ACTIVE

FORMAREC

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Financial year 2025 · closed on 31/12/2025

Net result

-44,7 k €

+0.7% YoY

Gross margin

625,6 k €

+5.4% YoY

Equity

34,2 k €

-56.6% YoY

What does FORMAREC do?

FORMAREC is a Cooperative society incorporated in 2007. Its main activity is: Sewerage. Its registered office is in Mons.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0887.935.129

Incorporation

14/03/2007

Legal form

Cooperative society

Registered office

Chemin de Bavay (H.) 157 box bis
7022 Mons · WallonieSee on map

Contributed capital

52 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

37100Sewerage· main 38210Treatment and disposal of non-hazardous waste 38322Recovery of sorted materials 88993Other social work activities without accommodation n.e.c.88995Other social work activities without accommodation n.e.c.

Joint committees (2)

142
14204

Contacts

1 public detail availableLog in to view

Signals

Good liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	625,6 k €	+5.4%	593,7 k €	+39.7%	424,9 k €	+11.9%	379,9 k €	-30.3%	545,3 k €	+12.2%	485,9 k €	-9.5%	537 k €	+70.6%	314,8 k €		–		–		–		–		–		–		–		–		–		162,7 k €	+68.9%	96,3 k €
EBITDA	-38,8 k €	+0.4%	-39 k €	+1.1%	-39,4 k €	+69.5%	-129,1 k €	-790%	18,7 k €	-63.5%	51,2 k €	-50.0%	102,4 k €	+2285%	4,3 k €	+131%	-13,9 k €	-139%	35,2 k €	-23.6%	46,1 k €	+43.7%	32,1 k €	+246%	-22 k €	+26.8%	-30,1 k €	-183%	36,1 k €	-24.3%	47,6 k €	+69.2%	28,1 k €	-22.0%	36,1 k €	+84.9%	19,5 k €
Operating result	-44,2 k €	+5.3%	-46,7 k €	-0.8%	-46,3 k €	+66.1%	-136,8 k €	-1093%	13,8 k €	-71.6%	48,5 k €	-52.3%	101,7 k €	+2637%	3,7 k €	+126%	-14,5 k €	-150%	29,2 k €	-27.7%	40,4 k €	+26.5%	32 k €	+244%	-22,2 k €	+26.3%	-30,1 k €	-184%	36 k €	-24.2%	47,5 k €	+69.2%	28,1 k €	-22.2%	36,1 k €	+84.9%	19,5 k €
Net result	-44,7 k €	+0.7%	-45 k €	-16.7%	-38,5 k €	+71.9%	-137 k €	-1612%	9,1 k €	-74.2%	35,1 k €	-48.9%	68,6 k €	+1876%	3,5 k €	+124%	-14,7 k €	-166%	22,5 k €	-40.7%	37,9 k €	+22.2%	31 k €	+230%	-23,8 k €	+24.6%	-31,5 k €	-224%	25,5 k €	-39.8%	42,3 k €	+93.3%	21,9 k €	-14.0%	25,4 k €	+84.1%	13,8 k €
Balance sheet
Equity	34,2 k €	-56.6%	78,9 k €	-36.3%	123,9 k €	-23.7%	162,4 k €	-45.8%	299,4 k €	+3.1%	290,4 k €	+13.7%	255,3 k €	+36.8%	186,6 k €	+1.9%	183,2 k €	-7.4%	197,9 k €	+12.8%	175,4 k €	+27.5%	137,6 k €	+29.1%	106,6 k €	-18.2%	130,3 k €	-19.5%	161,8 k €	+18.7%	136,4 k €	+44.9%	94,1 k €	+3.1%	91,2 k €	+38.6%	65,8 k €
Total assets	159,8 k €	-11.6%	180,8 k €	-18.0%	220,6 k €	-14.5%	257,9 k €	-31.8%	378 k €	-5.6%	400,3 k €	+11.6%	358,7 k €	+41.2%	254 k €	+9.2%	232,6 k €	-4.9%	244,7 k €	+8.0%	226,5 k €	+24.2%	182,4 k €	+27.5%	143,1 k €	-27.2%	196,7 k €	-18.7%	241,8 k €	+28.9%	187,6 k €	+14.0%	164,6 k €	-13.6%	190,5 k €	+43.2%	133 k €
Cash	13,9 k €	-76.7%	59,8 k €	-35.5%	92,7 k €	-32.9%	138,2 k €	-47.6%	263,6 k €	-17.6%	319,9 k €	+45.8%	219,4 k €	+35.1%	162,4 k €	+926%	15,8 k €	-89.5%	151,1 k €	+5.5%	143,2 k €	+16.1%	123,3 k €	+2461%	4,8 k €	-92.4%	63,4 k €	-13.6%	73,4 k €	+726%	8,9 k €	+3210%	268,4 €	-96.0%	6,7 k €	-89.6%	64,9 k €
Debts	125,2 k €	+23.0%	101,7 k €	+5.1%	96,8 k €	+4.0%	93,1 k €	+18.4%	78,6 k €	-25.8%	105,9 k €	+3.3%	102,6 k €	+52.3%	67,4 k €	+36.3%	49,4 k €	+6.2%	46,5 k €	-8.3%	50,7 k €	+13.2%	44,8 k €	+24.0%	36,1 k €	-45.4%	66,2 k €	-17.1%	79,9 k €	+56.1%	51,2 k €	-27.3%	70,4 k €	+24.3%	56,7 k €	-15.6%	67,1 k €
Other
Workforce	–		–		–		–		17,1 ETP	+11.0%	15,4 ETP	+18.5%	13,0 ETP	+30.0%	10,0 ETP	+5.3%	9,5 ETP	-12.0%	10,8 ETP	+6.9%	10,1 ETP	-9.8%	11,2 ETP	-10.4%	12,5 ETP	+19.0%	10,5 ETP	-0.9%	10,6 ETP	+19.1%	8,9 ETP	+30.9%	6,8 ETP	+58.1%	4,3 ETP	+38.7%	3,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 46 ended

