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Formic

Active
Public limited companyfounded 1968active for 58 yearsChemin du Moulin 22, 1380 Lasne, BelgiumKBO/BCE: BE 0402.618.888
Summary

Formic has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€80,686) and a net result of €6,578. Equity has been shrinking by about 38% per year since 2018. Its solvency ranks better than 27% of 57 sector peers (NACE 15, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisFollow ReportCompare
FormicActiveChecked score 55/100
Risk analysis ReportCompare

Overview

Overview

Official details

Source: KBO
Status
Active Normal situation
Activity
Manufacture of leather and related products NACE 15200and 1 other
Establishment unit
2.003.607.155 1380 Lasne, since 01-06-1949
Financial year end
31 December
Peppol
Reachable since 22-12-2025
Company details

Board and ownership

Board
Board & ownership

Financial position

55 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
0.9%
Annual accounts 2025
Gross margin
€156,782
▲ 77.5%
Turnover
≈ €400,000
estimated
Profit
€6,578
Equity
-€80,686
▲ 7.5%
Total assets
€1.1m
▼ 3.4%
Staff
≈ 0.6 FTE
estimated
  • Negative equity on 31-12-2025
  • 2025 accounts filed 61 days after the deadline
Filed on 30-09-2026
Financials
Score breakdownraises riskCapped at 59: negative equityNegative equity -€80,686Last filed accounts filed 61 days late; 3 of the last 3 accounts lateLiquidity: current ratio 0.09, cash €23,830lowers riskSize: total assets €1.1mShow the evidence

Checked score

Score 2025
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 48% of micro companies in leather and related products (NACE 15)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency 17=
equity -7.7% of total assets
Liquidity 11=
short-term debt 76.9% · cash 2.3%
Profitability 70+40
return on assets 0.6%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.8% (53 companies, NACE 15, micro)
Last 24 months 12-2024: 1.1% 01-2025: 1.1%● unchanged vs 12-2024 02-2025: 1.1%● unchanged vs 01-2025 03-2025: 1.1%● unchanged vs 02-2025 04-2025: 1.1%● unchanged vs 03-2025 05-2025: 1.2%▲ +0.1 percentage points vs 04-2025 06-2025: 1.1%▼ -0.1 percentage points vs 05-2025 07-2025: 1.3%▲ +0.2 percentage points vs 06-2025 08-2025: 1.9%▲ +0.6 percentage points vs 07-2025 09-2025: 2.3%▲ +0.4 percentage points vs 08-2025 10-2025: 3.1%▲ +0.8 percentage points vs 09-2025highest value 11-2025: 2.3%▼ -0.8 percentage points vs 10-2025 12-2025: 2.3%● unchanged vs 11-2025 01-2026: 2.3%● unchanged vs 12-2025 02-2026: 2.3%● unchanged vs 01-2026 03-2026: 2.3%● unchanged vs 02-2026 04-2026: 2.3%● unchanged vs 03-2026 05-2026: 2.3%● unchanged vs 04-2026 06-2026: 2.3%● unchanged vs 05-2026 07-2026: 2.4%▲ +0.1 percentage points vs 06-2026 08-2026: 2.7%▲ +0.3 percentage points vs 07-2026 09-2026: 2.7%● unchanged vs 08-2026 10-2026: 0.9%▼ -1.8 percentage points vs 09-2026lowest value 11-2026: 0.9%● unchanged vs 10-2026lowest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.09 (0.07 in 2024), below 1. Short-term debt is 76.9% and cash 2.3% of total assets. Equity is negative.
Calculation

The band follows from the bankruptcy probability. 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 15, micro). It does better than 34% of them on solvency, 16% on liquidity, 68% on profitability and 73% on growth.

The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
lowers risk · Size: total assets €1.1m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Negative equity -€80,686
NBB · annual accounts
raises risk · Last filed accounts filed 61 days late; 3 of the last 3 accounts late
NBB · filings
raises risk · Liquidity: current ratio 0.09, cash €23,830
NBB · annual accounts
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 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
61 days late
2024
92 days late
2023
61 days late
2022
13 days early
2021
26 days early
2020
27 days late
2019
96 days late
← before the deadline after the deadline →
tick = median of all Belgian filings

The company filed its last 7 accounts on average 43 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 September (4 of the last 5 accounts filed within 74 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, full format

2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00544372.

