ACTIVE

POLYCOM

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Financial year 2025 · closed on 31/12/2025

Net result

-15,8 k €

-514.3% YoY

Gross margin

93,9 k €

-19.6% YoY

Equity

1,6 M €

-3.2% YoY

What does POLYCOM do?

POLYCOM is a Public limited company incorporated in 1997. Its main activity is: Management consultancy activities. Its registered office is in Forest.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0461.562.523

Incorporation

01/10/1997

Legal form

Public limited company

Registered office

Rue de l'Escrime 38
1190 Forest · BruxellesSee on map

Contributed capital

1 200 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 68201Rental and operating of own or leased real estate 68201Rental and operating of own or leased real estate

Signals

Solid equityLow riskPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	93,9 k €	-19.6%	116,7 k €	-54.6%	256,9 k €	+6.3%	241,6 k €	+0.4%	240,6 k €	+9.5%	219,8 k €	+9.2%	201,3 k €	+18.0%	170,6 k €	+12.8%	151,3 k €	+5.8%	143 k €	+15.2%	124,1 k €	+267%	-74,2 k €	+38.4%	-120,4 k €	-686%	20,6 k €	-2.7%	21,1 k €	+586%	3,1 k €	+431%	-931,6 €	-107%	14,2 k €	-56.2%	32,3 k €
EBITDA	76,3 k €	-24.2%	100,6 k €	-58.4%	242,1 k €	+6.0%	228,3 k €	+0.2%	227,8 k €	+10.0%	207,1 k €	+9.6%	189 k €	+19.7%	157,9 k €	+12.5%	140,3 k €	+6.9%	131,2 k €	+14.8%	114,3 k €	+239%	-82 k €	+35.4%	-126,9 k €	-898%	15,9 k €	+29.2%	12,3 k €	+300%	3,1 k €	+161%	-5,1 k €	-151%	9,9 k €	-69.1%	32,2 k €
Operating result	-16,6 k €	-264%	10,1 k €	-93.2%	147,8 k €	+12.1%	131,9 k €	-0.9%	133,1 k €	+21.8%	109,3 k €	+17.4%	93,1 k €	+39.8%	66,6 k €	+22.2%	54,5 k €	+3.0%	52,9 k €	+8.4%	48,8 k €	+130%	-162,9 k €	-0.0%	-162,9 k €	-4910%	3,4 k €	-14.6%	4 k €	+174%	-5,3 k €	+60.3%	-13,5 k €	-1427%	1 k €	-94.3%	17,9 k €
Net result	-15,8 k €	-514%	3,8 k €	-96.2%	100,7 k €	+2.8%	97,9 k €	+5.8%	92,6 k €	+1.9%	90,8 k €	+7.4%	84,5 k €	+52.9%	55,3 k €	+42.7%	38,7 k €	-4.2%	40,4 k €	+28.4%	31,5 k €	+118%	-173,9 k €	-361%	66,7 k €	+1882%	3,4 k €	-14.4%	3,9 k €	+173%	-5,4 k €	+60.3%	-13,5 k €	-2256%	626 €	-95.7%	14,4 k €
Balance sheet
Equity	1,6 M €	-3.2%	1,6 M €	-1.9%	1,7 M €	+3.0%	1,6 M €	+4.2%	1,6 M €	+5.4%	1,5 M €	+4.3%	1,4 M €	+8.9%	1,3 M €	+4.4%	1,2 M €	+5.3%	1,2 M €	+3.5%	1,1 M €	+2.8%	1,1 M €	-13.0%	1,3 M €	+400%	255,5 k €	+1.3%	252,1 k €	+1.6%	248,2 k €	-2.1%	253,6 k €	-5.1%	267,1 k €	+0.2%	266,4 k €
Total assets	1,9 M €	+0.9%	1,8 M €	-5.7%	2 M €	-2.1%	2 M €	+0.7%	2 M €	-4.3%	2,1 M €	-2.5%	2,1 M €	-2.7%	2,2 M €	-1.5%	2,2 M €	-3.0%	2,3 M €	+1.1%	2,3 M €	-2.8%	2,3 M €	+17.2%	2 M €	+664%	259,5 k €	+0.5%	258,4 k €	-0.4%	259,5 k €	-2.2%	265,3 k €	-2.9%	273,2 k €	-3.6%	283,4 k €
Cash	54,8 k €	+186%	19,2 k €	-62.3%	50,8 k €	+63.7%	31 k €	+115%	14,5 k €	-45.6%	26,6 k €	+474%	4,6 k €	+47.3%	3,1 k €	-16.6%	3,8 k €	+3024%	120,7 €	-50.9%	245,9 €	-57.0%	571,8 €	-51.6%	1,2 k €	-95.4%	25,7 k €	+82.7%	14,1 k €	+106%	6,8 k €	+62.2%	4,2 k €	+14.9%	3,7 k €	-18.7%	4,5 k €
Debts	201,5 k €	+57.3%	128,1 k €	-37.5%	205 k €	-29.6%	291,4 k €	-15.0%	342,7 k €	-32.2%	505,4 k €	-18.2%	617,6 k €	-18.4%	757,1 k €	-9.8%	839,8 k €	-10.8%	941,6 k €	-1.1%	952,5 k €	-8.7%	1 M €	+103%	513,7 k €	+12622%	4 k €	-16.5%	4,8 k €	+459%	865,3 €	-34.2%	1,3 k €	-78.5%	6,1 k €	-64.1%	17 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 14 ended

