Forena
0425.410.920 · rovalta.com · 23/09/2026
ACTIVE
Forena
Financial year 2025 · closed on 31/12/2025
Net result
649,6 k €
-31.5% YoY
Revenue
16,3 M €
+15.4% YoY
Equity
20,1 M €
+8.3% YoY
Workforce
708,7 ETP
+25.5% YoY
Overview
What does Forena do?
Forena is a Non-profit organization incorporated in 1984. Its main activity is: Technical and vocational secondary education. Its registered office is in Menen. It employs on average 708,7 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0425.410.920
Incorporation
01/03/1984
Legal form
Non-profit organization
Registered office
Industrielaan 32
8930 Menen · FlandreSee on map
8930 Menen · FlandreSee on map
Latest accounts
31/12/2025
Average workforce
708,7 ETP
Activities (NACE)
Joint committees (1)
- 32701
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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Financials
Trend over 17 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||
| Revenue | 16,3 M € | +15.4% | 14,1 M € | -8.0% | 15,4 M € | +1.2% | 15,2 M € | -2.3% | 15,5 M € | +26.1% | 12,3 M € | -5.3% | 13 M € | -0.9% | 13,1 M € | +4.6% | 12,5 M € | +0.8% | 12,4 M € | +0.5% | 12,4 M € | +10.8% | 11,2 M € | +2.9% | 10,9 M € | +0.0% | 10,8 M € | +9.1% | 9,9 M € | +4.6% | 9,5 M € | +18.6% | 8 M € |
| EBITDA | 2,3 M € | +5.3% | 2,2 M € | -29.8% | 3,1 M € | +26.1% | 2,5 M € | -2.1% | 2,5 M € | -1.6% | 2,6 M € | +19.6% | 2,2 M € | +20.8% | 1,8 M € | +25.7% | 1,4 M € | -10.9% | 1,6 M € | +42.8% | 1,1 M € | +19.1% | 942,4 k € | +189% | 326,5 k € | -56.4% | 748,7 k € | +14.1% | 656,1 k € | -11.1% | 737,6 k € | +13.9% | 647,8 k € |
| Operating result | 632,6 k € | -26.2% | 856,8 k € | -53.9% | 1,9 M € | +43.7% | 1,3 M € | -18.6% | 1,6 M € | -3.4% | 1,6 M € | +29.6% | 1,3 M € | +36.7% | 928,5 k € | +58.1% | 587,1 k € | +12.1% | 523,9 k € | +70.2% | 307,9 k € | +23.6% | 249,1 k € | +173% | -338,9 k € | -650% | 61,6 k € | +107% | 29,7 k € | -84.7% | 194,2 k € | +727% | 23,5 k € |
| Net result | 649,6 k € | -31.5% | 948,7 k € | -52.2% | 2 M € | +84.1% | 1,1 M € | -31.2% | 1,6 M € | +1.0% | 1,6 M € | +28.0% | 1,2 M € | +25.0% | 970,2 k € | +26.7% | 765,6 k € | +42.6% | 537 k € | +55.4% | 345,6 k € | -29.5% | 489,9 k € | +387% | -171 k € | -159% | 288,3 k € | +73.4% | 166,2 k € | -40.9% | 281,3 k € | -1.5% | 285,6 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||
| Equity | 20,1 M € | +8.3% | 18,6 M € | +6.0% | 17,5 M € | +12.7% | 15,6 M € | +7.4% | 14,5 M € | +12.1% | 12,9 M € | +13.5% | 11,4 M € | +11.7% | 10,2 M € | +10.0% | 9,3 M € | +6.6% | 8,7 M € | +5.4% | 8,3 M € | +3.2% | 8 M € | +5.3% | 7,6 M € | -2.6% | 7,8 M € | +2.8% | 7,6 M € | +6.3% | 7,1 M € | +4.3% | 6,8 M € |
| Total assets | 30,1 M € | +15.5% | 26 M € | +2.9% | 25,3 M € | +8.4% | 23,3 M € | +1.6% | 23 M € | +9.2% | 21 M € | +2.7% | 20,5 M € | +3.3% | 19,8 M € | +7.0% | 18,5 M € | -0.1% | 18,5 M € | +13.6% | 16,3 M € | +11.1% | 14,7 M € | +3.3% | 14,2 M € | +4.5% | 13,6 M € | -2.7% | 14 M € | +8.4% | 12,9 M € | +4.7% | 12,3 M € |
| Cash | 4,4 M € | +2.1% | 4,3 M € | +33.1% | 3,3 M € | -18.0% | 4 M € | -0.3% | 4 M € | -41.9% | 6,8 M € | +107% | 3,3 M € | +23.1% | 2,7 M € | -52.4% | 5,7 M € | +50.1% | 3,8 M € | +21.1% | 3,1 M € | +2.1% | 3 M € | +44.3% | 2,1 M € | +5.1% | 2 M € | -43.3% | 3,5 M € | -31.7% | 5,2 M € | +0.1% | 5,2 M € |
| Debts | 8,7 M € | +41.8% | 6,1 M € | -5.1% | 6,4 M € | -2.2% | 6,6 M € | -10.9% | 7,4 M € | +6.1% | 7 M € | -11.9% | 7,9 M € | -5.1% | 8,3 M € | +2.9% | 8,1 M € | -4.8% | 8,5 M € | +23.7% | 6,9 M € | +19.5% | 5,8 M € | -4.0% | 6 M € | +14.9% | 5,2 M € | -10.9% | 5,9 M € | +12.9% | 5,2 M € | +7.3% | 4,8 M € |
| Other | |||||||||||||||||||||||||||||||||
| Workforce | 708,7 ETP | +25.5% | 564,6 ETP | +0.6% | 561,1 ETP | -3.3% | 580,1 ETP | -3.1% | 598,7 ETP | +3.5% | 578,3 ETP | -0.4% | 580,6 ETP | +1.8% | 570,1 ETP | -3.7% | 591,7 ETP | +0.1% | 591,1 ETP | +1.9% | 579,9 ETP | +1.6% | 570,8 ETP | -2.5% | 585,4 ETP | +3.4% | 566,2 ETP | +1.7% | 556,6 ETP | +1.9% | 546,2 ETP | +3.7% | 526,9 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 25 M€ and 50 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 8 active · 36 ended
