POLY - TECH ENGINEERING: 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.
What changed
POLY - TECH ENGINEERING
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,422
2024 · €23,646-€6,224
Equity
€386,856
2024 · €369,434+€17,422
Cash
€100,853
2024 · €93,190+€7,663
Balance sheet total
€2.2m
2024 · €1.9m+€330,415
Largest movements
Assets
- Stocks and contracts +€273,038
up €273,038 (+37.5%), from €728,439 to €1.0m
- Receivables within one year +€124,747
up €124,747 (+15.9%), from €783,552 to €908,300
of which Trade receivables: +€127,923
- Intangible fixed assets -€67,198
down €67,198 (-39.8%), from €168,924 to €101,727
- Tangible fixed assets -€23,938
down €23,938 (-49.2%), from €48,622 to €24,684
of which Leasing and similar rights: -€19,243
Equity and liabilities
- Short-term financial debts +€156,498
up €156,498 (+18.6%), from €841,850 to €998,348
- Trade debts +€107,603
up €107,603 (+65.0%), from €165,639 to €273,242
- Tax, wage and social debts +€46,100
up €46,100 (+40.6%), from €113,504 to €159,604
of which Taxes: +€50,765
- Current portion of long-term debt -€25,113
down €25,113 (-14.3%), from €175,655 to €150,542
Income statement
- Gross operating margin -€15,551
down €15,551 (-1.5%), from €1.1m to €1.0m
- Financial charges -€15,474
down €15,474 (-17.7%), from €87,386 to €71,912
of which Financial charges: -€8,528
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.
Result 2024
€23,646
Gross operating margin
-€15,551
Staff costs
-€181
Depreciation
-€4,937
Other operating charges
+€852
Financial income
-€206
Financial charges
+€15,474
Taxes
-€1,676
Result 2025
€17,422
raises the resultlowers the result
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.
From operations
-€110,584
Investment
-€12,596
Financing
+€130,843
Cash 2024
€93,190
From operations (derived)
-€110,584
Net result for the year
+€17,422
Depreciation
+€96,698
Stocks and contracts
-€273,038
Receivables within one year
-€124,747
Deferred charges and accrued income
-€9,068
Trade debts
+€107,603
Tax, wage and social debts
+€46,100
Advances received
+€6,609
Other debts
+€15,038
Accrued charges and deferred income
+€6,800
Investment (derived)
-€12,596
Investment in fixed assets (net)
-€12,596
Financing
+€130,843
Debts after one year
-€542
Current portion of long-term debt
-€25,113
Short-term financial debts
+€156,498
Cash 2025
€100,853
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,877,486 | €2,207,901 | +€330,415 | +17.6% |
| Fixed assets | 21/28 | €267,585 | €183,483 | -€84,101 | -31.4% |
| Intangible fixed assets | 21 | €168,924 | €101,727 | -€67,198 | -39.8% |
| Tangible fixed assets | 22/27 | €48,622 | €24,684 | -€23,938 | -49.2% |
| Plant, machinery and equipment | 23 | €167 | - | -€167 | |
| Furniture and vehicles | 24 | €9,738 | €5,210 | -€4,528 | -46.5% |
| Leasing and similar rights | 25 | €38,717 | €19,475 | -€19,243 | -49.7% |
| Financial fixed assets | 28 | €50,038 | €57,072 | +€7,034 | +14.1% |
| Current assets | 29/58 | €1,609,902 | €2,024,418 | +€414,516 | +25.7% |
| Stocks and contracts in progress | 3 | €728,439 | €1,001,477 | +€273,038 | +37.5% |
| Contracts in progress | 37 | €728,439 | €1,001,477 | +€273,038 | +37.5% |
| Amounts receivable within one year | 40/41 | €783,552 | €908,300 | +€124,747 | +15.9% |
| Trade receivables | 40 | €751,252 | €879,176 | +€127,923 | +17.0% |
| Other amounts receivable | 41 | €32,300 | €29,124 | -€3,176 | -9.8% |
| Cash at bank and in hand | 54/58 | €93,190 | €100,853 | +€7,663 | +8.2% |
| Deferred charges and accrued income | 490/1 | €4,721 | €13,788 | +€9,068 | +192% |
| Total equity and liabilities | 10/49 | €1,877,486 | €2,207,901 | +€330,415 | +17.6% |
| Equity | 10/15 | €369,434 | €386,856 | +€17,422 | +4.7% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €191,234 | €208,656 | +€17,422 | +9.1% |
| Amounts payable | 17/49 | €1,508,052 | €1,821,045 | +€312,993 | +20.8% |
| Amounts payable after more than one year | 17 | €185,305 | €184,763 | -€542 | -0.3% |
| Financial debts | 170/4 | €185,305 | €184,763 | -€542 | -0.3% |
| Amounts payable within one year | 42/48 | €1,321,934 | €1,628,669 | +€306,735 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €175,655 | €150,542 | -€25,113 | -14.3% |
| Financial debts | 43 | €841,850 | €998,348 | +€156,498 | +18.6% |
| Credit institutions | 430/8 | €841,850 | €998,348 | +€156,498 | +18.6% |
| Trade debts | 44 | €165,639 | €273,242 | +€107,603 | +65.0% |
| Suppliers | 440/4 | €165,639 | €273,242 | +€107,603 | +65.0% |
| Advances received on contracts in progress | 46 | €2,098 | €8,706 | +€6,609 | +315% |
| Taxes, remuneration and social security | 45 | €113,504 | €159,604 | +€46,100 | +40.6% |
| Taxes | 450/3 | €21,374 | €72,139 | +€50,765 | +238% |
| Remuneration and social security | 454/9 | €92,130 | €87,465 | -€4,665 | -5.1% |
| Other amounts payable | 47/48 | €23,188 | €38,226 | +€15,038 | +64.9% |
| Accrued charges and deferred income | 492/3 | €814 | €7,614 | +€6,800 | +836% |
| Remuneration, social security and pensions | 62 | €820,072 | €820,253 | +€181 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,761 | €96,698 | +€4,937 | +5.4% |
| Other operating charges | 640/8 | €14,216 | €13,364 | -€852 | -6.0% |
| Gross operating margin | 9900 | €1,063,800 | €1,048,249 | -€15,551 | -1.5% |
| Operating profit (loss) | 9901 | €137,751 | €117,934 | -€19,817 | -14.4% |
| Financial income | 75/76B | €283 | €78 | -€206 | -72.6% |
| Recurring financial income | 75 | €283 | €78 | -€206 | -72.6% |
| Financial charges | 65/66B | €87,386 | €71,912 | -€15,474 | -17.7% |
| Recurring financial charges | 65 | €80,440 | €71,912 | -€8,528 | -10.6% |
| Non-recurring financial charges | 66B | €6,946 | - | -€6,946 | |
| Profit (loss) for the period before taxes | 9903 | €50,648 | €46,100 | -€4,549 | -9.0% |
| Income taxes | 67/77 | €27,002 | €28,678 | +€1,676 | +6.2% |
| Profit (loss) for the period | 9904 | €23,646 | €17,422 | -€6,224 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,646 | €17,422 | -€6,224 | -26.3% |
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 22 October 2026 via checked.be.