Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 43 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 26.3 to 22.7.
-
Busy address KBO
17 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
PPG Belgium from Koekelare, company number BE0419321102, closed financial year 2025 with a result of € 10.8 million after tax. For that financial year PPG Belgium recorded revenue of € 33.4 million and equity of € 46.6 million. Compared with financial year 2024, the result moved from € 9.3 million to € 10.8 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ 46.6 million
▲ 30% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 10.8 million
▲ 16% vs 2024
Profit after tax over the fiscal year.
€ 186,898
▲ 52% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 46.2 million.
People and assets in 2025
22.7
▼ 2.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.9 million
▲ 4% vs 2024
€ 84,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 39,789
▼ 32% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 36.1 million
▼ 17% vs 2024
€ 9.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 2.1 million
▲ 69% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 28 days on average.
€ 2.1 million
▲ 61% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 32,278,471 | € 33,439,267 | ▲ 4% |
| Gross margin | € 3,588,588 | € 3,745,837 | - | - | |
| Profit after taxes | € 7,941,863 | € 3,455,411 | € 9,307,100 | € 10,756,096 | ▲ 16% |
| Equity | € 23,033,501 | € 26,488,911 | € 35,796,012 | € 46,552,107 | ▲ 30% |
| Total debts | € 46,674,369 | € 52,196,917 | € 54,717,127 | € 40,518,640 | ▼ 26% |
| Cash | € 1,301,740 | € 115,733 | € 123,060 | € 186,898 | ▲ 52% |
| Retained profit | € 22,659,026 | € 26,114,436 | € 35,421,537 | € 46,177,632 | ▲ 30% |
| Bank debt | € 38,227,121 | € 45,041,453 | € 43,324,071 | € 36,087,821 | ▼ 17% |
| Balance sheet total | € 69,933,273 | € 79,222,280 | € 90,967,764 | € 87,508,190 | ▼ 4% |
| Employees (FTE) | 27.7 | 26.3 | 25.5 | 22.7 | ▼ 2.8 |
Key figures of PPG Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PPG Belgium?
What happened at PPG Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Smardix BV stepped down as director. NBB
- Pollet Pool Group NV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 10.8 million (▲ 16% vs 2024). Source: NBB ↗
- Smardix BV became a director. NBB
- Pollet Pool Group NV became a director. NBB
- New establishment in Koekelare. KBO
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
In short
From € 7.9 million profit in 2022 to € 10.8 million profit in 2025.
Paid € 2.8 million in corporate taxes since 2022.
Best year ever: 2025, with € 10.8 million profit.
On average € 142,400 of value added per employee in 2023.
Management
The stake of POLLET WATER GROUP, POLLET POOL GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PPG BelgiumThe shares are held by POLLET WATER GROUP (100%) and POLLET POOL GROUP (100%). It owns 100% of NIVEKO s.r.o., 100% of Impol, 100% of POMAZ BV, 100% of AFP Holding, 100% of Welldana A/S and 100% of A.M. Adams Holding Ltd itself.
Directors
According to the 2025 annual accounts
Director · represented by Taillieu Dimitri
Also active at: TERBASSENWEI, STERIMA, EURAQUA-EUROPE, UNIMID, ALTRANS, POLLET GROUP, MICRON, SUKO +14 more
since 2024 · until 2030
Voorzitter van het Bestuursorgaan · represented by Pollet Sofie
Also active at: T.E.P.
since 2024 · until 2030
Shareholders
100%
100%
Participations
NIVEKO s.r.o.
100%
100%
POMAZ BV
100%
100%
Welldana A/S
100%
A.M. Adams Holding Ltd
100%
Establishments
Establishment units
Physical locations of this company
Brouwerijstraat 14
8680 Koekelare
Textielstraat 13
8790 Waregem
Active since 26 April 1979
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 17 companies are registered at this address.
All companies at this address →TERBASSENWEI same network
€ 3 million gross margin · 2025
UNIMID same network
€ -249,093 gross margin · 2025
ALTRANS same network
€ 824,938 gross margin · 2025
POLLET GROUP same network
€ 7.8 million revenue · 2025
BAYARD EUROPE
€ 1.4 million gross margin · 2025
+12 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Mimecast
Hosting
WEEBLY - Weebly, Inc., US
Domain
Domain
polletgroup.com
Registered
2016-04-12
Registrar
Ascio Technologies, Inc. Danmark - Filial af Ascio technologies, Inc. USA
Expires
2026-04-12
Website info
Features
Security
Details
- Company number
- 0419.321.102
- VAT number
- BE 0419.321.102
- Registered office
- Brouwerijstraat 14, 8680 Koekelare
- Names & denominations
- PPG Belgium · PPG
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 March 1979
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- polletgroup.com
- Activities · NACE
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