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POLYPHONIC

Active Private limited companyfounded 1987active for 39 yearsRue Gillot 115, 6061 CharleroiKBO/BCE: BE 0432.250.905
POLYPHONIC
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Overview

Lifetime

20 annual accounts with figures on one time axis, 38 filings since 1988
peak €344,175 (2023)
€317,271▲ 3.2%
lowest -€50,311 (2019)
€35,669▲ €59,118
peak €251,496 (2013)
€128,792▲ 38.3%
€427,906▼ 20.7%
peak 7.5 FTE (2009)
-not published
Board1 name since 2021
1 directorEtienne FLEMAL
Documentsfilings and deeds
30-09-202661 days late
2025abbreviated format
Back to profit: €35,669Equity from €93,123 to €128,792Debts from €539,776 to €427,906Cash from €2,961 to €4,826

Key points

from the 2025 annual accounts

Equity

€128,792 from €251,496 in 2013

Equity fell by 49% in 12 years.

Result

€35,669 €35,669
-€23,4002024€35,7002025

Back in profit in 2025, after a loss of €23,449 in 2024.

Debts

€427,906 77% of the balance sheet
Financial debts 31%Suppliers 23%Taxes and wages 5%Other 41%

Of this, €395,457 falls due within a year.

Staff

4.6 FTE from 7.5 in 2009

Between 2009 and 2025, 39% of the full-time equivalents disappeared.

Payment terms

61 days to suppliers
Suppliers
144 to 61
Customers
55 to 17

POLYPHONIC pays its suppliers 83 days earlier than in 2024. Customers pay 38 days earlier.

Filings

38 annual accounts 61 days
AprilJune31 JulyOctober1990200020102020

Latest accounts filed late: after the legal deadline.

Checked score

65
Healthy
Financially stronger than 33% of micro companies in fabricated metal products (NACE 25)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.5% across 3,710 companies (NACE 25, micro).

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.7% 01-2025: 0.7%● unchanged vs 12-2024lowest value 02-2025: 0.8%▲ +0.1 percentage points vs 01-2025 03-2025: 0.8%● unchanged vs 02-2025 04-2025: 0.8%● unchanged vs 03-2025 05-2025: 0.8%● unchanged vs 04-2025 06-2025: 0.8%● unchanged vs 05-2025 07-2025: 1.1%▲ +0.3 percentage points vs 06-2025 08-2025: 1.6%▲ +0.5 percentage points vs 07-2025 09-2025: 1.8%▲ +0.2 percentage points vs 08-2025 10-2025: 2.1%▲ +0.3 percentage points vs 09-2025 11-2025: 1.3%▼ -0.8 percentage points vs 10-2025 12-2025: 1.3%● unchanged vs 11-2025 01-2026: 1.3%● unchanged vs 12-2025 02-2026: 1.3%● unchanged vs 01-2026 03-2026: 1.3%● unchanged vs 02-2026 04-2026: 1.3%● unchanged vs 03-2026 05-2026: 1.3%● unchanged vs 04-2026 06-2026: 1.3%● unchanged vs 05-2026 07-2026: 1.3%● unchanged vs 06-2026 08-2026: 2.0%▲ +0.7 percentage points vs 07-2026 09-2026: 2.3%▲ +0.3 percentage points vs 08-2026highest value 10-2026: 1.1%▼ -1.2 percentage points vs 09-2026 11-2026: 1.1%● unchanged vs 10-2026

Financial strength
Weak

48+8equity 23.1% of total assets
13+8short-term debt 71.0% · cash 0.9%
62+38return on assets 6.4%

Score breakdown

raises risk
Last filed accounts filed 61 days late; 2 of the last 3 accounts late
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
lowers risk
Founded in 1987
Size: turnover €912,138, total assets €556,698
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, micro). It does better than 26% of them on solvency, 7% on liquidity, 30% on profitability and 70% on growth.

The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 3,818 companies had the same profile as POLYPHONIC has now. Each dot stands for 10 companies, two years later.

