Poels: what changed
Two financial 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.
What changed
Poels
NACE 43.310, Plastering work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.8m-€641,384
Equity
€5.5m
2024 · €5.5m+€16,617
Cash
€1.5m
2024 · €2.0m-€461,200
Balance sheet total
€10.6m
2024 · €10.5m+€111,558
Largest movements
Assets
- Cash -€461,200
down €461,200 (-23.1%), from €2.0m to €1.5m
mainly Contributions, distributions and other (-€1.1m) and Stocks and contracts (-€376,367)
- Stocks and contracts +€376,367
up €376,367 (+32.0%), from €1.2m to €1.6m
- Receivables within one year +€201,282
up €201,282 (+3.1%), from €6.5m to €6.7m
of which Other amounts receivable: +€486,208
Equity and liabilities
- Short-term financial debts +€500,000
new in 2025: €500,000
- Other debts -€200,000
no longer reported in 2025 (was €200,000)
- Tax, wage and social debts -€143,038
down €143,038 (-22.1%), from €646,021 to €502,983
of which Taxes: -€318,027
Income statement
- Goods and materials +€1.6m
up €1.6m (+8.3%), from €18.8m to €20.4m
of which Purchases: +€1.5m
- Turnover +€1.4m
up €1.4m (+5.2%), from €26.2m to €27.6m
- Staff costs +€543,112
up €543,112 (+18.6%), from €2.9m to €3.5m
From the 2024 result to the 2025 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.
Result 2024
€1.8m
Turnover
+€1.4m
Other operating income
+€9,223
Goods and materials
-€1.6m
Services and other goods
-€129,812
Staff costs
-€543,112
Depreciation
-€8,529
Other operating charges
-€19,697
Other operating items
-€8,057
Financial income
+€47,721
Financial charges
-€4,914
Taxes
+€226,686
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€375,105
Investment
-€258,172
Financing
-€578,132
Cash 2024
€2.0m
From operations (derived)
+€375,105
Net result for the year
+€1.1m
Depreciation
+€289,972
Stocks and contracts
-€376,367
Receivables within one year
-€201,282
Deferred charges and accrued income
-€26,908
Trade debts
-€84,787
Tax, wage and social debts
-€143,038
Other debts
-€200,000
Accrued charges and deferred income
+€898
Investment (derived)
-€258,172
Investment in fixed assets (net)
-€258,172
Financing
-€578,132
Debts after one year
+€12,587
Current portion of long-term debt
+€9,280
Short-term financial debts
+€500,000
Contributions, distributions and other
-€1.1m
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,466,631 | €10,578,188 | +€111,558 | +1.1% |
| Fixed assets | 21/28 | €790,733 | €758,933 | -€31,800 | -4.0% |
| Intangible fixed assets | 21 | €20,272 | €12,189 | -€8,083 | -39.9% |
| Tangible fixed assets | 22/27 | €741,096 | €745,879 | +€4,784 | +0.6% |
| Land and buildings | 22 | - | €9,273 | +€9,273 | |
| Plant, machinery and equipment | 23 | €267,537 | €215,068 | -€52,469 | -19.6% |
| Furniture and vehicles | 24 | €139,308 | €116,718 | -€22,590 | -16.2% |
| Leasing and similar rights | 25 | €180,649 | €240,855 | +€60,206 | +33.3% |
| Other tangible fixed assets | 26 | €153,601 | €163,965 | +€10,364 | +6.7% |
| Financial fixed assets | 28 | €29,365 | €865 | -€28,500 | -97.1% |
| Other financial fixed assets | 284/8 | €29,365 | €865 | -€28,500 | -97.1% |
| Amounts receivable and cash guarantees | 285/8 | €29,365 | €865 | -€28,500 | -97.1% |
| Current assets | 29/58 | €9,675,898 | €9,819,255 | +€143,358 | +1.5% |
| Stocks and contracts in progress | 3 | €1,176,257 | €1,552,624 | +€376,367 | +32.0% |
| Stocks | 30/36 | €1,176,257 | €1,552,624 | +€376,367 | +32.0% |
| Goods purchased for resale | 34 | €1,176,257 | €1,552,624 | +€376,367 | +32.0% |
| Amounts receivable within one year | 40/41 | €6,463,643 | €6,664,924 | +€201,282 | +3.1% |
| Trade receivables | 40 | €6,252,389 | €5,967,463 | -€284,926 | -4.6% |
| Other amounts receivable | 41 | €211,254 | €697,461 | +€486,208 | +230% |
| Cash at bank and in hand | 54/58 | €1,998,856 | €1,537,657 | -€461,200 | -23.1% |
| Deferred charges and accrued income | 490/1 | €37,142 | €64,050 | +€26,908 | +72.4% |
