POELVOORDE: 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.
POELVOORDE
Largest movements
- Tangible fixed assets -€57,792
down €57,792 (-6.3%), from €916,408 to €858,617
of which Land and buildings: -€47,439
- Receivables within one year +€10,217
up €10,217 (+122,069%), from €8 to €10,226
of which Trade receivables: +€9,380
- Debts after one year -€53,328
down €53,328 (-54.5%), from €97,848 to €44,520
- Depreciation -€5,266
down €5,266 (-7.9%), from €66,784 to €61,518
- Financial charges -€4,659
down €4,659 (-34.6%), from €13,485 to €8,826
- Gross operating margin +€2,541
up €2,541 (+3.1%), from €80,834 to €83,375
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €932,303 | €880,995 | -€51,308 | -5.5% |
| Fixed assets | 21/28 | €932,065 | €870,547 | -€61,518 | -6.6% |
| Intangible fixed assets | 21 | €15,406 | €11,680 | -€3,727 | -24.2% |
| Tangible fixed assets | 22/27 | €916,408 | €858,617 | -€57,792 | -6.3% |
| Land and buildings | 22 | €871,472 | €824,033 | -€47,439 | -5.4% |
| Plant, machinery and equipment | 23 | €44,936 | €34,584 | -€10,352 | -23.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €239 | €10,449 | +€10,210 | +4,280% |
| Amounts receivable within one year | 40/41 | €8 | €10,226 | +€10,217 | +122,069% |
| Trade receivables | 40 | €8 | €9,389 | +€9,380 | +112,072% |
| Other amounts receivable | 41 | - | €837 | +€837 | |
| Deferred charges and accrued income | 490/1 | €230 | €223 | -€7 | -3.1% |
| Total equity and liabilities | 10/49 | €932,303 | €880,995 | -€51,308 | -5.5% |
| Equity | 10/15 | €628,847 | €629,942 | +€1,094 | +0.2% |
| Contributions | 10/11 | €570,000 | €570,000 | = | 0.0% |
| Reserves | 13 | €57,000 | €57,000 | = | 0.0% |
| Distributable reserves | 133 | €57,000 | €57,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,847 | €2,942 | +€1,094 | +59.2% |
| Amounts payable | 17/49 | €303,456 | €251,054 | -€52,402 | -17.3% |
| Amounts payable after more than one year | 17 | €97,848 | €44,520 | -€53,328 | -54.5% |
| Financial debts | 170/4 | €97,848 | €44,520 | -€53,328 | -54.5% |
| Amounts payable within one year | 42/48 | €205,583 | €206,509 | +€926 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €53,328 | €53,328 | = | 0.0% |
| Trade debts | 44 | €52,230 | €46,726 | -€5,504 | -10.5% |
| Suppliers | 440/4 | €52,230 | €46,726 | -€5,504 | -10.5% |
| Taxes, remuneration and social security | 45 | €561 | €1,695 | +€1,134 | +202% |
| Taxes | 450/3 | €561 | €1,695 | +€1,134 | +202% |
| Other amounts payable | 47/48 | €99,464 | €104,759 | +€5,295 | +5.3% |
| Accrued charges and deferred income | 492/3 | €25 | €25 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,784 | €61,518 | -€5,266 | -7.9% |
| Other operating charges | 640/8 | €11,411 | €11,937 | +€527 | +4.6% |
| Gross operating margin | 9900 | €80,834 | €83,375 | +€2,541 | +3.1% |
| Operating profit (loss) | 9901 | €2,640 | €9,920 | +€7,280 | +276% |
| Financial charges | 65/66B | €13,485 | €8,826 | -€4,659 | -34.6% |
| Recurring financial charges | 65 | €13,485 | €8,826 | -€4,659 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,845 | €1,094 | +€11,939 | |
| Profit (loss) for the period | 9904 | -€10,845 | €1,094 | +€11,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,845 | €1,094 | +€11,939 |
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 24 October 2026 via checked.be.