95.1%
were still trading
3.7%
stopped another way
1.0%
went bankrupt
  • Micro
  • 20 years or older
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of POLYPHONIC itself: 1.1% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 3,818 companies, not a prediction for POLYPHONIC. 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.

Credit verdict

Credit of up to €8,000 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.11 (0.94 in 2024), below the usual 1.5. Short-term debt is 71% and cash 0.9% of total assets. 76.9% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Seven signals.
lowers riskraises risk
raises risk · Last filed accounts filed 61 days late; 2 of the last 3 accounts late
NBB · filings
raises risk · Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
KBO
lowers risk · Founded in 1987
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Size: turnover €912,138, total assets €556,698
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 1245 sector peers (2025).
NBB · sector comparison
Position among 1245 sector peers
Solvency
better than 22%
← weakest strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €128,792
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
61 days late
2024
61 days late
2023
26 days late
2022
60 days late
2021
52 days late
2020
58 days late
2019
109 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 61 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

EF
Etienne FLEMAL
Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0432250905
Legal-form change · Resignations & appointments Resignation: Etienne FLEMAL (manager) · Reappointment: Etienne FLEMAL (director) · Permanent representative: Etienne FLEMAL · General meeting of 29-10-2024 · Gazette deed
First establishment Rue Gillot 115, Charleroi
Incorporation published on 10-11-1987 · Gazette deed
All 49 events

Comparable companies

same main activity, similar in size and age
Company
POLYPHONIC Charleroi €912,138 5.9% 23.1% -
INVULNERABLE Colfontaine - - 60.8% -
FALK CULINAIR Haacht - - 51.2% 5.4
EURO METAL COAT Lanaken - - 45.9% 8.7
AERTS METALEN Zonhoven - - 57.8% -
FINANCIERE CONSTRUCTIONS BELGES Etterbeek - - 86.3% 0
VANOR ET CIE Anderlues €656,136 -43.7% 55.8% 12.8
-10%0%10%20%€1m€10m€100m€1bnPOLYPHONICEBIT margin

Grey: the largest companies of the sector (fabricated metal products (NACE 25)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as POLYPHONIC: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €442,000 and €693,000, founded between 1989 and 1993.

Official details

Source: KBO
Status
Active since 22-10-1987Normal situation
Activity
Manufacture of metal structures and parts of structuresNACE 25110and 1 other
Joint committees
126Furnishing and woodworking
149.01Electricians: installation and distribution
201Independent retail · annual accounts 2025
Establishment unit
2.031.252.8486061 Charleroi, since 03-11-1987
Financial year end
31 December
Peppol
Reachable since 23-01-2026
Company details

Annual accounts 2025

€912,138▲ 3.5%
€35,669
€128,792▲ 38.3%
€556,698▼ 12.0%
Employeeson 31-12-2025
5=
Filing
Filed on 30-09-2026
Financials

Insights on POLYPHONIC

POLYPHONIC files the abbreviated format. That format states no turnover. The gross margin rose from €290,457 in 2006 to €317,271 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 30-09-2026, 61 days late
€912,138
▲ 3.5%
€53,946
▲ 15×
€73,913
▲ 213%
€55,636
▲ €59,118
23.1%
▲ 8.4 percentage points
1.11
▲ 0.17

Money flows

of every €100 of turnover, €3.91 remains as profit in 2025

Balance sheet

balance sheet total €556,698 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

23.1%

Higher than 22% of 1,245 companies in 2025.

1.11

Higher than 22% of 1,226 companies in 2025.

6.4%

Higher than 57% of 1,244 companies in 2025.

