Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
49 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Cityforward from Brussel, company number BE0784472652, closed financial year 2025 with a result of € -40.7 million after tax. For that financial year Cityforward recorded a gross margin of € -1 million and equity of € 322.1 million. Compared with financial year 2024, the result moved from € -28.4 million to € -40.7 million. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ 322.1 million
▲ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -40.7 million
▼ 43 % more loss than in 2024
Profit after tax over the fiscal year.
€ 208,876
▼ 20% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -76.6 million.
Debts at end 2025
€ 389 million
▲ 9% vs 2024
€ 74 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 143,055
▼ 80% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -866,254 | € -3,002,306 | € -230,796 | € -1,015,388 | ▼ € 784,592 |
| Profit after taxes | € 986,998 | € -17,282,821 | € -28,448,483 | € -40,716,266 | ▼ € 12.3 million |
| Equity | € 101,986,998 | € 93,533,643 | € 265,110,160 | € 322,149,894 | ▲ 22% |
| Total debts | € 13,095,617 | € 92,313,135 | € 371,866,904 | € 424,561,835 | ▲ 14% |
| Cash | € 875,696 | € 36,237 | € 261,801 | € 208,876 | ▼ 20% |
| Retained profit | € 986,998 | € -7,466,357 | € -35,914,840 | € -76,631,106 | ▼ € 40.7 million |
| Bank debt | € 9,500,000 | € 80,353,214 | € 357,269,028 | € 389,013,228 | ▲ 9% |
| Balance sheet total | € 115,082,614 | € 185,846,778 | € 636,977,064 | € 746,711,728 | ▲ 17% |
Key figures of Cityforward, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Cityforward?
What happened at Cityforward in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 40.7 million. Source: NBB ↗
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
- Whitewood Operations NV became a director. NBB
In short
From € 986,998 profit in 2022 to € 40.7 million loss in 2025.
Paid € 376,154 in corporate taxes since 2022.
Best year ever: 2022, with € 986,998 profit.
A new publication or filing at Cityforward? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CityforwardBehind Cityforward is Whitewood Operations NV. The shares are held by SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT (37.6%). It owns 100% of Egmont Luxemburg S.A.R.L., 100% of Cityforward Schuman Holdco, 100% of Bolivar JV Bel and 49.5% of Tower Bel itself.
Directors
According to the 2025 annual accounts
Director · represented by Frederic Van der Planken
Also active at: Whitewood Property Management, WHITEWOOD INVESTORS, Bolivar JV Bel, Whitewood Logistics, WHITEWOOD PRIVAK, Cityforward Schuman HoldCo, Belgian Green Building Council
since 2022
Shareholders
Participations
Establishments
Establishment units
Physical locations of this company
Koningsstraat 47
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 49 companies are registered at this address.
All companies at this address →Banque Jules Joire et Cie
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Vlaams Pers-, Radio- en Televisie-Instituut
Vereniging van Vlaamse Mandatarissen
+44 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0784.472.652
- VAT number
- BE 0784.472.652
- Registered office
- Koningsstraat 47, 1000 Brussel
- Names & denominations
- Cityforward
- Enterprise type
- Rechtspersoon
- Legal form
- Limited partnership
- Legal situation
- Normale toestand
- Start date
- 5 April 2022
- Peppol
- Active · Active since 6 Mar 2026
- Activities · NACE
Overige dienstverlenende activiteiten op het gebied van informatie
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Activiteiten van holdings
Overige zakelijke dienstverlening, neg
Holdings