POLY-CREATION
ActiveFinancials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 3 November 2026.
Annual accounts 2023 filed on 28-10-2024 PDF all 9 filings
Turnover
≈ €430,000
Estimated: probably between €290,000 and €670,000
Total assets
€426,176▲ 1.2%
2022 · €421,016
Net result
-€29,424▼ 17.1%
2022 · -€25,126
Working capital
-€101,415▼ 130%
2022 · -€44,125
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€11,994
▼ 0.3%
2023
20182023
Net result
-€29,424
▼ 17.1%
2023
lowest quarter of the sector
20182023
Equity
-€52,201
▼ 129%
2023
lowest quarter of the sector
20182023
Total assets
€426,176
▲ 1.2%
2023
middle half of the sector
20182023
Debt
€478,377
▲ 7.8%
2023
20182023
Working capital
-€101,415
▼ 130%
2023
lowest quarter of the sector
20182023
Solvency
-12.2%
▼ 6.8pp
2023
lowest quarter of the sector
20182023
Current ratio
0.65
▼ 0.13
2023
lowest quarter of the sector
20182023
Return on assets (ROA)
-6.9%
▼ 0.9pp
2023
lowest quarter of the sector
20182023
Staff (FTE)
4.1
▲ 24.2%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€6,378--€2,805-€11,691▼ 317%€35,564-€11,958-€11,994▼ 0.3%
Net result€4,243--€6,986-€18,907below the sector's middle half▼ 171%€26,409within the sector's middle half-€25,126below the sector's middle half-€29,424below the sector's middle half▼ 17.1%
Equity€1,832--€5,154-€24,060below the sector's middle half▼ 367%€2,349below the sector's middle half-€22,777below the sector's middle half-€52,201below the sector's middle half▼ 129%
Total assets€67,311-€84,264▲ 25.2%€93,341within the sector's middle half▲ 10.8%€133,849within the sector's middle half▲ 43.4%€421,016within the sector's middle half▲ 215%€426,176within the sector's middle half▲ 1.2%
Debt€65,479-€89,417▲ 36.6%€117,401▲ 31.3%€131,500▲ 12.0%€443,793▲ 237%€478,377▲ 7.8%
Working capital-€10,992--€29,076▼ 165%-€47,225below the sector's middle half▼ 62.4%-€21,944within the sector's middle half▲ 53.5%-€44,125below the sector's middle half▼ 101%-€101,415below the sector's middle half▼ 130%
Solvency2.7%--6.1%▼ 8.8pp-25.8%below the sector's middle half▼ 19.7pp1.8%below the sector's middle half▲ 27.5pp-5.4%below the sector's middle half▼ 7.2pp-12.2%below the sector's middle half▼ 6.8pp
Current ratio0.77-0.57▼ 0.200.44below the sector's middle half▼ 0.130.79below the sector's middle half▲ 0.350.78below the sector's middle half=0.65below the sector's middle half▼ 0.13
Return on assets (ROA)6.3%--8.3%▼ 14.6pp-20.3%below the sector's middle half▼ 12.0pp19.7%above the sector's middle half▲ 40.0pp-6.0%below the sector's middle half▼ 25.7pp-6.9%below the sector's middle half▼ 0.9pp
Staff (FTE)0.93.3▲ 267%4.1▲ 24.2%
above
within
below
The sector band is the middle half of the companies in Manufacture of rubber and plastic products (NACE 22). 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 2023 is a loss of €11,994, larger than the loss of €11,958 in 2022. It is the lowest result since 2019.
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
2023 in colour, 2022 as the grey bar beneath
Assets €426,176
Fixed assets
€237,696 ▼ 8.9%
Current assets
€188,481 ▲ 17.7%
Equity and liabilities
Equity-€52,201
Debt€478,377
Equity is negative. Debt (€478,377) exceeds the balance-sheet total (€426,176).
