{"url_path":"/sec/forty/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1045986/0001213900-26-055948-index.html","accession_number":"0001213900-26-055948","cik":"0001045986","ticker":"FORTY","issuer_name":"FORMULA SYSTEMS (1985) LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1045986/0001213900-26-055948-index.html","primary_entity_key":"0001045986","primary_entity_name":"FORMULA SYSTEMS (1985) LTD"},"word_count":789,"has_tables":true,"body_markdown":"** **\n\n**UNITED STATES\nSECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n \n\n**FORM 20-F**\n\n \n\n☐\nREGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nOR\n\n \n\n☒\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\n**For the fiscal year ended December 31, 2025**\n\n \n\nOR\n\n \n\n☐\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from __________ to __________\n\n \n\nOR\n\n \n\n☐\nSHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nDate of event requiring this shell company report\n__________\n\n \n\nCommission File Number: 000-29442\n\n \n\n \n\n**FORMULA SYSTEMS (1985) LTD.**\n\n(*Exact Name of Registrant as Specified in Its\nCharter\nand translation of Registrant’s name into English*)\n\n \n\n**Israel**\n\n(*Jurisdiction of Incorporation or Organization*)\n\n \n\n**Terminal Center, 1 Yahadut Canada Street, Or\nYehuda 6037501, Israel**\n\n(*Address of Principal Executive Offices*)\n\n \n\n**Asaf Berenstin; Tel: +972 3 5389305, Fax:\n+972 3 5389300, Terminal Center, 1 Yahadut Canada\nStreet, Or Yehuda 6037501, Israel**\n\n(*Name, Telephone, E-mail and/or Facsimile Number\nand Address of Company Contact Person*)\n\n \n\nSecurities registered or to be registered pursuant\nto Section 12(b) of the Act:\n\n \n\n**Title of Each Class**   **Trading Symbol(s)**   **Name of Each Exchange On Which Registered**\n\n**American Depositary Shares, each representing one Ordinary Share, NIS 1 par value**   **FORTY**   **Nasdaq Global Select Market**\n\n \n\nSecurities registered or to be registered pursuant\nto Section 12(g) of the Act: **None**\n\n \n\nSecurities for which there is a reporting obligation\npursuant to Section 15(d) of the Act: **None**\n\n \n\nIndicate the number of outstanding shares of each\nof the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:\n\n \n\n**As of December 31, 2025, the registrant had\n15,332,667 outstanding ordinary shares, NIS 1 par value, of which 120,289 were represented by American Depositary Shares.**\n\n \n\n \n\n \n\n \n\nIndicate by check mark if the registrant is a\nwell-known seasoned issuer, as defined in Rule 405 of the Securities Act.\n\n \n\nYes ☒\nNo ☐\n\n \n\nIf this report is an annual or transition report,\nindicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act\nof 1934.\n\n \n\nYes ☐\nNo ☒\n\n \n\nIndicate by check mark whether the registrant\n(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months\n(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements\nfor the past 90 days.\n\n \n\nYes ☒\nNo ☐\n\n \n\nIndicate by check mark whether the registrant\nhas submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405\nof this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).\n\n \n\nYes ☒\nNo ☐\n\n \n\nIndicate by check mark whether the registrant\nis a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large\naccelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer  ☒ Accelerated filer ☐\n\nNon-accelerated filer ☐ Emerging Growth Company ☐\n\n \n\nIf an emerging growth company that prepares its\nfinancial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition\nperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of\nits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public\naccounting firm that prepared or issued its audit report. ☒\n\n \n\nIf securities are registered pursuant to Section\n12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction\nof an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error\ncorrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIndicate by check mark which basis of accounting\nthe registrant has used to prepare the financial statements included in this filing:\n\n \n\nU.S. GAAP ☐ International Financial Reporting Standards as issued by the International Accounting Standards Board ☒ Other ☐\n\n \n\nIf “Other” has been checked in response\nto the previous question, indicate by check mark which financial statement item the registrant has elected to follow."}