Annual accounts 2025 filed on 30-09-2026 at the NBB all 46 filings

Turnover
≈ €400,000
Estimated: probably between €240,000 and €750,000
EBIT margin
Not included in this filing
Net result
€6,578
2024 · -€87,111
Working capital
-€734,670▲ 1.8%
2024 · -€748,163
In the rankings #8 company by total assets in Lasne, Manufacturing sector
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a profit of €26,930, after a loss of €40,990 in 2024. It is the highest result since 2021.

Operating result€0.03m 2025 Net result€0.007m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of leather and related products (NACE 15). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.06m-€0.05m▼ 28.0%€0.06m▲ 21.5%-€0.01m-€0.07m▼ 491%-€0.03m▲ 65.6%-€0.04m▼ 60.2%€0.03m
Net result€0.03m-€0.006m▼ 80.3%€0.01mwithin the sector's middle half▲ 114%-€0.05mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 114%-€0.05m▲ 50.4%-€0.09m▼ 71.4%€0.007m
Equity€0.2m-€0.2m▲ 3.2%€0.2mabove the sector's middle half▲ 6.7%€0.2mabove the sector's middle half▼ 21.8%€0.07mwithin the sector's middle half▼ 59.5%€0.02m▼ 72.8%-€0.09m-€0.08m▲ 7.5%
Total assets€1.4m-€1.4m▼ 2.0%€1.5mabove the sector's middle half▲ 8.6%€1.5mabove the sector's middle half▼ 0.9%€1.3mabove the sector's middle half▼ 11.1%€1.2m▼ 7.8%€1.1m▼ 11.7%€1.1m▼ 3.4%
Debt€1.2m-€1.2m▼ 2.9%€1.3m▲ 8.9%€1.3m▲ 2.7%€1.3m▼ 4.8%€1.2m▼ 4.2%€1.2m▼ 3.1%€1.1m▼ 3.7%
Working capital-€0.5m--€0.5m▲ 8.5%-€0.5mbelow the sector's middle half▲ 2.2%-€0.6mbelow the sector's middle half▼ 15.4%-€0.7mbelow the sector's middle half▼ 20.4%-€0.7m▼ 3.2%-€0.7m▼ 8.2%-€0.7m▲ 1.8%
Solvency14.0%-14.8%▲ 0.7pp14.5%within the sector's middle half▼ 0.3pp11.5%within the sector's middle half▼ 3.1pp5.2%within the sector's middle half▼ 6.2pp1.5%▼ 3.7pp-8.0%▼ 9.6pp-7.7%▲ 0.3pp
Current ratio0.17-0.23▲ 0.060.32▲ 0.090.30below the sector's middle half▼ 0.010.16▼ 0.140.14▼ 0.020.07▼ 0.060.09▲ 0.02
Return on assets (ROA)2.3%-0.5%▼ 1.8pp0.9%▲ 0.4pp-3.2%within the sector's middle half▼ 4.1pp-7.7%below the sector's middle half▼ 4.5pp-4.1%▲ 3.5pp-8.0%▼ 3.9pp0.6%▲ 8.6pp
Staff (FTE)2.50.5▼ 80.0%
above within below The sector band is the middle half of the companies in Manufacture of leather and related products (NACE 15). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets €977,134 ▼ 5.1%
Current assets €72,986 ▲ 27.1%
Equity and liabilities
Equity-€80,686
Debt€1.1m
Equity is negative. Debt (€1.1m) exceeds the balance-sheet total (€1.1m).
Key figures and ratios
2025 value · change against 2024
EBITDA
€123,160▲
2024 · €56,353
Cash flow
€102,808▲
2024 · €10,232
Interest coverage
6.05▲
2024 · 2.51
Debt ≤ 1 year
€807,657▲
2024 · €805,605
Debt > 1 year
€322,700▼
2024 · €368,537
Staff costs
€26,168▲
2024 · €24,788
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202231-12-2023
Employees at the balance-sheet date11
part-time11
in full-time equivalents0.50.5
Average over the year, in full-time equivalents0.90.5
On a permanent contract11
Joined2-
Left4-

Source: social balance sheet in the 2022 to 2023 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€73,374€62,340€50,738€4,356€43,478
Depreciation and write-downs of the year€104,905€113,453€98,139€97,343€96,230

