ForMat Efficiency: what changed
Two financial 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.
ForMat Efficiency
Largest movements
- Receivables within one year +€74,792
up €74,792 (+49.6%), from €150,659 to €225,451
of which Trade receivables: +€54,041
- Cash -€57,178
down €57,178 (-35.3%), from €162,200 to €105,021
mainly Receivables within one year (-€74,792) and Trade debts (-€67,198)
- Tangible fixed assets -€27,157
down €27,157 (-26.7%), from €101,558 to €74,401
of which Furniture and vehicles: -€14,794
- Stocks and contracts +€5,735
up €5,735 (+20.4%), from €28,163 to €33,897
- Profit (loss) carried forward +€112,222
up €112,222 (+59.3%), from -€189,322 to -€77,100
- Trade debts -€67,198
down €67,198 (-39.1%), from €171,680 to €104,482
- Short-term financial debts -€59,525
down €59,525 (-13.0%), from €459,525 to €400,000
of which Other loans: -€159,525
- Accrued charges and deferred income +€11,698
up €11,698 (+3,110%), from €376 to €12,074
- Gross operating margin +€308,817
up €308,817, from -€74,816 to €234,000
- Staff costs +€24,940
up €24,940 (+82.9%), from €30,076 to €55,016
- Taxes -€16,982
no longer reported in 2025 (was €16,982)
- Depreciation -€16,012
down €16,012 (-29.4%), from €54,484 to €38,472
- Other operating charges -€3,222
down €3,222 (-34.3%), from €9,405 to €6,183
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.
Derived cash bridge
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 | €454,332 | €453,415 | -€918 | -0.2% |
| Fixed assets | 21/28 | €111,763 | €84,606 | -€27,157 | -24.3% |
| Tangible fixed assets | 22/27 | €101,558 | €74,401 | -€27,157 | -26.7% |
| Plant, machinery and equipment | 23 | €39,548 | €27,185 | -€12,363 | -31.3% |
| Furniture and vehicles | 24 | €62,010 | €47,216 | -€14,794 | -23.9% |
| Financial fixed assets | 28 | €10,205 | €10,205 | = | 0.0% |
| Current assets | 29/58 | €342,569 | €368,808 | +€26,239 | +7.7% |
| Stocks and contracts in progress | 3 | €28,163 | €33,897 | +€5,735 | +20.4% |
| Stocks | 30/36 | €28,163 | €33,897 | +€5,735 | +20.4% |
| Amounts receivable within one year | 40/41 | €150,659 | €225,451 | +€74,792 | +49.6% |
| Trade receivables | 40 | €111,069 | €165,111 | +€54,041 | +48.7% |
| Other amounts receivable | 41 | €39,590 | €60,341 | +€20,751 | +52.4% |
| Cash at bank and in hand | 54/58 | €162,200 | €105,021 | -€57,178 | -35.3% |
| Deferred charges and accrued income | 490/1 | €1,548 | €4,439 | +€2,891 | +187% |
| Total equity and liabilities | 10/49 | €454,332 | €453,415 | -€918 | -0.2% |
| Equity | 10/15 | -€181,262 | -€69,040 | +€112,222 | +61.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,322 | -€77,100 | +€112,222 | +59.3% |
| Amounts payable | 17/49 | €635,594 | €522,455 | -€113,139 | -17.8% |
| Amounts payable within one year | 42/48 | €635,218 | €510,381 | -€124,837 | -19.7% |
| Financial debts | 43 | €459,525 | €400,000 | -€59,525 | -13.0% |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Other loans | 439 | €459,525 | €300,000 | -€159,525 | -34.7% |
| Trade debts | 44 | €171,680 | €104,482 | -€67,198 | -39.1% |
| Suppliers | 440/4 | €171,680 | €104,482 | -€67,198 | -39.1% |
| Taxes, remuneration and social security | 45 | €3,972 | €5,899 | +€1,926 | +48.5% |
| Taxes | 450/3 | €1,726 | €4,167 | +€2,441 | +141% |
| Remuneration and social security | 454/9 | €2,247 | €1,732 | -€515 | -22.9% |
| Other amounts payable | 47/48 | €40 | - | -€40 | |
| Accrued charges and deferred income | 492/3 | €376 | €12,074 | +€11,698 | +3,110% |
| Remuneration, social security and pensions | 62 | €30,076 | €55,016 | +€24,940 | +82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,484 | €38,472 | -€16,012 | -29.4% |
| Other operating charges | 640/8 | €9,405 | €6,183 | -€3,222 | -34.3% |
| Non-recurring operating charges | 66A | €390 | - | -€390 | |
| Gross operating margin | 9900 | -€74,816 | €234,000 | +€308,817 | |
| Operating profit (loss) | 9901 | -€169,172 | €134,329 | +€303,501 | |
| Financial income | 75/76B | €1 | €765 | +€764 | +115,736% |
| Recurring financial income | 75 | €1 | €765 | +€764 | +115,736% |
| Financial charges | 65/66B | €23,860 | €22,871 | -€989 | -4.1% |
| Recurring financial charges | 65 | €17,838 | €22,871 | +€5,034 | +28.2% |
| Non-recurring financial charges | 66B | €6,022 | - | -€6,022 | |
| Profit (loss) for the period before taxes | 9903 | -€193,032 | €112,222 | +€305,254 | |
| Income taxes | 67/77 | €16,982 | - | -€16,982 | |
| Profit (loss) for the period | 9904 | -€210,014 | €112,222 | +€322,236 | |
| Profit (loss) for the period to be appropriated | 9905 | -€210,014 | €112,222 | +€322,236 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.