FORREZ INTERNATIONAL
ActiveFORREZ INTERNATIONAL has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.21M and a net result of €407k. Equity is growing by ~27.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 862 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
51
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability35=
Solvency50▼-1
Growth69▼-1
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity tight (current ratio 1.28 against 1.29 in 2024; short-term debt: 74.3% and cash: 2.6% of total assets), and 75.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24.9%
Return on assets
1.9%
Age of the figures
18 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 10-10-2025, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
99 d late
2023
41 d early
2022
21 d early
2021
19 d early
2020
24 d early
2019
49 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close16-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€59.67M▲ 1.9%
2024 · €58.56M
2019: €43.61M
2020: €44.82M
2021: €57.42M
2022: €73.10M
2023: €67.37M
2024: €58.56M
2019 → 2025
EBIT margin
1.1%=
2024 · 1.2%
2019: 0.3%
2020: 0.2%
2021: 2.2%
2022: 3.0%
2023: 3.9%
2024: 1.2%
2019 → 2025
Net result
€407k▲ 9.5%
2024 · €371k
2019: €139k
2020: €127k
2021: €1.03M
2022: €1.87M
2023: €2.08M
2024: €371k
2019 → 2025
Working capital
€4.30M▼ 1.4%
2024 · €4.37M
2019: €1.43M
2020: €1.55M
2021: €2.43M
2022: €2.95M
2023: €4.20M
2024: €4.37M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€57.42M-€73.10M▲ 27.3%€67.37M▼ 7.8%€58.56M▼ 13.1%€59.67M▲ 1.9%
Equity€2.53M-€3.70M▲ 46.3%€5.23M▲ 41.6%€5.30M▲ 1.4%€5.21M▼ 1.8%
Operating result€1.28M-€2.16M▲ 68.4%€2.62M▲ 21.2%€680k▼ 74.0%€686k▲ 0.9%
Net result€1.03M-€1.87M▲ 80.8%€2.08M▲ 11.3%€371k▼ 82.1%€407k▲ 9.5%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €20.91M
Fixed assets
€1.07M▼ 1.2%
Current assets
€19.83M▲ 1.9%
Equity and liabilities €20.91M
Equity
€5.21M▼ 1.8%
Debt
€15.70M▲ 2.9%
The debt ratio rises from 74.2% to 75.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€857k▲
2024 · €844k
Cash flow
€578k▲
2024 · €535k
Solvency
24.9%▼
2024 · 25.8%
Current ratio
1.28▼
2024 · 1.29
Quick ratio
0.47▼
2024 · 0.49
Debt / equity
3.01▲
2024 · 2.87
ROE
7.8%▲
2024 · 7.0%
ROA
1.9%▲
2024 · 1.8%
Interest coverage
2.21▲
2024 · 2.19
Debt
€15.70M▲
2024 · €15.25M
Debt ≤ 1 year
€15.53M▲
2024 · €15.10M
Debt > 1 year
€148k▲
2024 · €124k
Income taxes
€141k▲
2024 · €123k
Staff costs
€693k▼
2024 · €976k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€20.55M€20.91M▲
Fixed assets21/28€1.09M€1.07M▼
Tangible fixed assets22/27€1.09M€1.02M▼
Plant, machinery and equipment23€229k€149k▼
Furniture and vehicles24€42k€27k▼
Leasing and similar rights25€27k€116k▲
Other tangible fixed assets26€786k€724k▼
Financial fixed assets28-€57k
Other financial fixed assets284/8-€57k
Amounts receivable and cash guarantees285/8-€57k
Current assets29/58€19.46M€19.83M▲
Stocks and contracts in progress3€12.12M€12.56M▲
Stocks30/36€12.12M€12.56M▲
Goods purchased for resale34€12.12M€12.56M▲
Amounts receivable within one year40/41€7.00M€6.69M▼
Trade receivables40€6.90M€6.62M▼
Other amounts receivable41€94k€74k▼
Cash at bank and in hand54/58€321k€549k▲
Deferred charges and accrued income490/1€26k€29k▲
Equity and liabilities
Total equity and liabilities10/49€20.55M€20.91M▲
Equity10/15€5.30M€5.21M▼
Contributions10/11€71k€71k=
Capital10€71k€71k=
Issued capital100€71k€71k=
Reserves13€5.23M€5.14M▼
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Tax-exempt reserves132€1.52M€1.36M▼
Distributable reserves133€3.71M€3.78M▲
Amounts payable17/49€15.25M€15.70M▲
Amounts payable after more than one year17€124k€148k▲
Financial debts170/4€124k€148k▲
Leasing and similar obligations172€17k€69k▲
Credit institutions173€107k€79k▼
Amounts payable within one year42/48€15.10M€15.53M▲
Current portion of amounts payable after more than one year42€39k€73k▲
Financial debts43€5.62M€5.59M▼
Credit institutions430/8€5.62M€5.59M▼
Trade debts44€5.82M€5.49M▼
Suppliers440/4€5.82M€5.49M▼
Advances received on contracts in progress46€15k€124k▲
Taxes, remuneration and social security45€195k€280k▲
Taxes450/3€104k€166k▲
Remuneration and social security454/9€91k€114k▲
Other amounts payable47/48€3.40M€3.97M▲
Accrued charges and deferred income492/3€23k€20k▼
Income statement
Code20242025
Operating income70/76A€58.63M€59.78M▲
Turnover70€58.56M€59.67M▲
Other operating income74€75k€110k▲
Non-recurring operating income76A€0€2k▲
Operating charges60/66A€57.95M€59.10M▲
Goods for resale, raw materials and consumables60€52.89M€53.89M▲
Purchases600/8€52.93M€54.36M▲
