LJ FOREST
ActiveSummary
LJ FOREST has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €-12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 113 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+5
Solvency43=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity short (current ratio 0.97 against 0.75 in 2024; short-term debt: 44.7% and cash: 4.8% of total assets), and 81.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 02
Relative position
BE, all sectors
reference
Forestry and logging (NACE 02)
about 55% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
18.1%
Return on assets
-3.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-12k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 113 sector peers (2025).
NBB · sector comparisonPosition among 113 sector peers
Solvency
better than 19%
← 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 29-07-2026, 2 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
2 d early
2024
6 d early
2023
22 d early
2022
18 d early
2021
12 d early
2020
5 d early
2019
8 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-12k▲ 58.4%
2024 · €-29k
2018: €-9k
2019: €3k▲ +131% vs 2018
2020: €-11k▼ -468% vs 2019
2021: €9k▲ +184% vs 2020
2022: €79k▲ +764% vs 2021highest in 8 years
2023: €34k▼ -57.0% vs 2022
2024: €-29k▼ -185% vs 2023lowest in 8 years
2025: €-12k▲ +58.4% vs 2024
2018 → 2025
Working capital
€-5k▲ 83.1%
2024 · €-28k
2018: €-47k
2019: €-69k▼ -47.3% vs 2018
2020: €-84k▼ -22.1% vs 2019
2021: €-145k▼ -72.0% vs 2020lowest in 8 years
2022: €-15k▲ +89.6% vs 2021
2023: €-23k▼ -55.6% vs 2022
2024: €-28k▼ -20.7% vs 2023
2025: €-5k▲ +83.1% vs 2024highest 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€-12k-€67k€101k▲ 50.6%€72k▼ 28.7%€60k▼ 16.8%
2021: €-12klowest in 5 years
2022: €67k▲ +671% vs 2021
2023: €101k▲ +50.6% vs 2022highest in 5 years
2024: €72k▼ -28.7% vs 2023
2025: €60k▼ -16.8% vs 2024
Operating result€13k-€85k▲ 539%€40k▼ 52.2%€-20k€-5k▲ 74.7%
2021: €13k
2022: €85k▲ +539% vs 2021highest in 5 years
2023: €40k▼ -52.2% vs 2022
2024: €-20k▼ -149% vs 2023lowest in 5 years
2025: €-5k▲ +74.7% vs 2024
Net result€9k-€79k▲ 764%€34k▼ 57.0%€-29k€-12k▲ 58.4%
2021: €9k
2022: €79k▲ +764% vs 2021highest in 5 years
2023: €34k▼ -57.0% vs 2022
2024: €-29k▼ -185% vs 2023lowest in 5 years
2025: €-12k▲ +58.4% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2025 against €20k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €331k
Fixed assets
€188k ▼ 38.9%
Current assets
€143k ▲ 70.8%
Equity and liabilities €331k
Equity
€60k ▼ 16.8%
Debt
€271k ▼ 15.0%
Debt's share of the balance-sheet total rises from 81.6% to 81.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€118k▲
2024 · €103k
Cash flow
€111k▲
2024 · €94k
Current ratio
0.97▲
2024 · 0.75
Quick ratio
0.84▲
2024 · 0.75
Debt to equity
4.52▲
2024 · 4.43
ROE
-20.1%▲
2024 · -40.3%
ROA
-3.7%▲
2024 · -7.4%
Interest coverage
16.60▲
2024 · 11.07
Debt ≤ 1 year
€148k▲
2024 · €112k
Debt > 1 year
€123k▼
2024 · €207k
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€391k€331k▼
Fixed assets21/28€307k€188k▼
Tangible fixed assets22/27€307k€184k▼
Furniture and vehicles24€98k€38k▼
Leasing and similar rights25€209k€146k▼
Financial fixed assets28€0€3k▲
Current assets29/58€84k€143k▲
Stocks and contracts in progress3-€19k
Stocks30/36-€19k
Amounts receivable within one year40/41€58k€103k▲
Trade receivables40€49k€91k▲
Other amounts receivable41€9k€12k▲
Cash at bank and in hand54/58€21k€16k▼
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€391k€331k▼
Equity10/15€72k€60k▼
Contributions10/11€6k€6k=
Reserves13€66k€54k▼
Distributable reserves133€66k€54k▼
Amounts payable17/49€319k€271k▼
Amounts payable after more than one year17€207k€123k▼
Financial debts170/4€207k€123k▼
Other amounts payable178/9-€0
Amounts payable within one year42/48€112k€148k▲
Current portion of amounts payable after more than one year42€98k€84k▼
Trade debts44€14k€64k▲
Suppliers440/4€14k€64k▲
Taxes, remuneration and social security45€0€0=
Taxes450/3€0€0=
Accrued charges and deferred income492/3€42€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123k€123k=
Other operating charges640/8€387€732▲
Gross operating margin9900€103k€118k▲
Operating profit (loss)9901€-20k€-5k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€9k€7k▼
Recurring financial charges65€9k€7k▼
Profit (loss) for the period before taxes9903€-29k€-12k▲
Profit (loss) for the period9904€-29k€-12k▲
Profit (loss) for the period to be appropriated9905€-29k€-12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-29k€-12k▲
Transfer from equity791/2€95k€66k▼
Transfer to equity691/2€66k€54k▼
To other reserves6921€66k€54k▼
The notes to these accounts (17 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 | €81k | €76k | €104k | €123k | €123k | = |
