VIRGIN FOREST
ActiveSummary
VIRGIN FOREST has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €90,267 and a net result of €5,761. Equity is growing by ~22.6% per year across the filed fiscal years. Its solvency ranks better than 45% of 4600 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+3
Solvency61▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.28 against 1.46 in 2024; short-term debt: 31.4% and cash: 0.9% of total assets), and 64.1% of the assets are financed with debt.
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Signals
Five 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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← 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
35.9%
Return on assets
2.3%
Age of the figures
9 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 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
25 d late
2023
26 d late
2022
18 d early
2021
37 d early
2020
28 d late
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
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. Usually files around 17 July (4 of the last 5 filed years within 39 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€90,267▲ 6.8%
2024 · €84,506
Total assets
€251,135▼ 17.8%
2024 · €305,460
Net result
€5,761▲ 1,321%
2024 · €405
Working capital
€22,045▼ 43.0%
2024 · €38,662
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€50,285▲ 788%€24,320▼ 51.6%€7,513▼ 69.1%€6,281▼ 16.4%€10,149▲ 61.6%
Net result€48,873above the sector's middle half▲ 1,467%€22,124within the sector's middle half▼ 54.7%€2,144within the sector's middle half▼ 90.3%€405within the sector's middle half▼ 81.1%€5,761within the sector's middle half▲ 1,321%
Equity€59,832within the sector's middle half▲ 446%€81,956within the sector's middle half▲ 37.0%€84,100within the sector's middle half▲ 2.6%€84,506within the sector's middle half▲ 0.5%€90,267within the sector's middle half▲ 6.8%
Total assets€236,019within the sector's middle half▲ 6.6%€265,549within the sector's middle half▲ 12.5%€324,378above the sector's middle half▲ 22.2%€305,460above the sector's middle half▼ 5.8%€251,135within the sector's middle half▼ 17.8%
Debt€176,186▼ 16.3%€183,593▲ 4.2%€240,278▲ 30.9%€220,954▼ 8.0%€160,868▼ 27.2%
Working capital-€11,289below the sector's middle half▲ 63.8%€13,707within the sector's middle half€15,447within the sector's middle half▲ 12.7%€38,662within the sector's middle half▲ 150%€22,045within the sector's middle half▼ 43.0%
Solvency25.4%within the sector's middle half▲ 20.4pp30.9%within the sector's middle half▲ 5.5pp25.9%within the sector's middle half▼ 4.9pp27.7%within the sector's middle half▲ 1.7pp35.9%within the sector's middle half▲ 8.3pp
Current ratio0.85below the sector's middle half▲ 0.311.16within the sector's middle half▲ 0.311.13within the sector's middle half▼ 0.031.46within the sector's middle half▲ 0.331.28within the sector's middle half▼ 0.18
Return on assets (ROA)20.7%above the sector's middle half▲ 19.3pp8.3%within the sector's middle half▼ 12.4pp0.7%within the sector's middle half▼ 7.7pp0.1%within the sector's middle half▼ 0.5pp2.3%within the sector's middle half▲ 2.2pp
Staff (FTE)0.2▼ 81.8%1.7▲ 750%
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 62% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €251,135
Fixed assets
€150,273 ▼ 17.7%
Current assets
€100,862 ▼ 17.9%
Equity and liabilities €251,135
Equity
€90,267 ▲ 6.8%
Debt
€160,868 ▼ 27.2%
Debt's share of the balance-sheet total falls from 72.3% to 64.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€49,716▲
2024 · €43,087
Cash flow
€45,329▲
2024 · €37,211
Quick ratio
0.60▼
2024 · 0.85
Debt to equity
1.78▼
2024 · 2.61
ROE
6.4%▲
2024 · 0.5%
Interest coverage
9.13▲
2024 · 6.29
Debt ≤ 1 year
€78,817▼
2024 · €84,213
Debt > 1 year
€81,764▼
2024 · €134,072
Staff costs
€864▼
2024 · €936
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €614 | - | - |
| Remuneration, social security and pensions62 | €9,250 | €39,261 | €1,331 | €936 | €864 | ▼ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,597 | €23,105 | €36,795 | €36,806 | €39,567 | ▲ 7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €2,379 | - |
| Other operating charges640/8 | €949 | €673 | €1,434 | €387 | €548 | ▲ 41.4% |
| Gross operating margin9900 | €91,082 | €87,358 | €47,072 | €44,410 | €53,507 | ▲ 20.5% |
| Operating profit (loss)9901 | €50,285 | €24,320 | €7,513 | €6,281 | €10,149 | ▲ 61.6% |
| Financial income75/76B | €34 | €29 | €519 | €980 | €1,059 | ▲ 8.0% |
| Recurring financial income75 | €34 | €29 | €519 | €980 | €1,059 | ▲ 8.0% |
| Financial charges65/66B | €1,446 | €2,225 | €5,887 | €6,855 | €5,447 | ▼ 20.5% |
| Recurring financial charges65 | €1,446 | €2,225 | €5,887 | €6,855 | €5,447 | ▼ 20.5% |
| Profit (loss) for the period before taxes9903 | €48,873 | €22,124 | €2,144 | €405 | €5,761 | ▲ 1,321% |
| Profit (loss) for the period9904 | €48,873 | €22,124 | €2,144 | €405 | €5,761 | ▲ 1,321% |
