Polizzinvest Group: what changed
Polizzinvest Group
Largest movements
- Stocks and contracts -€284,500
down €284,500 (-78.6%), from €362,000 to €77,500
- Cash -€23,385
down €23,385 (-55.2%), from €42,399 to €19,014
mainly Short-term financial debts (-€305,000) and Net result for the year (-€29,949)
- Tangible fixed assets -€19,835
down €19,835 (-33.7%), from €58,896 to €39,061
of which Furniture and vehicles: -€15,947
- Receivables within one year +€19,273
up €19,273 (+43.4%), from €44,362 to €63,635
of which Trade receivables: +€28,422
- Short-term financial debts -€305,000
no longer reported in 2025 (was €305,000)
- Other debts +€45,721
up €45,721 (+52.6%), from €86,895 to €132,616
- Profit (loss) carried forward -€29,949
down €29,949 (-79.3%), from €37,752 to €7,803
- Debts after one year -€15,228
down €15,228 (-41.8%), from €36,443 to €21,215
- Current portion of long-term debt -€5,795
down €5,795 (-27.6%), from €21,023 to €15,228
- Gross operating margin -€21,165
down €21,165 (-54.9%), from €38,528 to €17,363
- Financial charges +€18,821
up €18,821 (+262%), from €7,190 to €26,011
- Depreciation -€10,710
down €10,710 (-35.1%), from €30,545 to €19,835
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €507,710 | €199,263 | -€308,448 | -60.8% |
| Fixed assets | 21/28 | €58,896 | €39,061 | -€19,835 | -33.7% |
| Tangible fixed assets | 22/27 | €58,896 | €39,061 | -€19,835 | -33.7% |
| Plant, machinery and equipment | 23 | €15,841 | €11,953 | -€3,888 | -24.5% |
| Furniture and vehicles | 24 | €43,055 | €27,108 | -€15,947 | -37.0% |
| Current assets | 29/58 | €448,814 | €160,202 | -€288,613 | -64.3% |
| Stocks and contracts in progress | 3 | €362,000 | €77,500 | -€284,500 | -78.6% |
| Stocks | 30/36 | €362,000 | €77,500 | -€284,500 | -78.6% |
| Amounts receivable within one year | 40/41 | €44,362 | €63,635 | +€19,273 | +43.4% |
| Trade receivables | 40 | €33,979 | €62,402 | +€28,422 | +83.6% |
| Other amounts receivable | 41 | €10,383 | €1,233 | -€9,150 | -88.1% |
| Cash at bank and in hand | 54/58 | €42,399 | €19,014 | -€23,385 | -55.2% |
| Deferred charges and accrued income | 490/1 | €53 | €53 | = | 0.0% |
| Total equity and liabilities | 10/49 | €507,710 | €199,263 | -€308,448 | -60.8% |
| Equity | 10/15 | €58,212 | €28,263 | -€29,949 | -51.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,752 | €7,803 | -€29,949 | -79.3% |
| Amounts payable | 17/49 | €449,498 | €171,000 | -€278,498 | -62.0% |
| Amounts payable after more than one year | 17 | €36,443 | €21,215 | -€15,228 | -41.8% |
| Financial debts | 170/4 | €36,443 | €21,215 | -€15,228 | -41.8% |
| Amounts payable within one year | 42/48 | €413,055 | €149,785 | -€263,270 | -63.7% |
| Current portion of amounts payable after more than one year | 42 | €21,023 | €15,228 | -€5,795 | -27.6% |
| Financial debts | 43 | €305,000 | - | -€305,000 | |
| Credit institutions | 430/8 | €305,000 | - | -€305,000 | |
| Trade debts | 44 | €137 | €1,941 | +€1,804 | +1,317% |
| Suppliers | 440/4 | €137 | €1,941 | +€1,804 | +1,317% |
| Other amounts payable | 47/48 | €86,895 | €132,616 | +€45,721 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,545 | €19,835 | -€10,710 | -35.1% |
| Other operating charges | 640/8 | €1,116 | €1,466 | +€350 | +31.4% |
| Gross operating margin | 9900 | €38,528 | €17,363 | -€21,165 | -54.9% |
| Operating profit (loss) | 9901 | €6,867 | -€3,938 | -€10,806 | |
| Financial charges | 65/66B | €7,190 | €26,011 | +€18,821 | +262% |
| Recurring financial charges | 65 | €7,190 | €26,011 | +€18,821 | +262% |
| Profit (loss) for the period before taxes | 9903 | -€323 | -€29,949 | -€29,627 | -9,183% |
| Income taxes | 67/77 | €251 | - | -€251 | |
| Profit (loss) for the period | 9904 | -€574 | -€29,949 | -€29,376 | -5,120% |
| Profit (loss) for the period to be appropriated | 9905 | -€574 | -€29,949 | -€29,376 | -5,120% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.