PolyArtes
ActiveSummary
PolyArtes has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€21,416) and a net result of -€12,882. Equity is growing by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 10% of 3505 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-15
Solvency0▼-11
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.08 against 0.16 in 2024; short-term debt: 83.3% and cash: 3.4% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-39.7%
Return on assets
-23.9%
Age of the figures
15 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€21,416
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-12-2025, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
58 d early
2024
57 d early
2023
63 d early
2022
64 d early
2021
101 d early
2020
54 d early
2019
56 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 65 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€21,416▼ 151%
2024 · -€8,534
Total assets
€53,929▼ 13.1%
2024 · €62,081
Net result
-€12,882▼ 78.5%
2024 · -€7,215
Working capital
-€41,301▼ 41.4%
2024 · -€29,214
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,022▲ 255%€10,157▲ 1.3%€4,111▼ 59.5%-€5,683-€11,779▼ 107%
Net result€9,830within the sector's middle half▲ 266%€9,631within the sector's middle half▼ 2.0%€2,833within the sector's middle half▼ 70.6%-€7,215below the sector's middle half-€12,882below the sector's middle half▼ 78.5%
Equity-€13,783below the sector's middle half▲ 41.6%-€4,152below the sector's middle half▲ 69.9%-€1,319below the sector's middle half▲ 68.2%-€8,534below the sector's middle half▼ 547%-€21,416below the sector's middle half▼ 151%
Total assets€11,686below the sector's middle half▲ 3.6%€48,600within the sector's middle half▲ 316%€71,661within the sector's middle half▲ 47.5%€62,081within the sector's middle half▼ 13.4%€53,929within the sector's middle half▼ 13.1%
Debt€25,469▼ 27.0%€52,752▲ 107%€72,980▲ 38.3%€70,615▼ 3.2%€75,345▲ 6.7%
Working capital-€21,509▲ 17.3%-€16,085▲ 25.2%-€24,822▼ 54.3%-€29,214▼ 17.7%-€41,301▼ 41.4%
Solvency-117.9%below the sector's middle half▲ 91.3pp-8.5%below the sector's middle half▲ 109.4pp-1.8%below the sector's middle half▲ 6.7pp-13.7%below the sector's middle half▼ 11.9pp-39.7%below the sector's middle half▼ 26.0pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11,779 in 2025 against €5,683 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €53,929
Fixed assets
€50,332 ▼ 10.9%
Current assets
€3,597 ▼ 35.8%
Key figures and ratios
EBITDA
-€5,637▼
2024 · €2,100
Cash flow
-€6,740▼
2024 · €568
Current ratio
0.08▼
2024 · 0.16
Quick ratio
0.05▼
2024 · 0.12
Debt to equity
-3.52▲
2024 · -8.27
ROA
-23.9%▼
2024 · -11.6%
Interest coverage
-5.00▼
2024 · 1.33
Debt ≤ 1 year
€44,898▲
2024 · €34,820
Debt > 1 year
€30,447▼
2024 · €35,795
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,940 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,130 | €5,082 | €9,195 | €7,783 | €6,142 | ▼ 21.1% |
| Other operating charges640/8 | - | €120 | €254 | €141 | €144 | ▲ 2.1% |
| Gross operating margin9900 | €13,271 | €15,359 | €13,560 | €2,241 | -€5,493 | ▼ 345% |
| Operating profit (loss)9901 | €10,022 | €10,157 | €4,111 | -€5,683 | -€11,779 | ▼ 107% |
| Financial income75/76B | - | €102 | €61 | €44 | €24 | ▼ 45.5% |
| Recurring financial income75 | - | €102 | €61 | €44 | €24 | ▼ 45.5% |
| Financial charges65/66B | - | €628 | €1,339 | €1,576 | €1,127 | ▼ 28.5% |
| Recurring financial charges65 | €192 | €628 | €1,339 | €1,576 | €1,127 | ▼ 28.5% |
| Profit (loss) for the period before taxes9903 | €9,830 | €9,631 | €2,833 | -€7,215 | -€12,882 | ▼ 78.5% |
| Profit (loss) for the period9904 | €9,830 | €9,631 | €2,833 | -€7,215 | -€12,882 | ▼ 78.5% |
| Profit (loss) for the period to be appropriated9905 | €9,830 | €9,631 | €2,833 | -€7,215 | -€12,882 | ▼ 78.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11,686 | €48,600 | €71,661 | €62,081 | €53,929 | ▼ 13.1% |
| Fixed assets21/28 | €7,726 | €40,166 | €63,712 | €56,475 | €50,332 | ▼ 10.9% |
| Tangible fixed assets22/27 | €7,726 | €40,166 | €63,712 | €56,475 | €50,332 | ▼ 10.9% |
| Land and buildings22 | - | €32,777 | €54,861 | €51,615 | €48,369 | ▼ 6.3% |
