Polca

Active

Public limited companyfounded 1969active for 56 yearsLodewijk de Raetlaan 40, 8870 Izegem, BelgiumKBO/BCE: BE 0406.908.169

Summary

Polca has been active since 1969 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.6m and a net result of €2.7m. Equity has been growing by about 14% per year since 2018. Its solvency ranks better than 49% of 6,172 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Risk analysisFollow Report Compare

PolcaActiveChecked score 96/100

Risk analysis Report Compare

Overview

Official details

Source: KBO

Status: Active since 01-12-1969 Normal situation
Activity: Wholesale trade NACE 46322and 3 others
Joint committee: 220 Paritair Comité voor de bedienden uit de voedingsnijverheid · annual accounts 2025
Establishment unit: 2.006.881.203 8870 Izegem, since 01-06-1981
Financial year end: 31 December
Peppol: Reachable

Company details

Board and ownership

Board

DETRY FOOD GROUPManaging director · permanent representative Jean-Yves Venard

Auditor: VRC BEDRIJFSREVISOREN

Shareholders

DETRY100%· score 882025 annual accounts of DETRY
PLC BV99.77%annual accounts 2019

Board & ownership

Financial position

96 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: < 0.1%

Annual accounts 2025

Turnover: €29.2m; ▲ 0.9%
Profit: €2.7m; ▼ 22.1%
Equity: €9.6m; ▲ 8.2%
Total assets: €21.6m; ▲ 11.4%
Employees on 31-12-2025: 81; ▼ 6.9%

Financials

Score breakdownlowers riskFounded in 1969Profit of €2.7m (financial year 2025)Size: turnover €29.2m, 83.4 FTE, total assets €21.6mLiquidity: current ratio 1.87, cash €2.5mShow the evidence

Checked score

Score 2025

96 / 100

Excellent

Probability in this band: under 0.55%

Financially stronger than 70% of medium-sized companies in wholesale trade (NACE 46)

Every signal that counts is listed under Signals.

Financial strength · tick: 2024

Strong

Solvency 70-1

equity 44.7% of total assets

Liquidity 52+2

short-term debt 29.6% · cash 11.7%

Profitability 84-8

return on assets 12.4%

Bankruptcy probability within 12 months

< 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (748 companies, NACE 46, medium-sized)

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025lowest value 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026highest value 08-2026: < 0.1%● unchanged vs 07-2026highest value 09-2026: < 0.1%● unchanged vs 08-2026highest value 10-2026: < 0.1%● unchanged vs 09-2026highest value 11-2026: < 0.1%● unchanged vs 10-2026highest value

Credit of up to €900,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 1.87 (1.89 in 2024), above the usual 1.5. Short-term debt is 29.6% and cash 11.7% of total assets. However, 55.3% of the assets are financed with debt and provisions.

Calculation

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, medium-sized). It does better than 56% of them on solvency, 78% on liquidity, 92% on profitability and 53% on growth.

The bankruptcy probability was computed on 03-11-2026 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.

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).

Credit check for an amount and term of your choice

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.

Signals

Five signals.

lowers riskneutral

Founded in 1969

Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.

KBO

Profit of €2.7m (financial year 2025)

NBB · annual accounts

Size: turnover €29.2m, 83.4 FTE, total assets €21.6m

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Liquidity: current ratio 1.87, cash €2.5m

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-05-2026, 63 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

63 days early

2024

64 days early

2023

63 days early

2022

41 days early

2021

37 days early

2020

121 days early

2019

50 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 63 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.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 May (5 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

04-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Financials

Financials · financial year 2025, full format

Annual accounts 2025 filed on 29-05-2026 PDF all 48 filings

Turnover

€29.2m▲ 0.9%

2024 · €28.9m

EBIT margin

12.8%▼ 3.1pp

2024 · 15.9%

Net result

€2.7m▼ 22.1%

2024 · €3.4m

Working capital

€5.6m▼ 4.1%

2024 · €5.8m

In the rankings #4 company by staff growth in Izegem, Wholesale and retail trade sector #5 employer in Izegem, Wholesale and retail trade sector #5 oldest company in Izegem, Wholesale and retail trade sector

Multi-year overview

2018 to 2025, 8 financial years

Turnover

€29.2m

▲ 0.9% 2025

20182025

Operating result

€3.7m

▼ 19.0% 2025

20182025

Net result

€2.7m

▼ 22.1% 2025

highest quarter of the sector

20182025

EBIT margin

12.8%

▼ 3.1pp 2025

20182025

Equity

€9.6m

▲ 8.2% 2025

highest quarter of the sector

20182025

Total assets

€21.6m

▲ 11.4% 2025

highest quarter of the sector

20182025

Debt

€11.9m

▲ 14.1% 2025

20182025

Working capital

€5.6m

▼ 4.1% 2025

highest quarter of the sector

20182025

Solvency

44.7%

▼ 1.3pp 2025

middle half of the sector

20182025

Current ratio

1.87

▼ 0.02 2025

middle half of the sector

20182025

Return on assets (ROA)

