ACTIVE

FORWARD

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Financial year 2025 · closed on 31/12/2025

Net result

41,9 k €

-40.6% YoY

Revenue

9,7 k €

Equity

1,9 M €

+2.3% YoY

What does FORWARD do?

FORWARD is a Private limited company incorporated in 1995. Its main activity is: Activities of head offices. Its registered office is in Blégny.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0455.995.812

Incorporation

26/09/1995

Legal form

Private limited company

Registered office

Rue Haute-Saive 55C
4671 Blégny · WallonieSee on map

Contributed capital

19 073,15 €

Latest accounts

31/12/2025

Activities (NACE)

70100Activities of head offices· main 70100Activities of head offices

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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
Revenue	9,7 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0 €
EBITDA	103,1 k €	-18.8%	127 k €	+6.5%	119,2 k €	+1509%	7,4 k €	-83.1%	43,8 k €	-70.2%	146,8 k €	+17.2%	125,3 k €	+80.1%	69,6 k €	+46.6%	47,5 k €	+4.0%	45,7 k €	-76.0%	190,4 k €	+74.9%	108,9 k €	+2.7%	106 k €	+3.2%	102,8 k €	-26.1%	139,1 k €	-47.8%	266,2 k €	+12.4%	236,9 k €	+34.9%	175,6 k €	+225%	54 k €	-41.9%	93,1 k €
Operating result	67,4 k €	-34.3%	102,7 k €	-7.6%	111,2 k €	+4608%	2,4 k €	-94.0%	39,2 k €	-73.0%	145 k €	+16.1%	124,8 k €	+82.5%	68,4 k €	+47.3%	46,4 k €	+6.8%	43,4 k €	-76.4%	184,2 k €	+77.8%	103,6 k €	+3.1%	100,5 k €	+24.6%	80,6 k €	-30.4%	115,8 k €	-38.0%	186,8 k €	+16.7%	160,1 k €	+50.7%	106,2 k €	+1009%	9,6 k €	-81.4%	51,6 k €
Net result	41,9 k €	-40.6%	70,6 k €	-6.9%	75,8 k €	-92.4%	993,6 k €	+3917%	24,7 k €	-76.4%	104,8 k €	-62.5%	279,6 k €	+257%	78,4 k €	-24.8%	104,3 k €	-64.0%	289,4 k €	+109%	138,4 k €	+122%	62,5 k €	-45.8%	115,3 k €	+30.5%	88,4 k €	+26.7%	69,8 k €	-34.1%	105,9 k €	+29.7%	81,6 k €	+31.9%	61,9 k €	+3797%	1,6 k €	-95.9%	39,1 k €
Balance sheet
Equity	1,9 M €	+2.3%	1,8 M €	+4.0%	1,8 M €	+4.5%	1,7 M €	+145%	683,6 k €	+3.8%	658,8 k €	+18.9%	554,1 k €	+102%	274,5 k €	-15.8%	326,1 k €	-44.0%	582,8 k €	+98.6%	293,4 k €	+36.5%	215 k €	-3.4%	222,6 k €	-8.1%	242,3 k €	+57.4%	153,9 k €	-14.1%	179,1 k €	+45.3%	123,3 k €	+0.5%	122,7 k €	+64.0%	74,8 k €	+2.2%	73,2 k €
Total assets	3,5 M €	+27.8%	2,7 M €	+14.4%	2,4 M €	+13.7%	2,1 M €	+62.0%	1,3 M €	+29.6%	994 k €	+52.6%	651,4 k €	+20.7%	539,6 k €	+0.2%	538,3 k €	-35.0%	827,5 k €	+72.5%	479,8 k €	-9.8%	531,8 k €	-6.4%	568,4 k €	+20.4%	472,1 k €	+10.8%	426,2 k €	-43.8%	758,3 k €	-8.3%	827,2 k €	+17.4%	704,5 k €	+62.7%	432,9 k €	-0.2%	433,9 k €
Cash	27,5 k €	+32.9%	20,7 k €	-64.9%	59,1 k €	+125%	26,2 k €	-63.7%	72,1 k €	-44.4%	129,8 k €	+119%	59,3 k €	-39.7%	98,3 k €	-40.2%	164,3 k €	+403%	32,6 k €	+54.8%	21,1 k €	+164%	8 k €	-26.5%	10,9 k €	+443%	2 k €	-91.1%	22,4 k €	-72.6%	82 k €	-47.5%	156,2 k €	+104%	76,6 k €	-57.2%	179,1 k €	+58.8%	112,8 k €
Debts	1,6 M €	+80.1%	890,7 k €	+43.9%	619,1 k €	+51.2%	409,4 k €	-32.2%	604,3 k €	+80.3%	335,1 k €	+245%	97,3 k €	-63.3%	265 k €	+24.9%	212,2 k €	-13.3%	244,7 k €	+31.3%	186,4 k €	-41.2%	316,8 k €	-8.4%	345,8 k €	+50.5%	229,8 k €	-15.6%	272,3 k €	-53.0%	578,9 k €	-17.8%	703,9 k €	+21.0%	581,7 k €	+62.4%	358,1 k €	-0.7%	360,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,0 ETP	-100%	29,6 ETP	-0.7%	29,8 ETP	+9.2%	27,3 ETP	+14.7%	23,8 ETP	-0.4%	23,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

