We systematically evaluate and compare the performance of classical statistical methods (ARIMA), mechanistic compartmental models (SEIR), modern deep learning architectures (LSTM, DLinear, Autoformer), and an emerging time-series foundation model (TabPFN-TS) to forecasts the incidence of Influenza-Like Illness (ILI) across nine European countries. The models are benchmarked against a naive baseline and a multi-model ensemble (RespiCast) created by an initiative of the ECDC. In line with the operational practice of existing forecasting hubs, our entire evaluation is explicitly optimized for short-term horizons (1 to 4 weeks ahead). Interestingly, we found that the foundation model TabPFN-TS allows for great zero-shot inference capabilities. Without any task-specific retraining, it successfully overcomes extreme data scarcity to consistently outperform all other individual architectures, frequently rivalling or surpassing the RespiCast ensemble. Our results highlight how deep learning architectures are severely constrained by extreme data scarcity, typical in epidemic forecasting, requiring targeted endogenous data augmentation to reduce predictive errors. Within the deep learning class of models, we observe that simpler architectures (such as DLinear and LSTM) frequently exhibit greater robustness and outperform complex, attention-based models (such as Autoformer) when data is constrained. Finally, our results show how a weighted ensemble, constructed by fusing all the models, delivers highly robust forecasts in all regions considered. Overall, our findings showcase the transformative potential of zero-shot foundation models in epidemic forecasting and confirm the importance of multi-model ensembles.