Change in stocks: decrease (increase)609€-42k€-470k▼
Services and other goods61€3.92M€4.26M▲
Remuneration, social security and pensions62€976k€693k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€164k€171k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-3k€59k▲
Other operating charges640/8€5k€29k▲
Operating profit (loss)9901€680k€686k▲
Financial income75/76B€254k€299k▲
Recurring financial income75€254k€299k▲
Income from current assets751€8k€15k▲
Other financial income752/9€246k€283k▲
Financial charges65/66B€440k€437k▼
Recurring financial charges65€439k€437k▼
Debt charges650€386k€388k▲
Other financial charges652/9€53k€49k▼
Non-recurring financial charges66B€787€0▼
Profit (loss) for the period before taxes9903€494k€548k▲
Income taxes67/77€123k€141k▲
Taxes670/3€123k€141k▲
Profit (loss) for the period9904€371k€407k▲
Transfer from tax-exempt reserves789€61k€162k▲
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€432k€569k▲
Appropriation of the result
Profit (loss) to be appropriated9906€432k€569k▲
Transfer to equity691/2€132k€69k▼
To the legal reserve6920€0-
To other reserves6921€132k€69k▼
Profit to be distributed694/7€300k€500k▲
Return on contributions (dividend)694€300k€500k▲
Social balance
Average headcount (FTE)908715.111.2▼
The notes to these accounts (83 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director discharge12 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director discharge12 facts ▸
- General meeting, 03/06/2026
- Director resignation, Muno BV (bestuurder)
- Director resignation, Wevano BV (bestuurder)
- Director discharge, Muno BV (bestuurder)
- Director discharge, Wevano BV (bestuurder)
- Director appointment, Muno BV (niet-statutaire bestuurder)
- Permanent representative, DE RUIJTER Michaël Paul
- Permanent representative, JACOBS Nicolaas Cornelis Maria (plaatsvervangend vast vertegenwoordiger)
- Director resignation, Muno BV (dagelijks bestuurder)
- Director resignation, Wevano BV (dagelijks bestuurder)
- Director appointment, Wevano BV (dagelijks bestuurder)
- Permanent representative, Geert Mertens
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
07-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 99 days late
2023
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Highest result since 2019net €2.08M ▲11.3%
Operating result €2.62M, net result €2.08M, both a record.
31-03
Financial
Equity above €5MEq €5.23M ▲41.6%
5 profitable years in a row build equity to €5.23M.
2022
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Equity above €2MEq €2.53M ▲52.7%
3 profitable years in a row build equity to €2.53M.
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Weakest financial yearnet €127k ▼8.7%
Net result drops to €127k, the lowest in the series; recovery starts the following year.
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 49 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
MUNO
CurrentNon-statutory director · since 03-06-2026 · Private limited company
WEVANO
CurrentDagelijks bestuurder · since 03-06-2026 · Private limited company · perm. rep.: Geert Mertens
03-06-2026
MUNO: Appointed as Non-statutory director
03-06-2026
MUNO: Resigned as Director
03-06-2026
MUNO: Resigned as Dagelijks bestuurder
03-06-2026
WEVANO: Appointed as Dagelijks bestuurder
03-06-2026
WEVANO: Resigned as Dagelijks bestuurder
03-06-2026
WEVANO: Resigned as Director
Location & real-estate footprint
Registered office, Ieper · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Sint-Krispijnstraat 28900 IeperGround area
7,519 m²
Building footprint
4,697 m²
Volume, LiDAR
47,000 m³
Parcel 33305B0996/00N000, Flanders · tallest building 74.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FORREZ INTERNATIONAL
since 20092.178.014.343
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33305B0996/00N000 | Flanders | 7,519 m² | 1 · 4,697 m² | 74.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
3 connected companiesNetwork connections
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 3,716 EUR awarded · 3,372 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,131 EUR | 1,131 EUR |
| 2024 | 1 | 361 EUR | 361 EUR |
| 2023 | 2 | 1,389 EUR | 1,382 EUR |
| 2022 | 1 | 835 EUR | 498 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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Of 1,749 companies in sector 46720 we hold annual accounts for 1,083. 530 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-04-2009
Fiscal year end31-03
Activities, NACEBEL
45310
46720Wholesale of motor vehicle parts and accessories
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.