Polese: 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.
Polese
Largest movements
- Current investments +€520,000
up €520,000 (+4727.3%), from €11,000 to €531,000
- Cash -€507,571
down €507,571 (-62.4%), from €813,758 to €306,187
mainly Current investments (-€520,000) and Smaller working-capital items (-€940)
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€2,306
down €2,306 (-38.6%), from €5,978 to €3,672
- Gross operating margin +€556
up €556 (+3.1%), from €18,165 to €18,721
- Staff costs +€506
up €506, from €0 to €506
- Other operating charges +€369
up €369 (+4.0%), from €9,166 to €9,534
- Financial charges +€226
up €226 (+231.7%), from €98 to €324
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 | €1,045,725 | €1,053,355 | +€7,631 | +0.7% |
| Fixed assets | 21/28 | €40,437 | €35,897 | -€4,540 | -11.2% |
| Tangible fixed assets | 22/27 | €39,759 | €35,219 | -€4,540 | -11.4% |
| Land and buildings | 22 | €30,771 | €28,787 | -€1,984 | -6.4% |
| Plant, machinery and equipment | 23 | €8,987 | €6,431 | -€2,556 | -28.4% |
| Financial fixed assets | 28 | €678 | €678 | = | 0.0% |
| Current assets | 29/58 | €1,005,288 | €1,017,458 | +€12,170 | +1.2% |
| Stocks and contracts in progress | 3 | €156,928 | €156,928 | = | 0.0% |
| Stocks | 30/36 | €156,928 | €156,928 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,305 | €17,160 | -€1,144 | -6.3% |
| Trade receivables | 40 | €11,452 | €13,975 | +€2,523 | +22.0% |
| Other amounts receivable | 41 | €6,853 | €3,185 | -€3,667 | -53.5% |
| Current investments | 50/53 | €11,000 | €531,000 | +€520,000 | +4727.3% |
| Cash at bank and in hand | 54/58 | €813,758 | €306,187 | -€507,571 | -62.4% |
| Deferred charges and accrued income | 490/1 | €5,298 | €6,183 | +€885 | +16.7% |
| Total equity and liabilities | 10/49 | €1,045,725 | €1,053,355 | +€7,631 | +0.7% |
| Equity | 10/15 | €1,002,553 | €1,006,280 | +€3,727 | +0.4% |
| Contributions | 10/11 | €532,064 | €532,064 | = | 0.0% |
| Reserves | 13 | €398,680 | €402,407 | +€3,727 | +0.9% |
| Tax-exempt reserves | 132 | €1,735 | €1,735 | = | 0.0% |
| Distributable reserves | 133 | €396,944 | €400,672 | +€3,727 | +0.9% |
| Profit (loss) carried forward | 14 | €71,809 | €71,809 | = | 0.0% |
| Amounts payable | 17/49 | €43,172 | €47,076 | +€3,903 | +9.0% |
| Amounts payable within one year | 42/48 | €41,806 | €46,514 | +€4,708 | +11.3% |
| Trade debts | 44 | €35,719 | €40,822 | +€5,102 | +14.3% |
| Suppliers | 440/4 | €35,719 | €40,822 | +€5,102 | +14.3% |
| Taxes, remuneration and social security | 45 | €4,594 | €4,200 | -€394 | -8.6% |
| Taxes | 450/3 | €4,594 | €4,200 | -€394 | -8.6% |
| Other amounts payable | 47/48 | €1,492 | €1,492 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,366 | €562 | -€805 | -58.9% |
| Non-recurring operating income | 76A | - | €82 | +€82 | |
| Remuneration, social security and pensions | 62 | €0 | €506 | +€506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,978 | €3,672 | -€2,306 | -38.6% |
| Other operating charges | 640/8 | €9,166 | €9,534 | +€369 | +4.0% |
| Gross operating margin | 9900 | €18,165 | €18,721 | +€556 | +3.1% |
| Operating profit (loss) | 9901 | €3,021 | €5,009 | +€1,987 | +65.8% |
| Financial income | 75/76B | €10 | €113 | +€102 | +1002.0% |
| Recurring financial income | 75 | €10 | €113 | +€102 | +1002.0% |
| Financial charges | 65/66B | €98 | €324 | +€226 | +231.7% |
| Recurring financial charges | 65 | €98 | €324 | +€226 | +231.7% |
| Profit (loss) for the period before taxes | 9903 | €2,934 | €4,797 | +€1,863 | +63.5% |
| Income taxes | 67/77 | €899 | €1,070 | +€171 | +19.0% |
| Profit (loss) for the period | 9904 | €2,035 | €3,727 | +€1,692 | +83.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €2,035 | €3,727 | +€1,692 | +83.2% |
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 8 October 2026 via checked.be.