INVEST'X

Manager · since 19 janvier 2024 · 0561.942.081

Represented by Xavier VAESEN

Active

Ended mandates

INVEST'X

Manager · since 28 juin 2018 · 0561.942.081

Represented by Xavier VAESEN

Ended

Xavier VAESEN

Manager · since 28 juin 2018

Ended

INVEST'X

Manager · 0561.942.081

Represented by Xavier VAESEN

Ended

Roland VAESEN

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	31/08/2026	30/08/2025	14/08/2024	31/08/2023	03/08/2022	30/08/2021
General meeting	30/06/2026	30/06/2025	29/06/2024	30/06/2023	18/06/2022	30/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	31/08/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	30/08/2025	French	PDF
Abridged model	31/12/2023	29/06/2024	14/08/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	31/08/2023	French	PDF
Abridged model	31/12/2021	18/06/2022	03/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	30/08/2021	French	PDF
Abridged model	31/12/2019	20/06/2020	28/08/2020	French	PDF
Abridged model	31/12/2018	15/06/2019	13/08/2019	French	PDF
Abridged model	31/12/2017	16/06/2018	10/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	24/07/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	16/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	30/08/2014	French	PDF
Abridged model	31/12/2012	15/06/2013	08/08/2013	French	PDF
Abridged modelCorrection	31/12/2011	16/06/2012	28/08/2012	French	PDF
Abridged model	31/12/2011	16/06/2012	17/07/2012	French	PDF
Abridged model	31/12/2010	18/06/2011	19/07/2011	French	PDF
Abridged model	31/12/2009	19/06/2010	29/07/2010	French	PDF
Abridged model	31/12/2008	20/06/2009	20/07/2009	French	PDF
Abridged model	31/12/2007	21/06/2008	17/07/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	24/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 1 active · 4 ended

Active mandates

INVEST'X

Manager · since 19 janvier 2024 · 0561.942.081

Represented by Xavier VAESEN

Active

Ended mandates

INVEST'X

Manager · since 28 juin 2018 · 0561.942.081

Represented by Xavier VAESEN

Ended

Xavier VAESEN

Manager · since 28 juin 2018

Ended

INVEST'X

Manager · 0561.942.081

Represented by Xavier VAESEN

Ended

Roland VAESEN

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates01/04/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates16/08/2018
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Capital / shares19/12/2017
CAPITAL, ACTIONS
PDF
Capital / shares12/04/2011
CAPITAL, ACTIONS - DIVERS
PDF
Other07/01/2011
OBJET
PDF
Capital / shares10/02/2009
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202541,9 k €↓
2024
Annual accounts 202470,6 k €↓
2023
Annual accounts 202375,8 k €↓
2022
Annual accounts 2022993,6 k €↑
2021
Annual accounts 202124,7 k €↓
2020
Annual accounts 2020104,8 k €↓
2019
Annual accounts 2019279,6 k €↑
2018
Annual accounts 201878,4 k €↓
2017
Annual accounts 2017104,3 k €↓
2016
Annual accounts 2016289,4 k €↑
2015
Annual accounts 2015138,4 k €↑
2014
Annual accounts 201462,5 k €↓
2013
Annual accounts 2013115,3 k €↑
2012
Annual accounts 201288,4 k €↑
2011
Annual accounts 201169,8 k €↓
2010
Annual accounts 2010105,9 k €↑
2009
Annual accounts 200981,6 k €↑
2008
Annual accounts 200861,9 k €↑
2007
Annual accounts 20071,6 k €↓
2006
Annual accounts 200639,1 k €
26/09/1995
IncorporationPrivate 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

FORWARD

Overview

What does FORWARD do?

Trend over 20 financial years

Indicative valuation

Board of directors

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