ACTIVE

POLYCASA

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Financial year 2025 · closed on 31/12/2025

Net result

4,5 M €

-22.1% YoY

Revenue

41,5 M €

-33.6% YoY

Equity

100,4 M €

-0.9% YoY

Workforce

30,8 ETP

-5.8% YoY

What does POLYCASA do?

POLYCASA is a Public limited company incorporated in 1967. Its main activity is: Manufacture of plastic plates, sheets, tubes and profiles. Its registered office is in Geel. It employs on average 30,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.899.576

Incorporation

24/01/1967

Legal form

Public limited company

Registered office

Van-Doornelaan 2 box A
2440 Geel · FlandreSee on map

Contributed capital

93 972 202,00 €

Latest accounts

31/12/2025

Average workforce

30,8 ETP

Activities (NACE)

22210Manufacture of plastic plates, sheets, tubes and profiles· main 22210Manufacture of plastic plates, sheets, tubes and profiles 25210Manufacture of central heating radiators and boilers 46900Non-specialised wholesale trade 46900Non-specialised wholesale trade

Joint committees (4)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	41,5 M €	-33.6%	62,4 M €	-0.9%	63 M €	-18.4%	77,2 M €	-2.4%	79,1 M €	-4.3%	82,7 M €	+12.1%	73,8 M €	-8.2%	80,4 M €	-9.4%	88,8 M €	+1.1%	87,8 M €	+8.9%	80,7 M €	-17.0%	97,2 M €	+12.1%	86,8 M €	-3.2%	89,7 M €	+12.0%	80,1 M €	-6.3%	85,5 M €	+11.2%	76,9 M €	-25.7%	103,5 M €	+0.0%	103,5 M €	+19.1%	86,9 M €
EBITDA	-504,2 k €	+19.6%	-627,4 k €	-661%	111,9 k €	+140%	-280,4 k €	-107%	3,9 M €	-58.7%	9,3 M €	+289%	2,4 M €	+8.8%	2,2 M €	-29.5%	3,1 M €	+36.4%	2,3 M €	+224%	-1,9 M €	+9.5%	-2 M €	+64.4%	-5,7 M €	-76.1%	-3,3 M €	-1405%	250 k €	-89.1%	2,3 M €	-23.2%	3 M €	+240%	-2,1 M €	+30.5%	-3,1 M €	-97.4%	-1,5 M €
Operating result	-392,6 k €	+3.2%	-405,6 k €	-87131%	466 €	+100%	-147,3 k €	-104%	4 M €	-58.8%	9,6 M €	+250%	2,7 M €	+31.9%	2,1 M €	-35.5%	3,2 M €	+25.8%	2,6 M €	+229%	-2 M €	+16.0%	-2,4 M €	+61.4%	-6,1 M €	-79.8%	-3,4 M €	-77508%	4,4 k €	-99.8%	2 M €	+1.7%	2 M €	+178%	-2,6 M €	+28.2%	-3,6 M €	-81.7%	-2 M €
Net result	4,5 M €	-22.1%	5,8 M €	+94.6%	3 M €	+75.4%	1,7 M €	-75.4%	6,9 M €	-46.2%	12,8 M €	+56.6%	8,2 M €	+146%	3,3 M €	-78.0%	15,2 M €	-49.7%	30,1 M €	+274%	-17,3 M €	-332%	7,5 M €	+163%	-11,8 M €	-9.9%	-10,8 M €	-71.6%	-6,3 M €	+80.5%	-32,2 M €	-3760%	-834,8 k €	-107%	11,5 M €	+229%	-9 M €	-28.4%	-7 M €
Balance sheet
Equity	100,4 M €	-0.9%	101,3 M €	+3.0%	98,4 M €	-3.7%	102,2 M €	+1.7%	100,5 M €	+7.4%	93,6 M €	+15.9%	80,8 M €	+11.3%	72,6 M €	+4.8%	69,2 M €	+28.0%	54,1 M €	+126%	24 M €	-42.0%	41,3 M €	+22.1%	33,8 M €	-27.0%	46,3 M €	-18.9%	57,1 M €	+552%	8,8 M €	-78.6%	41 M €	-2.0%	41,8 M €	+38.1%	30,3 M €	-22.9%	39,3 M €
Total assets	110,3 M €	-2.2%	112,8 M €	+3.6%	108,8 M €	-1.7%	110,7 M €	-1.0%	111,8 M €	+4.0%	107,5 M €	-4.1%	112 M €	-3.9%	116,5 M €	-6.6%	124,7 M €	+3.8%	120,2 M €	-8.6%	131,6 M €	-43.5%	232,9 M €	-17.0%	280,5 M €	+33.9%	209,5 M €	+1.7%	206,1 M €	+10.1%	187,3 M €	-12.5%	214 M €	-3.5%	221,7 M €	+6.7%	207,7 M €	+4.9%	198,1 M €
Cash	2,7 M €	+8.3%	2,5 M €	-48.7%	4,9 M €	-20.3%	6,2 M €	+97.0%	3,1 M €	-48.2%	6 M €	+148%	2,4 M €	-7.2%	2,6 M €	+180%	939,4 k €	-47.4%	1,8 M €	-41.8%	3,1 M €	+413%	597,5 k €	-49.7%	1,2 M €	-25.6%	1,6 M €	+388%	327,8 k €	-91.9%	4 M €	+56.3%	2,6 M €	-21.9%	3,3 M €	+164%	1,3 M €	-32.2%	1,8 M €
Debts	9,9 M €	-13.5%	11,5 M €	+9.9%	10,4 M €	+23.0%	8,5 M €	-24.1%	11,2 M €	-18.5%	13,7 M €	-55.9%	31,1 M €	-29.3%	44 M €	-20.8%	55,5 M €	-16.1%	66,1 M €	-38.6%	107,6 M €	-43.7%	191,3 M €	-22.4%	246,4 M €	+51.3%	162,9 M €	+9.6%	148,7 M €	-16.6%	178,2 M €	+3.2%	172,7 M €	-3.8%	179,5 M €	+1.4%	177,1 M €	+11.8%	158,4 M €
Other
Workforce	30,8 ETP	-5.8%	32,7 ETP	-6.3%	34,9 ETP	0.0%	34,9 ETP	+1.7%	34,3 ETP	+3.9%	33,0 ETP	+3.4%	31,9 ETP	+4.9%	30,4 ETP	-6.5%	32,5 ETP	+9.4%	29,7 ETP	-3.3%	30,7 ETP	+5.1%	29,2 ETP	+33.3%	21,9 ETP	+17.1%	18,7 ETP	+5.6%	17,7 ETP	-14.1%	20,6 ETP	-8.8%	22,6 ETP	-24.2%	29,8 ETP	+3.1%	28,9 ETP	-0.7%	29,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 35 ended

