POLBOUW: 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.
POLBOUW
Largest movements
- Cash -€51,070
down €51,070 (-35.7%), from €143,051 to €91,981
mainly Contributions, distributions and other (-€71,429) and Provisions (-€50,000)
- Tangible fixed assets -€30,368
down €30,368 (-52.1%), from €58,237 to €27,869
- Receivables within one year +€13,402
up €13,402 (+5.1%), from €262,906 to €276,307
of which Trade receivables: +€29,164
- Reserves +€194,331
up €194,331 (+2,756%), from €7,051 to €201,382
- Profit (loss) carried forward -€194,228
new in 2025: -€194,228
- Provisions -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Short-term financial debts -€24,423
no longer reported in 2025 (was €24,423)
- Trade debts -€10,993
down €10,993 (-53.3%), from €20,620 to €9,627
- Provisions -€350,000
down €350,000, from €300,000 to -€50,000
- Gross operating margin -€108,318
down €108,318 (-70.7%), from €153,145 to €44,827
- Taxes -€21,238
down €21,238 (-71.9%), from €29,545 to €8,307
- Financial income -€2,792
down €2,792 (-92.9%), from €3,007 to €215
- Financial charges -€2,603
down €2,603 (-64.4%), from €4,041 to €1,438
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 | €481,568 | €412,353 | -€69,215 | -14.4% |
| Fixed assets | 21/28 | €62,437 | €32,069 | -€30,368 | -48.6% |
| Tangible fixed assets | 22/27 | €58,237 | €27,869 | -€30,368 | -52.1% |
| Furniture and vehicles | 24 | €58,237 | €27,869 | -€30,368 | -52.1% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €419,131 | €380,285 | -€38,847 | -9.3% |
| Amounts receivable within one year | 40/41 | €262,906 | €276,307 | +€13,402 | +5.1% |
| Trade receivables | 40 | €220,450 | €249,614 | +€29,164 | +13.2% |
| Other amounts receivable | 41 | €42,455 | €26,693 | -€15,762 | -37.1% |
| Current investments | 50/53 | €10,702 | €10,702 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,051 | €91,981 | -€51,070 | -35.7% |
| Deferred charges and accrued income | 490/1 | €2,473 | €1,294 | -€1,179 | -47.7% |
| Total equity and liabilities | 10/49 | €481,568 | €412,353 | -€69,215 | -14.4% |
| Equity | 10/15 | €9,051 | €9,153 | +€102 | +1.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €7,051 | €201,382 | +€194,331 | +2,756% |
| Distributable reserves | 133 | €7,051 | €201,382 | +€194,331 | +2,756% |
| Profit (loss) carried forward | 14 | - | -€194,228 | -€194,228 | |
| Provisions and deferred taxes | 16 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Provisions for liabilities and charges | 160/5 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Other liabilities and charges | 164/5 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Amounts payable | 17/49 | €172,517 | €153,200 | -€19,317 | -11.2% |
| Amounts payable within one year | 42/48 | €172,517 | €153,200 | -€19,317 | -11.2% |
| Financial debts | 43 | €24,423 | - | -€24,423 | |
| Other loans | 439 | €24,423 | - | -€24,423 | |
| Trade debts | 44 | €20,620 | €9,627 | -€10,993 | -53.3% |
| Suppliers | 440/4 | €20,620 | €9,627 | -€10,993 | -53.3% |
| Taxes, remuneration and social security | 45 | €115,712 | €123,371 | +€7,660 | +6.6% |
| Taxes | 450/3 | €115,712 | €123,371 | +€7,660 | +6.6% |
| Other amounts payable | 47/48 | €11,763 | €20,202 | +€8,439 | +71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,956 | €13,295 | -€1,661 | -11.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €300,000 | -€50,000 | -€350,000 | |
| Other operating charges | 640/8 | €1,838 | €471 | -€1,367 | -74.4% |
| Gross operating margin | 9900 | €153,145 | €44,827 | -€108,318 | -70.7% |
| Operating profit (loss) | 9901 | -€163,650 | €81,061 | +€244,710 | |
| Financial income | 75/76B | €3,007 | €215 | -€2,792 | -92.9% |
| Recurring financial income | 75 | €3,007 | €215 | -€2,792 | -92.9% |
| Financial charges | 65/66B | €4,041 | €1,438 | -€2,603 | -64.4% |
| Recurring financial charges | 65 | €4,041 | €1,438 | -€2,603 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | -€164,684 | €79,838 | +€244,521 | |
| Income taxes | 67/77 | €29,545 | €8,307 | -€21,238 | -71.9% |
| Profit (loss) for the period | 9904 | -€194,228 | €71,531 | +€265,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€194,228 | €71,531 | +€265,759 |
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 13 October 2026 via checked.be.