Polymation
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 43 days after the deadline Filed on 12 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00511527.
Annual accounts 2025 filed on 12-09-2026 at the NBB all 22 filings
Turnover
€18,450▲ 83.4%
2021 · €10,057
EBIT margin
3.8%▲ 16.9pp
2021 · -13.1%
Net result
-€4,060▲ 10.8%
2024 · -€4,552
Working capital
-€7,512▼ 118%
2024 · -€3,452
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€3,865
▲ 13.7%
2025
20182025
Net result
-€4,060
▲ 10.8%
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
-€87,512
▼ 4.9%
2025
lowest quarter of the sector
20182025
Total assets
€8,465
▼ 2.3%
2025
lowest quarter of the sector
20182025
Debt
€95,977
▲ 4.2%
2025
20182025
Working capital
-€7,512
▼ 118%
2025
lowest quarter of the sector
20182025
Solvency
no figure
2025
20182025
Current ratio
0.53
▼ 0.19
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-48.0%
▲ 4.6pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€9,321-€14,450▲ 55.0%€10,444▼ 27.7%€10,057▼ 3.7%€18,450▲ 83.4%
Operating result€2,031--€5,132€5,000-€1,314€710-€862-€4,477▼ 419%-€3,865▲ 13.7%
Net result€1,354--€5,990€4,946within the sector's middle half-€1,354below the sector's middle half€665within the sector's middle half-€551below the sector's middle half-€4,552below the sector's middle half▼ 725%-€4,060below the sector's middle half▲ 10.8%
EBIT margin21.8%--35.5%▼ 57.3pp47.9%▲ 83.4pp-13.1%▼ 60.9pp3.8%▲ 16.9pp
Equity-€76,616--€82,606▼ 7.8%-€77,660below the sector's middle half▲ 6.0%-€79,014below the sector's middle half▼ 1.7%-€78,349below the sector's middle half▲ 0.8%-€78,901below the sector's middle half▼ 0.7%-€83,452below the sector's middle half▼ 5.8%-€87,512below the sector's middle half▼ 4.9%
Total assets€6,190-€1,241▼ 79.9%€4,550below the sector's middle half▲ 267%€4,908below the sector's middle half▲ 7.9%€4,256below the sector's middle half▼ 13.3%€8,100below the sector's middle half▲ 90.3%€8,667below the sector's middle half▲ 7.0%€8,465below the sector's middle half▼ 2.3%
Debt€82,805-€83,847▲ 1.3%€82,210▼ 2.0%€83,921▲ 2.1%€82,605▼ 1.6%€87,001▲ 5.3%€92,119▲ 5.9%€95,977▲ 4.2%
Working capital-€76,616--€2,606▲ 96.6%€2,340within the sector's middle half€986within the sector's middle half▼ 57.9%€1,651within the sector's middle half▲ 67.4%€1,099within the sector's middle half▼ 33.4%-€3,452within the sector's middle half-€7,512below the sector's middle half▼ 118%
Solvency-974.1%below the sector's middle half-962.9%below the sector's middle half▲ 11.2pp
Current ratio0.07-1.16within the sector's middle half0.72below the sector's middle half▼ 0.440.53below the sector's middle half▼ 0.19
Return on assets (ROA)21.9%--6.8%below the sector's middle half-52.5%below the sector's middle half▼ 45.7pp-48.0%below the sector's middle half▲ 4.6pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €3,865, smaller than the loss of €4,477 in 2024.
Key figures and ratios
Debt ≤ 1 year
€15,977▲
2024 · €12,119
Debt > 1 year
€80,000=
2024 · €80,000
Staff costs
€30,348▼
2024 · €31,245
A ratio outside any meaningful range has been withheld (balance sheet total €8,465, equity -€87,512).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €9,321 | €14,450 | €10,444 | €10,057 | €18,450 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €561 | €295 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €10,323 | €18,526 | €23,852 | €31,245 | €30,348 | ▼ 2.9% |
| Other operating charges640/8 | - | - | - | €497 | €410 | €446 | €387 | €462 | ▲ 19.2% |
| Gross operating margin9900 | €5,896 | €13,464 | €11,303 | €9,507 | €19,645 | €23,437 | €27,155 | €26,944 | ▼ 0.8% |
| Operating profit (loss)9901 | €2,031 | -€5,132 | €5,000 | -€1,314 | €710 | -€862 | -€4,477 | -€3,865 | ▲ 13.7% |
| Financial income75/76B | - | - | - | €4 | - | €355 | €0 | - | - |
| Recurring financial income75 | - | €1,075 | - | €4 | - | €355 | €0 | - | - |
| Financial charges65/66B | - | - | - | €45 | €45 | €45 | €75 | €195 | ▲ 159% |
| Recurring financial charges65 | €42 | €1,885 | €54 | €45 | €45 | €45 | €75 | €195 | ▲ 159% |
| Profit (loss) for the period before taxes9903 | €1,989 | -€5,942 | €4,946 | -€1,354 | €665 | -€551 | -€4,552 | -€4,060 | ▲ 10.8% |
