POLY - AL BOATS: 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.
POLY - AL BOATS
Largest movements
- Cash -€418,273
down €418,273 (-45.5%), from €918,456 to €500,183
mainly Short-term financial debts (-€550,000) and Debts after one year (-€112,953)
- Tangible fixed assets -€110,111
down €110,111 (-9.0%), from €1.2m to €1.1m
of which Land and buildings: -€61,515
- Stocks and contracts -€33,878
down €33,878 (-4.3%), from €782,463 to €748,585
- Short-term financial debts -€550,000
down €550,000 (-100%), from €550,000 to €0
- Reserves +€205,000
up €205,000 (+33.8%), from €606,692 to €811,692
- Debts after one year -€112,953
down €112,953 (-10.7%), from €1.1m to €945,356
- Trade debts -€78,677
down €78,677 (-32.2%), from €244,007 to €165,329
- Gross operating margin +€228,471
up €228,471 (+58.5%), from €390,487 to €618,959
- Staff costs +€80,774
up €80,774 (+86.3%), from €93,564 to €174,338
- Taxes +€30,699
up €30,699 (+87.1%), from €35,241 to €65,939
- Financial charges -€11,705
down €11,705 (-20.0%), from €58,493 to €46,788
- Depreciation +€7,579
up €7,579 (+7.2%), from €105,532 to €113,111
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 | €3,049,927 | €2,505,102 | -€544,825 | -17.9% |
| Fixed assets | 21/28 | €1,238,272 | €1,125,161 | -€113,111 | -9.1% |
| Intangible fixed assets | 21 | €10,729 | €7,729 | -€3,000 | -28.0% |
| Tangible fixed assets | 22/27 | €1,227,513 | €1,117,402 | -€110,111 | -9.0% |
| Land and buildings | 22 | €1,043,953 | €982,438 | -€61,515 | -5.9% |
| Plant, machinery and equipment | 23 | €7,260 | €2,596 | -€4,665 | -64.2% |
| Furniture and vehicles | 24 | €55,071 | €43,892 | -€11,179 | -20.3% |
| Leasing and similar rights | 25 | €121,229 | €88,477 | -€32,753 | -27.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €1,811,655 | €1,379,941 | -€431,714 | -23.8% |
| Stocks and contracts in progress | 3 | €782,463 | €748,585 | -€33,878 | -4.3% |
| Stocks | 30/36 | €782,463 | €748,585 | -€33,878 | -4.3% |
| Amounts receivable within one year | 40/41 | €105,418 | €126,656 | +€21,239 | +20.1% |
| Trade receivables | 40 | €90,140 | €111,390 | +€21,250 | +23.6% |
| Other amounts receivable | 41 | €15,278 | €15,266 | -€11 | -0.1% |
| Cash at bank and in hand | 54/58 | €918,456 | €500,183 | -€418,273 | -45.5% |
| Deferred charges and accrued income | 490/1 | €5,319 | €4,517 | -€802 | -15.1% |
| Total equity and liabilities | 10/49 | €3,049,927 | €2,505,102 | -€544,825 | -17.9% |
| Equity | 10/15 | €1,018,722 | €1,225,801 | +€207,079 | +20.3% |
| Contributions | 10/11 | €411,000 | €411,000 | = | 0.0% |
| Reserves | 13 | €606,692 | €811,692 | +€205,000 | +33.8% |
| Distributable reserves | 133 | €606,692 | €811,692 | +€205,000 | +33.8% |
| Profit (loss) carried forward | 14 | €1,031 | €3,109 | +€2,079 | +202% |
| Amounts payable | 17/49 | €2,031,205 | €1,279,301 | -€751,903 | -37.0% |
| Amounts payable after more than one year | 17 | €1,058,310 | €945,356 | -€112,953 | -10.7% |
| Financial debts | 170/4 | €1,058,310 | €945,356 | -€112,953 | -10.7% |
| Amounts payable within one year | 42/48 | €968,320 | €333,945 | -€634,375 | -65.5% |
| Current portion of amounts payable after more than one year | 42 | €128,713 | €110,968 | -€17,745 | -13.8% |
| Financial debts | 43 | €550,000 | €0 | -€550,000 | -100% |
| Credit institutions | 430/8 | €550,000 | €0 | -€550,000 | -100% |
| Trade debts | 44 | €244,007 | €165,329 | -€78,677 | -32.2% |
| Suppliers | 440/4 | €244,007 | €165,329 | -€78,677 | -32.2% |
| Taxes, remuneration and social security | 45 | €45,533 | €57,647 | +€12,114 | +26.6% |
| Taxes | 450/3 | €29,956 | €33,432 | +€3,476 | +11.6% |
| Remuneration and social security | 454/9 | €15,577 | €24,215 | +€8,638 | +55.5% |
| Other amounts payable | 47/48 | €66 | €0 | -€66 | -100% |
| Accrued charges and deferred income | 492/3 | €4,575 | €0 | -€4,575 | -100% |
| Remuneration, social security and pensions | 62 | €93,564 | €174,338 | +€80,774 | +86.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,532 | €113,111 | +€7,579 | +7.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €12,143 | €12,894 | +€751 | +6.2% |
| Gross operating margin | 9900 | €390,487 | €618,959 | +€228,471 | +58.5% |
| Operating profit (loss) | 9901 | €179,248 | €318,615 | +€139,367 | +77.8% |
| Financial income | 75/76B | €3,847 | €1,191 | -€2,657 | -69.0% |
| Recurring financial income | 75 | €3,847 | €1,191 | -€2,657 | -69.0% |
| Financial charges | 65/66B | €58,493 | €46,788 | -€11,705 | -20.0% |
| Recurring financial charges | 65 | €58,493 | €46,788 | -€11,705 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €124,603 | €273,018 | +€148,415 | +119% |
| Income taxes | 67/77 | €35,241 | €65,939 | +€30,699 | +87.1% |
| Profit (loss) for the period | 9904 | €89,363 | €207,079 | +€117,716 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €89,363 | €207,079 | +€117,716 | +132% |
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 24 October 2026 via checked.be.