Summary
POLCAF has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €86.73M and a net result of €-218k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 87% of 517 sector peers (fiscal year 2024). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 15-07-2026, 16 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
16 d early
2024
30 d early
2023
15 d early
2022
26 d early
2021
25 d early
2020
25 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2024, full schema, statutory accounts
Turnover
€8.28M▲ 16.2%
2023 · €7.13M
2018: €4.09M
2019: €4.07M
2020: €4.11M
2021: €5.27M
2022: €5.76M
2023: €7.13M
2018 → 2024
EBIT margin
1.4%▼ 3.6pp
2023 · 5.0%
2018: 42.6%
2019: 43.6%
2020: 23.9%
2021: 35.6%
2022: 11.4%
2023: 5.0%
2018 → 2024
Net result
€-218k
2023 · €1.43M
2018: €3.31M
2019: €4.18M
2020: €3.06M
2021: €6.61M
2022: €18.79M
2023: €1.43M
2018 → 2024
Working capital
€-9.57M▼ 34.6%
2023 · €-7.11M
2018: €-576k
2019: €1.67M
2020: €445k
2021: €-8.60M
2022: €-4.80M
2023: €-7.11M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€4.11M-€5.27M▲ 28.2%€5.76M▲ 9.3%€7.13M▲ 23.8%€8.28M▲ 16.2%
Equity€60.13M-€66.74M▲ 11.0%€85.53M▲ 28.1%€86.95M▲ 1.7%€86.73M▼ 0.3%
Operating result€980k-€1.87M▲ 91.1%€655k▼ 65.0%€356k▼ 45.7%€118k▼ 67.0%
Net result€3.06M-€6.61M▲ 116%€18.79M▲ 184%€1.43M▼ 92.4%€-218k
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 67% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €110.32M
Fixed assets
€108.96M ▲ 2.2%
Current assets
€1.36M ▼ 59.0%
Equity and liabilities €110.32M
Equity
€86.73M ▼ 0.3%
Debt
€23.59M ▲ 2.8%
Debt's share of the balance-sheet total rises from 20.9% to 21.4%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-0.3%▼
2023 · 1.6%
ROA
-0.2%▼
2023 · 1.3%
Debt ≤ 1 year
€10.93M▲
2023 · €10.43M
Debt > 1 year
€11.68M▼
2023 · €11.84M
Income taxes
€2k▲
2023 · €2k
Staff costs
€2.67M▲
2023 · €2.08M
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 · 2024 against 2023 · 76 lines
Balance sheet
Code20232024
Assets
Total assets20/58€109.91M€110.32M▲
Fixed assets21/28€106.59M€108.96M▲
Intangible fixed assets21€3.22M€2.75M▼
Tangible fixed assets22/27€1.02M€3.86M▲
Land and buildings22€57k€52k▼
Plant, machinery and equipment23€359€67▼
Furniture and vehicles24€195k€154k▼
Other tangible fixed assets26€178k€126k▼
Assets under construction and advance payments27€586k€3.53M▲
Financial fixed assets28€102.36M€102.36M=
Affiliated companies280/1€102.36M€102.36M=
Participating interests280€102.36M€102.36M=
Current assets29/58€3.31M€1.36M▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€3.29M€1.26M▼
Trade receivables40€3.26M€1.21M▼
Other amounts receivable41€33k€46k▲
Cash at bank and in hand54/58€374€27k▲
Deferred charges and accrued income490/1€23k€74k▲
Equity and liabilities
Total equity and liabilities10/49€109.91M€110.32M▲
Equity10/15€86.95M€86.73M▼
Contributions10/11€6.20M€6.20M=
Capital10€6.20M€6.20M=
Issued capital100€6.20M€6.20M=
Reserves13€5.32M€5.38M▲
Non-distributable reserves130/1€620k€620k=
Legal reserve130€620k€620k=
Tax-exempt reserves132€1.20M€842k▼
Distributable reserves133€3.50M€3.92M▲
Profit (loss) carried forward14€75.44M€75.15M▼
Amounts payable17/49€22.96M€23.59M▲
Amounts payable after more than one year17€11.84M€11.68M▼
Financial debts170/4€11.84M€11.68M▼
Subordinated loans170€11.20M€11.20M=
Credit institutions173€640k€480k▼
Amounts payable within one year42/48€10.43M€10.93M▲
Current portion of amounts payable after more than one year42€2.30M€160k▼
Trade debts44€1.25M€1.49M▲
Suppliers440/4€1.25M€1.49M▲
Taxes, remuneration and social security45€355k€419k▲
Taxes450/3€23k€28k▲
Remuneration and social security454/9€332k€391k▲
Other amounts payable47/48€6.51M€8.86M▲
Accrued charges and deferred income492/3€690k€979k▲
Income statement
Code20232024
Operating income70/76A€7.31M€8.40M▲
Turnover70€7.13M€8.28M▲
Other operating income74€182k€121k▼
Operating charges60/66A€6.95M€8.28M▲
Services and other goods61€4.52M€4.73M▲
Remuneration, social security and pensions62€2.08M€2.67M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€344k€873k▲
Other operating charges640/8€10k€6k▼
Operating profit (loss)9901€356k€118k▼
Financial income75/76B€2.06M€1.19M▼
Recurring financial income75€2.06M€1.19M▼
Income from financial fixed assets750€2.03M€1.13M▼
Income from current assets751€0-
Other financial income752/9€36k€59k▲
Financial charges65/66B€993k€1.52M▲
Recurring financial charges65€993k€1.52M▲
Debt charges650€940k€1.48M▲
Other financial charges652/9€52k€40k▼
Non-recurring financial charges66B€1€0▼
Profit (loss) for the period before taxes9903€1.43M€-215k▼
Income taxes67/77€2k€2k▲
Taxes670/3€2k€2k▲
Tax adjustments and reversals of tax provisions77€49€0▼
Profit (loss) for the period9904€1.43M€-218k▼
Transfer from tax-exempt reserves789€801k€356k▼
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€2.23M€138k▼
Appropriation of the result
Profit (loss) to be appropriated9906€76.24M€75.57M▼
Profit (loss) brought forward from the previous period14P€74.01M€75.44M▲
Transfer to equity691/2€801k€421k▼
To other reserves6921€801k€421k▼
Social balance
Average headcount (FTE)908720.326.9▲
The notes to these accounts (84 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-218k ▼115%
Net result drops to €-218k, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2022
31-12
Financial
Highest result since 2018net €18.79M ▲184%
Net result €18.79M, the highest in the series.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
31-12
Financial
Liquidity doublescurrent ratio 1.60
Current ratio from 0.79 to 1.60.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
14 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, Zonnebeke · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kasteelstraat 318980 ZonnebekeGround area
5,624 m²
Building footprint
989 m²
Parcel 33008A0518/00R000, Flanders. Linked by address, not a title deed.
1 establishment unit
POLCAF
since 20002.097.047.948
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33008A0518/00R000 | Flanders | 5,624 m² | 1 · 989 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Ownership & control
1 subsidiaryPOLCAFBE 0466.459.142
controls
Where this company holds controlsubsidiary per the LEI register1
Zonnebeke
Recognitions · licences · registrations
Legal Entity Identifier
549300N8MDY0943BHK02
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Of 1,187 companies in sector 77399 we hold annual accounts for 710. 33 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-07-1999
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
77399Renting and leasing of other machinery, equipment and tangible goods
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@poppies.com
Phone:+32 57460200