Key figures and ratios
EBITDA
€23,656▲
2022 · €14,111
Cash flow
€6,226▲
2022 · €943
Quick ratio
0.36▼
2022 · 0.48
Interest coverage
1.37▲
2022 · 1.08
Debt ≤ 1 year
€289,896▲
2022 · €204,254
Debt > 1 year
€188,481▼
2022 · €239,539
Income taxes
€196▲
2022 · €158
Staff costs
€140,064▲
2022 · €108,519
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 5 | 3 |
| full-time | 1 | 3 | 3 |
| part-time | - | 2 | - |
| in full-time equivalents | 1 | 4.5 | 3 |
| Average over the year, in full-time equivalents | 0.9 | 3.3 | 4.1 |
| On a permanent contract | 1 | 5 | 3 |
| Joined | 3 | 4 | 1 |
| Left | 2 | 0 | 3 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €7,804 | €234,921 | €12,458 |
| Depreciation and write-downs of the year | €11,693 | €26,068 | €35,649 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €26,382 | €108,519 | €140,064 | ▲ 29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,654 | €11,070 | €11,478 | €11,693 | €26,068 | €35,649 | ▲ 36.8% |
| Other operating charges640/8 | - | - | - | €2,809 | €6,171 | €8,265 | ▲ 33.9% |
| Gross operating margin9900 | €16,855 | €17,286 | €1,494 | €76,447 | €128,801 | €171,985 | ▲ 33.5% |
| Operating profit (loss)9901 | €6,378 | -€2,805 | -€11,691 | €35,564 | -€11,958 | -€11,994 | ▼ 0.3% |
| Financial income75/76B | - | - | - | €25 | - | - | - |
| Recurring financial income75 | €1 | €0 | €423 | €25 | - | - | - |
| Financial charges65/66B | - | - | - | €9,024 | €13,010 | €17,235 | ▲ 32.5% |
| Recurring financial charges65 | €1,982 | €4,031 | €7,506 | €9,024 | €13,010 | €17,235 | ▲ 32.5% |
| Profit (loss) for the period before taxes9903 | €4,397 | -€6,836 | -€18,774 | €26,564 | -€24,968 | -€29,228 | ▼ 17.1% |
| Income taxes67/77 | €154 | €150 | €133 | €155 | €158 | €196 | ▲ 23.8% |
| Profit (loss) for the period9904 | €4,243 | -€6,986 | -€18,907 | €26,409 | -€25,126 | -€29,424 | ▼ 17.1% |
| Profit (loss) for the period to be appropriated9905 | €4,243 | -€6,986 | -€18,907 | €26,409 | -€25,126 | -€29,424 | ▼ 17.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €67,311 | €84,264 | €93,341 | €133,849 | €421,016 | €426,176 | ▲ 1.2% |
| Formation expenses20 | €121 | - | - | - | - | - | - |
| Fixed assets21/28 | €30,193 | €45,765 | €55,923 | €52,034 | €260,887 | €237,696 | ▼ 8.9% |
| Tangible fixed assets22/27 | €30,193 | €45,765 | €55,923 | €52,034 | €260,887 | €237,696 | ▼ 8.9% |
| Plant, machinery and equipment23 | - | - | - | €28,138 | €24,526 | €30,670 | ▲ 25.1% |
| Furniture and vehicles24 | - | - | - | €2,915 | €1,680 | €446 | ▼ 73.5% |
| Leasing and similar rights25 | - | - | - | €14,624 | €217,605 | €191,820 | ▼ 11.8% |
| Other tangible fixed assets26 | - | - | - | €6,357 | €17,075 | €14,760 | ▼ 13.6% |
| Current assets29/58 | €36,997 | €38,499 | €37,418 | €81,815 | €160,129 | €188,481 | ▲ 17.7% |
| Stocks and contracts in progress3 | €7,700 | €18,023 | €19,649 | €15,000 | €61,450 | €85,545 | ▲ 39.2% |
| Stocks30/36 | - | - | - | €15,000 | €61,450 | €85,545 | ▲ 39.2% |
| Amounts receivable within one year40/41 | €16,578 | €13,807 | €11,690 | €48,454 | €90,864 | €47,528 | ▼ 47.7% |
