ACTIVE

FORMA

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Financial year 2025 · closed on 30/06/2025

Net result

283,2 k €

+145.3% YoY

Gross margin

1,3 M €

+53.9% YoY

Equity

344,7 k €

+458.3% YoY

Workforce

8,2 ETP

+9.3% YoY

What does FORMA do?

FORMA is a Private limited company incorporated in 2009. Its main activity is: Management consultancy activities. Its registered office is in Ingelmunster. It employs on average 8,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0810.927.126

Incorporation

31/03/2009

Legal form

Private limited company

Registered office

Kortrijkstraat 34 box 1
8770 Ingelmunster · FlandreSee on map

Contributed capital

156 200,00 €

Latest accounts

30/06/2025

Average workforce

8,2 ETP

Activities (NACE)

70200Management consultancy activities· main 70210Public relations and communication activities 70220Business and other management consultancy activities 73300Advertising and market research 46190Agents involved in the sale of a variety of goods 46190Agents involved in the sale of a variety of goods

Joint committees (3)

200
2000
218

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	1,3 M €	+53.9%	827,2 k €	+3.3%	801,1 k €	+21.1%	661,8 k €	-6.5%	707,9 k €	+48.9%	475,4 k €	+6.2%	447,6 k €	+21.7%	367,7 k €	+19.3%	308,1 k €	+11.1%	277,4 k €	-46.3%	516,9 k €	-0.6%	519,9 k €	+25.5%	414,2 k €	+16.6%	355,3 k €	+72.3%	206,1 k €
EBITDA	441,7 k €	+91.3%	230,9 k €	-21.3%	293,2 k €	+35.1%	217 k €	+12.8%	192,3 k €	+118%	88,3 k €	-38.8%	144,2 k €	+6.0%	136,1 k €	+162%	51,9 k €	-29.8%	73,9 k €	-75.9%	307,3 k €	+83.9%	167,1 k €	+20.6%	138,6 k €	-1.5%	140,7 k €	+53.5%	91,7 k €
Operating result	383,1 k €	+81.7%	210,9 k €	-25.5%	283,2 k €	+49.7%	189,2 k €	+30.9%	144,6 k €	+149%	58 k €	-53.2%	123,8 k €	-3.8%	128,7 k €	+222%	39,9 k €	-35.9%	62,3 k €	-77.6%	277,8 k €	+85.3%	149,9 k €	+24.5%	120,4 k €	-9.5%	133,1 k €	+47.2%	90,4 k €
Net result	283,2 k €	+145%	-625 k €	-413%	200 k €	+76.9%	113 k €	+83.1%	61,7 k €	-93.9%	1 M €	+3133%	31,4 k €	-34.3%	47,9 k €	+562%	-10,4 k €	-38.5%	-7,5 k €	-111%	66,7 k €	+139%	27,9 k €	+102%	-1,2 M €	-1472%	90,9 k €	+46.7%	62 k €
Balance sheet
Equity	344,7 k €	+458%	61,7 k €	-91.1%	690,7 k €	+40.7%	490,8 k €	+88.9%	259,8 k €	+31.2%	198,1 k €	+124%	-818,4 k €	+3.7%	-849,8 k €	+5.3%	-897,7 k €	-1.2%	-887,4 k €	-0.9%	-879,9 k €	+7.0%	-946,6 k €	+2.9%	-974,5 k €	-892%	123,1 k €	+112%	58,2 k €
Total assets	1,1 M €	+38.0%	787,2 k €	-75.2%	3,2 M €	+84.8%	1,7 M €	+18.5%	1,4 M €	+1.1%	1,4 M €	-37.8%	2,3 M €	-7.2%	2,5 M €	+20.5%	2,1 M €	+84.1%	1,1 M €	+140%	466,3 k €	-23.3%	608,1 k €	-13.0%	698,8 k €	+131%	303,1 k €	+71.7%	176,6 k €
Cash	380,5 k €	+64.6%	231,2 k €	-14.4%	270,2 k €	+0.9%	267,8 k €	+233%	80,5 k €	+4.5%	77 k €	-39.6%	127,6 k €	+11.8%	114,1 k €	+172%	42 k €	+412%	8,2 k €	-69.0%	26,4 k €	-73.5%	99,8 k €	+749%	11,7 k €	-84.5%	75,7 k €	+7568%	987,4 €
Debts	712,6 k €	+4.4%	682,9 k €	-71.5%	2,4 M €	+109%	1,1 M €	-1.6%	1,2 M €	-4.6%	1,2 M €	-60.8%	3,1 M €	-6.5%	3,3 M €	+13.3%	2,9 M €	+46.6%	2 M €	+48.8%	1,3 M €	-12.9%	1,5 M €	-7.1%	1,7 M €	+824%	180,1 k €	+52.1%	118,4 k €
Other
Workforce	8,2 ETP	+9.3%	7,5 ETP	+1.4%	7,4 ETP	+7.2%	6,9 ETP	+4.5%	6,6 ETP	+34.7%	4,9 ETP	+11.4%	4,4 ETP	+29.4%	3,4 ETP	-15.0%	4,0 ETP	+21.2%	3,3 ETP	-2.9%	3,4 ETP	-34.6%	5,2 ETP	+15.6%	4,5 ETP	+21.6%	3,7 ETP	+85.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 14 ended

