Formica: 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.
Formica
Largest movements
- Tangible fixed assets +€81,842
up €81,842 (+132.1%), from €61,968 to €143,810
of which Assets under construction and advance payments: +€99,791
- Cash -€44,841
down €44,841 (-23.9%), from €187,608 to €142,767
mainly Investment in fixed assets (net) (-€99,791) and Other debts (-€41,966)
- Receivables within one year +€14,509
up €14,509 (+4251.8%), from €341 to €14,850
of which Trade receivables: +€14,667
- Reserves +€84,192
up €84,192 (+141.6%), from €59,461 to €143,653
- Other debts -€41,966
down €41,966 (-28.7%), from €146,193 to €104,227
- Tax, wage and social debts +€5,183
up €5,183 (+26.1%), from €19,853 to €25,036
- Trade debts +€4,294
up €4,294 (+198.4%), from €2,165 to €6,459
- Gross operating margin +€39,174
up €39,174 (+44.5%), from €88,040 to €127,214
- Taxes +€8,591
up €8,591 (+57.2%), from €15,031 to €23,621
- Depreciation +€6,050
up €6,050 (+50.8%), from €11,900 to €17,949
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 | €252,672 | €304,374 | +€51,702 | +20.5% |
| Fixed assets | 21/28 | €61,968 | €143,810 | +€81,842 | +132.1% |
| Tangible fixed assets | 22/27 | €61,968 | €143,810 | +€81,842 | +132.1% |
| Plant, machinery and equipment | 23 | €3,417 | €3,072 | -€345 | -10.1% |
| Furniture and vehicles | 24 | €58,551 | €40,947 | -€17,604 | -30.1% |
| Assets under construction and advance payments | 27 | - | €99,791 | +€99,791 | |
| Current assets | 29/58 | €190,704 | €160,564 | -€30,139 | -15.8% |
| Amounts receivable within one year | 40/41 | €341 | €14,850 | +€14,509 | +4251.8% |
| Trade receivables | 40 | - | €14,667 | +€14,667 | |
| Other amounts receivable | 41 | €341 | €184 | -€158 | -46.2% |
| Cash at bank and in hand | 54/58 | €187,608 | €142,767 | -€44,841 | -23.9% |
| Deferred charges and accrued income | 490/1 | €2,755 | €2,947 | +€192 | +7.0% |
| Total equity and liabilities | 10/49 | €252,672 | €304,374 | +€51,702 | +20.5% |
| Equity | 10/15 | €84,461 | €168,653 | +€84,192 | +99.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €59,461 | €143,653 | +€84,192 | +141.6% |
| Distributable reserves | 133 | €59,461 | €143,653 | +€84,192 | +141.6% |
| Amounts payable | 17/49 | €168,211 | €135,722 | -€32,489 | -19.3% |
| Amounts payable within one year | 42/48 | €168,211 | €135,722 | -€32,489 | -19.3% |
| Trade debts | 44 | €2,165 | €6,459 | +€4,294 | +198.4% |
| Suppliers | 440/4 | €2,165 | €6,459 | +€4,294 | +198.4% |
| Taxes, remuneration and social security | 45 | €19,853 | €25,036 | +€5,183 | +26.1% |
| Taxes | 450/3 | €19,853 | €25,036 | +€5,183 | +26.1% |
| Other amounts payable | 47/48 | €146,193 | €104,227 | -€41,966 | -28.7% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | -€0 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,900 | €17,949 | +€6,050 | +50.8% |
| Other operating charges | 640/8 | €1,328 | €918 | -€410 | -30.9% |
| Gross operating margin | 9900 | €88,040 | €127,214 | +€39,174 | +44.5% |
| Operating profit (loss) | 9901 | €74,812 | €108,347 | +€33,535 | +44.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -40.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -40.7% |
| Financial charges | 65/66B | €321 | €534 | +€213 | +66.5% |
| Recurring financial charges | 65 | €321 | €534 | +€213 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | €74,492 | €107,813 | +€33,321 | +44.7% |
| Income taxes | 67/77 | €15,031 | €23,621 | +€8,591 | +57.2% |
| Profit (loss) for the period | 9904 | €59,461 | €84,192 | +€24,731 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,461 | €84,192 | +€24,731 | +41.6% |
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.