| Total equity and liabilities | 10/49 | €10,466,631 | €10,578,188 | +€111,558 | +1.1% |
| Equity | 10/15 | €5,471,456 | €5,488,073 | +€16,617 | +0.3% |
| Contributions | 10/11 | €460,000 | €460,000 | = | 0.0% |
| Capital | 10 | €460,000 | €460,000 | = | 0.0% |
| Issued capital | 100 | €460,000 | €460,000 | = | 0.0% |
| Reserves | 13 | €5,011,456 | €5,028,073 | +€16,617 | +0.3% |
| Non-distributable reserves | 130/1 | €46,096 | €46,096 | = | 0.0% |
| Legal reserve | 130 | €46,000 | €46,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €96 | €96 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,360 | €632,860 | +€631,500 | +46,436% |
| Distributable reserves | 133 | €4,964,001 | €4,349,117 | -€614,883 | -12.4% |
| Amounts payable | 17/49 | €4,995,174 | €5,090,115 | +€94,941 | +1.9% |
| Amounts payable after more than one year | 17 | €164,426 | €177,013 | +€12,587 | +7.7% |
| Financial debts | 170/4 | €164,426 | €177,013 | +€12,587 | +7.7% |
| Leasing and similar obligations | 172 | €113,242 | €166,712 | +€53,470 | +47.2% |
| Credit institutions | 173 | €51,184 | €10,301 | -€40,883 | -79.9% |
| Amounts payable within one year | 42/48 | €4,830,749 | €4,912,204 | +€81,455 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €105,325 | €114,606 | +€9,280 | +8.8% |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €3,879,402 | €3,794,615 | -€84,787 | -2.2% |
| Suppliers | 440/4 | €3,879,402 | €3,794,615 | -€84,787 | -2.2% |
| Taxes, remuneration and social security | 45 | €646,021 | €502,983 | -€143,038 | -22.1% |
| Taxes | 450/3 | €337,975 | €19,947 | -€318,027 | -94.1% |
| Remuneration and social security | 454/9 | €308,047 | €483,036 | +€174,989 | +56.8% |
| Other amounts payable | 47/48 | €200,000 | - | -€200,000 | |
| Accrued charges and deferred income | 492/3 | - | €898 | +€898 | |
| Operating income | 70/76A | €26,417,002 | €27,780,289 | +€1.4m | +5.2% |
| Turnover | 70 | €26,209,762 | €27,568,880 | +€1.4m | +5.2% |
| Other operating income | 74 | €202,185 | €211,408 | +€9,223 | +4.6% |
| Non-recurring operating income | 76A | €5,054 | - | -€5,054 | |
| Operating charges | 60/66A | €24,073,856 | €26,348,019 | +€2.3m | +9.4% |
| Goods for resale, raw materials and consumables | 60 | €18,836,490 | €20,406,500 | +€1.6m | +8.3% |
| Purchases | 600/8 | €19,269,766 | €20,782,868 | +€1.5m | +7.9% |
| Change in stocks: decrease (increase) | 609 | -€433,276 | -€376,367 | +€56,909 | +13.1% |
| Services and other goods | 61 | €2,034,733 | €2,164,545 | +€129,812 | +6.4% |
| Remuneration, social security and pensions | 62 | €2,912,325 | €3,455,437 | +€543,112 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281,443 | €289,972 | +€8,529 | +3.0% |
| Other operating charges | 640/8 | €8,585 | €28,282 | +€19,697 | +229% |
| Non-recurring operating charges | 66A | €280 | €3,283 | +€3,003 | +1,072% |
| Operating profit (loss) | 9901 | €2,343,146 | €1,432,270 | -€910,876 | -38.9% |
| Financial income | 75/76B | €116,190 | €163,911 | +€47,721 | +41.1% |
| Recurring financial income | 75 | €116,190 | €163,911 | +€47,721 | +41.1% |
| Income from current assets | 751 | - | €9,223 | +€9,223 | |
| Other financial income | 752/9 | €116,190 | €154,687 | +€38,498 | +33.1% |
| Financial charges | 65/66B | €81,110 | €86,024 | +€4,914 | +6.1% |
| Recurring financial charges | 65 | €81,110 | €86,024 | +€4,914 | +6.1% |
| Debt charges | 650 | €41,859 | €41,839 | -€20 | 0.0% |
| Other financial charges | 652/9 | €39,252 | €44,185 | +€4,934 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €2,378,226 | €1,510,156 | -€868,069 | -36.5% |
| Income taxes | 67/77 | €620,225 | €393,540 | -€226,686 | -36.5% |
| Taxes | 670/3 | €620,225 | €393,540 | -€226,686 | -36.5% |
| Profit (loss) for the period | 9904 | €1,758,000 | €1,116,617 | -€641,384 | -36.5% |
| Transfer to tax-exempt reserves | 689 | - | €631,500 | +€631,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,758,000 | €485,117 | -€1.3m | -72.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.