Equity
Equity fell by 57% in 3 years.
Equity fell by 57% in 3 years.
Between 2017 and 2025, 58% of the full-time equivalents disappeared.
POLAR ELECTRO BELGIUM pays its suppliers 36 days earlier than in 2024.
The 2019 accounts came 59 days late. The other nine of the last ten were filed on time.
New director. Latest change 14-07-2026 · 3 in office.
Less equity than 80% of companies in wholesale trade. Sector median €1.6m · 6,119 companies.
The dashed line is the sector median: 0.4% across 26,895 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 78% of them on solvency, 73% on liquidity, 47% on profitability and 51% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is ample, with a current ratio of 1.58 (1.27 in 2024), above the usual 1.5. Short-term debt is 26.6% and cash 22.3% of total assets. 26.6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 40 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| POLAR ELECTRO BELGIUM Dendermonde | €0.7m | 4.4% | 73.4% | 6.1 |
| JOHNS MANVILLE BENELUX Ghent | €2.5m | 3.2% | 82.8% | 2.4 |
| COTRABEL Deinze | €0.7m | 22.7% | 38.6% | - |
| GARAGE WAELHEM Grimbergen | €2.1m | 0.2% | 45.7% | 11.3 |
| BRUMATEX Kapellen | €2.0m | 27.3% | 22.1% | 5 |
| GARAGE DE COCKER Aalst | €0.7m | 5.9% | 72.1% | 1 |
| FUTURE ELECTRONICS Aalst | - | - | 59.0% | 5.1 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as POLAR ELECTRO BELGIUM: agents specialised in the wholesale of other particular products (NACE 46180). They are comparable in size and age: total assets between €309,000 and €1m, founded between 1985 and 2004.
POLAR ELECTRO BELGIUM has existed since 2004. Turnover fell from €5.0m in 2006 to €694,381 in 2025 and staff from 12.5 to 6.1 full-time equivalents.
Turnover has fallen every year since 2015. Solvency rose in 2025 from 65.9% to 73.4% because of the retained profit and lower debts.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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