12.4%

▼ 5.3pp 2025

highest quarter of the sector

20182025

Staff (FTE)

83.4

▲ 5.7% 2025

highest quarter of the sector

20182025

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20182019202020212022202320242025

Turnover€17.9m-€19.9m▲ 11.0%€19.5m▼ 2.1%€21.1m▲ 8.2%€24.1m▲ 14.2%€28.5m▲ 18.5%€28.9m▲ 1.5%€29.2m▲ 0.9%

Operating result€1.1m-€1.0m▼ 4.5%€2.0m▲ 92.2%€1.7m▼ 12.9%€1.5m▼ 12.6%€3.3m▲ 122%€4.6m▲ 39.5%€3.7m▼ 19.0%

Net result€0.7m-€0.7m▼ 1.9%€1.4m▲ 93.2%€1.3m▼ 5.1%€1.1m▼ 15.5%€2.5m▲ 116%€3.4m▲ 39.3%€2.7m▼ 22.1%

EBIT margin5.9%-5.1%▼ 0.8pp10.0%▲ 4.9pp8.1%▼ 2.0pp6.2%▼ 1.9pp11.6%▲ 5.4pp15.9%▲ 4.3pp12.8%▼ 3.1pp

Equity€3.6m-€3.7m▲ 4.2%€5.2m▲ 38.1%€6.4m▲ 23.3%€6.9m▲ 9.1%€7.9m▲ 13.8%€8.9m▲ 12.7%€9.6m▲ 8.2%

Total assets€10.1m-€10.0m▼ 1.0%€9.8m▼ 1.9%€12.9m▲ 31.1%€14.1m▲ 9.2%€19.1m▲ 35.3%€19.4m▲ 1.6%€21.6m▲ 11.4%

Debt€6.4m-€6.2m▼ 3.0%€4.6m▼ 26.0%€6.5m▲ 41.6%€7.1m▲ 9.9%€11.2m▲ 56.3%€10.5m▼ 6.3%€11.9m▲ 14.1%

Working capital€3.0m-€2.6m▼ 13.4%€4.0m▲ 53.3%€3.9m▼ 3.6%€4.5m▲ 17.2%€5.0m▲ 11.7%€5.8m▲ 15.5%€5.6m▼ 4.1%

Solvency35.4%-37.2%▲ 1.9pp52.4%▲ 15.2pp49.3%▼ 3.1pp49.2%=41.4%▼ 7.8pp46.0%▲ 4.6pp44.7%▼ 1.3pp

Current ratio1.62-1.49▼ 0.132.15▲ 0.661.74▼ 0.421.74=1.75▲ 0.011.89▲ 0.151.87▼ 0.02

Return on assets (ROA)7.4%-7.3%▼ 0.1pp14.4%▲ 7.1pp10.5%▼ 4.0pp8.1%▼ 2.4pp12.9%▲ 4.8pp17.7%▲ 4.8pp12.4%▼ 5.3pp

Staff (FTE)39.3-39.6▲ 0.8%43.6▲ 10.1%59.5▲ 36.5%68.2▲ 14.6%71▲ 4.1%78.9▲ 11.1%83.4▲ 5.7%

above within below The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 19% lower than in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €21.6m

44.5%

55.5%

Fixed assets €9.6m ▲ 36.7%

Current assets €12.0m ▼ 3.0%

Equity and liabilities €21.6m

44.7%

55.3%

Equity €9.6m ▲ 8.2%

Debt €11.9m ▲ 14.1%

Debt's share of the balance-sheet total rises from 54.0% to 55.3%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€4.6m▼

2024 · €5.3m

Cash flow

€3.5m▼

2024 · €4.1m

Quick ratio

1.61▼

2024 · 1.65

Debt to equity

1.24▲

2024 · 1.18

ROE

27.7%▼

2024 · 38.5%

Interest coverage

23.79▼

2024 · 28.56

Debt ≤ 1 year

€6.4m▼

2024 · €6.5m

Debt > 1 year

€5.3m▲

2024 · €3.7m

Income taxes

€895,652▼

2024 · €1.2m

Customer credit

85 days▲

2024 · 69 days

Supplier credit

79 days▲

2024 · 71 days

Staff costs

€5.4m▲

2024 · €5.1m

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet

Item	31-12-2022	31-12-2023	31-12-2024	31-12-2025
Employees at the balance-sheet date	68	74	87	81
full-time	66	72	85	79
part-time	2	2	2	2
in full-time equivalents	67.3	73.4	86.4	80.4
Average over the year, in full-time equivalents	68.2	71	78.9	83.4
On a permanent contract	54	53	56	67
Joined	7	15	23	3
Left	12	9	10	9
Agency workers, average number	41.5	45	40	40.3
Training hours	421	230	251	264

Source: social balance sheet in the 2022 to 2025 annual accounts

Securities and guarantees

on own assets and for others

Item	2021	2022	2023	2024	2025
Debts secured on the company's own assets	€2.2m	-	-	-	€6.1m
Mortgages, amount registered	-	-	€27,500	€27,500	€27,500
Mortgage mandates	-	€750,000	€4.2m	€4.2m	€6.8m
Carrying value of the mortgaged assets	-	€1.8m	€5.4m	€5.1m	€7.6m
Pledge on the business	-	€1.4m	€1.4m	€1.4m	€1.4m
Mandates to pledge the business	-	€1.5m	€1.5m	€1.5m	€1.5m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired

Item	2021	2022	2023	2024	2025
Tangible fixed assets	€2.3m	€156,652	€4.5m	€488,699	€3.4m
Intangible fixed assets	-	-	€23,000	-	€3,669
Depreciation and write-downs of the year	€486,964	€514,512	€677,909	€686,958	€858,967

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is VRC BEDRIJFSREVISOREN.

