FORMA
ActiveSummary
FORMA has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €345k and a net result of €283k. Equity is growing by ~29.9% per year across the filed fiscal years. Its solvency ranks better than 40% of 1638 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+78
Solvency57▲+24
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.15 in 2024; short-term debt: 55.5% and cash: 35% of total assets), and 68.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.7%
Return on assets
26.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 25-11-2025, 67 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
67 d early
2024
9 d early
2023
32 d early
2022
on the day
2021
55 d early
2020
58 d early
2019
96 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2025, abbreviated schema
Equity
€345k▲ 458%
2024 · €62k
2019: €198k
2020: €260k
2021: €378k
2022: €491k
2023: €691k
2024: €62k
2019 → 2025
Total assets
€1.09M▲ 38.0%
2024 · €787k
2019: €1.43M
2020: €1.45M
2021: €1.58M
2022: €1.72M
2023: €3.17M
2024: €787k
2019 → 2025
Net result
€283k
2024 · €-625k
2019: €1.02M
2020: €62k
2021: €118k
2022: €113k
2023: €200k
2024: €-625k
2019 → 2025
Working capital
€288k▲ 237%
2024 · €86k
2019: €601k
2020: €637k
2021: €810k
2022: €719k
2023: €811k
2024: €86k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€378k-€491k▲ 29.9%€691k▲ 40.7%€62k▼ 91.1%€345k▲ 458%
Operating result€225k-€189k▼ 15.7%€283k▲ 49.7%€211k▼ 25.5%€383k▲ 81.7%
Net result€118k-€113k▼ 4.1%€200k▲ 76.9%€-625k€283k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 82% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.09M
Fixed assets
€195k ▲ 33.5%
Current assets
€891k ▲ 39.0%
Equity and liabilities €1.09M
Equity
€345k ▲ 458%
Debt
€742k ▲ 2.2%
Debt's share of the balance-sheet total falls from 92.2% to 68.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€440k▲
2024 · €231k
Cash flow
€340k▲
2024 · €-605k
Current ratio
1.48▲
2024 · 1.15
Debt to equity
2.15▼
2024 · 11.75
ROE
82.2%
ROA
26.1%▲
2024 · -79.4%
Interest coverage
16.35▲
2024 · 2.59
Debt ≤ 1 year
€603k▲
2024 · €556k
Debt > 1 year
€110k▼
2024 · €127k
Income taxes
€73k▲
2024 · €61k
Staff costs
€822k▲
2024 · €590k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€787k€1.09M▲
Fixed assets21/28€146k€195k▲
Tangible fixed assets22/27€132k€181k▲
Land and buildings22€81k€78k▼
Furniture and vehicles24€51k€103k▲
Financial fixed assets28€14k€14k▼
Current assets29/58€641k€891k▲
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Amounts receivable within one year40/41€407k€494k▲
Trade receivables40€381k€463k▲
Other amounts receivable41€26k€31k▲
Cash at bank and in hand54/58€231k€380k▲
Deferred charges and accrued income490/1€3k€17k▲
Equity and liabilities
Total equity and liabilities10/49€787k€1.09M▲
Equity10/15€62k€345k▲
Contributions10/11€156k€156k=
Reserves13€0-
Distributable reserves133€0-
Profit (loss) carried forward14€-94k€188k▲
Amounts payable17/49€725k€742k▲
Amounts payable after more than one year17€127k€110k▼
Financial debts170/4€127k€110k▼
Amounts payable within one year42/48€556k€603k▲
Current portion of amounts payable after more than one year42€88k€70k▼
Financial debts43€140k€140k=
Credit institutions430/8€140k€140k=
Trade debts44€200k€183k▼
Suppliers440/4€200k€183k▼
Taxes, remuneration and social security45€123k€210k▲
Taxes450/3€20k€80k▲
Remuneration and social security454/9€103k€130k▲
Other amounts payable47/48€4k€0▼
Accrued charges and deferred income492/3€43k€29k▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€590k€822k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€57k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€1k
Other operating charges640/8€7k€9k▲
Gross operating margin9900€827k€1.27M▲
Operating profit (loss)9901€211k€383k▲
Financial income75/76B€89k€88▼
Recurring financial income75€89k€88▼
Non-recurring financial income76B€0-
Financial charges65/66B€864k€27k▼
Recurring financial charges65€89k€27k▼
Non-recurring financial charges66B€775k€0▼
Profit (loss) for the period before taxes9903€-564k€356k▲
Income taxes67/77€61k€73k▲
Profit (loss) for the period9904€-625k€283k▲
Profit (loss) for the period to be appropriated9905€-625k€283k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-625k€188k▲
Profit (loss) brought forward from the previous period14P-€-95k
Transfer from equity791/2€535k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€4k€0▼
Employees696€4k€0▼
Social balance
Average headcount (FTE)90877.58.2▲
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
15-09
State Gazette act
Resignation: Stijn Mahieu (director)Power of attorney4 facts ▸
State Gazette act
Resignation: Stijn Mahieu (director)
Power of attorney4 facts ▸
- General meeting, 12-11-2026
- Director resignation, Stijn Mahieu (director)
- Power of attorney, Lisa Kennis
- Power of attorney, Barbara Vervoort
2025
25-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Back to profitnet €283k
Net result €283k after one loss-making year.
30-06
Financial
Equity above €200kEq €345k ▲458%
Equity rises from €62k to €345k.
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Weakest financial yearnet €-625k ▼413%
Net result drops to €-625k, the lowest in the series; recovery starts the following year.
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Equity above €500kEq €691k ▲40.7%
5 profitable years in a row build equity to €691k.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
06-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Equity above €200kEq €260k ▲31.2%
2 profitable years in a row build equity to €260k.
Show earlier events
2019
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
18-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
15-09-2026
Resigned as Director
Location & real-estate footprint
Registered office, Ingelmunster · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kortrijkstraat 348770 IngelmunsterGround area
198 m²
Building footprint
142 m²
Volume, LiDAR
964 m³
Parcel 36007D0341/00A005, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FORMA
since 20092.179.673.637
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007D0341/00A005 | Flanders | 198 m² | 1 · 142 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 7,029 EUR awarded · 7,404 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,409 EUR | 3,409 EUR |
| 2024 | 1 | 1,320 EUR | 1,320 EUR |
| 2023 | 1 | 0 EUR | 375 EUR |
| 2022 | 1 | 2,300 EUR | 2,300 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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Of 13,421 companies in sector 73300 we hold annual accounts for 6,901. 4,664 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-03-2009
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
46190Agents in non-specialised wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.formabv.be
E-mail:info@formabv.be