Poly-Seal Holding: 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 Holding
Largest movements
- Financial fixed assets +€305,000
up €305,000 (+19.2%), from €1.6m to €1.9m
- Cash -€196,245
down €196,245 (-94.3%), from €208,028 to €11,782
mainly Investment in fixed assets (net) (-€306,264) and Receivables within one year (-€60,717)
- Receivables within one year +€60,717
up €60,717 (+186%), from €32,728 to €93,445
of which Other amounts receivable: +€54,667
- Reserves +€214,838
up €214,838 (+19.3%), from €1.1m to €1.3m
of which Distributable reserves: +€214,838
- Tax, wage and social debts -€37,584
down €37,584 (-65.1%), from €57,691 to €20,107
- Gross operating margin -€403,060
down €403,060 (-71.3%), from €565,176 to €162,116
- Taxes -€101,771
down €101,771 (-73.2%), from €138,958 to €37,188
- Financial income +€53,767
up €53,767 (+105%), from €51,233 to €105,000
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 | €1,829,865 | €2,003,052 | +€173,187 | +9.5% |
| Fixed assets | 21/28 | €1,589,109 | €1,895,223 | +€306,114 | +19.3% |
| Tangible fixed assets | 22/27 | - | €1,114 | +€1,114 | |
| Furniture and vehicles | 24 | - | €1,114 | +€1,114 | |
| Financial fixed assets | 28 | €1,589,109 | €1,894,109 | +€305,000 | +19.2% |
| Current assets | 29/58 | €240,756 | €107,830 | -€132,926 | -55.2% |
| Amounts receivable within one year | 40/41 | €32,728 | €93,445 | +€60,717 | +186% |
| Trade receivables | 40 | €32,065 | €38,115 | +€6,050 | +18.9% |
| Other amounts receivable | 41 | €663 | €55,330 | +€54,667 | +8,240% |
| Cash at bank and in hand | 54/58 | €208,028 | €11,782 | -€196,245 | -94.3% |
| Deferred charges and accrued income | 490/1 | - | €2,602 | +€2,602 | |
| Total equity and liabilities | 10/49 | €1,829,865 | €2,003,052 | +€173,187 | +9.5% |
| Equity | 10/15 | €1,311,699 | €1,526,537 | +€214,838 | +16.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,111,699 | €1,326,537 | +€214,838 | +19.3% |
| Tax-exempt reserves | 132 | €130,510 | €130,510 | = | 0.0% |
| Distributable reserves | 133 | €981,189 | €1,196,027 | +€214,838 | +21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €518,166 | €476,515 | -€41,651 | -8.0% |
| Amounts payable after more than one year | 17 | €298,571 | €307,857 | +€9,286 | +3.1% |
| Financial debts | 170/4 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts payable | 178/9 | €98,571 | €207,857 | +€109,286 | +111% |
| Amounts payable within one year | 42/48 | €218,848 | €168,160 | -€50,687 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €125,714 | €125,714 | = | 0.0% |
| Trade debts | 44 | €19,799 | €22,138 | +€2,340 | +11.8% |
| Suppliers | 440/4 | €19,799 | €22,138 | +€2,340 | +11.8% |
| Taxes, remuneration and social security | 45 | €57,691 | €20,107 | -€37,584 | -65.1% |
| Taxes | 450/3 | €57,691 | €20,107 | -€37,584 | -65.1% |
| Other amounts payable | 47/48 | €15,644 | €201 | -€15,443 | -98.7% |
| Accrued charges and deferred income | 492/3 | €747 | €498 | -€249 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €150 | +€150 | |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | €565,176 | €162,116 | -€403,060 | -71.3% |
| Operating profit (loss) | 9901 | €564,083 | €160,839 | -€403,243 | -71.5% |
| Financial income | 75/76B | €51,233 | €105,000 | +€53,767 | +105% |
| Recurring financial income | 75 | €51,233 | €105,000 | +€53,767 | +105% |
| Financial charges | 65/66B | €10,675 | €13,814 | +€3,139 | +29.4% |
| Recurring financial charges | 65 | €10,675 | €13,814 | +€3,139 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €604,641 | €252,025 | -€352,616 | -58.3% |
| Income taxes | 67/77 | €138,958 | €37,188 | -€101,771 | -73.2% |
| Profit (loss) for the period | 9904 | €465,683 | €214,838 | -€250,845 | -53.9% |
| Transfer to tax-exempt reserves | 689 | €130,510 | €0 | -€130,510 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €335,173 | €214,838 | -€120,335 | -35.9% |
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 28 October 2026 via checked.be.