POLYPHONIC Middle half of the sector 80% of the sector Abbreviated accounts in fabricated metal products (NACE 25)

Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half · Staff: middle half

Staff

€52,233

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 556,698632,899613,715554,903524,063508,694504,110596,399664,558655,127664,157678,864775,862791,491760,808640,624620,594627,605670,059560,532
21/28 119,170138,310158,277178,244153,183148,766134,709154,798194,190164,532158,917158,410158,037147,639139,10269,72092,264105,527137,385127,306
22/27 119,170138,310158,277178,244153,183148,766134,709154,798194,190164,532158,917158,410158,037147,639139,10269,72090,494103,757137,385127,306
22 83,60383,60383,60383,60383,60383,60383,60383,603107,446107,446107,446107,446107,446110,318113,19132,46135,33438,20739,63125,318
23 9681,4222,4013,38010,37719,70432,06643,39150,67821,29418,47318,93618,70023,6075,2623,3845,90550,01174,22038,412
24 23,87453,28572,27350,83658,73743,95516,27223,77230,76930,16727,04525,91726,5518,37014,14326,78340,6124,7138,41343,353
25 10,725-------------------
26 ---40,4254661,5042,7684,0325,2975,6255,9536,1115,3405,3446,5067,0928,64310,82615,12120,223
28 ----------------1,7701,770--
29/58 437,528494,589455,438376,659370,880359,928369,401441,601470,368490,595505,240520,454617,825643,852621,706570,904528,330522,078532,674433,226
3 330,387331,754316,752277,038264,718269,500274,821290,724347,956348,656346,706355,757342,819384,075293,925278,691249,372206,519169,438136,642
30/36 330,387331,754316,752277,038264,718269,500274,821290,724347,956348,656346,706355,757342,819384,075293,925278,691249,372206,519169,438136,642
40/41 94,538147,087122,10282,91079,64163,14179,896124,406109,070133,346144,745149,184261,081244,356317,191268,368231,237271,799357,811286,062
40 42,541132,818105,02867,13640,94443,16671,196124,406108,770116,725136,95087,284173,903223,963296,067240,380195,134239,891357,054260,159
41 51,99714,26917,07415,77438,69719,9758,700-30016,6217,79561,90087,17820,39321,12427,98836,10331,90875725,903
54/58 4,8262,9614,0044,33214,5077,9783,68515,4722,3432,1486,83213,4709,76912,1597,61320,01143,86843,7604,72510,172
490/1 7,77712,78712,58012,37912,01419,30910,99910,99910,9996,4456,9572,0434,1563,2622,9773,8343,853-700350
Balance sheet: equity and liabilities
10/49 556,698632,899613,715554,903524,063508,694504,110596,399664,558655,127664,157678,864775,862791,491760,808640,624620,594627,605670,059560,532
10/15 128,79293,123116,572124,848118,663124,361136,900187,211185,946180,915189,284206,634251,496245,828240,971229,756194,047216,028212,213160,000
10/11 18,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,592
10 18,59218,59218,59218,59218,592---------------
100 18,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,592
13 1,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8596,8496,849
130/1 1,8591,8591,8591,8591,8591,859--------------
130 1,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,8591,859
132 ------------------4,9904,990
14 108,34172,67296,121104,39798,212103,910116,449166,760165,495160,464168,833186,183231,045225,377220,520209,305173,596195,577186,772134,559
16 ------------13,71313,71313,71313,71313,71313,71313,71313,713
160/5 ------------13,71313,71313,71313,71313,71313,71313,71313,713
17/49 427,906539,776497,143430,055405,400384,333367,210409,188478,612474,212474,873472,230510,653531,950506,124397,155412,834397,864444,133386,819
17 32,44912,11034,85564,23158,81925,7937,82022,11742,03042,00749,57150,77166,62267,38881,1718,95226,49237,06122,46840,408
170/4 32,44912,11034,85564,23158,81925,7937,82022,11742,03031,25149,57150,77166,62267,38881,1718,95226,49237,06122,46840,408
175 ---------10,756----------
42/48 395,457527,439462,268365,471346,581358,540359,390385,571436,582432,205425,302421,459441,791464,562424,953388,203386,342360,803421,665346,411
