POL-TEX: 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.
What changed
POL-TEX
NACE 43.990, Other specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,616
2024 · €17,313-€20,929
Equity
€184,242
2024 · €187,858-€3,616
Cash
€63,388
2024 · €61,705+€1,684
Balance sheet total
€662,750
2024 · €622,862+€39,888
Largest movements
Assets
- Stocks and contracts +€130,000
new in 2025: €130,000
- Receivables within one year -€85,028
down €85,028 (-29.2%), from €291,630 to €206,602
of which Trade receivables: -€74,240
Equity and liabilities
- Provisions +€33,476
new in 2025: €33,476
- Tax, wage and social debts +€9,368
up €9,368 (+299.7%), from €3,125 to €12,493
of which Taxes: +€5,466
Income statement
- Provisions +€33,476
new in 2025: €33,476
- Write-downs -€29,757
no longer reported in 2025 (was €29,757)
- Gross operating margin -€14,964
down €14,964 (-15.2%), from €98,737 to €83,773
- Depreciation -€11,764
down €11,764 (-30.0%), from €39,216 to €27,452
- Financial income -€9,875
down €9,875 (-99.4%), from €9,932 to €57
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
€17,313
Gross operating margin
-€14,964
Depreciation
+€11,764
Write-downs
+€29,757
Provisions
-€33,476
Other operating charges
+€728
Financial income
-€9,875
Financial charges
+€244
Taxes
-€5,108
Result 2025
-€3,616
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.
From operations
+€24,143
Investment
-€21,610
Financing
-€849
Cash 2024
€61,705
From operations (derived)
+€24,143
Net result for the year
-€3,616
Depreciation
+€27,452
Stocks and contracts
-€130,000
Receivables within one year
+€85,028
Deferred charges and accrued income
+€926
Provisions
+€33,476
Trade debts
+€516
Tax, wage and social debts
+€9,368
Other debts
+€994
Investment (derived)
-€21,610
Investment in fixed assets (net)
-€21,609
Current investments
-€1
Financing
-€849
Debts after one year
-€4,537
Current portion of long-term debt
+€3,688
Cash 2025
€63,388
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €622,862 | €662,750 | +€39,888 | +6.4% |
| Fixed assets | 21/28 | €266,160 | €260,317 | -€5,843 | -2.2% |
| Tangible fixed assets | 22/27 | €265,951 | €260,108 | -€5,843 | -2.2% |
| Land and buildings | 22 | €180,000 | €180,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,687 | €8,706 | +€1,020 | +13.3% |
| Furniture and vehicles | 24 | €4,878 | €4,270 | -€608 | -12.5% |
| Leasing and similar rights | 25 | €73,386 | €67,132 | -€6,254 | -8.5% |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €356,702 | €402,433 | +€45,731 | +12.8% |
| Stocks and contracts in progress | 3 | - | €130,000 | +€130,000 | |
| Stocks | 30/36 | - | €130,000 | +€130,000 | |
| Amounts receivable within one year | 40/41 | €291,630 | €206,602 | -€85,028 | -29.2% |
| Trade receivables | 40 | €277,351 | €203,111 | -€74,240 | -26.8% |
| Other amounts receivable | 41 | €14,279 | €3,491 | -€10,789 | -75.6% |
| Current investments | 50/53 | €188 | €189 | +€1 | +0.5% |
| Cash at bank and in hand | 54/58 | €61,705 | €63,388 | +€1,684 | +2.7% |
| Deferred charges and accrued income | 490/1 | €3,179 | €2,254 | -€926 | -29.1% |
| Total equity and liabilities | 10/49 | €622,862 | €662,750 | +€39,888 | +6.4% |
| Equity | 10/15 | €187,858 | €184,242 | -€3,616 | -1.9% |
| Contributions | 10/11 | €10,600 | €10,600 | = | 0.0% |
| Reserves | 13 | €161,145 | €161,145 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €159,285 | €159,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,113 | €12,497 | -€3,616 | -22.4% |
| Provisions and deferred taxes | 16 | - | €33,476 | +€33,476 | |
| Provisions for liabilities and charges | 160/5 | - | €33,476 | +€33,476 | |
| Other liabilities and charges | 164/5 | - | €33,476 | +€33,476 | |
| Amounts payable | 17/49 | €435,004 | €445,032 | +€10,028 | +2.3% |
| Amounts payable after more than one year | 17 | €404,168 | €399,631 | -€4,537 | -1.1% |
| Financial debts | 170/4 | €404,168 | €399,631 | -€4,537 | -1.1% |
| Amounts payable within one year | 42/48 | €30,836 | €45,401 | +€14,565 | +47.2% |
| Current portion of amounts payable after more than one year | 42 | €14,774 | €18,462 | +€3,688 | +25.0% |
| Trade debts | 44 | €797 | €1,313 | +€516 | +64.7% |
| Suppliers | 440/4 | €797 | €1,313 | +€516 | +64.7% |
| Advances received on contracts in progress | 46 | €1,378 | €1,378 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,125 | €12,493 | +€9,368 | +299.7% |
| Taxes | 450/3 | €1,225 | €6,691 | +€5,466 | +446.1% |
| Remuneration and social security | 454/9 | €1,900 | €5,802 | +€3,902 | +205.3% |
| Other amounts payable | 47/48 | €10,761 | €11,755 | +€994 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,216 | €27,452 | -€11,764 | -30.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,757 | - | -€29,757 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €33,476 | +€33,476 | |
| Other operating charges | 640/8 | €2,011 | €1,283 | -€728 | -36.2% |
| Non-recurring operating charges | 66A | €185 | €184 | -€1 | -0.4% |
| Gross operating margin | 9900 | €98,737 | €83,773 | -€14,964 | -15.2% |
| Operating profit (loss) | 9901 | €27,568 | €21,377 | -€6,191 | -22.5% |
| Financial income | 75/76B | €9,932 | €57 | -€9,875 | -99.4% |
| Recurring financial income | 75 | €9,932 | €57 | -€9,875 | -99.4% |
| Financial charges | 65/66B | €17,372 | €17,128 | -€244 | -1.4% |
| Recurring financial charges | 65 | €17,372 | €17,128 | -€244 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €20,128 | €4,306 | -€15,822 | -78.6% |
| Income taxes | 67/77 | €2,815 | €7,922 | +€5,108 | +181.5% |
| Profit (loss) for the period | 9904 | €17,313 | -€3,616 | -€20,929 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,313 | -€3,616 | -€20,929 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.