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Polytek

Active
Private limited companyfounded 2011active for 15 yearsIndustriepark 45, 3300 Tienen, BelgiumKBO/BCE: BE 0836.937.180

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 27-07-2026 at the NBB all 14 filings

Turnover
≈ €5.7m
Estimated: probably between €4.3m and €8.3m
Total assets
€2.7m▲ 4.8%
2024 · €2.6m
Net result
€5,169▼ 86.5%
2024 · €38,345
Working capital
-€401,567▼ 50.2%
2024 · -€267,303
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 0% lower than in 2024. It is the second fall in a row.

Operating result€0.1m 2025 Net result€0.005m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.05m▼ 47.8%-€0.05m€0.05m€0.04m▼ 13.6%€0.4m▲ 756%€0.1m▼ 63.2%€0.1m▼ 0.3%
Net result€0.07m-€0.03m▼ 57.3%-€0.1mbelow the sector's middle half€0.03mwithin the sector's middle half-€0.01mbelow the sector's middle half€0.2mabove the sector's middle half€0.04mwithin the sector's middle half▼ 79.9%€0.005mwithin the sector's middle half▼ 86.5%
Equity€0.2m-€0.2m▲ 18.2%€0.1mwithin the sector's middle half▼ 40.8%€0.2mwithin the sector's middle half▲ 19.3%€0.2mwithin the sector's middle half▼ 8.0%€0.3mwithin the sector's middle half▲ 122%€0.4mwithin the sector's middle half▲ 11.1%€0.4mwithin the sector's middle half▲ 1.3%
Total assets€0.5m-€0.5m▼ 7.4%€0.7mwithin the sector's middle half▲ 30.4%€0.8mwithin the sector's middle half▲ 27.1%€1.8mwithin the sector's middle half▲ 115%€2.5mwithin the sector's middle half▲ 38.8%€2.6mwithin the sector's middle half▲ 3.9%€2.7mabove the sector's middle half▲ 4.8%
Debt€0.3m-€0.3m▼ 22.8%€0.5m▲ 95.9%€0.7m▲ 29.2%€1.6m▲ 147%€2.1m▲ 30.8%€2.2m▲ 2.7%€2.3m▲ 5.4%
Working capital€0.1m-€0.1m▼ 5.5%€0.2mwithin the sector's middle half▲ 51.8%€0.1mwithin the sector's middle half▼ 23.9%-€0.3mbelow the sector's middle half-€0.3mbelow the sector's middle half▲ 8.0%-€0.3mbelow the sector's middle half▲ 11.4%-€0.4mbelow the sector's middle half▼ 50.2%
Solvency37.5%-47.9%▲ 10.4pp21.7%within the sector's middle half▼ 26.2pp20.4%within the sector's middle half▼ 1.3pp8.7%below the sector's middle half▼ 11.7pp14.0%below the sector's middle half▲ 5.3pp15.0%below the sector's middle half▲ 1.0pp14.5%within the sector's middle half▼ 0.5pp
Current ratio1.46-1.58▲ 0.131.48within the sector's middle half▼ 0.101.23within the sector's middle half▼ 0.250.71within the sector's middle half▼ 0.520.80within the sector's middle half▲ 0.090.84within the sector's middle half▲ 0.040.78within the sector's middle half▼ 0.06
Return on assets (ROA)13.3%-6.1%▼ 7.2pp-15.0%below the sector's middle half▼ 21.1pp3.3%within the sector's middle half▲ 18.3pp-0.8%below the sector's middle half▼ 4.1pp7.7%within the sector's middle half▲ 8.5pp1.5%within the sector's middle half▼ 6.2pp0.2%within the sector's middle half▼ 1.3pp
Staff (FTE)4.9-7.9▲ 61.2%11above the sector's middle half▲ 39.2%13.6above the sector's middle half▲ 23.6%22.1above the sector's middle half▲ 62.5%32.4above the sector's middle half▲ 46.6%35.2above the sector's middle half▲ 8.6%37.5above the sector's middle half▲ 6.5%
above within below The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets €1.3m ▲ 4.8%
Current assets €1.4m ▲ 4.8%
Equity and liabilities €2.7m
Equity €390,091 ▲ 1.3%
Debt €2.3m ▲ 5.4%
Debt's share of the balance-sheet total rises from 85.0% to 85.5%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€411,675▼
2024 · €435,208
Cash flow
€282,613▼
2024 · €338,983
Debt to equity
5.91▲
2024 · 5.68
ROE
1.3%▼
2024 · 10.0%
Interest coverage
4.77▼
2024 · 5.37
Debt ≤ 1 year
€1.8m▲
2024 · €1.6m
Debt > 1 year
€461,417▼
2024 · €543,009
Income taxes
€49,921▲
2024 · €31,052
Staff costs
€3.2m▲
2024 · €2.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as Polytek: office administrative and support services (NACE 82100). They are comparable in size and age: total assets between €1.3m and €6.4m, founded between 1994 and 2015.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
Polytek Tienen2011€2.7m€0.4m€3.7m€0.005m37.52025
SALARY SOLUTION Anderlecht2008€2.6m€0.7m€3.8m€0.1m35.92025
Groupe Terre asbl Herstal2012€6.4m€4.2m€2.8m€0.02m41.82025
OPALINE Saint-Ghislain2011€1.6m€1.1m€1.9m€0.3m27.12025
LOON EN WEDDEBEHEER Beringen1994€2.4m€0.7m€3.8m€0.7m28.52025
Paypro Services Brussel2015€1.3m€0.4m€3.0m€0.04m73.42025
Molto Plus Anzegem2001€3.2m€2.5m€1.9m€0.002m21.82025

