ACTIVE

Whiteforge

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Financial year 2025 · closed on 31/12/2025

Net result

67,1 k €

-46.5% YoY

Gross margin

108,3 k €

-42.7% YoY

Equity

833,1 k €

+8.8% YoY

What does Whiteforge do?

Whiteforge is a Private limited company incorporated in 2012. Its registered office is in Etterbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0508.745.501

Incorporation

27/12/2012

Legal form

Private limited company

Registered office

Avenue de la Chasse 135
1040 Etterbeek · BruxellesSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013
Income statement
Gross margin	108,3 k €	-42.7%	189,1 k €	+52.9%	123,7 k €	-20.5%	155,5 k €	+0.7%	154,4 k €	+28.8%	119,9 k €	-37.4%	191,6 k €	+10.3%	173,8 k €	+64.8%	105,4 k €	+10.2%	95,6 k €	+9.4%	87,4 k €	+35.8%	64,4 k €	-40.9%	108,9 k €
EBITDA	107,5 k €	-42.9%	188,2 k €	+53.5%	122,6 k €	-19.0%	151,4 k €	-0.3%	151,9 k €	+27.5%	119,1 k €	-37.6%	190,8 k €	+10.3%	173,1 k €	+69.5%	102,1 k €	+7.6%	94,9 k €	+9.5%	86,6 k €	+36.5%	63,5 k €	-40.8%	107,3 k €
Operating result	95,3 k €	-45.8%	175,9 k €	+59.7%	110,2 k €	-20.5%	138,5 k €	-5.9%	147,2 k €	+35.5%	108,6 k €	-40.0%	181 k €	+11.2%	162,8 k €	+77.2%	91,8 k €	+14.8%	80 k €	-1.9%	81,5 k €	+39.7%	58,4 k €	-42.5%	101,6 k €
Net result	67,1 k €	-46.5%	125,2 k €	+58.6%	79 k €	-19.6%	98,2 k €	-6.5%	105,1 k €	+36.2%	77,2 k €	-37.9%	124,3 k €	+1.9%	122 k €	+106%	59,1 k €	+16.1%	50,9 k €	-2.9%	52,4 k €	+41.1%	37,2 k €	-45.0%	67,5 k €
Balance sheet
Equity	833,1 k €	+8.8%	766 k €	+16.8%	655,8 k €	+13.7%	576,8 k €	+13.4%	508,6 k €	+26.0%	403,5 k €	+23.7%	326,3 k €	+61.5%	202 k €	+99.1%	101,5 k €	+79.2%	56,6 k €	+43.3%	39,5 k €	+6.5%	37,1 k €	+23.9%	29,9 k €
Total assets	900,9 k €	+5.6%	852,9 k €	+20.1%	710,1 k €	+5.6%	672,5 k €	+13.4%	592,9 k €	+28.2%	462,4 k €	-7.7%	500,7 k €	+39.0%	360,2 k €	+35.0%	266,9 k €	+21.7%	219,3 k €	+32.0%	166,2 k €	-13.0%	191,1 k €	+41.5%	135 k €
Cash	850,9 k €	+13.2%	751,4 k €	+21.8%	616,8 k €	+9.6%	562,7 k €	+11.7%	503,7 k €	+21.5%	414,4 k €	-11.0%	465,5 k €	+46.3%	318,1 k €	+51.4%	210,2 k €	+32.5%	158,6 k €	+19.6%	132,6 k €	-18.3%	162,4 k €	+60.9%	100,9 k €
Debts	66,3 k €	-23.6%	86,8 k €	+59.8%	54,3 k €	-43.2%	95,7 k €	+13.7%	84,1 k €	+44.4%	58,3 k €	-66.6%	174,2 k €	+10.2%	158,1 k €	-4.4%	165,3 k €	+1.7%	162,5 k €	+28.4%	126,5 k €	+0.3%	126,1 k €	+20.5%	104,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

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

Active mandates

Abdelhamid Saifi

Director · since 01 janvier 2013

Active

Ended mandates

Abdelhamid Saifi

Manager · since 01 janvier 2013

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	22/06/2026	20/06/2025	24/06/2024	19/06/2023	21/06/2022	21/06/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	15/06/2023	16/06/2022	17/06/2021
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	18/06/2026	22/06/2026	French	PDF
Micro model	31/12/2024	19/06/2025	20/06/2025	French	PDF
Micro model	31/12/2023	20/06/2024	24/06/2024	French	PDF
Micro model	31/12/2022	15/06/2023	19/06/2023	French	PDF
Micro model	31/12/2021	16/06/2022	21/06/2022	French	PDF
Micro model	31/12/2020	17/06/2021	21/06/2021	French	PDF
Micro model	31/12/2019	18/06/2020	19/06/2020	French	PDF
Micro model	31/12/2018	20/06/2019	28/06/2019	French	PDF
Micro model	31/12/2017	21/06/2018	05/07/2018	French	PDF
Micro model	31/12/2016	15/06/2017	19/06/2017	French	PDF
Abridged model	31/12/2015	16/06/2016	20/06/2016	French	PDF
Abridged model	31/12/2014	18/06/2015	03/07/2015	French	PDF
Abridged model	31/12/2013	19/06/2014	20/06/2014	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 1 ended

Active mandates

Abdelhamid Saifi

Director · since 01 janvier 2013

Active

Ended mandates

Abdelhamid Saifi

Manager · since 01 janvier 2013

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Other09/01/2013
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 202567,1 k €↓
2024
Annual accounts 2024125,2 k €↑
2023
Annual accounts 202379 k €↓
2022
Annual accounts 202298,2 k €↓
2021
Annual accounts 2021105,1 k €↑
2020
Annual accounts 202077,2 k €↓
2019
Annual accounts 2019124,3 k €↑
2018
Annual accounts 2018122 k €↑
2017
Annual accounts 201759,1 k €↑
2016
Annual accounts 201650,9 k €↓
2015
Annual accounts 201552,4 k €↑
2014
Annual accounts 201437,2 k €↓
2013
Annual accounts 201367,5 k €
27/12/2012
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

Whiteforge

Overview

What does Whiteforge do?

Trend over 13 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