POLPO: 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.
POLPO
Largest movements
- Cash +€24,945
up €24,945 (+175%), from €14,226 to €39,170
mainly Depreciation (+€30,136) and Trade debts (+€13,931)
- Intangible fixed assets -€24,432
down €24,432 (-100%), from €24,432 to €0
- Receivables within one year -€12,618
down €12,618 (-83.3%), from €15,157 to €2,538
of which Other amounts receivable: -€11,272
- Deferred charges and accrued income +€9,075
up €9,075 (+281%), from €3,232 to €12,307
- Stocks and contracts -€4,700
down €4,700 (-16.9%), from €27,805 to €23,106
- Other debts -€19,815
down €19,815 (-100%), from €19,815 to €0
- Trade debts +€13,931
up €13,931 (+90.3%), from €15,422 to €29,353
- Advances received -€1,743
down €1,743 (-31.1%), from €5,600 to €3,857
- Reserves -€1,333
down €1,333 (-11.1%), from €11,969 to €10,636
of which Distributable reserves: -€1,333
- Depreciation -€37,717
down €37,717 (-55.6%), from €67,854 to €30,136
- Financial income -€17,504
down €17,504 (-100.0%), from €17,509 to €5
of which Non-recurring financial income: -€17,500
- Gross operating margin -€14,638
down €14,638 (-6.1%), from €240,744 to €226,105
- Staff costs -€10,118
down €10,118 (-5.3%), from €192,609 to €182,491
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 | €100,286 | €90,911 | -€9,374 | -9.3% |
| Fixed assets | 21/28 | €39,866 | €13,790 | -€26,076 | -65.4% |
| Intangible fixed assets | 21 | €24,432 | €0 | -€24,432 | -100% |
| Tangible fixed assets | 22/27 | €15,434 | €13,790 | -€1,644 | -10.7% |
| Plant, machinery and equipment | 23 | €13,521 | €12,264 | -€1,258 | -9.3% |
| Furniture and vehicles | 24 | €1,912 | €1,526 | -€386 | -20.2% |
| Current assets | 29/58 | €60,420 | €77,122 | +€16,702 | +27.6% |
| Stocks and contracts in progress | 3 | €27,805 | €23,106 | -€4,700 | -16.9% |
| Stocks | 30/36 | €27,805 | €23,106 | -€4,700 | -16.9% |
| Amounts receivable within one year | 40/41 | €15,157 | €2,538 | -€12,618 | -83.3% |
| Trade receivables | 40 | €1,346 | €0 | -€1,346 | -100% |
| Other amounts receivable | 41 | €13,811 | €2,538 | -€11,272 | -81.6% |
| Cash at bank and in hand | 54/58 | €14,226 | €39,170 | +€24,945 | +175% |
| Deferred charges and accrued income | 490/1 | €3,232 | €12,307 | +€9,075 | +281% |
| Total equity and liabilities | 10/49 | €100,286 | €90,911 | -€9,374 | -9.3% |
| Equity | 10/15 | €31,969 | €29,883 | -€2,086 | -6.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,969 | €10,636 | -€1,333 | -11.1% |
| Non-distributable reserves | 130/1 | €438 | €438 | = | 0.0% |
| Reserves not available under the articles | 1311 | €438 | €438 | = | 0.0% |
| Distributable reserves | 133 | €11,531 | €10,198 | -€1,333 | -11.6% |
| Profit (loss) carried forward | 14 | - | -€753 | -€753 | |
| Amounts payable | 17/49 | €68,316 | €61,029 | -€7,288 | -10.7% |
| Amounts payable within one year | 42/48 | €68,316 | €61,029 | -€7,288 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €4,368 | €5,077 | +€710 | +16.3% |
| Trade debts | 44 | €15,422 | €29,353 | +€13,931 | +90.3% |
| Suppliers | 440/4 | €15,422 | €29,353 | +€13,931 | +90.3% |
| Advances received on contracts in progress | 46 | €5,600 | €3,857 | -€1,743 | -31.1% |
| Taxes, remuneration and social security | 45 | €23,112 | €22,742 | -€370 | -1.6% |
| Taxes | 450/3 | €8,517 | €12,423 | +€3,906 | +45.9% |
| Remuneration and social security | 454/9 | €14,595 | €10,318 | -€4,276 | -29.3% |
| Other amounts payable | 47/48 | €19,815 | €0 | -€19,815 | -100% |
| Non-recurring operating income | 76A | - | €1,430 | +€1,430 | |
| Remuneration, social security and pensions | 62 | €192,609 | €182,491 | -€10,118 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,854 | €30,136 | -€37,717 | -55.6% |
| Other operating charges | 640/8 | €3,418 | €3,729 | +€310 | +9.1% |
| Non-recurring operating charges | 66A | - | €5,792 | +€5,792 | |
| Gross operating margin | 9900 | €240,744 | €226,105 | -€14,638 | -6.1% |
| Operating profit (loss) | 9901 | -€23,137 | €3,958 | +€27,095 | |
| Financial income | 75/76B | €17,509 | €5 | -€17,504 | -100.0% |
| Recurring financial income | 75 | €9 | €5 | -€4 | -42.2% |
| Non-recurring financial income | 76B | €17,500 | - | -€17,500 | |
| Financial charges | 65/66B | €8,335 | €6,049 | -€2,285 | -27.4% |
| Recurring financial charges | 65 | €8,335 | €6,049 | -€2,285 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,963 | -€2,086 | +€11,876 | +85.1% |
| Income taxes | 67/77 | €199 | €0 | -€199 | -100% |
| Profit (loss) for the period | 9904 | -€14,161 | -€2,086 | +€12,075 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,161 | -€2,086 | +€12,075 | +85.3% |
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 21 October 2026 via checked.be.