Polsa: 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.
Polsa
Largest movements
- Tangible fixed assets +€134,541
up €134,541 (+16.9%), from €794,735 to €929,276
of which Land and buildings: +€144,081
- Receivables within one year +€11,459
up €11,459 (+876.2%), from €1,308 to €12,767
of which Trade receivables: +€11,071
- Debts after one year +€100,829
up €100,829 (+24.6%), from €409,283 to €510,112
- Profit (loss) carried forward +€66,641
up €66,641 (+35.3%), from -€188,713 to -€122,072
- Reserves -€40,000
no longer reported in 2025 (was €40,000)
- Current portion of long-term debt +€12,667
up €12,667 (+18.1%), from €70,171 to €82,837
- Depreciation +€68,230
up €68,230 (+372.5%), from €18,317 to €86,547
- Gross operating margin +€39,587
up €39,587 (+40.8%), from €97,004 to €136,591
- Financial charges +€2,600
up €2,600 (+17.2%), from €15,074 to €17,674
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 | €805,223 | €954,306 | +€149,083 | +18.5% |
| Formation expenses | 20 | €6,701 | €10,847 | +€4,146 | +61.9% |
| Fixed assets | 21/28 | €794,735 | €929,276 | +€134,541 | +16.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €794,735 | €929,276 | +€134,541 | +16.9% |
| Land and buildings | 22 | €738,975 | €883,056 | +€144,081 | +19.5% |
| Plant, machinery and equipment | 23 | €55,760 | €46,220 | -€9,540 | -17.1% |
| Current assets | 29/58 | €3,786 | €14,183 | +€10,396 | +274.6% |
| Stocks and contracts in progress | 3 | €509 | €486 | -€23 | -4.5% |
| Stocks | 30/36 | €509 | €486 | -€23 | -4.5% |
| Amounts receivable within one year | 40/41 | €1,308 | €12,767 | +€11,459 | +876.2% |
| Trade receivables | 40 | - | €11,071 | +€11,071 | |
| Other amounts receivable | 41 | €1,308 | €1,697 | +€389 | +29.7% |
| Cash at bank and in hand | 54/58 | €1,970 | €929 | -€1,040 | -52.8% |
| Total equity and liabilities | 10/49 | €805,223 | €954,306 | +€149,083 | +18.5% |
| Equity | 10/15 | €1,287 | €27,928 | +€26,641 | +2070.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €40,000 | - | -€40,000 | |
| Distributable reserves | 133 | €40,000 | - | -€40,000 | |
| Profit (loss) carried forward | 14 | -€188,713 | -€122,072 | +€66,641 | +35.3% |
| Amounts payable | 17/49 | €803,936 | €926,378 | +€122,442 | +15.2% |
| Amounts payable after more than one year | 17 | €409,283 | €510,112 | +€100,829 | +24.6% |
| Financial debts | 170/4 | €409,283 | €510,112 | +€100,829 | +24.6% |
| Amounts payable within one year | 42/48 | €394,653 | €416,266 | +€21,613 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €70,171 | €82,837 | +€12,667 | +18.1% |
| Trade debts | 44 | €146 | €7,313 | +€7,167 | +4913.5% |
| Suppliers | 440/4 | €146 | €7,313 | +€7,167 | +4913.5% |
| Taxes, remuneration and social security | 45 | €1,905 | €937 | -€967 | -50.8% |
| Taxes | 450/3 | €1,905 | €937 | -€967 | -50.8% |
| Other amounts payable | 47/48 | €322,432 | €325,179 | +€2,747 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,317 | €86,547 | +€68,230 | +372.5% |
| Other operating charges | 640/8 | €6,002 | €5,747 | -€255 | -4.3% |
| Gross operating margin | 9900 | €97,004 | €136,591 | +€39,587 | +40.8% |
| Operating profit (loss) | 9901 | €72,685 | €44,297 | -€28,388 | -39.1% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €15,074 | €17,674 | +€2,600 | +17.2% |
| Recurring financial charges | 65 | €15,074 | €17,674 | +€2,600 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €57,611 | €26,641 | -€30,970 | -53.8% |
| Profit (loss) for the period | 9904 | €57,611 | €26,641 | -€30,970 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,611 | €26,641 | -€30,970 | -53.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.