IPW PolConstruct
ActiveThe computed 12-month bankruptcy probability of IPW PolConstruct is 1.8% (moderate). The 2025 annual accounts show equity of €80k and a net result of €5k. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 86% of 7321 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
94
/ 100
Excellent▲ +13 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability31▲+7
Solvency100=
Growth52=
Stability94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 4.25 against 4.9 in 2024), and 21.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.5%
Return on assets
4.9%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
31 d late
2024
126 d late
2023
42 d late
2022
32 d late
2021
31 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€80k▲ 6.7%
2024 · €75k
2021: €32k
2022: €59k
2023: €72k
2024: €75k
2021 → 2025
Total assets
€102k▲ 10.7%
2024 · €92k
2021: €135k
2022: €336k
2023: €126k
2024: €92k
2021 → 2025
Net result
€5k▲ 39.3%
2024 · €4k
2021: €28k
2022: €27k
2023: €12k
2024: €4k
2021 → 2025
Working capital
€72k▲ 6.9%
2024 · €67k
2021: €30k
2022: €46k
2023: €58k
2024: €67k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€32k-€59k▲ 85.1%€72k▲ 20.4%€75k▲ 5.0%€80k▲ 6.7%
Operating result€42k-€42k▲ 0.9%€23k▼ 45.2%€11k▼ 50.8%€21k▲ 87.9%
Net result€28k-€27k▼ 2.8%€12k▼ 55.7%€4k▼ 70.2%€5k▲ 39.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 88% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102k
Fixed assets
€9k▲ 5.1%
Current assets
€94k▲ 11.3%
Equity and liabilities €102k
Equity
€80k▲ 6.7%
Debt
€22k▲ 28.5%
The debt ratio rises from 18.6% to 21.5%: debt grows faster than equity.
Key figures and ratios
EBITDA
€27k▲
2024 · €17k
Cash flow
€11k▲
2024 · €9k
Solvency
78.5%▼
2024 · 81.4%
Current ratio
4.25▼
2024 · 4.90
Quick ratio
4.25▼
2024 · 4.90
Debt / equity
0.27▲
2024 · 0.23
ROE
6.3%▲
2024 · 4.8%
ROA
4.9%▲
2024 · 3.9%
Interest coverage
3.27▲
2024 · 2.72
Debt
€22k▲
2024 · €17k
Debt ≤ 1 year
€22k▲
2024 · €17k
Income taxes
€8k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€92k€102k▲
Fixed assets21/28€8k€9k▲
Tangible fixed assets22/27€8k€9k▲
Plant, machinery and equipment23€7k€5k▼
Furniture and vehicles24€1k€4k▲
Current assets29/58€84k€94k▲
Amounts receivable within one year40/41€15k€11k▼
Trade receivables40€10k€5k▼
Other amounts receivable41€6k€7k▲
Cash at bank and in hand54/58€46k€37k▼
Deferred charges and accrued income490/1€23k€46k▲
Equity and liabilities
Total equity and liabilities10/49€92k€102k▲
Equity10/15€75k€80k▲
Contributions10/11€4k€4k=
Profit (loss) carried forward14€71k€76k▲
Amounts payable17/49€17k€22k▲
Amounts payable within one year42/48€17k€22k▲
Trade debts44€13k€10k▼
Suppliers440/4€13k€10k▼
Taxes, remuneration and social security45€4k€12k▲
Taxes450/3€4k€12k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€6k▲
Other operating charges640/8€2k€10k▲
Gross operating margin9900€19k€37k▲
Operating profit (loss)9901€11k€21k▲
Financial income75/76B€351€3▼
Recurring financial income75€351€3▼
Financial charges65/66B€6k€8k▲
Recurring financial charges65€6k€8k▲
Profit (loss) for the period before taxes9903€6k€13k▲
Income taxes67/77€2k€8k▲
Profit (loss) for the period9904€4k€5k▲
Profit (loss) for the period to be appropriated9905€4k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€71k€76k▲
Profit (loss) brought forward from the previous period14P€68k€71k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
04-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 126 days late
2024
31-12
Financial
Weakest financial yearnet €4k ▼70.2%
Net result drops to €4k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.90
Current ratio from 2.07 to 4.90; short-term debt falls from €54k to €17k.
11-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 42 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Merchtem · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Nieuwelaan 1391785 MerchtemGround area
1,125 m²
Building footprint
202 m²
Volume, LiDAR
1,422 m³
2 parcels, Flanders · tallest building 13.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
IPW PolConstruct
since 20212.313.036.957
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23012D0162/00G000 | Flanders | 985 m² | 1 · 134 m² | 7.8 m · 2 fl. |
| 22662B0313/00X005 | Flanders | 140 m² | 1 · 68 m² | 13.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
A INTERIOR HOLDING
BE 0567.871.553
Brugge · Eq €80k
NS SOLUTIONS
BE 0751.480.081
Liège · Eq €80k
Construct RC
BE 0721.936.059
Anderlecht · Eq €80k
TALVON & CO
BE 0787.458.470
Drogenbos · Eq €80k
EURONIZ CONSTRUCT
BE 0550.750.261
Sint-Gillis (bij-Brussel) · Eq €80k
Of 29,535 companies in sector 41001 we hold annual accounts for 15,872. 13,060 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-01-2021
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43350Other building finishing work
43410Roofing work
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.