POLANIS: 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.
POLANIS
Largest movements
- Stocks and contracts -€140,788
down €140,788 (-36.6%), from €384,307 to €243,519
- Cash -€70,567
down €70,567 (-89.3%), from €79,042 to €8,475
mainly Debts after one year (-€188,911) and Net result for the year (-€28,841)
- Tangible fixed assets -€7,412
down €7,412 (-2.7%), from €269,905 to €262,493
of which Land and buildings: -€6,811
- Debts after one year -€188,911
down €188,911 (-33.9%), from €556,438 to €367,527
of which Financial debts: -€188,911
- Profit (loss) carried forward -€28,841
down €28,841 (-23.8%), from €121,353 to €92,512
- Gross operating margin -€189,049
down €189,049 (-97.4%), from €194,016 to €4,967
- Taxes -€33,784
no longer reported in 2025 (was €33,784)
- Financial charges -€10,946
down €10,946 (-32.3%), from €33,902 to €22,956
- Depreciation +€6,842
up €6,842 (+360.7%), from €1,897 to €8,739
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 | €734,792 | €515,647 | -€219,145 | -29.8% |
| Fixed assets | 21/28 | €269,905 | €262,493 | -€7,412 | -2.7% |
| Tangible fixed assets | 22/27 | €269,905 | €262,493 | -€7,412 | -2.7% |
| Land and buildings | 22 | €268,297 | €261,486 | -€6,811 | -2.5% |
| Furniture and vehicles | 24 | €1,608 | €1,007 | -€601 | -37.4% |
| Current assets | 29/58 | €464,887 | €253,153 | -€211,733 | -45.5% |
| Stocks and contracts in progress | 3 | €384,307 | €243,519 | -€140,788 | -36.6% |
| Stocks | 30/36 | €384,307 | €243,519 | -€140,788 | -36.6% |
| Amounts receivable within one year | 40/41 | €242 | €48 | -€194 | -80.4% |
| Trade receivables | 40 | €242 | - | -€242 | |
| Other amounts receivable | 41 | - | €48 | +€48 | |
| Cash at bank and in hand | 54/58 | €79,042 | €8,475 | -€70,567 | -89.3% |
| Deferred charges and accrued income | 490/1 | €1,295 | €1,112 | -€184 | -14.2% |
| Total equity and liabilities | 10/49 | €734,792 | €515,647 | -€219,145 | -29.8% |
| Equity | 10/15 | €127,353 | €98,512 | -€28,841 | -22.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €121,353 | €92,512 | -€28,841 | -23.8% |
| Amounts payable | 17/49 | €607,439 | €417,134 | -€190,305 | -31.3% |
| Amounts payable after more than one year | 17 | €556,438 | €367,527 | -€188,911 | -33.9% |
| Financial debts | 170/4 | €556,038 | €367,127 | -€188,911 | -34.0% |
| Other amounts payable | 178/9 | €400 | €400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,656 | €49,607 | +€1,951 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €12,985 | €12,280 | -€705 | -5.4% |
| Trade debts | 44 | €1,023 | €3,679 | +€2,656 | +259.7% |
| Suppliers | 440/4 | €1,023 | €3,679 | +€2,656 | +259.7% |
| Taxes, remuneration and social security | 45 | €33,648 | €33,648 | = | 0.0% |
| Taxes | 450/3 | €33,648 | €33,648 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,345 | - | -€3,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,897 | €8,739 | +€6,842 | +360.7% |
| Other operating charges | 640/8 | €3,533 | €2,271 | -€1,262 | -35.7% |
| Gross operating margin | 9900 | €194,016 | €4,967 | -€189,049 | -97.4% |
| Operating profit (loss) | 9901 | €188,586 | -€6,043 | -€194,629 | |
| Financial income | 75/76B | €454 | €158 | -€296 | -65.1% |
| Recurring financial income | 75 | €454 | €158 | -€296 | -65.1% |
| Financial charges | 65/66B | €33,902 | €22,956 | -€10,946 | -32.3% |
| Recurring financial charges | 65 | €33,902 | €22,956 | -€10,946 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €155,138 | -€28,841 | -€183,978 | |
| Income taxes | 67/77 | €33,784 | - | -€33,784 | |
| Profit (loss) for the period | 9904 | €121,353 | -€28,841 | -€150,194 | |
| Profit (loss) for the period to be appropriated | 9905 | €121,353 | -€28,841 | -€150,194 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.