They were chosen from the 3,636 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 4,107 companies had the same profile as Polytek has now. Two years later, 1.0% had gone bankrupt and 98.0% were still going.

  • Small
  • 10 to 20 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.0% went bankrupt
0.9% stopped otherwise
98.0% was still going

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

That fits the bankruptcy probability of Polytek itself: 0.4% within 12 months.

Test of the method

The method was tested on the 497,445 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 4,107 companies, not a prediction for Polytek. 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.

Subsidies and aid

Flemish government

2022 to 2025 · 4 entries · €9,462 awarded · €9,462 paid
Year Entries AwardedPaid
2025 1 €1,245€1,245
2024 1 €1,363€1,363
2022 2 €6,854€6,854
Schemes
2 entries · €5,436 · €5,436 paid · Fonds voor Innoveren en Ondernemen
2 entries · €4,026 · €4,026 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines

Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€2.6m€2.7m▲
Fixed assets21/28€1.2m€1.3m▲
Intangible fixed assets21€0.04m€0.009m▼
Tangible fixed assets22/27€1.1m€1.1m▲
Plant, machinery and equipment23€0.002m€0.001m▼
Furniture and vehicles24€0.1m€0.09m▼
Leasing and similar rights25€0.8m€0.8m▲
Other tangible fixed assets26€0.2m€0.2m▲
Financial fixed assets28€0.05m€0.1m▲
Current assets29/58€1.4m€1.4m▲
Amounts receivable within one year40/41€1.1m€0.8m▼
Trade receivables40€0.7m€0.7m▲
Other amounts receivable41€0.4m€0.08m▼
Cash at bank and in hand54/58€0.1m€0.4m▲
Deferred charges and accrued income490/1€0.2m€0.2m▼
Equity and liabilities
Total equity and liabilities10/49€2.6m€2.7m▲
Equity10/15€0.4m€0.4m▲
Contributions10/11€0.02m€0.02m=
Reserves13€0.4m€0.4m▲
Non-distributable reserves130/1-€0
Reserves not available under the articles1311-€0
Distributable reserves133€0.4m€0.4m▲
Amounts payable17/49€2.2m€2.3m▲
Amounts payable after more than one year17€0.5m€0.5m▼
Financial debts170/4€0.5m€0.5m▼
Amounts payable within one year42/48€1.6m€1.8m▲
Current portion of amounts payable after more than one year42€0.3m€0.3m▲
Financial debts43€0.3m€0.1m▼
Credit institutions430/8€0.3m€0.1m▼
Trade debts44€0.4m€0.4m▲
Suppliers440/4€0.4m€0.4m▲
Taxes, remuneration and social security45€0.7m€0.9m▲
Taxes450/3€0.2m€0.2m▲
Remuneration and social security454/9€0.5m€0.7m▲
Other amounts payable47/48-€0.04m
Income statement Code20242025
Remuneration, social security and pensions62€2.9m€3.2m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.3m€0.3m▼
Other operating charges640/8€0.03m€0.04m▲
Gross operating margin9900€3.4m€3.7m▲
Operating profit (loss)9901€0.1m€0.1m▼
Financial income75/76B€0.02m€0.007m▼
Recurring financial income75€0.02m€0.007m▼
Financial charges65/66B€0.08m€0.09m▲
Recurring financial charges65€0.08m€0.09m▲
Profit (loss) for the period before taxes9903€0.07m€0.06m▼
Income taxes67/77€0.03m€0.05m▲
Profit (loss) for the period9904€0.04m€0.005m▼
Profit (loss) for the period to be appropriated9905€0.04m€0.005m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.04m€0.005m▼
Transfer to equity691/2€0.04m€0.005m▼
To other reserves6921€0.04m€0.005m▼
Social balance sheet
Average headcount (FTE)908735.237.5▲

