FORMANAC
ActiveSummary
FORMANAC has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €307k and a net result of €178k. Equity is growing by ~101.7% per year across the filed fiscal years. Its solvency ranks better than 71% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency98▲+8
Growth85=
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.66 against 2.84 in 2024; short-term debt: 27.2% and cash: 84.1% of total assets), and 27.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
72.8%
Return on assets
42.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
53 d early
2024
49 d early
2023
35 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Turnover
€617k▲ 73.5%
2024 · €356k
EBIT margin
41.4%▲ 8.6pp
2024 · 32.7%
Net result
€178k▲ 113%
2024 · €84k
Working capital
€305k▲ 140%
2024 · €127k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Turnover€186k-€356k▲ 91.3%€617k▲ 73.5%
Operating result€48k-€116k▲ 141%€255k▲ 119%
Net result€35k-€84k▲ 138%€178k▲ 113%
EBIT margin26.0%-32.7%▲ 6.7pp41.4%▲ 8.6pp
Equity€45k-€129k▲ 185%€307k▲ 139%
Total assets€77k-€198k▲ 158%€421k▲ 113%
Debt€32k-€69k▲ 118%€115k▲ 66.1%
Working capital€43k-€127k▲ 194%€305k▲ 140%
Staff (FTE)11=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 119% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €421k
Fixed assets
€885 ▲ 11.7%
Current assets
€420k ▲ 114%
Equity and liabilities €421k
Equity
€307k ▲ 139%
Debt
€115k ▲ 66.1%
Debt's share of the balance-sheet total falls from 34.9% to 27.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€256k▲
2024 · €117k
Cash flow
€179k▲
2024 · €84k
Current ratio
3.66▲
2024 · 2.84
Debt to equity
0.37▼
2024 · 0.54
ROE
58.1%▼
2024 · 65.0%
ROA
42.3%=
2024 · 42.3%
Interest coverage
5863.06▼
2024 · 16924.84
Debt ≤ 1 year
€115k▲
2024 · €69k
Income taxes
€77k▲
2024 · €33k
Staff costs
€33k▲
2024 · €30k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | €186k | €356k | €617k | ▲ 73.5% |
| Goods, raw materials, services and sundry goods60/61 | €137k | €208k | €328k | ▲ 57.2% |
| Remuneration, social security and pensions62 | - | €30k | €33k | ▲ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €261 | €556 | €631 | ▲ 13.6% |
| Other operating charges640/8 | €384 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | €605 | - |
| Gross operating margin9900 | €49k | €148k | €290k | ▲ 96.5% |
| Operating profit (loss)9901 | €48k | €116k | €255k | ▲ 119% |
| Financial income75/76B | €1 | - | - | - |
| Recurring financial income75 | €1 | - | - | - |
| Financial charges65/66B | €103 | €7 | €44 | ▲ 532% |
| Recurring financial charges65 | €103 | €7 | €44 | ▲ 532% |
| Profit (loss) for the period before taxes9903 | €48k | €116k | €255k | ▲ 119% |
| Income taxes67/77 | €13k | €33k | €77k | ▲ 135% |
| Profit (loss) for the period9904 | €35k | €84k | €178k | ▲ 113% |
| Profit (loss) for the period to be appropriated9905 | €35k | €84k | €178k | ▲ 113% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €77k | €198k | €421k | ▲ 113% |
| Formation expenses20 | €949 | €712 | €474 | ▼ 33.3% |
| Fixed assets21/28 | €814 | €792 | €885 | ▲ 11.7% |
| Tangible fixed assets22/27 | €814 | €792 | €885 | ▲ 11.7% |
| Plant, machinery and equipment23 | - | €257 | €629 | ▲ 145% |
| Furniture and vehicles24 | €814 | €535 | €256 | ▼ 52.2% |
| Current assets29/58 | €75k | €196k | €420k | ▲ 114% |
| Amounts receivable within one year40/41 | - | €48k | €65k | ▲ 37.5% |
| Trade receivables40 | - | €48k | €65k | ▲ 36.9% |
| Other amounts receivable41 | - | - | €255 | - |
| Cash at bank and in hand54/58 | €75k | €148k | €354k | ▲ 139% |
| Deferred charges and accrued income490/1 | €185 | €192 | €197 | ▲ 2.5% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €77k | €198k | €421k | ▲ 113% |
| Equity10/15 | €45k | €129k | €307k | ▲ 139% |
| Contributions10/11 | €10k | €10k | €10k | = |
| Reserves13 | €35k | €119k | €297k | ▲ 150% |
| Non-distributable reserves130/1 | €35k | €119k | €297k | ▲ 150% |
| Other1319 | €35k | €119k | €297k | ▲ 150% |
| Amounts payable17/49 | €32k | €69k | €115k | ▲ 66.1% |
| Amounts payable within one year42/48 | €32k | €69k | €115k | ▲ 66.1% |
| Current portion of amounts payable after more than one year42 | €5k | - | - | - |
| Trade debts44 | €1k | €19k | €8k | ▼ 58.0% |
| Suppliers440/4 | €1k | €19k | €8k | ▼ 58.0% |
| Taxes, remuneration and social security45 | €25k | €49k | €107k | ▲ 117% |
| Taxes450/3 | €25k | €49k | €107k | ▲ 117% |
| Other amounts payable47/48 | €1k | €1k | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €84k | €178k | ▲ 113% |
| + Depreciation and write-downs630 | €261 | €556 | €631 | ▲ 13.6% |
| Operating cash flow (approximation) | €35k | €84k | €179k | ▲ 113% |
| Investment in fixed assets (approximation) | - | €-534 | €-724 | ▼ 35.6% |
| Change in cash | - | €74k | €206k | ▲ 180% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €178k ▲113%
Operating result €255k, net result €178k, both a record.
31-12
Financial
Equity above €200kEq €307k ▲139%
3 profitable years in a row build equity to €307k.
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100kEq €129k ▲185%
2 profitable years in a row build equity to €129k.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Thuin · 1 establishment unit since 2023
Ground area
232 m²
Building footprint
55 m²
Volume, LiDAR
419 m³
Parcel 56078C0339/00H000, Wallonia · tallest building 8.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
FORMANAC
since 20232.340.693.439
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56078C0339/00H000 | Wallonia | 232 m² | 1 · 55 m² | 8.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
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
Quality registration as a provider
1 live approvalQuality registration as a provider
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Of 24,515 companies in sector 82990 we hold annual accounts for 9,413. 6,507 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
47511Retail trade
47540Retail sale of electrical household appliances
78100Employment placement agencies
85699Other educational support services
96999Other personal services
Contact
Website
www.formanac.be
E-mail
sylvie@formanac.be
Scores and ratios are computed by Checked and are not a credit decision.