| Profit (loss) for the period to be appropriated9905 | €48,873 | €22,124 | €2,144 | €405 | €5,761 | ▲ 1,321% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €236,019 | €265,549 | €324,378 | €305,460 | €251,135 | ▼ 17.8% |
| Fixed assets21/28 | €171,176 | €164,653 | €191,294 | €182,584 | €150,273 | ▼ 17.7% |
| Tangible fixed assets22/27 | €170,994 | €164,470 | €191,111 | €182,402 | €150,090 | ▼ 17.7% |
| Land and buildings22 | €137,670 | €147,597 | €134,441 | €121,285 | €108,129 | ▼ 10.8% |
| Plant, machinery and equipment23 | €16,146 | €10,600 | €8,278 | €30,015 | €23,573 | ▼ 21.5% |
| Furniture and vehicles24 | €17,178 | €6,274 | €48,392 | €31,101 | €18,388 | ▼ 40.9% |
| Financial fixed assets28 | €183 | €183 | €183 | €183 | €183 | = |
| Current assets29/58 | €64,842 | €100,896 | €133,084 | €122,875 | €100,862 | ▼ 17.9% |
| Stocks and contracts in progress3 | - | - | €26,750 | €51,375 | €53,488 | ▲ 4.1% |
| Stocks30/36 | - | - | €26,750 | €51,375 | €53,488 | ▲ 4.1% |
| Amounts receivable within one year40/41 | €60,316 | €95,915 | €100,608 | €64,321 | €44,563 | ▼ 30.7% |
| Trade receivables40 | €60,316 | €82,010 | €100,608 | €34,415 | €38,776 | ▲ 12.7% |
| Other amounts receivable41 | - | €13,906 | - | €29,906 | €5,787 | ▼ 80.6% |
| Cash at bank and in hand54/58 | €3,529 | €1,136 | €3,633 | €5,774 | €2,198 | ▼ 61.9% |
| Deferred charges and accrued income490/1 | €997 | €3,844 | €2,092 | €1,404 | €613 | ▼ 56.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €236,019 | €265,549 | €324,378 | €305,460 | €251,135 | ▼ 17.8% |
| Equity10/15 | €59,832 | €81,956 | €84,100 | €84,506 | €90,267 | ▲ 6.8% |
| Contributions10/11 | €131,583 | €131,583 | €131,583 | €131,583 | €131,583 | = |
| Profit (loss) carried forward14 | -€71,751 | -€49,627 | -€47,483 | -€47,077 | -€41,316 | ▲ 12.2% |
| Amounts payable17/49 | €176,186 | €183,593 | €240,278 | €220,954 | €160,868 | ▼ 27.2% |
| Amounts payable after more than one year17 | €98,645 | €94,547 | €120,118 | €134,072 | €81,764 | ▼ 39.0% |
| Financial debts170/4 | €9,920 | €31,315 | €49,886 | €46,090 | €20,668 | ▼ 55.2% |
| Other amounts payable178/9 | €88,725 | €63,232 | €70,232 | €87,982 | €61,096 | ▼ 30.6% |
| Amounts payable within one year42/48 | €76,131 | €87,188 | €117,637 | €84,213 | €78,817 | ▼ 6.4% |
| Current portion of amounts payable after more than one year42 | €9,991 | €15,099 | €23,960 | €25,983 | €25,422 | ▼ 2.2% |
| Financial debts43 | - | €21,057 | €5,000 | €25,049 | €5,000 | ▼ 80.0% |
| Credit institutions430/8 | - | €21,057 | €5,000 | €25,049 | €5,000 | ▼ 80.0% |
| Trade debts44 | €41,877 | €24,939 | €71,229 | €12,180 | €45,674 | ▲ 275% |
| Suppliers440/4 | €41,877 | €24,939 | €71,229 | €12,180 | €45,674 | ▲ 275% |
| Advances received on contracts in progress46 | - | - | €16,000 | €16,000 | - | - |
| Taxes, remuneration and social security45 | €8,883 | €11,780 | €691 | - | €2,721 | - |
| Taxes450/3 | €7,452 | €7,037 | €691 | - | €2,721 | - |
| Remuneration and social security454/9 | €1,431 | €4,743 | - | - | - | - |
| Other amounts payable47/48 | €15,380 | €14,313 | €757 | €5,000 | - | - |
| Accrued charges and deferred income492/3 | €1,410 | €1,857 | €2,522 | €2,669 | €287 | ▼ 89.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,873 | €22,124 | €2,144 | €405 | €5,761 | ▲ 1,321% |
| + Depreciation and write-downs630 | €30,597 | €23,105 | €36,795 | €36,806 | €39,567 | ▲ 7.5% |
| Operating cash flow (approximation) | €79,470 | €45,229 | €38,939 | €37,211 | €45,329 | ▲ 21.8% |
| Investment in fixed assets (approximation) | - | -€16,581 | -€63,436 | -€28,096 | -€7,256 | ▲ 74.2% |
| Change in cash | - | -€2,393 | €2,497 | €2,141 | -€3,576 | ▼ 267% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €48,873 ▲1,467%
Operating result €50,285, net result €48,873, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
2019
31-12
Financial
Back to profitnet €1,138
Net result €1,138 after one loss-making year.
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
30-06
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 5 acts read
About the unread acts
We know of 5 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
5 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, Genappe · 1 establishment unit since 2013
Ground area
4,003 m²
Building footprint
152 m²
Volume, LiDAR
741 m³
Parcel 25013B0111/00G002, Wallonia · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Drève Emmanuelle 22, 1470 Genappe
since 20132.221.297.822
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25013B0111/00G002 | Wallonia | 4,003 m² | 1 · 152 m² | 6.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 21,212 companies in sector 81300 we hold annual accounts for 4,368. 3,633 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
Founded23-07-2013
Fiscal year end31-12
Abbreviation FR
NATURAL SOLUTIONS
Activities, NACEBEL 2025
81300Landscape service activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0536876885
Registered
13-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.