POLWERK: 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.
POLWERK
Largest movements
- Receivables after one year +€18,500
up €18,500 (+114.2%), from €16,200 to €34,700
- Receivables within one year -€4,768
down €4,768 (-11.0%), from €43,418 to €38,650
of which Trade receivables: -€5,662
- Cash -€3,350
down €3,350 (-29.9%), from €11,202 to €7,852
mainly Receivables after one year (-€18,500) and Tax, wage and social debts (-€4,840)
- Tangible fixed assets -€1,462
down €1,462 (-50.2%), from €2,912 to €1,450
- Accrued charges and deferred income +€13,151
up €13,151 (+380.2%), from €3,459 to €16,609
- Tax, wage and social debts -€4,840
down €4,840 (-41.9%), from €11,554 to €6,714
of which Taxes: -€8,290
- Other debts -€3,699
down €3,699 (-95.2%), from €3,887 to €188
- Reserves +€2,500
up €2,500 (+5.3%), from €47,200 to €49,700
- Trade debts +€2,365
up €2,365 (+287.4%), from €823 to €3,188
- Financial income +€661
up €661 (+173.5%), from €381 to €1,042
- Taxes +€301
up €301 (+19.4%), from €1,554 to €1,855
- Depreciation +€261
up €261 (+21.7%), from €1,201 to €1,462
- Other operating charges -€100
down €100 (-12.9%), from €776 to €675
- Gross operating margin +€90
up €90 (+1.4%), from €6,370 to €6,460
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 | €74,399 | €83,937 | +€9,539 | +12.8% |
| Fixed assets | 21/28 | €2,912 | €1,450 | -€1,462 | -50.2% |
| Tangible fixed assets | 22/27 | €2,912 | €1,450 | -€1,462 | -50.2% |
| Furniture and vehicles | 24 | €2,912 | €1,450 | -€1,462 | -50.2% |
| Current assets | 29/58 | €71,486 | €82,487 | +€11,001 | +15.4% |
| Amounts receivable after more than one year | 29 | €16,200 | €34,700 | +€18,500 | +114.2% |
| Other amounts receivable | 291 | €16,200 | €34,700 | +€18,500 | +114.2% |
| Amounts receivable within one year | 40/41 | €43,418 | €38,650 | -€4,768 | -11.0% |
| Trade receivables | 40 | €42,524 | €36,863 | -€5,662 | -13.3% |
| Other amounts receivable | 41 | €893 | €1,787 | +€894 | +100.1% |
| Cash at bank and in hand | 54/58 | €11,202 | €7,852 | -€3,350 | -29.9% |
| Deferred charges and accrued income | 490/1 | €666 | €1,285 | +€619 | +92.8% |
| Total equity and liabilities | 10/49 | €74,399 | €83,937 | +€9,539 | +12.8% |
| Equity | 10/15 | €54,676 | €57,238 | +€2,562 | +4.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €47,200 | €49,700 | +€2,500 | +5.3% |
| Distributable reserves | 133 | €47,200 | €49,700 | +€2,500 | +5.3% |
| Profit (loss) carried forward | 14 | €476 | €538 | +€62 | +13.0% |
| Amounts payable | 17/49 | €19,722 | €26,699 | +€6,977 | +35.4% |
| Amounts payable within one year | 42/48 | €16,264 | €10,090 | -€6,174 | -38.0% |
| Trade debts | 44 | €823 | €3,188 | +€2,365 | +287.4% |
| Suppliers | 440/4 | €823 | €3,188 | +€2,365 | +287.4% |
| Taxes, remuneration and social security | 45 | €11,554 | €6,714 | -€4,840 | -41.9% |
| Taxes | 450/3 | €11,554 | €3,264 | -€8,290 | -71.8% |
| Remuneration and social security | 454/9 | - | €3,450 | +€3,450 | |
| Other amounts payable | 47/48 | €3,887 | €188 | -€3,699 | -95.2% |
| Accrued charges and deferred income | 492/3 | €3,459 | €16,609 | +€13,151 | +380.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,201 | €1,462 | +€261 | +21.7% |
| Other operating charges | 640/8 | €776 | €675 | -€100 | -12.9% |
| Gross operating margin | 9900 | €6,370 | €6,460 | +€90 | +1.4% |
| Operating profit (loss) | 9901 | €4,393 | €4,323 | -€71 | -1.6% |
| Financial income | 75/76B | €381 | €1,042 | +€661 | +173.5% |
| Recurring financial income | 75 | €381 | €1,042 | +€661 | +173.5% |
| Financial charges | 65/66B | €901 | €947 | +€46 | +5.1% |
| Recurring financial charges | 65 | €901 | €947 | +€46 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €3,873 | €4,417 | +€544 | +14.0% |
| Income taxes | 67/77 | €1,554 | €1,855 | +€301 | +19.4% |
| Profit (loss) for the period | 9904 | €2,319 | €2,562 | +€243 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,319 | €2,562 | +€243 | +10.5% |
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 12 October 2026 via checked.be.