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
- Cash -€24,045
down €24,045 (-51.2%), from €46,990 to €22,945
mainly Receivables after one year (-€20,036) and Debts after one year (-€13,552)
- Receivables after one year +€20,036
up €20,036 (+446%), from €4,494 to €24,530
- Trade debts +€14,972
up €14,972 (+73.8%), from €20,279 to €35,250
- Debts after one year -€13,552
down €13,552 (-37.2%), from €36,456 to €22,903
- Reserves -€7,162
down €7,162 (-54.1%), from €13,237 to €6,076
- Taxes +€5,860
up €5,860 (+213%), from €2,751 to €8,611
- Depreciation -€3,745
down €3,745 (-87.4%), from €4,286 to €540
- Gross operating margin +€2,799
up €2,799 (+20.5%), from €13,688 to €16,487
- Other operating charges -€1,066
down €1,066 (-73.9%), from €1,443 to €377
- Financial income +€497
up €497 (+227%), from €219 to €716
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 | €78,481 | €73,258 | -€5,223 | -6.7% |
| Fixed assets | 21/28 | €2,218 | €1,678 | -€540 | -24.4% |
| Tangible fixed assets | 22/27 | €1,947 | €1,407 | -€540 | -27.7% |
| Furniture and vehicles | 24 | €1,947 | €1,407 | -€540 | -27.7% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €76,263 | €71,580 | -€4,682 | -6.1% |
| Amounts receivable after more than one year | 29 | €4,494 | €24,530 | +€20,036 | +446% |
| Other amounts receivable | 291 | €4,494 | €24,530 | +€20,036 | +446% |
| Amounts receivable within one year | 40/41 | €22,104 | €22,014 | -€90 | -0.4% |
| Trade receivables | 40 | €16,855 | €17,860 | +€1,004 | +6.0% |
| Other amounts receivable | 41 | €5,249 | €4,154 | -€1,095 | -20.9% |
| Cash at bank and in hand | 54/58 | €46,990 | €22,945 | -€24,045 | -51.2% |
| Deferred charges and accrued income | 490/1 | €2,675 | €2,091 | -€583 | -21.8% |
| Total equity and liabilities | 10/49 | €78,481 | €73,258 | -€5,223 | -6.7% |
| Equity | 10/15 | €18,237 | €11,076 | -€7,162 | -39.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,237 | €6,076 | -€7,162 | -54.1% |
| Distributable reserves | 133 | €13,237 | €6,076 | -€7,162 | -54.1% |
| Amounts payable | 17/49 | €60,244 | €62,183 | +€1,939 | +3.2% |
| Amounts payable after more than one year | 17 | €36,456 | €22,903 | -€13,552 | -37.2% |
| Other amounts payable | 178/9 | €36,456 | €22,903 | -€13,552 | -37.2% |
| Amounts payable within one year | 42/48 | €23,788 | €39,079 | +€15,291 | +64.3% |
| Trade debts | 44 | €20,279 | €35,250 | +€14,972 | +73.8% |
| Suppliers | 440/4 | €20,279 | €35,250 | +€14,972 | +73.8% |
| Taxes, remuneration and social security | 45 | €3,509 | €3,828 | +€319 | +9.1% |
| Taxes | 450/3 | €3,509 | €3,828 | +€319 | +9.1% |
| Accrued charges and deferred income | 492/3 | - | €201 | +€201 | |
| Non-recurring operating income | 76A | - | €2,715 | +€2,715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,286 | €540 | -€3,745 | -87.4% |
| Other operating charges | 640/8 | €1,443 | €377 | -€1,066 | -73.9% |
| Gross operating margin | 9900 | €13,688 | €16,487 | +€2,799 | +20.5% |
| Operating profit (loss) | 9901 | €7,959 | €15,570 | +€7,610 | +95.6% |
| Financial income | 75/76B | €219 | €716 | +€497 | +227% |
| Recurring financial income | 75 | €219 | €716 | +€497 | +227% |
| Financial charges | 65/66B | €1,612 | €1,599 | -€14 | -0.8% |
| Recurring financial charges | 65 | €1,612 | €1,599 | -€14 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €6,566 | €14,687 | +€8,121 | +124% |
| Income taxes | 67/77 | €2,751 | €8,611 | +€5,860 | +213% |
| Profit (loss) for the period | 9904 | €3,815 | €6,076 | +€2,261 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,815 | €6,076 | +€2,261 | +59.3% |
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 29 October 2026 via checked.be.