Polysun
ActiveSummary
Polysun has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€50,743) and a net result of -€57,875. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 351 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-6
Solvency0▼-27
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.71 against 0.93 in 2024; short-term debt: 125.3% and cash: 40% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-25.3%
Return on assets
-28.8%
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
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€50,743
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 31-07-2026, 0 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
15 d early
2022
18 d early
2021
100 d early
2020
57 d early
2019
73 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 38 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€50,743
2024 · €7,133
Total assets
€200,792▼ 39.9%
2024 · €333,901
Net result
-€57,875▼ 46.7%
2024 · -€39,442
Working capital
-€72,167▼ 209%
2024 · -€23,373
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€52,541▲ 31.7%€73,119▲ 39.2%-€18,611-€25,715▼ 38.2%-€48,312▼ 87.9%
Net result€32,481▼ 20.9%€34,107▲ 5.0%-€23,385-€39,442▼ 68.7%-€57,875▼ 46.7%
Equity€35,852▲ 963%€69,959▲ 95.1%€46,574▼ 33.4%€7,133▼ 84.7%-€50,743
Total assets€327,743▼ 28.6%€497,750▲ 51.9%€320,131▼ 35.7%€333,901▲ 4.3%€200,792▼ 39.9%
Debt€291,891▼ 36.0%€427,791▲ 46.6%€273,557▼ 36.1%€326,768▲ 19.5%€251,534▼ 23.0%
Working capital€26,381▲ 241%€49,056▲ 86.0%€34,713▼ 29.2%-€23,373-€72,167▼ 209%
Staff (FTE)2.7▲ 17.4%3.6▲ 33.3%3▼ 16.7%3=3.1▲ 3.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €48,312 in 2025 against €25,715 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 €200,792
Fixed assets
€21,425 ▼ 35.7%
Current assets
€179,367 ▼ 40.3%
Key figures and ratios
EBITDA
-€31,198▼
2024 · €3,876
Cash flow
-€40,761▼
2024 · -€9,850
Solvency
-25.3%▼
2024 · 2.1%
Current ratio
0.71▼
2024 · 0.93
Quick ratio
0.63▼
2024 · 0.89
Debt to equity
-4.96▼
2024 · 45.81
ROA
-28.8%▼
2024 · -11.8%
Interest coverage
-3.20▼
2024 · 0.29
Debt ≤ 1 year
€251,534▼
2024 · €323,970
Staff costs
€210,953▲
2024 · €200,604
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €138,923 | €210,921 | €194,733 | €200,604 | €210,953 | ▲ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,415 | €26,985 | €34,016 | €29,591 | €17,114 | ▼ 42.2% |
| Other operating charges640/8 | €2,160 | €3,782 | €3,732 | €4,813 | €4,359 | ▼ 9.4% |
| Gross operating margin9900 | €212,039 | €314,807 | €213,871 | €209,293 | €184,114 | ▼ 12.0% |
| Operating profit (loss)9901 | €52,541 | €73,119 | -€18,611 | -€25,715 | -€48,312 | ▼ 87.9% |
| Financial income75/76B | €3,850 | €9 | €6,948 | €410 | €185 | ▼ 54.9% |
| Recurring financial income75 | €3,850 | €9 | €6,948 | €410 | €185 | ▼ 54.9% |
| Financial charges65/66B | €6,106 | €12,607 | €11,600 | €13,215 | €9,748 | ▼ 26.2% |
| Recurring financial charges65 | €6,106 | €12,607 | €11,600 | €13,215 | €9,748 | ▼ 26.2% |
| Profit (loss) for the period before taxes9903 | €50,286 | €60,520 | -€23,263 | -€38,520 | -€57,875 | ▼ 50.2% |
| Income taxes67/77 | €17,805 | €26,413 | €122 | €921 | - | - |
| Profit (loss) for the period9904 | €32,481 | €34,107 | -€23,385 | -€39,442 | -€57,875 | ▼ 46.7% |
| Profit (loss) for the period to be appropriated9905 | €32,481 | €34,107 | -€23,385 | -€39,442 | -€57,875 | ▼ 46.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €327,743 | €497,750 | €320,131 | €333,901 | €200,792 | ▼ 39.9% |
| Fixed assets21/28 | €56,838 | €68,270 | €46,862 | €33,304 | €21,425 | ▼ 35.7% |
| Intangible fixed assets21 | - | €27,997 | €25,403 | €26,771 | €15,490 | ▼ 42.1% |
| Tangible fixed assets22/27 | €56,838 | €40,273 | €21,458 | €6,533 | €5,935 | ▼ 9.1% |
| Furniture and vehicles24 | €42,249 | €29,872 | €15,246 | €4,509 | €4,392 | ▼ 2.6% |
| Other tangible fixed assets26 | €14,589 | €10,400 | €6,212 | €2,024 | €1,543 | ▼ 23.8% |
| Current assets29/58 | €270,906 | €429,480 | €273,269 | €300,597 | €179,367 | ▼ 40.3% |