42 22,26522,74629,80729,02520,66456,49414,32719,91219,221130,82911,95615,85116,12213,78016,53417,54030,37821,38617,46621,912
43 98,450--98,688100,87099,70099,200-196,931100,000227,419229,129228,762180,621220,735115,236124,55553,89928,38260,307
430/8 98,450--98,688100,87099,70099,200-196,931100,000227,419229,129228,762180,621220,735115,236124,55553,89928,38260,307
44 99,791228,034152,97796,673111,379100,457124,599133,213123,06294,60493,564125,692128,660200,793129,391200,620171,236219,720331,680179,156
440/4 99,791228,034152,97796,673111,379100,457124,599133,213123,06294,60493,564125,692128,660200,793129,391200,620171,236206,650304,987166,548
441 -----------------13,07026,69312,608
46 ----2,761---------------
45 21,727177,80969,34133,43115,20718,28941,185133,08039,23449,90656,60841,88768,24769,05958,29354,80760,17365,79844,13748,171
450/3 14,65225,52760,09624,2898,41615,07632,62732,45331,77636,83540,95929,30339,45037,35530,14629,22533,28837,10730,06721,298
454/9 7,075152,2829,2459,1426,7913,2138,558100,6277,45813,07115,64912,58428,79731,70428,14725,58226,88528,69114,07026,873
47/48 153,22498,850210,143107,65495,70083,60080,07999,36658,13456,86635,7558,900-309-----36,865
492/3 -22720353---1,500----2,240-------
Income statement
70 912,138881,399-800,025610,749616,483815,062904,519844,125946,985932,936854,1501.0m1.2m1.3m-1.5m--1.5m
76A --1-2,54317,7501,337126,4062,0571--25,0003----305-
9900 317,271307,366344,175265,039188,554190,553236,377282,996285,528280,006271,589224,766278,763323,170303,870329,520282,767338,892340,970290,457
60/61 600,558578,741-545,512431,245449,243584,302627,996598,268675,394666,150633,703744,248877,187978,039-1.3m--1.3m
62 240,271282,497311,707213,068165,444169,251245,315280,110262,923260,061266,616245,344244,946258,044259,905236,483248,576252,465193,941172,477
630 19,96719,96719,96727,59715,42622,50122,50122,3591,8181,2592,0903,17024,70919,00119,07333,52437,31243,23349,41349,319
631/4 -------68,761-----------13,713
635/8 ------------13,713--------
640/8 3,0871,2596,4072,0301,6483,3902,37914,9574,8416,8935,7973,9567,01215,1723,9703,9813,8033,0645,2627,348
66A -------714---21,1267,2822,3362475,3615,95018,48665605
9901 53,9463,6436,09422,3446,036-4,589-33,818-103,19115,94611,793-2,914-13,9912,09630,95320,92255,532-6,92440,13092,35447,600
75/76B 2173502601564421,887126,5015511,8224,4437,3128,6471,9381,7552,4754,8553,2092,2443,551
75 217350260156442550955511,8214,4437,3128,6471,9381,7552,4754,8553,2092,2443,551
76B ------1,337126,406-1----------
65/66B 15,49427,31920,25012,9187,9718,39218,38013,87717,48221,98418,87916,45020,35618,01011,21411,57314,76314,75812,82210,905
65 15,49427,31920,25012,9187,9718,39218,38013,16317,48221,98418,87916,45020,35618,01011,21411,57314,76314,75812,82210,905
66B -------714------------
9903 38,669-23,326-13,8969,441-1,929-12,539-50,3119,433-985-8,369-17,350-44,2558,10512,54811,21641,073-22,78210,09582,01639,641
67/77 3,000123-5,6203,2563,769--8,168-6,016--6072,4377,69115,364-8016,28029,80311,226
9904 35,669-23,449-8,2766,185-5,698-12,539-50,3111,2655,031-8,369-17,350-44,8625,6684,85711,21535,709-21,9813,81552,21328,415
789 -----------------4,990-4,990
689 -------------------4,990
9905 35,669-23,449-8,2766,185-5,698-12,539-50,3111,2655,031-8,369-17,350-44,8625,6684,85711,21535,709-21,9818,80552,21328,415
Appropriation of the result
9906 108,34172,67296,121104,39798,212103,910116,449166,760165,495160,464168,833186,183231,045225,377220,520209,305173,596195,577186,772134,559
14P 72,67296,121104,39798,212103,910---------------
Social balance sheet
9087 4.65.65.85.85.85.85.85.85.75.8666.56.56.56.57.57.36.75.8
Hours worked1013 6,5039,0428,8196,8865,8685,6979,6729,3039,5389,86610,31110,1409,29510,50010,8669,98112,22112,13010,3889,435
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The accounts for 18 older financial years (1988-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00540351.

