m ▲ 187%
Debt's share of the balance-sheet total rises from 27.9% to 79.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1.8m▼
2021 · €1.9m
Cash flow
€2.3m▼
2021 · €3.3m
Current ratio
0.06▼
2021 · 0.22
Debt to equity
3.81▲
2021 · 0.39
ROE
12.9%▲
2021 · 5.4%
ROA
2.7%▼
2021 · 3.9%
Interest coverage
1.33▼
2021 · 3.93
Debt ≤ 1 year
€51.8m▲
2021 · €9.1m
Debt > 1 year
€14.8m▲
2021 · €14.1m
Income taxes
€5,099▼
2021 · €25,094
Staff costs
€1.5m▲
2021 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €4.5m | €5.0m | ▲ 10.3% |
| Turnover70 | €5.2m | €2.4m | €4.0m | €4.5m | €4.9m | ▲ 9.6% |
| Other operating income74 | - | - | - | €45,377 | €66,054 | ▲ 45.6% |
| Non-recurring operating income76A | - | - | - | - | €14,775 | - |
| Operating charges60/66A | - | - | - | €2.7m | €3.2m | ▲ 18.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €10,129 | €9,698 | ▼ 4.3% |
| Purchases600/8 | - | - | - | €10,129 | €9,698 | ▼ 4.3% |
| Services and other goods61 | - | - | - | €1.4m | €1.6m | ▲ 15.8% |
| Remuneration, social security and pensions62 | - | - | - | €1.2m | €1.5m | ▲ 23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,702 | €17,002 | €52,081 | €58,455 | €58,455 | = |
| Other operating charges640/8 | - | - | - | €14,066 | €7,909 | ▼ 43.8% |
| Non-recurring operating charges66A | - | - | - | €447 | €14,724 | ▲ 3,196% |
| Operating profit (loss)9901 | €3.4m | €104,317 | €1.8m | €1.8m | €1.8m | ▼ 2.4% |
| Financial income75/76B | - | - | - | €2.0m | €2.0m | = |
| Recurring financial income75 | €488 | €42.3m | €2.0m | €2.0m | €2.0m | = |
| Income from financial fixed assets750 | - | - | - | €2.0m | €2.0m | = |
| Other financial income752/9 | - | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €578,504 | €1.5m | ▲ 162% |
| Recurring financial charges65 | €1.5m | €800,552 | €699,329 | €578,504 | €1.5m | ▲ 162% |
| Debt charges650 | €1.5m | €707,052 | €611,389 | €475,519 | €1.4m | ▲ 189% |
| Other financial charges652/9 | - | - | - | €102,985 | €140,011 | ▲ 36.0% |
| Profit (loss) for the period before taxes9903 | €2.0m | €41.6m | €3.1m | €3.2m | €2.2m | ▼ 30.3% |
| Income taxes67/77 | €95,519 | €2,991 | €10,897 | €25,094 | €5,099 | ▼ 79.7% |
| Taxes670/3 | - | - | - | €25,094 | €5,099 | ▼ 79.7% |
| Profit (loss) for the period9904 | €1.9m | €41.6m | €3.1m | €3.2m | €2.2m | ▼ 30.0% |
| Profit (loss) for the period to be appropriated9905 | €1.9m | €41.6m | €3.1m | €3.2m | €2.2m | ▼ 30.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40.9m | €81.1m | €83.9m | €83.1m | €84.1m | ▲ 1.2% |
| Fixed assets21/28 | €38.1m | €81.0m | €81.2m | €81.1m | €81.0m | ▼ 0.1% |
| Intangible fixed assets21 | - | - | €15,834 | €8,529 | €1,225 | ▼ 85.6% |
| Tangible fixed assets22/27 | €143,753 | €72,495 | €217,048 | €151,973 | €100,822 | ▼ 33.7% |
| Furniture and vehicles24 | - | - | - | €3,299 | €477 | ▼ 85.6% |
| Leasing and similar rights25 | - | - | - | €148,674 | €100,345 | ▼ 32.5% |
| Financial fixed assets28 | €38.0m | €80.9m | €80.9m | €80.9m | €80.9m | = |
| Affiliated companies280/1 | - | - | - | €80.9m | €80.9m | = |
| Participating interests280 | - | - | - | €80.9m | €80.9m | = |
| Current assets29/58 | €2.8m | €118,936 | €2.7m | €2.0m | €3.1m | ▲ 51.1% |
| Amounts receivable within one year40/41 | €2.4m | €109,737 | €2.2m | €1.6m | €1.5m | ▼ 3.9% |
| Trade receivables40 | - | - | - | €1.6m | €1.3m | ▼ 17.0% |
| Other amounts receivable41 | - | - | - | €1,241 | €211,476 | ▲ 16,947% |
| Cash at bank and in hand54/58 | €436,430 | €7,797 | €533,048 | €425,754 | €231,793 | ▼ 45.6% |
