Polyform
Open bankruptcyA bankruptcy procedure is open for Polyform according to publications in the Belgian State Gazette; curator: CAROLINE DEWANDRE.
Summary
The file additionally contains 1 judicial reorganisation. The 2022 annual accounts show equity of €384k and a net result of €-763k.
Signals
Two signals.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2022, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-763k▼ 4,617%
2021 · €-16k
2018: €11khighest in 5 years
2019: €-314k▼ -2893% vs 2018
2020: €-60k▲ +81.0% vs 2019
2021: €-16k▲ +72.9% vs 2020
2022: €-763k▼ -4617% vs 2021lowest in 5 years
2018 → 2022
Working capital
€-662k
2021 · €33k
2018: €879khighest in 5 years
2019: €446k▼ -49.3% vs 2018
2020: €309k▼ -30.7% vs 2019
2021: €33k▼ -89.4% vs 2020
2022: €-662k▼ -2125% vs 2021lowest in 5 years
2018 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Equity€1.50M-€1.18M▼ 21.0%€1.12M▼ 5.1%€1.15M▲ 2.1%€384k▼ 66.5%
2018: €1.50Mhighest in 5 years
2019: €1.18M▼ -21.0% vs 2018
2020: €1.12M▼ -5.1% vs 2019
2021: €1.15M▲ +2.1% vs 2020
2022: €384k▼ -66.5% vs 2021lowest in 5 years
Operating result€56k-€-251k€19k€26k▲ 38.4%€-726k
2018: €56khighest in 5 years
2019: €-251k▼ -550% vs 2018
2020: €19k▲ +108% vs 2019
2021: €26k▲ +38.4% vs 2020
2022: €-726k▼ -2876% vs 2021lowest in 5 years
Net result€11k-€-314k€-60k▲ 81.0%€-16k▲ 72.9%€-763k▼ 4,617%
2018: €11khighest in 5 years
2019: €-314k▼ -2893% vs 2018
2020: €-60k▲ +81.0% vs 2019
2021: €-16k▲ +72.9% vs 2020
2022: €-763k▼ -4617% vs 2021lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €726k after €26k in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €4.17M
Fixed assets
€1.74M ▼ 8.3%
Current assets
€2.43M ▼ 8.4%
Equity and liabilities €4.33M
Equity
€384k ▼ 66.5%
Provisions
€25k =
Debt
€3.92M ▲ 9.6%
Debt's share of the balance-sheet total rises from 75.3% to 90.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-465k▼
2021 · €246k
Cash flow
€-502k▼
2021 · €204k
Current ratio
0.79▼
2021 · 1.01
Quick ratio
0.50▼
2021 · 0.56
Debt to equity
10.21▲
2021 · 3.12
ROE
-198.9%▼
2021 · -1.4%
ROA
-17.6%▼
2021 · -0.3%
Interest coverage
-10.12▼
2021 · 6.19
Debt ≤ 1 year
€3.09M▲
2021 · €2.62M
Debt > 1 year
€827k▼
2021 · €944k
Income taxes
€995▼
2021 · €12k
Staff costs
€1.46M▼
2021 · €1.65M
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 · 2022 against 2021 · 61 lines
Balance sheet
Code20212022
Assets
Total assets20/58€4.75M€4.33M▼
Formation expenses20€192k€153k▼
Fixed assets21/28€1.90M€1.74M▼
Tangible fixed assets22/27€1.90M€1.74M▼
Land and buildings22€1.67M€1.55M▼
Plant, machinery and equipment23€176k€157k▼
Furniture and vehicles24€7k€3k▼
Leasing and similar rights25€46k€37k▼
Assets under construction and advance payments27€5k-
Current assets29/58€2.65M€2.43M▼
Stocks and contracts in progress3€1.19M€899k▼
Stocks30/36€1.04M€766k▼
Contracts in progress37€148k€133k▼
Amounts receivable within one year40/41€1.06M€1.29M▲
Trade receivables40€995k€1.26M▲
Other amounts receivable41€67k€33k▼
Cash at bank and in hand54/58€344k€238k▼
Deferred charges and accrued income490/1€55k-
Equity and liabilities
Total equity and liabilities10/49€4.75M€4.33M▼
Equity10/15€1.15M€384k▼
Contributions10/11€1.52M€1.52M=
Capital10€1.52M€1.52M=
Issued capital100€1.52M€1.52M=
Profit (loss) carried forward14€-417k€-1.17M▼
Investment grants15€40k€30k▼
Provisions and deferred taxes16€25k€25k=
Provisions for liabilities and charges160/5€25k€25k=
Pensions and similar obligations160€25k€25k=
Amounts payable17/49€3.58M€3.92M▲
Amounts payable after more than one year17€944k€827k▼
Financial debts170/4€944k€827k▼
Amounts payable within one year42/48€2.62M€3.09M▲
Current portion of amounts payable after more than one year42€201k€116k▼
Financial debts43€273k€266k▼
Credit institutions430/8€273k€266k▼