Financial year Type Filed Reference Document
31-12-2025 abbreviated format 30-09-2026 2026-00540351 PDF
31-12-2024 micro format 30-09-2025 2025-00527327 PDF
31-12-2023 micro format 26-08-2024 2024-00377172 PDF
31-12-2022 micro format 29-09-2023 2023-00460985 PDF
31-12-2021 micro format 21-09-2022 2022-20433614 PDF
31-12-2020 micro format 27-09-2021 2021-68400583 PDF
31-12-2019 full format 17-11-2020 2020-70800224 PDF
31-12-2018 full format 25-11-2019 2019-74300241 PDF
31-12-2017 full format 26-10-2018 2018-70400147 PDF
31-12-2016 full format 17-10-2017 2017-67400200 PDF
31-12-2015 full format 02-06-2016 2016-14900365 PDF
31-12-2014 full format 29-09-2015 2015-61400457 PDF
31-12-2013 full format 18-06-2014 2014-19100472 PDF
31-12-2012 full format 26-06-2013 2013-22300065 PDF
31-12-2011 full format 23-10-2012 2012-61400109 PDF
31-12-2010 full format 12-10-2011 2011-57900014 PDF
31-12-2009 full format 15-11-2010 2010-60500459 PDF
31-12-2008 full format 25-08-2009 2009-63000291 PDF
31-12-2007 full format 29-07-2008 2008-49200376 PDF
31-12-2006 full format 03-10-2007 2007-76500339 PDF
31-12-2005 full format 22-08-2006 2006-65204313 PDF
31-12-2004 full format 22-11-2005 2005-86701895 PDF
31-12-2003 full format 03-06-2004 2004-19400662 PDF
31-12-2002 full format 25-07-2003 2003-50304725 PDF
31-12-2001 full format 10-10-2002 2002-64803612 PDF
31-12-2000 full format 12-12-2001 2001-75204377 PDF
31-12-1999 full format 08-08-2001 2001-49000535 PDF
31-12-1998 full format 06-06-2000 2000-18103432 PDF
31-12-1997 full format 25-08-1998 1998-42000208 PDF
31-12-1996 full format 18-06-1997 1997-16603775 PDF
31-12-1995 full format 11-06-1996 1996-14700408 PDF
31-12-1994 full format 17-10-1995 1995-54102452 PDF
31-12-1993 full format 08-12-1994 1994-49304492 PDF
31-12-1992 full format 12-01-1994 1994-00602160 PDF
31-12-1991 full format 16-04-1993 1993-05501849 PDF
31-12-1990 full format 25-09-1991 1991-26500580 PDF
31-12-1989 full format 25-09-1991 1991-26500590 PDF
31-12-1988 full format 25-09-1991 1991-26500600 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
73,91323,61026,06149,94121,46217,912-11,317-80,83217,76413,052-824-10,82126,80549,95439,99589,05630,38883,363141,76796,919
55,636-3,48211,69133,7829,7289,962-27,81023,6246,849-7,110-15,260-41,69230,37723,85830,28869,23315,33147,048101,62677,734
8270052,65825,80036,5582,4126,81031,4766,8742,5973,54335,10727,53888,45512,75024,04911,37559,49282,040
1,865-1,043-328-10,1756,5294,293-11,78713,129195-4,684-6,6383,701-2,3904,546-12,398-23,85710839,035-5,447-
42,071-32,850-6,83011,18824,2991,38810,01156,03033,78658,39079,93898,995176,034179,290196,753182,701141,988161,275111,00986,815
5.9%0.4%-2.8%1.0%-0.7%-4.1%-11.4%1.9%1.2%-0.3%-1.6%0.2%2.6%1.6%--0.5%--3.1%
23.1%14.7%19.0%22.5%22.6%24.4%27.2%31.4%28.0%27.6%28.5%30.4%32.4%31.1%31.7%35.9%31.3%34.4%31.7%28.5%
1.110.940.991.031.071.001.031.151.081.141.191.231.401.391.461.471.371.451.261.25
0.270.310.300.270.310.250.260.390.280.330.370.390.620.560.770.750.720.870.860.86
3.325.804.263.443.423.092.682.192.572.622.512.292.032.162.101.732.131.842.092.42
27.7%-25.2%-7.1%5.0%-4.8%-10.1%-36.8%0.7%2.7%-4.6%-9.2%-21.7%2.3%2.0%4.7%15.5%-11.3%1.8%24.6%17.8%
6.4%-3.7%-1.3%1.1%-1.1%-2.5%-10.0%0.2%0.8%-1.3%-2.6%-6.6%0.7%0.6%1.5%5.6%-3.5%0.6%7.8%5.1%
4.770.861.293.872.69---------------
17 days55 days-31 days24 days26 days32 days50 days47 days45 days54 days37 days63 days68 days85 days-47 days--63 days
61 days144 days-65 days94 days82 days78 days77 days75 days51 days51 days72 days63 days84 days48 days-50 days--52 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date55766
full-time33555
part-time22211
in full-time equivalents4.64.76.75.85.8
4.65.65.85.85.8
On a permanent contract55666
Joined-01--
Left-20--
Training hours-55530--

