FORMAZ: 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.
FORMAZ
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+470%), from €299,514 to €1.7m
of which Other amounts receivable: +€1.4m
- Cash -€633,252
down €633,252 (-89.6%), from €706,457 to €73,205
mainly Receivables within one year (-€1.4m) and Trade debts (-€70,124)
- Tangible fixed assets -€352,000
down €352,000 (-23.5%), from €1.5m to €1.1m
of which Land and buildings: -€205,326
- Profit (loss) carried forward +€453,525
up €453,525 (+27.6%), from €1.6m to €2.1m
- Tax, wage and social debts +€123,876
up €123,876 (+134%), from €92,198 to €216,075
of which Taxes: +€125,580
- Trade debts -€70,124
down €70,124 (-70.5%), from €99,472 to €29,348
- Debts after one year -€44,271
down €44,271 (-100%), from €44,271 to €0
- Current portion of long-term debt -€31,250
down €31,250 (-100%), from €31,250 to €0
- Gross operating margin +€86,564
up €86,564 (+5.9%), from €1.5m to €1.6m
- Depreciation -€54,983
down €54,983 (-17.0%), from €324,162 to €269,179
- Taxes +€44,707
up €44,707 (+35.9%), from €124,668 to €169,375
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 | €2,542,836 | €2,974,062 | +€431,227 | +17.0% |
| Fixed assets | 21/28 | €1,526,163 | €1,168,825 | -€357,338 | -23.4% |
| Intangible fixed assets | 21 | €24,872 | €19,533 | -€5,339 | -21.5% |
| Tangible fixed assets | 22/27 | €1,500,974 | €1,148,974 | -€352,000 | -23.5% |
| Land and buildings | 22 | €1,193,019 | €987,694 | -€205,326 | -17.2% |
| Plant, machinery and equipment | 23 | €28,562 | €17,537 | -€11,025 | -38.6% |
| Furniture and vehicles | 24 | €279,392 | €143,743 | -€135,649 | -48.6% |
| Financial fixed assets | 28 | €318 | €318 | = | 0.0% |
| Current assets | 29/58 | €1,016,672 | €1,805,237 | +€788,565 | +77.6% |
| Amounts receivable within one year | 40/41 | €299,514 | €1,707,920 | +€1.4m | +470% |
| Trade receivables | 40 | €292,307 | €289,131 | -€3,177 | -1.1% |
| Other amounts receivable | 41 | €7,206 | €1,418,790 | +€1.4m | +19,588% |
| Current investments | 50/53 | €0 | €8,319 | +€8,319 | |
| Cash at bank and in hand | 54/58 | €706,457 | €73,205 | -€633,252 | -89.6% |
| Deferred charges and accrued income | 490/1 | €10,702 | €15,793 | +€5,091 | +47.6% |
| Total equity and liabilities | 10/49 | €2,542,836 | €2,974,062 | +€431,227 | +17.0% |
| Equity | 10/15 | €2,272,158 | €2,725,682 | +€453,525 | +20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €613,077 | €613,077 | = | 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% |
| Distributable reserves | 133 | €611,217 | €611,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,640,480 | €2,094,005 | +€453,525 | +27.6% |
| Amounts payable | 17/49 | €270,678 | €248,380 | -€22,298 | -8.2% |
| Amounts payable after more than one year | 17 | €44,271 | €0 | -€44,271 | -100% |
| Financial debts | 170/4 | €44,271 | €0 | -€44,271 | -100% |
| Amounts payable within one year | 42/48 | €226,408 | €248,380 | +€21,973 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €31,250 | €0 | -€31,250 | -100% |
| Trade debts | 44 | €99,472 | €29,348 | -€70,124 | -70.5% |
| Suppliers | 440/4 | €99,472 | €29,348 | -€70,124 | -70.5% |
| Taxes, remuneration and social security | 45 | €92,198 | €216,075 | +€123,876 | +134% |
| Taxes | 450/3 | €24,885 | €150,465 | +€125,580 | +505% |
| Remuneration and social security | 454/9 | €67,313 | €65,609 | -€1,704 | -2.5% |
| Other amounts payable | 47/48 | €3,488 | €2,958 | -€530 | -15.2% |
| Non-recurring operating income | 76A | €19,490 | €22,435 | +€2,945 | +15.1% |
| Remuneration, social security and pensions | 62 | €655,593 | €656,301 | +€708 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324,162 | €269,179 | -€54,983 | -17.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €17,961 | €18,282 | +€321 | +1.8% |
| Gross operating margin | 9900 | €1,474,263 | €1,560,827 | +€86,564 | +5.9% |
| Operating profit (loss) | 9901 | €476,548 | €617,066 | +€140,518 | +29.5% |
| Financial income | 75/76B | €6,062 | €7,485 | +€1,423 | +23.5% |
| Recurring financial income | 75 | €6,062 | €7,485 | +€1,423 | +23.5% |
| Financial charges | 65/66B | €2,552 | €1,652 | -€901 | -35.3% |
| Recurring financial charges | 65 | €2,552 | €1,652 | -€901 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €480,057 | €622,900 | +€142,842 | +29.8% |
| Income taxes | 67/77 | €124,668 | €169,375 | +€44,707 | +35.9% |
| Profit (loss) for the period | 9904 | €355,390 | €453,525 | +€98,135 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €355,390 | €453,525 | +€98,135 | +27.6% |
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 14 October 2026 via checked.be.