POLLE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-04-2026 PDF all 33 filings
Turnover
≈ €740,000
Estimated: probably between €550,000 and €990,000
Total assets
€354,421▼ 9.9%
2024 · €393,151
Net result
€13,104
2024 · -€37,393
Working capital
€77,433▲ 36.7%
2024 · €56,654
In the rankings
#3 oldest company in Sint-Laureins, Construction sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€24,317
2025
20192025
Net result
€13,104
2025
middle half of the sector
20192025
Equity
€136,063
▲ 10.7%
2025
middle half of the sector
20192025
Total assets
€354,421
▼ 9.9%
2025
highest quarter of the sector
20192025
Debt
€218,358
▼ 19.2%
2025
20192025
Working capital
€77,433
▲ 36.7%
2025
middle half of the sector
20192025
Solvency
38.4%
▲ 7.1pp
2025
middle half of the sector
20192025
Current ratio
2.06
▲ 0.52
2025
middle half of the sector
20192025
Return on assets (ROA)
3.7%
▲ 13.2pp
2025
middle half of the sector
20192025
Staff (FTE)
4.1
▼ 4.7%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€6,858-€57,535-€63,283€62,283€4,044▼ 93.5%-€25,883€24,317
Net result-€11,207-€38,679above the sector's middle half-€71,737below the sector's middle half€56,368above the sector's middle half-€4,451below the sector's middle half-€37,393below the sector's middle half▼ 740%€13,104within the sector's middle half
Equity€141,492-€180,171above the sector's middle half▲ 27.3%€108,434within the sector's middle half▼ 39.8%€164,802above the sector's middle half▲ 52.0%€160,351above the sector's middle half▼ 2.7%€122,958within the sector's middle half▼ 23.3%€136,063within the sector's middle half▲ 10.7%
Total assets€420,592-€436,786above the sector's middle half▲ 3.9%€387,374above the sector's middle half▼ 11.3%€465,247above the sector's middle half▲ 20.1%€470,514above the sector's middle half▲ 1.1%€393,151above the sector's middle half▼ 16.4%€354,421above the sector's middle half▼ 9.9%
Debt€279,100-€256,615▼ 8.1%€278,940▲ 8.7%€300,445▲ 7.7%€310,163▲ 3.2%€270,193▼ 12.9%€218,358▼ 19.2%
Working capital€111,813-€146,364above the sector's middle half▲ 30.9%€57,000within the sector's middle half▼ 61.1%€91,650above the sector's middle half▲ 60.8%€84,644within the sector's middle half▼ 7.6%€56,654within the sector's middle half▼ 33.1%€77,433within the sector's middle half▲ 36.7%
Solvency33.6%-41.2%within the sector's middle half▲ 7.6pp28.0%within the sector's middle half▼ 13.3pp35.4%within the sector's middle half▲ 7.4pp34.1%within the sector's middle half▼ 1.3pp31.3%within the sector's middle half▼ 2.8pp38.4%within the sector's middle half▲ 7.1pp
Current ratio2.35-3.09above the sector's middle half▲ 0.741.65within the sector's middle half▼ 1.441.79within the sector's middle half▲ 0.141.69within the sector's middle half▼ 0.111.54within the sector's middle half▼ 0.152.06within the sector's middle half▲ 0.52
Return on assets (ROA)-2.7%-8.9%within the sector's middle half▲ 11.5pp-18.5%below the sector's middle half▼ 27.4pp12.1%within the sector's middle half▲ 30.6pp-0.9%below the sector's middle half▼ 13.1pp-9.5%below the sector's middle half▼ 8.6pp3.7%within the sector's middle half▲ 13.2pp
Staff (FTE)4.2-5above the sector's middle half▲ 19.0%3.3▼ 34.0%5▲ 51.5%5.7▲ 14.0%4.3▼ 24.6%4.1▼ 4.7%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a profit of €24,317, after a loss of €25,883 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €354,421
Fixed assets
€203,738 ▼ 12.0%
Current assets
€150,682 ▼ 6.8%
Equity and liabilities €354,421
Equity
€136,063 ▲ 10.7%
Debt
€218,358 ▼ 19.2%
Debt's share of the balance-sheet total falls from 68.7% to 61.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€52,021▲
2024 · €5,258
