POLICAM: 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.
POLICAM
Largest movements
- Cash +€74,244
up €74,244 (+450.3%), from €16,486 to €90,730
mainly Net result for the year (+€87,786) and Receivables within one year (+€63,714)
- Receivables within one year -€63,714
down €63,714 (-62.0%), from €102,805 to €39,092
of which Other amounts receivable: -€64,258
- Tangible fixed assets -€41,460
down €41,460 (-13.5%), from €307,329 to €265,869
of which Furniture and vehicles: -€31,189
- Debts after one year -€25,640
down €25,640 (-53.6%), from €47,792 to €22,152
- Reserves -€17,328
down €17,328 (-5.7%), from €305,035 to €287,707
of which Distributable reserves: -€17,328
- Trade debts +€9,464
up €9,464 (+294.1%), from €3,218 to €12,682
- Gross operating margin -€7,410
down €7,410 (-4.2%), from €177,487 to €170,077
- Depreciation -€3,400
down €3,400 (-8.4%), from €40,346 to €36,945
- Financial charges -€1,938
down €1,938 (-42.6%), from €4,550 to €2,611
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 | €455,561 | €428,082 | -€27,479 | -6.0% |
| Fixed assets | 21/28 | €307,329 | €265,869 | -€41,460 | -13.5% |
| Tangible fixed assets | 22/27 | €307,329 | €265,869 | -€41,460 | -13.5% |
| Land and buildings | 22 | €199,412 | €190,890 | -€8,522 | -4.3% |
| Plant, machinery and equipment | 23 | €1,749 | €0 | -€1,749 | -100.0% |
| Furniture and vehicles | 24 | €106,167 | €74,978 | -€31,189 | -29.4% |
| Current assets | 29/58 | €148,232 | €162,213 | +€13,981 | +9.4% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €102,805 | €39,092 | -€63,714 | -62.0% |
| Trade receivables | 40 | €330 | €874 | +€544 | +165.0% |
| Other amounts receivable | 41 | €102,476 | €38,218 | -€64,258 | -62.7% |
| Cash at bank and in hand | 54/58 | €16,486 | €90,730 | +€74,244 | +450.3% |
| Deferred charges and accrued income | 490/1 | €3,940 | €7,391 | +€3,451 | +87.6% |
| Total equity and liabilities | 10/49 | €455,561 | €428,082 | -€27,479 | -6.0% |
| Equity | 10/15 | €366,535 | €349,207 | -€17,328 | -4.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €305,035 | €287,707 | -€17,328 | -5.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €298,835 | €281,507 | -€17,328 | -5.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,026 | €78,875 | -€10,151 | -11.4% |
| Amounts payable after more than one year | 17 | €47,792 | €22,152 | -€25,640 | -53.6% |
| Financial debts | 170/4 | €47,792 | €22,152 | -€25,640 | -53.6% |
| Amounts payable within one year | 42/48 | €40,223 | €56,723 | +€16,500 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €24,650 | €25,640 | +€990 | +4.0% |
| Trade debts | 44 | €3,218 | €12,682 | +€9,464 | +294.1% |
| Suppliers | 440/4 | €3,218 | €12,682 | +€9,464 | +294.1% |
| Taxes, remuneration and social security | 45 | €11,522 | €13,658 | +€2,136 | +18.5% |
| Taxes | 450/3 | €11,522 | €13,658 | +€2,136 | +18.5% |
| Other amounts payable | 47/48 | €833 | €4,743 | +€3,910 | +469.4% |
| Accrued charges and deferred income | 492/3 | €1,011 | €0 | -€1,011 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,346 | €36,945 | -€3,400 | -8.4% |
| Other operating charges | 640/8 | €4,897 | €6,403 | +€1,507 | +30.8% |
| Gross operating margin | 9900 | €177,487 | €170,077 | -€7,410 | -4.2% |
| Operating profit (loss) | 9901 | €132,245 | €126,728 | -€5,516 | -4.2% |
| Financial income | 75/76B | €2,730 | €3,746 | +€1,016 | +37.2% |
| Recurring financial income | 75 | €2,730 | €3,746 | +€1,016 | +37.2% |
| Financial charges | 65/66B | €4,550 | €2,611 | -€1,938 | -42.6% |
| Recurring financial charges | 65 | €4,550 | €2,611 | -€1,938 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €130,425 | €127,863 | -€2,562 | -2.0% |
| Income taxes | 67/77 | €40,403 | €40,078 | -€325 | -0.8% |
| Profit (loss) for the period | 9904 | €90,023 | €87,786 | -€2,237 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,023 | €87,786 | -€2,237 | -2.5% |
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.