Formar: 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.
Formar
Largest movements
- Tangible fixed assets -€55,255
down €55,255 (-13.2%), from €417,767 to €362,512
of which Land and buildings: -€41,002
- Profit (loss) carried forward -€35,359
down €35,359 (-12.4%), from -€285,227 to -€320,585
- Revaluation surpluses -€25,801
down €25,801 (-40.1%), from €64,406 to €38,605
- Reserves +€16,528
up €16,528 (+3.9%), from €424,234 to €440,762
of which Distributable reserves: +€25,801
- Debts after one year -€8,969
down €8,969 (-7.7%), from €115,831 to €106,863
- Taxes +€5,354
up €5,354 (+362.9%), from €1,476 to €6,830
- Gross operating margin -€1,985
down €1,985 (-6.2%), from €32,191 to €30,206
- Depreciation +€1,210
up €1,210 (+2.2%), from €54,045 to €55,255
- Financial charges -€772
down €772 (-13.0%), from €5,962 to €5,190
- Other operating charges +€490
up €490 (+5.2%), from €9,391 to €9,881
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 | €417,840 | €363,136 | -€54,704 | -13.1% |
| Fixed assets | 21/28 | €417,817 | €362,562 | -€55,255 | -13.2% |
| Tangible fixed assets | 22/27 | €417,767 | €362,512 | -€55,255 | -13.2% |
| Land and buildings | 22 | €333,138 | €292,136 | -€41,002 | -12.3% |
| Plant, machinery and equipment | 23 | €78,921 | €66,917 | -€12,004 | -15.2% |
| Furniture and vehicles | 24 | €5,708 | €3,459 | -€2,249 | -39.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €23 | €574 | +€551 | +2391.2% |
| Cash at bank and in hand | 54/58 | €23 | €574 | +€551 | +2391.2% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €417,840 | €363,136 | -€54,704 | -13.1% |
| Equity | 10/15 | €222,005 | €177,374 | -€44,632 | -20.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €64,406 | €38,605 | -€25,801 | -40.1% |
| Reserves | 13 | €424,234 | €440,762 | +€16,528 | +3.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €99,957 | €90,684 | -€9,273 | -9.3% |
| Distributable reserves | 133 | €322,418 | €348,219 | +€25,801 | +8.0% |
| Profit (loss) carried forward | 14 | -€285,227 | -€320,585 | -€35,359 | -12.4% |
| Provisions and deferred taxes | 16 | €24,989 | €22,671 | -€2,318 | -9.3% |
| Deferred taxes | 168 | €24,989 | €22,671 | -€2,318 | -9.3% |
| Amounts payable | 17/49 | €170,846 | €163,092 | -€7,754 | -4.5% |
| Amounts payable after more than one year | 17 | €115,831 | €106,863 | -€8,969 | -7.7% |
| Financial debts | 170/4 | €115,831 | €106,863 | -€8,969 | -7.7% |
| Amounts payable within one year | 42/48 | €55,014 | €56,229 | +€1,215 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €10,329 | €9,847 | -€481 | -4.7% |
| Trade debts | 44 | €257 | €731 | +€474 | +185.0% |
| Suppliers | 440/4 | €257 | €731 | +€474 | +185.0% |
| Taxes, remuneration and social security | 45 | €1,906 | €1,884 | -€22 | -1.1% |
| Taxes | 450/3 | €1,906 | €1,884 | -€22 | -1.1% |
| Other amounts payable | 47/48 | €42,523 | €43,767 | +€1,244 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,045 | €55,255 | +€1,210 | +2.2% |
| Other operating charges | 640/8 | €9,391 | €9,881 | +€490 | +5.2% |
| Gross operating margin | 9900 | €32,191 | €30,206 | -€1,985 | -6.2% |
| Operating profit (loss) | 9901 | -€31,245 | -€34,930 | -€3,685 | -11.8% |
| Financial charges | 65/66B | €5,962 | €5,190 | -€772 | -13.0% |
| Recurring financial charges | 65 | €5,962 | €5,190 | -€772 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€37,207 | -€40,120 | -€2,913 | -7.8% |
| Transfer from deferred taxes | 780 | €2,318 | €2,318 | = | 0.0% |
| Income taxes | 67/77 | €1,476 | €6,830 | +€5,354 | +362.9% |
| Profit (loss) for the period | 9904 | -€36,364 | -€44,632 | -€8,267 | -22.7% |
| Transfer from tax-exempt reserves | 789 | €9,273 | €9,273 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,091 | -€35,359 | -€8,267 | -30.5% |
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 6 October 2026 via checked.be.