FORMATIO
ActiveSummary
FORMATIO has been active since 1932 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €903,250 and a net result of €147,101. Equity is shrinking by about 5.8% per year across the filed financial years. Its solvency ranks better than 71% of 1,081 sector peers (NACE 81, financial year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Overview
- Equity
- €903,250
- Profit
- €147,101
Why 56raises riskCapped at 59: a confirmed filing finding1 financial year not filed after the legal deadline; last filed accounts filed 251 days late; 3 of the last 3 lateFigures for financial year 2024 (filed 08-04-2026)lowers riskFounded in 1932Equity €903,250 (60.4% of total assets)Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 81, micro): better than 71% on solvency, 40% on liquidity, 28% on profitability and 64% on growth.
The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 148 days after the deadline; the sector median (NACE 81) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
- Appointment: BAKER TILLY BEDRIJFSREVISOREN BV (statutory…Gazette deed
- Annual accounts filedfinancial year 2024 · abbreviated…
- Annual accounts filedfinancial year 2023 · abbreviated…
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 31 October 2026.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result falls in 2024; 2024 is 22% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 81, Services to buildings and landscape activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0 | €0.02m | €384 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.8m | -€0.07m | -€0.04m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 22.3% |
| Operating profit (loss)9901 | €1.7m | -€0.09m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 22.1% |
| Financial charges65/66B | - | - | - | €0.002m | €0.001m | €0.001m | €380 | ▼ 64.1% |
| Recurring financial charges65 | €0.02m | €0.003m | €0.001m | €0.002m | €0.001m | €0.001m | €380 | ▼ 64.1% |
| Profit (loss) for the period before taxes9903 | €1.7m | -€0.09m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 21.9% |
| Income taxes67/77 | €0.02m | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €1.5m | €0.04m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 21.9% |
| Profit (loss) for the period to be appropriated9905 | €1.2m | €0.4m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 21.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.4m | €0.8m | €0.8m | €0.7m | €0.7m | €1.4m | €1.5m | ▲ 3.2% |
| Fixed assets21/28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €2.4m | €0.8m | €0.8m | €0.7m | €0.7m | €1.4m | €1.5m | ▲ 3.2% |
| Amounts receivable within one year40/41 | €0.3m | €0.02m | €0.02m | €0.02m | €0.2m | €1.3m | €1.3m | ▲ 6.1% |
| Trade receivables40 | - | - | - | - | - | €0.2m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.2m | €1.1m | €1.3m | ▲ 20.7% |
| Cash at bank and in hand54/58 | €2.1m | €0.8m | €0.8m | €0.7m | €0.5m | €0.2m | €0.2m | ▼ 15.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.4m | €0.8m | €0.8m | €0.7m | €0.7m | €1.4m | €1.5m | ▲ 3.2% |
| Equity10/15 | €1.7m | €0.8m | €0.7m | €0.7m | €0.6m | €0.8m | €0.9m | ▲ 19.5% |
| Contributions10/11 | €3.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Capital10 | - | - | - | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Issued capital100 | - | - | - | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Reserves13 | €0.5m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Legal reserve130 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Tax-exempt reserves132 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Distributable reserves133 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Profit (loss) carried forward14 | -€2.6m | -€2.3m | -€2.3m | -€2.4m | -€2.5m | -€2.3m | -€2.2m | ▲ 6.4% |
| Provisions and deferred taxes16 | €0.1m | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.6m | €0.003m | €0.04m | €0.04m | €0.2m | €0.7m | €0.6m | ▼ 14.6% |
| Amounts payable within one year42/48 | €0.6m | €0.003m | €0.04m | €0.04m | €0.2m | €0.7m | €0.6m | ▼ 14.6% |