Active mandates

Alexander Lohse

Mandate

Active

Peter Nachbur

Mandate

Active

Ended mandates

Alexander Lohse

Director · since 11 juin 2021 · until 10 juin 2027

Ended

Joachim Werner

Director · since 11 juin 2021 · until 10 juin 2027

Ended

Joachim Werner

Director · since 10 juin 2021 · until 10 juin 2027

Ended

Alexander Lohse

Director · since 01 avril 2015 · until 31 mars 2021

Ended

At this address

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DE CEUSTER NXT● Active	0428.091.385

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	15/06/2026	18/06/2025	10/06/2024	30/06/2023	30/06/2022	15/06/2021
General meeting	27/05/2026	11/06/2025	29/05/2024	30/06/2023	30/06/2022	11/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

58 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/05/2026	15/06/2026	Dutch	PDF
Full model	31/12/2024	11/06/2025	18/06/2025	Dutch	PDF
Full model	31/12/2023	29/05/2024	10/06/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	30/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	30/06/2022	Dutch	PDF
Full model	31/12/2020	11/06/2021	15/06/2021	Dutch	PDF
Full model	31/12/2019	27/05/2020	16/06/2020	Dutch	PDF
Full model	31/12/2018	26/06/2019	28/06/2019	Dutch	PDF
Full model	31/12/2017	13/06/2018	21/06/2018	Dutch	PDF
Full model	31/12/2016	28/06/2017	03/07/2017	Dutch	PDF
Full model	31/12/2015	25/05/2016	04/07/2016	Dutch	PDF
Full model	31/12/2014	31/03/2015	28/04/2015	Dutch	PDF
Full model	31/12/2013	28/05/2014	06/06/2014	Dutch	PDF
Full model	31/12/2012	28/06/2013	02/07/2013	Dutch	PDF
m121-f-p	31/12/2012	01/01/9999	20/02/2014	Dutch	PDF
Full model	31/12/2011	29/06/2012	03/07/2012	Dutch	PDF
m121-f-p	31/12/2011	01/01/9999	01/10/2012	Dutch	PDF
Full model	31/12/2010	09/05/2012	15/05/2012	Dutch	PDF
m121-f-p	31/12/2010	01/01/9999	21/05/2012	Dutch	PDF
Full model	31/12/2009	26/05/2010	07/07/2010	Dutch	PDF
m121-f-p	31/12/2009	01/01/9999	12/07/2011	Dutch	PDF
Full model	31/12/2008	27/05/2009	15/06/2009	Dutch	PDF
m121-f-p	31/12/2008	01/01/9999	26/02/2010	Dutch	PDF
Full model	31/12/2007	28/05/2008	09/06/2008	Dutch	PDF

View all 58 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 35 ended

Active mandates

Alexander Lohse

Mandate

Active

Peter Nachbur

Mandate

Active

Ended mandates

Alexander Lohse

Director · since 11 juin 2021 · until 10 juin 2027

Ended

Joachim Werner

Director · since 11 juin 2021 · until 10 juin 2027

Ended

Joachim Werner

Director · since 10 juin 2021 · until 10 juin 2027

Ended

Alexander Lohse

Director · since 01 avril 2015 · until 31 mars 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other24/10/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates03/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/12/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/11/2015
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20254,5 M €↓
28/10/2025
nominationPeter Nachbur — bestuurder
2024
Annual accounts 20245,8 M €↑
23/10/2024
nominationBenjamin Burkard — bestuurder
05/06/2024
reconductionKPMG Bedrijfsrevisoren BV/SRL — commissaris
05/06/2024
nominationDieter Vanloock — vaste vertegenwoordiger
2023
Annual accounts 20233 M €↑
2022
Annual accounts 20221,7 M €↓
2021
Annual accounts 20216,9 M €↓
2020
Annual accounts 202012,8 M €↑
2019
Annual accounts 20198,2 M €↑
2018
Annual accounts 20183,3 M €↓
2017
Annual accounts 201715,2 M €↓
2016
Annual accounts 201630,1 M €↑
2015
Annual accounts 2015-17,3 M €↓
2014
Annual accounts 20147,5 M €↑
2013
Annual accounts 2013-11,8 M €↓
2012
Annual accounts 2012-10,8 M €↓
2011
Annual accounts 2011-6,3 M €↑
2010
Annual accounts 2010-32,2 M €↓
2009
Annual accounts 2009-834,8 k €↓
2008
Annual accounts 200811,5 M €↑
2007
Annual accounts 2007-9 M €↓
2006
Annual accounts 2006-7 M €
24/01/1967
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

POLYCASA

Overview

What does POLYCASA do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline