POLY3: 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.
POLY3
Largest movements
- Financial fixed assets -€69,500
down €69,500 (-7.0%), from €1.0m to €930,500
- Receivables after one year +€57,022
up €57,022 (+102%), from €55,924 to €112,946
- Cash -€37,455
down €37,455 (-60.5%), from €61,870 to €24,415
mainly Debts after one year (-€89,181) and Receivables after one year (-€57,022)
- Current investments -€15,000
down €15,000 (-30.0%), from €50,000 to €35,000
- Debts after one year -€89,181
down €89,181 (-23.2%), from €384,175 to €294,994
of which Other amounts payable: -€69,500
- Reserves +€29,259
up €29,259 (+3.0%), from €968,284 to €997,543
- Gross operating margin +€17,800
up €17,800 (+32.6%), from €54,526 to €72,326
- Depreciation -€9,951
down €9,951 (-38.8%), from €25,616 to €15,665
- Taxes +€8,380
up €8,380 (+208%), from €4,036 to €12,416
- Financial charges +€7,007
up €7,007 (+67.3%), from €10,412 to €17,419
- Financial income +€1,311
up €1,311 (+37.2%), from €3,525 to €4,836
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 | €1,479,544 | €1,413,176 | -€66,367 | -4.5% |
| Fixed assets | 21/28 | €1,306,219 | €1,225,693 | -€80,526 | -6.2% |
| Tangible fixed assets | 22/27 | €306,219 | €295,193 | -€11,026 | -3.6% |
| Land and buildings | 22 | €240,614 | €235,864 | -€4,751 | -2.0% |
| Plant, machinery and equipment | 23 | €2,097 | €1,620 | -€477 | -22.7% |
| Furniture and vehicles | 24 | €10,631 | €2,893 | -€7,738 | -72.8% |
| Other tangible fixed assets | 26 | €52,876 | €54,816 | +€1,940 | +3.7% |
| Financial fixed assets | 28 | €1,000,000 | €930,500 | -€69,500 | -7.0% |
| Current assets | 29/58 | €173,324 | €187,483 | +€14,159 | +8.2% |
| Amounts receivable after more than one year | 29 | €55,924 | €112,946 | +€57,022 | +102% |
| Other amounts receivable | 291 | €55,924 | €112,946 | +€57,022 | +102% |
| Amounts receivable within one year | 40/41 | €3,754 | €13,262 | +€9,508 | +253% |
| Trade receivables | 40 | €1,104 | €10,356 | +€9,251 | +838% |
| Other amounts receivable | 41 | €2,650 | €2,907 | +€257 | +9.7% |
| Current investments | 50/53 | €50,000 | €35,000 | -€15,000 | -30.0% |
| Cash at bank and in hand | 54/58 | €61,870 | €24,415 | -€37,455 | -60.5% |
| Deferred charges and accrued income | 490/1 | €1,776 | €1,859 | +€84 | +4.7% |
| Total equity and liabilities | 10/49 | €1,479,544 | €1,413,176 | -€66,367 | -4.5% |
| Equity | 10/15 | €998,284 | €1,027,543 | +€29,259 | +2.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €968,284 | €997,543 | +€29,259 | +3.0% |
| Distributable reserves | 133 | €968,284 | €997,543 | +€29,259 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €481,260 | €385,634 | -€95,626 | -19.9% |
| Amounts payable after more than one year | 17 | €384,175 | €294,994 | -€89,181 | -23.2% |
| Financial debts | 170/4 | €314,675 | €294,994 | -€19,681 | -6.3% |
| Other amounts payable | 178/9 | €69,500 | €0 | -€69,500 | -100% |
| Amounts payable within one year | 42/48 | €94,305 | €83,129 | -€11,176 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €64,904 | €60,612 | -€4,293 | -6.6% |
| Trade debts | 44 | €12,036 | €1,949 | -€10,088 | -83.8% |
| Suppliers | 440/4 | €12,036 | €1,949 | -€10,088 | -83.8% |
| Taxes, remuneration and social security | 45 | €8,166 | €20,568 | +€12,402 | +152% |
| Taxes | 450/3 | €8,166 | €20,568 | +€12,402 | +152% |
| Other amounts payable | 47/48 | €9,198 | €0 | -€9,198 | -100% |
| Accrued charges and deferred income | 492/3 | €2,780 | €7,511 | +€4,731 | +170% |
| Non-recurring operating income | 76A | - | €1,077 | +€1,077 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,616 | €15,665 | -€9,951 | -38.8% |
| Other operating charges | 640/8 | €2,108 | €2,403 | +€295 | +14.0% |
| Gross operating margin | 9900 | €54,526 | €72,326 | +€17,800 | +32.6% |
| Operating profit (loss) | 9901 | €26,802 | €54,259 | +€27,456 | +102% |
| Financial income | 75/76B | €3,525 | €4,836 | +€1,311 | +37.2% |
| Recurring financial income | 75 | €3,525 | €4,836 | +€1,311 | +37.2% |
| Financial charges | 65/66B | €10,412 | €17,419 | +€7,007 | +67.3% |
| Recurring financial charges | 65 | €10,412 | €17,419 | +€7,007 | +67.3% |
| Profit (loss) for the period before taxes | 9903 | €19,915 | €41,675 | +€21,761 | +109% |
| Income taxes | 67/77 | €4,036 | €12,416 | +€8,380 | +208% |
| Profit (loss) for the period | 9904 | €15,878 | €29,259 | +€13,381 | +84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,878 | €29,259 | +€13,381 | +84.3% |
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 30 October 2026 via checked.be.