Item	2021	2022	2023	2024	2025
Fee for the audit	€11,426	€13,141	€13,319	€13,500	€13,772

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Subsidies and aid

Flemish government

2023 to 2024 · 3 entries · €20,034 awarded · €20,034 paid

Year	Entries	Awarded	Paid
2024	2	€0	€20,034
2023	1	€20,034	€0

Schemes

GREEN-investeringssteun (Groener en Efficiënter Energieverbruik)

2 entries · €20,034 · €10,017 paid · Fonds voor Innoveren en Ondernemen

Ecologiepremie+

1 entry · €10,017 paid · Fonds voor Innoveren en Ondernemen

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 87 lines

Balance sheet Code20242025

Assets

Total assets20/58€19.4m€21.6m▲

Fixed assets21/28€7.0m€9.6m▲

Intangible fixed assets21€0.01m€0.01m▼

Tangible fixed assets22/27€7.0m€9.6m▲

Land and buildings22€5.1m€7.6m▲

Plant, machinery and equipment23€1.9m€1.9m▲

Furniture and vehicles24€0.04m€0.08m▲

Assets under construction and advance payments27-€0.02m

Financial fixed assets28€435€435=

Other financial fixed assets284/8€435€435=

Amounts receivable and cash guarantees285/8€435€435=

Current assets29/58€12.3m€12.0m▼

Stocks and contracts in progress3€1.6m€1.7m▲

Stocks30/36€1.6m€1.7m▲

Raw materials and consumables30/31€1.3m€1.4m▲

Work in progress32€0.07m€0.06m▼

Finished goods33€0.3m€0.3m▼

Amounts receivable within one year40/41€8.3m€7.6m▼

Trade receivables40€5.5m€6.8m▲

Other amounts receivable41€2.8m€0.8m▼

Cash at bank and in hand54/58€2.3m€2.5m▲

Deferred charges and accrued income490/1€0.1m€0.1m▲

Equity and liabilities

Total equity and liabilities10/49€19.4m€21.6m▲

Equity10/15€8.9m€9.6m▲

Contributions10/11€2.5m€2.5m=

Capital10€2.5m€2.5m=

Issued capital100€2.5m€2.5m=

Reserves13€6.4m€7.2m▲

Non-distributable reserves130/1€0.2m€0.2m=

Legal reserve130€0.2m€0.2m=

Tax-exempt reserves132€0.003m€0.003m=

Distributable reserves133€6.2m€6.9m▲

Profit (loss) carried forward14€0.004m€0.005m▲

Amounts payable17/49€10.5m€11.9m▲

Amounts payable after more than one year17€3.7m€5.3m▲

Financial debts170/4€3.7m€5.3m▲

Credit institutions173€3.7m€5.3m▲

Amounts payable within one year42/48€6.5m€6.4m▼

Current portion of amounts payable after more than one year42€0.6m€0.8m▲

Financial debts43€0.2m-

Credit institutions430/8€0.2m-

Trade debts44€2.1m€2.5m▲

Suppliers440/4€2.1m€2.5m▲

Taxes, remuneration and social security45€1.0m€1.0m▼

Taxes450/3€0.3m€0.3m▲

Remuneration and social security454/9€0.7m€0.7m▼

Other amounts payable47/48€2.6m€2.1m▼

Accrued charges and deferred income492/3€0.3m€0.2m▼

Income statement Code20242025

Operating income70/76A€29.1m€29.2m▲

Turnover70€28.9m€29.2m▲

Change in stocks of work in progress, finished goods and contracts in progress71€0.05m-€0.02m▼

Other operating income74€0.09m€0.09m▲

Non-recurring operating income76A€0.03m-

Operating charges60/66A€24.5m€25.5m▲

Goods for resale, raw materials and consumables60€10.9m€11.4m▲

Purchases600/8€10.9m€11.5m▲

Change in stocks: decrease (increase)609-€0.05m-€0.1m▼

Services and other goods61€7.6m€7.7m▲

Remuneration, social security and pensions62€5.1m€5.4m▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.7m€0.9m▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0.02m-€0.004m▲

