ACTIVE

FORAS

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Financial year 2025 · closed on 31/12/2025
Net result
8,1 k €
+232.0% YoY
Gross margin
10,5 k €
+310.4% YoY
Equity
31,4 k €
+35.0% YoY

What does FORAS do?

FORAS is a Private limited company incorporated in 2018. Its main activity is: Development of building projects. Its registered office is in Brasschaat.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0699.513.421
Incorporation
02/07/2018
Legal form
Private limited company
Registered office
Guylei 9
2930 Brasschaat · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Activities (NACE)
41101Development of building projects· main68121Buying and selling of own real estate41102Development of building projects68122Buying and selling of own real estate
Signals
ProfitablePositive cashflowPositive EBITDA
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Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Gross margin10,5 k €-5,0 k €56,5 k €37,3 k €11,1 k €-528,4 €-10,0 k €
EBITDA9,4 k €-6,1 k €55,2 k €36,9 k €10,6 k €-975,9 €-11,0 k €
Operating result9,4 k €-6,1 k €55,2 k €36,9 k €10,6 k €-975,9 €-11,0 k €
Net result8,1 k €-6,2 k €935,9 €11,3 k €10,6 k €-994,8 €-11,0 k €
Balance sheet
Equity31,4 k €23,2 k €29,4 k €28,5 k €17,2 k €6,6 k €7,6 k €
Total assets2,3 M €2,4 M €2,4 M €3,5 M €1,8 M €402,7 k €554,2 k €
Cash1,6 M €80,9 k €289,3 k €552,0 k €23,6 k €13,8 k €179,4 k €
Debts2,2 M €2,4 M €2,4 M €3,5 M €1,8 M €396,1 k €546,6 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

Active mandates

Krsto Ivanovic

Director

Active
At this address

Other companies at this address

CompanyCBE no.
XSARD● Active
0876.124.190
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date29/07/202629/07/202517/06/202416/06/202322/06/202216/06/2021
General meeting29/06/202630/06/202515/06/202415/06/202315/06/202215/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202529/06/202629/07/2026DutchPDF
Abridged model31/12/202430/06/202529/07/2025DutchPDF
Abridged model31/12/202315/06/202417/06/2024DutchPDF
Abridged model31/12/202215/06/202316/06/2023DutchPDF
Abridged model31/12/202115/06/202222/06/2022DutchPDF
Abridged model31/12/202015/06/202116/06/2021DutchPDF
Abridged model31/12/201915/06/202022/06/2020DutchPDF
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

Active mandates

Krsto Ivanovic

Director

Active
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates19/06/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office03/12/2021
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Registered office03/03/2020
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other04/07/2018
    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

Timeline

  1. 2025
    Annual accounts 20258,1 k €↑
  2. 2024
    Annual accounts 2024-6,2 k €↓
  3. 2023
    Annual accounts 2023935,9 €↓
  4. 2022
    Annual accounts 202211,3 k €↑
  5. 2021
    Annual accounts 202110,6 k €↑
  6. 2020
    Annual accounts 2020-994,8 €↑
  7. 2019
    Annual accounts 2019-11,0 k €
  8. 02/07/2018
    IncorporationPrivate limited company