POLEDA: what changed
Two fiscal 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.
POLEDA
Largest movements
- Tangible fixed assets -€22,924
down €22,924 (-5.4%), from €427,613 to €404,689
of which Land and buildings: -€14,984
- Receivables within one year +€5,838
up €5,838 (+76.5%), from €7,636 to €13,475
- Other debts -€20,039
down €20,039 (-15.5%), from €129,204 to €109,165
- Debts after one year -€15,188
down €15,188 (-4.0%), from €375,770 to €360,582
- Reserves +€12,155
up €12,155 (+124.9%), from €9,734 to €21,888
- Gross operating margin +€13,300
up €13,300 (+32.1%), from €41,460 to €54,760
- Depreciation +€6,416
up €6,416 (+37.2%), from €17,246 to €23,663
- Financial charges +€3,024
up €3,024 (+31.1%), from €9,729 to €12,753
- Taxes +€947
up €947 (+25.9%), from €3,654 to €4,601
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.
Cash bridge derived
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 | €546,123 | €526,731 | -€19,392 | -3.6% |
| Formation expenses | 20 | €3,092 | €2,353 | -€739 | -23.9% |
| Fixed assets | 21/28 | €427,613 | €404,689 | -€22,924 | -5.4% |
| Tangible fixed assets | 22/27 | €427,613 | €404,689 | -€22,924 | -5.4% |
| Land and buildings | 22 | €393,677 | €378,693 | -€14,984 | -3.8% |
| Plant, machinery and equipment | 23 | €33,936 | €25,996 | -€7,940 | -23.4% |
| Current assets | 29/58 | €115,418 | €119,689 | +€4,271 | +3.7% |
| Amounts receivable within one year | 40/41 | €7,636 | €13,475 | +€5,838 | +76.5% |
| Trade receivables | 40 | €7,636 | €13,475 | +€5,838 | +76.5% |
| Cash at bank and in hand | 54/58 | €107,782 | €106,214 | -€1,568 | -1.5% |
| Total equity and liabilities | 10/49 | €546,123 | €526,731 | -€19,392 | -3.6% |
| Equity | 10/15 | €14,734 | €26,888 | +€12,155 | +82.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,734 | €21,888 | +€12,155 | +124.9% |
| Distributable reserves | 133 | €9,734 | €21,888 | +€12,155 | +124.9% |
| Amounts payable | 17/49 | €531,389 | €499,842 | -€31,547 | -5.9% |
| Amounts payable after more than one year | 17 | €375,770 | €360,582 | -€15,188 | -4.0% |
| Financial debts | 170/4 | €375,770 | €360,582 | -€15,188 | -4.0% |
| Amounts payable within one year | 42/48 | €148,809 | €133,082 | -€15,727 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €14,697 | €15,188 | +€491 | +3.3% |
| Trade debts | 44 | €943 | €85 | -€859 | -91.0% |
| Suppliers | 440/4 | €943 | €85 | -€859 | -91.0% |
| Taxes, remuneration and social security | 45 | €3,965 | €8,645 | +€4,680 | +118.0% |
| Taxes | 450/3 | €3,965 | €8,645 | +€4,680 | +118.0% |
| Other amounts payable | 47/48 | €129,204 | €109,165 | -€20,039 | -15.5% |
| Accrued charges and deferred income | 492/3 | €6,810 | €6,178 | -€632 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,246 | €23,663 | +€6,416 | +37.2% |
| Other operating charges | 640/8 | €1,097 | €1,589 | +€491 | +44.8% |
| Gross operating margin | 9900 | €41,460 | €54,760 | +€13,300 | +32.1% |
| Operating profit (loss) | 9901 | €23,116 | €29,508 | +€6,392 | +27.7% |
| Financial charges | 65/66B | €9,729 | €12,753 | +€3,024 | +31.1% |
| Recurring financial charges | 65 | €9,729 | €12,753 | +€3,024 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €13,388 | €16,756 | +€3,368 | +25.2% |
| Income taxes | 67/77 | €3,654 | €4,601 | +€947 | +25.9% |
| Profit (loss) for the period | 9904 | €9,734 | €12,155 | +€2,421 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,734 | €12,155 | +€2,421 | +24.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.