Cash flow
€40,808▲
2024 · -€6,252
Quick ratio
1.85▲
2024 · 1.39
Debt to equity
1.60▼
2024 · 2.20
ROE
9.6%▲
2024 · -30.4%
Interest coverage
4.88▲
2024 · 0.48
Debt ≤ 1 year
€73,250▼
2024 · €105,056
Debt > 1 year
€145,108▼
2024 · €165,137
Income taxes
€571▼
2024 · €636
Staff costs
€205,001▼
2024 · €267,134
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 5 | 4 | 5 |
| full-time | 5 | 4 | 4 | 5 |
| part-time | 1 | 1 | 0 | 0 |
| in full-time equivalents | 5.8 | 4.8 | 4 | 5 |
| Average over the year, in full-time equivalents | 5 | 5.7 | 4.3 | 4.1 |
| On a permanent contract | 6 | 5 | 4 | 5 |
| Joined | 4 | 0 | 0 | 1 |
| Left | 1 | 1 | 1 | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €210,000 | €210,000 | €210,000 | - |
| Carrying value of the mortgaged assets | €184,338 | €177,804 | €171,270 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €38,468 | €33,535 | - | - |
| Depreciation and write-downs of the year | €23,009 | €28,960 | €31,141 | €27,703 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €260,180 | €319,568 | €267,134 | €205,001 | ▼ 23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,009 | €10,777 | €17,494 | €23,009 | €28,960 | €31,141 | €27,703 | ▼ 11.0% |
| Other operating charges640/8 | - | - | - | €6,130 | €6,186 | €7,168 | €6,418 | ▼ 10.5% |
| Gross operating margin9900 | €222,730 | €320,924 | €123,394 | €351,601 | €358,757 | €279,560 | €263,440 | ▼ 5.8% |
| Operating profit (loss)9901 | -€6,858 | €57,535 | -€63,283 | €62,283 | €4,044 | -€25,883 | €24,317 | - |
| Financial income75/76B | - | - | - | €4,104 | €6 | €28 | €26 | ▼ 4.7% |
| Recurring financial income75 | €50 | €86 | €18 | €104 | €6 | €28 | €26 | ▼ 4.7% |
| Non-recurring financial income76B | - | - | - | €4,000 | - | - | - | - |
| Financial charges65/66B | - | - | - | €2,982 | €4,676 | €10,901 | €10,668 | ▼ 2.1% |
| Recurring financial charges65 | €3,718 | €2,922 | €2,819 | €2,982 | €4,676 | €10,901 | €10,668 | ▼ 2.1% |
| Profit (loss) for the period before taxes9903 | -€10,527 | €54,700 | -€66,084 | €63,405 | -€626 | -€36,756 | €13,675 | - |
| Income taxes67/77 | €680 | €16,021 | €5,653 | €7,037 | €3,825 | €636 | €571 | ▼ 10.2% |
| Profit (loss) for the period9904 | -€11,207 | €38,679 | -€71,737 | €56,368 | -€4,451 | -€37,393 | €13,104 | - |
| Profit (loss) for the period to be appropriated9905 | -€11,207 | €38,679 | -€24,262 | €56,368 | -€4,451 | -€37,393 | €13,104 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €420,592 | €436,786 | €387,374 | €465,247 | €470,514 | €393,151 | €354,421 | ▼ 9.9% |
| Fixed assets21/28 | €226,085 | €220,505 | €242,549 | €258,008 | €262,582 | €231,442 | €203,738 | ▼ 12.0% |
| Tangible fixed assets22/27 | €224,238 | €218,658 | €240,702 | €256,161 | €260,735 | €229,595 | €201,891 | ▼ 12.1% |
| Land and buildings22 | - | - | - | €205,514 | €195,345 | €185,177 | €175,277 | ▼ 5.3% |
| Plant, machinery and equipment23 | - | - | - | €1,624 | €451 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €49,023 | €64,939 | €44,417 | €26,614 | ▼ 40.1% |
| Financial fixed assets28 | €1,847 | €1,847 | €1,847 | €1,847 | €1,847 | €1,847 | €1,847 | = |
| Current assets29/58 | €194,507 | €216,281 | €144,826 | €207,240 | €207,932 | €161,710 | €150,682 | ▼ 6.8% |
| Stocks and contracts in progress3 | €10,705 | €10,579 | €26,631 | €21,765 | €38,366 | €16,143 | €14,984 | ▼ 7.2% |
| Stocks30/36 | - | - | - | €21,765 | €19,131 | €16,143 | €14,984 | ▼ 7.2% |
| Contracts in progress37 | - | - | - | - | €19,235 | €0 | - | - |
| Amounts receivable within one year40/41 | €61,264 | €69,514 | €62,734 | €121,609 | €158,701 | €141,282 | €98,373 | ▼ 30.4% |
