Poly-Color: 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.
Poly-Color
Largest movements
- Cash +€52,514
up €52,514 (+147.4%), from €35,638 to €88,152
mainly Stocks and contracts (+€33,266) and Net result for the year (+€24,622)
- Stocks and contracts -€33,266
down €33,266 (-57.1%), from €58,233 to €24,967
- Formation expenses -€9,539
no longer reported in 2025 (was €9,539)
- Receivables within one year +€5,016
up €5,016 (+91.4%), from €5,491 to €10,507
of which Trade receivables: +€10,507
- Reserves +€16,117
up €16,117 (+216.7%), from €7,437 to €23,554
of which Distributable reserves: +€16,117
- Debts after one year -€10,535
down €10,535 (-20.0%), from €52,692 to €42,156
- Profit (loss) carried forward +€8,505
up €8,505, from -€8,505 to €0
- Tax, wage and social debts +€6,531
up €6,531 (+71.4%), from €9,148 to €15,679
- Gross operating margin +€23,687
up €23,687 (+70.9%), from €33,391 to €57,078
- Taxes +€7,730
up €7,730 (+148.3%), from €5,213 to €12,943
- Financial charges -€2,674
down €2,674 (-36.3%), from €7,363 to €4,689
of which Financial charges: -€1,574
- Financial income -€1,793
down €1,793 (-34.0%), from €5,274 to €3,481
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 | €271,228 | €286,883 | +€15,656 | +5.8% |
| Formation expenses | 20 | €9,539 | - | -€9,539 | |
| Fixed assets | 21/28 | €136,301 | €139,276 | +€2,975 | +2.2% |
| Tangible fixed assets | 22/27 | €136,301 | €139,126 | +€2,825 | +2.1% |
| Land and buildings | 22 | €132,715 | €136,804 | +€4,088 | +3.1% |
| Plant, machinery and equipment | 23 | €1,949 | €1,299 | -€650 | -33.3% |
| Furniture and vehicles | 24 | €1,637 | €1,023 | -€614 | -37.5% |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €125,388 | €147,607 | +€22,220 | +17.7% |
| Stocks and contracts in progress | 3 | €58,233 | €24,967 | -€33,266 | -57.1% |
| Stocks | 30/36 | €58,233 | €24,967 | -€33,266 | -57.1% |
| Amounts receivable within one year | 40/41 | €5,491 | €10,507 | +€5,016 | +91.4% |
| Trade receivables | 40 | €0 | €10,507 | +€10,507 | |
| Other amounts receivable | 41 | €5,491 | €0 | -€5,491 | -100.0% |
| Cash at bank and in hand | 54/58 | €35,638 | €88,152 | +€52,514 | +147.4% |
| Deferred charges and accrued income | 490/1 | €26,026 | €23,982 | -€2,044 | -7.9% |
| Total equity and liabilities | 10/49 | €271,228 | €286,883 | +€15,656 | +5.8% |
| Equity | 10/15 | €173,089 | €197,711 | +€24,622 | +14.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | - | -€75,000 | |
| Issued capital | 100 | €75,000 | - | -€75,000 | |
| Revaluation surpluses | 12 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €7,437 | €23,554 | +€16,117 | +216.7% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | - | -€7,437 | |
| Reserves not available under the articles | 1311 | - | €7,437 | +€7,437 | |
| Distributable reserves | 133 | - | €16,117 | +€16,117 | |
| Profit (loss) carried forward | 14 | -€8,505 | €0 | +€8,505 | |
| Amounts payable | 17/49 | €98,138 | €89,172 | -€8,966 | -9.1% |
| Amounts payable after more than one year | 17 | €52,692 | €42,156 | -€10,535 | -20.0% |
| Financial debts | 170/4 | €52,692 | €42,156 | -€10,535 | -20.0% |
| Amounts payable within one year | 42/48 | €45,447 | €47,016 | +€1,569 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €10,045 | €10,535 | +€490 | +4.9% |
| Trade debts | 44 | €9,203 | €6,593 | -€2,610 | -28.4% |
| Suppliers | 440/4 | €9,203 | €6,593 | -€2,610 | -28.4% |
| Taxes, remuneration and social security | 45 | €9,148 | €15,679 | +€6,531 | +71.4% |
| Taxes | 450/3 | €9,148 | €15,679 | +€6,531 | +71.4% |
| Other amounts payable | 47/48 | €17,051 | €14,209 | -€2,842 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,923 | €6,714 | -€209 | -3.0% |
| Other operating charges | 640/8 | €11,120 | €11,591 | +€472 | +4.2% |
| Gross operating margin | 9900 | €33,391 | €57,078 | +€23,687 | +70.9% |
| Operating profit (loss) | 9901 | €15,349 | €38,772 | +€23,424 | +152.6% |
| Financial income | 75/76B | €5,274 | €3,481 | -€1,793 | -34.0% |
| Recurring financial income | 75 | €5,274 | €3,481 | -€1,793 | -34.0% |
| Financial charges | 65/66B | €7,363 | €4,689 | -€2,674 | -36.3% |
| Recurring financial charges | 65 | €6,263 | €4,689 | -€1,574 | -25.1% |
| Non-recurring financial charges | 66B | €1,100 | - | -€1,100 | |
| Profit (loss) for the period before taxes | 9903 | €13,260 | €37,564 | +€24,304 | +183.3% |
| Income taxes | 67/77 | €5,213 | €12,943 | +€7,730 | +148.3% |
| Profit (loss) for the period | 9904 | €8,047 | €24,622 | +€16,575 | +206.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,047 | €24,622 | +€16,575 | +206.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.