Polyfase Spark
ActiveSummary
Polyfase Spark has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €72k and a net result of €-9k. Equity is shrinking by ~18.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▲+7
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 64.9 against 72.91 in 2024; short-term debt: 1.5% and cash: 96.6% of total assets), and 1.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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 €-9k
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 08-04-2026, 114 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
114 d early
2024
16 d early
2023
34 d early
2022
4 d early
2021
32 d early
2020
26 d early
2019
39 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€72k▼ 11.1%
2024 · €81k
2018: €414k
2019: €585k▲ +41.1% vs 2018highest in 8 years
2020: €167k▼ -71.5% vs 2019
2021: €135k▼ -18.9% vs 2020
2022: €118k▼ -12.6% vs 2021
2023: €103k▼ -12.7% vs 2022
2024: €81k▼ -21.8% vs 2023
2025: €72k▼ -11.1% vs 2024lowest in 8 years
2018 → 2025
Total assets
€73k▼ 11.0%
2024 · €82k
2018: €737k
2019: €770k▲ +4.5% vs 2018highest in 8 years
2020: €201k▼ -73.8% vs 2019
2021: €144k▼ -28.3% vs 2020
2022: €118k▼ -18.1% vs 2021
2023: €103k▼ -12.7% vs 2022
2024: €82k▼ -20.7% vs 2023
2025: €73k▼ -11.0% vs 2024lowest in 8 years
2018 → 2025
Net result
€-9k▲ 60.0%
2024 · €-23k
2018: €25k
2019: €171k▲ +571% vs 2018highest in 8 years
2020: €-418k▼ -345% vs 2019lowest in 8 years
2021: €-21k▲ +95.0% vs 2020
2022: €-17k▲ +19.2% vs 2021
2023: €-15k▲ +11.5% vs 2022
2024: €-23k▼ -49.7% vs 2023
2025: €-9k▲ +60.0% vs 2024
2018 → 2025
Working capital
€72k▼ 11.1%
2024 · €81k
2018: €-287klowest value
2019: €-150k▲ +47.7% vs 2018
2020: €69k▲ +146% vs 2019
2021: €50k▼ -26.9% vs 2020
2022: €43k▼ -15.7% vs 2021
2024: €81khighest value
2025: €72k▼ -11.1% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€135k-€118k▼ 12.6%€103k▼ 12.7%€81k▼ 21.8%€72k▼ 11.1%
2021: €135khighest in 5 years
2022: €118k▼ -12.6% vs 2021
2023: €103k▼ -12.7% vs 2022
2024: €81k▼ -21.8% vs 2023
2025: €72k▼ -11.1% vs 2024lowest in 5 years
Operating result€-9k-€-8k▲ 2.0%€-10k▼ 13.2%€-686k▼ 7,095%€-9k▲ 98.7%
2021: €-9k
2022: €-8k▲ +2.0% vs 2021highest in 5 years
2023: €-10k▼ -13.2% vs 2022
2024: €-686k▼ -7095% vs 2023lowest in 5 years
2025: €-9k▲ +98.7% vs 2024
Net result€-21k-€-17k▲ 19.2%€-15k▲ 11.5%€-23k▼ 49.7%€-9k▲ 60.0%
2021: €-21k
2022: €-17k▲ +19.2% vs 2021
2023: €-15k▲ +11.5% vs 2022
2024: €-23k▼ -49.7% vs 2023lowest in 5 years
2025: €-9k▲ +60.0% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9k in 2025 against €686k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €73k
Equity
€72k ▼ 11.1%
Debt
€1k =
Debt's share of the balance-sheet total rises from 1.4% to 1.5%. Equity is lower.
Key figures and ratios
Current ratio
64.90▼
2024 · 72.91
Debt to equity
0.02▲
2024 · 0.01
ROE
-12.5%▲
2024 · -27.9%
ROA
-12.3%▲
2024 · -27.5%
Debt ≤ 1 year
€1k=
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€82k€73k▼
Fixed assets21/28€0-
Tangible fixed assets22/27€0-
Land and buildings22€0-
Financial fixed assets28€0-
Current assets29/58€82k€73k▼
Stocks and contracts in progress3€1k€0▼
Stocks30/36€1k€0▼
Amounts receivable within one year40/41€661€2k▲
Trade receivables40-€2k
Other amounts receivable41€661€480▼
Cash at bank and in hand54/58€80k€70k▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€82k€73k▼
Equity10/15€81k€72k▼
Contributions10/11€19k€19k=
Reserves13€141k€141k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€141k€141k=
Profit (loss) carried forward14€-79k€-88k▼
Amounts payable17/49€1k€1k=
Amounts payable within one year42/48€1k€1k=
Trade debts44€1k€1k=
Suppliers440/4€1k€1k=
Income statement
Code20242025
Non-recurring operating income76A€15k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€680k€0▼
Gross operating margin9900€-3k€-7k▼
Operating profit (loss)9901€-686k€-9k▲
Financial income75/76B€663k€0▼
Recurring financial income75€663k€0▼
Non-recurring financial income76B€663k€0▼
Financial charges65/66B€102€45▼
Recurring financial charges65€102€45▼
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€-23k€-9k▲
Profit (loss) for the period9904€-23k€-9k▲
Profit (loss) for the period to be appropriated9905€-23k€-9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-81k€-88k▼
Profit (loss) brought forward from the previous period14P€-58k€-79k▼
Transfer from equity791/2€2k€0▼
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €15k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €576 | €544 | €514 | €0 | - | - |
| Other operating charges640/8 | €2k | €1k | €2k | €3k | €2k | ▼ 24.3% |
| Non-recurring operating charges66A | - | - | - | €680k | €0 | ▼ 100% |
| Gross operating margin9900 | €-6k | €-7k | €-7k | €-3k | €-7k | ▼ 132% |
| Operating profit (loss)9901 | €-9k | €-8k | €-10k | €-686k | €-9k | ▲ 98.7% |
| Financial income75/76B | €0 | - | - | €663k | €0 | ▼ 100% |
| Recurring financial income75 | €0 | - | - | €663k | €0 | ▼ 100% |
| Non-recurring financial income76B | - | - | - | €663k | €0 | ▼ 100% |
| Financial charges65/66B | €12k | €9k | €6k | €102 | €45 | ▼ 56.1% |
| Recurring financial charges65 | €42 | €73 | €39 | €102 | €45 | ▼ 56.1% |
| Non-recurring financial charges66B | €12k | €9k | €5k | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €-21k | €-17k | €-15k | €-23k | €-9k | ▲ 60.0% |
| Profit (loss) for the period9904 | €-21k | €-17k | €-15k | €-23k | €-9k | ▲ 60.0% |
| Profit (loss) for the period to be appropriated9905 | €-21k | €-17k | €-15k | €-23k | €-9k | ▲ 60.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €144k | €118k | €103k | €82k | €73k | ▼ 11.0% |
| Fixed assets21/28 | €85k | €76k | €70k | €0 | - | - |
| Tangible fixed assets22/27 | €16k | €15k | €15k | €0 | - | - |
| Land and buildings22 | €16k | €15k | €15k | €0 | - | - |
| Financial fixed assets28 | €69k | €60k | €55k | €0 | - | - |
| Current assets29/58 | €60k | €43k | €33k | €82k | €73k | ▼ 11.0% |
| Stocks and contracts in progress3 | - | - | - | €1k | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €1k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €2k | €2k | €0 | €661 | €2k | ▲ 275% |
| Trade receivables40 | €1k | €0 | - | - | €2k | - |
| Other amounts receivable41 | €96 | €2k | €0 | €661 | €480 | ▼ 27.4% |
| Cash at bank and in hand54/58 | €58k | €40k | €33k | €80k | €70k | ▼ 11.8% |
| Deferred charges and accrued income490/1 | €425 | €483 | €503 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €144k | €118k | €103k | €82k | €73k | ▼ 11.0% |
| Equity10/15 | €135k | €118k | €103k | €81k | €72k | ▼ 11.1% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €143k | €143k | €143k | €141k | €141k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Distributable reserves133 | €141k | €141k | €141k | €141k | €141k | = |
| Profit (loss) carried forward14 | €-26k | €-43k | €-58k | €-79k | €-88k | ▼ 11.4% |
| Amounts payable17/49 | €9k | €0 | - | €1k | €1k | = |
| Amounts payable within one year42/48 | €9k | €0 | - | €1k | €1k | = |
| Trade debts44 | €0 | - | - | €1k | €1k | = |
| Suppliers440/4 | €0 | - | - | €1k | €1k | = |
| Other amounts payable47/48 | €9k | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-21k | €-17k | €-15k | €-23k | €-9k | ▲ 60.0% |
| + Depreciation and write-downs630 | €576 | €544 | €514 | €0 | - | - |
| Operating cash flow (approximation) | €-20k | €-16k | €-15k | €-23k | €-9k | ▲ 60.0% |
| Investment in fixed assets (approximation) | - | €9k | €5k | €70k | - | - |
| Change in cash | - | €-17k | €-7k | €47k | €-9k | ▼ 120% |
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
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 6.56
Current ratio from 3.00 to 6.56; short-term debt falls from €35k to €9k.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-418k
Net result drops to €-418k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 16current ratio 3.00
Current ratio from 0.19 to 3.00; short-term debt falls from €185k to €35k.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €171k ▲571%
Net result €171k, the highest in the series.
31-12
Financial
Equity above €500kEq €585k ▲41.1%
2 profitable years in a row build equity to €585k.
Show earlier events
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Nieuwerkerken (Limb.) · 1 establishment unit since 2011
Ground area
2,208 m²
Building footprint
608 m²
Volume, LiDAR
2,755 m³
2 parcels, Flanders · tallest building 23.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KEVO
since 20112.199.674.938
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44011A0913/00M007 | Flanders | 1,127 m² | 1 · 456 m² | 23.5 m · 1 fl. |
| 71031A0652/00K002 | Flanders | 1,081 m² | 1 · 152 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,771 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-05-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
43320Joinery installation
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.