POLY-CREATION: 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-CREATION
Largest movements
- Cash +€44,746
up €44,746 (+1808.2%), from €2,475 to €47,221
mainly Trade debts (+€55,780) and Short-term financial debts (+€50,789)
- Receivables within one year -€43,336
down €43,336 (-47.7%), from €90,864 to €47,528
of which Trade receivables: -€63,864
- Stocks and contracts +€24,095
up €24,095 (+39.2%), from €61,450 to €85,545
- Tangible fixed assets -€23,191
down €23,191 (-8.9%), from €260,887 to €237,696
of which Leasing and similar rights: -€25,786
- Trade debts +€55,780
up €55,780 (+106.1%), from €52,581 to €108,361
- Debts after one year -€51,058
down €51,058 (-21.3%), from €239,539 to €188,481
of which Financial debts: -€38,558
- Short-term financial debts +€50,789
up €50,789 (+81.8%), from €62,124 to €112,913
- Profit (loss) carried forward -€29,424
down €29,424 (-71.1%), from -€41,377 to -€70,801
- Tax, wage and social debts -€22,998
down €22,998 (-45.0%), from €51,160 to €28,162
of which Taxes: -€26,748
- Gross operating margin +€43,184
up €43,184 (+33.5%), from €128,801 to €171,985
- Staff costs +€31,545
up €31,545 (+29.1%), from €108,519 to €140,064
- Depreciation +€9,581
up €9,581 (+36.8%), from €26,068 to €35,649
- Financial charges +€4,225
up €4,225 (+32.5%), from €13,010 to €17,235
- Other operating charges +€2,095
up €2,095 (+33.9%), from €6,171 to €8,265
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €421,016 | €426,176 | +€5,160 | +1.2% |
| Fixed assets | 21/28 | €260,887 | €237,696 | -€23,191 | -8.9% |
| Tangible fixed assets | 22/27 | €260,887 | €237,696 | -€23,191 | -8.9% |
| Plant, machinery and equipment | 23 | €24,526 | €30,670 | +€6,144 | +25.1% |
| Furniture and vehicles | 24 | €1,680 | €446 | -€1,235 | -73.5% |
| Leasing and similar rights | 25 | €217,605 | €191,820 | -€25,786 | -11.8% |
| Other tangible fixed assets | 26 | €17,075 | €14,760 | -€2,315 | -13.6% |
| Current assets | 29/58 | €160,129 | €188,481 | +€28,351 | +17.7% |
| Stocks and contracts in progress | 3 | €61,450 | €85,545 | +€24,095 | +39.2% |
| Stocks | 30/36 | €61,450 | €85,545 | +€24,095 | +39.2% |
| Amounts receivable within one year | 40/41 | €90,864 | €47,528 | -€43,336 | -47.7% |
| Trade receivables | 40 | €86,210 | €22,346 | -€63,864 | -74.1% |
| Other amounts receivable | 41 | €4,655 | €25,183 | +€20,528 | +441.0% |
| Cash at bank and in hand | 54/58 | €2,475 | €47,221 | +€44,746 | +1808.2% |
| Deferred charges and accrued income | 490/1 | €5,340 | €8,186 | +€2,846 | +53.3% |
| Total equity and liabilities | 10/49 | €421,016 | €426,176 | +€5,160 | +1.2% |
| Equity | 10/15 | -€22,777 | -€52,201 | -€29,424 | -129.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,377 | -€70,801 | -€29,424 | -71.1% |
| Amounts payable | 17/49 | €443,793 | €478,377 | +€34,584 | +7.8% |
| Amounts payable after more than one year | 17 | €239,539 | €188,481 | -€51,058 | -21.3% |
| Financial debts | 170/4 | €189,539 | €150,981 | -€38,558 | -20.3% |
| Other amounts payable | 178/9 | €50,000 | €37,500 | -€12,500 | -25.0% |
| Amounts payable within one year | 42/48 | €204,254 | €289,896 | +€85,642 | +41.9% |
| Current portion of amounts payable after more than one year | 42 | €36,813 | €38,558 | +€1,745 | +4.7% |
| Financial debts | 43 | €62,124 | €112,913 | +€50,789 | +81.8% |
| Credit institutions | 430/8 | €62,124 | €112,913 | +€50,789 | +81.8% |
| Trade debts | 44 | €52,581 | €108,361 | +€55,780 | +106.1% |
| Suppliers | 440/4 | €52,581 | €108,361 | +€55,780 | +106.1% |
| Taxes, remuneration and social security | 45 | €51,160 | €28,162 | -€22,998 | -45.0% |
| Taxes | 450/3 | €28,975 | €2,228 | -€26,748 | -92.3% |
| Remuneration and social security | 454/9 | €22,184 | €25,934 | +€3,750 | +16.9% |
| Other amounts payable | 47/48 | €1,576 | €1,902 | +€325 | +20.6% |
| Remuneration, social security and pensions | 62 | €108,519 | €140,064 | +€31,545 | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,068 | €35,649 | +€9,581 | +36.8% |
| Other operating charges | 640/8 | €6,171 | €8,265 | +€2,095 | +33.9% |
| Gross operating margin | 9900 | €128,801 | €171,985 | +€43,184 | +33.5% |
| Operating profit (loss) | 9901 | -€11,958 | -€11,994 | -€36 | -0.3% |
| Financial charges | 65/66B | €13,010 | €17,235 | +€4,225 | +32.5% |
| Recurring financial charges | 65 | €13,010 | €17,235 | +€4,225 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | -€24,968 | -€29,228 | -€4,261 | -17.1% |
| Income taxes | 67/77 | €158 | €196 | +€38 | +23.8% |
| Profit (loss) for the period | 9904 | -€25,126 | -€29,424 | -€4,298 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,126 | -€29,424 | -€4,298 | -17.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.