ITS POLAK: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ITS POLAK
Largest movements
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Cash +€162,253
up €162,253 (+103.2%), from €157,184 to €319,437
mainly Current investments (+€200,000) and Receivables within one year (+€81,513)
- Receivables within one year -€81,513
down €81,513 (-98.1%), from €83,134 to €1,620
of which Trade receivables: -€81,513
- Tangible fixed assets +€7,203
up €7,203 (+4.8%), from €149,645 to €156,848
of which Land and buildings: +€6,273
- Trade debts -€213,098
down €213,098 (-98.1%), from €217,325 to €4,227
- Accrued charges and deferred income +€49,262
up €49,262, from €0 to €49,262
- Tax, wage and social debts +€39,492
up €39,492 (+94.5%), from €41,774 to €81,267
of which Taxes: +€43,256
- Reserves +€23,318
up €23,318 (+16.9%), from €138,113 to €161,431
of which Distributable reserves: +€23,318
- Current portion of long-term debt -€7,914
down €7,914 (-66.2%), from €11,953 to €4,039
- Gross operating margin -€45,185
down €45,185 (-26.8%), from €168,309 to €123,124
- Staff costs -€25,860
down €25,860 (-41.5%), from €62,244 to €36,384
- Financial charges -€14,693
down €14,693 (-53.4%), from €27,514 to €12,821
- Financial income -€10,297
down €10,297 (-81.3%), from €12,659 to €2,361
- Depreciation -€9,920
down €9,920 (-23.5%), from €42,134 to €32,214
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €620,790 | €503,207 | -€117,582 | -18.9% |
| Fixed assets | 21/28 | €149,645 | €156,848 | +€7,203 | +4.8% |
| Tangible fixed assets | 22/27 | €149,645 | €156,848 | +€7,203 | +4.8% |
| Land and buildings | 22 | €124,929 | €131,202 | +€6,273 | +5.0% |
| Plant, machinery and equipment | 23 | €12,068 | €10,801 | -€1,268 | -10.5% |
| Furniture and vehicles | 24 | €9,088 | €12,848 | +€3,760 | +41.4% |
| Other tangible fixed assets | 26 | €3,560 | €1,997 | -€1,563 | -43.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €471,145 | €346,360 | -€124,785 | -26.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €83,134 | €1,620 | -€81,513 | -98.1% |
| Trade receivables | 40 | €83,134 | €1,620 | -€81,513 | -98.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €157,184 | €319,437 | +€162,253 | +103.2% |
| Deferred charges and accrued income | 490/1 | €30,827 | €25,302 | -€5,525 | -17.9% |
| Total equity and liabilities | 10/49 | €620,790 | €503,207 | -€117,582 | -18.9% |
| Equity | 10/15 | €177,393 | €200,711 | +€23,318 | +13.1% |
| Contributions | 10/11 | €39,280 | €39,280 | = | 0.0% |
| Reserves | 13 | €138,113 | €161,431 | +€23,318 | +16.9% |
| Tax-exempt reserves | 132 | €7,600 | €7,600 | = | 0.0% |
| Distributable reserves | 133 | €130,513 | €153,831 | +€23,318 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €7,762 | €5,467 | -€2,295 | -29.6% |
| Provisions for liabilities and charges | 160/5 | €7,762 | €5,467 | -€2,295 | -29.6% |
| Environmental obligations | 163 | €7,762 | €5,467 | -€2,295 | -29.6% |
| Amounts payable | 17/49 | €435,635 | €297,029 | -€138,605 | -31.8% |
| Amounts payable after more than one year | 17 | €4,039 | €0 | -€4,039 | -100.0% |
| Financial debts | 170/4 | €4,039 | €0 | -€4,039 | -100.0% |
| Amounts payable within one year | 42/48 | €431,596 | €247,767 | -€183,829 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €11,953 | €4,039 | -€7,914 | -66.2% |
| Trade debts | 44 | €217,325 | €4,227 | -€213,098 | -98.1% |
| Suppliers | 440/4 | €217,325 | €4,227 | -€213,098 | -98.1% |
| Taxes, remuneration and social security | 45 | €41,774 | €81,267 | +€39,492 | +94.5% |
| Taxes | 450/3 | €28,729 | €71,985 | +€43,256 | +150.6% |
| Remuneration and social security | 454/9 | €13,045 | €9,281 | -€3,764 | -28.9% |
| Other amounts payable | 47/48 | €160,543 | €158,234 | -€2,309 | -1.4% |
| Accrued charges and deferred income | 492/3 | €0 | €49,262 | +€49,262 | |
| Non-recurring operating income | 76A | €5,882 | €0 | -€5,882 | -100.0% |
| Remuneration, social security and pensions | 62 | €62,244 | €36,384 | -€25,860 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,134 | €32,214 | -€9,920 | -23.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,699 | -€2,295 | -€596 | -35.1% |
| Other operating charges | 640/8 | €7,814 | €6,469 | -€1,345 | -17.2% |
| Non-recurring operating charges | 66A | €1,173 | €2,784 | +€1,611 | +137.3% |
| Gross operating margin | 9900 | €168,309 | €123,124 | -€45,185 | -26.8% |
| Operating profit (loss) | 9901 | €56,643 | €47,569 | -€9,075 | -16.0% |
| Financial income | 75/76B | €12,659 | €2,361 | -€10,297 | -81.3% |
| Recurring financial income | 75 | €12,659 | €2,361 | -€10,297 | -81.3% |
| Financial charges | 65/66B | €27,514 | €12,821 | -€14,693 | -53.4% |
| Recurring financial charges | 65 | €27,514 | €12,821 | -€14,693 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €41,788 | €37,109 | -€4,679 | -11.2% |
| Income taxes | 67/77 | €14,194 | €13,791 | -€403 | -2.8% |
| Profit (loss) for the period | 9904 | €27,594 | €23,318 | -€4,276 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,594 | €23,318 | -€4,276 | -15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.