| Other operating charges640/8 | €3k | €348 | €384 | €387 | €732 | ▲ 88.9% |
| Gross operating margin9900 | €97k | €161k | €145k | €103k | €118k | ▲ 14.6% |
| Operating profit (loss)9901 | €13k | €85k | €40k | €-20k | €-5k | ▲ 74.7% |
| Financial income75/76B | €0 | - | - | €0 | - | - |
| Recurring financial income75 | €0 | - | - | €0 | - | - |
| Financial charges65/66B | €4k | €6k | €7k | €9k | €7k | ▼ 23.8% |
| Recurring financial charges65 | €4k | €6k | €7k | €9k | €7k | ▼ 23.8% |
| Profit (loss) for the period before taxes9903 | €9k | €79k | €34k | €-29k | €-12k | ▲ 58.4% |
| Income taxes67/77 | - | - | €0 | - | - | - |
| Profit (loss) for the period9904 | €9k | €79k | €34k | €-29k | €-12k | ▲ 58.4% |
| Profit (loss) for the period to be appropriated9905 | €9k | €79k | €34k | €-29k | €-12k | ▲ 58.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €436k | €406k | €527k | €391k | €331k | ▼ 15.4% |
| Fixed assets21/28 | €378k | €219k | €429k | €307k | €188k | ▼ 38.9% |
| Tangible fixed assets22/27 | €378k | €219k | €429k | €307k | €184k | ▼ 40.0% |
| Furniture and vehicles24 | €295k | €219k | €157k | €98k | €38k | ▼ 60.6% |
| Leasing and similar rights25 | €83k | €0 | €273k | €209k | €146k | ▼ 30.3% |
| Financial fixed assets28 | - | - | - | €0 | €3k | - |
| Current assets29/58 | €58k | €187k | €98k | €84k | €143k | ▲ 70.8% |
| Stocks and contracts in progress3 | - | - | - | - | €19k | - |
| Stocks30/36 | - | - | - | - | €19k | - |
| Amounts receivable within one year40/41 | €34k | €142k | €77k | €58k | €103k | ▲ 78.5% |
| Trade receivables40 | €34k | €142k | €49k | €49k | €91k | ▲ 86.3% |
| Other amounts receivable41 | €6 | €8 | €28k | €9k | €12k | ▲ 36.7% |
| Cash at bank and in hand54/58 | €17k | €40k | €16k | €21k | €16k | ▼ 25.6% |
| Deferred charges and accrued income490/1 | €7k | €6k | €5k | €5k | €5k | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €436k | €406k | €527k | €391k | €331k | ▼ 15.4% |
| Equity10/15 | €-12k | €67k | €101k | €72k | €60k | ▼ 16.8% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | - | €61k | €95k | €66k | €54k | ▼ 18.4% |
| Distributable reserves133 | - | €61k | €95k | €66k | €54k | ▼ 18.4% |
| Profit (loss) carried forward14 | €-18k | €0 | - | - | - | - |
| Amounts payable17/49 | €448k | €339k | €426k | €319k | €271k | ▼ 15.0% |
| Amounts payable after more than one year17 | €245k | €137k | €305k | €207k | €123k | ▼ 40.5% |
| Financial debts170/4 | €245k | €137k | €305k | €207k | €123k | ▼ 40.5% |
| Other amounts payable178/9 | - | - | - | - | €0 | - |
| Amounts payable within one year42/48 | €203k | €202k | €121k | €112k | €148k | ▲ 32.0% |
| Current portion of amounts payable after more than one year42 | €88k | €45k | €96k | €98k | €84k | ▼ 15.0% |
| Trade debts44 | €18k | €80k | €25k | €14k | €64k | ▲ 373% |
| Suppliers440/4 | €18k | €80k | €25k | €14k | €64k | ▲ 373% |
| Taxes, remuneration and social security45 | €8k | €27k | €0 | €0 | €0 | - |
| Taxes450/3 | €8k | €27k | €0 | €0 | €0 | - |
| Other amounts payable47/48 | €90k | €50k | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €44 | €42 | €42 | €42 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €79k | €34k | €-29k | €-12k | ▲ 58.4% |
| + Depreciation and write-downs630 | €81k | €76k | €104k | €123k | €123k | = |
| Operating cash flow (approximation) | €90k | €155k | €138k | €94k | €111k | ▲ 18.1% |
| Investment in fixed assets (approximation) | - | €83k | €-314k | €0 | €-3k | - |
| Change in cash | - | €22k | €-23k | €5k | €-5k | ▼ 206% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-29k
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €100kEq €101k ▲50.6%
3 profitable years in a row build equity to €101k.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €79k ▲764%
Operating result €85k, net result €79k, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Directors · office · real estate
Directors
3 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, Nandrin · 1 establishment unit since 2017
Ground area
1.3 ha
Building footprint
825 m²
Volume, LiDAR
5,881 m³
2 parcels, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LJ FOREST
since 20172.264.708.389
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61069B0048/00Z000 | Wallonia | 1.1 ha | 1 · 258 m² | 10.2 m · 3 fl. |
| 64065D0330/00P002 | Wallonia | 1,674 m² | 1 · 566 m² | 8.2 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.
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Of 1,556 companies in sector 02200 we hold annual accounts for 449. 280 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
Founded31-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
02200Logging
02400Forestry and logging
77310Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.