POL CLOSE MANAGEMENT: 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.
POL CLOSE MANAGEMENT
Largest movements
- Cash -€6.4m
down €6.4m (-98.9%), from €6.5m to €69,850
mainly Current investments (-€5.1m) and Other debts (-€1.4m)
- Current investments +€5.1m
up €5.1m (+6137.3%), from €82,372 to €5.1m
- Tangible fixed assets +€137,874
up €137,874 (+7185.2%), from €1,919 to €139,793
of which Furniture and vehicles: +€137,874
- Other debts -€1.4m
down €1.4m (-26.8%), from €5.3m to €3.9m
- Reserves +€182,781
up €182,781 (+6.0%), from €3.0m to €3.2m
- Financial income -€1.9m
down €1.9m (-89.0%), from €2.2m to €239,234
of which Non-recurring financial income: -€2.0m
- Financial charges +€65,807
up €65,807 (+871.0%), from €7,555 to €73,362
- Gross operating margin +€61,946
up €61,946 (+81.2%), from €76,291 to €138,237
- Depreciation +€23,489
up €23,489 (+24135.7%), from €97 to €23,586
- Other operating charges +€17,589
up €17,589 (+923.5%), from €1,905 to €19,493
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,388,933 | €7,168,213 | -€1.2m | -14.6% |
| Fixed assets | 21/28 | €1,747,550 | €1,885,425 | +€137,874 | +7.9% |
| Tangible fixed assets | 22/27 | €1,919 | €139,793 | +€137,874 | +7185.2% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,919 | €139,793 | +€137,874 | +7185.2% |
| Financial fixed assets | 28 | €1,745,632 | €1,745,632 | = | 0.0% |
| Current assets | 29/58 | €6,641,383 | €5,282,788 | -€1.4m | -20.5% |
| Amounts receivable within one year | 40/41 | €82,792 | €69,340 | -€13,452 | -16.2% |
| Trade receivables | 40 | €16,146 | €1,430 | -€14,716 | -91.1% |
| Other amounts receivable | 41 | €66,646 | €67,910 | +€1,265 | +1.9% |
| Current investments | 50/53 | €82,372 | €5,137,798 | +€5.1m | +6137.3% |
| Cash at bank and in hand | 54/58 | €6,475,147 | €69,850 | -€6.4m | -98.9% |
| Deferred charges and accrued income | 490/1 | €1,072 | €5,800 | +€4,728 | +441.2% |
| Total equity and liabilities | 10/49 | €8,388,933 | €7,168,213 | -€1.2m | -14.6% |
| Equity | 10/15 | €3,038,980 | €3,221,761 | +€182,781 | +6.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €3,028,980 | €3,211,761 | +€182,781 | +6.0% |
| Distributable reserves | 133 | €3,028,980 | €3,211,761 | +€182,781 | +6.0% |
| Amounts payable | 17/49 | €5,349,953 | €3,946,452 | -€1.4m | -26.2% |
| Amounts payable within one year | 42/48 | €5,348,703 | €3,940,014 | -€1.4m | -26.3% |
| Trade debts | 44 | €405 | €613 | +€208 | +51.3% |
| Suppliers | 440/4 | €405 | €613 | +€208 | +51.3% |
| Taxes, remuneration and social security | 45 | €41,962 | €54,567 | +€12,605 | +30.0% |
| Taxes | 450/3 | €41,962 | €51,567 | +€9,605 | +22.9% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €5,306,335 | €3,884,834 | -€1.4m | -26.8% |
| Accrued charges and deferred income | 492/3 | €1,250 | €6,438 | +€5,188 | +415.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97 | €23,586 | +€23,489 | +24135.7% |
| Other operating charges | 640/8 | €1,905 | €19,493 | +€17,589 | +923.5% |
| Gross operating margin | 9900 | €76,291 | €138,237 | +€61,946 | +81.2% |
| Operating profit (loss) | 9901 | €74,289 | €95,158 | +€20,869 | +28.1% |
| Financial income | 75/76B | €2,181,280 | €239,234 | -€1.9m | -89.0% |
| Recurring financial income | 75 | €173,071 | €239,234 | +€66,163 | +38.2% |
| Non-recurring financial income | 76B | €2,008,209 | - | -€2.0m | |
| Financial charges | 65/66B | €7,555 | €73,362 | +€65,807 | +871.0% |
| Recurring financial charges | 65 | €7,555 | €73,362 | +€65,807 | +871.0% |
| Profit (loss) for the period before taxes | 9903 | €2,248,013 | €261,030 | -€2.0m | -88.4% |
| Income taxes | 67/77 | €84,503 | €78,249 | -€6,254 | -7.4% |
| Profit (loss) for the period | 9904 | €2,163,510 | €182,781 | -€2.0m | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,163,510 | €182,781 | -€2.0m | -91.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.