Other operating charges640/8€0.2m€0.2m▼

Non-recurring operating charges66A€0.05m-

Operating profit (loss)9901€4.6m€3.7m▼

Financial income75/76B€0.2m€0.07m▼

Recurring financial income75€0.2m€0.07m▼

Income from current assets751€0.1m€0.01m▼

Other financial income752/9€0.09m€0.06m▼

Financial charges65/66B€0.2m€0.2m▲

Recurring financial charges65€0.2m€0.2m▲

Debt charges650€0.2m€0.2m▲

Other financial charges652/9€0.04m€0.03m▼

Profit (loss) for the period before taxes9903€4.6m€3.6m▼

Transfer from deferred taxes780€0.001m-

Income taxes67/77€1.2m€0.9m▼

Taxes670/3€1.2m€0.9m▼

Tax adjustments and reversals of tax provisions77-€0.004m

Profit (loss) for the period9904€3.4m€2.7m▼

Transfer from tax-exempt reserves789€0.002m-

Profit (loss) for the period to be appropriated9905€3.4m€2.7m▼

Appropriation of the result

Profit (loss) to be appropriated9906€3.4m€2.7m▼

Profit (loss) brought forward from the previous period14P€0.001m€0.004m▲

Transfer to equity691/2€1.0m€0.7m▼

To other reserves6921€1.0m€0.7m▼

Profit to be distributed694/7€2.4m€1.9m▼

Return on contributions (dividend)694€2.4m€1.9m▼

Social balance sheet

Average headcount (FTE)908778.983.4▲

The notes to these accounts have 69 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 29-05-2026.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Operating income70/76A	-	-	-	€21.3m	€24.3m	€28.5m	€29.1m	€29.2m	▲ 0.6%
Turnover70	€17.9m	€19.9m	€19.5m	€21.1m	€24.1m	€28.5m	€28.9m	€29.2m	▲ 0.9%
Change in stocks of work in progress, finished goods and contracts in progress71	-	-	-	€0.06m	€0.1m	-€0.09m	€0.05m	-€0.02m	-
Other operating income74	-	-	-	€0.08m	€0.09m	€0.1m	€0.09m	€0.09m	▲ 8.6%
Non-recurring operating income76A	-	-	-	€0.09m	€0.007m	€0.02m	€0.03m	-	-
Operating charges60/66A	-	-	-	€19.6m	€22.8m	€25.2m	€24.5m	€25.5m	▲ 4.2%
Goods for resale, raw materials and consumables60	-	-	-	€8.5m	€11.6m	€12.4m	€10.9m	€11.4m	▲ 4.9%
Purchases600/8	-	-	-	-	€12.1m	€12.1m	€10.9m	€11.5m	▲ 5.4%
Change in stocks: decrease (increase)609	-	-	-	-€0.2m	-€0.4m	€0.3m	-€0.05m	-€0.1m	▼ 111%
Services and other goods61	-	-	-	€6.4m	€6.3m	€7.5m	€7.6m	€7.7m	▲ 2.3%
Remuneration, social security and pensions62	-	-	-	€3.9m	€4.2m	€4.6m	€5.1m	€5.4m	▲ 4.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.8m	€0.8m	€0.6m	€0.5m	€0.5m	€0.7m	€0.7m	€0.9m	▲ 25.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	-	-	-	€0.2m	-€0.1m	-€0.05m	-€0.02m	-€0.004m	▲ 75.7%
Provisions for liabilities and charges: additions (uses and reversals)635/8	-	-	-	-€0.05m	-€0.03m	€0	-	-	-
Other operating charges640/8	-	-	-	€0.2m	€0.3m	€0.1m	€0.2m	€0.2m	▼ 7.8%
Non-recurring operating charges66A	-	-	-	-	-	-	€0.05m	-	-
Operating profit (loss)9901	€1.1m	€1.0m	€2.0m	€1.7m	€1.5m	€3.3m	€4.6m	€3.7m	▼ 19.0%
Financial income75/76B	-	-	-	-	€0.1m	€0.1m	€0.2m	€0.07m	▼ 67.9%