Trade debts44€1.42M€2.23M▲
Suppliers440/4€1.42M€2.23M▲
Advances received on contracts in progress46€187k€159k▼
Taxes, remuneration and social security45€407k€258k▼
Taxes450/3€48k€51k▲
Remuneration and social security454/9€359k€206k▼
Other amounts payable47/48€132k€59k▼
Accrued charges and deferred income492/3€11k-
Income statement
Code20212022
Remuneration, social security and pensions62€1.65M€1.46M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€220k€261k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-4k€-114k▼
Other operating charges640/8€58k€164k▲
Operating charges capitalised as restructuring costs649€-192k-
Gross operating margin9900€1.76M€1.05M▼
Operating profit (loss)9901€26k€-726k▼
Financial income75/76B€10k€10k▲
Recurring financial income75€10k€10k▲
Financial charges65/66B€40k€46k▲
Recurring financial charges65€40k€46k▲
Profit (loss) for the period before taxes9903€-4k€-762k▼
Income taxes67/77€12k€995▼
Profit (loss) for the period9904€-16k€-763k▼
Profit (loss) for the period to be appropriated9905€-16k€-763k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-417k€-1.17M▼
Profit (loss) brought forward from the previous period14P€-401k€-407k▼
Social balance
Average headcount (FTE)908730.625.0▼
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.65M | €1.46M | ▼ 11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163k | €256k | €222k | €220k | €261k | ▲ 18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €-4k | €-114k | ▼ 2,892% |
| Other operating charges640/8 | - | - | - | €58k | €164k | ▲ 182% |
| Operating charges capitalised as restructuring costs649 | - | - | - | €-192k | - | - |
| Gross operating margin9900 | €2.41M | €1.89M | €1.98M | €1.76M | €1.05M | ▼ 40.4% |
| Operating profit (loss)9901 | €56k | €-251k | €19k | €26k | €-726k | ▼ 2,876% |
| Financial income75/76B | - | - | - | €10k | €10k | ▲ 3.9% |
| Recurring financial income75 | €1 | €3k | - | €10k | €10k | ▲ 3.9% |
| Financial charges65/66B | - | - | - | €40k | €46k | ▲ 15.8% |
| Recurring financial charges65 | €18k | €65k | €78k | €40k | €46k | ▲ 15.8% |
| Profit (loss) for the period before taxes9903 | €38k | €-313k | €-59k | €-4k | €-762k | ▼ 19,089% |
| Income taxes67/77 | €26k | €1k | €1k | €12k | €995 | ▼ 91.9% |
| Profit (loss) for the period9904 | €11k | €-314k | €-60k | €-16k | €-763k | ▼ 4,617% |
| Profit (loss) for the period to be appropriated9905 | €11k | €-314k | €-60k | €-16k | €-763k | ▼ 4,617% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.28M | €4.59M | €4.48M | €4.75M | €4.33M | ▼ 8.8% |
| Formation expenses20 | - | - | - | €192k | €153k | ▼ 20.0% |
| Fixed assets21/28 | €966k | €2.09M | €1.94M | €1.90M | €1.74M | ▼ 8.3% |
| Tangible fixed assets22/27 | €966k | €2.09M | €1.94M | €1.90M | €1.74M | ▼ 8.3% |
| Land and buildings22 | - | - | - | €1.67M | €1.55M | ▼ 7.1% |
| Plant, machinery and equipment23 | - | - | - | €176k | €157k | ▼ 10.9% |
| Furniture and vehicles24 | - | - | - | €7k | €3k | ▼ 60.4% |
| Leasing and similar rights25 | - | - | - | €46k | €37k | ▼ 20.7% |
| Assets under construction and advance payments27 | - | - | - | €5k | - | - |
| Current assets29/58 | €2.31M | €2.50M | €2.54M | €2.65M | €2.43M | ▼ 8.4% |
| Stocks and contracts in progress3 | €1.02M | €1.06M | €768k | €1.19M | €899k | ▼ 24.6% |
| Stocks30/36 | - | - | - | €1.04M | €766k | ▼ 26.7% |
| Contracts in progress37 | - | - | - | €148k | €133k | ▼ 10.0% |
| Amounts receivable within one year40/41 | €864k | €789k | €1.23M | €1.06M | €1.29M | ▲ 21.7% |
| Trade receivables40 | - | - | - | €995k | €1.26M | ▲ 26.5% |
| Other amounts receivable41 | - | - | - | €67k | €33k | ▼ 50.3% |
| Cash at bank and in hand54/58 | €340k | €416k | €401k | €344k | €238k | ▼ 30.8% |
