POLYPANE GLASINDUSTRIE
ActivePOLYPANE GLASINDUSTRIE has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.43M and a net result of €363k. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 52% of 285 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
78
/ 100
Excellent▼ -22 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability26▼-44
Solvency93▼-1
Growth66▼-1
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity ample (current ratio 2.75 against 2.58 in 2024), but 52.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
47.6%
Return on assets
2.3%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Sector 23
lower
← fewer bankruptcies
more bankruptcies →
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
30 d early
2023
42 d early
2022
32 d early
2021
20 d early
2020
22 d early
2019
32 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€30.85M▼ 3.1%
2024 · €31.82M
2018: €25.45M
2019: €27.99M
2020: €26.66M
2021: €26.21M
2022: €34.87M
2023: €34.33M
2024: €31.82M
2018 → 2025
EBIT margin
1.4%▼ 6.4pp
2024 · 7.9%
2018: 0.3%
2019: -1.1%
2020: 3.4%
2021: 0.0%
2022: -0.4%
2023: 3.7%
2024: 7.9%
2018 → 2025
Net result
€363k▼ 80.0%
2024 · €1.82M
2018: €158k
2019: €-155k
2020: €760k
2021: €54k
2022: €-93k
2023: €901k
2024: €1.82M
2018 → 2025
Working capital
€7.76M▼ 2.6%
2024 · €7.97M
2018: €6.83M
2019: €6.76M
2020: €7.08M
2021: €6.56M
2022: €7.18M
2023: €7.40M
2024: €7.97M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€26.21M-€34.87M▲ 33.1%€34.33M▼ 1.6%€31.82M▼ 7.3%€30.85M▼ 3.1%
Equity€6.73M-€6.63M▼ 1.4%€6.67M▲ 0.7%€7.47M▲ 12.0%€7.43M▼ 0.6%
Operating result€-6k-€-150k▼ 2,332%€1.29M€2.50M▲ 94.4%€433k▼ 82.7%
Net result€54k-€-93k€901k€1.82M▲ 102%€363k▼ 80.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 83% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.60M
Fixed assets
€3.40M▲ 31.7%
Current assets
€12.21M▼ 6.2%
Equity and liabilities €15.60M
Equity
€7.43M▼ 0.6%
Provisions
€385k▼ 46.2%
Debt
€7.79M▲ 5.2%
The debt ratio rises from 47.5% to 49.9%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€1.48M▼
2024 · €3.61M
Cash flow
€1.41M▼
2024 · €2.93M
Solvency
47.6%▼
2024 · 47.9%
Current ratio
2.75▲
2024 · 2.58
Quick ratio
2.14▲
2024 · 2.07
Debt / equity
1.05▲
2024 · 0.99
ROE
4.9%▼
2024 · 24.3%
ROA
2.3%▼
2024 · 11.7%
Interest coverage
19.17▼
2024 · 49.37
Debt
€7.79M▲
2024 · €7.41M
Debt ≤ 1 year
€4.44M▼
2024 · €5.05M
Debt > 1 year
€2.95M▲
2024 · €2.31M
Income taxes
€147k▼
2024 · €649k
Staff costs
€8.73M▲
2024 · €8.45M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€15.60M€15.60M=
Fixed assets21/28€2.58M€3.40M▲
Intangible fixed assets21€41k€28k▼
Tangible fixed assets22/27€2.53M€3.36M▲
Plant, machinery and equipment23€1.28M€2.68M▲
Furniture and vehicles24€393k€417k▲
Leasing and similar rights25€453k€260k▼
Assets under construction and advance payments27€407k-
Financial fixed assets28€11k€13k▲
Companies linked by participating interests282/3€6k€6k=
Participating interests282€6k€6k=
Other financial fixed assets284/8€6k€8k▲
Amounts receivable and cash guarantees285/8€6k€8k▲
Current assets29/58€13.02M€12.21M▼
Stocks and contracts in progress3€2.54M€2.72M▲
Stocks30/36€2.54M€2.72M▲
Raw materials and consumables30/31€1.65M€1.97M▲
Work in progress32€29k€22k▼
Finished goods33€863k€725k▼
Amounts receivable within one year40/41€7.38M€7.94M▲
Trade receivables40€7.19M€7.85M▲
Other amounts receivable41€186k€86k▼
Current investments50/53€1.00M-
Other investments51/53€1.00M-
Cash at bank and in hand54/58€2.00M€1.46M▼
Deferred charges and accrued income490/1€98k€86k▼
Equity and liabilities
Total equity and liabilities10/49€15.60M€15.60M=
Equity10/15€7.47M€7.43M▼
Contributions10/11€613k€613k=
Capital10€613k€613k=
Issued capital100€613k€613k=
Reserves13€6.84M€6.81M▼
Non-distributable reserves130/1€61k€61k=
Legal reserve130€61k€61k=
Tax-exempt reserves132€36k€36k=
Distributable reserves133€6.75M€6.71M▼
Investment grants15€17k€10k▼
Provisions and deferred taxes16€715k€385k▼
Provisions for liabilities and charges160/5€715k€385k▼
Other liabilities and charges164/5€715k€385k▼
Amounts payable17/49€7.41M€7.79M▲
Amounts payable after more than one year17€2.31M€2.95M▲
Financial debts170/4€2.31M€2.95M▲
Leasing and similar obligations172€295k€160k▼
Credit institutions173€1.42M€2.29M▲
Other loans174€600k€500k▼
Amounts payable within one year42/48€5.05M€4.44M▼
Current portion of amounts payable after more than one year42€740k€826k▲
Trade debts44€1.81M€1.75M▼
Suppliers440/4€1.81M€1.75M▼
Advances received on contracts in progress46€78k€24k▼
Taxes, remuneration and social security45€1.33M€1.29M▼
Taxes450/3€282k€156k▼
Remuneration and social security454/9€1.05M€1.14M▲
Other amounts payable47/48€1.09M€550k▼
Accrued charges and deferred income492/3€48k€398k▲
Income statement
Code20242025
Operating income70/76A€32.51M€31.39M▼
Turnover70€31.82M€30.85M▼