Active mandates

Abir VLODAVER

Director · since 20 février 2013 · until 12 juin 2029

Active

Iris VLODAVER

Managing director · since 18 février 2013 · until 12 juin 2029

Active

Michèle DHYNES

Director · since 03 décembre 2012 · until 12 juin 2029

Active

Ended mandates

Michèle DHYNES

Managing director · since 11 juin 2013 · until 11 juin 2019

Ended

Yitshaq VLODAVER

Director · since 20 février 2013 · until 12 juin 2029

Ended

Yitshaq VLODAVER

Managing director · since 20 février 2013 · until 11 juin 2019

Ended

Yitshaq VLODAVER

Managing director · since 20 février 2013 · until 10 juin 2025

Ended

At this address

Other companies at this address

Company	CBE no.
COMPUTERS and MANAGEMENT TECHNOLOGIES● Active	0444.514.277
CTI GROUP● Active	0698.780.476
ICHI● Active	0463.857.958
TECIMMO● Active	0632.689.131

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	24/07/2026	27/06/2025	03/07/2024	28/07/2023	25/08/2022	29/08/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	13/06/2023	14/06/2022	08/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	09/06/2026	24/07/2026	French	PDF
Micro model	31/12/2024	10/06/2025	27/06/2025	French	PDF
Micro model	31/12/2023	11/06/2024	03/07/2024	French	PDF
Micro model	31/12/2022	13/06/2023	28/07/2023	French	PDF
Micro model	31/12/2021	14/06/2022	25/08/2022	French	PDF
Micro model	31/12/2020	08/06/2021	29/08/2021	French	PDF
Micro model	31/12/2019	18/08/2020	29/10/2020	French	PDF
Micro model	31/12/2018	11/06/2019	30/08/2019	French	PDF
Micro model	31/12/2017	12/06/2018	29/08/2018	French	PDF
Micro model	31/12/2016	16/05/2017	18/07/2017	French	PDF
Abridged model	31/12/2015	14/06/2016	19/07/2016	French	PDF
Abridged model	31/12/2014	09/06/2015	30/06/2015	French	PDF
Abridged model	31/12/2013	10/06/2014	25/06/2014	French	PDF
Abridged model	31/12/2012	20/02/2013	25/07/2013	French	PDF
Abridged model	30/06/2011	05/12/2011	21/12/2011	French	PDF
Abridged model	30/06/2010	06/12/2010	14/12/2010	French	PDF
Abridged model	30/06/2009	07/12/2009	15/01/2010	French	PDF
Abridged model	30/06/2008	01/12/2008	31/12/2008	French	PDF
Abridged model	30/06/2007	04/12/2007	15/01/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 3 active · 14 ended

Active mandates

Abir VLODAVER

Director · since 20 février 2013 · until 12 juin 2029

Active

Iris VLODAVER

Managing director · since 18 février 2013 · until 12 juin 2029

Active

Michèle DHYNES

Director · since 03 décembre 2012 · until 12 juin 2029

Active

Ended mandates

Michèle DHYNES

Managing director · since 11 juin 2013 · until 11 juin 2019

Ended

Yitshaq VLODAVER

Director · since 20 février 2013 · until 12 juin 2029

Ended

Yitshaq VLODAVER

Managing director · since 20 février 2013 · until 11 juin 2019

Ended

Yitshaq VLODAVER

Managing director · since 20 février 2013 · until 10 juin 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/06/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates28/10/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office14/11/2016
SIEGE SOCIAL
PDF
Mandates05/07/2013
DENOMINATION - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates22/05/2013
DEMISSIONS, NOMINATIONS
PDF
Capital / shares09/02/2012
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office16/12/2011
SIEGE SOCIAL
PDF
Mandates04/10/2007
DEMISSIONS, NOMINATIONS - SIEGE SOCIAL
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 2025-15,8 k €↓
2024
Annual accounts 20243,8 k €↓
2023
Annual accounts 2023100,7 k €↑
2022
Annual accounts 202297,9 k €↑
2021
Annual accounts 202192,6 k €↑
2020
Annual accounts 202090,8 k €↑
2019
Annual accounts 201984,5 k €↑
2018
Annual accounts 201855,3 k €↑
2017
Annual accounts 201738,7 k €↓
2016
Annual accounts 201640,4 k €↑
2015
Annual accounts 201531,5 k €↑
2014
Annual accounts 2014-173,9 k €↓
2013
Annual accounts 201366,7 k €↑
2012
Annual accounts 20123,4 k €↓
2012
Name changePOLYCOM
2011
Annual accounts 20113,9 k €↑
2010
Annual accounts 2010-5,4 k €↑
2009
Annual accounts 2009-13,5 k €↓
2008
Annual accounts 2008626 €↓
2007
Annual accounts 200714,4 k €
2007
Name changePOLYCOM et-ou N.D.I.
01/10/1997
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

POLYCOM

Overview

What does POLYCOM do?

Trend over 19 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