<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-03-18</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001045986</issuerCik>
        <issuerName>FORMULA SYSTEMS (1985) LTD</issuerName>
        <issuerTradingSymbol>FORTY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002129263</rptOwnerCik>
            <rptOwnerName>Panek Marek Pawel</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>50 SANOCKA STR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RZESZOW</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>R9</rptOwnerCountry>
            <rptOwnerZipCode>35-504</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>This Form 3 has been filed after March 18, 2026 but prior to April 20, 2026
in reliance on the temporary relief made available to the directors and officers
of certain foreign private issuers by the Staff of the Securities and Exchange
Commission in its no-action letter dated March 13, 2026.</remarks>

    <ownerSignature>
        <signatureName>Marek Pawel Panek</signatureName>
        <signatureDate>2026-04-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
