The second formula has NO NUMBER (example taken from the ConTeXt Garden's Math/Display page):
\starttext \startsubformulas[eq:1] \placeformula[eq:first] \startformula c^2 = a^2 + b^2 \stopformula \placeformula[eq:second] \startformula c^2 = a^2 + b^2 \stopformula \stopsubformulas Formula (\in[eq:1]) states the Pythagora's Theorem twice, once in (\in[eq:first]) and again in (\in[eq:second]). \stoptext
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