POLYCAD: 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.
POLYCAD
Largest movements
- Tangible fixed assets +€50,205
up €50,205 (+547%), from €9,175 to €59,379
of which Furniture and vehicles: +€51,514
- Cash +€20,496
up €20,496 (+35.0%), from €58,586 to €79,081
mainly Debts after one year (+€29,872) and Net result for the year (+€28,237)
- Debts after one year +€29,872
new in 2025: €29,872
- Reserves +€28,237
up €28,237 (+33.4%), from €84,586 to €112,823
of which Distributable reserves: +€28,237
- Current portion of long-term debt +€7,631
new in 2025: €7,631
- Tax, wage and social debts +€5,468
up €5,468 (+48.1%), from €11,367 to €16,835
of which Remuneration and social security: +€6,000
- Gross operating margin +€16,433
up €16,433 (+51.8%), from €31,699 to €48,132
- Depreciation +€5,051
up €5,051 (+152%), from €3,315 to €8,366
- Taxes +€2,009
up €2,009 (+26.4%), from €7,610 to €9,619
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 | €105,814 | €178,184 | +€72,370 | +68.4% |
| Fixed assets | 21/28 | €9,175 | €59,379 | +€50,205 | +547% |
| Tangible fixed assets | 22/27 | €9,175 | €59,379 | +€50,205 | +547% |
| Land and buildings | 22 | €1,439 | €504 | -€935 | -65.0% |
| Plant, machinery and equipment | 23 | €2,250 | €1,875 | -€375 | -16.7% |
| Furniture and vehicles | 24 | €5,486 | €57,000 | +€51,514 | +939% |
| Current assets | 29/58 | €96,639 | €118,805 | +€22,166 | +22.9% |
| Amounts receivable within one year | 40/41 | €38,053 | €39,724 | +€1,670 | +4.4% |
| Trade receivables | 40 | €36,837 | €39,412 | +€2,575 | +7.0% |
| Other amounts receivable | 41 | €1,217 | €312 | -€905 | -74.4% |
| Cash at bank and in hand | 54/58 | €58,586 | €79,081 | +€20,496 | +35.0% |
| Total equity and liabilities | 10/49 | €105,814 | €178,184 | +€72,370 | +68.4% |
| Equity | 10/15 | €90,786 | €119,023 | +€28,237 | +31.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,586 | €112,823 | +€28,237 | +33.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €82,726 | €110,964 | +€28,237 | +34.1% |
| Amounts payable | 17/49 | €15,028 | €59,161 | +€44,133 | +294% |
| Amounts payable after more than one year | 17 | - | €29,872 | +€29,872 | |
| Financial debts | 170/4 | - | €29,872 | +€29,872 | |
| Amounts payable within one year | 42/48 | €15,028 | €29,289 | +€14,261 | +94.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,631 | +€7,631 | |
| Financial debts | 43 | €1,372 | €1,412 | +€41 | +3.0% |
| Credit institutions | 430/8 | €1,372 | €1,412 | +€41 | +3.0% |
| Trade debts | 44 | €1,787 | €2,744 | +€958 | +53.6% |
| Suppliers | 440/4 | €1,787 | €2,744 | +€958 | +53.6% |
| Taxes, remuneration and social security | 45 | €11,367 | €16,835 | +€5,468 | +48.1% |
| Taxes | 450/3 | €11,367 | €10,835 | -€533 | -4.7% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €502 | €666 | +€164 | +32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,315 | €8,366 | +€5,051 | +152% |
| Other operating charges | 640/8 | €1,249 | €1,159 | -€89 | -7.2% |
| Gross operating margin | 9900 | €31,699 | €48,132 | +€16,433 | +51.8% |
| Operating profit (loss) | 9901 | €27,135 | €38,607 | +€11,471 | +42.3% |
| Financial income | 75/76B | €191 | €240 | +€49 | +25.8% |
| Recurring financial income | 75 | €191 | €240 | +€49 | +25.8% |
| Financial charges | 65/66B | €587 | €991 | +€404 | +68.9% |
| Recurring financial charges | 65 | €587 | €991 | +€404 | +68.9% |
| Profit (loss) for the period before taxes | 9903 | €26,740 | €37,856 | +€11,116 | +41.6% |
| Income taxes | 67/77 | €7,610 | €9,619 | +€2,009 | +26.4% |
| Profit (loss) for the period | 9904 | €19,129 | €28,237 | +€9,108 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,129 | €28,237 | +€9,108 | +47.6% |
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 15 October 2026 via checked.be.