POLYVAR
InactiveInactive since 13-05-2026; last annual accounts for fiscal year 2025.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-16k
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 13-11-2025, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
3 d early
2023
15 d early
2022
on the day
2021
20 d late
2020
9 d late
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-04-2026 close25-09-2026 today30-11-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€-16k▼ 73.6%
2024 · €-9k
2019: €-5khighest in 7 years
2020: €-8k▼ -67.2% vs 2019
2021: €-20k▼ -157% vs 2020
2022: €-15k▲ +22.6% vs 2021
2023: €-46k▼ -202% vs 2022lowest in 7 years
2024: €-9k▲ +80.5% vs 2023
2025: €-16k▼ -73.6% vs 2024
2019 → 2025
Total assets
€111k▼ 23.7%
2024 · €146k
2019: €231khighest in 7 years
2020: €206k▼ -11.2% vs 2019
2021: €181k▼ -12.0% vs 2020
2022: €186k▲ +2.8% vs 2021
2023: €145k▼ -22.1% vs 2022
2024: €146k▲ +0.6% vs 2023
2025: €111k▼ -23.7% vs 2024lowest in 7 years
2019 → 2025
Net result
€-7k
2024 · €37k
2019: €13k
2020: €-3k▼ -123% vs 2019
2021: €-12k▼ -291% vs 2020
2022: €4k▲ +137% vs 2021
2023: €-31k▼ -790% vs 2022lowest in 7 years
2024: €37k▲ +220% vs 2023highest in 7 years
2025: €-7k▼ -118% vs 2024
2019 → 2025
Working capital
€-16k▼ 68.9%
2024 · €-9k
2019: €-50k
2020: €-43k▲ +14.5% vs 2019
2021: €-49k▼ -14.6% vs 2020
2022: €-33k▲ +32.6% vs 2021
2023: €-55k▼ -66.3% vs 2022lowest in 7 years
2024: €-9k▲ +83.2% vs 2023highest in 7 years
2025: €-16k▼ -68.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-20k-€-15k▲ 22.6%€-46k▼ 202%€-9k▲ 80.5%€-16k▼ 73.6%
2021: €-20k
2022: €-15k▲ +22.6% vs 2021
2023: €-46k▼ -202% vs 2022lowest in 5 years
2024: €-9k▲ +80.5% vs 2023highest in 5 years
2025: €-16k▼ -73.6% vs 2024
Operating result€-11k-€2k€-30k€37k€-6k
2021: €-11k
2022: €2k▲ +115% vs 2021
2023: €-30k▼ -1821% vs 2022lowest in 5 years
2024: €37k▲ +223% vs 2023highest in 5 years
2025: €-6k▼ -117% vs 2024
Net result€-12k-€4k€-31k€37k€-7k
2021: €-12k
2022: €4k▲ +137% vs 2021
2023: €-31k▼ -790% vs 2022lowest in 5 years
2024: €37k▲ +220% vs 2023highest in 5 years
2025: €-7k▼ -118% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €6k after €37k in 2024.
Key figures and ratios
Solvency
-14.1%▼
2024 · -6.2%
Current ratio
0.88▼
2024 · 0.94
Quick ratio
0.13▼
2024 · 0.33
Debt to equity
-8.10▲
2024 · -17.15
ROA
-6.0%▼
2024 · 25.6%
Debt
€127k▼
2024 · €155k
Debt ≤ 1 year
€127k▼
2024 · €155k
Staff costs
€-238▼
2024 · €-185
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€146k€111k▼
Fixed assets21/28€250€0▼
Tangible fixed assets22/27€0-
Plant, machinery and equipment23€0-
Other tangible fixed assets26€0-
Financial fixed assets28€250€0▼
Current assets29/58€146k€111k▼
Stocks and contracts in progress3€95k€95k=
Stocks30/36€95k€95k=
Amounts receivable within one year40/41€26k€8k▼
Trade receivables40€13k€8k▼
Other amounts receivable41€14k€371▼
Cash at bank and in hand54/58€24k€8k▼
Equity and liabilities
Total equity and liabilities10/49€146k€111k▼
Equity10/15€-9k€-16k▼
Contributions10/11€19k€19k=
Reserves13€12k€12k=
Non-distributable reserves130/1€620€620=
Reserves not available under the articles1311€620€620=
Distributable reserves133€11k€11k=
Profit (loss) carried forward14€-39k€-46k▼
Amounts payable17/49€155k€127k▼
Amounts payable within one year42/48€155k€127k▼
Trade debts44€17k€4k▼
Suppliers440/4€17k€4k▼
Taxes, remuneration and social security45€269€269=
Taxes450/3€269€269=
Other amounts payable47/48€138k€123k▼
Income statement
Code20242025
Remuneration, social security and pensions62€-185€-238▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€22k€0▼
Other operating charges640/8€98€534▲
Gross operating margin9900€59k€-6k▼
Operating profit (loss)9901€37k€-6k▼
Financial income75/76B€3€0▼
Recurring financial income75€3€0▼
Financial charges65/66B€78€159▲
Recurring financial charges65€78€159▲
Profit (loss) for the period before taxes9903€37k€-7k▼
Profit (loss) for the period9904€37k€-7k▼
Profit (loss) for the period to be appropriated9905€37k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-39k€-46k▼
Profit (loss) brought forward from the previous period14P€-77k€-39k▲
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €42k | €39k | €-185 | €-238 | ▼ 28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €12k | €11k | €0 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €22k | €0 | ▼ 100% |
| Other operating charges640/8 | - | €120 | €851 | €98 | €534 | ▲ 448% |
| Gross operating margin9900 | €17k | €55k | €21k | €59k | €-6k | ▼ 111% |
| Operating profit (loss)9901 | €-11k | €2k | €-30k | €37k | €-6k | ▼ 117% |
