ACTIVE

Formative Communications

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Financial year 2025 · closed on 31/12/2025

Net result

34,9 k €

+175.9% YoY

Gross margin

39,7 k €

+350.8% YoY

Equity

71,7 k €

-67.6% YoY

What does Formative Communications do?

Formative Communications is a Private limited company incorporated in 2008. Its main activity is: Management consultancy activities. Its registered office is in Kraainem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0807.193.814

Incorporation

17/10/2008

Legal form

Private limited company

Registered office

Rue des Ducs 5
1950 Kraainem · FlandreSee on map

Contributed capital

6 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Joint committees (1)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	39,7 k €	+351%	8,8 k €	-90.7%	94,8 k €	-64.0%	263,6 k €	+97.3%	133,6 k €	+359%	29,1 k €	-65.8%	85,2 k €	-29.2%	120,2 k €	+59.5%	75,4 k €	+217%	23,8 k €	+12.9%	21,1 k €	-68.3%	66,3 k €	+242%	19,4 k €	-65.6%	56,4 k €	+33.1%	42,4 k €	-3.2%	43,8 k €	+522%	7 k €
EBITDA	39,2 k €	+364%	8,5 k €	-83.3%	50,7 k €	-76.6%	217 k €	+172%	79,9 k €	+929%	-9,6 k €	-120%	47,1 k €	-45.7%	86,6 k €	+144%	35,4 k €	+57.9%	22,4 k €	+14.5%	19,6 k €	-67.6%	60,5 k €	+229%	18,4 k €	-63.3%	50,2 k €	+21.3%	41,4 k €	-3.1%	42,7 k €	+507%	7 k €
Operating result	37,7 k €	+427%	7,1 k €	-85.6%	49,7 k €	-77.1%	217 k €	+215%	69 k €	+415%	-21,9 k €	-180%	27,6 k €	-58.6%	66,5 k €	+304%	16,4 k €	+78.9%	9,2 k €	+53.6%	6 k €	-83.6%	36,5 k €	+543%	-8,2 k €	-135%	23,7 k €	+65.0%	14,4 k €	+127%	6,3 k €	+78.2%	3,6 k €
Net result	34,9 k €	+176%	12,6 k €	-66.9%	38,2 k €	-75.5%	156 k €	+226%	47,8 k €	+225%	-38,2 k €	-321%	17,3 k €	-58.5%	41,7 k €	+227%	12,7 k €	+347%	2,9 k €	+60.5%	1,8 k €	-92.4%	23,3 k €	+229%	-18 k €	-2641%	709,2 €	-80.6%	3,6 k €	-8.8%	4 k €	+301%	997,3 €
Balance sheet
Equity	71,7 k €	-67.6%	221,7 k €	+6.0%	209,1 k €	+22.3%	170,9 k €	+1043%	15 k €	+109%	7,2 k €	-84.2%	45,4 k €	+61.6%	28,1 k €	+6.3%	26,4 k €	+2.9%	25,7 k €	+12.5%	22,8 k €	+8.5%	21 k €	+1028%	-2,3 k €	-114%	15,8 k €	+4.7%	15 k €	+32.0%	11,4 k €	+54.1%	7,4 k €
Total assets	274,7 k €	+10.1%	249,6 k €	-1.3%	252,9 k €	+16.5%	217 k €	-59.8%	539,5 k €	+2.6%	525,8 k €	-14.7%	616,5 k €	+6.7%	577,6 k €	+11.7%	517,3 k €	-3.0%	533,2 k €	+4.9%	508,1 k €	-13.1%	584,5 k €	-2.0%	596,5 k €	+3.6%	575,5 k €	+8.1%	532,5 k €	+2.7%	518,6 k €	+1138%	41,9 k €
Cash	14,5 k €	-72.2%	52 k €	-49.0%	102 k €	+945%	9,8 k €	+87986%	11,1 €	+37.0%	8,1 €	-98.7%	604,9 €	-88.6%	5,3 k €	+7.3%	4,9 k €	+82.5%	2,7 k €		–		700 €		–		291,9 €	-94.0%	4,9 k €	+428%	921,3 €	-87.3%	7,2 k €
Debts	203 k €	+628%	27,9 k €	-36.3%	43,8 k €	-5.0%	46,1 k €	-91.2%	524,5 k €	+1.1%	518,6 k €	-9.2%	571,1 k €	+3.9%	549,5 k €	+11.9%	490,9 k €	-3.3%	507,5 k €	+4.6%	485,3 k €	-13.9%	563,5 k €	-5.9%	598,7 k €	+7.0%	559,8 k €	+8.2%	517,5 k €	+2.0%	507,2 k €	+1370%	34,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

ANDREW MANASSEH

Director

Active

Ended mandates

ANDREW MANASSEH

Manager

Ended

STEPHANIE ABITBOL

Manager

Ended

STEPHANIE MANASSEH

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/07/2026	07/07/2025	24/07/2024	04/07/2023	10/08/2022	30/09/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	30/06/2023	09/08/2022	28/09/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	09/06/2026	30/07/2026	Dutch	PDF
Micro model	31/12/2024	10/06/2025	07/07/2025	Dutch	PDF
Micro model	31/12/2023	11/06/2024	24/07/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	04/07/2023	Dutch	PDF
Micro model	31/12/2021	09/08/2022	10/08/2022	Dutch	PDF
Micro model	31/12/2020	28/09/2021	30/09/2021	French	PDF
Micro model	31/12/2019	04/11/2020	05/11/2020	French	PDF
Micro model	31/12/2018	26/09/2019	28/10/2019	French	PDF
Micro model	31/12/2017	27/09/2018	30/09/2018	French	PDF
Micro model	31/12/2016	26/09/2017	30/09/2017	French	PDF
Abridged model	31/12/2015	26/09/2016	24/10/2016	French	PDF
Abridged model	31/12/2014	06/10/2015	30/10/2015	French	PDF
Abridged model	31/12/2013	26/09/2014	23/10/2014	French	PDF
Abridged model	31/12/2012	30/09/2013	25/10/2013	French	PDF
Abridged model	31/12/2011	06/11/2012	07/11/2012	French	PDF
Abridged model	31/12/2010	27/10/2011	31/12/2011	French	PDF
Abridged model	31/12/2009	28/07/2010	28/07/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

ANDREW MANASSEH

Director

Active

Ended mandates

ANDREW MANASSEH

Manager

Ended

STEPHANIE ABITBOL

Manager

Ended

STEPHANIE MANASSEH

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/02/2022
BENAMING - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Registered office29/04/2011
SIEGE SOCIAL - OBJET
PDF
Other21/10/2008
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202534,9 k €↑
2024
Annual accounts 202412,6 k €↓
2023
Annual accounts 202338,2 k €↓
2022
Annual accounts 2022156 k €↑
2021
Annual accounts 202147,8 k €↑
2021
Name changeFormative Communications
2020
Annual accounts 2020-38,2 k €↓
2019
Annual accounts 201917,3 k €↓
2018
Annual accounts 201841,7 k €↑
2017
Annual accounts 201712,7 k €↑
2016
Annual accounts 20162,9 k €↑
2015
Annual accounts 20151,8 k €↓
2014
Annual accounts 201423,3 k €↑
2013
Annual accounts 2013-18 k €↓
2012
Annual accounts 2012709,2 €↓
2011
Annual accounts 20113,6 k €↓
2010
Annual accounts 20104 k €↑
2009
Annual accounts 2009997,3 €
2009
Name changeBOLSENA
17/10/2008
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Formative Communications

Overview

What does Formative Communications do?

Trend over 17 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline