POLYCHAPBETON: 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.
POLYCHAPBETON
Largest movements
- Receivables within one year +€55,862
up €55,862 (+42.3%), from €132,092 to €187,954
of which Trade receivables: +€52,984
- Tangible fixed assets -€44,254
down €44,254 (-46.7%), from €94,670 to €50,416
of which Other tangible fixed assets: -€24,725
- Intangible fixed assets -€13,000
down €13,000 (-36.4%), from €35,750 to €22,750
- Cash -€7,355
down €7,355 (-8.7%), from €84,227 to €76,871
mainly Receivables within one year (-€55,862) and Other debts (-€28,733)
- Trade debts +€66,099
up €66,099 (+51.5%), from €128,234 to €194,332
- Other debts -€28,733
no longer reported in 2025 (was €28,733)
- Profit (loss) carried forward -€25,611
down €25,611 (-22.7%), from €112,766 to €87,155
- Debts after one year -€17,822
down €17,822 (-43.7%), from €40,808 to €22,985
- Current portion of long-term debt -€6,090
down €6,090 (-25.5%), from €23,912 to €17,822
- Staff costs -€40,404
down €40,404 (-31.0%), from €130,540 to €90,136
- Gross operating margin -€27,064
down €27,064 (-15.1%), from €179,493 to €152,429
- Other operating charges +€3,150
up €3,150 (+112%), from €2,824 to €5,974
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 | €370,214 | €358,221 | -€11,993 | -3.2% |
| Fixed assets | 21/28 | €141,318 | €83,321 | -€57,997 | -41.0% |
| Intangible fixed assets | 21 | €35,750 | €22,750 | -€13,000 | -36.4% |
| Tangible fixed assets | 22/27 | €94,670 | €50,416 | -€44,254 | -46.7% |
| Plant, machinery and equipment | 23 | €2,810 | €3,141 | +€331 | +11.8% |
| Furniture and vehicles | 24 | €60,107 | €42,496 | -€17,610 | -29.3% |
| Leasing and similar rights | 25 | €3,039 | €790 | -€2,250 | -74.0% |
| Other tangible fixed assets | 26 | €28,714 | €3,989 | -€24,725 | -86.1% |
| Financial fixed assets | 28 | €10,899 | €10,155 | -€744 | -6.8% |
| Current assets | 29/58 | €228,896 | €274,900 | +€46,004 | +20.1% |
| Stocks and contracts in progress | 3 | €1,803 | €1,346 | -€457 | -25.4% |
| Stocks | 30/36 | €1,803 | €1,346 | -€457 | -25.4% |
| Amounts receivable within one year | 40/41 | €132,092 | €187,954 | +€55,862 | +42.3% |
| Trade receivables | 40 | €112,174 | €165,158 | +€52,984 | +47.2% |
| Other amounts receivable | 41 | €19,918 | €22,796 | +€2,878 | +14.4% |
| Cash at bank and in hand | 54/58 | €84,227 | €76,871 | -€7,355 | -8.7% |
| Deferred charges and accrued income | 490/1 | €10,774 | €8,729 | -€2,045 | -19.0% |
| Total equity and liabilities | 10/49 | €370,214 | €358,221 | -€11,993 | -3.2% |
| Equity | 10/15 | €134,766 | €109,155 | -€25,611 | -19.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,766 | €87,155 | -€25,611 | -22.7% |
| Amounts payable | 17/49 | €235,448 | €249,066 | +€13,617 | +5.8% |
| Amounts payable after more than one year | 17 | €40,808 | €22,985 | -€17,822 | -43.7% |
| Financial debts | 170/4 | €40,808 | €22,985 | -€17,822 | -43.7% |
| Amounts payable within one year | 42/48 | €194,640 | €226,080 | +€31,440 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €23,912 | €17,822 | -€6,090 | -25.5% |
| Trade debts | 44 | €128,234 | €194,332 | +€66,099 | +51.5% |
| Suppliers | 440/4 | €128,234 | €194,332 | +€66,099 | +51.5% |
| Taxes, remuneration and social security | 45 | €13,761 | €13,925 | +€164 | +1.2% |
| Taxes | 450/3 | €177 | €177 | = | 0.0% |
| Remuneration and social security | 454/9 | €13,584 | €13,749 | +€164 | +1.2% |
| Other amounts payable | 47/48 | €28,733 | - | -€28,733 | |
| Remuneration, social security and pensions | 62 | €130,540 | €90,136 | -€40,404 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,411 | €36,369 | -€42 | -0.1% |
| Other operating charges | 640/8 | €2,824 | €5,974 | +€3,150 | +112% |
| Non-recurring operating charges | 66A | - | €30,280 | +€30,280 | |
| Gross operating margin | 9900 | €179,493 | €152,429 | -€27,064 | -15.1% |
| Operating profit (loss) | 9901 | €9,719 | -€10,330 | -€20,049 | |
| Financial charges | 65/66B | €2,829 | €2,281 | -€548 | -19.4% |
| Recurring financial charges | 65 | €2,829 | €2,281 | -€548 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €6,890 | -€12,611 | -€19,501 | |
| Income taxes | 67/77 | €992 | - | -€992 | |
| Profit (loss) for the period | 9904 | €5,898 | -€12,611 | -€18,509 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,898 | -€12,611 | -€18,509 |
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 26 October 2026 via checked.be.