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as Formic: manufacture of leather and related products (NACE 15200). They are comparable in size and age: total assets between €353,000 and €4.5m, founded between 1947 and 1989.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
Formic Lasne1968€1.1m-€0.08m€0.2m€0.007m-2025
BELGIAN QUALITY SHOES AND LEATHERWARE GROUP Tongeren-Borgloon1947€1.6m€0.8m€0.3m-€0.02m5.82025
BELGIAN SHOES Izegem1974€1.2m€0.9m€0.8m€0.3m12.52025
ORTHO SHOE Roeselare1977€0.4m€0.3m€0.09m€0.04m-2025
VANO Tielt1985€0.4m€0.1m€0.06m-€0.03m-2025
ORTHOPEDIE MARTENS Pelt1987€4.5m€4.4m€0.4m€0.3m12025
AMBIORIX Tongeren-Borgloon1989€3.8m€1.6m€0.8m€0.06m14.42025

They were chosen from the 29 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 519 companies had the same profile as Formic has now. Two years later, 2.9% had gone bankrupt and 91.7% were still going.

  • Small
  • 20 years or older
  • negative equity
  • a profit under 5% of the balance sheet
2.9% went bankrupt
3.9% stopped otherwise
91.7% was still going

Another 1.5% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of Formic itself: 0.9% within 12 months.

Test of the method

The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 519 companies, not a prediction for Formic. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines

Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.

Balance sheet Code20242025
Assets
Total assets20/58€1.1m€1.1m▼
Fixed assets21/28€1.0m€1.0m▼
Tangible fixed assets22/27€1.0m€1.0m▼
Land and buildings22€0.9m€0.8m▼
Plant, machinery and equipment23€0.1m€0.1m▲
Furniture and vehicles24€0.03m€0.03m▼
Financial fixed assets28€90€90=
Current assets29/58€0.06m€0.07m▲
Amounts receivable within one year40/41€0.05m€0.05m▲
Trade receivables40€0.02m€0.02m▼
Other amounts receivable41€0.03m€0.03m▲
Current investments50/53€61€61=
Cash at bank and in hand54/58€0.009m€0.02m▲
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.1m▼
Equity10/15-€0.09m-€0.08m▲
Contributions10/11€0.06m€0.06m=
Capital10€0.06m€0.06m=
Issued capital100€0.06m€0.06m=
Reserves13€0.2m€0.2m▼
Non-distributable reserves130/1€0.003m€0.003m=
Legal reserve130€0.003m€0.003m=
Tax-exempt reserves132€0.2m€0.2m▼
Distributable reserves133€0.02m€0.02m=
Profit (loss) carried forward14-€0.4m-€0.3m▲
Amounts payable17/49€1.2m€1.1m▼
Amounts payable after more than one year17€0.4m€0.3m▼
Financial debts170/4€0.4m€0.3m▼
Amounts payable within one year42/48€0.8m€0.8m▲
Current portion of amounts payable after more than one year42€0.05m€0.05m▲
Trade debts44€0.03m€0.03m▲
Suppliers440/4€0.03m€0.03m▲
Taxes, remuneration and social security45€0.005m€0.005m▲
Taxes450/3€0.001m-
Remuneration and social security454/9€0.004m€0.005m▲
Other amounts payable47/48€0.7m€0.7m▼
Accrued charges and deferred income492/3€450€450=
Income statement Code20242025
Remuneration, social security and pensions62€0.02m€0.03m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m▼
Other operating charges640/8€0.007m€0.007m▲
Gross operating margin9900€0.09m€0.2m▲
Operating profit (loss)9901-€0.04m€0.03m▲
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€0.07m€0.02m▼
Recurring financial charges65€0.02m€0.02m▼
Non-recurring financial charges66B€0.04m-
Profit (loss) for the period before taxes9903-€0.1m€0.007m▲
Transfer from deferred taxes780€0.02m-
Income taxes67/77€228-
Profit (loss) for the period9904-€0.09m€0.007m▲
Transfer from tax-exempt reserves789-€0.02m
Profit (loss) for the period to be appropriated9905-€0.09m€0.03m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.4m-€0.3m▲
Profit (loss) brought forward from the previous period14P-€0.3m-€0.4m▼