| Trade receivables40 | - | - | - | €121,609 | €156,959 | €136,008 | €83,121 | ▼ 38.9% |
| Other amounts receivable41 | - | - | - | - | €1,742 | €5,275 | €15,252 | ▲ 189% |
| Cash at bank and in hand54/58 | €41,070 | €117,245 | €22,274 | €60,180 | €3,003 | €2,203 | €36,312 | ▲ 16× |
| Deferred charges and accrued income490/1 | - | - | - | €3,686 | €7,862 | €2,082 | €1,014 | ▼ 51.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €420,592 | €436,786 | €387,374 | €465,247 | €470,514 | €393,151 | €354,421 | ▼ 9.9% |
| Equity10/15 | €141,492 | €180,171 | €108,434 | €164,802 | €160,351 | €122,958 | €136,063 | ▲ 10.7% |
| Contributions10/11 | €20,000 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €132,699 | €160,171 | €88,434 | €144,802 | €140,351 | €102,958 | €102,958 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €142,802 | €140,351 | €102,958 | €102,958 | = |
| Profit (loss) carried forward14 | -€11,207 | - | - | - | - | - | €13,104 | - |
| Amounts payable17/49 | €279,100 | €256,615 | €278,940 | €300,445 | €310,163 | €270,193 | €218,358 | ▼ 19.2% |
| Amounts payable after more than one year17 | €196,406 | €186,698 | €191,114 | €184,856 | €186,875 | €165,137 | €145,108 | ▼ 12.1% |
| Financial debts170/4 | - | - | - | €184,856 | €186,875 | €165,137 | €145,108 | ▼ 12.1% |
| Amounts payable within one year42/48 | €82,695 | €69,916 | €87,826 | €115,589 | €123,288 | €105,056 | €73,250 | ▼ 30.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €19,708 | €25,110 | €23,479 | €23,225 | ▼ 1.1% |
| Financial debts43 | - | - | - | - | €7,235 | €41,013 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | €7,235 | €41,013 | €0 | ▼ 100% |
| Trade debts44 | €36,633 | €1,241 | €13,182 | €28,842 | €27,257 | €9,275 | €26,275 | ▲ 183% |
| Suppliers440/4 | - | - | - | €28,842 | €27,257 | €9,275 | €26,275 | ▲ 183% |
| Taxes, remuneration and social security45 | - | - | - | €16,342 | €15,766 | €8,651 | €9,786 | ▲ 13.1% |
| Taxes450/3 | - | - | - | €4,420 | €4,862 | €1,527 | €225 | ▼ 85.3% |
| Remuneration and social security454/9 | - | - | - | €11,922 | €10,904 | €7,124 | €9,561 | ▲ 34.2% |
| Other amounts payable47/48 | - | - | - | €50,697 | €47,920 | €22,638 | €13,964 | ▼ 38.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,207 | €38,679 | -€71,737 | €56,368 | -€4,451 | -€37,393 | €13,104 | - |
| + Depreciation and write-downs630 | €11,009 | €10,777 | €17,494 | €23,009 | €28,960 | €31,141 | €27,703 | ▼ 11.0% |
| Operating cash flow (approximation) | -€198 | €49,455 | -€54,242 | €79,377 | €24,509 | -€6,252 | €40,808 | - |
| Investment in fixed assets (approximation) | - | -€5,197 | -€39,538 | -€38,468 | -€33,535 | €0 | €0 | - |
| Change in cash | - | €76,175 | -€94,971 | €37,906 | -€57,177 | -€800 | €34,109 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as POLLE has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of POLLE itself: 0.3% 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.
| 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 17,041 companies, not a prediction for POLLE. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 08-04-2026 | 2026-00076215 | |
| 30-09-2024 | micro format | 15-04-2025 | 2025-00071431 | |
| 30-09-2023 | micro format | 03-04-2024 | 2024-00058703 | |
| 30-09-2022 | micro format | 29-03-2023 | 2023-00047836 | |
| 30-09-2021 | micro format | 29-03-2022 | 2022-08900387 | |
| 30-09-2020 | micro format | 29-04-2021 | 2021-11800435 | |
| 30-09-2019 | micro format | 23-04-2020 | 2020-09700598 | |
| 30-09-2018 | micro format | 02-04-2019 | 2019-09100112 | |
| 30-09-2017 | micro format | 04-04-2018 | 2018-09400346 | |
| 30-09-2016 | abbreviated format | 03-04-2017 | 2017-08700308 |