Equity
€1.9m ▲ 2.3%
FORWARD has made a profit in every financial year since 2006.
FORWARD
Lifetime
20 annual accounts with figures on one time axis, 30 filings since 1996peak €1.2m (2009)
-not published
peak €993,638 (2022)
€41,934▼ 40.6%
peak €1.9m (2025)
€1.9m▲ 2.3%
€1.6m▲ 80.1%
peak 29.8 FTE (2009)
-not published
Board3 names since 2018
1 directorSPRL INVEST'X
Owners
100%INVEST'X
Documentsfilings and deeds
31-08-202631 days late
2025financial year
Result from €70,587 to €41,934Debts from €890,651 to €1.6mInvestments €426,050Cash from €20,736 to €27,549
Key points
from the 2025 annual accountsChecked score
92
Excellent
Financially stronger than 47% of small companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.3%▲ +0.1 percentage points vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.3%▼ -0.2 percentage points vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.1%▼ -0.2 percentage points vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.2 percentage points vs 07-2026
09-2026: 0.1%▼ -0.2 percentage points vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 1.41, cash €27,549
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
lowers risk
Size: turnover €9,651, total assets €3.5m
Figures for financial year 2025 (filed on 04-09-2026)
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 (NACE 70, small). It does better than 51% of them on solvency, 15% on liquidity, 79% on profitability and 44% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as FORWARD has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FORWARD itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 14,766 companies, not a prediction for FORWARD. 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.
Credit verdict
Credit of up to €500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.41 (2.34 in 2024), below the usual 1.5. Short-term debt is 44.1% and cash 0.8% of total assets. 46.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
30 days late
2023
14 days late
2022
31 days late
2021
3 days late
2020
30 days late
2019
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 24 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0455995812
Registered office moved from Wandre to Blegny
New registered office: rue Haute-Salve 55C, 4671 Blegny (Saive) · Previous registered office: Chemin de Rabosée 107 à 4020 WANDRE · Resignation: INVEST'X (director) · Gazette deed
Appointment: Xavier VAESEN (manager)
Permanent representative: Xavier VAESEN · General meeting of 07-03-2019 · Gazette deed
Registered office moved to Wandre
New registered office: Chemin de Rabosée 107 à 4020 WANDRE · Resignation: Roland VAESEN (manager) · Appointment: SPRL INVEST'X (manager) · General meeting of 28-06-2018 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FORWARD Blegny | €9,651 | - | 53.8% | - |
| RICAREL Mechelen | €34,800 | -55.0% | 11.4% | - |
| UNIFERT GROUP Ixelles | €67,814 | -83.2% | 98.4% | 3.1 |
| WOODSTOCK INTERNATIONAL Turnhout | €18,000 | 10.3% | 99.6% | - |
| H M & P Amblève | - | - | 52.4% | - |
| S.G.A.M. Eupen | - | - | 79.0% | - |
| BRICO INVEST Oupeye | - | - | 52.2% | 1.9 |
These companies have the same main activity as FORWARD: activities of head offices (NACE 70100). They are comparable in size and age: total assets between €467,000 and €10m, founded between 1985 and 1999.
Official details
Source: KBO- Status
- Active since 26-09-1995Normal situation
- Activity
- Activities of head officesNACE 70100
- Establishment unit
- 2.073.748.8454671 Blegny, since 19-10-1995
- Financial year end
- 31 December
- Peppol
- Reachable since 16-12-2025
Insights on FORWARD
FORWARD has existed since 1995. The gross margin fell from €1.2m in 2010 to €141,053 in 2011.
Solvency fell in 2025 from 67.2% to 53.8%.
INVEST'X holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about FORWARD
- What is the company number of FORWARD?
- The company number of FORWARD is 0455.995.812. The VAT number is the same number with BE in front: BE 0455.995.812.
- Where is FORWARD based?
- The registered office is at Rue Haute-Saive 55C, 4671 Blegny.Company details
- What does FORWARD do?
- According to the KBO register, the main activity is activities of head offices (NACE 70100).
- What is the legal form of FORWARD?
- FORWARD is a private limited company (BV).
- When was FORWARD founded?
- FORWARD was founded on 26-09-1995.
- Is FORWARD still active?
- Yes, FORWARD is an active enterprise in the KBO register.
- What is the turnover of FORWARD?
- The turnover of FORWARD was €9,651 in financial year 2025, according to the filed annual accounts.Financials
- Is FORWARD profitable?
- In financial year 2025, FORWARD made a profit of €41,934.
- Where can I find the annual accounts of FORWARD?
- FORWARD filed 30 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FORWARD due?
- FORWARD must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See the other companies in the same group.INVEST'X · 6 companies Compare this company with its sector.Sector benchmark
See how customers, suppliers and banks see your own company and what to improve first.