POLESTAR: 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.
POLESTAR
Largest movements
- Cash +€99,767
up €99,767 (+66.2%), from €150,771 to €250,538
mainly Other debts (+€120,000) and Current portion of long-term debt (+€13,593)
- Other debts +€120,000
up €120,000 (+18.5%), from €650,195 to €770,195
- Debts after one year -€26,581
down €26,581 (-30.3%), from €87,590 to €61,009
- Current portion of long-term debt +€13,593
new in 2025: €13,593
- Financial charges -€750
down €750 (-13.0%), from €5,790 to €5,039
- Gross operating margin +€520
up €520 (+22.3%), from -€2,326 to -€1,806
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 | €719,366 | €819,132 | +€99,767 | +13.9% |
| Fixed assets | 21/28 | €468,595 | €468,595 | = | 0.0% |
| Financial fixed assets | 28 | €468,595 | €468,595 | = | 0.0% |
| Current assets | 29/58 | €250,771 | €350,538 | +€99,767 | +39.8% |
| Amounts receivable within one year | 40/41 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 41 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,771 | €250,538 | +€99,767 | +66.2% |
| Total equity and liabilities | 10/49 | €719,366 | €819,132 | +€99,767 | +13.9% |
| Equity | 10/15 | -€18,419 | -€25,665 | -€7,245 | -39.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,419 | -€28,665 | -€7,245 | -33.8% |
| Amounts payable | 17/49 | €737,785 | €844,797 | +€107,012 | +14.5% |
| Amounts payable after more than one year | 17 | €87,590 | €61,009 | -€26,581 | -30.3% |
| Financial debts | 170/4 | €87,590 | €61,009 | -€26,581 | -30.3% |
| Amounts payable within one year | 42/48 | €650,195 | €783,788 | +€133,593 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,593 | +€13,593 | |
| Other amounts payable | 47/48 | €650,195 | €770,195 | +€120,000 | +18.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€2,326 | -€1,806 | +€520 | +22.3% |
| Operating profit (loss) | 9901 | -€2,713 | -€2,206 | +€507 | +18.7% |
| Financial charges | 65/66B | €5,790 | €5,039 | -€750 | -13.0% |
| Recurring financial charges | 65 | €5,790 | €5,039 | -€750 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,503 | -€7,245 | +€1,258 | +14.8% |
| Profit (loss) for the period | 9904 | -€8,503 | -€7,245 | +€1,258 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,503 | -€7,245 | +€1,258 | +14.8% |
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 7 October 2026 via checked.be.