POLYREC
InactiveFinancials · financial year 2025, micro format
Equity
€10,057▼ 88.0%
2024 · €83,981
Total assets
€40,023▼ 55.7%
2024 · €90,425
Net result
-€73,924▼ 300%
2024 · -€18,494
Working capital
€29,020▼ 53.2%
2024 · €62,027
Trend over the years
2022 to 2025, 4 financial years
The operating result stays negative: a loss of €73,758 in 2025 against €18,433 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€73,758
2025
Net result-€73,924
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€40,023
2025
Equity€10,057
2025
Debt€11,003
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€29,020
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€117,160--€14,416-€18,433▼ 27.9%-€73,758▼ 300%
Net result€117,085--€14,609-€18,494▼ 26.6%-€73,924▼ 300%
Equity€117,085-€102,475▼ 12.5%€83,981▼ 18.0%€10,057▼ 88.0%
Total assets€137,040-€106,589▼ 22.2%€90,425▼ 15.2%€40,023▼ 55.7%
Debt€19,955-€4,113▼ 79.4%€6,443▲ 56.6%€11,003▲ 70.8%
Working capital€105,185-€68,990▼ 34.4%€62,027▼ 10.1%€29,020▼ 53.2%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €40,023
Equity
€10,057 ▼ 88.0%
Provisions
€18,962
Debt
€11,003 ▲ 70.8%
Debt's share of the balance-sheet total rises from 7.1% to 27.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€65,785▼
2024 · -€7,157
Cash flow
-€65,950▼
2024 · -€7,218
Current ratio
3.64▼
2024 · 10.63
Debt to equity
1.09▲
2024 · 0.08
ROE
-735.0%▼
2024 · -22.0%
ROA
-184.7%▼
2024 · -20.5%
Interest coverage
-397.13▼
2024 · -117.62
Debt ≤ 1 year
€11,003▲
2024 · €6,443
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €646 | €9,494 | €11,276 | €7,974 | ▼ 29.3% |
| Other operating charges640/8 | - | - | €2,855 | €26 | ▼ 99.1% |
| Non-recurring operating charges66A | - | - | - | €13,980 | - |
| Gross operating margin9900 | €117,806 | -€4,922 | -€4,302 | -€32,816 | ▼ 663% |
| Operating profit (loss)9901 | €117,160 | -€14,416 | -€18,433 | -€73,758 | ▼ 300% |
| Financial charges65/66B | €75 | €194 | €61 | €166 | ▲ 172% |
| Recurring financial charges65 | €75 | €194 | €61 | €166 | ▲ 172% |
| Profit (loss) for the period before taxes9903 | €117,085 | -€14,609 | -€18,494 | -€73,924 | ▼ 300% |
| Profit (loss) for the period9904 | €117,085 | -€14,609 | -€18,494 | -€73,924 | ▼ 300% |
| Profit (loss) for the period to be appropriated9905 | €117,085 | -€14,609 | -€18,494 | -€73,924 | ▼ 300% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €137,040 | €106,589 | €90,425 | €40,023 | ▼ 55.7% |
| Fixed assets21/28 | €11,900 | €33,485 | €21,954 | - | - |
| Intangible fixed assets21 | €11,645 | €33,230 | €21,954 | - | - |
| Financial fixed assets28 | €255 | €255 | - | - | - |
| Current assets29/58 | €125,140 | €73,104 | €68,470 | €40,023 | ▼ 41.5% |
| Amounts receivable within one year40/41 | €125,140 | €16,354 | €5,437 | €2,151 | ▼ 60.4% |
| Trade receivables40 | €444 | €1,422 | - | €437 | - |
| Other amounts receivable41 | €124,696 | €14,932 | €5,437 | €1,714 | ▼ 68.5% |
| Cash at bank and in hand54/58 | - | €56,750 | €63,034 | €36,965 | ▼ 41.4% |
| Deferred charges and accrued income490/1 | - | - | - | €906 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €137,040 | €106,589 | €90,425 | €40,023 | ▼ 55.7% |
| Equity10/15 | €117,085 | €102,475 | €83,981 | €10,057 | ▼ 88.0% |
| Profit (loss) carried forward14 | €117,085 | €102,475 | €83,981 | €10,057 | ▼ 88.0% |
| Provisions and deferred taxes16 | - | - | - | €18,962 | - |
| Provisions for liabilities and charges160/5 | - | - | - | €18,962 | - |
| Other liabilities and charges164/5 | - | - | - | €18,962 | - |
| Amounts payable17/49 | €19,955 | €4,113 | €6,443 | €11,003 | ▲ 70.8% |
| Amounts payable within one year42/48 | €19,955 | €4,113 | €6,443 | €11,003 | ▲ 70.8% |
| Trade debts44 | €19,955 | €4,113 | €6,443 | €11,003 | ▲ 70.8% |
| Suppliers440/4 | €19,955 | €4,113 | €6,443 | €11,003 | ▲ 70.8% |
| Taxes, remuneration and social security45 | €0 | €0 | - | - | - |
| Taxes450/3 | €0 | €0 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €117,085 | -€14,609 | -€18,494 | -€73,924 | ▼ 300% |
| + Depreciation and write-downs630 | €646 | €9,494 | €11,276 | €7,974 | ▼ 29.3% |
| Operating cash flow (approximation) | €117,731 | -€5,116 | -€7,218 | -€65,950 | ▼ 814% |
| Investment in fixed assets (approximation) | - | -€31,079 | €255 | - | - |
| Change in cash | - | - | €6,284 | -€26,069 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00292728 |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00352659 |
| 31-12-2023 | micro format | 05-08-2024 | 2024-00330799 |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00400785 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.