| Financial income75/76B | - | €163 | €34 | €3 | €0 | ▼ 100% |
| Recurring financial income75 | €6 | €163 | €34 | €3 | €0 | ▼ 100% |
| Financial charges65/66B | - | €1,000 | €612 | €78 | €159 | ▲ 102% |
| Recurring financial charges65 | €701 | €1,000 | €612 | €78 | €159 | ▲ 102% |
| Profit (loss) for the period before taxes9903 | €-12k | €928 | €-31k | €37k | €-7k | ▼ 118% |
| Income taxes67/77 | - | €-4k | - | - | - | - |
| Profit (loss) for the period9904 | €-12k | €4k | €-31k | €37k | €-7k | ▼ 118% |
| Profit (loss) for the period to be appropriated9905 | €-12k | €4k | €-31k | €37k | €-7k | ▼ 118% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €181k | €186k | €145k | €146k | €111k | ▼ 23.7% |
| Fixed assets21/28 | €29k | €18k | €9k | €250 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €29k | €18k | €9k | €0 | - | - |
| Plant, machinery and equipment23 | - | €4k | €4k | €0 | - | - |
| Other tangible fixed assets26 | - | €14k | €4k | €0 | - | - |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €0 | ▼ 100% |
| Current assets29/58 | €152k | €168k | €136k | €146k | €111k | ▼ 23.6% |
| Stocks and contracts in progress3 | €123k | €120k | €116k | €95k | €95k | = |
| Stocks30/36 | - | €120k | €116k | €95k | €95k | = |
| Amounts receivable within one year40/41 | €22k | €175 | €10k | €26k | €8k | ▼ 70.1% |
| Trade receivables40 | - | €175 | €5k | €13k | €8k | ▼ 40.5% |
| Other amounts receivable41 | - | - | €5k | €14k | €371 | ▼ 97.3% |
| Cash at bank and in hand54/58 | €6k | €46k | €10k | €24k | €8k | ▼ 65.2% |
| Deferred charges and accrued income490/1 | - | €2k | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €181k | €186k | €145k | €146k | €111k | ▼ 23.7% |
| Equity10/15 | €-20k | €-15k | €-46k | €-9k | €-16k | ▼ 73.6% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €12k | €12k | €12k | €12k | €12k | = |
| Non-distributable reserves130/1 | - | €620 | €620 | €620 | €620 | = |
| Reserves not available under the articles1311 | - | €620 | €620 | €620 | €620 | = |
| Tax-exempt reserves132 | - | €4k | €4k | - | - | - |
| Distributable reserves133 | - | €7k | €7k | €11k | €11k | = |
| Profit (loss) carried forward14 | €-50k | €-46k | €-77k | €-39k | €-46k | ▼ 16.8% |
| Amounts payable17/49 | €201k | €201k | €191k | €155k | €127k | ▼ 18.0% |
| Amounts payable within one year42/48 | €201k | €201k | €191k | €155k | €127k | ▼ 18.0% |
| Trade debts44 | €1k | €401 | €413 | €17k | €4k | ▼ 79.0% |
| Suppliers440/4 | - | €401 | €413 | €17k | €4k | ▼ 79.0% |
| Taxes, remuneration and social security45 | - | €21k | €2k | €269 | €269 | = |
| Taxes450/3 | - | €7k | €2k | €269 | €269 | = |
| Remuneration and social security454/9 | - | €14k | - | - | - | - |
| Other amounts payable47/48 | - | €180k | €188k | €138k | €123k | ▼ 10.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-12k | €4k | €-31k | €37k | €-7k | ▼ 118% |
| + Depreciation and write-downs630 | €12k | €12k | €11k | €0 | - | - |
| Operating cash flow (approximation) | €-22 | €16k | €-20k | €37k | €-7k | ▼ 118% |
| Investment in fixed assets (approximation) | - | €0 | €-2k | €9k | €250 | ▼ 97.1% |
| Change in cash | - | €41k | €-36k | €14k | €-16k | ▼ 212% |
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
2025
13-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-04
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
2023
15-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-04
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series.
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-04
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 20 days late
2020
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 9 days late
2019
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
07-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 38 days late
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 298 days late
2016
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Oudenaarde
Ground area
311 m²
Building footprint
64 m²
Volume, LiDAR
26 m³
Parcel 45508B0077/00H002, Flanders · tallest building 4.0 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45508B0077/00H002 | Flanders | 311 m² | 1 · 63 m² | 4.0 m |
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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 623 companies in sector 51430 we hold annual accounts for 523. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded14-01-1994
Fiscal year end30-04
Activities, NACEBEL 2025
46431Wholesale of electrical household appliances and audio-video equipment
77223Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.