ACTIVE

GROUPE FORREST INTERNATIONAL

Financial year 2025 · Closed on 31/12/2025

Net result-648 k €-324,6 %over 1 year

Equity58,1 M €-1,1 %over 1 year

Workforce6,7 ETP-8,2 %over 1 year

Identity

Source · BCE/KBO

GROUPE FORREST INTERNATIONAL is a Public limited company incorporated in 2011. Its main activity is: Activities of holding companies. Its registered office is in Wavre. It employs on average 6,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0833.585.336
Incorporation: 27/01/2011
Legal form: Public limited company
Registered office: Avenue Pasteur 9
1300 Wavre · WallonieSee on map
Contributed capital: 60 000 000,00 €
Latest accounts: 31/12/2025
Average workforce: 6,7 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 68100Buying and selling of own real estate 68110Buying and selling of own real estate+6

Joint committees (2)

Signals

Solid equityLow riskGood liquidityHealthy social debts

Financials

Source · NBB, 25 filings

Trend over 14 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	–		–		–		–		–
EBITDA	-2,9 M €	+6.7%	-3,1 M €	+6.7%	-3,3 M €	-13.2%	-2,9 M €	-14.7%	-2,5 M €
Operating result	-2,9 M €	+8.9%	-3,2 M €	-6.9%	-3 M €	-1.0%	-2,9 M €	-22.8%	-2,4 M €
Net result	-648 k €	-325%	288,5 k €	+123%	-1,2 M €	+79.5%	-6 M €	-685%	1 M €
Balance sheet
Equity	58,1 M €	-1.1%	58,8 M €	+0.5%	58,5 M €	-2.1%	59,7 M €	-9.2%	65,7 M €
Total assets	104,3 M €	-6.7%	111,8 M €	+0.6%	111,2 M €	+2.3%	108,7 M €	-2.9%	111,9 M €
Cash	652,5 k €	-73.1%	2,4 M €	-48.6%	4,7 M €	+38.4%	3,4 M €	-77.5%	15,2 M €
Debts	45,9 M €	-12.9%	52,8 M €	+0.5%	52,5 M €	+8.5%	48,4 M €	+6.5%	45,4 M €
Other
Workforce	6,7 ETP	-8.2%	7,3 ETP	-3.9%	7,6 ETP	-7.3%	8,2 ETP	-12.8%	9,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 14 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
BERNARD GUSTIN SRL0898.567.418Represented by Bernard GUSTIN	Director29/06/2022 → 28/06/2028
VOSSENSTEERT0478.962.442Represented by Pierre CHEVALIER	Director29/06/2022 → 28/06/2028
Rowena Giulia Clicea R. FORREST	Director01/10/2015 → 28/06/2028
Gabrielle PERREGAUX	Director27/01/2011 → 28/06/2028
George Arthur FORREST	Chairman of the board of directors27/01/2011 → 28/06/2028
Malta David FORREST	Managing director27/01/2011 → 28/06/2028Director27/01/2011 → 29/06/2022ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard GUSTIN	Director26/06/2019 → 29/06/2022
Rowena Giulia Clicea Rac FORREST	Director01/10/2015 → 29/06/2022
Pierre PAIROUX	Director27/01/2012 → 26/06/2016

Other companies at this address

Avenue Pasteur 9 1300 Wavre

Company	CBE no.
Ardmac● Active	0643.926.877
Fondation George Arthur Forrest● Active	0837.174.138
GAF GESTION● Active	1031.673.588
GEORGE FORREST EUROPE● Active	0446.457.643
IMFOR● Active	0462.000.013

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
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	29/07/2026	15/07/2025	27/06/2024	26/07/2023	25/07/2022	19/07/2021
General meeting	24/06/2026	25/06/2025	26/06/2024	28/06/2023	29/06/2022	01/01/9999
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	USD
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, 25 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	24/06/2026	29/07/2026	French	PDF
Full model	31/12/2024	25/06/2025	15/07/2025	French	PDF
Consolidated accounts	31/12/2024	25/06/2025	15/07/2025	French	PDF
Full model	31/12/2023	26/06/2024	27/06/2024	French	PDF
Consolidated accounts	31/12/2023	26/06/2024	25/07/2024	French	PDF
Full modelCorrection	31/12/2022	28/06/2023	26/07/2023	French	PDF
Full model	31/12/2022	28/06/2023	05/07/2023	French	PDF
Consolidated accounts	31/12/2022	28/06/2023	04/07/2023	French	PDF
Full model	31/12/2021	29/06/2022	25/07/2022	French	PDF
Consolidated accounts	31/12/2021	29/06/2022	20/07/2022	French	PDF
Full model	31/12/2020	30/06/2021	14/07/2021	French	PDF
Consolidated accounts	31/12/2020	01/01/9999	19/07/2021	French	PDF
Full model	31/12/2019	15/07/2020	30/07/2020	French	PDF
Consolidated accounts	31/12/2019	15/07/2020	13/08/2020	French	PDF
Full model	31/12/2018	26/06/2019	08/07/2019	French	PDF
Consolidated accounts	31/12/2018	26/06/2019	12/07/2019	French	PDF
Full model	31/12/2017	27/06/2018	06/07/2018	French	PDF
Consolidated accounts	31/12/2017	27/06/2018	06/07/2018	French	PDF
Full model	31/12/2016	28/06/2017	25/07/2017	French	PDF
Consolidated accounts	31/12/2016	07/08/2017	11/10/2017	French	PDF
Full model	31/12/2015	29/06/2016	19/07/2016	French	PDF
Consolidated accounts	31/12/2015	28/07/2016	11/10/2016	French	PDF
Abridged model	31/12/2014	24/06/2015	19/08/2015	French	PDF
Abridged model	31/12/2013	25/06/2014	16/07/2014	French	PDF
Abridged model	31/12/2012	26/06/2013	11/07/2013	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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

