POLY TRADE: 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 TRADE
Largest movements
- Cash +€67,407
up €67,407 (+64.1%), from €105,211 to €172,618
mainly Depreciation (+€75,404) and Receivables within one year (+€34,773)
- Tangible fixed assets -€62,959
down €62,959 (-5.6%), from €1.1m to €1.1m
of which Land and buildings: -€57,049
- Receivables within one year -€34,773
down €34,773 (-73.2%), from €47,495 to €12,722
of which Trade receivables: -€34,773
- Reserves -€22,743
down €22,743 (-2.2%), from €1.0m to €995,345
of which Tax-exempt reserves: -€22,743
- Profit (loss) carried forward -€15,012
down €15,012 (-14.8%), from -€101,704 to -€116,716
- Debts after one year -€14,807
down €14,807 (-13.8%), from €106,948 to €92,142
of which Financial debts: -€14,807
- Write-downs +€44,120
new in 2025: €44,120
- Gross operating margin -€19,110
down €19,110 (-16.6%), from €115,160 to €96,049
- Depreciation -€13,222
down €13,222 (-14.9%), from €88,626 to €75,404
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 | €1,478,316 | €1,445,910 | -€32,406 | -2.2% |
| Fixed assets | 21/28 | €1,137,694 | €1,074,734 | -€62,959 | -5.5% |
| Tangible fixed assets | 22/27 | €1,131,364 | €1,068,404 | -€62,959 | -5.6% |
| Land and buildings | 22 | €1,017,525 | €960,476 | -€57,049 | -5.6% |
| Plant, machinery and equipment | 23 | €113,838 | €107,928 | -€5,910 | -5.2% |
| Financial fixed assets | 28 | €6,330 | €6,330 | = | 0.0% |
| Current assets | 29/58 | €340,622 | €371,176 | +€30,554 | +9.0% |
| Amounts receivable within one year | 40/41 | €47,495 | €12,722 | -€34,773 | -73.2% |
| Trade receivables | 40 | €40,746 | €5,973 | -€34,773 | -85.3% |
| Other amounts receivable | 41 | €6,749 | €6,749 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €105,211 | €172,618 | +€67,407 | +64.1% |
| Deferred charges and accrued income | 490/1 | €187,916 | €185,836 | -€2,080 | -1.1% |
| Total equity and liabilities | 10/49 | €1,478,316 | €1,445,910 | -€32,406 | -2.2% |
| Equity | 10/15 | €1,036,411 | €998,655 | -€37,755 | -3.6% |
| Contributions | 10/11 | €120,026 | €120,026 | = | 0.0% |
| Reserves | 13 | €1,018,088 | €995,345 | -€22,743 | -2.2% |
| Tax-exempt reserves | 132 | €116,639 | €93,896 | -€22,743 | -19.5% |
| Distributable reserves | 133 | €901,449 | €901,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,704 | -€116,716 | -€15,012 | -14.8% |
| Provisions and deferred taxes | 16 | €24,803 | €18,974 | -€5,829 | -23.5% |
| Deferred taxes | 168 | €24,803 | €18,974 | -€5,829 | -23.5% |
| Amounts payable | 17/49 | €417,102 | €428,281 | +€11,178 | +2.7% |
| Amounts payable after more than one year | 17 | €106,948 | €92,142 | -€14,807 | -13.8% |
| Financial debts | 170/4 | €97,528 | €82,722 | -€14,807 | -15.2% |
| Other amounts payable | 178/9 | €9,420 | €9,420 | = | 0.0% |
| Amounts payable within one year | 42/48 | €305,674 | €331,649 | +€25,974 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €14,592 | €14,807 | +€214 | +1.5% |
| Trade debts | 44 | €4,191 | €14,338 | +€10,146 | +242.1% |
| Suppliers | 440/4 | €4,191 | €14,338 | +€10,146 | +242.1% |
| Taxes, remuneration and social security | 45 | €1,148 | €3,189 | +€2,040 | +177.7% |
| Taxes | 450/3 | €1,148 | €3,189 | +€2,040 | +177.7% |
| Other amounts payable | 47/48 | €285,742 | €299,315 | +€13,573 | +4.8% |
| Accrued charges and deferred income | 492/3 | €4,479 | €4,490 | +€11 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,626 | €75,404 | -€13,222 | -14.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €44,120 | +€44,120 | |
| Other operating charges | 640/8 | €12,470 | €12,760 | +€290 | +2.3% |
| Gross operating margin | 9900 | €115,160 | €96,049 | -€19,110 | -16.6% |
| Operating profit (loss) | 9901 | €14,063 | -€36,235 | -€50,298 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €6,284 | €7,349 | +€1,066 | +17.0% |
| Recurring financial charges | 65 | €6,284 | €7,349 | +€1,066 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €7,780 | -€43,584 | -€51,365 | |
| Transfer from deferred taxes | 780 | €5,829 | €5,829 | = | 0.0% |
| Profit (loss) for the period | 9904 | €13,609 | -€37,755 | -€51,365 | |
| Transfer from tax-exempt reserves | 789 | €22,743 | €22,743 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,352 | -€15,012 | -€51,365 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.