Checked.be
Active
BE 0809.258.726Private limited company (pre-2019)
POLY-SMID
Halsesteenweg 408 ·9403 Ninove, Belgium· 17 yrs active
Sector: Forging of metal
(25401)
Conclusion
POLY-SMID has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85k and a net result of €12k. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 68% of 1839 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €85k |
| Net result | €12k |
| Better than sector | 68% |
| Active | 17 yrs |
Financial profile
84
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
71
Solvency
99
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2009, 17 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
100
/ 100
Excellent
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
€9k
estimate, not credit advice
Score history
93
2022
86
2023
96
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.07 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.98 (≥ 1.0)
+5
Leverage
Debt/equity 0.56 (< 1.0)
+10
Profitability
ROE 14% (≥ 10%)
+10
Interest coverage
Interest coverage 10.7× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
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 02-02-2026 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
Equity: growth of ~13.2%/year over 4 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 25, Manufacture of fabricated metal products, except machinery and equipment · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 64.0% | 45.5% | |
| Net result | €12k | €12k | |
| Equity | €85k | €77k | |
| Gross operating margin | €49k | €48k | |
| Staff costs | €8k | €43k |
€40k
+32.3%
22-25
€12k
+39.3%
22-25
€27k
+75.3%
22-25
€133k
-1.6%
22-25
€85k
+15.3%
22-25
€51k
+63.9%
22-25
0
-100.0%
22-25
€8k
-82.6%
22-25
€9k
+4079.4%
22-25
€833
-
22-25
€48k
-21.8%
22-25
€48k
-21.8%
22-25
2.07
+37.1%
22-25
1.98
+36.1%
22-25
64.0%
+17.1%
22-25
0.56
-32.2%
22-25
14.2%
+20.8%
22-25
9.1%
+41.5%
22-25
10.66
+412.5%
22-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | +32.3% | +134.4% | -61.3% | - |
| Net profit | +39.3% | +36.2% | -73.1% | - |
| Cash flow | +75.3% | +45.6% | -62.2% | - |
| Staff costs | -82.6% | -23.5% | +32.2% | - |
| Income taxes | +4079.4% | -47.7% | -87.7% | - |
| Dividends | - | - | - | - |
| Total assets | -1.6% | +4.9% | +14.6% | - |
| Equity | +15.3% | +13.3% | +10.9% | - |
| Debt | -21.8% | -3.8% | +18.7% | - |
| of which ≤ 1y | -21.8% | -3.8% | +18.7% | - |
| of which > 1y | - | - | - | - |
| Working capital | +63.9% | -45.9% | +22.3% | - |
| Employees (FTE) | -100.0% | 0.0% | 0.0% | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 2.07 | 1.51 | 1.91 | 1.88 |
| Quick ratio | 1.98 | 1.46 | 1.29 | 1.70 |
| Working capital ratio | 38.6% | 23.2% | 44.9% | 42.1% |
| Solvency | 64.0% | 54.6% | 50.5% | 52.2% |
| Debt / equity | 0.56 | 0.83 | 0.98 | 0.91 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | 10.66 | 2.08 | 6.99 | 19.65 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 9.1% | 6.4% | 4.9% | 21.1% |
| ROE | 14.2% | 11.8% | 9.8% | 40.3% |
| 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 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €133k | €136k | €129k | €113k |
| Fixed assets | 21/28 | €34k | €43k | €7k | €11k |
| Tangible fixed assets | 22/27 | €34k | €42k | €7k | €11k |
| Financial fixed assets | 28 | €135 | €373 | €373 | €373 |
| Current assets | 29/58 | €100k | €93k | €122k | €101k |
| Stocks & contracts in progress | 3 | €4k | €3k | €40k | €10k |
| Amounts receivable within one year | 40/41 | €22k | €52k | €44k | €37k |
| Cash & bank | 54/58 | €70k | €33k | €35k | €52k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €133k | €136k | €129k | €113k |
| Equity | 10/15 | €85k | €74k | €65k | €59k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €62k | €43k | €43k | €43k |
| Accumulated profits (losses) | 14 | €5k | €13k | €4k | €-2k |
| Amounts payable | 17/49 | €48k | €62k | €64k | €54k |
| Amounts payable within one year | 42/48 | €48k | €62k | €64k | €54k |
| Trade debts payable within one year | 44 | €5k | €12k | €19k | €23k |
| Income statement | |||||
| Gross operating margin | 9900 | €49k | €75k | €71k | €79k |
| Operating result | 9901 | €25k | €23k | €9k | €29k |
| Financial income | 75 | €11 | €37 | €18 | €6 |
| Financial charges | 65 | €4k | €14k | €2k | €2k |
| Result before taxes | 9903 | €21k | €9k | €7k | €27k |
| Income taxes | 67/77 | €9k | €215 | €412 | €3k |
| Net result for the period | 9904 | €12k | €9k | €6k | €24k |
| Result to be appropriated | 9905 | €12k | €9k | €6k | €24k |
Legal Structure
| NACE primary | Forging of metal(25401) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 21-01-2009 |
| Status | Active |
| Postal code | 9403 |
Establishment units
POLY-SMID
since 20092.175.988.033
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41045A0054/00Y004 | Flanders | 587 m² | 1 · 329 m² | 10.7 m · 1 fl. |
Methodology
via registered seat: 1
1 of 1 parcel 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
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
14-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
30-06
Financial
Weakest financial yearnet €6k ▼73.1%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
23-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
21-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
26-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
09-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-01
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
Forging of metal25401Manufacture of metal structures and parts of structures25110
Names & trade names
| Legal nameNL | POLY-SMID |
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