POLY-BRAND: 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
POLY-BRAND
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€762,906
2024 · -€26,278+€789,184
Equity
€10.7m
2024 · €10.0m+€762,906
Cash
€21,291
2024 · €13,355+€7,936
Balance sheet total
€13.0m
2024 · €12.9m+€22,939
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€732,772
new in 2025: €732,772
- Other debts -€543,734
down €543,734 (-82.9%), from €656,161 to €112,427
- Debts after one year -€209,854
down €209,854 (-10.0%), from €2.1m to €1.9m
Income statement
- Financial income +€849,711
up €849,711 (+293,642%), from €289 to €850,000
- Financial charges +€80,118
up €80,118 (+647%), from €12,388 to €92,506
- Turnover +€24,000
new in 2025: €24,000
- Services and other goods +€8,763
up €8,763 (+86.9%), from €10,081 to €18,844
- Other operating charges -€2,840
down €2,840 (-72.9%), from €3,894 to €1,053
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
-€26,278
Turnover
+€24,000
Other operating income
+€1,470
Services and other goods
-€8,763
Depreciation
+€137
Other operating charges
+€2,840
Financial income
+€849,711
Financial charges
-€80,118
Taxes
-€93
Result 2025
€762,906
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
+€211,203
Investment
€0
Financing
-€203,267
Cash 2024
€13,355
From operations (derived)
+€211,203
Net result for the year
+€762,906
Depreciation
+€68
Receivables within one year
-€13,866
Smaller working-capital items
-€1,336
Tax, wage and social debts
+€7,165
Other debts
-€543,734
Financing
-€203,267
Debts after one year
-€209,854
Current portion of long-term debt
+€6,588
Cash 2025
€21,291
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,936,708 | €12,959,648 | +€22,939 | +0.2% |
| Formation expenses | 20 | €68 | €0 | -€68 | -100% |
| Fixed assets | 21/28 | €12,922,631 | €12,922,631 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,925,492 | €2,925,492 | = | 0.0% |
| Other tangible fixed assets | 26 | €2,925,492 | €2,925,492 | = | 0.0% |
| Financial fixed assets | 28 | €9,997,139 | €9,997,139 | = | 0.0% |
| Affiliated companies | 280/1 | €9,997,139 | €9,997,139 | = | 0.0% |
| Participating interests | 280 | €9,997,139 | €9,997,139 | = | 0.0% |
| Current assets | 29/58 | €14,009 | €37,017 | +€23,008 | +164% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €654 | €14,520 | +€13,866 | +2,120% |
| Trade receivables | 40 | - | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €654 | €0 | -€654 | -100% |
| Cash at bank and in hand | 54/58 | €13,355 | €21,291 | +€7,936 | +59.4% |
| Deferred charges and accrued income | 490/1 | - | €1,206 | +€1,206 | |
| Total equity and liabilities | 10/49 | €12,936,708 | €12,959,648 | +€22,939 | +0.2% |
| Equity | 10/15 | €9,969,005 | €10,731,911 | +€762,906 | +7.7% |
| Contributions | 10/11 | €9,999,139 | €9,999,139 | = | 0.0% |
| Reserves | 13 | - | €732,772 | +€732,772 | |
| Distributable reserves | 133 | - | €732,772 | +€732,772 | |
| Profit (loss) carried forward | 14 | -€30,134 | €0 | +€30,134 | |
| Amounts payable | 17/49 | €2,967,703 | €2,227,737 | -€739,966 | -24.9% |
| Amounts payable after more than one year | 17 | €2,107,233 | €1,897,379 | -€209,854 | -10.0% |
| Financial debts | 170/4 | €2,107,233 | €1,897,379 | -€209,854 | -10.0% |
| Credit institutions | 173 | €2,107,233 | €1,897,379 | -€209,854 | -10.0% |
| Amounts payable within one year | 42/48 | €860,470 | €330,358 | -€530,112 | -61.6% |
| Current portion of amounts payable after more than one year | 42 | €203,267 | €209,854 | +€6,588 | +3.2% |
| Trade debts | 44 | €1,042 | €912 | -€130 | -12.5% |
| Suppliers | 440/4 | €1,042 | €912 | -€130 | -12.5% |
| Taxes, remuneration and social security | 45 | - | €7,165 | +€7,165 | |
| Taxes | 450/3 | - | €4,470 | +€4,470 | |
| Remuneration and social security | 454/9 | - | €2,695 | +€2,695 | |
| Other amounts payable | 47/48 | €656,161 | €112,427 | -€543,734 | -82.9% |
| Operating income | 70/76A | - | €25,470 | +€25,470 | |
| Turnover | 70 | - | €24,000 | +€24,000 | |
| Other operating income | 74 | - | €1,470 | +€1,470 | |
| Operating charges | 60/66A | €14,180 | €19,966 | +€5,786 | +40.8% |
| Services and other goods | 61 | €10,081 | €18,844 | +€8,763 | +86.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €205 | €68 | -€137 | -66.7% |
| Other operating charges | 640/8 | €3,894 | €1,053 | -€2,840 | -72.9% |
| Operating profit (loss) | 9901 | -€14,180 | €5,504 | +€19,684 | |
| Financial income | 75/76B | €289 | €850,000 | +€849,711 | +293,642% |
| Recurring financial income | 75 | €289 | €850,000 | +€849,711 | +293,642% |
| Income from financial fixed assets | 750 | - | €850,000 | +€850,000 | |
| Other financial income | 752/9 | €289 | €0 | -€289 | -100% |
| Financial charges | 65/66B | €12,388 | €92,506 | +€80,118 | +647% |
| Recurring financial charges | 65 | €12,388 | €92,506 | +€80,118 | +647% |
| Debt charges | 650 | €11,321 | €91,832 | +€80,511 | +711% |
| Other financial charges | 652/9 | €1,067 | €674 | -€393 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,278 | €762,999 | +€789,277 | |
| Income taxes | 67/77 | - | €93 | +€93 | |
| Taxes | 670/3 | - | €93 | +€93 | |
| Profit (loss) for the period | 9904 | -€26,278 | €762,906 | +€789,184 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,278 | €762,906 | +€789,184 |
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.