POLY PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets +€42,050
up €42,050 (+467%), from €8,996 to €51,046
- Receivables within one year -€6,186
down €6,186 (-34.1%), from €18,150 to €11,963
of which Trade receivables: -€7,507
- Stocks and contracts -€1,500
no longer reported in 2025 (was €1,500)
- Cash +€1,312
up €1,312 (+9.3%), from €14,126 to €15,438
mainly Debts after one year (+€23,123) and Net result for the year (+€6,763)
- Debts after one year +€23,123
up €23,123 (+1,502%), from €1,539 to €24,662
- Reserves +€6,500
up €6,500 (+133%), from €4,888 to €11,388
of which Distributable reserves: +€8,360
- Trade debts +€4,565
up €4,565 (+945%), from €483 to €5,048
- Gross operating margin -€6,711
down €6,711 (-33.6%), from €19,985 to €13,274
- Depreciation -€6,166
down €6,166 (-86.4%), from €7,138 to €972
- Other operating charges -€1,762
down €1,762 (-56.1%), from €3,142 to €1,380
- Taxes -€584
down €584 (-12.9%), from €4,537 to €3,952
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 | €47,119 | €82,847 | +€35,729 | +75.8% |
| Fixed assets | 21/28 | €12,313 | €54,363 | +€42,050 | +341% |
| Tangible fixed assets | 22/27 | €8,996 | €51,046 | +€42,050 | +467% |
| Furniture and vehicles | 24 | €8,996 | €51,046 | +€42,050 | +467% |
| Financial fixed assets | 28 | €3,317 | €3,317 | = | 0.0% |
| Current assets | 29/58 | €34,806 | €28,485 | -€6,321 | -18.2% |
| Stocks and contracts in progress | 3 | €1,500 | - | -€1,500 | |
| Stocks | 30/36 | €1,500 | - | -€1,500 | |
| Amounts receivable within one year | 40/41 | €18,150 | €11,963 | -€6,186 | -34.1% |
| Trade receivables | 40 | €9,978 | €2,472 | -€7,507 | -75.2% |
| Other amounts receivable | 41 | €8,171 | €9,492 | +€1,321 | +16.2% |
| Cash at bank and in hand | 54/58 | €14,126 | €15,438 | +€1,312 | +9.3% |
| Deferred charges and accrued income | 490/1 | €1,030 | €1,083 | +€54 | +5.2% |
| Total equity and liabilities | 10/49 | €47,119 | €82,847 | +€35,729 | +75.8% |
| Equity | 10/15 | €27,445 | €34,208 | +€6,763 | +24.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,888 | €11,388 | +€6,500 | +133% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €3,028 | €11,388 | +€8,360 | +276% |
| Profit (loss) carried forward | 14 | €16,357 | €16,620 | +€263 | +1.6% |
| Amounts payable | 17/49 | €19,674 | €48,639 | +€28,966 | +147% |
| Amounts payable after more than one year | 17 | €1,539 | €24,662 | +€23,123 | +1,502% |
| Financial debts | 170/4 | €1,539 | €24,662 | +€23,123 | +1,502% |
| Amounts payable within one year | 42/48 | €18,134 | €23,977 | +€5,843 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €6,115 | €6,877 | +€762 | +12.5% |
| Trade debts | 44 | €483 | €5,048 | +€4,565 | +945% |
| Suppliers | 440/4 | €483 | €5,048 | +€4,565 | +945% |
| Taxes, remuneration and social security | 45 | €11,536 | €12,051 | +€516 | +4.5% |
| Taxes | 450/3 | €9,288 | €9,789 | +€500 | +5.4% |
| Remuneration and social security | 454/9 | €2,247 | €2,263 | +€15 | +0.7% |
| Non-recurring operating income | 76A | - | €534 | +€534 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,138 | €972 | -€6,166 | -86.4% |
| Other operating charges | 640/8 | €3,142 | €1,380 | -€1,762 | -56.1% |
| Gross operating margin | 9900 | €19,985 | €13,274 | -€6,711 | -33.6% |
| Operating profit (loss) | 9901 | €9,705 | €10,922 | +€1,217 | +12.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | +19,900% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +19,900% |
| Financial charges | 65/66B | €274 | €208 | -€66 | -24.1% |
| Recurring financial charges | 65 | €274 | €208 | -€66 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €9,430 | €10,715 | +€1,285 | +13.6% |
| Income taxes | 67/77 | €4,537 | €3,952 | -€584 | -12.9% |
| Profit (loss) for the period | 9904 | €4,894 | €6,763 | +€1,869 | +38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,894 | €6,763 | +€1,869 | +38.2% |
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 17 October 2026 via checked.be.