| Trade debts44 | €0.004m | €0.003m | €0.04m | €0.04m | €0.2m | €0.7m | €0.6m | ▼ 14.6% |
| Suppliers440/4 | - | - | - | €0.04m | €0.2m | €0.7m | €0.6m | ▼ 14.6% |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | - | - | - |
| Taxes450/3 | - | - | - | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | €0.04m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 21.9% |
| Operating cash flow (approximation) | €1.5m | €0.04m | -€0.05m | -€0.04m | -€0.1m | €0.2m | €0.1m | ▼ 21.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€1.4m | -€0.009m | -€0.04m | -€0.2m | -€0.3m | -€0.03m | ▲ 89.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 46 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 08-04-2026 | 2026-00074326 |
| 31-12-2023 | abbreviated format | 04-04-2025 | 2025-00063481 |
| 31-12-2022 | micro format | 29-04-2024 | 2024-00072476 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20398113 |
| 31-12-2020 | micro format | 28-06-2021 | 2021-26400035 |
| 31-12-2019 | abbreviated format | 25-11-2020 | 2020-72800090 |
| 31-12-2018 | abbreviated format | 30-04-2019 | 2019-11200263 |
| 31-12-2017 | abbreviated format | 01-06-2018 | 2018-14900269 |
| 31-12-2016 | abbreviated format | 29-05-2017 | 2017-13700305 |
| 31-12-2015 | abbreviated format | 26-08-2016 | 2016-48000575 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Statutory auditor 2
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Baker Tilly Belgium Bedrijfsrevisoren CVBA |
|
| BV Baker Tilly Bedrijfsrevisoren |
|
| ANDRÉ Christian Charles Jean |
|
| CARLY Stephaan Julien Rudolf Maria |
|
| HUWART Yves Jean Pierre |
|
Owners and capital
Capital and shareholders
- 29-06-2023 Capital stated in the deed · €2,900,000
Group and network
Connections & network
No directors read yet: 3 of 15 Gazette acts processed.
History
Acts, filings and financial milestones
11-08
Gazette deed
Appointment: BAKER TILLY BEDRIJFSREVISOREN BV (statutory auditor)2 facts ▸
- General meeting, 06-02-2026
- Auditor appointment, BAKER TILLY BEDRIJFSREVISOREN BV (statutory auditor)
29-06
Gazette deed
Resignations: ANDRÉ Christian Charles Jean, CARLY Stephaan Julien Rudolf Maria and 2 othersReappointments: ANDRÉ Christian Charles Jean, CARLY Stephaan Julien Rudolf Maria and 2 others · Amendment of the articles · Name clause21 facts ▸
- General meeting, 23-06-2023
- Amendment of the articles
- Name clause, FORMATIO
- Purpose change
- Registered office clause, “Vlaamse Gewest, Romboutsstraat 1 bus 1.11, 1932 Sint-Stevens-Woluwe (Zaventem)” (deed in Dutch)
- Capital, €2,900,000
- Director resignation, ANDRÉ Christian Charles Jean (director)
- Director reappointment, ANDRÉ Christian Charles Jean (director)
- Director resignation, CARLY Stephaan Julien Rudolf Maria (director)
- Director reappointment, CARLY Stephaan Julien Rudolf Maria (director)
- Director resignation, HUWART Yves Jean Pierre (director)
- Director reappointment, HUWART Yves Jean Pierre (director)
- +9 further facts in this act
01-08
Gazette deed
Reappointment: Baker Tilly Belgium Bedrijfsrevisoren CVBA (statutory auditor)2 facts ▸
- General meeting, 30-06-2022
- Auditor reappointment, Baker Tilly Belgium Bedrijfsrevisoren CVBA (statutory auditor)
Show earlier events
About the unread acts
Of the 15 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23078A0296/00D000 | Flanders | 2,790 m² | 1 · 606 m² | 18.8 m · 4 |
| 21363B0404/00G012 | Brussels | 407 m² | 1 · 375 m² | 19.1 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De vennootschap haar doel is aan haar aandeelhouders een rechtstreeks of onrechtstreeks vermogensvoordeel uit te keren of te bezorgen” (deed in Dutch)
Text of the purpose (deed in Dutch)
“De vennootschap haar doel is aan haar aandeelhouders een rechtstreeks of onrechtstreeks vermogensvoordeel uit te keren of te bezorgen.”
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Raad van bestuur, 3” (deed in Dutch)“Geheel bestuursbevoegdheden, op elk ogenblik ontslaan” (deed in Dutch)“Gewone algemene vergadering in boekjaar waarin mandaat volgens benoemingsbesluit verstrijkt, 6 jaar” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of March at 10:00