POLAK CONSTRUCTION
ActiveSummary
The computed 12-month bankruptcy probability of POLAK CONSTRUCTION is 1.8% (moderate). The 2024 annual accounts show equity of €21,208 and a net result of €10,430. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 56% of 9973 sector peers (fiscal year 2024). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability98▲+98
Solvency73▲+1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.6 against 1.5 in 2023; short-term debt: 46.1% and cash: 32.1% of total assets), but 51.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
48.4%
Return on assets
23.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
25 d late
2022
32 d late
2021
92 d late
2020
153 d late
2019
101 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 72 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€21,208▼ 23.7%
2023 · €27,778
Total assets
€43,851▼ 26.5%
2023 · €59,691
Net result
€10,430
2023 · -€10,414
Working capital
€12,139▼ 18.1%
2023 · €14,821
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€8,425▼ 80.7%-€6,289€7,326-€9,827€15,440
Net result€5,610within the sector's middle half▼ 84.8%-€6,453below the sector's middle half€6,316within the sector's middle half-€10,414below the sector's middle half€10,430within the sector's middle half
Equity€38,329within the sector's middle half▲ 17.1%€31,876within the sector's middle half▼ 16.8%€38,192within the sector's middle half▲ 19.8%€27,778within the sector's middle half▼ 27.3%€21,208within the sector's middle half▼ 23.7%
Total assets€55,033below the sector's middle half▼ 21.1%€67,761within the sector's middle half▲ 23.1%€60,057within the sector's middle half▼ 11.4%€59,691within the sector's middle half▼ 0.6%€43,851below the sector's middle half▼ 26.5%
Debt€16,704▼ 54.9%€35,885▲ 115%€21,865▼ 39.1%€31,913▲ 46.0%€22,642▼ 29.1%
Working capital€23,132within the sector's middle half▲ 61.8%€1,505within the sector's middle half▼ 93.5%€23,976within the sector's middle half▲ 1,493%€14,821within the sector's middle half▼ 38.2%€12,139within the sector's middle half▼ 18.1%
Solvency69.6%above the sector's middle half▲ 22.7pp47.0%within the sector's middle half▼ 22.6pp63.6%above the sector's middle half▲ 16.6pp46.5%within the sector's middle half▼ 17.1pp48.4%within the sector's middle half▲ 1.8pp
Current ratio2.38within the sector's middle half▲ 0.941.04within the sector's middle half▼ 1.343.00above the sector's middle half▲ 1.961.50within the sector's middle half▼ 1.501.60within the sector's middle half▲ 0.10
Return on assets (ROA)10.2%within the sector's middle half▼ 42.9pp-9.5%below the sector's middle half▼ 19.7pp10.5%within the sector's middle half▲ 20.0pp-17.4%below the sector's middle half▼ 28.0pp23.8%above the sector's middle half▲ 41.2pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €15,440 after a loss of €9,827 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €43,851
Fixed assets
€11,497 ▼ 25.3%
Current assets
€32,354 ▼ 27.0%
Equity and liabilities €43,851
Equity
€21,208 ▼ 23.7%
Debt
€22,642 ▼ 29.1%
Debt's share of the balance-sheet total falls from 53.5% to 51.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€22,571▲
2023 · -€3,121
Cash flow
€17,561▲
2023 · -€3,708
Debt to equity
1.07▼
2023 · 1.15
ROE
49.2%▲
2023 · -37.5%
Interest coverage
29.34▲
2023 · -5.31
Debt ≤ 1 year
€20,215▼
2023 · €29,486
Debt > 1 year
€2,427=
2023 · €2,427
Income taxes
€4,241
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,696 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €97,991 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,770 | €12,355 | €9,222 | €6,706 | €7,131 | ▲ 6.3% |
| Other operating charges640/8 | - | €536 | €404 | €744 | €404 | ▼ 45.7% |
| Non-recurring operating charges66A | - | €265 | €2,368 | €106 | - | - |
| Gross operating margin9900 | €17,784 | €6,867 | €19,319 | -€2,270 | €22,976 | ▲ 1,112% |
| Operating profit (loss)9901 | €8,425 | -€6,289 | €7,326 | -€9,827 | €15,440 | ▲ 257% |
| Financial income75/76B | - | €1 | - | - | €0 | - |
| Recurring financial income75 | €20 | €1 | - | - | €0 | - |
| Financial charges65/66B | - | €164 | €225 | €587 | €769 | ▲ 31.0% |
| Recurring financial charges65 | €560 | €164 | €225 | €587 | €769 | ▲ 31.0% |
| Profit (loss) for the period before taxes9903 | €7,885 | -€6,453 | €7,100 | -€10,414 | €14,671 | ▲ 241% |
| Income taxes67/77 | €2,274 | - | €784 | - | €4,241 | - |
| Profit (loss) for the period9904 | €5,610 | -€6,453 | €6,316 | -€10,414 | €10,430 | ▲ 200% |
| Profit (loss) for the period to be appropriated9905 | €5,610 | -€6,453 | €6,316 | -€10,414 | €10,430 | ▲ 200% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55,033 | €67,761 | €60,057 | €59,691 | €43,851 | ▼ 26.5% |
