ACTIVE

FORESITE

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Financial year 2025 · closed on 31/12/2025

Net result

490,6 k €

-79.5% YoY

Gross margin

74,8 k €

-59.4% YoY

Equity

13,1 M €

+3.9% YoY

What does FORESITE do?

FORESITE is a Public limited company incorporated in 2014. Its main activity is: Development of building projects. Its registered office is in Ixelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0552.539.714

Incorporation

08/05/2014

Legal form

Public limited company

Registered office

Avenue Louise 475
1050 Ixelles · BruxellesSee on map

Contributed capital

500 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 41102Development of building projects 68122Buying and selling of own real estate 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate+4

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015
Income statement
Gross margin	74,8 k €	-59.4%	184,3 k €	+183%	-222 k €	-128%	785,7 k €	+1146%	63,1 k €	-80.5%	324,1 k €	-41.3%	551,7 k €	+8.7%	507,4 k €	+264%	-309,6 k €	-243%	216 k €	+205%	-206,4 k €
EBITDA	-14 k €	-114%	101 k €	+133%	-306,3 k €	-144%	695,1 k €	+53253%	-1,3 k €	-100%	273,2 k €	-46.2%	507,4 k €	+14.9%	441,7 k €	+215%	-385,4 k €	-356%	150,3 k €	+150%	-302,3 k €
Operating result	-41,4 k €	-155%	74,7 k €	+122%	-338,3 k €	-151%	664,1 k €	+2101%	-33,2 k €	-114%	237,7 k €	-49.6%	472 k €	+15.1%	410,2 k €	+197%	-423,9 k €	-420%	132,5 k €	+141%	-326,5 k €
Net result	490,6 k €	-79.5%	2,4 M €	-54.9%	5,3 M €	+1139%	429,1 k €	+424%	81,9 k €	-98.3%	4,8 M €	+72.2%	2,8 M €	-53.4%	6 M €	+1888%	-332,9 k €	-148%	691,3 k €	+318%	-317,1 k €
Balance sheet
Equity	13,1 M €	+3.9%	12,6 M €	+23.6%	10,2 M €	+38.3%	7,4 M €	-19.4%	9,1 M €	-35.0%	14 M €	+2.0%	13,8 M €	+25.2%	11 M €	+9.5%	10 M €	-3.2%	10,4 M €	+7.1%	9,7 M €
Total assets	13,5 M €	+2.7%	13,2 M €	-6.1%	14 M €	+4.1%	13,5 M €	-5.0%	14,2 M €	-20.0%	17,7 M €	+24.9%	14,2 M €	-13.6%	16,4 M €	+62.9%	10,1 M €	-3.6%	10,5 M €	+2.4%	10,2 M €
Cash	228,2 k €	+30.5%	174,9 k €	-97.0%	5,9 M €	-29.4%	8,4 M €	+16.0%	7,2 M €	-24.1%	9,5 M €	+49.8%	6,3 M €	-54.1%	13,8 M €		–		–		–
Debts	464,2 k €	-23.3%	604,9 k €	-84.3%	3,9 M €	-36.9%	6,1 M €	+21.3%	5 M €	+36.9%	3,7 M €	+736%	441 k €	-91.9%	5,5 M €	+10286%	52,5 k €	-46.8%	98,6 k €	-81.7%	540,5 k €
Other
Workforce	–		–		0,8 ETP	-20.0%	1,0 ETP	+25.0%	0,8 ETP	0.0%	0,8 ETP	+14.3%	0,7 ETP	-12.5%	0,8 ETP	-27.3%	1,1 ETP	-8.3%	1,2 ETP	-14.3%	1,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 5 ended

Active mandates

Hadrien De Landsheer

Director · since 08 mai 2025 · until 08 mai 2031

Active

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2031

Active

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2031

Active

Ended mandates

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2019

Ended

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2025

Ended

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2019

Ended

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2025

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	25/06/2026	30/06/2025	28/06/2024	23/05/2023	09/06/2022	28/05/2021
General meeting	08/05/2026	08/05/2025	08/05/2024	08/05/2023	09/05/2022	08/05/2021
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

11 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	08/05/2026	25/06/2026	Dutch	PDF
Micro model	31/12/2024	08/05/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	08/05/2024	28/06/2024	Dutch	PDF
Abridged model	31/12/2022	08/05/2023	23/05/2023	Dutch	PDF
Abridged model	31/12/2021	09/05/2022	09/06/2022	Dutch	PDF
Abridged model	31/12/2020	08/05/2021	28/05/2021	Dutch	PDF
Abridged model	31/12/2019	08/05/2020	31/07/2020	Dutch	PDF
Abridged model	31/12/2018	08/05/2019	06/08/2019	Dutch	PDF
Abridged model	31/12/2017	08/05/2018	07/07/2018	Dutch	PDF
Abridged model	31/12/2016	08/05/2017	27/08/2017	Dutch	PDF
Abridged model	31/12/2015	09/05/2016	29/08/2016	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 5 ended

Active mandates

Hadrien De Landsheer

Director · since 08 mai 2025 · until 08 mai 2031

Active

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2031

Active

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2031

Active

Ended mandates

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2019

Ended

Benoït De Landsheer

Managing director · since 30 avril 2014 · until 08 mai 2025

Ended

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2019

Ended

Benoît Nibelle

Director · since 30 avril 2014 · until 08 mai 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates03/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/10/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Capital / shares13/10/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates28/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares30/11/2018
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office25/04/2017
MAATSCHAPPELIJKE ZETEL
PDF
Other21/05/2014
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025490,6 k €↓
2024
Annual accounts 20242,4 M €↓
2023
Annual accounts 20235,3 M €↑
2022
Annual accounts 2022429,1 k €↑
2021
Annual accounts 202181,9 k €↓
2020
Annual accounts 20204,8 M €↑
2019
Annual accounts 20192,8 M €↓
2018
Annual accounts 20186 M €↑
2017
Annual accounts 2017-332,9 k €↓
2016
Annual accounts 2016691,3 k €↑
2015
Annual accounts 2015-317,1 k €
08/05/2014
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

FORESITE

Overview

What does FORESITE do?

Trend over 11 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