Pol-Mat: 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-Mat
Largest movements
- Stocks and contracts -€36,323
down €36,323 (-18.1%), from €200,575 to €164,251
- Receivables within one year +€22,935
up €22,935 (+48.1%), from €47,701 to €70,637
of which Trade receivables: +€22,449
- Tangible fixed assets -€6,445
down €6,445 (-40.6%), from €15,887 to €9,442
of which Furniture and vehicles: -€4,945
- Trade debts -€13,274
down €13,274 (-14.8%), from €89,612 to €76,338
- Other debts +€6,730
up €6,730 (+12.5%), from €53,980 to €60,710
- Debts after one year -€5,319
down €5,319 (-10.6%), from €49,983 to €44,664
of which Financial debts: -€5,319
- Current portion of long-term debt -€5,226
down €5,226 (-49.6%), from €10,545 to €5,319
- Staff costs +€20,046
new in 2025: €20,046
- Gross operating margin +€12,141
up €12,141 (+48.7%), from €24,931 to €37,072
- Taxes +€790
new in 2025: €790
- Financial income +€701
up €701 (+27,806%), from €3 to €703
- Depreciation +€537
up €537 (+9.1%), from €5,907 to €6,445
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
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 | €264,888 | €246,389 | -€18,499 | -7.0% |
| Fixed assets | 21/28 | €16,437 | €10,142 | -€6,295 | -38.3% |
| Tangible fixed assets | 22/27 | €15,887 | €9,442 | -€6,445 | -40.6% |
| Plant, machinery and equipment | 23 | €1,500 | €0 | -€1,500 | -100% |
| Furniture and vehicles | 24 | €14,387 | €9,442 | -€4,945 | -34.4% |
| Financial fixed assets | 28 | €550 | €700 | +€150 | +27.3% |
| Current assets | 29/58 | €248,451 | €236,247 | -€12,204 | -4.9% |
| Stocks and contracts in progress | 3 | €200,575 | €164,251 | -€36,323 | -18.1% |
| Stocks | 30/36 | €200,575 | €164,251 | -€36,323 | -18.1% |
| Amounts receivable within one year | 40/41 | €47,701 | €70,637 | +€22,935 | +48.1% |
| Trade receivables | 40 | €41,015 | €63,464 | +€22,449 | +54.7% |
| Other amounts receivable | 41 | €6,687 | €7,173 | +€486 | +7.3% |
| Cash at bank and in hand | 54/58 | €43 | €1,307 | +€1,264 | +2,968% |
| Deferred charges and accrued income | 490/1 | €132 | €52 | -€80 | -60.5% |
| Total equity and liabilities | 10/49 | €264,888 | €246,389 | -€18,499 | -7.0% |
| Equity | 10/15 | €2,355 | €4,055 | +€1,700 | +72.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103 | €103 | = | 0.0% |
| Non-distributable reserves | 130/1 | €103 | €103 | = | 0.0% |
| Reserves not available under the articles | 1311 | €103 | €103 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,348 | -€14,649 | +€1,700 | +10.4% |
| Amounts payable | 17/49 | €262,533 | €242,334 | -€20,198 | -7.7% |
| Amounts payable after more than one year | 17 | €49,983 | €44,664 | -€5,319 | -10.6% |
| Financial debts | 170/4 | €9,983 | €4,664 | -€5,319 | -53.3% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €212,550 | €197,670 | -€14,879 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €10,545 | €5,319 | -€5,226 | -49.6% |
| Financial debts | 43 | €49,619 | €47,958 | -€1,662 | -3.3% |
| Credit institutions | 430/8 | €49,619 | €47,958 | -€1,662 | -3.3% |
| Trade debts | 44 | €89,612 | €76,338 | -€13,274 | -14.8% |
| Suppliers | 440/4 | €89,612 | €76,338 | -€13,274 | -14.8% |
| Taxes, remuneration and social security | 45 | €8,794 | €7,346 | -€1,448 | -16.5% |
| Taxes | 450/3 | €5,801 | €1,240 | -€4,561 | -78.6% |
| Remuneration and social security | 454/9 | €2,993 | €6,106 | +€3,113 | +104% |
| Other amounts payable | 47/48 | €53,980 | €60,710 | +€6,730 | +12.5% |
| Remuneration, social security and pensions | 62 | - | €20,046 | +€20,046 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,907 | €6,445 | +€537 | +9.1% |
| Other operating charges | 640/8 | €944 | €524 | -€420 | -44.5% |
| Gross operating margin | 9900 | €24,931 | €37,072 | +€12,141 | +48.7% |
| Operating profit (loss) | 9901 | €18,080 | €10,058 | -€8,022 | -44.4% |
| Financial income | 75/76B | €3 | €703 | +€701 | +27,806% |
| Recurring financial income | 75 | €3 | €703 | +€701 | +27,806% |
| Financial charges | 65/66B | €8,473 | €8,271 | -€201 | -2.4% |
| Recurring financial charges | 65 | €8,473 | €8,271 | -€201 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €9,610 | €2,490 | -€7,120 | -74.1% |
| Income taxes | 67/77 | - | €790 | +€790 | |
| Profit (loss) for the period | 9904 | €9,610 | €1,700 | -€7,910 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,610 | €1,700 | -€7,910 | -82.3% |
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 18 October 2026 via checked.be.