| Fixed assets21/28 | €15,197 | €30,371 | €24,110 | €15,384 | €11,497 | ▼ 25.3% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €15,197 | €30,371 | €24,110 | €15,384 | €11,497 | ▼ 25.3% |
| Plant, machinery and equipment23 | - | €3,350 | €2,877 | €2,777 | €2,492 | ▼ 10.3% |
| Furniture and vehicles24 | - | €27,021 | €21,233 | €12,607 | €9,005 | ▼ 28.6% |
| Current assets29/58 | €39,837 | €37,390 | €35,947 | €44,307 | €32,354 | ▼ 27.0% |
| Amounts receivable after more than one year29 | - | - | - | €8,612 | - | - |
| Other amounts receivable291 | - | - | - | €8,612 | - | - |
| Stocks and contracts in progress3 | - | €7,701 | €21,927 | - | - | - |
| Stocks30/36 | - | €7,701 | €21,927 | - | - | - |
| Amounts receivable within one year40/41 | €13,153 | €19,772 | €2,610 | €25,115 | €18,209 | ▼ 27.5% |
| Trade receivables40 | - | €12,846 | €2,079 | €24,188 | €13,718 | ▼ 43.3% |
| Other amounts receivable41 | - | €6,926 | €531 | €926 | €4,492 | ▲ 385% |
| Cash at bank and in hand54/58 | €26,684 | €8,886 | €11,078 | €10,166 | €14,095 | ▲ 38.6% |
| Deferred charges and accrued income490/1 | - | €1,031 | €333 | €415 | €50 | ▼ 88.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55,033 | €67,761 | €60,057 | €59,691 | €43,851 | ▼ 26.5% |
| Equity10/15 | €38,329 | €31,876 | €38,192 | €27,778 | €21,208 | ▼ 23.7% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Outside capital11 | - | €6,200 | - | - | - | - |
| Other1109/19 | - | €6,200 | - | - | - | - |
| Reserves13 | €28,969 | €28,969 | €28,969 | €28,969 | €22,400 | ▼ 22.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €4,500 | €4,500 | €4,500 | €4,500 | = |
| Distributable reserves133 | - | €22,609 | €22,609 | €22,609 | €16,040 | ▼ 29.1% |
| Profit (loss) carried forward14 | €3,160 | -€3,293 | €3,023 | -€7,391 | -€7,391 | = |
| Amounts payable17/49 | €16,704 | €35,885 | €21,865 | €31,913 | €22,642 | ▼ 29.1% |
| Amounts payable after more than one year17 | - | - | €9,894 | €2,427 | €2,427 | = |
| Financial debts170/4 | - | - | €9,894 | €2,427 | €2,427 | = |
| Amounts payable within one year42/48 | €16,704 | €35,885 | €11,971 | €29,486 | €20,215 | ▼ 31.4% |
| Current portion of amounts payable after more than one year42 | - | - | €7,466 | €7,466 | - | - |
| Trade debts44 | - | €35,885 | €2,610 | €15,725 | €3,410 | ▼ 78.3% |
| Suppliers440/4 | - | €35,885 | €2,610 | €15,725 | €3,410 | ▼ 78.3% |
| Advances received on contracts in progress46 | - | - | - | €1,200 | €1,200 | = |
| Taxes, remuneration and social security45 | - | - | €1,894 | €5,095 | €8,067 | ▲ 58.3% |
| Taxes450/3 | - | - | €784 | €85 | €5,091 | ▲ 5,892% |
| Remuneration and social security454/9 | - | - | €1,110 | €5,010 | €2,976 | ▼ 40.6% |
| Other amounts payable47/48 | - | - | - | - | €7,538 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,610 | -€6,453 | €6,316 | -€10,414 | €10,430 | ▲ 200% |
| + Depreciation and write-downs630 | €8,770 | €12,355 | €9,222 | €6,706 | €7,131 | ▲ 6.3% |
| Operating cash flow (approximation) | €14,380 | €5,903 | €15,538 | -€3,708 | €17,561 | ▲ 574% |
| Investment in fixed assets (approximation) | - | -€27,530 | -€2,960 | €2,020 | -€3,244 | ▼ 261% |
| Change in cash | - | -€17,798 | €2,191 | -€911 | €3,928 | ▲ 531% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €10,430
Net result €10,430 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 25 days late
2023
31-12
Financial
Weakest financial yearnet -€10,414
Net result drops to -€10,414, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Back to profitnet €6,316
Net result €6,316 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 3.00
Current ratio from 1.04 to 3.00; short-term debt falls from €35,885 to €11,971.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Back to profitnet €36,999
Net result €36,999 after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
Show earlier events
19-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 231 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
2016
30-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Vorst · 1 establishment unit since 2012
Ground area
133 m²
Building footprint
97 m²
Volume, LiDAR
836 m³
Parcel 21383B0031/00L025, Brussels · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Steekspelstraat 17, 1190 Vorst
since 20122.216.738.228
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21383B0031/00L025 | Brussels | 133 m² | 1 · 97 m² | 13.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,786 companies in sector 41001 we hold annual accounts for 16,061. 11,693 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded25-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848973692
Also
9925:BE0848973692
Registered
10-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.