The notes to these accounts have 17 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.

Line20182019202020212022202320242025Change
Remuneration, social security and pensions62---€0.8m€1.5m€2.7m€2.9m€3.2m▲ 10.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.04m€0.04m€0.05m€0.05m€0.1m€0.2m€0.3m€0.3m▼ 7.7%
Other operating charges640/8---€0.004m€0.008m€0.03m€0.03m€0.04m▲ 13.2%
Gross operating margin9900€0.4m€0.5m€0.6m€0.9m€1.7m€3.3m€3.4m€3.7m▲ 8.4%
Operating profit (loss)9901€0.1m€0.05m-€0.05m€0.05m€0.04m€0.4m€0.1m€0.1m▼ 0.3%
Financial income75/76B---€0.002m€2€0.01m€0.02m€0.007m▼ 55.0%
Recurring financial income75€1€21€84€0.002m€2€0.01m€0.02m€0.007m▼ 55.0%
Financial charges65/66B---€0.009m€0.03m€0.08m€0.08m€0.09m▲ 6.4%
Recurring financial charges65€0.003m€0.005m€0.009m€0.009m€0.03m€0.08m€0.08m€0.09m▲ 6.4%
Profit (loss) for the period before taxes9903€0.1m€0.05m-€0.1m€0.04m€0.02m€0.3m€0.07m€0.06m▼ 20.6%
Income taxes67/77€0.02m€0.02m€0.001m€0.02m€0.03m€0.1m€0.03m€0.05m▲ 60.8%
Profit (loss) for the period9904€0.07m€0.03m-€0.1m€0.03m-€0.01m€0.2m€0.04m€0.005m▼ 86.5%
Profit (loss) for the period to be appropriated9905€0.07m€0.03m-€0.1m€0.03m-€0.01m€0.2m€0.04m€0.005m▼ 86.5%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€0.5m€0.5m€0.7m€0.8m€1.8m€2.5m€2.6m€2.7m▲ 4.8%
Fixed assets21/28€0.1m€0.2m€0.1m€0.1m€1.0m€1.3m€1.2m€1.3m▲ 4.8%
Intangible fixed assets21€0.01m€0.05m€0.03m€0.04m€0.04m€0.08m€0.04m€0.009m▼ 73.9%
Tangible fixed assets22/27€0.04m€0.03m€0.08m€0.08m€0.9m€1.2m€1.1m€1.1m▲ 1.1%
Plant, machinery and equipment23---€0.001m€0.003m€0.003m€0.002m€0.001m▼ 44.4%
Furniture and vehicles24---€0.08m€0.1m€0.1m€0.1m€0.09m▼ 18.5%
Leasing and similar rights25----€0.6m€0.8m€0.8m€0.8m▲ 1.2%
Other tangible fixed assets26----€0.2m€0.2m€0.2m€0.2m▲ 11.5%
Financial fixed assets28€0.1m€0.1m---€0.02m€0.05m€0.1m▲ 147%
Current assets29/58€0.4m€0.3m€0.5m€0.7m€0.8m€1.2m€1.4m€1.4m▲ 4.8%
Stocks and contracts in progress3€0.03m€0.01m€0.05m------
Amounts receivable within one year40/41€0.1m€0.2m€0.4m€0.6m€0.6m€0.8m€1.1m€0.8m▼ 24.0%
Trade receivables40---€0.6m€0.6m€0.6m€0.7m€0.7m▲ 10.1%
Other amounts receivable41----€0.002m€0.2m€0.4m€0.08m▼ 81.0%
Cash at bank and in hand54/58€0.2m€0.08m€0.08m€0.1m€0.1m€0.3m€0.1m€0.4m▲ 370%
Deferred charges and accrued income490/1---€0.02m€0.03m€0.06m€0.2m€0.2m▼ 14.9%
Equity and liabilities
Total equity and liabilities10/49€0.5m€0.5m€0.7m€0.8m€1.8m€2.5m€2.6m€2.7m▲ 4.8%