Change in stocks of work in progress, finished goods and contracts in progress71€65k€-102k▼
Other operating income74€624k€643k▲
Operating charges60/66A€30.01M€30.96M▲
Goods for resale, raw materials and consumables60€15.45M€15.65M▲
Purchases600/8€15.29M€15.98M▲
Change in stocks: decrease (increase)609€160k€-333k▼
Services and other goods61€4.88M€5.12M▲
Remuneration, social security and pensions62€8.45M€8.73M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.11M€1.05M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-74k€74k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€54k€-330k▼
Other operating charges640/8€146k€673k▲
Operating profit (loss)9901€2.50M€433k▼
Financial income75/76B€129k€243k▲
Recurring financial income75€129k€243k▲
Income from current assets751€9k€10k▲
Other financial income752/9€120k€233k▲
Financial charges65/66B€164k€166k▲
Recurring financial charges65€164k€166k▲
Debt charges650€73k€77k▲
Other financial charges652/9€91k€89k▼
Profit (loss) for the period before taxes9903€2.46M€510k▼
Transfer from deferred taxes780€2k-
Income taxes67/77€649k€147k▼
Taxes670/3€683k€153k▼
Tax adjustments and reversals of tax provisions77€34k€6k▼
Profit (loss) for the period9904€1.82M€363k▼
Transfer from tax-exempt reserves789€6k-
Profit (loss) for the period to be appropriated9905€1.82M€363k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.82M€363k▼
Transfer from equity791/2-€37k
From reserves792-€37k
Transfer to equity691/2€814k-
To other reserves6921€814k-
Profit to be distributed694/7€1.01M€400k▼
Return on contributions (dividend)694€950k€400k▼
Directors or managers695€60k-
Social balance
Average headcount (FTE)9087148.3143.7▼
The notes to these accounts (70 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-09
State Gazette act
General meeting · Director resignationGeneral meeting · Director resignation · Director reappointment7 facts ▸
State Gazette act
General meeting · Director resignation
General meeting · Director resignation · Director reappointment7 facts ▸
- General meeting, 2026-06-05
- Director resignation, Marianne DE GEEST (bestuurder)
- Director reappointment, Franky SYMOENS (bestuurder)
- Permanent representative, Marleen DEFOER
- Permanent representative, Brecht DEKETELE
- Board meeting, 2026-06-05
- Director reappointment, Franky SYMOENS (gedelegeerd bestuurder)
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €1.82M ▲102%
Operating result €2.50M, net result €1.82M, both a record.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €901k
Net result €901k after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €760k
Net result €760k after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-155k ▼198%
Net result drops to €-155k, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
Franky SYMOENS
CurrentManaging director · since 05-06-2026
05-06-2026
Franky SYMOENS: Mandate renewed as Managing director
05-06-2026
Franky SYMOENS: Mandate renewed as Director
05-06-2026
Marianne DE GEEST: Resigned as Director
Location & real-estate footprint
Registered office, Sint-Niklaas · 3 establishment units since 1973
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.
Industriepark-Noord 319100 Sint-NiklaasGround area
4.8 ha
Building footprint
2.2 ha
Volume, LiDAR
202,744 m³
3 parcels, Flanders · tallest building 12.7 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
Industriepark-Noord 31, 9100 Sint-Niklaas
since 19732.007.743.711
Nederlandstraat 5, 9140 Temse
since 20002.165.288.636
Winninglaan 2, 9140 Temse
since 20142.231.884.381
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B0179/02E000 | Flanders | 3.0 ha | 1 · 1.4 ha | 11.0 m · 3 fl. |
| 46442C0658/00C000 | Flanders | 1.2 ha | 1 · 5,734 m² | 12.7 m · 3 fl. |
| 46025B0387/00B000 | Flanders | 5,609 m² | 1 · 2,818 m² | 9.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
2 connected companiesLinked via shared directors
viaFranky SYMOENS · Vice président du conseil d'administration
→
viaFranky SYMOENS · Director
→
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 15,437 EUR awarded · 15,432 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,413 EUR | 2,413 EUR |
| 2024 | 2 | 5,459 EUR | 5,454 EUR |
| 2023 | 2 | 1,764 EUR | 1,764 EUR |
| 2022 | 4 | 5,801 EUR | 5,801 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Recognitions · licences · registrations
Recognised contractor
1 categoryPOLYPANE GLASINDUSTRIE NV04836
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Of 101 companies in sector 23120 we hold annual accounts for 55. 22 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-12-1972
Fiscal year end31-12
Activities, NACEBEL
23120Manufacture of other non-metallic mineral products
23150Manufacture of other non-metallic mineral products
23190Manufacture of other non-metallic mineral products
43343Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:03/710.90.00