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Remuneration, social security and pensions62---€16,102€24,087€21,445€24,788€26,168▲ 5.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€76,633€78,012€91,316€104,905€113,453€98,139€97,343€96,230▼ 1.1%
Other operating charges640/8---€7,736€6,807€7,365€7,200€7,453▲ 3.5%
Gross operating margin9900€149,074€134,273€163,525€116,158€69,941€101,366€88,342€156,782▲ 77.5%
Operating profit (loss)9901€64,758€46,607€56,629-€12,584-€74,406-€25,583-€40,990€26,930-
Financial income75/76B----€0€0-€0-
Recurring financial income75€78€0€0-€0€0-€0-
Financial charges65/66B---€30,413€27,647€24,707€65,039€20,352▼ 68.7%
Recurring financial charges65€31,985€30,537€30,225€30,413€27,647€24,707€22,439€20,352▼ 9.3%
Non-recurring financial charges66B------€42,600--
Profit (loss) for the period before taxes9903€32,851€16,070€26,404-€42,997-€102,052-€50,289-€106,028€6,578-
Transfer from deferred taxes780------€19,145--
Income taxes67/77€124€9,638€12,638€4,989€428€530€228--
Profit (loss) for the period9904€32,726€6,432€13,765-€47,986-€102,480-€50,820-€87,111€6,578-
Transfer from tax-exempt reserves789---€19,145€19,145€19,145-€19,145-
Profit (loss) for the period to be appropriated9905€51,872€25,577€32,911-€28,841-€83,335-€31,674-€87,111€25,723-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€1.4m€1.4m€1.5m€1.5m€1.3m€1.2m€1.1m€1.1m▼ 3.4%
Fixed assets21/28€1.3m€1.3m€1.3m€1.3m€1.2m€1.1m€1.0m€1.0m▼ 5.1%
Tangible fixed assets22/27€1.3m€1.3m€1.3m€1.3m€1.2m€1.1m€1.0m€1.0m▼ 5.1%
Land and buildings22---€1.0m€1.0m€0.9m€0.9m€0.8m▼ 6.3%
Plant, machinery and equipment23---€0.1m€0.1m€0.1m€0.1m€0.1m▲ 7.3%
Furniture and vehicles24---€0.09m€0.09m€0.05m€0.03m€0.03m▼ 20.8%
Other tangible fixed assets26---€0.002m€0.001m----
Financial fixed assets28€90€90€90€90€90€90€90€90=
Current assets29/58€0.1m€0.1m€0.2m€0.2m€0.1m€0.1m€0.06m€0.07m▲ 27.1%
Amounts receivable within one year40/41€0.1m€0.1m€0.2m€0.2m€0.1m€0.1m€0.05m€0.05m▲ 1.3%
Trade receivables40---€0.2m€0.007m€0.03m€0.02m€0.02m▼ 17.4%
Other amounts receivable41---€0.05m€0.09m€0.07m€0.03m€0.03m▲ 16.5%
Current investments50/53€61€61€61€61€61€61€61€61=
Cash at bank and in hand54/58€0.007m€0.001m€0.01m€0.005m€0.03m€0.005m€0.009m€0.02m▲ 168%
Deferred charges and accrued income490/1----€0.004m----
Equity and liabilities
Total equity and liabilities10/49€1.4m€1.4m€1.5m€1.5m€1.3m€1.2m€1.1m€1.1m▼ 3.4%
Equity10/15€0.2m€0.2m€0.2m€0.2m€0.07m€0.02m-€0.09m-€0.08m▲ 7.5%
Contributions10/11€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m=
Capital10---€0.06m€0.06m€0.06m€0.06m€0.06m=
Issued capital100---€0.06m€0.06m€0.06m€0.06m€0.06m=
Reserves13€0.3m€0.3m€0.3m€0.3m€0.3m€0.2m€0.2m€0.2m▼ 8.8%
Non-distributable reserves130/1---€0.003m€0.003m€0.003m€0.003m€0.003m=
Legal reserve130---€0.003m€0.003m€0.003m€0.003m€0.003m=
Tax-exempt reserves132---€0.3m€0.2m€0.2m€0.2m€0.2m▼ 9.7%
Distributable reserves133---€0.02m€0.02m€0.02m€0.02m€0.02m=
Profit (loss) carried forward14-€0.2m-€0.2m-€0.1m-€0.2m-€0.2m-€0.3m-€0.4m-€0.3m▲ 7.0%
Amounts payable17/49€1.2m€1.2m€1.3m€1.3m€1.3m€1.2m€1.2m€1.1m▼ 3.7%
Amounts payable after more than one year17€0.6m€0.6m€0.6m€0.5m€0.5m€0.4m€0.4m€0.3m▼ 12.4%
Financial debts170/4---€0.5m€0.5m€0.4m€0.4m€0.3m▼ 12.4%
Amounts payable within one year42/48€0.6m€0.6m€0.7m€0.8m€0.8m€0.8m€0.8m€0.8m▲ 0.3%
Current portion of amounts payable after more than one year42---€0.07m€0.07m€0.04m€0.05m€0.05m▲ 5.1%
Trade debts44€0.03m€0.03m€0.04m€0.1m€0.05m€0.03m€0.03m€0.03m▲ 0.5%
Suppliers440/4---€0.1m€0.05m€0.03m€0.03m€0.03m▲ 0.5%
Taxes, remuneration and social security45---€0.005m€0.007m€0.004m€0.005m€0.005m▲ 1.9%
Taxes450/3---€0.001m€0.001m€0.001m€0.001m--
Remuneration and social security454/9---€0.004m€0.007m€0.003m€0.004m€0.005m▲ 19.1%
Other amounts payable47/48---€0.6m€0.7m€0.7m€0.7m€0.7m▼ 0.1%
Accrued charges and deferred income492/3------€450€450=
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€32,726€6,432€13,765-€47,986-€102,480-€50,820-€87,111€6,578-
+ Depreciation and write-downs630€76,633€78,012€91,316€104,905€113,453€98,139€97,343€96,230▼ 1.1%
Operating cash flow (approximation)€109,360€84,443€105,081€56,919€10,973€47,319€10,232€102,808▲ 905%
Investment in fixed assets (approximation)--€13,923-€132,984-€73,374-€62,340-€11,760-€4,356-€43,478▼ 898%
Change in cash--€5,789€12,686-€9,262€21,886-€21,498€3,606€14,926▲ 314%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 46 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 30-09-2026 2026-00544372 NBB
31-12-2024 full format 31-10-2025 2025-00557502 PDF
31-12-2023 full format 30-09-2024 2024-00485730 PDF
31-12-2022 micro format 18-07-2023 2023-00252148 PDF
31-12-2021 micro format 05-07-2022 2022-20160482 PDF
31-12-2020 micro format 27-08-2021 2021-58900401 PDF
31-12-2019 micro format 04-11-2020 2020-68800410 PDF
31-12-2018 micro format 29-08-2019 2019-62800527 PDF
31-12-2017 micro format 28-08-2018 2018-57900268 PDF
31-12-2016 full format 30-08-2017 2017-55500589 PDF

