FORMAZ
ActiveSummary
FORMAZ has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.73M and a net result of €454k. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 684 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability88▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220k at 30 days acceptable
Liquidity ample (current ratio 7.27 against 4.49 in 2024; short-term debt: 8.4% and cash: 2.5% of total assets), and 8.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← 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
91.6%
Return on assets
15.2%
Age of the figures
9 mo
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
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
8 d early
2023
14 d late
2022
22 d late
2021
30 d early
2020
24 d late
2019
19 d late
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.73M▲ 20.0%
2024 · €2.27M
2018: €815k
2019: €973k
2020: €1.19M
2021: €1.33M
2022: €1.62M
2023: €1.92M
2024: €2.27M
2018 → 2025
Total assets
€2.97M▲ 17.0%
2024 · €2.54M
2018: €1.11M
2019: €1.62M
2020: €1.80M
2021: €2.57M
2022: €2.42M
2023: €2.42M
2024: €2.54M
2018 → 2025
Net result
€454k▲ 27.6%
2024 · €355k
2018: €135k
2019: €211k
2020: €213k
2021: €224k
2022: €281k
2023: €301k
2024: €355k
2018 → 2025
Working capital
€1.56M▲ 97.0%
2024 · €790k
2018: €356k
2019: €467k
2020: €451k
2021: €99k
2022: €231k
2023: €352k
2024: €790k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.33M-€1.62M▲ 21.1%€1.92M▲ 18.6%€2.27M▲ 18.5%€2.73M▲ 20.0%
Operating result€284k-€379k▲ 33.5%€413k▲ 8.8%€477k▲ 15.4%€617k▲ 29.5%
Net result€224k-€281k▲ 25.3%€301k▲ 7.1%€355k▲ 18.1%€454k▲ 27.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.97M
Fixed assets
€1.17M ▼ 23.4%
Current assets
€1.81M ▲ 77.6%
Equity and liabilities €2.97M
Equity
€2.73M ▲ 20.0%
Debt
€248k ▼ 8.2%
Debt's share of the balance-sheet total falls from 10.6% to 8.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€886k▲
2024 · €801k
Cash flow
€723k▲
2024 · €680k
Current ratio
7.27▲
2024 · 4.49
Debt to equity
0.09▼
2024 · 0.12
ROE
16.6%▲
2024 · 15.6%
ROA
15.2%▲
2024 · 14.0%
Interest coverage
536.62▲
2024 · 313.73
Debt ≤ 1 year
€248k▲
2024 · €226k
Debt > 1 year
€0▼
2024 · €44k
Income taxes
€169k▲
2024 · €125k
Staff costs
€656k▲
2024 · €656k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.54M€2.97M▲
Fixed assets21/28€1.53M€1.17M▼
Intangible fixed assets21€25k€20k▼
Tangible fixed assets22/27€1.50M€1.15M▼
Land and buildings22€1.19M€988k▼
Plant, machinery and equipment23€29k€18k▼
Furniture and vehicles24€279k€144k▼
Financial fixed assets28€318€318=
Current assets29/58€1.02M€1.81M▲
Amounts receivable within one year40/41€300k€1.71M▲
Trade receivables40€292k€289k▼
Other amounts receivable41€7k€1.42M▲
Current investments50/53€0€8k▲
Cash at bank and in hand54/58€706k€73k▼
Deferred charges and accrued income490/1€11k€16k▲
Equity and liabilities
Total equity and liabilities10/49€2.54M€2.97M▲
Equity10/15€2.27M€2.73M▲
Contributions10/11€19k€19k=
Reserves13€613k€613k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€611k€611k=
Profit (loss) carried forward14€1.64M€2.09M▲
Amounts payable17/49€271k€248k▼
Amounts payable after more than one year17€44k€0▼
Financial debts170/4€44k€0▼
Amounts payable within one year42/48€226k€248k▲
Current portion of amounts payable after more than one year42€31k€0▼
Trade debts44€99k€29k▼
Suppliers440/4€99k€29k▼
Taxes, remuneration and social security45€92k€216k▲
Taxes450/3€25k€150k▲
Remuneration and social security454/9€67k€66k▼
Other amounts payable47/48€3k€3k▼
Income statement
Code20242025
Non-recurring operating income76A€19k€22k▲
Remuneration, social security and pensions62€656k€656k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€324k€269k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0-
Other operating charges640/8€18k€18k▲
Gross operating margin9900€1.47M€1.56M▲
Operating profit (loss)9901€477k€617k▲
Financial income75/76B€6k€7k▲
Recurring financial income75€6k€7k▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€480k€623k▲
Income taxes67/77€125k€169k▲
Profit (loss) for the period9904€355k€454k▲
Profit (loss) for the period to be appropriated9905€355k€454k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.64M€2.09M▲
Profit (loss) brought forward from the previous period14P€1.29M€1.64M▲
Social balance
Average headcount (FTE)908710.09.8▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €454k ▲27.6%
Operating result €617k, net result €454k, both a record.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 4.49
Current ratio from 2.18 to 4.49; short-term debt falls from €298k to €226k.
31-12
Financial
Equity above €2MEq €2.27M ▲18.5%
7 profitable years in a row build equity to €2.27M.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 14 days late
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
31-12
Financial
Equity above €1MEq €1.19M ▲21.8%
3 profitable years in a row build equity to €1.19M.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 19 days late
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Brussel · 4 establishment units since 2008
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.
Joseph Stevensstraat 71000 BrusselGround area
2.7 ha
Building footprint
8,364 m²
Volume, LiDAR
84,823 m³
4 parcels, Brussels, Flanders · tallest building 88.8 m, ±7 floors. Linked by address, not a title deed.
4 establishment units
@thetys
since 20082.193.140.603
@thetys
since 20102.193.140.702
@thetys
since 20182.276.067.287
Formaz
since 20212.322.770.611
4 parcels
Flanders
3
(75%)
Brussels
1
(25%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71033B1658/00A000 | Flanders | 1.2 ha | 1 · 934 m² | 0.1 m |
| 23047A0435/00Z011 | Flanders | 1.0 ha | 1 · 4,313 m² | 7.0 m |
| 44019A1812/00A000 | Flanders | 2,255 m² | 1 · 1,004 m² | - |
| 21808H1372/00K000 | Brussels | 2,159 m² | 1 · 2,113 m² | 88.8 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 3
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 5 entries · 10,964 EUR awarded · 11,493 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,850 EUR | 2,850 EUR |
| 2023 | 2 | 5,133 EUR | 5,662 EUR |
| 2022 | 2 | 2,981 EUR | 2,981 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Quality registration as a provider
1 live approvalQuality registration as a provider
Legal Entity Identifier
8945001ZA0DORZR5V884
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Of 3,017 companies in sector 85592 we hold annual accounts for 987. 322 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-07-2006
Fiscal year end31-12
Activities, NACEBEL 2025
85592Vocational training
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.