Polaris: 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.
Polaris
Largest movements
- Receivables within one year +€67,186
up €67,186 (+2,962%), from €2,268 to €69,454
of which Trade receivables: +€67,720
- Cash -€21,517
down €21,517 (-45.0%), from €47,854 to €26,338
mainly Receivables within one year (-€67,186) and Other debts (-€16,478)
- Tangible fixed assets -€12,711
down €12,711 (-28.4%), from €44,794 to €32,083
of which Furniture and vehicles: -€9,139
- Deferred charges and accrued income -€1,877
no longer reported in 2025 (was €1,877)
- Trade debts +€57,468
up €57,468 (+5,387%), from €1,067 to €58,535
- Other debts -€16,478
down €16,478 (-73.3%), from €22,496 to €6,017
- Profit (loss) carried forward -€6,463
new in 2025: -€6,463
- Tax, wage and social debts -€3,445
down €3,445 (-17.1%), from €20,199 to €16,754
of which Taxes: -€3,323
- Write-downs +€16,380
no longer reported in 2025 (was -€16,380)
- Gross operating margin -€15,347
down €15,347 (-30.8%), from €49,854 to €34,506
- Taxes -€7,423
down €7,423 (-92.3%), from €8,043 to €620
- Staff costs -€1,795
down €1,795 (-6.6%), from €26,998 to €25,203
- Financial charges +€831
up €831 (+663%), from €125 to €956
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 | €96,793 | €127,874 | +€31,082 | +32.1% |
| Fixed assets | 21/28 | €44,794 | €32,083 | -€12,711 | -28.4% |
| Tangible fixed assets | 22/27 | €44,794 | €32,083 | -€12,711 | -28.4% |
| Plant, machinery and equipment | 23 | €13,019 | €9,447 | -€3,572 | -27.4% |
| Furniture and vehicles | 24 | €31,775 | €22,636 | -€9,139 | -28.8% |
| Current assets | 29/58 | €51,999 | €95,791 | +€43,792 | +84.2% |
| Amounts receivable within one year | 40/41 | €2,268 | €69,454 | +€67,186 | +2,962% |
| Trade receivables | 40 | €1,090 | €68,810 | +€67,720 | +6,211% |
| Other amounts receivable | 41 | €1,178 | €644 | -€534 | -45.3% |
| Cash at bank and in hand | 54/58 | €47,854 | €26,338 | -€21,517 | -45.0% |
| Deferred charges and accrued income | 490/1 | €1,877 | - | -€1,877 | |
| Total equity and liabilities | 10/49 | €96,793 | €127,874 | +€31,082 | +32.1% |
| Equity | 10/15 | €53,031 | €46,568 | -€6,463 | -12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,831 | €46,831 | = | 0.0% |
| Distributable reserves | 133 | €46,831 | €46,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,463 | -€6,463 | |
| Amounts payable | 17/49 | €43,761 | €81,306 | +€37,545 | +85.8% |
| Amounts payable within one year | 42/48 | €43,761 | €81,306 | +€37,545 | +85.8% |
| Trade debts | 44 | €1,067 | €58,535 | +€57,468 | +5,387% |
| Suppliers | 440/4 | €1,067 | €58,535 | +€57,468 | +5,387% |
| Taxes, remuneration and social security | 45 | €20,199 | €16,754 | -€3,445 | -17.1% |
| Taxes | 450/3 | €12,232 | €8,909 | -€3,323 | -27.2% |
| Remuneration and social security | 454/9 | €7,967 | €7,845 | -€122 | -1.5% |
| Other amounts payable | 47/48 | €22,496 | €6,017 | -€16,478 | -73.3% |
| Remuneration, social security and pensions | 62 | €26,998 | €25,203 | -€1,795 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,113 | €12,711 | +€598 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,380 | - | +€16,380 | |
| Other operating charges | 640/8 | €912 | €1,479 | +€567 | +62.1% |
| Gross operating margin | 9900 | €49,854 | €34,506 | -€15,347 | -30.8% |
| Operating profit (loss) | 9901 | €26,210 | -€4,887 | -€31,097 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €125 | €956 | +€831 | +663% |
| Recurring financial charges | 65 | €125 | €956 | +€831 | +663% |
| Profit (loss) for the period before taxes | 9903 | €26,085 | -€5,843 | -€31,928 | |
| Income taxes | 67/77 | €8,043 | €620 | -€7,423 | -92.3% |
| Profit (loss) for the period | 9904 | €18,042 | -€6,463 | -€24,505 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,042 | -€6,463 | -€24,505 |
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.