POLHUYS: 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.
POLHUYS
Largest movements
- Receivables within one year +€87,117
up €87,117 (+218.0%), from €39,968 to €127,086
of which Trade receivables: +€86,938
- Tangible fixed assets -€57,184
down €57,184 (-3.5%), from €1.6m to €1.6m
of which Plant, machinery and equipment: -€35,698
- Cash -€46,876
down €46,876 (-72.3%), from €64,808 to €17,932
mainly Receivables within one year (-€87,117) and Other debts (-€41,970)
- Other debts -€41,970
down €41,970 (-2.9%), from €1.5m to €1.4m
- Profit (loss) carried forward +€31,400
up €31,400 (+18.0%), from -€174,363 to -€142,963
- Gross operating margin -€36,749
down €36,749 (-13.2%), from €279,189 to €242,440
- Depreciation -€10,952
down €10,952 (-13.7%), from €79,733 to €68,781
- Staff costs +€4,949
up €4,949 (+3.8%), from €129,819 to €134,768
- Other operating charges -€3,699
down €3,699 (-38.4%), from €9,634 to €5,935
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 | €1,738,271 | €1,721,507 | -€16,764 | -1.0% |
| Fixed assets | 21/28 | €1,631,561 | €1,574,378 | -€57,184 | -3.5% |
| Tangible fixed assets | 22/27 | €1,630,986 | €1,573,803 | -€57,184 | -3.5% |
| Land and buildings | 22 | €893,864 | €862,286 | -€31,578 | -3.5% |
| Plant, machinery and equipment | 23 | €724,072 | €688,375 | -€35,698 | -4.9% |
| Furniture and vehicles | 24 | €1,804 | €11,896 | +€10,092 | +559.6% |
| Other tangible fixed assets | 26 | €11,246 | €11,246 | = | 0.0% |
| Financial fixed assets | 28 | €575 | €575 | = | 0.0% |
| Current assets | 29/58 | €106,710 | €147,129 | +€40,419 | +37.9% |
| Amounts receivable within one year | 40/41 | €39,968 | €127,086 | +€87,117 | +218.0% |
| Trade receivables | 40 | €36,886 | €123,824 | +€86,938 | +235.7% |
| Other amounts receivable | 41 | €3,082 | €3,261 | +€179 | +5.8% |
| Cash at bank and in hand | 54/58 | €64,808 | €17,932 | -€46,876 | -72.3% |
| Deferred charges and accrued income | 490/1 | €1,933 | €2,111 | +€178 | +9.2% |
| Total equity and liabilities | 10/49 | €1,738,271 | €1,721,507 | -€16,764 | -1.0% |
| Equity | 10/15 | -€112,363 | -€80,963 | +€31,400 | +27.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,363 | -€142,963 | +€31,400 | +18.0% |
| Amounts payable | 17/49 | €1,850,634 | €1,802,470 | -€48,164 | -2.6% |
| Amounts payable within one year | 42/48 | €1,850,634 | €1,802,470 | -€48,164 | -2.6% |
| Financial debts | 43 | €311,714 | €311,714 | = | 0.0% |
| Other loans | 439 | €311,714 | €311,714 | = | 0.0% |
| Trade debts | 44 | €36,876 | €29,177 | -€7,699 | -20.9% |
| Suppliers | 440/4 | €36,876 | €29,177 | -€7,699 | -20.9% |
| Taxes, remuneration and social security | 45 | €31,625 | €33,130 | +€1,505 | +4.8% |
| Taxes | 450/3 | €17,214 | €18,234 | +€1,021 | +5.9% |
| Remuneration and social security | 454/9 | €14,412 | €14,896 | +€484 | +3.4% |
| Other amounts payable | 47/48 | €1,470,419 | €1,428,449 | -€41,970 | -2.9% |
| Remuneration, social security and pensions | 62 | €129,819 | €134,768 | +€4,949 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,733 | €68,781 | -€10,952 | -13.7% |
| Other operating charges | 640/8 | €9,634 | €5,935 | -€3,699 | -38.4% |
| Gross operating margin | 9900 | €279,189 | €242,440 | -€36,749 | -13.2% |
| Operating profit (loss) | 9901 | €60,003 | €32,957 | -€27,047 | -45.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -92.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -92.1% |
| Financial charges | 65/66B | €3,505 | €1,189 | -€2,315 | -66.1% |
| Recurring financial charges | 65 | €3,505 | €1,189 | -€2,315 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €56,499 | €31,767 | -€24,732 | -43.8% |
| Income taxes | 67/77 | €359 | €367 | +€8 | +2.3% |
| Profit (loss) for the period | 9904 | €56,140 | €31,400 | -€24,740 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,140 | €31,400 | -€24,740 | -44.1% |
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.