Active mandates

Mahieu Stijn & C°

Director · 0834.282.251

Represented by Stijn Mahieu

Active

QHSE Holding

Director · 1001.842.724

Represented by Pascal Anckaert

Active

Ended mandates

QHSE Holding

Director · since 22 février 2024 · 1001.842.724

Represented by Anckaert PASCAL

Ended

Mahieu Stijn & C°

Director · since 18 février 2020 · 0834.282.251

Represented by Mahieu STIJN

Ended

DUSHI INVEST

Director · since 25 juin 2019 · 0549.938.629

Represented by Maïté Busschaert

Ended

Oswald Anné

Manager · since 01 janvier 2016

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	30/06/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	15 months	12 months	12 months	12 months	12 months	12 months
Filing date	25/11/2025	22/10/2024	29/09/2023	31/10/2022	06/09/2021	03/09/2020
General meeting	07/10/2025	30/09/2024	28/08/2023	30/09/2022	27/08/2021	31/07/2020
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	07/10/2025	25/11/2025	Dutch	PDF
Abridged model	31/03/2024	30/09/2024	22/10/2024	Dutch	PDF
Abridged model	31/03/2023	28/08/2023	29/09/2023	Dutch	PDF
Abridged model	31/03/2022	30/09/2022	31/10/2022	Dutch	PDF
Abridged model	31/03/2021	27/08/2021	06/09/2021	Dutch	PDF
Abridged model	31/03/2020	31/07/2020	03/09/2020	Dutch	PDF
Abridged model	31/03/2019	15/06/2019	27/07/2019	Dutch	PDF
Abridged model	31/03/2018	07/09/2018	25/10/2018	Dutch	PDF
Abridged model	31/03/2017	06/07/2017	18/10/2017	Dutch	PDF
Abridged model	31/03/2016	15/06/2016	31/10/2016	Dutch	PDF
Abridged model	31/03/2015	15/06/2015	26/12/2015	Dutch	PDF
Abridged model	31/03/2014	22/09/2014	01/10/2014	Dutch	PDF
Abridged model	31/03/2013	15/06/2013	30/10/2013	Dutch	PDF
Abridged model	31/03/2012	13/07/2012	21/05/2013	Dutch	PDF
Abridged model	31/03/2011	15/06/2011	28/11/2011	Dutch	PDF
Abridged model	31/03/2010	15/06/2010	30/11/2010	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 30/06/2025 · 2 active · 14 ended

Active mandates

Mahieu Stijn & C°

Director · 0834.282.251

Represented by Stijn Mahieu

Active

QHSE Holding

Director · 1001.842.724

Represented by Pascal Anckaert

Active

Ended mandates

QHSE Holding

Director · since 22 février 2024 · 1001.842.724

Represented by Anckaert PASCAL

Ended

Mahieu Stijn & C°

Director · since 18 février 2020 · 0834.282.251

Represented by Mahieu STIJN

Ended

DUSHI INVEST

Director · since 25 juin 2019 · 0549.938.629

Represented by Maïté Busschaert

Ended

Oswald Anné

Manager · since 01 janvier 2016

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/09/2026
ONTSLAG
PDF
Mandates20/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other02/01/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates02/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/03/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/07/2016
ONTSLAGEN - BENOEMINGEN
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 2025283,2 k €↑
2024
Annual accounts 2024-625 k €↓
2023
Annual accounts 2023200 k €↑
2022
Annual accounts 2022113 k €↑
2020
Annual accounts 202061,7 k €↓
2019
Annual accounts 20191 M €↑
2018
Annual accounts 201831,4 k €↓
2017
Annual accounts 201747,9 k €↑
2016
Annual accounts 2016-10,4 k €↓
2015
Annual accounts 2015-7,5 k €↓
2014
Annual accounts 201466,7 k €↑
2013
Annual accounts 201327,9 k €↑
2012
Annual accounts 2012-1,2 M €↓
2011
Annual accounts 201190,9 k €↑
2010
Annual accounts 201062 k €
31/03/2009
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

FORMA

Overview

What does FORMA do?

Trend over 15 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