PLASTIC SOLUTIONS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 23 filings
Turnover
≈ €180,000
Estimated: probably between €110,000 and €320,000
Total assets
€419,606▼ 18.9%
2024 · €517,702
Net result
€12,699▲ 44.2%
2024 · €8,805
Working capital
€234,751▼ 18.5%
2024 · €287,939
In the rankings
#9 oldest company in Herenthout, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€12,734
▲ 90.5%
2025
20182025
Net result
€12,699
▲ 44.2%
2025
middle half of the sector
20182025
Equity
€353,558
▼ 15.5%
2025
highest quarter of the sector
20182025
Total assets
€419,606
▼ 18.9%
2025
middle half of the sector
20182025
Debt
€66,048
▼ 33.5%
2025
20182025
Working capital
€234,751
▼ 18.5%
2025
highest quarter of the sector
20182025
Solvency
84.3%
▲ 3.5pp
2025
highest quarter of the sector
20182025
Current ratio
16.55
▲ 8.16
2025
highest quarter of the sector
20182025
Return on assets (ROA)
3.0%
▲ 1.3pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€33,645-€60,192▲ 78.9%€3,403▼ 94.3%€29,502▲ 767%€195,241▲ 562%€179,555▼ 8.0%€6,684▼ 96.3%€12,734▲ 90.5%
Net result€17,058-€33,818▲ 98.3%-€15,310below the sector's middle half€13,808within the sector's middle half€130,076above the sector's middle half▲ 842%€121,995above the sector's middle half▼ 6.2%€8,805within the sector's middle half▼ 92.8%€12,699within the sector's middle half▲ 44.2%
Equity€208,077-€232,396▲ 11.7%€217,085above the sector's middle half▼ 6.6%€230,893above the sector's middle half▲ 6.4%€320,696above the sector's middle half▲ 38.9%€410,393above the sector's middle half▲ 28.0%€418,339above the sector's middle half▲ 1.9%€353,558above the sector's middle half▼ 15.5%
Total assets€795,686-€778,329▼ 2.2%€833,016above the sector's middle half▲ 7.0%€787,508above the sector's middle half▼ 5.5%€631,379above the sector's middle half▼ 19.8%€558,662above the sector's middle half▼ 11.5%€517,702above the sector's middle half▼ 7.3%€419,606within the sector's middle half▼ 18.9%
Debt€587,609-€545,934▼ 7.1%€615,931▲ 12.8%€556,614▼ 9.6%€310,682▼ 44.2%€148,269▼ 52.3%€99,363▼ 33.0%€66,048▼ 33.5%
Working capital-€97,495--€56,755▲ 41.8%-€69,719below the sector's middle half▼ 22.8%-€38,202below the sector's middle half▲ 45.2%€62,763within the sector's middle half€281,346above the sector's middle half▲ 348%€287,939above the sector's middle half▲ 2.3%€234,751above the sector's middle half▼ 18.5%
Solvency26.2%-29.9%▲ 3.7pp26.1%within the sector's middle half▼ 3.8pp29.3%within the sector's middle half▲ 3.3pp50.8%within the sector's middle half▲ 21.5pp73.5%above the sector's middle half▲ 22.7pp80.8%above the sector's middle half▲ 7.3pp84.3%above the sector's middle half▲ 3.5pp
Current ratio0.27-0.48▲ 0.210.39below the sector's middle half▼ 0.090.59below the sector's middle half▲ 0.201.72within the sector's middle half▲ 1.145.61above the sector's middle half▲ 3.888.39above the sector's middle half▲ 2.7916.55above the sector's middle half▲ 8.16
Return on assets (ROA)2.1%-4.3%▲ 2.2pp-1.8%below the sector's middle half▼ 6.2pp1.8%within the sector's middle half▲ 3.6pp20.6%above the sector's middle half▲ 18.8pp21.8%above the sector's middle half▲ 1.2pp1.7%within the sector's middle half▼ 20.1pp3.0%within the sector's middle half▲ 1.3pp
above
within
below
The sector band is the middle half of the companies in Manufacture of rubber and plastic products (NACE 22). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 91% higher than in 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €419,606
Fixed assets
€169,757 ▼ 11.0%
Current assets
€249,849 ▼ 23.6%
Equity and liabilities €419,606
Equity
€353,558 ▼ 15.5%