Active mandates

Driss Lahem

Director · since 27 juin 2025

Active

Alexis Burlet

Director

Active

Anna-Maria Toscano

Director

Active

Bouchaïb SAMAWI

Managing director

Active

Ended mandates

Alexis Burlet

Chairman of the board of directors · since 06 mai 2015 · until 06 mai 2021

Ended

Anna-Maria Toscano

Director · since 06 mai 2015 · until 06 mai 2021

Ended

Bouchaïb SAMAWI

Managing director · since 06 mai 2015 · until 06 mai 2021

Ended

Dries WYFFELS

Director · since 06 mai 2015 · until 06 mai 2021

Ended

At this address

Other companies at this address

Company	CBE no.
Droit et Devoir● Active	0457.563.153

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged 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	31/08/2026	29/08/2025	30/08/2024	14/08/2023	29/08/2022	13/08/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	27/06/2023	15/06/2022	29/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	31/08/2026	French	PDF
Micro model	31/12/2024	27/06/2025	29/08/2025	French	PDF
Micro model	31/12/2023	28/06/2024	30/08/2024	French	PDF
Micro model	31/12/2022	27/06/2023	14/08/2023	French	PDF
Abridged model	31/12/2021	15/06/2022	29/08/2022	French	PDF
Abridged model	31/12/2020	29/06/2021	13/08/2021	French	PDF
Abridged model	31/12/2019	08/09/2020	30/09/2020	French	PDF
Abridged model	31/12/2018	07/06/2019	29/08/2019	French	PDF
Full model	31/12/2017	05/06/2018	20/06/2018	French	PDF
Full model	31/12/2016	24/05/2017	06/07/2017	French	PDF
Full model	31/12/2015	09/05/2016	09/06/2016	French	PDF
Full model	31/12/2014	06/05/2015	18/06/2015	French	PDF
Full model	31/12/2013	30/06/2014	10/07/2014	French	PDF
Full model	31/12/2012	21/05/2013	18/07/2013	French	PDF
Full model	31/12/2011	21/06/2012	25/09/2012	French	PDF
Full model	31/12/2010	21/06/2011	11/07/2011	French	PDF
Full model	31/12/2009	10/05/2010	09/07/2010	French	PDF
Abridged model	31/12/2008	14/04/2009	12/06/2009	French	PDF
Abridged model	31/12/2007	14/04/2008	22/09/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 4 active · 46 ended

Active mandates

Driss Lahem

Director · since 27 juin 2025

Active

Alexis Burlet

Director

Active

Anna-Maria Toscano

Director

Active

Bouchaïb SAMAWI

Managing director

Active

Ended mandates

Alexis Burlet

Chairman of the board of directors · since 06 mai 2015 · until 06 mai 2021

Ended

Anna-Maria Toscano

Director · since 06 mai 2015 · until 06 mai 2021

Ended

Bouchaïb SAMAWI

Managing director · since 06 mai 2015 · until 06 mai 2021

Ended

Dries WYFFELS

Director · since 06 mai 2015 · until 06 mai 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/09/2025
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Other11/04/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - ASSEMBLEE GENERALE
PDF
Mandates24/02/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates09/07/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates03/09/2013
DEMISSIONS, NOMINATIONS
PDF
Other03/07/2012
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates24/01/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2012
DEMISSIONS, NOMINATIONS
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 2025-44,7 k €↑
2024
Annual accounts 2024-45 k €↓
2023
Annual accounts 2023-38,5 k €↑
2022
Annual accounts 2022-137 k €↓
2021
Annual accounts 20219,1 k €↓
2020
Annual accounts 202035,1 k €↓
2019
Annual accounts 201968,6 k €↑
2018
Annual accounts 20183,5 k €↑
2017
Annual accounts 2017-14,7 k €↓
2016
Annual accounts 201622,5 k €↓
2015
Annual accounts 201537,9 k €↑
2014
Annual accounts 201431 k €↑
2013
Annual accounts 2013-23,8 k €↑
2012
Annual accounts 2012-31,5 k €↓
2011
Annual accounts 201125,5 k €↓
2010
Annual accounts 201042,3 k €↑
2009
Annual accounts 200921,9 k €↓
2008
Annual accounts 200825,4 k €↑
2007
Annual accounts 200713,8 k €
14/03/2007
IncorporationCooperative society

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

FORMAREC

Overview

What does FORMAREC do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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