ACTIVE

Forum Estates Holding

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Financial year 2025 · closed on 31/12/2025
Net result
-3,4 M €
-619.3% YoY
Revenue
1,8 M €
-11.1% YoY
Equity
106,8 M €
-3.1% YoY
Workforce
9,6 ETP
-5.9% YoY

What does Forum Estates Holding do?

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· main64210Activities of holding companies68100Buying and selling of own real estate68110Buying and selling of own real estate82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.
Joint committees (1)
  • 323
Signals
Solid equityHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Revenue1,8 M €2,0 M €2,1 M €2,4 M €1,9 M €––
EBITDA-5,4 M €-1,1 M €-969,6 k €-1,5 M €-762,9 k €-586,3 k €285,8 k €
Operating result-5,5 M €-1,3 M €-894,1 k €-1,6 M €-799,4 k €-621,8 k €285,8 k €
Net result-3,4 M €656,1 k €4,9 M €1,8 M €328,8 k €-2,1 M €-183,6 k €
Balance sheet
Equity106,8 M €110,2 M €109,6 M €104,7 M €100,2 M €76,4 M €67,8 M €
Total assets270,4 M €245,5 M €239,4 M €231,1 M €203,2 M €157,3 M €136,6 M €
Cash472,0 k €191,6 k €382,4 k €1,6 M €4,7 M €4,5 M €150,7 k €
Debts163,6 M €135,1 M €129,9 M €125,9 M €103,0 M €80,8 M €68,3 M €
Other
Workforce9,6 ETP10,2 ETP9,5 ETP7,9 ETP6,2 ETP4,9 ETP0,5 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 9 active · 22 ended

Active mandates

Gaeverland

Director · since 15 février 2025 · 1019.933.917

Represented by Benoit Debruyne

Active
Christina Pia-Lena Olofsson

Director · since 27 janvier 2025

Active
Lauri Samuel Tiensuu

Director · since 27 janvier 2025

Active
Maxhenges

Director · since 07 décembre 2021 · 0752.815.911

Represented by Elke Krols

Active
S.I.M.C.

Director · since 08 juin 2021 · until 27 janvier 2025 · 0439.857.782

Represented by Patrick Syen

Active
Cadiz

Managing director · since 19 novembre 2019 · until 27 janvier 2025 · 0446.340.649

Represented by Stefan De Bock

Active
DEROOSE PROJECTS

Director · since 19 novembre 2019 · until 27 janvier 2025 · 0880.450.291

Represented by Dirk Deroose

Active
Studium ad Scaldim

Director · since 19 novembre 2019 · until 27 janvier 2025 · 0502.945.889

Represented by Wouter Dewulf

Active
Tom Heeren

Director · since 19 novembre 2019 · until 27 janvier 2025

Active

Ended mandates

Iris Hemelaer

Director · since 14 février 2022 · until 11 juin 2024

Ended
Iris Hemelaer

Director · since 14 février 2022

Ended
S.I.M.C.

Director · since 08 juin 2021 · 0439.857.782

Represented by Patrick Syen

Ended
Jean-Louis Appelmans

Chairman of the board of directors · since 09 juin 2020

Ended
At this address

Other companies at this address

CompanyCBE no.
3SMS● Active
0502.655.780
ARTIFICIEEL● Active
1001.403.452
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
Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull 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 date22/07/202618/06/202525/07/202407/07/202307/07/202206/07/2021
General meeting09/06/202610/06/202511/06/202413/06/202314/06/202208/06/2021
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
Full model31/12/202509/06/202622/07/2026DutchPDF
Full model31/12/202410/06/202518/06/2025DutchPDF
Full model31/12/202311/06/202425/07/2024DutchPDF
Full model31/12/202213/06/202307/07/2023DutchPDF
Full model31/12/202114/06/202207/07/2022DutchPDF
Abridged model31/12/202008/06/202106/07/2021DutchPDF
Abridged model31/12/201909/06/202017/06/2020DutchPDF
Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 9 active · 22 ended

Active mandates

Gaeverland

Director · since 15 février 2025 · 1019.933.917

Represented by Benoit Debruyne

Active
Christina Pia-Lena Olofsson

Director · since 27 janvier 2025

Active
Lauri Samuel Tiensuu

Director · since 27 janvier 2025

Active
Maxhenges

Director · since 07 décembre 2021 · 0752.815.911

Represented by Elke Krols

Active
S.I.M.C.

Director · since 08 juin 2021 · until 27 janvier 2025 · 0439.857.782

Represented by Patrick Syen

Active
Cadiz

Managing director · since 19 novembre 2019 · until 27 janvier 2025 · 0446.340.649

Represented by Stefan De Bock

Active
DEROOSE PROJECTS

Director · since 19 novembre 2019 · until 27 janvier 2025 · 0880.450.291

Represented by Dirk Deroose

Active
Studium ad Scaldim

Director · since 19 novembre 2019 · until 27 janvier 2025 · 0502.945.889

Represented by Wouter Dewulf

Active
Tom Heeren

Director · since 19 novembre 2019 · until 27 janvier 2025

Active

Ended mandates

Iris Hemelaer

Director · since 14 février 2022 · until 11 juin 2024

Ended
Iris Hemelaer

Director · since 14 février 2022

Ended
S.I.M.C.

Director · since 08 juin 2021 · 0439.857.782

Represented by Patrick Syen

Ended
Jean-Louis Appelmans

Chairman of the board of directors · since 09 juin 2020

Ended
Shareholders

Ownership and network

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Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • 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

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 2025-3,4 M €↓
  2. 10/06/2025
    nominationPwC Bedrijfsrevisoren BV — commissaris
  3. 15/02/2025
    nominationGaeverland BV — bestuurder
  4. 27/01/2025
    nominationChristina Pia-Lena Olofsson — bestuurder
  5. 27/01/2025
    nominationLauri Samuel Tiensuu — bestuurder
  6. 2024
    Annual accounts 2024656,1 k €↓
  7. 11/06/2024
    reconductionFilip De Bock — commissaris
  8. 2023
    Annual accounts 20234,9 M €↑
  9. 31/12/2022
    reduction_capital
  10. 2022
    Annual accounts 20221,8 M €↑
  11. 01/12/2022
    augmentation_capital
  12. 14/02/2022
    nominationIris Hemelaer — bestuurder
  13. 2021
    Annual accounts 2021328,8 k €↑
  14. 07/12/2021
    nominationMaxhenges BV — bestuurder
  15. 2020
    Annual accounts 2020-2,1 M €↓
  16. 30/03/2020
    augmentation_capital
  17. 2019
    Annual accounts 2019-183,6 k €
  18. 19/11/2019
    augmentation_capital
  19. 19/09/2019
    IncorporationPrivate limited company