Debt
€66,048 ▼ 33.5%
Debt's share of the balance-sheet total falls from 19.2% to 15.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€38,635▲
2024 · €32,101
Cash flow
€38,600▲
2024 · €34,222
Debt to equity
0.19▼
2024 · 0.24
ROE
3.6%▲
2024 · 2.1%
Interest coverage
23.48▲
2024 · 11.54
Debt ≤ 1 year
€15,098▼
2024 · €38,947
Debt > 1 year
€49,866▼
2024 · €58,615
Income taxes
€5,633▲
2024 · €4,106
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €331,000 | €281,000 | €206,000 | €206,000 | €206,000 |
| Mortgage mandates | - | €377,250 | €180,000 | €180,000 | €180,000 |
| Carrying value of the mortgaged assets | €722,627 | €427,043 | €175,538 | €160,816 | €150,124 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,226 | €71,914 | €1,224 | - | €6,510 |
| Depreciation and write-downs of the year | €58,928 | €47,851 | €31,792 | €25,417 | €25,901 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,531 | €55,017 | €70,117 | €58,928 | €47,851 | €31,792 | €25,417 | €25,901 | ▲ 1.9% |
| Other operating charges640/8 | - | - | - | €8,396 | €21,089 | €10,574 | €4,427 | €6,177 | ▲ 39.5% |
| Gross operating margin9900 | €82,369 | €123,100 | €81,484 | €96,826 | €264,181 | €221,922 | €36,529 | €44,812 | ▲ 22.7% |
| Operating profit (loss)9901 | €33,645 | €60,192 | €3,403 | €29,502 | €195,241 | €179,555 | €6,684 | €12,734 | ▲ 90.5% |
| Financial income75/76B | - | - | - | - | - | €6,822 | €9,007 | €7,244 | ▼ 19.6% |
| Recurring financial income75 | €28 | €1 | €1 | - | - | €6,822 | €9,007 | €7,244 | ▼ 19.6% |
| Financial charges65/66B | - | - | - | €10,193 | €8,436 | €5,144 | €2,781 | €1,645 | ▼ 40.8% |
| Recurring financial charges65 | €11,626 | €11,588 | €10,610 | €10,193 | €8,436 | €5,144 | €2,781 | €1,645 | ▼ 40.8% |
| Profit (loss) for the period before taxes9903 | €22,048 | €48,604 | -€7,206 | €19,309 | €186,806 | €181,233 | €12,911 | €18,332 | ▲ 42.0% |
| Income taxes67/77 | €4,990 | €14,786 | €8,104 | €5,501 | €56,729 | €59,239 | €4,106 | €5,633 | ▲ 37.2% |
| Profit (loss) for the period9904 | €17,058 | €33,818 | -€15,310 | €13,808 | €130,076 | €121,995 | €8,805 | €12,699 | ▲ 44.2% |
| Profit (loss) for the period to be appropriated9905 | €17,058 | €33,818 | €30,463 | €13,808 | €130,076 | €121,995 | €8,805 | €12,699 | ▲ 44.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €795,686 | €778,329 | €833,016 | €787,508 | €631,379 | €558,662 | €517,702 | €419,606 | ▼ 18.9% |
| Fixed assets21/28 | €759,930 | €725,760 | €789,051 | €733,349 | €481,840 | €216,233 | €190,816 | €169,757 | ▼ 11.0% |
| Intangible fixed assets21 | €10,980 | €21,318 | €17,441 | €10,646 | €4,511 | - | - | - | - |
| Tangible fixed assets22/27 | €748,950 | €704,442 | €771,610 | €722,703 | €477,329 | €216,233 | €190,816 | €169,757 | ▼ 11.0% |
| Land and buildings22 | - | - | - | €722,627 | €427,043 | €175,538 | €160,652 | €150,124 | ▼ 6.6% |
| Furniture and vehicles24 | - | - | - | €76 | €50,286 | €40,695 | €30,164 | €19,633 | ▼ 34.9% |
| Current assets29/58 | €35,756 | €52,569 | €43,965 | €54,159 | €149,539 | €342,429 | €326,886 | €249,849 | ▼ 23.6% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €220,000 | €196,898 | €100,000 | ▼ 49.2% |
| Other amounts receivable291 | - | - | - | - | - | €220,000 | €196,898 | €100,000 | ▼ 49.2% |
| Amounts receivable within one year40/41 | €11,202 | €26,797 | €23,040 | €16,964 | €38,653 | €52,139 | €50,696 | €57,667 | ▲ 13.7% |
| Trade receivables40 | - | - | - | €13,238 | €7,620 | €12,554 | €13,598 | €5,266 | ▼ 61.3% |
| Other amounts receivable41 | - | - | - | €3,726 | €31,033 | €39,585 | €37,098 | €52,401 | ▲ 41.2% |