Show all 46 filings

Board & ownership

Directors

Directors
2 directors, 1 in day-to-day management, last change in 2024

Board 2

Cédric ANCIAUX
Director (not named in the articles) · since 07-02-2024 · earlier director, until 07-02-2024 · also on the board of 4 other companies · listed in the 2025 annual accounts, filed on 30-09-2026
Current
HAFNER Alexandra Nicolaja Fabienne
Director (not named in the articles) · since 07-02-2024 · earlier director, until 07-02-2024 · listed in the 2025 annual accounts, filed on 30-09-2026
Current

Day-to-day management 1

Cédric ANCIAUX
Managing director · appointed in the act of 07-02-2024
Current
Office holders in the KBO →

Owners and capital

Capital transactions

Capital over time
  1. 07-02-2024 Capital stated in the deed · €62,000 · 200 shares

Mandate history

2 people, 2 in office
Show
  • Board
  • Day-to-day management
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Cédric ANCIAUX
  • Director, until 07-02-2024
  • Director (not named in the articles), since before 07-02-2024
  • Managing director, appointed in the act of 07-02-2024, still in office
HAFNER Alexandra Nicolaja Fabienne
  • Director, until 07-02-2024
  • Director (not named in the articles), since before 07-02-2024
See the board, name and registered office on a given date →

Articles of association

Board ruleThese rules set how the board is made up, meets and takes decisions.
“Conseil d'administration, six ans au plus”
“Conseil d'administration, majorité membres présents ou représentés”

Articles of association, deed of 07-02-2024 (in French)

Network & group

Board mandates elsewhere

1 board mandate
Board mandates of FormicFormic sits on their board1
THAITRUCK
3 locations

