POLYCONSTRUCT
ActivePOLYCONSTRUCT has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €197k and a net result of €-11k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 53% of 7760 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability15▼-29
Solvency72▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.82 against 1.5 in 2024; short-term debt: 51.6% and cash: 7.9% of total assets), but 53.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-11k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
42 d early
2023
54 d early
2022
9 d late
2021
24 d late
2020
18 d late
2019
47 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-11k▼ 5.7%
2024 · €-11k
2018: €-24k
2019: €-17k
2020: €39k
2021: €-10k
2022: €10k
2023: €9k
2024: €-11k
2018 → 2025
Working capital
€178k▲ 0.4%
2024 · €177k
2018: €212k
2019: €190k
2020: €225k
2021: €328k
2022: €239k
2023: €210k
2024: €177k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€200k-€209k▲ 4.9%€219k▲ 4.5%€208k▼ 4.8%€197k▼ 5.3%
Operating result€-8k-€27k€-24k€-10k▲ 58.1%€-14k▼ 44.7%
Net result€-10k-€10k€9k▼ 3.1%€-11k€-11k▼ 5.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €14k in 2025 against €10k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €420k
Fixed assets
€26k▼ 36.1%
Current assets
€395k▼ 25.2%
Equity and liabilities €420k
Equity
€197k▼ 5.3%
Debt
€223k▼ 37.9%
The debt ratio falls from 63.3% to 53.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-7k▼
2024 · €6k
Cash flow
€-4k▼
2024 · €5k
Solvency
46.9%▲
2024 · 36.7%
Current ratio
1.82▲
2024 · 1.50
Quick ratio
1.19▲
2024 · 1.19
Debt / equity
1.13▼
2024 · 1.73
ROE
-5.7%▼
2024 · -5.1%
ROA
-2.6%▼
2024 · -1.9%
Interest coverage
-5.46▼
2024 · 3.34
Debt
€223k▼
2024 · €360k
Debt ≤ 1 year
€217k▼
2024 · €351k
Debt > 1 year
€6k▼
2024 · €9k
Income taxes
€168▲
2024 · €-22
Staff costs
€172k▼
2024 · €217k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€568k€420k▼
Fixed assets21/28€40k€26k▼
Tangible fixed assets22/27€38k€23k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€36k€22k▼
Financial fixed assets28€2k€2k▲
Current assets29/58€528k€395k▼
Stocks and contracts in progress3€110k€136k▲
Contracts in progress37€110k€136k▲
Amounts receivable within one year40/41€329k€222k▼
Trade receivables40€305k€197k▼
Other amounts receivable41€24k€25k▲
Cash at bank and in hand54/58€81k€33k▼
Deferred charges and accrued income490/1€8k€4k▼
Equity and liabilities
Total equity and liabilities10/49€568k€420k▼
Equity10/15€208k€197k▼
Contributions10/11€37k€37k=
Reserves13€195k€195k=
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Distributable reserves133€192k€192k=
Profit (loss) carried forward14€-24k€-36k▼
Amounts payable17/49€360k€223k▼
Amounts payable after more than one year17€9k€6k▼
Financial debts170/4€9k€6k▼
Amounts payable within one year42/48€351k€217k▼
Current portion of amounts payable after more than one year42€17k€3k▼
Trade debts44€172k€80k▼
Suppliers440/4€104k€80k▼
Bills of exchange payable441€68k-
Taxes, remuneration and social security45€18k€7k▼
Taxes450/3€15k€6k▼
Remuneration and social security454/9€3k€292▼
Other amounts payable47/48€144k€128k▼
Income statement
Code20242025
Remuneration, social security and pensions62€217k€172k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€7k▼
Other operating charges640/8€6k€5k▼
Non-recurring operating charges66A-€7k
Gross operating margin9900€229k€177k▼
Operating profit (loss)9901€-10k€-14k▼
Financial income75/76B€1k€8k▲
Recurring financial income75€1k€1k▼
Non-recurring financial income76B-€7k
Financial charges65/66B€2k€4k▲
Recurring financial charges65€2k€1k▼
Non-recurring financial charges66B-€3k
Profit (loss) for the period before taxes9903€-11k€-11k▼
Income taxes67/77€-22€168▲
Profit (loss) for the period9904€-11k€-11k▼
Profit (loss) for the period to be appropriated9905€-11k€-11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-24k€-36k▼
Profit (loss) brought forward from the previous period14P€-14k€-24k▼
Social balance
Average headcount (FTE)90877.44.9▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 9 days late
2022
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
31-12
Financial
Equity above €200kEq €209k ▲4.9%
Equity rises from €200k to €209k.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 24 days late
2021
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 18 days late
2020
31-12
Financial
Back to profitnet €39k
Net result €39k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €209k ▲23%
Equity rises from €170k to €209k.
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 47 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
12-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 73 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Vorst · 1 establishment unit since 1990
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Boergondiëstraat 291190 VorstGround area
115 m²
Building footprint
75 m²
Volume, LiDAR
823 m³
Parcel 21382C0227/00B016, Brussels · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Boergondiëstraat 29, 1190 Vorst
since 19902.047.915.468
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0227/00B016 | Brussels | 115 m² | 1 · 75 m² | 15.5 m · 4 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Recognised contractor
20 categoriesPOLYCONSTRUCT SRL22360
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Of 8,456 companies in sector 43120 we hold annual accounts for 3,233. 2,601 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-01-1990
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43120Site preparation
45112
45211
42110Construction of roads and motorways
43350Other building finishing work
43990Other specialised construction activities
43999Specialised construction activities
45230
45250
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.