ACTIVE

GOLFFORUM

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Financial year 2025 · closed on 31/12/2025

Net result

-15,3 k €

-130.5% YoY

Gross margin

353,2 k €

+24.9% YoY

Equity

310,8 k €

-4.7% YoY

Workforce

3,3 ETP

-5.7% YoY

What does GOLFFORUM do?

GOLFFORUM is a Public limited company incorporated in 1995. Its registered office is in Lummen. It employs on average 3,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0454.925.743

Incorporation

31/03/1995

Legal form

Public limited company

Registered office

Golfweg 1
3560 Lummen · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

3,3 ETP

Joint committees (2)

Signals

Positive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	353,2 k €	+24.9%	282,8 k €	+107%	136,5 k €	+19.3%	114,5 k €	-16.9%	137,8 k €	+20.2%	114,7 k €	+9.1%	105,1 k €	+10.5%	95,1 k €	-8.3%	103,7 k €	+40.1%	74 k €	+2.2%	72,4 k €	+27.3%	56,9 k €	+33.4%	42,6 k €	-40.5%	71,6 k €	+63.9%	43,7 k €	-21.0%	55,3 k €	+22.7%	45 k €	+2.9%	43,8 k €	-46.3%	81,5 k €	+38.8%	58,7 k €
EBITDA	221,6 k €	+42.9%	155 k €	+172%	57,1 k €	-18.1%	69,7 k €	-32.4%	103,2 k €	+22.4%	84,3 k €	+108%	40,5 k €	+37.2%	29,6 k €	-25.9%	39,9 k €	+339%	9,1 k €	+4.8%	8,7 k €	+232%	-6,6 k €	+68.4%	-20,8 k €	-827%	2,9 k €	-90.9%	31,5 k €	-41.1%	53,5 k €	+22.0%	43,8 k €	+5.9%	41,4 k €	-48.1%	79,7 k €	+41.0%	56,5 k €
Operating result	19,9 k €	-73.4%	74,7 k €	+307%	18,4 k €	-66.4%	54,7 k €	-43.5%	96,9 k €	+19.6%	81 k €	+131%	35,1 k €	+50.0%	23,4 k €	-31.4%	34 k €	+921%	3,3 k €	+32.3%	2,5 k €	+120%	-12,7 k €	+51.9%	-26,3 k €	-787%	-3 k €	-112%	24 k €	-44.5%	43,3 k €	+34.7%	32,1 k €	+10.0%	29,2 k €	-56.8%	67,6 k €	+53.9%	43,9 k €
Net result	-15,3 k €	-131%	50,1 k €	+305%	12,4 k €	-67.5%	38,1 k €	-40.1%	63,7 k €	+15.2%	55,3 k €	+148%	22,3 k €	+78.4%	12,5 k €	-52.4%	26,2 k €	+580%	3,9 k €	+40.1%	2,8 k €	+129%	-9,6 k €	+55.3%	-21,5 k €	-1298%	1,8 k €	-90.8%	19,4 k €	-38.4%	31,5 k €	+29.9%	24,2 k €	+22.4%	19,8 k €	-50.6%	40,1 k €	+45.0%	27,6 k €
Balance sheet
Equity	310,8 k €	-4.7%	326,1 k €	+18.2%	276 k €	+4.7%	263,6 k €	+16.9%	225,5 k €	+39.3%	161,9 k €	+51.8%	106,6 k €	+26.4%	84,3 k €	-64.1%	235,2 k €	+12.6%	208,9 k €	+1.9%	205,1 k €	+1.4%	202,3 k €	+316%	48,6 k €	-80.7%	251,5 k €	+0.7%	249,7 k €	+8.4%	230,3 k €	+15.8%	198,8 k €	+13.9%	174,6 k €	+12.8%	154,8 k €	+34.9%	114,7 k €
Total assets	1,7 M €	+50.4%	1,2 M €	+78.3%	647,7 k €	+87.7%	345,1 k €	+18.9%	290,1 k €	+11.5%	260,1 k €	+75.4%	148,3 k €	-13.3%	171,2 k €	-43.1%	300,7 k €	-5.7%	318,9 k €	-1.7%	324,4 k €	-19.5%	402,8 k €	+10.9%	363,2 k €	-17.4%	439,7 k €	-6.9%	472,2 k €	+6.7%	442,6 k €	+12.5%	393,5 k €	-3.2%	406,6 k €	+13.8%	357,3 k €	+12.8%	316,7 k €
Cash	277,7 k €	+338%	63,4 k €	-22.7%	82 k €	-40.0%	136,7 k €	-0.9%	137,9 k €	-17.2%	166,5 k €	+197%	56 k €	-24.0%	73,6 k €	-63.9%	203,6 k €	+1.6%	200,4 k €	+190%	69 k €	-20.7%	87 k €	+286%	22,5 k €	-62.2%	59,5 k €	-37.9%	95,9 k €	+14.8%	83,6 k €		–		55,6 k €	-52.9%	118 k €	+98.4%	59,5 k €
Debts	1,1 M €	+32.1%	817 k €	+123%	365,7 k €	+361%	79,4 k €	+25.5%	63,3 k €	-31.5%	92,3 k €	+128%	40,4 k €	-52.8%	85,6 k €	+30.6%	65,6 k €	-40.4%	110 k €	-7.8%	119,4 k €	-40.5%	200,5 k €	-36.3%	314,5 k €	+67.3%	188 k €	-15.2%	221,7 k €	+5.9%	209,3 k €	+8.7%	192,5 k €	-15.8%	228,7 k €	+14.4%	199,9 k €	+5.3%	189,8 k €
Other
Workforce	3,3 ETP	-5.7%	3,5 ETP		–		–		–		–		–		–		–		–		0,6 ETP	0.0%	0,6 ETP	0.0%	0,6 ETP	0.0%	0,6 ETP	0.0%	0,6 ETP		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 27 ended

