FORMANAC: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
FORMANAC
Largest movements
- Cash +€205,956
up €205,956 (+138.9%), from €148,255 to €354,211
mainly Net result for the year (+€178,045) and Tax, wage and social debts (+€57,634)
- Receivables within one year +€17,842
up €17,842 (+37.5%), from €47,606 to €65,447
of which Trade receivables: +€17,587
- Reserves +€178,045
up €178,045 (+150.2%), from €118,547 to €296,592
- Tax, wage and social debts +€57,634
up €57,634 (+117.5%), from €49,063 to €106,698
- Trade debts -€10,946
down €10,946 (-58.0%), from €18,870 to €7,924
- Turnover +€261,598
up €261,598 (+73.5%), from €355,884 to €617,482
- Gross operating margin +€142,440
up €142,440 (+96.5%), from €147,680 to €290,120
- Purchases and services +€119,275
up €119,275 (+57.2%), from €208,414 to €327,689
- Taxes +€44,374
up €44,374 (+134.9%), from €32,887 to €77,261
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €197,556 | €421,214 | +€223,658 | +113.2% |
| Formation expenses | 20 | €712 | €474 | -€237 | -33.3% |
| Fixed assets | 21/28 | €792 | €885 | +€93 | +11.7% |
| Tangible fixed assets | 22/27 | €792 | €885 | +€93 | +11.7% |
| Plant, machinery and equipment | 23 | €257 | €629 | +€372 | +144.6% |
| Furniture and vehicles | 24 | €535 | €256 | -€279 | -52.2% |
| Current assets | 29/58 | €196,053 | €419,854 | +€223,802 | +114.2% |
| Amounts receivable within one year | 40/41 | €47,606 | €65,447 | +€17,842 | +37.5% |
| Trade receivables | 40 | €47,606 | €65,193 | +€17,587 | +36.9% |
| Other amounts receivable | 41 | - | €255 | +€255 | |
| Cash at bank and in hand | 54/58 | €148,255 | €354,211 | +€205,956 | +138.9% |
| Deferred charges and accrued income | 490/1 | €192 | €197 | +€5 | +2.5% |
| Total equity and liabilities | 10/49 | €197,556 | €421,214 | +€223,658 | +113.2% |
| Equity | 10/15 | €128,547 | €306,592 | +€178,045 | +138.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €118,547 | €296,592 | +€178,045 | +150.2% |
| Non-distributable reserves | 130/1 | €118,547 | €296,592 | +€178,045 | +150.2% |
| Other | 1319 | €118,547 | €296,592 | +€178,045 | +150.2% |
| Amounts payable | 17/49 | €69,009 | €114,621 | +€45,612 | +66.1% |
| Amounts payable within one year | 42/48 | €69,009 | €114,621 | +€45,612 | +66.1% |
| Trade debts | 44 | €18,870 | €7,924 | -€10,946 | -58.0% |
| Suppliers | 440/4 | €18,870 | €7,924 | -€10,946 | -58.0% |
| Taxes, remuneration and social security | 45 | €49,063 | €106,698 | +€57,634 | +117.5% |
| Taxes | 450/3 | €49,063 | €106,698 | +€57,634 | +117.5% |
| Other amounts payable | 47/48 | €1,076 | €0 | -€1,076 | -100.0% |
| Turnover | 70 | €355,884 | €617,482 | +€261,598 | +73.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €208,414 | €327,689 | +€119,275 | +57.2% |
| Remuneration, social security and pensions | 62 | €30,342 | €33,134 | +€2,792 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €556 | €631 | +€75 | +13.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €605 | +€605 | |
| Gross operating margin | 9900 | €147,680 | €290,120 | +€142,440 | +96.5% |
| Operating profit (loss) | 9901 | €116,395 | €255,350 | +€138,955 | +119.4% |
| Financial charges | 65/66B | €7 | €44 | +€37 | +531.8% |
| Recurring financial charges | 65 | €7 | €44 | +€37 | +531.8% |
| Profit (loss) for the period before taxes | 9903 | €116,388 | €255,306 | +€138,918 | +119.4% |
| Income taxes | 67/77 | €32,887 | €77,261 | +€44,374 | +134.9% |
| Profit (loss) for the period | 9904 | €83,500 | €178,045 | +€94,545 | +113.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,500 | €178,045 | +€94,545 | +113.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.