Recurring financial income75	€0.1m	€0.1m	€0.06m	€0.1m	€0.1m	€0.1m	€0.2m	€0.07m	▼ 67.9%
Income from current assets751	-	-	-	-	-	€0.05m	€0.1m	€0.01m	▼ 89.5%
Other financial income752/9	-	-	-	€0.1m	€0.1m	€0.08m	€0.09m	€0.06m	▼ 40.2%
Financial charges65/66B	-	-	-	€0.04m	€0.07m	€0.1m	€0.2m	€0.2m	▲ 1.3%
Recurring financial charges65	€0.06m	€0.07m	€0.1m	€0.04m	€0.07m	€0.1m	€0.2m	€0.2m	▲ 1.3%
Debt charges650	€0.03m	€0.03m	€0.03m	€0.02m	€0.02m	€0.1m	€0.2m	€0.2m	▲ 4.2%
Other financial charges652/9	-	-	-	€0.02m	€0.05m	€0.03m	€0.04m	€0.03m	▼ 12.3%
Profit (loss) for the period before taxes9903	€1.1m	€1.1m	€1.9m	€1.8m	€1.5m	€3.3m	€4.6m	€3.6m	▼ 22.2%
Transfer from deferred taxes780	-	-	-	€0.006m	€0.006m	€0.006m	€0.001m	-	-
Income taxes67/77	€0.4m	€0.4m	€0.5m	€0.4m	€0.4m	€0.8m	€1.2m	€0.9m	▼ 22.5%
Taxes670/3	-	-	-	€0.4m	€0.4m	€0.8m	€1.2m	€0.9m	▼ 22.1%
Tax adjustments and reversals of tax provisions77	-	-	-	€0.001m	€435	€0.001m	-	€0.004m	-
Profit (loss) for the period9904	€0.7m	€0.7m	€1.4m	€1.3m	€1.1m	€2.5m	€3.4m	€2.7m	▼ 22.1%
Transfer from tax-exempt reserves789	-	-	-	€0.06m	€0.02m	€0.02m	€0.002m	-	-
Profit (loss) for the period to be appropriated9905	€0.8m	€0.8m	€1.4m	€1.4m	€1.2m	€2.5m	€3.4m	€2.7m	▼ 22.2%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€10.1m	€10.0m	€9.8m	€12.9m	€14.1m	€19.1m	€19.4m	€21.6m	▲ 11.4%
Fixed assets21/28	€2.3m	€2.1m	€2.4m	€3.8m	€3.4m	€7.3m	€7.0m	€9.6m	▲ 36.7%
Intangible fixed assets21	€0.003m	€0.004m	€0.002m	€0.001m	-	€0.02m	€0.01m	€0.01m	▼ 30.7%
Tangible fixed assets22/27	€2.3m	€2.1m	€2.4m	€3.8m	€3.4m	€7.3m	€7.0m	€9.6m	▲ 36.8%
Land and buildings22	-	-	-	€1.9m	€1.8m	€5.4m	€5.1m	€7.6m	▲ 48.6%
Plant, machinery and equipment23	-	-	-	€1.8m	€1.6m	€1.8m	€1.9m	€1.9m	▲ 2.3%
Furniture and vehicles24	-	-	-	€0.08m	€0.07m	€0.05m	€0.04m	€0.08m	▲ 129%
Assets under construction and advance payments27	-	-	-	€0.009m	-	-	-	€0.02m	-
Financial fixed assets28	€360	€210	€210	€0.01m	€0.01m	€210	€435	€435	=
Other financial fixed assets284/8	-	-	-	€0.01m	€0.01m	€210	€435	€435	=
Amounts receivable and cash guarantees285/8	-	-	-	€0.01m	€0.01m	€210	€435	€435	=
Current assets29/58	€7.8m	€7.9m	€7.5m	€9.1m	€10.6m	€11.8m	€12.3m	€12.0m	▼ 3.0%
Stocks and contracts in progress3	€1.3m	€1.2m	€1.1m	€1.4m	€1.9m	€1.5m	€1.6m	€1.7m	▲ 5.4%
Stocks30/36	-	-	-	€1.4m	€1.9m	€1.5m	€1.6m	€1.7m	▲ 5.4%
Raw materials and consumables30/31	-	-	-	€1.1m	€1.5m	€1.2m	€1.3m	€1.4m	▲ 8.4%
Work in progress32	-	-	-	€0.07m	€0.1m	€0.08m	€0.07m	€0.06m	▼ 10.9%
Finished goods33	-	-	-	€0.2m	€0.3m	€0.2m	€0.3m	€0.3m	▼ 3.9%
Amounts receivable within one year40/41	€5.0m	€5.4m	€4.5m	€5.8m	€6.3m	€7.2m	€8.3m	€7.6m	▼ 7.6%
Trade receivables40	-	-	-	€5.3m	€5.9m	€5.9m	€5.5m	€6.8m	▲ 24.8%
Other amounts receivable41	-	-	-	€0.5m	€0.4m	€1.3m	€2.8m	€0.8m	▼ 70.6%
Cash at bank and in hand54/58	€1.5m	€1.3m	€1.8m	€1.8m	€2.3m	€3.0m	€2.3m	€2.5m	▲ 7.6%
