POLGROS: 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.
POLGROS
Largest movements
- Cash -€25,240
down €25,240 (-42.1%), from €59,987 to €34,748
mainly Contributions, distributions and other (-€17,473) and Trade debts (-€13,119)
- Receivables within one year +€5,589
up €5,589 (+88.1%), from €6,344 to €11,933
- Deferred charges and accrued income +€3,680
up €3,680 (+115%), from €3,191 to €6,871
- Tangible fixed assets +€3,108
up €3,108 (+28.5%), from €10,908 to €14,016
of which Other tangible fixed assets: +€4,574
- Stocks and contracts +€2,236
up €2,236 (+4.6%), from €48,678 to €50,914
- Tax, wage and social debts +€17,047
up €17,047 (+56.4%), from €30,232 to €47,280
of which Taxes: +€9,047
- Trade debts -€13,119
down €13,119 (-69.6%), from €18,844 to €5,725
- Profit (loss) carried forward -€12,260
down €12,260 (-83.7%), from €14,640 to €2,380
- Other debts -€2,296
no longer reported in 2025 (was €2,296)
- Staff costs +€27,455
up €27,455 (+15.2%), from €180,938 to €208,393
- Gross operating margin -€14,311
down €14,311 (-5.9%), from €242,190 to €227,879
- Financial charges -€3,190
down €3,190 (-29.5%), from €10,821 to €7,631
- Other operating charges -€2,431
down €2,431 (-74.1%), from €3,279 to €848
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 | €145,812 | €135,185 | -€10,627 | -7.3% |
| Fixed assets | 21/28 | €27,612 | €30,720 | +€3,108 | +11.3% |
| Tangible fixed assets | 22/27 | €10,908 | €14,016 | +€3,108 | +28.5% |
| Plant, machinery and equipment | 23 | €2,242 | €75 | -€2,167 | -96.7% |
| Furniture and vehicles | 24 | €2,560 | €3,261 | +€701 | +27.4% |
| Other tangible fixed assets | 26 | €6,105 | €10,679 | +€4,574 | +74.9% |
| Financial fixed assets | 28 | €16,704 | €16,704 | = | 0.0% |
| Current assets | 29/58 | €118,200 | €104,465 | -€13,735 | -11.6% |
| Stocks and contracts in progress | 3 | €48,678 | €50,914 | +€2,236 | +4.6% |
| Stocks | 30/36 | €48,678 | €50,914 | +€2,236 | +4.6% |
| Amounts receivable within one year | 40/41 | €6,344 | €11,933 | +€5,589 | +88.1% |
| Trade receivables | 40 | €6,344 | €11,933 | +€5,589 | +88.1% |
| Cash at bank and in hand | 54/58 | €59,987 | €34,748 | -€25,240 | -42.1% |
| Deferred charges and accrued income | 490/1 | €3,191 | €6,871 | +€3,680 | +115% |
| Total equity and liabilities | 10/49 | €145,812 | €135,185 | -€10,627 | -7.3% |
| Equity | 10/15 | €94,440 | €82,180 | -€12,260 | -13.0% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €19,800 | €19,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,800 | €19,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,800 | €19,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,640 | €2,380 | -€12,260 | -83.7% |
| Amounts payable | 17/49 | €51,372 | €53,005 | +€1,633 | +3.2% |
| Amounts payable within one year | 42/48 | €51,372 | €53,005 | +€1,633 | +3.2% |
| Trade debts | 44 | €18,844 | €5,725 | -€13,119 | -69.6% |
| Suppliers | 440/4 | €18,844 | €5,725 | -€13,119 | -69.6% |
| Taxes, remuneration and social security | 45 | €30,232 | €47,280 | +€17,047 | +56.4% |
| Taxes | 450/3 | €8,156 | €17,203 | +€9,047 | +111% |
| Remuneration and social security | 454/9 | €22,076 | €30,077 | +€8,001 | +36.2% |
| Other amounts payable | 47/48 | €2,296 | - | -€2,296 | |
| Remuneration, social security and pensions | 62 | €180,938 | €208,393 | +€27,455 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,734 | €5,660 | -€75 | -1.3% |
| Other operating charges | 640/8 | €3,279 | €848 | -€2,431 | -74.1% |
| Gross operating margin | 9900 | €242,190 | €227,879 | -€14,311 | -5.9% |
| Operating profit (loss) | 9901 | €52,239 | €12,979 | -€39,260 | -75.2% |
| Financial income | 75/76B | - | €142 | +€142 | |
| Recurring financial income | 75 | - | €142 | +€142 | |
| Financial charges | 65/66B | €10,821 | €7,631 | -€3,190 | -29.5% |
| Recurring financial charges | 65 | €10,821 | €7,631 | -€3,190 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €41,418 | €5,490 | -€35,928 | -86.7% |
| Income taxes | 67/77 | €439 | €277 | -€162 | -36.9% |
| Profit (loss) for the period | 9904 | €40,979 | €5,213 | -€35,766 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,979 | €5,213 | -€35,766 | -87.3% |
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 14 October 2026 via checked.be.