POLYBAT: 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.
POLYBAT
Largest movements
- Receivables within one year -€92,462
down €92,462 (-95.8%), from €96,523 to €4,062
- Tangible fixed assets -€28,531
down €28,531 (-3.2%), from €904,143 to €875,611
of which Land and buildings: -€25,346
- Trade debts -€61,365
down €61,365 (-77.1%), from €79,640 to €18,275
- Profit (loss) carried forward -€59,206
down €59,206 (-82.2%), from -€72,041 to -€131,246
- Other debts +€27,649
up €27,649 (+6.4%), from €432,474 to €460,123
- Current portion of long-term debt -€27,603
down €27,603 (-51.2%), from €53,960 to €26,357
- Debts after one year -€26,357
down €26,357 (-6.3%), from €415,785 to €389,428
of which Financial debts: -€26,357
- Gross operating margin -€36,663
down €36,663, from €20,558 to -€16,105
- Other operating charges +€1,231
up €1,231 (+2123.2%), from €58 to €1,289
- Depreciation +€1,046
up €1,046 (+3.8%), from €27,485 to €28,531
- Financial charges +€436
up €436 (+3.4%), from €12,851 to €13,287
- Financial income -€208
down €208 (-96.8%), from €215 to €7
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 | €1,008,445 | €884,693 | -€123,752 | -12.3% |
| Fixed assets | 21/28 | €904,143 | €875,611 | -€28,531 | -3.2% |
| Tangible fixed assets | 22/27 | €904,143 | €875,611 | -€28,531 | -3.2% |
| Land and buildings | 22 | €897,165 | €871,819 | -€25,346 | -2.8% |
| Plant, machinery and equipment | 23 | €969 | €330 | -€639 | -66.0% |
| Furniture and vehicles | 24 | €6,009 | €3,462 | -€2,547 | -42.4% |
| Current assets | 29/58 | €104,302 | €9,082 | -€95,220 | -91.3% |
| Amounts receivable within one year | 40/41 | €96,523 | €4,062 | -€92,462 | -95.8% |
| Trade receivables | 40 | €96,523 | €4,062 | -€92,462 | -95.8% |
| Cash at bank and in hand | 54/58 | €2,792 | €2,112 | -€680 | -24.4% |
| Deferred charges and accrued income | 490/1 | €4,988 | €2,909 | -€2,079 | -41.7% |
| Total equity and liabilities | 10/49 | €1,008,445 | €884,693 | -€123,752 | -12.3% |
| Equity | 10/15 | €16,329 | -€42,876 | -€59,206 | |
| Reserves | 13 | €88,370 | €88,370 | = | 0.0% |
| Distributable reserves | 133 | €88,370 | €88,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,041 | -€131,246 | -€59,206 | -82.2% |
| Amounts payable | 17/49 | €992,116 | €927,569 | -€64,546 | -6.5% |
| Amounts payable after more than one year | 17 | €415,785 | €389,428 | -€26,357 | -6.3% |
| Financial debts | 170/4 | €414,585 | €388,228 | -€26,357 | -6.4% |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €574,930 | €534,405 | -€40,525 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €53,960 | €26,357 | -€27,603 | -51.2% |
| Financial debts | 43 | - | €22,001 | +€22,001 | |
| Credit institutions | 430/8 | - | €22,001 | +€22,001 | |
| Trade debts | 44 | €79,640 | €18,275 | -€61,365 | -77.1% |
| Suppliers | 440/4 | €79,640 | €18,275 | -€61,365 | -77.1% |
| Advances received on contracts in progress | 46 | - | €2,456 | +€2,456 | |
| Taxes, remuneration and social security | 45 | €8,855 | €5,192 | -€3,664 | -41.4% |
| Taxes | 450/3 | €8,855 | €5,192 | -€3,664 | -41.4% |
| Other amounts payable | 47/48 | €432,474 | €460,123 | +€27,649 | +6.4% |
| Accrued charges and deferred income | 492/3 | €1,400 | €3,737 | +€2,337 | +166.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,485 | €28,531 | +€1,046 | +3.8% |
| Other operating charges | 640/8 | €58 | €1,289 | +€1,231 | +2123.2% |
| Gross operating margin | 9900 | €20,558 | -€16,105 | -€36,663 | |
| Operating profit (loss) | 9901 | -€6,985 | -€45,926 | -€38,941 | -557.5% |
| Financial income | 75/76B | €215 | €7 | -€208 | -96.8% |
| Recurring financial income | 75 | €215 | €7 | -€208 | -96.8% |
| Financial charges | 65/66B | €12,851 | €13,287 | +€436 | +3.4% |
| Recurring financial charges | 65 | €12,851 | €13,287 | +€436 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,621 | -€59,206 | -€39,585 | -201.8% |
| Profit (loss) for the period | 9904 | -€19,621 | -€59,206 | -€39,585 | -201.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,621 | -€59,206 | -€39,585 | -201.8% |
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 9 October 2026 via checked.be.