ACTIVE

Forum Estates Holding

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Financial year 2025 · Closed on 31/12/2025

Net result-3,4 M €-619,3 %over 1 year

Revenue1,8 M €-11,1 %over 1 year

Equity106,8 M €-3,1 %over 1 year

Workforce9,6 ETP-5,9 %over 1 year

Identity

Source · BCE/KBO

Forum Estates Holding is a Private limited company incorporated in 2019. Its main activity is: Activities of holding companies. Its registered office is in Gent. It employs on average 9,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0734.663.449
Incorporation: 19/09/2019
Legal form: Private limited company
Registered office: Brusselsesteenweg 6
9050 Gent · FlandreSee on map
Contributed capital: 104 869 172,36 €
Latest accounts: 31/12/2025
Average workforce: 9,6 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68100Buying and selling of own real estate 68110Buying and selling of own real estate 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Joint committees (1)

Signals

Solid equityHigh revenue

Financials

Source · NBB, 7 filings

Trend over 7 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	1,8 M €	-11.1%	2 M €	-1.4%	2,1 M €	-13.5%	2,4 M €	+22.8%	1,9 M €
EBITDA	-5,4 M €	-388%	-1,1 M €	-13.9%	-969,6 k €	+34.8%	-1,5 M €	-94.8%	-762,9 k €
Operating result	-5,5 M €	-338%	-1,3 M €	-41.3%	-894,1 k €	+42.3%	-1,6 M €	-93.9%	-799,4 k €
Net result	-3,4 M €	-619%	656,1 k €	-86.6%	4,9 M €	+177%	1,8 M €	+438%	328,8 k €
Balance sheet
Equity	106,8 M €	-3.1%	110,2 M €	+0.6%	109,6 M €	+4.7%	104,7 M €	+4.5%	100,2 M €
Total assets	270,4 M €	+10.2%	245,5 M €	+2.5%	239,4 M €	+3.6%	231,1 M €	+13.8%	203,2 M €
Cash	472 k €	+146%	191,6 k €	-49.9%	382,4 k €	-76.8%	1,6 M €	-65.1%	4,7 M €
Debts	163,6 M €	+21.1%	135,1 M €	+4.1%	129,9 M €	+3.1%	125,9 M €	+22.3%	103 M €
Other
Workforce	9,6 ETP	-5.9%	10,2 ETP	+7.4%	9,5 ETP	+20.3%	7,9 ETP	+27.4%	6,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gaeverland1019.933.917Represented by Benoit Debruyne	Directorsince 15/02/2025
Christina Pia-Lena Olofsson	Directorsince 27/01/2025
Lauri Samuel Tiensuu	Directorsince 27/01/2025
Maxhenges0752.815.911Represented by Elke Krols	Directorsince 07/12/2021
S.I.M.C.0439.857.782Represented by Patrick Syen	Director08/06/2021 → 27/01/2025
Cadiz0446.340.649Represented by Stefan De Bock	Managing director19/11/2019 → 27/01/2025
DEROOSE PROJECTS0880.450.291Represented by Dirk Deroose	Director19/11/2019 → 27/01/2025
Studium ad Scaldim0502.945.889Represented by Wouter Dewulf	Director19/11/2019 → 27/01/2025Managing director19/11/2019 → 2021 accountsended
Tom Heeren	Director19/11/2019 → 27/01/2025

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Iris Hemelaer	Director14/02/2022 → 11/06/2024
Jean-Louis Appelmans	Chairman of the board of directors09/06/2020 → 2021 accountsDirector09/06/2020 → 11/06/2024

Other companies at this address

Brusselsesteenweg 6 9050 Gent

Company	CBE no.
3SMS● Active	0502.655.780
BTW Eenheid Forum Estates● Active	1000.328.138
Caspian● Active	1042.322.507
Deelvereniging van mede-eigenaars Keizerpoort Kantoor te 9050 Gent, Brusselsesteenweg 6● Active	0751.886.689
DEMOVO● Active	0888.638.180
Entourage btw-eenheid● Active	1002.753.435
Entourage Capital● Active	1005.671.551
Entourage Capital HoldCo● Active	1029.726.660
Entourage Capital II● Active	1038.466.558
Entourage GP● Active	1000.341.105
ENTOURAGE STUDIO● Active	1000.702.577
Entourage Studio HoldCo● Active	1029.729.927
Entourage Studio Privak● Active	1001.105.920
EPPELST● Active	1014.274.560
FORUM ESTATES● Active	0535.599.554
Forum Estates LUX● Active	0772.935.689
Forum Solar● Active	1007.575.523
Heeren Beheer● Active	0473.194.704
Highsail● Active	1017.818.525
nonzerosum● Active	0688.999.314