| Cash at bank and in hand54/58 | €17,733 | €19,389 | €14,643 | €34,822 | €104,458 | €69,075 | €74,480 | €87,244 | ▲ 17.1% |
| Deferred charges and accrued income490/1 | - | - | - | €2,372 | €6,428 | €1,215 | €4,813 | €4,938 | ▲ 2.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €795,686 | €778,329 | €833,016 | €787,508 | €631,379 | €558,662 | €517,702 | €419,606 | ▼ 18.9% |
| Equity10/15 | €208,077 | €232,396 | €217,085 | €230,893 | €320,696 | €410,393 | €418,339 | €353,558 | ▼ 15.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €146,179 | €170,498 | €155,187 | €168,996 | €258,798 | €391,793 | €399,739 | €334,958 | ▼ 16.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | - | - | €148,386 | €238,188 | €373,043 | €380,989 | €316,208 | ▼ 17.0% |
| Profit (loss) carried forward14 | €43,298 | €43,298 | €43,298 | €43,298 | €43,298 | - | - | - | - |
| Amounts payable17/49 | €587,609 | €545,934 | €615,931 | €556,614 | €310,682 | €148,269 | €99,363 | €66,048 | ▼ 33.5% |
| Amounts payable after more than one year17 | €449,325 | €426,835 | €493,323 | €459,734 | €219,954 | €84,407 | €58,615 | €49,866 | ▼ 14.9% |
| Financial debts170/4 | - | - | - | €379,734 | €219,954 | €84,407 | €58,615 | €49,866 | ▼ 14.9% |
| Other amounts payable178/9 | - | - | - | €80,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €133,251 | €109,324 | €113,684 | €92,361 | €86,775 | €61,083 | €38,947 | €15,098 | ▼ 61.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €69,036 | €42,651 | €25,135 | €25,793 | €8,749 | ▼ 66.1% |
| Trade debts44 | €19,048 | €6,165 | €2,479 | €1,680 | €16,316 | €2,190 | €3,334 | €2,664 | ▼ 20.1% |
| Suppliers440/4 | - | - | - | €1,680 | €16,316 | €2,190 | €3,334 | €2,664 | ▼ 20.1% |
| Taxes, remuneration and social security45 | - | - | - | €5,013 | €13,185 | €25,256 | €881 | €1,276 | ▲ 44.9% |
| Taxes450/3 | - | - | - | €5,013 | €13,185 | €25,256 | €881 | €1,276 | ▲ 44.9% |
| Other amounts payable47/48 | - | - | - | €16,632 | €14,624 | €8,503 | €8,940 | €2,409 | ▼ 73.0% |
| Accrued charges and deferred income492/3 | - | - | - | €4,520 | €3,953 | €2,779 | €1,801 | €1,084 | ▼ 39.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,058 | €33,818 | -€15,310 | €13,808 | €130,076 | €121,995 | €8,805 | €12,699 | ▲ 44.2% |
| + Depreciation and write-downs630 | €54,531 | €55,017 | €70,117 | €58,928 | €47,851 | €31,792 | €25,417 | €25,901 | ▲ 1.9% |
| Operating cash flow (approximation) | €71,589 | €88,835 | €54,806 | €72,736 | €177,927 | €153,787 | €34,222 | €38,600 | ▲ 12.8% |
| Investment in fixed assets (approximation) | - | -€20,847 | -€133,407 | -€3,226 | €203,658 | €233,815 | €0 | -€4,841 | - |
| Change in cash | - | €1,656 | -€4,746 | €20,179 | €69,636 | -€35,383 | €5,404 | €12,764 | ▲ 136% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as PLASTIC SOLUTIONS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PLASTIC SOLUTIONS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for PLASTIC SOLUTIONS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00367311 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00211335 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00184459 | |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00468569 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20231056 | |
| 31-12-2020 | micro format | 28-10-2021 | 2021-75100171 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-38200100 | |
| 31-12-2018 | micro format | 15-11-2019 | 2019-74000226 | |
| 31-12-2017 | micro format | 27-09-2018 | 2018-66600200 | |
| 31-12-2016 | micro format | 28-09-2017 | 2017-65200249 |