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€827--€52,658€25,800
€19,967€19,967€19,967€27,597€15,426

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on POLYPHONIC

The operating result for 2025 is nearly 15 times that of 2024 and the highest since 2010. It is a recovery after the fall in 2024.

Debt's share of the balance-sheet total falls from 85.3% to 76.9%. Equity is higher and debt is lower.

Board & ownership

Board

1 director, no change since 2024
Etienne FLEMAL
Director (not named in the articles)
in office according to the deed of 08-11-2024 term without a fixed end
earlier manager, until 08-11-2024
listed in the 2025 annual accounts, filed on 30-09-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Etienne FLEMAL
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • Etienne FLEMAL
    • Director (not named in the articles), since before 31-12-2021
    • Manager, until 08-11-2024

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€18,592
Source
2025 annual accounts

Articles of association

deed of 08-11-2024 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
750 shares

Network & group

No group

POLYPHONIC has no parent and no holdings in its annual accounts. Etienne FLEMAL is the only director. POLYPHONIC shares no director with another company.

Timeline

Timeline

49 events since 1987

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBabbreviated format · 61 days late
Registered in the Peppol Directory Reachable for e-invoices through 0208:0432250905
2025
Back to profit net €35,669 The net result is €35,669, after 2 loss-making years.
Annual accounts 2024 filed PDFmicro format · 61 days late
2024
Legal-form change · Resignations & appointmentsResignation: Etienne FLEMAL (manager) · Reappointment: Etienne FLEMAL (director) · Permanent representative: Etienne FLEMAL · General meeting of 29-10-20249 points ▸
  • General meeting, 29-10-2024
  • Incorporation, 22-10-1987
  • Capital, €20,451.21
  • Power of attorney, Olivier Gillieaux
  • Director resignation, Etienne FLEMAL (manager)
  • Director reappointment, Etienne FLEMAL (director (not named in the articles))
  • Director discharge, Etienne FLEMAL (manager)
  • Permanent representative, Etienne FLEMAL
  • Registered office clause, rue Gillot, numéro 115, 6061 Montignies-sur-Sambre
  • The deed holds 8 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFmicro format · 26 days late
2023
Annual accounts 2022 filed PDFmicro format · 60 days late
2022
Back to profit net €6,185 The net result is €6,185, after 3 loss-making years.
Annual accounts 2021 filed PDFmicro format · 52 days late
2021
Annual accounts 2020 filed PDFmicro format · 58 days late
2020
Annual accounts 2019 filed PDFfull format · 109 days late
2019
Weakest financial year net -€50,311 The net result drops to -€50,311, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2018 filed PDFfull format · 117 days late
2018
Annual accounts 2017 filed PDFfull format · 87 days late
2017
Back to profit net €5,031 The net result is €5,031, after 3 loss-making years.
Annual accounts 2016 filed PDFfull format · 78 days late
2016
Annual accounts 2015 filed PDFfull format · 59 days before the deadline
2015
Annual accounts 2014 filed PDFfull format · 60 days late
2014
Annual accounts 2013 filed PDFfull format · 43 days before the deadline
2013
Annual accounts 2012 filed PDFfull format · 35 days before the deadline
2012
Annual accounts 2011 filed PDFfull format · 84 days late
2011
Annual accounts 2010 filed PDFfull format · 73 days late
2010
Back to profit net €35,709 The net result is €35,709, after one loss-making year.
Annual accounts 2009 filed PDFfull format · 107 days late