Deferred charges and accrued income490/1	-	-	-	€0.09m	€0.07m	€0.09m	€0.1m	€0.1m	▲ 1.3%
Equity and liabilities
Total equity and liabilities10/49	€10.1m	€10.0m	€9.8m	€12.9m	€14.1m	€19.1m	€19.4m	€21.6m	▲ 11.4%
Equity10/15	€3.6m	€3.7m	€5.2m	€6.4m	€6.9m	€7.9m	€8.9m	€9.6m	▲ 8.2%
Contributions10/11	€1.1m	€1.1m	-	€2.5m	€2.5m	€2.5m	€2.5m	€2.5m	=
Capital10	-	-	-	€2.5m	€2.5m	€2.5m	€2.5m	€2.5m	=
Issued capital100	-	-	-	€2.5m	€2.5m	€2.5m	€2.5m	€2.5m	=
Reserves13	€2.5m	€2.6m	€4.0m	€3.9m	€4.5m	€5.4m	€6.4m	€7.2m	▲ 11.3%
Non-distributable reserves130/1	-	-	-	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	=
Legal reserve130	-	-	-	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	=
Tax-exempt reserves132	-	-	-	€0.04m	€0.02m	€0.005m	€0.003m	€0.003m	=
Distributable reserves133	-	-	-	€3.6m	€4.2m	€5.2m	€6.2m	€6.9m	▲ 11.8%
Profit (loss) carried forward14	€0.004m	€0.007m	€0.001m	€0.009m	€0.003m	€0.001m	€0.004m	€0.005m	▲ 26.2%
Provisions and deferred taxes16	€0.2m	€0.09m	€0.09m	€0.04m	€0.007m	€0.001m	-	-	-
Provisions for liabilities and charges160/5	-	-	-	€0.03m	-	-	-	-	-
Major repairs and maintenance162	-	-	-	€0.03m	-	-	-	-	-
Deferred taxes168	-	-	-	€0.01m	€0.007m	€0.001m	-	-	-
Amounts payable17/49	€6.4m	€6.2m	€4.6m	€6.5m	€7.1m	€11.2m	€10.5m	€11.9m	▲ 14.1%
Amounts payable after more than one year17	€1.5m	€0.9m	€1.1m	€1.1m	€0.8m	€4.2m	€3.7m	€5.3m	▲ 45.8%
Financial debts170/4	-	-	-	€1.1m	€0.8m	€4.2m	€3.7m	€5.3m	▲ 45.8%
Credit institutions173	-	-	-	€1.1m	€0.8m	€4.2m	€3.7m	€5.3m	▲ 45.8%
Amounts payable within one year42/48	€4.8m	€5.3m	€3.5m	€5.2m	€6.1m	€6.7m	€6.5m	€6.4m	▼ 1.9%
Current portion of amounts payable after more than one year42	-	-	-	€0.4m	€0.3m	€0.6m	€0.6m	€0.8m	▲ 43.3%
Financial debts43	-	-	-	€0.7m	€0.1m	€0.4m	€0.2m	-	-
Credit institutions430/8	-	-	-	€0.7m	€0.1m	€0.4m	€0.2m	-	-
Trade debts44	€2.6m	€2.9m	€1.6m	€2.2m	€4.2m	€3.0m	€2.1m	€2.5m	▲ 16.2%
Suppliers440/4	-	-	-	€2.2m	€4.2m	€3.0m	€2.1m	€2.5m	▲ 16.2%
Taxes, remuneration and social security45	-	-	-	€0.8m	€0.8m	€1.2m	€1.0m	€1.0m	▼ 0.1%
Taxes450/3	-	-	-	€0.2m	€0.3m	€0.6m	€0.3m	€0.3m	▲ 3.8%
Remuneration and social security454/9	-	-	-	€0.6m	€0.5m	€0.6m	€0.7m	€0.7m	▼ 1.5%
Other amounts payable47/48	-	-	-	€1.1m	€0.6m	€1.6m	€2.6m	€2.1m	▼ 18.9%
Accrued charges and deferred income492/3	-	-	-	€0.1m	€0.2m	€0.2m	€0.3m	€0.2m	▼ 24.1%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€0.7m	€0.7m	€1.4m	€1.3m	€1.1m	€2.5m	€3.4m	€2.7m	▼ 22.1%
+ Depreciation and write-downs630	€0.8m	€0.8m	€0.6m	€0.5m	€0.5m	€0.7m	€0.7m	€0.9m	▲ 25.0%
Operating cash flow (approximation)	€1.6m	€1.5m	€2.0m	€1.8m	€1.7m	€3.1m	€4.1m	€3.5m	▼ 14.3%
Investment in fixed assets (approximation)	-	-€0.6m	-€0.8m	-€1.9m	-€0.2m	-€4.5m	-€0.4m	-€3.4m	▼ 695%
Change in cash	-	-€0.2m	€0.5m	€0.07m	€0.5m	€0.7m	-€0.7m	€0.2m	-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Historical observation

