FORMA
ActiveFORMA has been active since 1987 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2024 annual accounts show equity of €925k and a net result of €822k. Equity is shrinking by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 32% of 15869 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
54
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability87▲+73
Solvency42▲+15
Growth78▲+46
Track record92
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity short (current ratio 0.24 against 0.32 in 2023; short-term debt: 77.5% and cash: 3.1% of total assets), and 83.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
16.8%
Return on assets
14.9%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €925k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-08-2025, 14 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
14 d late
2023
61 d late
2022
28 d late
2021
26 d early
2020
24 d late
2019
32 d early
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2024, micro schema
Equity
€925k▲ 796%
2023 · €103k
2018: €363k
2019: €344k
2020: €323k
2021: €347k
2022: €265k
2023: €103k
2018 → 2024
Total assets
€5.51M▲ 32.5%
2023 · €4.16M
2018: €942k
2019: €1.01M
2020: €562k
2021: €347k
2022: €1.57M
2023: €4.16M
2018 → 2024
Net result
€822k
2023 · €-162k
2018: €-24k
2019: €-19k
2020: €-21k
2021: €24k
2022: €-82k
2023: €-162k
2018 → 2024
Working capital
€-3.26M▼ 18.4%
2023 · €-2.75M
2018: €219k
2019: €208k
2020: €196k
2021: €236k
2022: €-1.07M
2023: €-2.75M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€323k-€347k▲ 7.5%€265k▼ 23.6%€103k▼ 61.0%€925k▲ 796%
Operating result€-21k-€25k€-82k€-87k▼ 6.8%€1.26M
Net result€-21k-€24k€-82k€-162k▼ 98.0%€822k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1.26M after a loss of €87k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.51M
Fixed assets
€4.50M▲ 57.6%
Current assets
€1.02M▼ 22.3%
Equity and liabilities €5.51M
Equity
€925k▲ 796%
Provisions
€316k
Debt
€4.27M▲ 5.3%
The debt ratio falls from 97.5% to 77.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.35M▲
2023 · €-20k
Cash flow
€908k▲
2023 · €-95k
Solvency
16.8%▲
2023 · 2.5%
Current ratio
0.24▼
2023 · 0.32
Quick ratio
0.24▼
2023 · 0.32
Debt / equity
4.62▼
2023 · 39.31
ROE
88.8%▲
2023 · -156.7%
ROA
14.9%▲
2023 · -3.9%
Interest coverage
10.91▲
2023 · -0.27
Debt
€4.27M▲
2023 · €4.06M
Debt ≤ 1 year
€4.27M▲
2023 · €4.06M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€4.16M€5.51M▲
Fixed assets21/28€2.85M€4.50M▲
Tangible fixed assets22/27€2.85M€4.50M▲
Land and buildings22€2.82M€4.44M▲
Furniture and vehicles24€37k€58k▲
Current assets29/58€1.31M€1.02M▼
Amounts receivable within one year40/41€791k€847k▲
Trade receivables40€37k€988▼
Other amounts receivable41€754k€846k▲
Cash at bank and in hand54/58€518k€169k▼
Equity and liabilities
Total equity and liabilities10/49€4.16M€5.51M▲
Equity10/15€103k€925k▲
Contributions10/11€296k€296k=
Reserves13€40k€989k▲
Non-distributable reserves130/1€40k€40k=
Reserves not available under the articles1311€40k€40k=
Tax-exempt reserves132-€949k
Profit (loss) carried forward14€-232k€-360k▼
Provisions and deferred taxes16-€316k
Deferred taxes168-€316k
Amounts payable17/49€4.06M€4.27M▲
Amounts payable within one year42/48€4.06M€4.27M▲
Financial debts43€2.20M€2.20M=
Other loans439€2.20M€2.20M=
Trade debts44€33k€11k▼
Suppliers440/4€33k€11k▼
Advances received on contracts in progress46€8k€21k▲
Other amounts payable47/48€1.82M€2.04M▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€86k▲
Other operating charges640/8€8k€19k▲
Gross operating margin9900€-12k€1.37M▲
Operating profit (loss)9901€-87k€1.26M▲
Financial charges65/66B€75k€123k▲
Recurring financial charges65€75k€123k▲
Profit (loss) for the period before taxes9903€-162k€1.14M▲
Transfer to deferred taxes680-€316k
Profit (loss) for the period9904€-162k€822k▲
Transfer to tax-exempt reserves689-€949k
Profit (loss) for the period to be appropriated9905€-162k€-128k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-232k€-360k▼
Profit (loss) brought forward from the previous period14P€-70k€-232k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
14-03
KBO administration
Address struck
Naamsestraat 111 Die Sitzadresse Naamsestraat 111 3000
Leuven · event 15-01-2025
2024
31-12
Financial
Back to profitnet €822k
Net result €822k after 2 loss-making years.
31-12
Financial
Equity above €500kEq €925k ▲796%
Equity rises from €103k to €925k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-162k
Net result drops to €-162k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €24k
Net result €24k after 3 loss-making years.
31-12
Financial
Liquidity times 286current ratio 522.78
Current ratio from 1.83 to 522.78; short-term debt falls from €237k to €452.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
04-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 1987
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.
Quinten Metsysplein 12/0013000 LeuvenGround area
5,098 m²
Building footprint
405 m²
Volume, LiDAR
624 m³
Parcel 24502B0324/00S002, Flanders · tallest building 10.9 m. Linked by address, not a title deed.
1 establishment unit
FORMA BVBA
since 19872.032.994.987
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24502B0324/00S002 | Flanders | 5,098 m² | 1 · 405 m² | 10.9 m |
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.
Recognitions · licences · registrations
Legal Entity Identifier
894500HMIQ71RKDMYD85
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Of 679 companies in sector 46494 we hold annual accounts for 530. 382 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-03-1987
Fiscal year end31-12
Activities, NACEBEL
46494Wholesale of non-electrical household articles
51471
43320Joinery installation
45422
47551Retail sale of household furniture
47591Retail trade
52441
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.