Poli-Protect: 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.
Poli-Protect
Largest movements
- Receivables within one year +€50,284
up €50,284 (+124%), from €40,678 to €90,962
- Tangible fixed assets -€6,157
down €6,157 (-1.8%), from €334,827 to €328,670
of which Other tangible fixed assets: -€8,490
- Cash +€5,793
up €5,793 (+9.3%), from €62,550 to €68,343
mainly Depreciation (+€67,654) and Trade debts (+€23,300)
- Debts after one year -€27,940
down €27,940 (-10.5%), from €266,408 to €238,467
- Trade debts +€23,300
up €23,300 (+41.8%), from €55,759 to €79,059
- Tax, wage and social debts +€20,435
up €20,435 (+115%), from €17,708 to €38,143
of which Taxes: +€19,278
- Current portion of long-term debt +€15,510
up €15,510 (+59.9%), from €25,878 to €41,388
- Reserves +€15,485
up €15,485 (+30.4%), from €50,962 to €66,447
- Gross operating margin +€54,630
up €54,630 (+42.0%), from €130,165 to €184,795
- Staff costs +€23,240
up €23,240 (+45.1%), from €51,555 to €74,795
- Depreciation +€20,932
up €20,932 (+44.8%), from €46,722 to €67,654
- Taxes +€2,707
up €2,707 (+63.2%), from €4,281 to €6,989
- Financial charges +€2,561
up €2,561 (+15.3%), from €16,701 to €19,263
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 | €455,379 | €506,831 | +€51,452 | +11.3% |
| Fixed assets | 21/28 | €334,827 | €328,670 | -€6,157 | -1.8% |
| Tangible fixed assets | 22/27 | €334,827 | €328,670 | -€6,157 | -1.8% |
| Land and buildings | 22 | - | €2,387 | +€2,387 | |
| Plant, machinery and equipment | 23 | €228,999 | €226,952 | -€2,047 | -0.9% |
| Furniture and vehicles | 24 | - | €1,992 | +€1,992 | |
| Other tangible fixed assets | 26 | €105,828 | €97,339 | -€8,490 | -8.0% |
| Current assets | 29/58 | €120,551 | €178,161 | +€57,610 | +47.8% |
| Stocks and contracts in progress | 3 | €11,325 | €11,325 | = | 0.0% |
| Stocks | 30/36 | €11,325 | €11,325 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,678 | €90,962 | +€50,284 | +124% |
| Trade receivables | 40 | €40,678 | €90,962 | +€50,284 | +124% |
| Cash at bank and in hand | 54/58 | €62,550 | €68,343 | +€5,793 | +9.3% |
| Deferred charges and accrued income | 490/1 | €5,998 | €7,531 | +€1,533 | +25.6% |
| Total equity and liabilities | 10/49 | €455,379 | €506,831 | +€51,452 | +11.3% |
| Equity | 10/15 | €70,962 | €86,447 | +€15,485 | +21.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €50,962 | €66,447 | +€15,485 | +30.4% |
| Distributable reserves | 133 | €50,962 | €66,447 | +€15,485 | +30.4% |
| Amounts payable | 17/49 | €384,416 | €420,384 | +€35,967 | +9.4% |
| Amounts payable after more than one year | 17 | €266,408 | €238,467 | -€27,940 | -10.5% |
| Financial debts | 170/4 | €266,408 | €238,467 | -€27,940 | -10.5% |
| Amounts payable within one year | 42/48 | €117,882 | €181,789 | +€63,908 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €25,878 | €41,388 | +€15,510 | +59.9% |
| Trade debts | 44 | €55,759 | €79,059 | +€23,300 | +41.8% |
| Suppliers | 440/4 | €55,759 | €79,059 | +€23,300 | +41.8% |
| Taxes, remuneration and social security | 45 | €17,708 | €38,143 | +€20,435 | +115% |
| Taxes | 450/3 | €16,429 | €35,707 | +€19,278 | +117% |
| Remuneration and social security | 454/9 | €1,279 | €2,436 | +€1,157 | +90.5% |
| Other amounts payable | 47/48 | €18,537 | €23,199 | +€4,662 | +25.2% |
| Accrued charges and deferred income | 492/3 | €127 | €127 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €51,555 | €74,795 | +€23,240 | +45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,722 | €67,654 | +€20,932 | +44.8% |
| Other operating charges | 640/8 | €528 | €610 | +€82 | +15.5% |
| Gross operating margin | 9900 | €130,165 | €184,795 | +€54,630 | +42.0% |
| Operating profit (loss) | 9901 | €31,360 | €41,736 | +€10,376 | +33.1% |
| Financial charges | 65/66B | €16,701 | €19,263 | +€2,561 | +15.3% |
| Recurring financial charges | 65 | €16,701 | €19,263 | +€2,561 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €14,659 | €22,474 | +€7,815 | +53.3% |
| Income taxes | 67/77 | €4,281 | €6,989 | +€2,707 | +63.2% |
| Profit (loss) for the period | 9904 | €10,377 | €15,485 | +€5,108 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,377 | €15,485 | +€5,108 | +49.2% |
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 13 October 2026 via checked.be.