Polymorf
ActiveSummary
Polymorf has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of -€148,789. Equity is growing by ~11.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▼-2
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
Liquidity ample (current ratio 15.42 against 95.07 in 2024; short-term debt: 0.8% and cash: 3.9% of total assets), and 14.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
85.3%
Return on assets
-5.8%
Age of the figures
9 mo
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 -€148,789
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 03-06-2026, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
58 d early
2024
65 d early
2023
54 d early
2022
52 d early
2021
52 d early
2020
53 d early
2019
49 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 55 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.2m▼ 6.4%
2024 · €2.3m
Total assets
€2.6m▼ 5.9%
2024 · €2.7m
Net result
-€148,789▼ 9.6%
2024 · -€135,744
Working capital
€283,674▼ 50.3%
2024 · €571,110
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1.6m-€145,466-€160,532▼ 10.4%-€153,238▲ 4.5%-€178,722▼ 16.6%
Net result€1.2m-€97,595-€114,172▼ 17.0%-€135,744▼ 18.9%-€148,789▼ 9.6%
Equity€2.7m▲ 78.4%€2.6m▼ 3.6%€2.5m▼ 4.4%€2.3m▼ 5.5%€2.2m▼ 6.4%
Total assets€3.1m▲ 26.1%€3.0m▼ 3.9%€2.9m▼ 4.6%€2.7m▼ 5.6%€2.6m▼ 5.9%
Debt€10,388▼ 98.9%€9,769▼ 6.0%€10,811▲ 10.7%€11,071▲ 2.4%€25,130▲ 127%
Working capital€671,392€640,555▼ 4.6%€621,897▼ 2.9%€571,110▼ 8.2%€283,674▼ 50.3%
Staff (FTE)0
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 €178,722 in 2025 against €153,238 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.3m ▲ 5.3%
Current assets
€303,340 ▼ 47.4%
Equity and liabilities €2.6m
Equity
€2.2m ▼ 6.4%
Provisions
€350,638 ▼ 6.6%
Debt
€25,130 ▲ 127%
Debt's share of the balance-sheet total rises from 0.4% to 1.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€14,100▲
2024 · -€29,178
Cash flow
€15,833▲
2024 · -€11,684
Current ratio
15.42▼
2024 · 95.07
Debt to equity
0.01▲
2024 · 0.00
ROE
-6.8%▼
2024 · -5.8%
ROA
-5.8%▼
2024 · -5.0%
Interest coverage
-18.97▼
2024 · -1.02
Debt ≤ 1 year
€19,666▲
2024 · €6,071
Debt > 1 year
€5,000=
2024 · €5,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,594 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €142,761 | €122,499 | €123,191 | €124,060 | €164,622 | ▲ 32.7% |
| Other operating charges640/8 | €26,163 | €20,062 | €22,494 | €24,011 | €25,496 | ▲ 6.2% |
| Gross operating margin9900 | €1.8m | -€2,905 | -€14,847 | -€5,168 | €11,396 | ▲ 321% |
| Operating profit (loss)9901 | €1.6m | -€145,466 | -€160,532 | -€153,238 | -€178,722 | ▼ 16.6% |
| Financial income75/76B | €3,062 | €23,456 | €21,660 | €21,211 | €5,743 | ▼ 72.9% |
| Recurring financial income75 | €3,062 | €23,456 | €21,660 | €21,211 | €5,743 | ▼ 72.9% |
| Financial charges65/66B | €36,441 | €518 | €233 | €28,650 | €743 | ▼ 97.4% |
| Recurring financial charges65 | €36,441 | €518 | €233 | €28,650 | €743 | ▼ 97.4% |
| Profit (loss) for the period before taxes9903 | €1.6m | -€122,528 | -€139,105 | -€160,677 | -€173,722 | ▼ 8.1% |
| Transfer from deferred taxes780 | €42,052 | €24,933 | €24,933 | €24,933 | €24,933 | = |
| Transfer to deferred taxes680 | €436,244 | - | - | - | - | - |
| Profit (loss) for the period9904 | €1.2m | -€97,595 | -€114,172 | -€135,744 | -€148,789 | ▼ 9.6% |
| Transfer from tax-exempt reserves789 | €126,156 | €74,800 | €74,800 | €74,800 | €74,800 | = |
| Transfer to tax-exempt reserves689 | €1.3m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€4,351 | -€22,795 | -€39,372 | -€60,944 | -€73,989 | ▼ 21.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €3.0m | €2.9m | €2.7m | €2.6m | ▼ 5.9% |
| Fixed assets21/28 | €2.5m | €2.4m | €2.3m | €2.1m | €2.3m | ▲ 5.3% |
| Tangible fixed assets22/27 | €2.5m | €2.4m | €2.2m | €2.1m | €2.3m | ▲ 5.3% |
| Land and buildings22 | €2.5m | €2.4m | €2.2m | €2.1m | €2.3m | ▲ 5.3% |
| Furniture and vehicles24 | €994 | - | - | - | - | - |
| Financial fixed assets28 | €5,716 | €5,716 | €5,000 | €0 | - | - |
| Current assets29/58 | €676,780 | €645,324 | €627,708 | €577,181 | €303,340 | ▼ 47.4% |
| Stocks and contracts in progress3 | €27,479 | €23,639 | €0 | - | - | - |
| Stocks30/36 | €27,479 | €23,639 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €477,491 | €486,678 | €400,928 | €1,928 | €1,723 | ▼ 10.6% |
| Trade receivables40 | €878 | €10,065 | €8,772 | €0 | - | - |
| Other amounts receivable41 | €476,613 | €476,613 | €392,156 | €1,928 | €1,723 | ▼ 10.6% |
| Current investments50/53 | - | - | €150,000 | €450,000 | €200,000 | ▼ 55.6% |
| Cash at bank and in hand54/58 | €171,811 | €135,007 | €76,780 | €124,362 | €100,871 | ▼ 18.9% |
| Deferred charges and accrued income490/1 | - | - | - | €892 | €746 | ▼ 16.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €3.0m | €2.9m | €2.7m | €2.6m | ▼ 5.9% |
| Equity10/15 | €2.7m | €2.6m | €2.5m | €2.3m | €2.2m | ▼ 6.4% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Capital10 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Issued capital100 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €1.5m | €1.4m | €1.3m | €1.3m | €1.1m | ▼ 15.4% |
| Non-distributable reserves130/1 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Legal reserve130 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Tax-exempt reserves132 | €1.4m | €1.3m | €1.2m | €1.1m | €1.1m | ▼ 6.6% |
| Distributable reserves133 | €119,325 | €119,325 | €119,325 | €119,325 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€426,189 | -€448,983 | -€488,355 | -€549,299 | -€503,962 | ▲ 8.3% |
| Provisions and deferred taxes16 | €450,371 | €425,438 | €400,505 | €375,572 | €350,638 | ▼ 6.6% |
| Deferred taxes168 | €450,371 | €425,438 | €400,505 | €375,572 | €350,638 | ▼ 6.6% |
| Amounts payable17/49 | €10,388 | €9,769 | €10,811 | €11,071 | €25,130 | ▲ 127% |
| Amounts payable after more than one year17 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Financial debts170/4 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Amounts payable within one year42/48 | €5,388 | €4,769 | €5,811 | €6,071 | €19,666 | ▲ 224% |
| Trade debts44 | €1,248 | €1,320 | €3,326 | €2,615 | €16,208 | ▲ 520% |
| Suppliers440/4 | €1,248 | €1,320 | €3,326 | €2,615 | €16,208 | ▲ 520% |
| Advances received on contracts in progress46 | €2,196 | €2,891 | €2,485 | €3,331 | €3,364 | ▲ 1.0% |
| Taxes, remuneration and social security45 | €1,944 | €558 | €0 | €125 | €94 | ▼ 25.0% |
| Taxes450/3 | €1,944 | €558 | €0 | €125 | €94 | ▼ 25.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €464 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.2m | -€97,595 | -€114,172 | -€135,744 | -€148,789 | ▼ 9.6% |
| + Depreciation and write-downs630 | €142,761 | €122,499 | €123,191 | €124,060 | €164,622 | ▲ 32.7% |
| Operating cash flow (approximation) | €1.3m | €24,904 | €9,020 | -€11,684 | €15,833 | ▲ 236% |
| Investment in fixed assets (approximation) | - | -€30,809 | -€2,744 | -€14,170 | -€278,800 | ▼ 1,868% |
| Change in cash | - | -€36,804 | -€58,227 | €47,582 | -€23,491 | ▼ 149% |
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
03-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €1.2m
Net result €1.2m after one loss-making year.
31-12
Financial
Liquidity times 976current ratio 125.61
Current ratio from 0.13 to 125.61; short-term debt falls from €911,902 to €5,388.
31-12
Financial
Equity above €2mEq €2.7m ▲78.4%
Equity rises from €1.5m to €2.7m.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€322,514
Net result drops to -€322,514, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 52current ratio 29.73
Current ratio from 0.57 to 29.73; short-term debt falls from €55,367 to €21,808.
Show earlier events
31-12
Financial
Equity above €1mEq €1.1m ▲340%
2 profitable years in a row build equity to €1.1m.
14-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Asse · 1 establishment unit since 1998
Ground area
1,353 m²
Building footprint
201 m²
Volume, LiDAR
1,025 m³
Parcel 23322C0244/00D000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
Polymorf
since 19982.005.107.190
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23322C0244/00D000 | Flanders | 1,353 m² | 1 · 201 m² | 8.5 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.
Identification & contact
Identification
Legal formPublic limited company
Founded12-09-1968
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0403844553
Also
9925:BE0403844553
Registered
20-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.