Equity
-€97,003
Debts exceed assets in financial year 2025.
Polywave
Lifetime
1 annual account with figurespeak -€194,575 (2025)
-€194,575
lowest -€197,003 (2025)
-€197,003
peak -€97,003 (2025)
-€97,003
€135,130
Board1 name since 2024
1 directorVANDUFFEL Dimitri Jack Edmond
Documentsfilings and deeds
28-07-20263 days before the deadline
2025abbreviated format
Loss of €197,003First year with figures
Key points
from the 2025 annual accountsDebts
€135,130 354% of the balance sheet
Financial debts 76%Suppliers 24%
Of this, €33,602 falls due within a year.
Position in the sector
-254.4%
Lower solvency than 95% of companies in retail trade. Sector median 36.6% · 12,856 companies.
Turnover not published (abbreviated format)
Checked score
53
Fair
Financially stronger than 23% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.7% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
07-2025: 1.6%lowest value
08-2025: 1.6%● unchanged vs 07-2025
09-2025: 1.9%▲ +0.3 percentage points vs 08-2025
10-2025: 2.0%▲ +0.1 percentage points vs 09-2025
11-2025: 2.3%▲ +0.3 percentage points vs 10-2025
12-2025: 2.3%● unchanged vs 11-2025
01-2026: 2.5%▲ +0.2 percentage points vs 12-2025
02-2026: 2.5%● unchanged vs 01-2026
03-2026: 2.5%● unchanged vs 02-2026
04-2026: 2.5%● unchanged vs 03-2026
05-2026: 2.6%▲ +0.1 percentage points vs 04-2026
06-2026: 2.8%▲ +0.2 percentage points vs 05-2026
07-2026: 2.8%● unchanged vs 06-2026highest value
08-2026: 1.7%▼ -1.1 percentage points vs 07-2026
09-2026: 1.7%● unchanged vs 08-2026
10-2026: 1.7%● unchanged vs 09-2026
11-2026: 1.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€97,003
Loss of €197,003 (financial year 2025)
lowers risk
Liquidity: current ratio 1.13, cash €16,967
Size: total assets €38,127
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 47, micro). It does better than 6% of them on solvency, 55% on liquidity and 6% on profitability.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 7,639 companies had the same profile as Polywave has now. Each dot stands for 20 companies, two years later.
84.7%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Polywave itself is lower: 1.7% within 12 months. It rests on far more data about Polywave than the profile alone.
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.
| 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 7,639 companies, not a prediction for Polywave. 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
No credit on open account
Liquidity is tight, with a current ratio of 1.13, below the usual 1.5. Short-term debt is 88.1% and cash 44.5% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
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 28-07-2026, 3 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
3 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1010032294
Incorporation
Founding capital of €100,000, 100 shares · Founder: VANDUFFEL Dimitri Jack Edmond · Appointment: VANDUFFEL Dimitri Jack Edmond (sole director) · published on 06-06-2024 · Gazette deed
First establishment
Pacificatielaan 99, Ghent
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Polywave Ghent | €38,127 | -€194,575 | -254.4% | - |
| PUP Zulte | €31,343 | -€27,920 | -1.9% | - |
| H.A.S. PELLETS Beloeil | €33,108 | -€9,139 | 14.1% | - |
| YARRA Ixelles | €48,636 | -€14,507 | 5.1% | - |
| Vef-Deals Brussels | €48,515 | -€4,998 | 98.5% | - |
| ATW SERVICE Antwerp | €50,845 | -€12,001 | -16.2% | - |
| ALLTIMES AUCTIONS Kruisem | €81,872 | -€10,988 | -9.5% | - |
These companies have the same main activity as Polywave: retail sale of solid, liquid and gaseous fuels, excluding motor fuels (NACE 47781). They are comparable in size and age: total assets between €31,300 and €81,900, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 04-06-2024Normal situation
- Activity
- Retail sale of solid, liquid and gaseous fuels, excluding motor fuelsNACE 47781and 4 others
- Establishment unit
- 2.361.448.9649000 Ghent, since 04-06-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 09-07-2024
Annual accounts 2025
- €38,127
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on Polywave
The computed 12-month bankruptcy probability of Polywave is 1.7% (moderate). The 2025 annual accounts show negative equity (-€97,003) and a net result of -€197,003.
Its solvency ranks better than 5% of 12,856 sector peers (NACE 47, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Polywave
- What is the company number of Polywave?
- The company number of Polywave is 1010.032.294. The VAT number is the same number with BE in front: BE 1010.032.294.
- Where is Polywave based?
- The registered office is at Pacificatielaan 99, 9000 Ghent.Company details
- What does Polywave do?
- According to the KBO register, the main activity is retail sale of solid, liquid and gaseous fuels, excluding motor fuels (NACE 47781).
- What is the legal form of Polywave?
- Polywave is a public limited company (NV).
- When was Polywave founded?
- Polywave was founded on 04-06-2024.
- Is Polywave still active?
- Yes, Polywave is an active enterprise in the KBO register.
- What is the turnover of Polywave?
- The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.Financials
- Is Polywave profitable?
- In financial year 2025, Polywave made a loss of €197,003.
- Where can I find the annual accounts of Polywave?
- Polywave filed 1 annual account with the National Bank of Belgium, for financial year 2025.
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