2009
Annual accounts 2008 filed PDFfull format · 25 days late
2008
Annual accounts 2007 filed PDFfull format · 2 days before the deadline
2007
Highest result from 2006 to 2025 net €52,213 ▲83.8% The operating result of €92,354 and the net result of €52,213 are both a record.
Equity above €200,000 equity €212,213 ▲32.6% With a profit in every financial year since 2006, equity grows to €212,213.
Annual accounts 2006 filed PDFfull format · 64 days late
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
Annual accounts 1999 filed PDFfull format
2000
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
Annual accounts 1992 filed PDFfull format
1993
Annual accounts 1991 filed PDFfull format
1991
Annual accounts 1988 filed PDFfull format
Annual accounts 1989 filed PDFfull format
Annual accounts 1990 filed PDFfull format
1987
First establishment Rue Gillot 115, Charleroi
Incorporation published on 10-11-1987

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 22 October 1987, POLYPHONIC was incorporated.1 Etienne FLEMAL is director of the company according to the deed of 08-11-2024.2 Turnover went from €904,519 in 2018 to €912,138 in 2025 and headcount from 5.8 to 4.6 full-time equivalents.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 08-11-2024
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0432.250.905
VAT number
BE 0432.250.905
Peppol ID
0208:0432250905
Legal form
Private limited company
Status
Active, normal situation
Founded
22-10-1987
Financial year
ends on 31 December
Peppol
Reachable since 23-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
POLYPHONIC in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 08-11-2024 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région Wallonne”
deed of 08-11-2024 (in French)

Activities

NACEBEL 2025
VAT activities
25110 Manufacture of metal structures and parts of structures main activity
Social security (RSZ) activities
16240 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials main activity
Joint committees annual accounts 2025
JC 126 Furnishing and woodworking
JC 149.01 Electricians: installation and distribution
JC 201 Independent retail
Codes under NACEBEL 2008
VAT activities
25110 Manufacture of metal structures and parts of structures main activity
Social security (RSZ) activities
16240 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials main activity
Codes under NACEBEL 2003
VAT activities
28110 main activity
Social security (RSZ) activities
20400 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“La vente, la location et l’installation de sonorisation et d’éclairage; S’intéresser par toutes voies dans toutes affaires, entreprises ou…”
3 activities
  1. La vente, la location et l’installation de sonorisation et d’éclairage.
  2. S’intéresser par toutes voies dans toutes affaires, entreprises ou sociétés, ayant un objet identique, analogue ou connexe et qui soit de nature à favoriser le développement de son entreprise, à lui procurer des matières premières, à faciliter l’écoulement de ses produits ou à élargir sa clientèle.
  3. Accomplir toutes opérations généralement quelconques, industrielles, commerciales, financières, mobilières ou immobilières se rapportant directement ou indirectement à son objet qui seraient de nature à en faciliter la réalisation.
deed of 08-11-2024 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Rue Gillot 115 registered office 6061 Charleroi 16240 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 03-11-1987 2.031.252.848

Location

registered office establishment approximate The establishment unit on the map

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