| Plant, machinery and equipment23 | - | €5,141 | €2,175 | €742 | €144 | ▼ 80.6% |
| Furniture and vehicles24 | - | €2,248 | €6,676 | €4,118 | €1,819 | ▼ 55.8% |
| Current assets29/58 | €3,960 | €8,434 | €7,949 | €5,606 | €3,597 | ▼ 35.8% |
| Stocks and contracts in progress3 | €1,950 | €1,530 | €1,465 | €1,580 | €1,420 | ▼ 10.1% |
| Stocks30/36 | - | €1,530 | €1,465 | €1,580 | €1,420 | ▼ 10.1% |
| Amounts receivable within one year40/41 | €423 | €592 | €3,426 | €424 | €357 | ▼ 15.8% |
| Trade receivables40 | - | €131 | €3,426 | €424 | €357 | ▼ 15.8% |
| Other amounts receivable41 | - | €461 | - | - | - | - |
| Cash at bank and in hand54/58 | €1,587 | €6,312 | €3,058 | €3,602 | €1,820 | ▼ 49.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11,686 | €48,600 | €71,661 | €62,081 | €53,929 | ▼ 13.1% |
| Equity10/15 | -€13,783 | -€4,152 | -€1,319 | -€8,534 | -€21,416 | ▼ 151% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€21,843 | -€12,212 | -€9,379 | -€16,594 | -€29,476 | ▼ 77.6% |
| Amounts payable17/49 | €25,469 | €52,752 | €72,980 | €70,615 | €75,345 | ▲ 6.7% |
| Amounts payable after more than one year17 | - | €28,233 | €40,209 | €35,795 | €30,447 | ▼ 14.9% |
| Financial debts170/4 | - | €28,233 | €40,209 | €35,795 | €30,447 | ▼ 14.9% |
| Amounts payable within one year42/48 | €25,469 | €24,519 | €32,771 | €34,820 | €44,898 | ▲ 28.9% |
| Current portion of amounts payable after more than one year42 | - | €4,586 | €4,702 | €4,413 | €4,941 | ▲ 12.0% |
| Trade debts44 | €285 | €1,588 | €1,515 | €1,320 | €856 | ▼ 35.2% |
| Suppliers440/4 | - | €1,588 | €1,515 | €1,320 | €856 | ▼ 35.2% |
| Advances received on contracts in progress46 | - | - | - | €465 | €332 | ▼ 28.6% |
| Taxes, remuneration and social security45 | - | €1,200 | €1,478 | €2,407 | €9,895 | ▲ 311% |
| Taxes450/3 | - | - | €278 | €1,207 | €1,495 | ▲ 23.9% |
| Remuneration and social security454/9 | - | €1,200 | €1,200 | €1,200 | €8,400 | ▲ 600% |
| Other amounts payable47/48 | - | €17,145 | €25,076 | €26,215 | €28,874 | ▲ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,830 | €9,631 | €2,833 | -€7,215 | -€12,882 | ▼ 78.5% |
| + Depreciation and write-downs630 | €3,130 | €5,082 | €9,195 | €7,783 | €6,142 | ▼ 21.1% |
| Operating cash flow (approximation) | €12,960 | €14,713 | €12,028 | €568 | -€6,740 | ▼ 1,287% |
| Investment in fixed assets (approximation) | - | -€37,522 | -€32,741 | -€546 | €1 | ▲ 100% |
| Change in cash | - | €4,725 | -€3,254 | €544 | -€1,782 | ▼ 428% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
04-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Weakest financial yearnet -€12,882
Net result drops to -€12,882, the lowest in the series.
2024
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
22-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Highest result since 2019net €9,830 ▲266%
Net result €9,830, the highest in the series.
2020
08-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Back to profitnet €2,686
Net result €2,686 after one loss-making year.
2019
06-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
06-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
09-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
12-12
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.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Horebeke · 1 establishment unit since 2011
Ground area
149 m²
Building footprint
70 m²
Volume, LiDAR
563 m³
Parcel 45048B0409/00A000, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PolyArtes
since 20112.200.789.349
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45048B0409/00A000 | Flanders | 149 m² | 1 · 70 m² | 10.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 4,000 EUR awarded · 4,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Similar companies · same sector and region
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-07-2011
Fiscal year end30-06
Activities, NACEBEL 2025
74201Photography, excluding press photography
90201Performing arts by independent artists
90111Literary creation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837648151
Also
9925:BE0837648151
Registered
02-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.