| Stocks and contracts in progress3 | €53,943 | €69,653 | €18,647 | €12,343 | €21,359 | ▲ 73.0% |
| Stocks30/36 | €53,943 | €69,653 | €18,647 | €12,343 | €21,359 | ▲ 73.0% |
| Amounts receivable within one year40/41 | €129,891 | €218,583 | €155,040 | €131,851 | €73,804 | ▼ 44.0% |
| Trade receivables40 | €129,861 | €209,404 | €136,388 | €115,287 | €73,727 | ▼ 36.0% |
| Other amounts receivable41 | €30 | €9,179 | €18,652 | €16,563 | €77 | ▼ 99.5% |
| Cash at bank and in hand54/58 | €58,415 | €139,561 | €97,669 | €140,069 | €80,300 | ▼ 42.7% |
| Deferred charges and accrued income490/1 | €28,656 | €1,683 | €1,913 | €16,334 | €3,904 | ▼ 76.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €327,743 | €497,750 | €320,131 | €333,901 | €200,792 | ▼ 39.9% |
| Equity10/15 | €35,852 | €69,959 | €46,574 | €7,133 | -€50,743 | ▼ 811% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €17,252 | €51,359 | €27,974 | - | - | - |
| Distributable reserves133 | €17,252 | €51,359 | €27,974 | - | - | - |
| Profit (loss) carried forward14 | - | - | - | -€11,467 | -€69,343 | ▼ 505% |
| Amounts payable17/49 | €291,891 | €427,791 | €273,557 | €326,768 | €251,534 | ▼ 23.0% |
| Amounts payable after more than one year17 | €47,367 | €47,367 | €35,000 | - | - | - |
| Financial debts170/4 | €12,367 | €12,367 | - | - | - | - |
| Other amounts payable178/9 | €35,000 | €35,000 | €35,000 | - | - | - |
| Amounts payable within one year42/48 | €244,525 | €380,424 | €238,557 | €323,970 | €251,534 | ▼ 22.4% |
| Current portion of amounts payable after more than one year42 | €6,920 | €25,000 | €5,341 | - | - | - |
| Financial debts43 | €94,730 | €94,730 | €84,730 | €134,730 | €134,730 | = |
| Credit institutions430/8 | €94,730 | €94,730 | €84,730 | €134,730 | €134,730 | = |
| Trade debts44 | €107,576 | €214,534 | €92,858 | €136,499 | €88,744 | ▼ 35.0% |
| Suppliers440/4 | €107,576 | €214,534 | €92,858 | €136,499 | €88,744 | ▼ 35.0% |
| Taxes, remuneration and social security45 | €32,733 | €43,601 | €41,811 | €41,431 | €23,041 | ▼ 44.4% |
| Taxes450/3 | €11,633 | €19,804 | €22,317 | €12,635 | €964 | ▼ 92.4% |
| Remuneration and social security454/9 | €21,100 | €23,797 | €19,494 | €28,796 | €22,077 | ▼ 23.3% |
| Other amounts payable47/48 | €2,565 | €2,559 | €13,817 | €11,310 | €5,019 | ▼ 55.6% |
| Accrued charges and deferred income492/3 | - | - | - | €2,798 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,481 | €34,107 | -€23,385 | -€39,442 | -€57,875 | ▼ 46.7% |
| + Depreciation and write-downs630 | €18,415 | €26,985 | €34,016 | €29,591 | €17,114 | ▼ 42.2% |
| Operating cash flow (approximation) | €50,896 | €61,092 | €10,631 | -€9,850 | -€40,761 | ▼ 314% |
| Investment in fixed assets (approximation) | - | -€38,417 | -€12,608 | -€16,033 | -€5,235 | ▲ 67.3% |
| Change in cash | - | €81,146 | -€41,893 | €42,400 | -€59,768 | ▼ 241% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€57,875
Net result drops to -€57,875, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Temse · 1 establishment unit since 2016
Ground area
5,609 m²
Building footprint
2,818 m²
Volume, LiDAR
22,547 m³
Parcel 46025B0387/00B000, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Polysun
since 20162.253.616.440
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B0387/00B000 | Flanders | 5,609 m² | 1 · 2,818 m² | 9.8 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 170 EUR awarded · 170 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 170 EUR | 170 EUR |
Schemes
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Of 100 companies in sector 23120 we hold annual accounts for 54. 10 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
23120Manufacture of other non-metallic mineral products
46831Wholesale of construction materials, general range
43320Joinery installation
43343Specialised construction activities
46190Agents in non-specialised wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.