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full 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	22/07/2026	18/06/2025	25/07/2024	07/07/2023	07/07/2022	06/07/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	13/06/2023	14/06/2022	08/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 7 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	09/06/2026	22/07/2026	Dutch	PDF
Full model	31/12/2024	10/06/2025	18/06/2025	Dutch	PDF
Full model	31/12/2023	11/06/2024	25/07/2024	Dutch	PDF
Full model	31/12/2022	13/06/2023	07/07/2023	Dutch	PDF
Full model	31/12/2021	14/06/2022	07/07/2022	Dutch	PDF
Abridged model	31/12/2020	08/06/2021	06/07/2021	Dutch	PDF
Abridged model	31/12/2019	09/06/2020	17/06/2020	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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.

Board of directors

Source · NBB, accounts to 31/12/2025

9 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gaeverland1019.933.917Represented by Benoit Debruyne	Directorsince 15/02/2025
Christina Pia-Lena Olofsson	Directorsince 27/01/2025
Lauri Samuel Tiensuu	Directorsince 27/01/2025
Maxhenges0752.815.911Represented by Elke Krols	Directorsince 07/12/2021
S.I.M.C.0439.857.782Represented by Patrick Syen	Director08/06/2021 → 27/01/2025
Cadiz0446.340.649Represented by Stefan De Bock	Managing director19/11/2019 → 27/01/2025
DEROOSE PROJECTS0880.450.291Represented by Dirk Deroose	Director19/11/2019 → 27/01/2025
Studium ad Scaldim0502.945.889Represented by Wouter Dewulf	Director19/11/2019 → 27/01/2025Managing director19/11/2019 → 2021 accountsended
Tom Heeren	Director19/11/2019 → 27/01/2025

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Iris Hemelaer	Director14/02/2022 → 11/06/2024
Jean-Louis Appelmans	Chairman of the board of directors09/06/2020 → 2021 accountsDirector09/06/2020 → 11/06/2024

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates07/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Registered office02/01/2024
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares06/12/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates29/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares08/09/2022
KAPITAAL - AANDELEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings7 filings

Mandates

Gaeverland

Lauri Samuel Tiensuu

Christina Pia-Lena Olofsson

Maxhenges

S.I.M.C.

Cadiz

Studium ad Scaldim

DEROOSE PROJECTS

Tom Heeren

Iris Hemelaer

Jean-Louis Appelmans

GRANVELLE CONSULTANTS & C°

Show the 2 other mandates

20192020202120222023202420252026

Forum Estates Holding

Brusselsesteenweg 6, 9050 Ledeberg (Gent)Poortakkerstraat 93, 9051 Sint-Denijs-Westrem

Director

Managing director

DirectorManaging director

Director

Chairman of the board of directorsDirector

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Brusselsesteenweg 6, 9050 Ledeberg (Gent)Current	accounts 2023 → 2025	Accounts 2025 · 2026-00328366
Poortakkerstraat 93, 9051 Sint-Denijs-Westrem	accounts 2021 → 2022	Accounts 2022 · 2023-00219765

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Forum Estates HoldingCurrent	accounts 2019 → 2025	Accounts 2025 · 2026-00328366

Events

2025
Annual accounts 2025-3,4 M €↓
10/06/2025
nominationPwC Bedrijfsrevisoren BV · commissaris
15/02/2025
nominationGaeverland BV · bestuurder
27/01/2025
nominationChristina Pia-Lena Olofsson · bestuurder
27/01/2025
nominationLauri Samuel Tiensuu · bestuurder
2024
Annual accounts 2024656,1 k €↓
11/06/2024
reconductionFilip De Bock · commissaris
2023
Annual accounts 20234,9 M €↑
31/12/2022
reduction_capital
2022
Annual accounts 20221,8 M €↑
01/12/2022
augmentation_capital
14/02/2022
nominationIris Hemelaer · bestuurder
2021
Annual accounts 2021328,8 k €↑
07/12/2021
nominationMaxhenges BV · bestuurder
2020
Annual accounts 2020-2,1 M €↓
30/03/2020
augmentation_capital
2019
Annual accounts 2019-183,6 k €
19/11/2019
augmentation_capital
19/09/2019
IncorporationPrivate limited company

Forum Estates Holding

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events