Companies at the same address

5 other companies

Connections & network

5 connected companies
Depth
Cédric ANCIAUX, Shared director, links 5 companies CACédric ANCIAUXFARGO, via Cédric ANCIAUX FFARGOForsok, via Cédric ANCIAUX FForsokIMOSAINTBO, via Cédric ANCIAUX IIMOSAINTBOPAIX 14, via Cédric ANCIAUX P1PAIX 14CREACEDIMO, via Cédric ANCIAUX CCREACEDIMOFormic Formic0402.618.888
Shared directors
This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
FARGO
via Cédric ANCIAUX · Director (not named in the articles)
→
Forsok
via Cédric ANCIAUX · Director (not named in the articles)
→
IMOSAINTBO
via Cédric ANCIAUX · Director (not named in the articles)
→
PAIX 14
via Cédric ANCIAUX · Director (not named in the articles)
→
Show 1 more companies with a shared director
CREACEDIMO
via Cédric ANCIAUX · Director
former→

Timeline

Acts, filings and financial milestones

Deadline for the 2026 accounts: 31-07-2027
2026
30-09
NBB filing Annual accounts 2025 filedNBB
full format · 61 days late
2025
31-12
Financial Back to profitnet €6,578
The net result is €6,578, after 4 loss-making years.
31-10
NBB filing Annual accounts 2024 filedPDF
full format · 92 days late
2024
30-09
NBB filing Annual accounts 2023 filedPDF
full format · 61 days late
07-02
Gazette deed Purpose · Amendment of the articles · Resignations & appointments
Change of role: ANCIAUX Cédric Daniel Robert, from director to managing director · Resignation: HAFNER Alexandra Nicolaja Fabienne (director) · Reappointments: ANCIAUX Cédric Daniel Robert (director) and HAFNER Alexandra Nicolaja Fabienne (director)15 points ▸
  • General meeting, 26-01-2024
  • Incorporation, 08-06-1949
  • Amendment of the articles, mentioned 2 times in the deed
  • Purpose change
  • Capital, €62,000
  • Other provision, “ratification actes administrateurs, administrateurs dont pouvoirs non renouvelés lors assemblée ordinaire du 2022-05-20 mais restés en fonction” (deed in French)
  • Director resignation, ANCIAUX Cédric Daniel Robert (director)
  • Director resignation, HAFNER Alexandra Nicolaja Fabienne (director)
  • Director reappointment, ANCIAUX Cédric Daniel Robert (director (not named in the articles))
  • Director reappointment, HAFNER Alexandra Nicolaja Fabienne (director (not named in the articles))
  • Director discharge, ANCIAUX Cédric Daniel Robert
  • Director discharge, HAFNER Alexandra Nicolaja Fabienne
  • The act holds 3 more points.

Open the act in the Belgian Official Gazette

2023
18-07
NBB filing Annual accounts 2022 filedPDF
micro format · 13 days before the deadline
2022
31-12
Financial Weakest financial yearnet -€102,480
The net result drops to -€102,480, the lowest from 2018 to 2025. It recovers the following year.
05-07
NBB filing Annual accounts 2021 filedPDF
micro format · 26 days before the deadline
2021
27-08
NBB filing Annual accounts 2020 filedPDF
micro format · 27 days late
2020
04-11
NBB filing Annual accounts 2019 filedPDF
micro format · 96 days late
2019
29-08
NBB filing Annual accounts 2018 filedPDF
micro format · 29 days late
2018
28-08
NBB filing Annual accounts 2017 filedPDF
micro format · 28 days late
2017
30-08
NBB filing Annual accounts 2016 filedPDF
full format · 30 days late

Show all 46 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official GazetteFilings with the National Bank

History

Formic was incorporated on 1 January 1968.1 Total assets fell from €1.4m in 2018 to €1.1m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Register details

Identity

KBO record
Name Formic in French
Enterprise number 0402.618.888
Legal form Public limited company
Status Active, normale toestand
Founded 01-01-1968
Entity type Legal entity
Legal form clauseThe legal form, such as BV, NV or CV, which decides which company-law rules apply.
“Titre I:Forme légale–Dénomination–Siège–Objet–Durée, 1”
deed of 07-02-2024 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, 2”
“Sièges d’exploitation, 2”
deed of 07-02-2024 (in French)

