POLAR MARINE SERVICE: 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.
POLAR MARINE SERVICE
Largest movements
- Receivables within one year +€219,924
up €219,924 (+218%), from €100,880 to €320,804
of which Trade receivables: +€234,301
- Deferred charges and accrued income -€29,612
no longer reported in 2025 (was €29,612)
- Tangible fixed assets -€17,937
down €17,937 (-28.5%), from €62,862 to €44,924
of which Other tangible fixed assets: -€13,727
- Cash +€14,038
up €14,038 (+10.8%), from €130,262 to €144,299
mainly Trade debts (+€178,468) and Contributions, distributions and other (+€140,000)
- Stocks and contracts -€12,314
down €12,314 (-34.5%), from €35,738 to €23,424
- Trade debts +€178,468
up €178,468 (+106%), from €168,639 to €347,107
- Profit (loss) carried forward -€152,030
down €152,030 (-48.8%), from -€311,851 to -€463,881
- Contributions +€140,000
up €140,000 (+86.2%), from €162,500 to €302,500
- Tax, wage and social debts +€12,202
up €12,202 (+40.4%), from €30,189 to €42,391
of which Remuneration and social security: +€26,324
- Staff costs +€60,655
up €60,655 (+70.9%), from €85,557 to €146,212
- Gross operating margin +€23,432
up €23,432, from -€4,614 to €18,818
- Other operating charges +€2,312
up €2,312 (+227%), from €1,019 to €3,331
- Depreciation +€993
up €993 (+5.0%), from €19,923 to €20,916
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 | €361,253 | €535,352 | +€174,099 | +48.2% |
| Fixed assets | 21/28 | €64,762 | €46,824 | -€17,937 | -27.7% |
| Tangible fixed assets | 22/27 | €62,862 | €44,924 | -€17,937 | -28.5% |
| Furniture and vehicles | 24 | €22,089 | €17,878 | -€4,211 | -19.1% |
| Other tangible fixed assets | 26 | €40,773 | €27,046 | -€13,727 | -33.7% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €296,492 | €488,528 | +€192,036 | +64.8% |
| Stocks and contracts in progress | 3 | €35,738 | €23,424 | -€12,314 | -34.5% |
| Stocks | 30/36 | €35,738 | €23,424 | -€12,314 | -34.5% |
| Amounts receivable within one year | 40/41 | €100,880 | €320,804 | +€219,924 | +218% |
| Trade receivables | 40 | €86,504 | €320,804 | +€234,301 | +271% |
| Other amounts receivable | 41 | €14,377 | - | -€14,377 | |
| Cash at bank and in hand | 54/58 | €130,262 | €144,299 | +€14,038 | +10.8% |
| Deferred charges and accrued income | 490/1 | €29,612 | - | -€29,612 | |
| Total equity and liabilities | 10/49 | €361,253 | €535,352 | +€174,099 | +48.2% |
| Equity | 10/15 | -€149,351 | -€161,381 | -€12,030 | -8.1% |
| Contributions | 10/11 | €162,500 | €302,500 | +€140,000 | +86.2% |
| Profit (loss) carried forward | 14 | -€311,851 | -€463,881 | -€152,030 | -48.8% |
| Amounts payable | 17/49 | €510,604 | €696,733 | +€186,129 | +36.5% |
| Amounts payable after more than one year | 17 | €306,611 | €306,611 | = | 0.0% |
| Financial debts | 170/4 | €306,611 | €306,611 | = | 0.0% |
| Amounts payable within one year | 42/48 | €203,993 | €389,685 | +€185,692 | +91.0% |
| Trade debts | 44 | €168,639 | €347,107 | +€178,468 | +106% |
| Suppliers | 440/4 | €168,639 | €347,107 | +€178,468 | +106% |
| Taxes, remuneration and social security | 45 | €30,189 | €42,391 | +€12,202 | +40.4% |
| Taxes | 450/3 | €15,375 | €1,254 | -€14,122 | -91.8% |
| Remuneration and social security | 454/9 | €14,814 | €41,137 | +€26,324 | +178% |
| Other amounts payable | 47/48 | €5,165 | €187 | -€4,978 | -96.4% |
| Accrued charges and deferred income | 492/3 | - | €437 | +€437 | |
| Remuneration, social security and pensions | 62 | €85,557 | €146,212 | +€60,655 | +70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,923 | €20,916 | +€993 | +5.0% |
| Other operating charges | 640/8 | €1,019 | €3,331 | +€2,312 | +227% |
| Gross operating margin | 9900 | -€4,614 | €18,818 | +€23,432 | |
| Operating profit (loss) | 9901 | -€111,112 | -€151,641 | -€40,529 | -36.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €342 | €389 | +€47 | +13.8% |
| Recurring financial charges | 65 | €342 | €389 | +€47 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | -€111,454 | -€152,030 | -€40,576 | -36.4% |
| Profit (loss) for the period | 9904 | -€111,454 | -€152,030 | -€40,576 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€111,454 | -€152,030 | -€40,576 | -36.4% |
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 26 October 2026 via checked.be.