ACTIVE

FORCEA

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Financial year 2025 · closed on 31/12/2025
Net result
-1,1 M €
+0.9% YoY
Revenue
8,9 M €
-7.8% YoY
Equity
963,3 k €
-54.0% YoY
Workforce
46,1 ETP
+3.1% YoY

What does FORCEA do?

FORCEA is a Public limited company incorporated in 2006. Its main activity is: Computer programming activities. Its registered office is in Zaventem. It employs on average 46,1 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0883.520.342
Incorporation
12/09/2006
Legal form
Public limited company
Registered office
Da Vincilaan 7
1930 Zaventem · FlandreSee on map
Contributed capital
61 500,00 €
Latest accounts
31/12/2025
Average workforce
46,1 ETP
Activities (NACE)
62010Computer programming activities· main62100Computer programming, consultancy and related activities72220Research and experimental development on social sciences and humanities62090Other information technology and computer service activities62900Computer programming, consultancy and related activities72600Scientific research and development
Joint committees (2)
  • 200
  • 218
Signals
Positive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021201520142014201320122011201020092008
Income statement
Revenue8,9 M €9,7 M €9,2 M €8,3 M €8,9 M €7,7 M €––––––––
EBITDA1,4 M €1,7 M €2 M €1,5 M €2,2 M €1,3 M €531,5 k €1,1 M €512,2 k €311,5 k €422,5 k €337,8 k €280 k €235,9 k €
Operating result142,1 k €99,1 k €466,7 k €234,5 k €1,3 M €841 k €170,9 k €679,1 k €163,8 k €91,4 k €376,3 k €294,9 k €250,6 k €218,8 k €
Net result-1,1 M €-1,1 M €147,3 k €44,3 k €910,9 k €496,9 k €95 k €402,1 k €63,1 k €8,2 k €224,2 k €169,6 k €155 k €136 k €
Balance sheet
Equity963,3 k €2,1 M €3,2 M €3,1 M €3 M €1,8 M €1,3 M €1,2 M €817,6 k €754,5 k €746,3 k €522,1 k €352,5 k €197,5 k €
Total assets8,9 M €8,6 M €10,4 M €9,1 M €7,4 M €7,2 M €4,8 M €5,6 M €4,5 M €3,8 M €2,8 M €1,9 M €1,7 M €810,9 k €
Cash––––1,5 M €1,5 M €1,1 M €1,7 M €915,7 k €1,3 M €1,2 M €1,3 M €586,9 k €216,1 k €
Debts5,3 M €3,9 M €4 M €3,5 M €1,9 M €2,4 M €1 M €1,6 M €1,7 M €1,6 M €869,9 k €407,4 k €707,4 k €366,5 k €
Other
Workforce46,1 ETP44,7 ETP51,6 ETP45,0 ETP40,6 ETP36,0 ETP32,7 ETP27,9 ETP24,7 ETP23,5 ETP16,2 ETP12,6 ETP11,3 ETP3,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 37 ended

Active mandates

Patrick Van Dooren

Bestuurder · since 12 juillet 2023 · until 10 juin 2026

Active
Emmanuel Vanderhaegen

Bestuurder · since 01 février 2023 · until 14 juin 2028

Active
Clément Vanthournhout

Bestuurder · since 13 juillet 2022 · until 14 juin 2028

Active

Ended mandates

Frank Swaelens

Bestuurder · since 12 juillet 2021 · until 01 février 2023

Ended
Frank Swaelens

Bestuurder · since 12 juillet 2021 · until 11 juin 2025

Ended
Patrick Van Dooren

Bestuurder · since 07 mai 2020 · until 26 mai 2023

Ended
Patrick Van Dooren

Director · since 07 mai 2020 · until 26 mai 2023

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull 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 date13/07/202623/07/202510/07/202414/07/202320/07/202204/08/2021
General meeting10/07/202609/07/202510/07/202412/07/202313/07/202212/07/2021
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

19 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202510/07/202613/07/2026DutchPDF
Full model31/12/202409/07/202523/07/2025DutchPDF
Full model31/12/202310/07/202410/07/2024DutchPDF
Full model31/12/202212/07/202314/07/2023DutchPDF
Full model31/12/202113/07/202220/07/2022DutchPDF
Full model31/12/202012/07/202104/08/2021DutchPDF
Full model31/12/201918/08/202019/08/2020DutchPDF
Full model31/12/201824/06/201909/07/2019DutchPDF
Full model31/12/201715/06/201820/06/2018DutchPDF
Full model31/12/201625/08/201728/08/2017DutchPDF
Full model31/12/201516/12/201623/12/2016DutchPDF
Abridged model31/12/201416/12/201521/12/2015DutchPDF
Abridged model31/03/201409/09/201429/09/2014DutchPDF
Abridged model31/03/201310/09/201328/10/2013DutchPDF
Abridged model31/03/201210/10/201212/10/2012DutchPDF
Abridged model31/03/201128/09/201105/12/2011DutchPDF
Abridged model31/03/201014/09/201028/09/2010DutchPDF
Abridged model31/03/200908/09/200929/09/2009DutchPDF
Abridged model31/03/200809/09/200830/10/2008DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 37 ended

Active mandates

Patrick Van Dooren

Bestuurder · since 12 juillet 2023 · until 10 juin 2026

Active
Emmanuel Vanderhaegen

Bestuurder · since 01 février 2023 · until 14 juin 2028

Active
Clément Vanthournhout

Bestuurder · since 13 juillet 2022 · until 14 juin 2028

Active

Ended mandates

Frank Swaelens

Bestuurder · since 12 juillet 2021 · until 01 février 2023

Ended
Frank Swaelens

Bestuurder · since 12 juillet 2021 · until 11 juin 2025

Ended
Patrick Van Dooren

Bestuurder · since 07 mai 2020 · until 26 mai 2023

Ended
Patrick Van Dooren

Director · since 07 mai 2020 · until 26 mai 2023

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates01/09/2026
    Herbenoeming een bestuurder en van de commissaris
    PDF
  • Restructuring26/05/2026
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates21/05/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates15/05/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/05/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates13/02/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates07/10/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/07/2020
    ONTSLAGEN - BENOEMINGEN
    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 2025-1,1 M €↑
  2. 2024
    Annual accounts 2024-1,1 M €↓
  3. 2023
    Annual accounts 2023147,3 k €↑
  4. 2022
    Annual accounts 202244,3 k €↓
  5. 2021
    Annual accounts 2021910,9 k €↑
  6. 2015
    Annual accounts 2015496,9 k €↑
  7. 2014
    Annual accounts 201495 k €↓
  8. 2014
    Annual accounts 2014402,1 k €↑
  9. 2013
    Annual accounts 201363,1 k €↑
  10. 2012
    Annual accounts 20128,2 k €↓
  11. 2011
    Annual accounts 2011224,2 k €↑
  12. 2010
    Annual accounts 2010169,6 k €↑
  13. 2009
    Annual accounts 2009155 k €↑
  14. 2008
    Annual accounts 2008136 k €
  15. 12/09/2006
    IncorporationPublic limited company