POLYBULL
InactivePOLYBULL was declared bankrupt on 11-08-2023 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 11-02-2025, published in the Belgian State Gazette on 18-02-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Ghent
- Opened
- 10 January 2023
- Track
- Reorganisation by collective agreement
- Docket number
- 20220022
- Delegated judge
- Jan Buyckx
- Official Gazette
- 13-01-2023 (pdf) ↗search the document for 2023/100787
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
30-09-2023 close30-04-2024 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2022 was due by 30-04-2023 and was filed on 28-04-2023, 2 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
2 d early
2021
38 d early
2020
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 14 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, micro schema
Equity
-€128,760
2021 · €12,156
Total assets
€33,306▼ 47.7%
2021 · €63,739
Net result
-€140,916
2021 · €4,240
Working capital
-€149,041▼ 1,581%
2021 · -€8,865
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202020212022
Operating result€6,131-€8,527▲ 39.1%-€136,380
Net result€4,716-€4,240▼ 10.1%-€140,916
Equity€7,916-€12,156▲ 53.6%-€128,760
Total assets€32,547-€63,739▲ 95.8%€33,306▼ 47.7%
Debt€24,631-€51,582▲ 109%€162,066▲ 214%
Working capital€9,430--€8,865-€149,041▼ 1,581%
Staff (FTE)0.93▲ 233%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €136,380 after €8,527 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €33,306
Fixed assets
€20,281 ▼ 10.2%
Current assets
€13,025 ▼ 68.4%
Key figures and ratios
EBITDA
-€128,564▼
2021 · €13,235
Cash flow
-€133,101▼
2021 · €8,949
Solvency
-386.6%▼
2021 · 19.1%
Current ratio
0.08▼
2021 · 0.82
Debt to equity
-1.26▼
2021 · 0.13
ROA
-423.1%▼
2021 · 6.7%
Interest coverage
-28.12
Debt ≤ 1 year
€162,066▲
2021 · €50,024
Income taxes
€486▼
2021 · €1,596
Staff costs
€103,267
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €103,267 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,520 | €4,708 | €7,816 | ▲ 66.0% |
| Other operating charges640/8 | - | - | €4,064 | - |
| Non-recurring operating charges66A | - | - | €9,107 | - |
| Gross operating margin9900 | €10,279 | €45,433 | -€12,126 | ▼ 127% |
| Operating profit (loss)9901 | €6,131 | €8,527 | -€136,380 | ▼ 1,699% |
| Financial income75/76B | - | - | €523 | - |
| Recurring financial income75 | €443 | €102 | €523 | ▲ 410% |
| Financial charges65/66B | - | - | €4,573 | - |
| Recurring financial charges65 | €1,761 | €2,793 | €4,573 | ▲ 63.7% |
| Profit (loss) for the period before taxes9903 | €4,812 | €5,837 | -€140,430 | ▼ 2,506% |
| Income taxes67/77 | €96 | €1,596 | €486 | ▼ 69.5% |
| Profit (loss) for the period9904 | €4,716 | €4,240 | -€140,916 | ▼ 3,423% |
| Profit (loss) for the period to be appropriated9905 | €4,716 | €4,240 | -€140,916 | ▼ 3,423% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €32,547 | €63,739 | €33,306 | ▼ 47.7% |
| Fixed assets21/28 | €6,367 | €22,579 | €20,281 | ▼ 10.2% |
| Tangible fixed assets22/27 | €6,367 | €22,579 | €20,281 | ▼ 10.2% |
| Plant, machinery and equipment23 | - | - | €19 | - |
| Furniture and vehicles24 | - | - | €20,262 | - |
| Current assets29/58 | €26,180 | €41,160 | €13,025 | ▼ 68.4% |
| Amounts receivable within one year40/41 | €25,656 | €27,907 | €12,815 | ▼ 54.1% |
| Trade receivables40 | - | - | €12,815 | - |
| Cash at bank and in hand54/58 | €82 | €13,253 | €210 | ▼ 98.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €32,547 | €63,739 | €33,306 | ▼ 47.7% |
| Equity10/15 | €7,916 | €12,156 | -€128,760 | ▼ 1,159% |
| Contributions10/11 | - | - | €3,200 | - |
| Reserves13 | €4,716 | €8,956 | - | - |
| Profit (loss) carried forward14 | - | - | -€131,960 | - |
| Amounts payable17/49 | €24,631 | €51,582 | €162,066 | ▲ 214% |
| Amounts payable after more than one year17 | €7,253 | €1,558 | - | - |
| Amounts payable within one year42/48 | €16,750 | €50,024 | €162,066 | ▲ 224% |
| Current portion of amounts payable after more than one year42 | - | - | €1,587 | - |
| Financial debts43 | - | - | €8 | - |
| Credit institutions430/8 | - | - | €8 | - |
| Trade debts44 | €7,249 | €15,425 | €33,177 | ▲ 115% |
| Suppliers440/4 | - | - | €33,177 | - |
| Taxes, remuneration and social security45 | - | - | €30,892 | - |
| Taxes450/3 | - | - | €26,396 | - |
| Remuneration and social security454/9 | - | - | €4,496 | - |
| Other amounts payable47/48 | - | - | €96,403 | - |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,716 | €4,240 | -€140,916 | ▼ 3,423% |
| + Depreciation and write-downs630 | €3,520 | €4,708 | €7,816 | ▲ 66.0% |
| Operating cash flow (approximation) | €8,236 | €8,949 | -€133,101 | ▼ 1,587% |
| Investment in fixed assets (approximation) | - | -€20,920 | -€5,518 | ▲ 73.6% |
| Change in cash | - | €13,171 | -€13,043 | ▼ 199% |
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
2025
18-02
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 11-02-2025
2023
18-08
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 11-08-2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
13-01
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 10-01-2023
2022
30-09
Financial
Weakest financial yearnet -€140,916
Net result drops to -€140,916, the lowest in the series.
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | OLIVIER DE PAEPE ZEISTRAAT 1A 002, 9850 NEVELE- |
11-08-2023 → 11-02-2025 |