POLY-SEAL: 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-SEAL
Largest movements
- Deferred charges and accrued income +€226,888
up €226,888 (+3591.5%), from €6,317 to €233,206
- Tangible fixed assets +€132,864
up €132,864 (+21.9%), from €606,749 to €739,614
of which Plant, machinery and equipment: +€110,469
- Stocks and contracts +€105,008
up €105,008 (+85.2%), from €123,314 to €228,322
of which Stocks: +€100,877
- Cash +€74,943
up €74,943 (+14.2%), from €526,566 to €601,508
mainly Accrued charges and deferred income (+€466,667) and Debts after one year (+€148,909)
- Accrued charges and deferred income +€466,667
new in 2025: €466,667
- Debts after one year +€148,909
up €148,909 (+118.1%), from €126,094 to €275,004
- Trade debts -€77,318
down €77,318 (-8.4%), from €923,495 to €846,177
- Reserves -€74,391
down €74,391 (-28.0%), from €265,400 to €191,009
of which Distributable reserves: -€74,391
- Other debts +€56,000
up €56,000 (+111.4%), from €50,291 to €106,290
- Gross operating margin -€160,146
down €160,146 (-18.0%), from €887,709 to €727,564
- Taxes -€54,314
down €54,314 (-82.1%), from €66,135 to €11,821
- Depreciation +€40,068
up €40,068 (+93.1%), from €43,057 to €83,125
- Financial income -€10,000
down €10,000 (-80.7%), from €12,386 to €2,386
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 | €1,924,708 | €2,439,240 | +€514,532 | +26.7% |
| Fixed assets | 21/28 | €611,458 | €741,623 | +€130,164 | +21.3% |
| Intangible fixed assets | 21 | €4,209 | €1,509 | -€2,700 | -64.1% |
| Tangible fixed assets | 22/27 | €606,749 | €739,614 | +€132,864 | +21.9% |
| Land and buildings | 22 | €474,984 | €466,602 | -€8,383 | -1.8% |
| Plant, machinery and equipment | 23 | €126,574 | €237,043 | +€110,469 | +87.3% |
| Furniture and vehicles | 24 | €5,190 | €35,969 | +€30,779 | +593.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,313,250 | €1,697,617 | +€384,367 | +29.3% |
| Stocks and contracts in progress | 3 | €123,314 | €228,322 | +€105,008 | +85.2% |
| Stocks | 30/36 | €87,382 | €188,259 | +€100,877 | +115.4% |
| Contracts in progress | 37 | €35,932 | €40,063 | +€4,131 | +11.5% |
| Amounts receivable within one year | 40/41 | €657,053 | €634,581 | -€22,472 | -3.4% |
| Trade receivables | 40 | €646,754 | €624,024 | -€22,730 | -3.5% |
| Other amounts receivable | 41 | €10,299 | €10,557 | +€258 | +2.5% |
| Cash at bank and in hand | 54/58 | €526,566 | €601,508 | +€74,943 | +14.2% |
| Deferred charges and accrued income | 490/1 | €6,317 | €233,206 | +€226,888 | +3591.5% |
| Total equity and liabilities | 10/49 | €1,924,708 | €2,439,240 | +€514,532 | +26.7% |
| Equity | 10/15 | €685,071 | €610,680 | -€74,391 | -10.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €357,672 | €357,672 | = | 0.0% |
| Reserves | 13 | €265,400 | €191,009 | -€74,391 | -28.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,983 | €1,983 | = | 0.0% |
| Distributable reserves | 133 | €257,217 | €182,825 | -€74,391 | -28.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,239,636 | €1,828,560 | +€588,923 | +47.5% |
| Amounts payable after more than one year | 17 | €126,094 | €275,004 | +€148,909 | +118.1% |
| Financial debts | 170/4 | €126,094 | €275,004 | +€148,909 | +118.1% |
| Amounts payable within one year | 42/48 | €1,113,542 | €1,086,889 | -€26,653 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €36,467 | €41,153 | +€4,686 | +12.9% |
| Trade debts | 44 | €923,495 | €846,177 | -€77,318 | -8.4% |
| Suppliers | 440/4 | €923,495 | €846,177 | -€77,318 | -8.4% |
| Taxes, remuneration and social security | 45 | €103,289 | €93,268 | -€10,021 | -9.7% |
| Taxes | 450/3 | €7,692 | €4,819 | -€2,873 | -37.4% |
| Remuneration and social security | 454/9 | €95,597 | €88,449 | -€7,148 | -7.5% |
| Other amounts payable | 47/48 | €50,291 | €106,290 | +€56,000 | +111.4% |
| Accrued charges and deferred income | 492/3 | - | €466,667 | +€466,667 | |
| Remuneration, social security and pensions | 62 | €580,997 | €580,011 | -€985 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,057 | €83,125 | +€40,068 | +93.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,219 | €0 | -€2,219 | -100.0% |
| Other operating charges | 640/8 | €10,118 | €8,906 | -€1,212 | -12.0% |
| Gross operating margin | 9900 | €887,709 | €727,564 | -€160,146 | -18.0% |
| Operating profit (loss) | 9901 | €251,318 | €55,522 | -€195,797 | -77.9% |
| Financial income | 75/76B | €12,386 | €2,386 | -€10,000 | -80.7% |
| Recurring financial income | 75 | €12,386 | €2,386 | -€10,000 | -80.7% |
| Financial charges | 65/66B | €13,289 | €15,477 | +€2,188 | +16.5% |
| Recurring financial charges | 65 | €13,289 | €15,477 | +€2,188 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €250,415 | €42,430 | -€207,985 | -83.1% |
| Income taxes | 67/77 | €66,135 | €11,821 | -€54,314 | -82.1% |
| Profit (loss) for the period | 9904 | €184,280 | €30,609 | -€153,671 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €184,280 | €30,609 | -€153,671 | -83.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.