POLYCOM: 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.
What changed
POLYCOM
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,842
2024 · €3,824-€19,666
Equity
€1.6m
2024 · €1.6m-€51,842
Cash
€54,784
2024 · €19,175+€35,609
Balance sheet total
€1.9m
2024 · €1.8m+€15,779
Largest movements
Assets
- Cash +€35,609
up €35,609 (+186%), from €19,175 to €54,784
mainly Depreciation (+€92,848) and Other debts (+€36,000)
Equity and liabilities
- Profit (loss) carried forward -€40,942
down €40,942 (-79.4%), from €51,590 to €10,648
- Other debts +€36,000
up €36,000 (+100%), from €36,000 to €72,000
- Debts after one year +€23,339
up €23,339 (+37.0%), from €63,107 to €86,446
of which Financial debts: +€20,039
- Current portion of long-term debt +€22,088
up €22,088 (+167%), from €13,205 to €35,293
Income statement
- Gross operating margin -€22,837
down €22,837 (-19.6%), from €116,738 to €93,901
- Taxes -€7,845
down €7,845 (-95.7%), from €8,200 to €355
- Depreciation +€2,338
up €2,338 (+2.6%), from €90,509 to €92,848
- Other operating charges +€1,497
up €1,497 (+9.3%), from €16,120 to €17,617
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.
Result 2024
€3,824
Gross operating margin
-€22,837
Depreciation
-€2,338
Other operating charges
-€1,497
Financial income
-€824
Financial charges
-€14
Taxes
+€7,845
Result 2025
-€15,842
raises the resultlowers the result
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.
From operations
+€103,673
Investment
-€77,491
Financing
+€9,427
Cash 2024
€19,175
From operations (derived)
+€103,673
Net result for the year
-€15,842
Depreciation
+€92,848
Receivables within one year
+€4,267
Deferred charges and accrued income
+€206
Provisions
-€3,633
Trade debts
-€4,054
Tax, wage and social debts
-€3,969
Other debts
+€36,000
Accrued charges and deferred income
-€2,150
Investment (derived)
-€77,491
Investment in fixed assets (net)
-€77,491
Financing
+€9,427
Debts after one year
+€23,339
Current portion of long-term debt
+€22,088
Contributions, distributions and other
-€36,000
Cash 2025
€54,784
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,843,075 | €1,858,854 | +€15,779 | +0.9% |
| Fixed assets | 21/28 | €1,748,489 | €1,733,132 | -€15,357 | -0.9% |
| Tangible fixed assets | 22/27 | €1,748,489 | €1,733,132 | -€15,357 | -0.9% |
| Land and buildings | 22 | €1,740,242 | €1,730,811 | -€9,432 | -0.5% |
| Plant, machinery and equipment | 23 | €5,323 | €253 | -€5,071 | -95.3% |
| Furniture and vehicles | 24 | €577 | €2,069 | +€1,492 | +259% |
| Other tangible fixed assets | 26 | €2,346 | - | -€2,346 | |
| Current assets | 29/58 | €94,586 | €125,721 | +€31,136 | +32.9% |
| Amounts receivable within one year | 40/41 | €75,205 | €70,937 | -€4,267 | -5.7% |
| Trade receivables | 40 | €4,840 | - | -€4,840 | |
| Other amounts receivable | 41 | €70,365 | €70,937 | +€573 | +0.8% |
| Cash at bank and in hand | 54/58 | €19,175 | €54,784 | +€35,609 | +186% |
| Deferred charges and accrued income | 490/1 | €206 | - | -€206 | |
| Total equity and liabilities | 10/49 | €1,843,075 | €1,858,854 | +€15,779 | +0.9% |
| Equity | 10/15 | €1,639,325 | €1,587,483 | -€51,842 | -3.2% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €387,735 | €376,834 | -€10,900 | -2.8% |
| Non-distributable reserves | 130/1 | €130,981 | €130,981 | = | 0.0% |
| Legal reserve | 130 | €28,981 | €28,981 | = | 0.0% |
| Other | 1319 | €102,000 | €102,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €247,312 | €236,411 | -€10,900 | -4.4% |
| Distributable reserves | 133 | €9,442 | €9,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,590 | €10,648 | -€40,942 | -79.4% |
| Provisions and deferred taxes | 16 | €69,654 | €66,020 | -€3,633 | -5.2% |
| Deferred taxes | 168 | €69,654 | €66,020 | -€3,633 | -5.2% |
| Amounts payable | 17/49 | €134,096 | €205,350 | +€71,255 | +53.1% |
| Amounts payable after more than one year | 17 | €63,107 | €86,446 | +€23,339 | +37.0% |
| Financial debts | 170/4 | €26,790 | €46,829 | +€20,039 | +74.8% |
| Other amounts payable | 178/9 | €36,318 | €39,618 | +€3,300 | +9.1% |
| Amounts payable within one year | 42/48 | €64,978 | €115,044 | +€50,066 | +77.0% |
| Current portion of amounts payable after more than one year | 42 | €13,205 | €35,293 | +€22,088 | +167% |
| Trade debts | 44 | €8,536 | €4,482 | -€4,054 | -47.5% |
| Suppliers | 440/4 | €8,536 | €4,482 | -€4,054 | -47.5% |
| Taxes, remuneration and social security | 45 | €7,238 | €3,269 | -€3,969 | -54.8% |
| Taxes | 450/3 | €7,238 | €3,269 | -€3,969 | -54.8% |
| Other amounts payable | 47/48 | €36,000 | €72,000 | +€36,000 | +100% |
| Accrued charges and deferred income | 492/3 | €6,010 | €3,860 | -€2,150 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,509 | €92,848 | +€2,338 | +2.6% |
| Other operating charges | 640/8 | €16,120 | €17,617 | +€1,497 | +9.3% |
| Gross operating margin | 9900 | €116,738 | €93,901 | -€22,837 | -19.6% |
| Operating profit (loss) | 9901 | €10,109 | -€16,564 | -€26,673 | |
| Financial income | 75/76B | €1,072 | €248 | -€824 | -76.9% |
| Recurring financial income | 75 | €1,072 | €248 | -€824 | -76.9% |
| Financial charges | 65/66B | €2,790 | €2,804 | +€14 | +0.5% |
| Recurring financial charges | 65 | €2,790 | €2,804 | +€14 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €8,391 | -€19,121 | -€27,511 | |
| Transfer from deferred taxes | 780 | €3,633 | €3,633 | = | 0.0% |
| Income taxes | 67/77 | €8,200 | €355 | -€7,845 | -95.7% |
| Profit (loss) for the period | 9904 | €3,824 | -€15,842 | -€19,666 | |
| Transfer from tax-exempt reserves | 789 | €10,900 | €10,900 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,725 | -€4,942 | -€19,666 |
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.