In July 2024, 1,579 companies had the same profile as Polca has now. Two years later, 96.7% were still going and 0.1% had gone bankrupt.

Medium-sized
20 years or older
solvency 30% or more
a profit of 5% of the balance sheet or more

96.7% was still going

3.2% stopped otherwise

0.1% went bankrupt

That fits the bankruptcy probability of Polca 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 1,579 companies, not a prediction for Polca. 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 48 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	29-05-2026	2026-00128127	PDF
31-12-2024	full format	28-05-2025	2025-00108844	PDF
31-12-2023	full format	29-05-2024	2024-00099676	PDF
31-12-2022	full format	20-06-2023	2023-00138212	PDF
31-12-2021	full format	24-06-2022	2022-20098456	PDF
31-12-2020	full format	01-04-2021	2021-09500017	PDF
31-12-2019	full format	11-06-2020	2020-17700166	PDF
31-12-2018	full format	04-07-2019	2019-28900430	PDF
31-12-2017	full format	01-06-2018	2018-15900272	PDF
31-12-2016	full format	06-06-2017	2017-15700586	PDF

Show all 48 filings

Board & ownership

Directors

1 director, 1 in day-to-day management, last change in 2026

Board 1

DETRY FOOD GROUP

Director · since 28-12-2023 · Public limited company · permanent representative: Jean-Yves Venard · also on the board of 2 other companies · listed in the 2025 annual accounts, filed on 29-05-2026

Current

Day-to-day management 1

DETRY FOOD GROUP

Managing director · appointed in the act of 15-05-2026 · Public limited company · permanent representative: Jean-Yves Venard

Current

Permanent representatives 1

Jean-Yves Venard

Permanent representative · appointed in the act of 31-05-2024 · for DETRY FOOD GROUP

Current

Statutory auditor 1

VRC BEDRIJFSREVISOREN

Statutory auditor · since 28-05-2024 · term of 3 financial years from 2024 · listed in the 2025 annual accounts, filed on 29-05-2026

Current

Office holders in the KBO →

Signing authority

“(i) DETRY FOOD GROUP NV, vast vertegenwoordigd door Jean-Yves Venard; en (ii) F.Detry.Consult BV, vast vertegenwoordigd door Frédéric Detry…”

deed of 31-05-2024

Owners and capital

Shareholders

2 owners

Chain of control

DETRY FOOD GROUP 100%
DETRY 100%
Polca

DETRYparent
Sourceaccounts DETRY 2025
Equity €18.7m Profit of €752,569 in 2025 (profit of €4.2m in 2024) Checked score 88

100%
PLC BVparent
Sourceown accounts 2019

99.77%

Mandate history

8 people, 2 in office

All 8 In office 2 Ended 6

Board
Day-to-day management
Statutory auditor
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
DETRY FOOD GROUP	Director, from 28-12-2023 to date Managing director, appointed in the act of 15-05-2026, still in office
VRC BEDRIJFSREVISOREN	Statutory auditor, from 28-05-2024 to date
F.Detry.Consult BV	Director, appointed in the act of 31-05-2024, until 31-05-2024
SOGINVEST BV	Director, appointed in the act of 09-04-2024, until 31-05-2024
Anne DETRY	Director, until 09-04-2024
Henri DETRY	Director, until 09-04-2024
Laurence DETRY	Director, until 09-04-2024
Murielle DETRY	Director, until 09-04-2024

See the board, name and registered office on a given date →

Network & group

Part of the group DETRY FOOD GROUP 5 companies Group, risk and exposure

Connections & network

1 connected company

Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

BEL ARDENNE

Shared corporate director

→

Timeline

Acts, filings and financial milestones

All 16Financial 2Gazette 4Filings 10

Deadline for the 2026 accounts: 31-07-2027

2026

29-05

NBB filing Annual accounts 2025 filedPDF

full format · 63 days before the deadline

15-05

Gazette deed Appointment: DETRY FOOD GROUP (managing director)

Permanent representative: Jean-Yves Venard · Power of attorney5 points ▸

Board meeting, 04-12-2025
Director appointment, DETRY FOOD GROUP (managing director)
Permanent representative, Jean-Yves Venard
Power of attorney, Céline KUCKARTZ (financieel directeur)
Power of attorney, Patrick STOVE (algemeen directeur)

Open the act in the Belgian Official Gazette

2025

26-09

Gazette deed Reappointment: VRC BEDRIJFSREVISOREN (statutory auditor)

Permanent representative: Detry Frédéric4 points ▸

Auditor reappointment, VRC BEDRIJFSREVISOREN (statutory auditor)
Permanent representative, Detry Frédéric
Director in office, F.Detry.Consult. (managing director)
Board meeting, 22-04-2025

Open the act in the Belgian Official Gazette

28-05

NBB filing Annual accounts 2024 filedPDF

full format · 64 days before the deadline

2024

31-12

Financial Highest result from 2018 to 2025net €3.4m ▲39.3%

The operating result of €4.6m and the net result of €3.4m are both a record.

31-05

Gazette deed 2 directors appointed, 2 directors resigning

Resignations: SOGINVEST BV (director) and F.Detry.Consult BV (director) · Permanent representatives: André Kilesse, Frédéric Detry and Jean-Yves Venard · Appointments: F.Detry.Consult BV (director) and DETRY FOOD GROUP NV (director)10 points ▸

General meeting, 28-12-2023
Director resignation, SOGINVEST BV (director)
Permanent representative, André Kilesse
Director resignation, F.Detry.Consult BV (director)
Permanent representative, Frédéric Detry, mentioned 2 times in the deed
Director appointment, F.Detry.Consult BV (director)
Director appointment, DETRY FOOD GROUP NV (director)
Permanent representative, Jean-Yves Venard
Board composition, DETRY FOOD GROUP NV (director)
Board composition, F.Detry.Consult BV (director)

Open the act in the Belgian Official Gazette

29-05

NBB filing Annual accounts 2023 filedPDF

full format · 63 days before the deadline

09-04

Gazette deed 2 directors appointed, 4 directors resigning

Resignations: Henri DETRY, Murielle DETRY and 2 others · Appointments: SOGINVEST BV (director) and F.Detry.Consult BV (director) · Permanent representatives: André KILESSE and Frédéric DETRY13 points ▸

General meeting, 17-01-2023
Director resignation, Henri DETRY (director)
Director resignation, Murielle DETRY (director)
Director resignation, Anne DETRY (director)
Director resignation, Laurence DETRY (director)
Director discharge, Henri DETRY
Director discharge, Murielle DETRY
Director discharge, Anne DETRY
Director discharge, Laurence DETRY
Director appointment, SOGINVEST BV (director)
Director appointment, F.Detry.Consult BV (director)
Permanent representative, André KILESSE
The act holds 1 more point.

