Polderland: 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.
Polderland
Largest movements
- Current investments +€142,609
up €142,609 (+28.0%), from €509,669 to €652,279
- Cash -€122,266
down €122,266 (-59.4%), from €205,693 to €83,427
mainly Current investments (-€142,609) and Net result for the year (-€31,162)
- Receivables after one year -€48,824
down €48,824 (-100%), from €48,824 to €0
- Reserves -€21,960
down €21,960 (-3.2%), from €689,891 to €667,931
of which Distributable reserves: -€21,960
- Profit (loss) carried forward -€9,202
down €9,202, from €0 to -€9,202
- Gross operating margin -€693,161
down €693,161, from €691,034 to -€2,126
- Taxes -€214,889
down €214,889 (-99.9%), from €215,098 to €209
- Financial charges +€21,671
up €21,671 (+321%), from €6,755 to €28,426
- Financial income +€8,521
up €8,521 (+348%), from €2,446 to €10,967
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 | €792,501 | €763,244 | -€29,256 | -3.7% |
| Fixed assets | 21/28 | €27,799 | €24,901 | -€2,898 | -10.4% |
| Tangible fixed assets | 22/27 | €27,799 | €24,901 | -€2,898 | -10.4% |
| Land and buildings | 22 | €25,039 | €21,471 | -€3,569 | -14.3% |
| Other tangible fixed assets | 26 | €2,760 | €3,430 | +€670 | +24.3% |
| Current assets | 29/58 | €764,702 | €738,344 | -€26,358 | -3.4% |
| Amounts receivable after more than one year | 29 | €48,824 | €0 | -€48,824 | -100% |
| Other amounts receivable | 291 | €48,824 | €0 | -€48,824 | -100% |
| Amounts receivable within one year | 40/41 | €0 | €2,095 | +€2,095 | |
| Other amounts receivable | 41 | €0 | €2,095 | +€2,095 | |
| Current investments | 50/53 | €509,669 | €652,279 | +€142,609 | +28.0% |
| Cash at bank and in hand | 54/58 | €205,693 | €83,427 | -€122,266 | -59.4% |
| Deferred charges and accrued income | 490/1 | €515 | €544 | +€29 | +5.6% |
| Total equity and liabilities | 10/49 | €792,501 | €763,244 | -€29,256 | -3.7% |
| Equity | 10/15 | €751,391 | €720,229 | -€31,162 | -4.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €689,891 | €667,931 | -€21,960 | -3.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €683,741 | €661,781 | -€21,960 | -3.2% |
| Profit (loss) carried forward | 14 | €0 | -€9,202 | -€9,202 | |
| Amounts payable | 17/49 | €41,109 | €43,015 | +€1,906 | +4.6% |
| Amounts payable after more than one year | 17 | €1,022 | €1,022 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €1,022 | €1,022 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,087 | €41,993 | +€1,906 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,563 | €260 | -€1,303 | -83.4% |
| Suppliers | 440/4 | €1,563 | €260 | -€1,303 | -83.4% |
| Taxes, remuneration and social security | 45 | €34,401 | €34,610 | +€209 | +0.6% |
| Taxes | 450/3 | €34,401 | €34,610 | +€209 | +0.6% |
| Other amounts payable | 47/48 | €4,124 | €7,124 | +€3,000 | +72.7% |
| Non-recurring operating income | 76A | €678 | €670 | -€8 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,361 | €3,569 | -€4,792 | -57.3% |
| Other operating charges | 640/8 | €2,630 | €7,799 | +€5,169 | +197% |
| Gross operating margin | 9900 | €691,034 | -€2,126 | -€693,161 | |
| Operating profit (loss) | 9901 | €680,043 | -€13,494 | -€693,537 | |
| Financial income | 75/76B | €2,446 | €10,967 | +€8,521 | +348% |
| Recurring financial income | 75 | €2,446 | €10,967 | +€8,521 | +348% |
| Financial charges | 65/66B | €6,755 | €28,426 | +€21,671 | +321% |
| Recurring financial charges | 65 | €6,755 | €28,426 | +€21,671 | +321% |
| Profit (loss) for the period before taxes | 9903 | €675,734 | -€30,953 | -€706,687 | |
| Income taxes | 67/77 | €215,098 | €209 | -€214,889 | -99.9% |
| Profit (loss) for the period | 9904 | €460,636 | -€31,162 | -€491,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €460,636 | -€31,162 | -€491,798 |
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 27 October 2026 via checked.be.