| Deferred charges and accrued income490/1 | - | - | - | €307 | €1.3m | ▲ 420,653% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40.9m | €81.1m | €83.9m | €83.1m | €84.1m | ▲ 1.2% |
| Equity10/15 | €11.9m | €53.6m | €56.7m | €59.9m | €17.5m | ▼ 70.8% |
| Contributions10/11 | €13.2m | €13.2m | €13.2m | €13.2m | €13.2m | = |
| Capital10 | - | - | - | €13.2m | €13.2m | = |
| Issued capital100 | - | - | - | €13.2m | €13.2m | = |
| Reserves13 | - | €40.4m | €43.5m | €46.7m | €4.3m | ▼ 90.9% |
| Non-distributable reserves130/1 | - | - | - | €2.0m | €2.0m | = |
| Legal reserve130 | - | - | - | €2.0m | €2.0m | = |
| Distributable reserves133 | - | - | - | €44.7m | €2.2m | ▼ 95.0% |
| Profit (loss) carried forward14 | -€1.3m | -€3.1m | -€1.3m | - | - | - |
| Amounts payable17/49 | €29.0m | €27.5m | €27.2m | €23.2m | €66.6m | ▲ 187% |
| Amounts payable after more than one year17 | €21.3m | €18.9m | €16.5m | €14.1m | €14.8m | ▲ 5.2% |
| Financial debts170/4 | - | - | - | €14.1m | €14.8m | ▲ 5.2% |
| Leasing and similar obligations172 | - | - | - | €61,807 | €8,636 | ▼ 86.0% |
| Other loans174 | - | - | - | €14.0m | €14.8m | ▲ 5.6% |
| Amounts payable within one year42/48 | €7.5m | €8.6m | €10.6m | €9.1m | €51.8m | ▲ 468% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2.5m | €53,170 | ▼ 97.8% |
| Financial debts43 | - | - | - | €5,843 | - | - |
| Credit institutions430/8 | - | - | - | €5,843 | - | - |
| Trade debts44 | €228,281 | €335,310 | €881,151 | €1.1m | €2.5m | ▲ 139% |
| Suppliers440/4 | - | - | - | €1.1m | €2.5m | ▲ 139% |
| Taxes, remuneration and social security45 | - | - | - | €175,402 | €222,160 | ▲ 26.7% |
| Taxes450/3 | - | - | - | €35,310 | €24,944 | ▼ 29.4% |
| Remuneration and social security454/9 | - | - | - | €140,092 | €197,216 | ▲ 40.8% |
| Other amounts payable47/48 | - | - | - | €5.4m | €49.0m | ▲ 804% |
| Accrued charges and deferred income492/3 | - | - | - | €16,902 | €900 | ▼ 94.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.9m | €41.6m | €3.1m | €3.2m | €2.2m | ▼ 30.0% |
| + Depreciation and write-downs630 | €19,702 | €17,002 | €52,081 | €58,455 | €58,455 | = |
| Operating cash flow (approximation) | €1.9m | €41.7m | €3.2m | €3.3m | €2.3m | ▼ 29.4% |
| Investment in fixed assets (approximation) | - | -€42.9m | -€192,467 | €13,924 | €0 | ▼ 100% |
| Change in cash | - | -€428,633 | €525,251 | -€107,294 | -€193,961 | ▼ 80.8% |
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
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
23-01
State Gazette act
Board meeting · Permanent representative
Director resignation · General meeting
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
03-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €41.6m ▲2,133%
Net result €41.6m, the highest in the series.
31-12
Financial
Equity above €50mEq €53.6m ▲349%
2 profitable years in a row build equity to €53.6m.
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 holding · 6 subsidiaries in the treeOwners 0
The accounts to 31-12-2022 list no shareholders, and no other source names one.
Holdings 1
-
100%
All subsidiaries, including indirect ones 6
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
TRUSTTEAM 100%5 subsidiaries
- ACSONE 100%
- TRUSTTEAM SASFR 100%
TRUSTTEAM WALLONIE 100%1 subsidiary
- GHALAN 100%
- XOFIN SRLRO 100%
According to the 2022 annual accounts of GREEN FOREST and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
894500JDI13LSFA2KV13