POLSA: 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.
What changed
POLSA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3,842
2024 · €11+€3,831
Equity
€225,221
2024 · €221,379+€3,842
Cash
€31,013
2024 · €38,380-€7,367
Balance sheet total
€1.1m
2024 · €1.1m-€5,607
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€31,875
down €31,875 (-8.2%), from €387,500 to €355,625
- Trade debts +€16,990
up €16,990 (+667%), from €2,547 to €19,537
of which Suppliers: +€8,968
Income statement
- Depreciation -€34,000
down €34,000 (-45.4%), from €74,871 to €40,872
- Gross operating margin -€21,154
down €21,154 (-17.7%), from €119,637 to €98,483
- Financial charges +€8,560
up €8,560 (+55.5%), from €15,423 to €23,983
- Taxes +€3,053
up €3,053, from -€1,046 to €2,008
- Staff costs -€1,703
down €1,703 (-12.5%), from €13,649 to €11,946
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.
Result 2024
€11
Gross operating margin
-€21,154
Staff costs
+€1,703
Depreciation
+€34,000
Provisions
+€50
Other operating charges
+€799
Financial income
+€46
Financial charges
-€8,560
Taxes
-€3,053
Result 2025
€3,842
raises the resultlowers the result
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.
From operations
+€68,426
Investment
-€40,793
Financing
-€35,000
Cash 2024
€38,380
From operations (derived)
+€68,426
Net result for the year
+€3,842
Depreciation
+€40,872
Receivables within one year
+€5,000
Deferred charges and accrued income
-€6,838
Trade debts
+€16,990
Tax, wage and social debts
+€3,933
Other debts
+€4,628
Investment (derived)
-€40,793
Investment in fixed assets (net)
-€40,793
Financing
-€35,000
Debts after one year
-€31,875
Current portion of long-term debt
-€3,125
Cash 2025
€31,013
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,082,876 | €1,077,270 | -€5,607 | -0.5% |
| Fixed assets | 21/28 | €1,017,408 | €1,017,329 | -€78 | 0.0% |
| Tangible fixed assets | 22/27 | €1,017,408 | €1,017,329 | -€78 | 0.0% |
| Land and buildings | 22 | €979,875 | €947,521 | -€32,354 | -3.3% |
| Plant, machinery and equipment | 23 | €34,869 | €67,315 | +€32,446 | +93.1% |
| Furniture and vehicles | 24 | €1,662 | €1,662 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,001 | €831 | -€170 | -17.0% |
| Current assets | 29/58 | €65,469 | €59,940 | -€5,528 | -8.4% |
| Amounts receivable within one year | 40/41 | €17,100 | €12,100 | -€5,000 | -29.2% |
| Trade receivables | 40 | €17,100 | €12,100 | -€5,000 | -29.2% |
| Cash at bank and in hand | 54/58 | €38,380 | €31,013 | -€7,367 | -19.2% |
| Deferred charges and accrued income | 490/1 | €9,989 | €16,827 | +€6,838 | +68.5% |
| Total equity and liabilities | 10/49 | €1,082,876 | €1,077,270 | -€5,607 | -0.5% |
| Equity | 10/15 | €221,379 | €225,221 | +€3,842 | +1.7% |
| Contributions | 10/11 | €137,941 | €137,941 | = | 0.0% |
| Capital | 10 | €137,941 | €137,941 | = | 0.0% |
| Issued capital | 100 | €161,131 | €161,131 | = | 0.0% |
| Uncalled capital | 101 | €23,190 | €23,190 | = | 0.0% |
| Reserves | 13 | €83,438 | €87,280 | +€3,842 | +4.6% |
| Non-distributable reserves | 130/1 | €16,113 | €16,113 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Distributable reserves | 133 | €67,325 | €71,167 | +€3,842 | +5.7% |
| Amounts payable | 17/49 | €861,498 | €852,049 | -€9,449 | -1.1% |
| Amounts payable after more than one year | 17 | €387,500 | €355,625 | -€31,875 | -8.2% |
| Financial debts | 170/4 | €387,500 | €355,625 | -€31,875 | -8.2% |
| Amounts payable within one year | 42/48 | €473,998 | €496,424 | +€22,426 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €37,500 | €34,375 | -€3,125 | -8.3% |
| Trade debts | 44 | €2,547 | €19,537 | +€16,990 | +667% |
| Suppliers | 440/4 | €2,547 | €11,515 | +€8,968 | +352% |
| Bills of exchange payable | 441 | - | €8,022 | +€8,022 | |
| Taxes, remuneration and social security | 45 | €1,238 | €5,171 | +€3,933 | +318% |
| Taxes | 450/3 | - | €3,438 | +€3,438 | |
| Remuneration and social security | 454/9 | €1,238 | €1,733 | +€495 | +40.0% |
| Other amounts payable | 47/48 | €432,713 | €437,341 | +€4,628 | +1.1% |
| Remuneration, social security and pensions | 62 | €13,649 | €11,946 | -€1,703 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,871 | €40,872 | -€34,000 | -45.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€50 | -€50 | |
| Other operating charges | 640/8 | €16,766 | €15,967 | -€799 | -4.8% |
| Gross operating margin | 9900 | €119,637 | €98,483 | -€21,154 | -17.7% |
| Operating profit (loss) | 9901 | €14,351 | €29,749 | +€15,398 | +107% |
| Financial income | 75/76B | €38 | €84 | +€46 | +122% |
| Recurring financial income | 75 | €38 | €84 | +€46 | +122% |
| Financial charges | 65/66B | €15,423 | €23,983 | +€8,560 | +55.5% |
| Recurring financial charges | 65 | €15,423 | €23,983 | +€8,560 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,035 | €5,850 | +€6,884 | |
| Income taxes | 67/77 | -€1,046 | €2,008 | +€3,053 | |
| Profit (loss) for the period | 9904 | €11 | €3,842 | +€3,831 | +35,374% |
| Profit (loss) for the period to be appropriated | 9905 | €11 | €3,842 | +€3,831 | +35,374% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.