Active mandates
Active
Active
Active
Luk Dombrecht
ActiveMarc Bonte
ActiveFrank Moerman
ActiveHeleen Deblaere
ActiveSerge Deboever
ActiveEnded mandates
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
Platform Grensland Menen-Wervik● Active | 0831.039.877 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Full model | Full model | Full model | Full model | Full model | Full model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 06/05/2026 | 28/05/2025 | 17/05/2024 | 15/05/2023 | 23/05/2022 | 27/05/2021 |
| General meeting | 27/04/2026 | 28/04/2025 | 22/04/2024 | 24/04/2023 | 25/04/2022 | 19/04/2021 |
| Currency of the financial year | EUR | EUR | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Ratios
Financial ratios
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
22 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 27/04/2026 | 06/05/2026 | Dutch | |
| Full model | 31/12/2024 | 28/04/2025 | 28/05/2025 | Dutch | |
| Full model | 31/12/2023 | 22/04/2024 | 17/05/2024 | Dutch | |
| Full model | 31/12/2022 | 24/04/2023 | 15/05/2023 | Dutch | |
| Full model | 31/12/2021 | 25/04/2022 | 23/05/2022 | Dutch | |
| Full model | 31/12/2020 | 19/04/2021 | 27/05/2021 | Dutch | |
| Full modelCorrection | 31/12/2019 | 20/04/2020 | 05/02/2021 | Dutch | |
| Full model | 31/12/2019 | 20/04/2020 | 30/06/2020 | Dutch | |
| Full model | 31/12/2018 | 29/04/2019 | 06/06/2019 | Dutch | |
| Full model | 31/12/2017 | 23/04/2018 | 23/05/2018 | Dutch | |
| Full model | 31/12/2016 | 24/04/2017 | 07/06/2017 | Dutch | |
| Full model | 31/12/2015 | 18/04/2016 | 24/05/2016 | Dutch | |
| Full model | 31/12/2014 | 20/04/2015 | 29/05/2015 | Dutch | |
| Full model | 31/12/2013 | 14/04/2014 | 13/05/2014 | Dutch | |
| Full modelCorrection | 31/12/2012 | 15/04/2013 | 29/10/2013 | Dutch | |
| Full model | 31/12/2012 | 15/04/2013 | 15/05/2013 | Dutch | |
| Full model | 31/12/2011 | 16/04/2012 | 24/04/2012 | Dutch | |
| Full model | 31/12/2010 | 09/05/2011 | 20/06/2011 | Dutch | |
| Full model | 31/12/2009 | 12/04/2010 | 26/04/2010 | Dutch | |
| Full model | 31/12/2008 | 16/04/2009 | 26/05/2009 | Dutch | |
| Full model | 31/12/2007 | 17/04/2008 | 16/05/2008 | Dutch | |
| Full model | 31/12/2006 | 19/04/2007 | 13/07/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 25 M€ and 50 M€
The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 8 active · 36 ended
Active mandates
Active
Active
Active
Luk Dombrecht
ActiveMarc Bonte
ActiveFrank Moerman
ActiveHeleen Deblaere
ActiveSerge Deboever
ActiveEnded mandates
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Other14/01/2026STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Other17/01/2025BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Mandates19/07/2024ONTSLAGEN - BENOEMINGEN
- Mandates07/07/2022ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Mandates21/01/2022ONTSLAGEN - BENOEMINGEN
- Mandates16/09/2021ONTSLAGEN - BENOEMINGEN
- Other11/06/2021STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Other04/02/2020BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025649,6 k €↓
- 2024Annual accounts 2024948,7 k €↓
- 2024Name changeForena vzw
- 2023Annual accounts 20232 M €↑
- 2022Annual accounts 20221,1 M €↓
- 2021Annual accounts 20211,6 M €↑
- 2021Name change't VEER vzw
- 2020Annual accounts 20201,6 M €↑
- 2019Annual accounts 20191,2 M €↑
- 2018Annual accounts 2018970,2 k €↑
- 2017Annual accounts 2017765,6 k €↑
- 2016Annual accounts 2016537 k €↑
- 2015Annual accounts 2015345,6 k €↓
- 2014Annual accounts 2014489,9 k €↑
- 2013Annual accounts 2013-171 k €↓
- 2012Annual accounts 2012288,3 k €↑
- 2011Annual accounts 2011166,2 k €↓
- 2010Annual accounts 2010281,3 k €↓
- 2009Annual accounts 2009285,6 k €
- 01/03/1984IncorporationNon-profit organization