| Trade receivables40 | - | - | - | €45,629 | €86,210 | €22,346 | ▼ 74.1% |
| Other amounts receivable41 | - | - | - | €2,826 | €4,655 | €25,183 | ▲ 441% |
| Cash at bank and in hand54/58 | €6,019 | €2,654 | €2,739 | €13,996 | €2,475 | €47,221 | ▲ 19× |
| Deferred charges and accrued income490/1 | - | - | - | €4,365 | €5,340 | €8,186 | ▲ 53.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €67,311 | €84,264 | €93,341 | €133,849 | €421,016 | €426,176 | ▲ 1.2% |
| Equity10/15 | €1,832 | -€5,154 | -€24,060 | €2,349 | -€22,777 | -€52,201 | ▼ 129% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€16,768 | -€23,754 | -€42,660 | -€16,251 | -€41,377 | -€70,801 | ▼ 71.1% |
| Amounts payable17/49 | €65,479 | €89,417 | €117,401 | €131,500 | €443,793 | €478,377 | ▲ 7.8% |
| Amounts payable after more than one year17 | €16,786 | €21,842 | €32,758 | €27,741 | €239,539 | €188,481 | ▼ 21.3% |
| Financial debts170/4 | - | - | - | €27,741 | €189,539 | €150,981 | ▼ 20.3% |
| Other amounts payable178/9 | - | - | - | - | €50,000 | €37,500 | ▼ 25.0% |
| Amounts payable within one year42/48 | €47,989 | €67,575 | €84,643 | €103,759 | €204,254 | €289,896 | ▲ 41.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,469 | €36,813 | €38,558 | ▲ 4.7% |
| Financial debts43 | - | - | - | €59,898 | €62,124 | €112,913 | ▲ 81.8% |
| Credit institutions430/8 | - | - | - | €59,898 | €62,124 | €112,913 | ▲ 81.8% |
| Trade debts44 | €14,184 | €18,688 | €16,214 | €12,950 | €52,581 | €108,361 | ▲ 106% |
| Suppliers440/4 | - | - | - | €12,950 | €52,581 | €108,361 | ▲ 106% |
| Taxes, remuneration and social security45 | - | - | - | €20,153 | €51,160 | €28,162 | ▼ 45.0% |
| Taxes450/3 | - | - | - | €17,149 | €28,975 | €2,228 | ▼ 92.3% |
| Remuneration and social security454/9 | - | - | - | €3,004 | €22,184 | €25,934 | ▲ 16.9% |
| Other amounts payable47/48 | - | - | - | €4,289 | €1,576 | €1,902 | ▲ 20.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,243 | -€6,986 | -€18,907 | €26,409 | -€25,126 | -€29,424 | ▼ 17.1% |
| + Depreciation and write-downs630 | €8,654 | €11,070 | €11,478 | €11,693 | €26,068 | €35,649 | ▲ 36.8% |
| Operating cash flow (approximation) | €12,897 | €4,084 | -€7,429 | €38,102 | €943 | €6,226 | ▲ 560% |
| Investment in fixed assets (approximation) | - | -€26,642 | -€21,636 | -€7,804 | -€234,921 | -€12,458 | ▲ 94.7% |
| Change in cash | - | -€3,365 | €84 | €11,257 | -€11,521 | €44,746 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 28-10-2024 | 2024-00516543 | |
| 31-12-2022 | micro format | 27-09-2023 | 2023-00461945 | |
| 31-12-2021 | micro format | 26-06-2022 | 2022-20140992 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-58900407 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49600336 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-55800378 | |
| 31-12-2017 | micro format | 26-06-2018 | 2018-24000077 | |
| 31-12-2016 | micro format | 28-07-2017 | 2017-39000548 | |
| 31-12-2015 | abbreviated format | 16-06-2016 | 2016-19000110 |