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FORMETCO

Active
Public limited companyfounded 1983active for 43 yearsVaartlaan 22, 9800 Deinze, BelgiumKBO/BCE: BE 0423.466.168
Summary

FORMETCO has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.3m and a net result of €33,871. Equity is growing by about 16% per year across the filed financial years. Its solvency ranks better than 86% of 8,979 sector peers (NACE 46, financial year 2024). The computed 12-month bankruptcy probability is 0.7% (low).

Overview

Activity
Wholesale of other machinery and equipment
NACE 46649
1 site
Size
€2.9mtotal assets 2024
Equity
€2.3m
Profit
€33,871
Turnover not published (abbreviated or micro format)
Financial health
56 Fair Checked score 2024
Bankruptcy probabilitywithin 12 months
0.7%
Structure
Holdings
5
Accounts 75 days overdue0 of 5 deeds read
Why 56raises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed 21-10-2025)1 financial year not filed after the legal deadline; latest accounts 74 days late; 2 of the last 3 latelowers riskFounded in 1983Equity €2.3m (80.2% of total assets)Show the evidence

Checked score

Score 2024
56 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 59% of its sector peers (NACE 46, small)
A confirmed filing finding caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2023
Strong
Solvency 100=
equity 80.2% of total assets
Liquidity 52+1
short-term debt 3.1% · cash 1.8%
Profitability 51-27
return on assets 1.2%
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%

About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,381 companies, NACE 46, small)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024lowest value 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.2%▲ +0.1 percentage points vs 05-2025 07-2025: 0.2%● unchanged vs 06-2025 08-2025: 0.3%▲ +0.1 percentage points vs 07-2025 09-2025: 0.4%▲ +0.1 percentage points vs 08-2025 10-2025: 0.5%▲ +0.1 percentage points vs 09-2025 11-2025: 0.2%▼ -0.3 percentage points vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.4%▲ +0.2 percentage points vs 07-2026 09-2026: 0.5%▲ +0.1 percentage points vs 08-2026 10-2026: 0.7%▲ +0.2 percentage points vs 09-2026highest value
Credit of up to €120,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity ample (current ratio 3.66, compared with 1.8 in 2023, above the usual 1.5; short-term debt: 3.1% and cash: 1.8% of total assets), and 19.8% of the assets are financed with debt and provisions.
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 46, small): better than 92% on solvency, 68% on liquidity, 34% on profitability and 41% on growth.

The bankruptcy probability was computed on 13-10-2026 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

Six signals.
lowers riskraises riskneutral
raises risk · Figures for financial year 2024 (filed 21-10-2025)
NBB · annual accounts
lowers risk · Founded in 1983
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Equity €2.3m (80.2% of total assets)
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 74 days late; 2 of the last 3 late
NBB · filings
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 75 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline14-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-10-2025, 74 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
74 days late
2023
6 days early
2022
31 days late
2021
31 days late
2020
37 days early
2019
68 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 27 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2024 · abbreviated…
  2. Weakest financial yearnet €33,871 ▼95.1%
  3. Liquidity doublescurrent ratio 3.66

Key points

  • Caution: Result fell in 2024from €688,003 to €33,871 ▼ 95.1% View
  • Caution: Accounts not fileddeadline was 31-07-2026 75 days late View
  • Positive: Among the best 12% on equitysector median €491,189 · 8,983 companies €2.3m View
  • Positive: 7 profitable years in a rowprofit 2024: €33,871 7 years View
  • Heads a groupcompanies controlled 4 View

By topic

Financials

Financial year
2024
Total assets
€2.9m
Profit
€33,871
Solvency
80.2%
Total assets▼ 4.0%
Net result
20182024
Go to Financials

Timeline

Events
47
Since
1984
  1. 25-07-2024Annual accounts filed
  2. 31-12-2023Highest result from 2018 to 2024
  3. 31-12-2023Equity above €2m
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Wholesale of other machinery and equipmentNACE 46649
Founded
12-01-1983
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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