Active mandates

CREATIEF, MODERN, INNOVATIEF

Director · since 06 avril 2023 · 0446.433.293

Represented by Eddy Withofs

Active

Katleen Borgerhoff

Director · since 06 avril 2023

Active

Ended mandates

CREATIEF, MODERN, INNOVATIEF

Director · since 06 avril 2023 · 0446.433.293

Represented by Eddy Withofs

Ended

CREATIEF, MODERN, INNOVATIEF

Managing director · since 06 avril 2023 · until 17 juin 2028 · 0446.433.293

Represented by Eddy Withofs

Ended

Katleen Borgerhoff

Director · since 06 avril 2023 · until 17 juin 2028

Ended

EMILIUS VANDEPAER

Director · since 10 janvier 2020 · until 10 janvier 2026

Ended

At this address

Other companies at this address

Company	CBE no.
GOLFFORUM LUMMEN● Active	1005.869.412
INTERSPORTIF IMMO● Active	0463.476.985

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro model	Micro model	Micro 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	23/07/2026	28/07/2025	22/07/2024	27/07/2023	29/07/2022	27/07/2021
General meeting	14/07/2026	21/06/2025	15/06/2024	17/06/2023	18/06/2022	19/06/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	14/07/2026	23/07/2026	Dutch	PDF
Abridged model	31/12/2024	21/06/2025	28/07/2025	Dutch	PDF
Micro model	31/12/2023	15/06/2024	22/07/2024	Dutch	PDF
Micro model	31/12/2022	17/06/2023	27/07/2023	Dutch	PDF
Micro model	31/12/2021	18/06/2022	29/07/2022	Dutch	PDF
Micro model	31/12/2020	19/06/2021	27/07/2021	Dutch	PDF
Micro model	31/12/2019	20/06/2020	31/07/2020	Dutch	PDF
Micro model	31/12/2018	15/06/2019	28/06/2019	Dutch	PDF
Micro model	31/12/2017	16/06/2018	27/06/2018	Dutch	PDF
Micro model	31/12/2016	17/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	18/06/2016	12/07/2016	Dutch	PDF
Abridged model	31/12/2014	20/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	21/06/2014	30/07/2014	Dutch	PDF
Abridged model	31/12/2012	15/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	16/06/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	18/06/2011	15/07/2011	Dutch	PDF
Abridged model	31/12/2009	19/06/2010	20/08/2010	Dutch	PDF
Abridged model	31/12/2008	20/06/2009	30/07/2009	Dutch	PDF
Abridged model	31/12/2007	21/06/2008	30/06/2008	Dutch	PDF
Abridged model	31/12/2006	16/06/2007	18/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 27 ended

Active mandates

CREATIEF, MODERN, INNOVATIEF

Director · since 06 avril 2023 · 0446.433.293

Represented by Eddy Withofs

Active

Katleen Borgerhoff

Director · since 06 avril 2023

Active

Ended mandates

CREATIEF, MODERN, INNOVATIEF

Director · since 06 avril 2023 · 0446.433.293

Represented by Eddy Withofs

Ended

CREATIEF, MODERN, INNOVATIEF

Managing director · since 06 avril 2023 · until 17 juin 2028 · 0446.433.293

Represented by Eddy Withofs

Ended

Katleen Borgerhoff

Director · since 06 avril 2023 · until 17 juin 2028

Ended

EMILIUS VANDEPAER

Director · since 10 janvier 2020 · until 10 janvier 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/06/2018
KAPITAAL - AANDELEN
PDF
Capital / shares22/04/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/10/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/08/2009
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-15,3 k €↓
2024
Annual accounts 202450,1 k €↑
2023
Annual accounts 202312,4 k €↓
2022
Annual accounts 202238,1 k €↓
2021
Annual accounts 202163,7 k €↑
2020
Annual accounts 202055,3 k €↑
2019
Annual accounts 201922,3 k €↑
2018
Annual accounts 201812,5 k €↓
2017
Annual accounts 201726,2 k €↑
2016
Annual accounts 20163,9 k €↑
2015
Annual accounts 20152,8 k €↑
2014
Annual accounts 2014-9,6 k €↑
2013
Annual accounts 2013-21,5 k €↓
2012
Annual accounts 20121,8 k €↓
2011
Annual accounts 201119,4 k €↓
2010
Annual accounts 201031,5 k €↑
2009
Annual accounts 200924,2 k €↑
2008
Annual accounts 200819,8 k €↓
2007
Annual accounts 200740,1 k €↑
2006
Annual accounts 200627,6 k €
31/03/1995
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

GOLFFORUM

Overview

What does GOLFFORUM do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline