POLYMORPHE · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of POLYMORPHE is 1.0% (low). The 2022 annual accounts show negative equity (€-93k) and a net result of €-32k. Equity is shrinking by ~41.6% per year across the filed fiscal years. Its solvency ranks better than 8% of 772 sector peers (fiscal year 2022). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.0% Low

0%0,5%1,5%4%10%≥25%

Annual accounts: weaker financial profile +Lower-failure-rate sector −Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

Insufficient current data: the most recent filed accounts (financial year 2022) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2023 was due at the National Bank by 31-07-2024. Nothing is on record today, 759 days later. 3 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 06-11-2023, 98 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2022, that is 31-07-2023.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	nothing on record	not filed	-
31-12-2022	31-07-2023	06-11-2023	98 d late	2023-00510558
31-12-2021	31-07-2022	15-06-2023	319 d late	2023-00141927
31-12-2020	31-07-2021	28-10-2021	89 d late	2021-73600389
31-12-2019	31-07-2020	18-06-2020	43 d early	2020-17600525
31-12-2018	31-07-2019	31-07-2019	on the day	2019-40600347
31-12-2017	31-07-2018	27-08-2018	27 d late	2018-53000495
31-12-2016	31-07-2017	22-08-2017	22 d late	2017-48100387
31-12-2015	31-07-2016	06-06-2016	55 d early	2016-16500051
31-12-2014	31-07-2015	27-08-2015	27 d late	2015-53000132

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2012, 13 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-32k-1489.2%

Working capital€-108k-50.7%

CSV export

Annual accounts & ratios

Source: NBB · 2022

Annual accounts filed on 06-11-2023 with the NBB · fiscal year 2022 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~41.6%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2022 · NACE 74 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-47.5%	42.9%	better than 8% of 772 sector peers
Net result	€-32k	€10k	better than 5% of 773 sector peers
Equity	€-93k	€22k	better than 5% of 773 sector peers
Gross operating margin	€57k	€22k	better than 75% of 773 sector peers
Staff costs	€69k	€21k	higher than 83% of 131 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P8

Stable position over 2020-2022 · n=145-772

Net result P5

Stable position over 2020-2022 · n=145-773

Equity P5

Stable position over 2020-2022 · n=145-773

Gross operating margin P75

Stable position over 2020-2022 · n=144-773

Describes the position versus peers, not a forecast.

EBITDA

€-17k

- 18-22

Net profit

€-32k

-1489.2% 18-22

Cash flow

€-23k

- 18-22

Total assets

€196k

+28.0% 18-22

Equity

€-93k

-51.4% 18-22

Working capital

€-108k

-50.7% 18-22

Employees (FTE)

4

+26.7% 18-22

Staff costs

€69k

+21.6% 18-22

Show 10 other metrics

Debt

€288k

+34.7% 18-22

Debt ≤ 1y

€196k

+73.9% 18-22

Debt > 1y

€92k

-9.0% 18-22

Current ratio

0.45

+23.2% 18-22

Quick ratio

0.45

+23.2% 18-22

Solvency

-47.5%

-18.2% 18-22

Debt / equity

-3.10

+11.0% 18-22

ROE

34.0%

+949.6% 18-22

ROA

-16.1%

-1141.1% 18-22

Interest coverage

-3.08

- 18-22

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2022
Deposit	micro
Revenue	-
EBITDA	€-17k
Net profit	€-32k
Cash flow	€-23k
Staff costs	€69k
Income taxes	-
Dividends	-
Total assets	€196k
Equity	€-93k
Debt	€288k
of which ≤ 1y	€196k
of which > 1y	€92k
Working capital	€-108k
Employees (FTE)	3.8

Ratios (computed)

	2022
Current ratio	0.45
Quick ratio	0.45
Working capital ratio	-55.3%
Solvency	-47.5%
Debt / equity	-3.10
Long-term debt ratio	-0.99
Interest coverage	-3.08
Gross margin	-
Net margin	-
ROA	-16.1%
ROE	34.0%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2022

Assets

Fixed assets €107k · 54.9% Current assets €88k · 45.2%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€196k
Fixed assets	21/28	€107k
Tangible fixed assets	22/27	€105k
Financial fixed assets	28	€2k
Current assets	29/58	€88k
Amounts receivable within one year	40/41	€74k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€196k
Equity	10/15	€-93k
Contributions / capital	10/11	€19k
Reserves	13	€27
Accumulated profits (losses)	14	€-112k
Amounts payable	17/49	€288k
Amounts payable after one year	17	€92k
Amounts payable within one year	42/48	€196k
Trade debts payable within one year	44	€80k
Income statement
Gross operating margin	9900	€57k
Operating result	9901	€-25k
Financial charges	65	€6k
Result before taxes	9903	€-32k
Net result for the period	9904	€-32k
Result to be appropriated	9905	€-32k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2022 · computed

7 / 100 Critical

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2022. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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 Joseph-Halkin 554000 Liège

Establishment units

1 location

POLYMORPHE

Rue Joseph-Halkin 55, 4000 LiègeVervaardiging van geconfectioneerde stofferingsartikelen : gordijnen, bedgordijnen, rolgordijnen, meubelhoezen, enz

since 20122.214.547.612

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 4 acts read

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.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured

54 / 100

Mixed profile: strong on profitability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 7

Profitability 100

Solvency 33

Growth 32

Stability 100

Credit advice

verdict per customer and amount

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We hold annual accounts for 117 of the 1,455 companies in this sector. 95 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Activiteiten van interieurdecorateurs74104Interieurontwerp74130Vervaardiging van kantoor- en winkelmeubelen31001Schilderen van gebouwen43341Overige werkzaamheden in verband met de afwerking van gebouwen43350Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts71121

Primary activity highlighted.

Names & trade names

Legal nameFR

POLYMORPHE

Registered office

Rue Joseph-Halkin 55

4000 Liège, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.