| Income taxes67/77 | €635 | €48 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €1,354 | -€5,990 | €4,946 | -€1,354 | €665 | -€551 | -€4,552 | -€4,060 | ▲ 10.8% |
| Profit (loss) for the period to be appropriated9905 | €1,354 | -€5,990 | €4,946 | -€1,354 | €665 | -€551 | -€4,552 | -€4,060 | ▲ 10.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €6,190 | €1,241 | €4,550 | €4,908 | €4,256 | €8,100 | €8,667 | €8,465 | ▼ 2.3% |
| Current assets29/58 | €6,190 | €1,241 | €4,550 | €4,908 | €4,256 | €8,100 | €8,667 | €8,465 | ▼ 2.3% |
| Amounts receivable within one year40/41 | €3,911 | €726 | €83 | €4,285 | €3,057 | €6,135 | €6,294 | €6,294 | = |
| Trade receivables40 | - | - | - | €4,285 | €3,057 | €5,070 | €5,070 | €5,070 | = |
| Other amounts receivable41 | - | - | - | - | - | €1,065 | €1,224 | €1,224 | = |
| Cash at bank and in hand54/58 | €2,279 | €515 | €4,467 | €623 | €967 | €1,966 | €1,495 | €1,283 | ▼ 14.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €232 | - | €878 | €888 | ▲ 1.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €6,190 | €1,241 | €4,550 | €4,908 | €4,256 | €8,100 | €8,667 | €8,465 | ▼ 2.3% |
| Equity10/15 | -€76,616 | -€82,606 | -€77,660 | -€79,014 | -€78,349 | -€78,901 | -€83,452 | -€87,512 | ▼ 4.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €19,300 | €19,300 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €18,600 | - | - | - |
| Other1109/19 | - | - | - | - | - | €18,600 | - | - | - |
| Reserves13 | €755 | €755 | €755 | €755 | €755 | €755 | €55 | €55 | = |
| Non-distributable reserves130/1 | - | - | - | €700 | €700 | - | - | €55 | - |
| Legal reserve130 | - | - | - | €700 | €700 | - | - | - | - |
| Other1319 | - | - | - | - | - | - | - | €55 | - |
| Distributable reserves133 | - | - | - | €55 | €55 | €755 | €55 | - | - |
| Profit (loss) carried forward14 | -€95,971 | -€101,961 | -€97,015 | -€98,369 | -€97,704 | -€98,256 | -€102,808 | -€106,868 | ▼ 3.9% |
| Amounts payable17/49 | €82,805 | €83,847 | €82,210 | €83,921 | €82,605 | €87,001 | €92,119 | €95,977 | ▲ 4.2% |
| Amounts payable after more than one year17 | - | €80,000 | €80,000 | €80,000 | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Other amounts payable178/9 | - | - | - | €80,000 | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Amounts payable within one year42/48 | €82,805 | €3,847 | €2,210 | €3,921 | €2,605 | €7,001 | €12,119 | €15,977 | ▲ 31.8% |
| Trade debts44 | €614 | €628 | €676 | €0 | €0 | - | €165 | €1,636 | ▲ 891% |
| Suppliers440/4 | - | - | - | - | - | - | €165 | €1,636 | ▲ 891% |
| Taxes, remuneration and social security45 | - | - | - | €2,213 | €897 | €4,358 | €9,311 | €6,165 | ▼ 33.8% |
| Taxes450/3 | - | - | - | €1,539 | €897 | €3,042 | €4,959 | €1,704 | ▼ 65.6% |
| Remuneration and social security454/9 | - | - | - | €675 | - | €1,316 | €4,353 | €4,462 | ▲ 2.5% |
| Other amounts payable47/48 | - | - | - | €1,708 | €1,708 | €2,643 | €2,643 | €8,176 | ▲ 209% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,354 | -€5,990 | €4,946 | -€1,354 | €665 | -€551 | -€4,552 | -€4,060 | ▲ 10.8% |
| Operating cash flow (approximation) | €1,354 | -€5,990 | €4,946 | -€1,354 | €665 | -€551 | -€4,552 | -€4,060 | ▲ 10.8% |
| Change in cash | - | -€1,764 | €3,952 | -€3,844 | €344 | €999 | -€471 | -€212 | ▲ 55.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as Polymation has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Polymation itself is lower: 0.6% within 12 months. It rests on far more data about Polymation than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for Polymation. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-09-2026 | 2026-00511527 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00379309 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00410421 | |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00352762 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20203517 | |
| 31-12-2020 | micro format | 16-09-2021 | 2021-67300060 | |
| 31-12-2019 | micro format | 27-11-2020 | 2020-72200104 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-50900083 | |
| 31-12-2017 | micro format | 19-07-2018 | 2018-34400506 | |
| 31-12-2016 | micro format | 14-07-2017 | 2017-30800490 |