| Deferred charges and accrued income490/1 | - | - | - | €55k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.28M | €4.59M | €4.48M | €4.75M | €4.33M | ▼ 8.8% |
| Equity10/15 | €1.50M | €1.18M | €1.12M | €1.15M | €384k | ▼ 66.5% |
| Contributions10/11 | €1.52M | €1.52M | €1.52M | €1.52M | €1.52M | = |
| Capital10 | - | - | - | €1.52M | €1.52M | = |
| Issued capital100 | - | - | - | €1.52M | €1.52M | = |
| Profit (loss) carried forward14 | €-27k | €-341k | €-401k | €-417k | €-1.17M | ▼ 181% |
| Investment grants15 | - | - | - | €40k | €30k | ▼ 24.1% |
| Provisions and deferred taxes16 | €59k | €33k | €25k | €25k | €25k | = |
| Provisions for liabilities and charges160/5 | - | - | - | €25k | €25k | = |
| Pensions and similar obligations160 | - | - | - | €25k | €25k | = |
| Amounts payable17/49 | €1.72M | €3.38M | €3.33M | €3.58M | €3.92M | ▲ 9.6% |
| Amounts payable after more than one year17 | €290k | €1.30M | €1.10M | €944k | €827k | ▼ 12.3% |
| Financial debts170/4 | - | - | - | €944k | €827k | ▼ 12.3% |
| Amounts payable within one year42/48 | €1.43M | €2.05M | €2.23M | €2.62M | €3.09M | ▲ 18.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €201k | €116k | ▼ 42.1% |
| Financial debts43 | - | - | - | €273k | €266k | ▼ 2.6% |
| Credit institutions430/8 | - | - | - | €273k | €266k | ▼ 2.6% |
| Trade debts44 | €607k | €845k | €1.14M | €1.42M | €2.23M | ▲ 57.1% |
| Suppliers440/4 | - | - | - | €1.42M | €2.23M | ▲ 57.1% |
| Advances received on contracts in progress46 | - | - | - | €187k | €159k | ▼ 14.8% |
| Taxes, remuneration and social security45 | - | - | - | €407k | €258k | ▼ 36.6% |
| Taxes450/3 | - | - | - | €48k | €51k | ▲ 6.8% |
| Remuneration and social security454/9 | - | - | - | €359k | €206k | ▼ 42.4% |
| Other amounts payable47/48 | - | - | - | €132k | €59k | ▼ 55.5% |
| Accrued charges and deferred income492/3 | - | - | - | €11k | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €-314k | €-60k | €-16k | €-763k | ▼ 4,617% |
| + Depreciation and write-downs630 | €163k | €256k | €222k | €220k | €261k | ▲ 18.7% |
| Operating cash flow (approximation) | €174k | €-58k | €162k | €204k | €-502k | ▼ 347% |
| Investment in fixed assets (approximation) | - | €-1.38M | €-68k | €-184k | €-104k | ▲ 43.7% |
| Change in cash | - | €76k | €-14k | €-57k | €-106k | ▼ 86.2% |
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
2024
09-10
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 03-10-2024
23-04
Judicial reorganisation
Opening
Tribunal de l’entreprise de Liège · collective agreement · event 16-04-2024
11-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 255 days late
2022
31-12
Financial
Weakest financial yearnet €-763k
Net result drops to €-763k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 27 days late
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Ans · 2 establishment units since 2015
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.
Rue Bonne-Fortune 1024430 AnsGround area
1,225 m²
Building footprint
210 m²
Volume, LiDAR
1,045 m³
Parcel 63046C0262/00X004, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Polyform
since 20152.241.074.637
Polyform
since 20222.327.911.710
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63046C0262/00X004 | Wallonia | 1,225 m² | 1 · 210 m² | 6.8 m · 2 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CAROLINE DEWANDRE PLACE VERTE 13,
4000 LIEGE 1 |
03-10-2024 → present |
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Of 139 companies in sector 20160 we hold annual accounts for 95. 44 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
20160Manufacture of chemicals and chemical products
22260Manufacture of rubber and plastic products
24200Manufacture of basic metals
Scores and ratios are computed by Checked and are not a credit decision.