Equity10/15€0.2m€0.2m€0.1m€0.2m€0.2m€0.3m€0.4m€0.4m▲ 1.3%
Contributions10/11€0.01m€0.02m-€0.02m€0.02m€0.02m€0.02m€0.02m=
Reserves13€0.2m€0.2m€0.2m€0.2m€0.1m€0.3m€0.4m€0.4m▲ 1.4%
Non-distributable reserves130/1---€0.002m€0.002m€0.002m-€0-
Reserves not available under the articles1311---€0.002m€0.002m€0.002m-€0-
Distributable reserves133---€0.1m€0.1m€0.3m€0.4m€0.4m▲ 1.4%
Profit (loss) carried forward14---€0.1m------
Amounts payable17/49€0.3m€0.3m€0.5m€0.7m€1.6m€2.1m€2.2m€2.3m▲ 5.4%
Amounts payable after more than one year17€0.07m€0.06m€0.1m€0.08m€0.5m€0.6m€0.5m€0.5m▼ 15.0%
Financial debts170/4---€0.08m€0.5m€0.6m€0.5m€0.5m▼ 15.0%
Amounts payable within one year42/48€0.3m€0.2m€0.4m€0.6m€1.1m€1.5m€1.6m€1.8m▲ 12.2%
Current portion of amounts payable after more than one year42---€0.05m€0.2m€0.2m€0.3m€0.3m▲ 5.1%
Financial debts43----€0.2m€0.2m€0.3m€0.1m▼ 60.8%
Credit institutions430/8----€0.2m€0.2m€0.3m€0.1m▼ 60.8%
Trade debts44€0.2m€0.1m€0.1m€0.2m€0.2m€0.3m€0.4m€0.4m▲ 22.2%
Suppliers440/4---€0.2m€0.2m€0.3m€0.4m€0.4m▲ 22.2%
Taxes, remuneration and social security45---€0.2m€0.5m€0.7m€0.7m€0.9m▲ 36.1%
Taxes450/3---€0.08m€0.2m€0.2m€0.2m€0.2m▲ 30.2%
Remuneration and social security454/9---€0.1m€0.3m€0.5m€0.5m€0.7m▲ 38.3%
Other amounts payable47/48---€0.1m€0.02m--€0.04m-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.07m€0.03m-€0.1m€0.03m-€0.01m€0.2m€0.04m€0.005m▼ 86.5%
+ Depreciation and write-downs630€0.04m€0.04m€0.05m€0.05m€0.1m€0.2m€0.3m€0.3m▼ 7.7%
Operating cash flow (approximation)€0.1m€0.07m-€0.05m€0.07m€0.1m€0.4m€0.3m€0.3m▼ 16.6%
Investment in fixed assets (approximation)--€0.07m€0.03m-€0.06m-€1.0m-€0.5m-€0.2m-€0.3m▼ 41.3%
Change in cash--€0.1m€0.001m€0.03m€0.01m€0.2m-€0.3m€0.4m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 14 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 27-07-2026 2026-00336460 NBB
31-12-2024 abbreviated format 25-06-2025 2025-00173687 PDF
31-12-2023 abbreviated format 26-06-2024 2024-00166204 PDF
31-12-2022 abbreviated format 28-11-2023 2023-00518098 PDF
31-12-2021 abbreviated format 29-08-2022 2022-20356914 PDF
31-12-2020 abbreviated format 23-08-2021 2021-52000147 PDF
31-12-2019 micro format 30-12-2020 2020-77500290 PDF
31-12-2018 micro format 30-08-2019 2019-61400089 PDF
31-12-2017 micro format 30-08-2018 2018-54700014 PDF
31-12-2016 micro format 29-08-2017 2017-51800095 PDF

Show all 14 filings

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