POLYCARPUS
Dissolved and wound upFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-03-2026 at the NBB all 3 filings
Equity
€62,316▼ 57.3%
2024 · €145,838
Total assets
€115,129▼ 21.3%
2024 · €146,297
Net result
-€16,521▲ 9.4%
2024 · -€18,231
Working capital
€67,316▼ 45.0%
2024 · €122,306
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€26,527
▼ 53.4%
2025
20232025
Net result
-€16,521
▲ 9.4%
2025
20232025
Equity
€62,316
▼ 57.3%
2025
20232025
Total assets
€115,129
▼ 21.3%
2025
20232025
Debt
€52,813
▲ 115×
2025
20232025
Working capital
€67,316
▼ 45.0%
2025
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€70,461--€17,293-€26,527▼ 53.4%
Net result€53,601--€18,231-€16,521▲ 9.4%
Equity€164,068-€145,838▼ 11.1%€62,316▼ 57.3%
Total assets€170,510-€146,297▼ 14.2%€115,129▼ 21.3%
Debt€6,442-€460▼ 92.9%€52,813▲ 115×
Working capital€129,105-€122,306▼ 5.3%€67,316▼ 45.0%
The operating result for 2025 is a loss of €26,527, larger than the loss of €17,293 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €115,129
Equity
€62,316 ▼ 57.3%
Debt
€52,813 ▲ 115×
Debt's share of the balance-sheet total rises from 0.3% to 45.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€16,214▼
2024 · -€5,862
Cash flow
-€6,208▲
2024 · -€6,799
Current ratio
2.41
Debt to equity
0.85▲
2024 · 0.00
ROE
-26.5%▼
2024 · -12.5%
ROA
-14.4%▼
2024 · -12.5%
Interest coverage
-12.92▼
2024 · -7.54
Debt ≤ 1 year
€47,813▲
2024 · €460
Income taxes
€127▼
2024 · €160
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €4,001 | - | - |
| Financial fixed assets | - | - | €0 |
| Depreciation and write-downs of the year | €10,550 | €11,432 | €10,313 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,550 | €11,432 | €10,313 | ▼ 9.8% |
| Other operating charges640/8 | €393 | €721 | €2,844 | ▲ 295% |
| Non-recurring operating charges66A | - | - | €809 | - |
| Gross operating margin9900 | €81,403 | -€5,141 | -€12,560 | ▼ 144% |
| Operating profit (loss)9901 | €70,461 | -€17,293 | -€26,527 | ▼ 53.4% |
| Financial income75/76B | €0 | €0 | €11,388 | ▲ 284,690× |
| Recurring financial income75 | €0 | €0 | €11,388 | ▲ 284,690× |
| Financial charges65/66B | -€3,365 | €777 | €1,255 | ▲ 61.5% |
| Recurring financial charges65 | -€3,365 | €777 | €1,255 | ▲ 61.5% |
| Profit (loss) for the period before taxes9903 | €73,826 | -€18,071 | -€16,394 | ▲ 9.3% |
| Income taxes67/77 | €20,225 | €160 | €127 | ▼ 20.7% |
| Profit (loss) for the period9904 | €53,601 | -€18,231 | -€16,521 | ▲ 9.4% |
| Profit (loss) for the period to be appropriated9905 | €53,601 | -€18,231 | -€16,521 | ▲ 9.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €170,510 | €146,297 | €115,129 | ▼ 21.3% |
| Fixed assets21/28 | €34,963 | €23,531 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €34,963 | €23,531 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €2,425 | €1,527 | €0 | ▼ 100% |
| Furniture and vehicles24 | €32,538 | €22,005 | €0 | ▼ 100% |
| Current assets29/58 | €135,547 | €122,766 | €115,129 | ▼ 6.2% |
| Amounts receivable within one year40/41 | €40,180 | €528 | €2,163 | ▲ 309% |
| Other amounts receivable41 | €40,180 | €528 | €2,163 | ▲ 309% |
| Current investments50/53 | €81,665 | €118,302 | €93,979 | ▼ 20.6% |
| Cash at bank and in hand54/58 | €12,974 | €3,272 | €18,988 | ▲ 480% |
| Deferred charges and accrued income490/1 | €728 | €664 | €0 | ▼ 100% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €170,510 | €146,297 | €115,129 | ▼ 21.3% |
| Equity10/15 | €164,068 | €145,838 | €62,316 | ▼ 57.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €154,068 | €135,838 | €53,601 | ▼ 60.5% |
| Distributable reserves133 | €154,068 | €135,838 | €53,601 | ▼ 60.5% |
| Profit (loss) carried forward14 | - | - | -€1,285 | - |
| Amounts payable17/49 | €6,442 | €460 | €52,813 | ▲ 115× |
| Amounts payable within one year42/48 | €6,442 | €460 | €47,813 | ▲ 104× |
| Trade debts44 | €217 | €262 | €926 | ▲ 253% |
| Suppliers440/4 | €217 | €262 | €926 | ▲ 253% |
| Taxes, remuneration and social security45 | €6,225 | €186 | €918 | ▲ 394% |
| Taxes450/3 | €6,225 | €186 | €918 | ▲ 394% |
| Other amounts payable47/48 | - | €11 | €45,968 | ▲ 4,032× |
| Accrued charges and deferred income492/3 | - | - | €5,000 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,601 | -€18,231 | -€16,521 | ▲ 9.4% |
| + Depreciation and write-downs630 | €10,550 | €11,432 | €10,313 | ▼ 9.8% |
| Operating cash flow (approximation) | €64,151 | -€6,799 | -€6,208 | ▲ 8.7% |
| Investment in fixed assets (approximation) | - | €0 | €13,218 | - |
| Change in cash | - | -€9,702 | €15,716 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.