Open the act in the Belgian Official Gazette

2023

20-06

NBB filing Annual accounts 2022 filedPDF

full format · 41 days before the deadline

2022

24-06

NBB filing Annual accounts 2021 filedPDF

full format · 37 days before the deadline

2021

01-04

NBB filing Annual accounts 2020 filedPDF

full format · 121 days before the deadline

2020

31-12

Financial Equity above €5mequity €5.2m ▲38.1%

With a profit in every financial year since 2018, equity grows to €5.2m.

Show earlier events

11-06

NBB filing Annual accounts 2019 filedPDF

full format · 50 days before the deadline

2019

04-07

NBB filing Annual accounts 2018 filedPDF

full format · 27 days before the deadline

2018

01-06

NBB filing Annual accounts 2017 filedPDF

full format · 60 days before the deadline

2017

06-06

NBB filing Annual accounts 2016 filedPDF

full format · 55 days before the deadline

Show all 48 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

History

Polca was incorporated on 1 December 1969.¹ Turnover grew from €17.9m in 2018 to €29.2m in 2025 and headcount from 39.3 to 83.4 full-time equivalents.²

Company details

Register details

Identity

KBO record

Name Polca in Dutch

Enterprise number 0406.908.169

LEI code 549300US43KHTHSLA384 live in the LEI register

Legal form Public limited company

Status Active, normale toestand

Founded 01-12-1969

Entity type Legal entity

Registered office and establishments

Registered office Lodewijk de Raetlaan 40, 8870 Izegem, Belgium

Establishment unit Lodewijk de Raetlaan 40, 8870 Izegem since 01-06-1981 · unit number 2.006.881.203

Activities

NACEBEL 2025

VAT activities

46322 Wholesale trade main activity

10130 Manufacture of food products

46321 Wholesale of meat and meat products, excluding game and poultry

47221 Retail sale of meat and meat products, excluding game and poultry

Social security (RSZ) activities

10130 Manufacture of food products main activity

Codes under NACEBEL 2008

VAT activities

46322 Wholesale trade main activity

10130 Manufacture of food products

46321 Wholesale of meat and meat products, excluding game and poultry

47221 Retail trade

Social security (RSZ) activities

10130 Manufacture of food products main activity

Codes under NACEBEL 2003

VAT activities

15131 main activity

52220

Social security (RSZ) activities

15131 main activity

Joint committee 220 Paritair Comité voor de bedienden uit de voedingsnijverheid annual accounts 2025

Invoicing and payment

VAT number BE 0406.908.169

E-invoicing via Peppol

Reachable via Peppol

Peppol ID 0208:0406908169

Follow this company and you will hear the next morning if it leaves the Peppol register.

Financial year and general meeting

Accounts at the NBB

Financial year end 31-12

Recognitions · licences · registrations

Food safety, FASFC

1 site

Izegemunit number 2.006.881.203

1 permission

Approval · Fabrikant vleesproducten · since 01-01-2006

Environmental permits

2 applications in Flanders since 2018 · 2 granted

Bouwen of herbouwen

Granted on 28-03-2024submitted 08-11-2023authority: Provincie West-Vlaanderenproject 2023052297

Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies

Granted on 30-08-2018submitted 04-06-2018authority: Provincie West-Vlaanderenproject 2018059151

Source: Omgevingsloket Vlaanderen.

Sites & property

Location

registered office establishment The establishment unit on the map

Buildings and parcels at the address

Ground area

5,748 m²

Building footprint

324 m²

Building volume

1,856 m³

Cadastral parcel	Region	Area	Buildings	Height / floors
36009A0479/00Z000	Flanders	5,748 m²	1 · 324 m²	7.3 m · 2

Overview

Overview

Official details

Board and ownership

Financial position

Checked score

Signals

Financials

Financials · financial year 2025, full format

Staff

Securities and guarantees

Investments

Auditor

Subsidies and aid

Flemish government

Historical observation

Board & ownership

Directors

Board 1

Day-to-day management 1

Statutory auditor 1

Owners and capital

Shareholders

Owners 2

Mandate history

Network & group

Connections & network

Timeline

Acts, filings and financial milestones

History

Company details

Register details

Identity

Registered office and establishments

Activities

Invoicing and payment

Financial year and general meeting

Recognitions · licences · registrations

Food safety, FASFC

Environmental permits

Sites & property

Buildings and parcels at the address