Checked.be
Active
BE 0479.237.111Private limited company (pre-2019)
POLE
Eninkveld 9 ·8210 Zedelgem, Belgium· 23 yrs active
Sector: Football clubs
(93121)
Conclusion
POLE has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-62k) and a net result of €70k. Equity is growing by ~36.4% per year across the filed fiscal years. Its solvency ranks better than 16% of 2199 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €-62k |
| Net result | €70k |
| Better than sector | 16% |
| Active | 23 yrs |
Financial profile
40
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
8
Profitability
0
Solvency
33
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2003, 23 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
8
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
30
2021
7
2022
16
2023
16
2024
8
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.26 (< 1.0)
-10
Quick ratio
Quick ratio 0.26 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
Negatieve ROE -114%
-10
Interest coverage
Interest coverage 43.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-10-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Gross margin: growth of ~32%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 93, Sports, amusement and recreation activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -31.6% | 27.8% | |
| Net result | €70k | €4k | |
| Equity | €-62k | €30k | |
| Gross operating margin | €94k | €35k | |
| Total assets | €195k | €149k |
€93k
-4.3%
21-25
€70k
-14.3%
21-25
€91k
-4.6%
21-25
€195k
-2.0%
21-25
€-62k
+53.3%
21-25
€-164k
+27.3%
21-25
€212
+2758.9%
21-25
€252k
-22.6%
21-25
€221k
-21.2%
21-25
€31k
-31.3%
21-25
0.26
+32.1%
21-25
0.26
+32.1%
21-25
-31.6%
+52.3%
21-25
-4.09
-65.6%
21-25
-114.0%
-83.4%
21-25
36.0%
-12.5%
21-25
43.20
-10.1%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €93k | €97k | €52k | €57k | €6k |
| Net profit | €70k | €82k | €37k | €-279k | €-68k |
| Cash flow | €91k | €95k | €51k | €-264k | €-50k |
| Staff costs | - | - | - | - | - |
| Income taxes | €212 | €7 | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €195k | €199k | €154k | €170k | €479k |
| Equity | €-62k | €-132k | €-214k | €-250k | €28k |
| Debt | €252k | €326k | €362k | €415k | €444k |
| of which ≤ 1y | €221k | €281k | €322k | €366k | €384k |
| of which > 1y | €31k | €45k | €41k | €48k | €60k |
| Working capital | €-164k | €-226k | €-287k | €-330k | €-46k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.26 | 0.19 | 0.11 | 0.10 | 0.88 |
| Quick ratio | 0.26 | 0.19 | 0.11 | 0.10 | 0.88 |
| Working capital ratio | -84.3% | -113.6% | -186.2% | -193.7% | -9.6% |
| Solvency | -31.6% | -66.2% | -138.6% | -147.0% | 5.9% |
| Debt / equity | -4.09 | -2.47 | -1.70 | -1.66 | 2.12 |
| Long-term debt ratio | -0.51 | -0.34 | -0.19 | -0.19 | 2.12 |
| Interest coverage | 43.20 | 48.02 | 26.02 | 0.18 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 36.0% | 41.2% | 23.8% | -163.7% | -14.1% |
| ROE | -114.0% | -62.1% | -17.1% | 111.3% | -238.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €195k | €199k | €154k | €170k | €479k |
| Fixed assets | 21/28 | €138k | €145k | €120k | €134k | €141k |
| Tangible fixed assets | 22/27 | €138k | €145k | €120k | €134k | €141k |
| Current assets | 29/58 | €57k | €54k | €34k | €36k | €338k |
| Amounts receivable within one year | 40/41 | €23k | €29k | €17k | €12k | €16k |
| Cash & bank | 54/58 | €32k | €23k | €16k | €24k | €1k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €195k | €199k | €154k | €170k | €479k |
| Equity | 10/15 | €-62k | €-132k | €-214k | €-250k | €28k |
| Contributions / capital | 10/11 | €20k | €20k | €20k | €20k | - |
| Reserves | 13 | €72k | €73k | €74k | €76k | €77k |
| Accumulated profits (losses) | 14 | €-153k | €-225k | €-308k | €-346k | €-68k |
| Provisions & deferred taxes | 16 | €5k | €5k | €6k | €6k | €7k |
| Amounts payable | 17/49 | €252k | €326k | €362k | €415k | €444k |
| Amounts payable after one year | 17 | €31k | €45k | €41k | €48k | €60k |
| Amounts payable within one year | 42/48 | €221k | €281k | €322k | €366k | €384k |
| Trade debts payable within one year | 44 | €4k | €3k | €4k | €4k | €4k |
| Income statement | ||||||
| Gross operating margin | 9900 | €94k | €99k | €63k | €60k | €11k |
| Operating result | 9901 | €72k | €83k | €38k | €42k | €-11k |
| Financial income | 75 | €324 | €183 | €179 | €115 | €106 |
| Financial charges | 65 | €2k | €2k | €2k | €322k | €2k |
| Result before taxes | 9903 | €70k | €81k | €36k | €-279k | €-13k |
| Income taxes | 67/77 | €212 | €7 | - | - | - |
| Net result for the period | 9904 | €70k | €82k | €37k | €-279k | €-13k |
| Result to be appropriated | 9905 | €71k | €83k | €38k | €-278k | €-12k |
Legal Structure
| NACE primary | Football clubs(93121) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 06-01-2003 |
| Status | Active |
| Postal code | 8210 |
Establishment units
POLE BVBA
since 20032.114.765.690
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31512B0238/00T000 | Flanders | 5,462 m² | 1 · 2,349 m² | 7.8 m · 2 fl. |
| 31017A0332/00T000 | Flanders | 2,733 m² | 1 · 348 m² | 8.2 m · 1 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Highest result since 2021net €82k ▲124%
Operating result €83k, net result €82k, both a record.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Back to profitnet €37k
Net result €37k after 2 loss-making years.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
31-03
Financial
Weakest financial yearnet €-279k
Net result drops to €-279k, the lowest in the series; recovery starts the following year.
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2020
04-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 34 days late
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
01-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1 day late
2016
29-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
92621Football clubs9312171406Renting and leasing of sports and recreation goods77210
Names & trade names
| Legal nameNL | POLE |
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