Registered office and establishments

Registered office Chemin du Moulin 22, 1380 Lasne, Belgium
Establishment unit Chemin du Moulin 22, 1380 Lasne since 01-06-1949 · unit number 2.003.607.1551520002 Manufacture of leather and related products

Activities

NACEBEL 2025
VAT activities
15200 Manufacture of leather and related products main activity
Social security (RSZ) activities
56210 Event catering main activity
Codes under NACEBEL 2008
VAT activities
15200 Manufacture of leather and related products main activity
Social security (RSZ) activities
56210 Catering main activity
Codes under NACEBEL 2003
19301 main activity
19302
PurposeThe purpose describes the activities the company may carry out under its articles.
“L’acquisition par voie de souscription ou d’achat d’actions ou parts,d’obligations,de bons de caisse ou d’autres valeurs mobilières,quelle…”
8 activities
  1. L’acquisition par voie de souscription ou d’achat d’actions ou parts,d’obligations,de bons de caisse ou d’autres valeurs mobilières,quelle que soit leur nature,de sociétés belges ou étrangères,existantes ou à constituer,ainsi que la gestion de ces valeurs
  2. L’activité de conseil en matière financière,technique,commerciale ou administrative,au sens large,l’assistance et la fourniture de services,directement ou indirectement,dans le domaine administratif et financier,dans les ventes,la production et la gestion en général
  3. L’intervention,en tant qu’intermédiaire lors de négociations,pour la reprise partielle ou totale d’actions ou de parts;au sens le plus large,la participation à des opérations d’émission d’actions,de parts et de titres à revenus fixes,par voie de souscription,de cautionnement,d’achat et de vente ou autrement,ainsi que la réalisation de toutes opérations quelle que soit leur nature,en matière de gestion de portefeuilles ou de capitaux
  4. L’exercice de toutes missions d’administration et l’exercice de mandats et de fonctions dans d’autres sociétés notamment comme administrateur,gérant,directeur ou liquidateur
  5. Le développement,l’achat,la vente,la concession comme preneur ou concédant de licences,de brevets,de savoir-faire et d’autres immobilisations incorporelles
  6. La société a également pour objet,tant en Belgique qu’à l’étranger,pour compte propre ou compte de tiers ou en participation avec ceux-ci,la gestion et la valorisation,dans la plus large acceptation du terme,de son patrimoine immobilier et mobilier,et notamment la location,le leasing,l’aménagement,l’exploitation,la transformation,la viabilisation,le lotissement de tous ses biens ou droits,la mise à disposition de locaux et de services
  7. L’achat,l’échange,la vente,la prise en location et en sous-location,ainsi que la cession en location et en sous-location,le tout avec ou sans option d’achat,l’exploitation et l’entretien de maisons,appartements,bureaux,magasins,fonds de commerce,terrains,terres et domaines,et de manière générale,de tous biens immobiliers,ainsi que toutes opérations de financement
  8. Elle pourra ériger toutes constructions pour son compte ou pour compte de tiers,en tant que maître de l’ouvrage ou entrepreneur général,et effectuer,éventuellement aux biens immobiliers,des transformations et mises en valeur ainsi que l’étude et l’aménagement de lotissements y compris la construction de routes et d’égouts;souscrire des engagements en tant que conseiller en construction(études de génie civil et des divers équipements techniques des immeubles);acheter tous matériaux,signer tous contrats d’entreprises qui seraient nécessaires;réaliser toutes opérations de change,commission et courtage,ainsi que la gérance d’immeubles
deed of 07-02-2024 (in French)

Invoicing and payment

VAT number BE 0402.618.888
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0402618888
Other Peppol ID 9925:BE0402618888
Registered 22-12-2025

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 1 November 2026 · Peppol Directory

Financial year and general meeting

Accounts at the NBB
Financial year end 31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“Titre VI: Assemblée générale Article 24: Tenue et convocation L’assemblée générale ordinaire se réunit annuellement le 3ième vendredi de mai…”
deed of 07-02-2024 (in French)

Sites & property

Location
registered office establishment The establishment unit on the map
6 companies at this address See who is registered here

Buildings and parcels at the address

Ground area
4,015 m²
Building footprint
261 m²
Building volume
1,858 m³
Cadastral parcel Region Area Buildings Height / floors
25076B0219/00V000 Wallonia 4,015 m² 1 · 261 m² 9.9 m · 2

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