6 active · 14 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
BERNARD GUSTIN SRL0898.567.418Represented by Bernard GUSTIN	Director29/06/2022 → 28/06/2028
VOSSENSTEERT0478.962.442Represented by Pierre CHEVALIER	Director29/06/2022 → 28/06/2028
Rowena Giulia Clicea R. FORREST	Director01/10/2015 → 28/06/2028
Gabrielle PERREGAUX	Director27/01/2011 → 28/06/2028
George Arthur FORREST	Chairman of the board of directors27/01/2011 → 28/06/2028
Malta David FORREST	Managing director27/01/2011 → 28/06/2028Director27/01/2011 → 29/06/2022ended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard GUSTIN	Director26/06/2019 → 29/06/2022
Rowena Giulia Clicea Rac FORREST	Director01/10/2015 → 29/06/2022
Pierre PAIROUX	Director27/01/2012 → 26/06/2016

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates26/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates25/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates12/06/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates22/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/03/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates06/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates02/09/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates16/08/2021
DEMISSIONS, NOMINATIONS
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

Filings14 filings

Mandates

VOSSENSTEERT

BERNARD GUSTIN SRL

Rowena Giulia Clicea R. FORREST

Gabrielle PERREGAUX

Malta David FORREST

George Arthur FORREST

Bernard GUSTIN

Rowena Giulia Clicea Rac FORREST

Pierre PAIROUX

Gabrielle WEBER PERREGAUX

Michael Igor FORREST

George. Andrew FORREST

and 8 more mandates

201120122013201420152016201720182019202020212022202320242025202620272028

GROUP FORREST INTERNATIONALGROUPE FORREST INTERNATIONAL

Avenue Pasteur 9, 1300 Wavre

Director

Managing directorDirector

Chairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue Pasteur 9, 1300 WavreCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00359569

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
GROUPE FORREST INTERNATIONALCurrent		CBE
GROUP FORREST INTERNATIONAL	accounts 2024 → 2025	Accounts 2025 · 2026-00359569
GROUPE FORREST INTERNATIONAL	accounts 2012 → 2023	Accounts 2023 · 2024-00176225

Events

2025
Annual accounts 2025-648 k €↓
25/06/2025
reconductionVincent DUMONT · Commissaire aux comptes
2024
Annual accounts 2024288,5 k €↑
2024
Name changeGROUP FORREST INTERNATIONAL
16/12/2024
reconductionMalta David FORREST · Administrateur-délégué
16/12/2024
reconductionGeorge Andrew FORREST · Membre du Comex
16/12/2024
reconductionJean-Pierre PONCELET · Membre du Comex
2023
Annual accounts 2023-1,2 M €↑
31/12/2022
nominationBST REVISEURS D'ENTREPRISES SRL · commissaire aux comptes
2022
Annual accounts 2022-6 M €↓
29/06/2022
reconductionGeorge Arthur FORREST · Président
29/06/2022
reconductionMalta David FORREST · Administrateur-délégué et Vice-Président
29/06/2022
reconductionRowena FORREST · Administrateur
29/06/2022
reconductionGabrielle WEBER-PERREGAUX · Administrateur
29/06/2022
reconductionJean-Pierre WADILA KONGOLO · Administrateur
29/06/2022
nominationsrl Bernard Gustin · Administrateur
29/06/2022
nominationBV VOSSENSTEERT · Administrateur et Vice-Président
2021
Annual accounts 20211 M €↓
16/12/2021
nominationMalta David FORREST · Administrateur-Délégué
16/12/2021
nominationGeorge Andrew FORREST · Membre du Comex
16/12/2021
nominationJean-Pierre PONCELET · Membre du Comex
2020
Annual accounts 20208,7 M €↑
2019
Annual accounts 20196,7 M €↑
2018
Annual accounts 2018-6,1 M €↓
2017
Annual accounts 2017-2,8 M €↓
2016
Annual accounts 2016-619,2 k €↑
2015
Annual accounts 2015-1,1 M €↑
2014
Annual accounts 2014-18,4 M €↓
2013
Annual accounts 2013-374,5 k €↓
2012
Annual accounts 2012-72,4 k €
27/01/2011
nominationMalta David FORREST · Administrateur délégué
27/01/2011
IncorporationPublic limited company

GROUPE FORREST INTERNATIONAL

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