POLAN
InactiveInactive; last annual accounts for fiscal year 2025.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€1,733
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 17-03-2026, 45 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
45 d late
2024
41 d early
2023
290 d late
2022
43 d early
2021
31 d late
2020
on the day
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 50 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2025, micro schema
Equity
€101,865▼ 1.7%
2024 · €103,597
Total assets
€102,664▼ 2.2%
2024 · €104,987
Net result
-€1,733▲ 50.0%
2024 · -€3,466
Working capital
€50,740▼ 3.3%
2024 · €52,472
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,712▲ 2.5%-€1,724▼ 0.7%-€3,028▼ 75.6%-€3,138▼ 3.7%-€1,519▲ 51.6%
Net result-€2,069▼ 9.0%-€2,094▼ 1.2%-€3,409▼ 62.8%-€3,466▼ 1.7%-€1,733▲ 50.0%
Equity€112,566▼ 1.8%€110,472▼ 1.9%€107,063▼ 3.1%€103,597▼ 3.2%€101,865▼ 1.7%
Total assets€113,905▼ 0.7%€110,472▼ 3.0%€109,590▼ 0.8%€104,987▼ 4.2%€102,664▼ 2.2%
Debt€1,339▲ 1,746%€2,527€1,390▼ 45.0%€800▼ 42.5%
Working capital€61,441▼ 3.3%€55,938€52,472▼ 6.2%€50,740▼ 3.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,519 in 2025 against €3,138 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102,664
Fixed assets
€51,125 =
Current assets
€51,539 ▼ 4.3%
Equity and liabilities €102,664
Equity
€101,865 ▼ 1.7%
Debt
€800 ▼ 42.5%
Debt's share of the balance-sheet total falls from 1.3% to 0.8%. Equity and debt are lower.
Key figures and ratios
Current ratio
64.46▲
2024 · 38.74
Debt to equity
0.01▼
2024 · 0.01
ROE
-1.7%▲
2024 · -3.3%
ROA
-1.7%▲
2024 · -3.3%
Debt ≤ 1 year
€800▼
2024 · €1,390
Income taxes
€1
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €526 | €529 | €581 | €596 | €170 | ▼ 71.5% |
| Gross operating margin9900 | -€1,186 | -€1,196 | -€2,447 | -€2,542 | -€1,349 | ▲ 46.9% |
| Operating profit (loss)9901 | -€1,712 | -€1,724 | -€3,028 | -€3,138 | -€1,519 | ▲ 51.6% |
| Financial income75/76B | €0 | - | €0 | €0 | €3 | - |
| Recurring financial income75 | €0 | - | €0 | €0 | €3 | - |
| Financial charges65/66B | €357 | €370 | €382 | €327 | €216 | ▼ 34.1% |
| Recurring financial charges65 | €357 | €370 | €382 | €327 | €216 | ▼ 34.1% |
| Profit (loss) for the period before taxes9903 | -€2,069 | -€2,094 | -€3,409 | -€3,466 | -€1,732 | ▲ 50.0% |
| Income taxes67/77 | - | - | - | - | €1 | - |
| Profit (loss) for the period9904 | -€2,069 | -€2,094 | -€3,409 | -€3,466 | -€1,733 | ▲ 50.0% |
| Profit (loss) for the period to be appropriated9905 | -€2,069 | -€2,094 | -€3,409 | -€3,466 | -€1,733 | ▲ 50.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,905 | €110,472 | €109,590 | €104,987 | €102,664 | ▼ 2.2% |
| Fixed assets21/28 | €51,125 | €51,125 | €51,125 | €51,125 | €51,125 | = |
| Tangible fixed assets22/27 | €51,125 | €51,125 | €51,125 | €51,125 | €51,125 | = |
| Land and buildings22 | €51,125 | €51,125 | €51,125 | €51,125 | €51,125 | = |
| Current assets29/58 | €62,780 | €59,347 | €58,465 | €53,862 | €51,539 | ▼ 4.3% |
| Amounts receivable within one year40/41 | €52,981 | €52,981 | €56,039 | €0 | - | - |
| Trade receivables40 | - | - | €3,058 | €0 | - | - |
| Other amounts receivable41 | €52,981 | €52,981 | €52,981 | €0 | - | - |
| Cash at bank and in hand54/58 | €9,799 | €6,366 | €2,427 | €53,862 | €51,539 | ▼ 4.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,905 | €110,472 | €109,590 | €104,987 | €102,664 | ▼ 2.2% |
| Equity10/15 | €112,566 | €110,472 | €107,063 | €103,597 | €101,865 | ▼ 1.7% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €65,701 | €65,701 | €65,701 | €42,097 | €40,365 | ▼ 4.1% |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | €59,551 | €59,551 | €59,551 | €35,947 | €34,215 | ▼ 4.8% |
| Profit (loss) carried forward14 | -€14,635 | -€16,729 | -€20,138 | €0 | - | - |
| Amounts payable17/49 | €1,339 | - | €2,527 | €1,390 | €800 | ▼ 42.5% |
| Amounts payable within one year42/48 | €1,339 | - | €2,527 | €1,390 | €800 | ▼ 42.5% |
| Trade debts44 | €1,339 | - | €2,527 | €1,390 | €800 | ▼ 42.5% |
| Suppliers440/4 | €1,339 | - | €2,527 | €1,390 | €800 | ▼ 42.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,069 | -€2,094 | -€3,409 | -€3,466 | -€1,733 | ▲ 50.0% |
| Operating cash flow (approximation) | -€2,069 | -€2,094 | -€3,409 | -€3,466 | -€1,733 | ▲ 50.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,433 | -€3,940 | €51,436 | -€2,323 | ▼ 105% |
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
2026
17-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 45 days late
03-03
State Gazette act
Restructuring · End & cessationMerger · Capital increase · Share issue11 facts ▸
State Gazette act
Restructuring · End & cessation
Merger · Capital increase · Share issue11 facts ▸
- General meeting, 29-01-2026
- Merger, absorption, 70
- Capital increase, €101.864,54
- Share issue, fully paid-up shares without nominal value, 70
- Net-asset statement, 30-06-2025
- Real estate, Perceel landbouwgrond 'Heuldonck', sectie B, nummer 378 P0000, 85a 40ca; Perceel landbouwgrond 'Heuldonck', sectie B, nummer 379 P0000, 60a 50ca; Perceel landbo…
- Accounting effect, 30-06-2025
- Power of attorney, PKF BOFIDI Accountants & Advisers
- Power of attorney, TERCASA
- Lease, Vander Ha-Van Vlierberghe, sectie B, nummers 378 P0000, 379 P0000, 382 P0000
- Dividend entitlement, 30-06-2025
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 290 days late
2024
31-12
Financial
Weakest financial yearnet -€3,466
Net result drops to -€3,466, the lowest in the series.
2023
18-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity times 16current ratio 877.01
Current ratio from 56.12 to 877.01; short-term debt falls from €1,191 to €73.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 70 days late
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:TERCASA