POLYDAK: what changed
Two fiscal 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
POLYDAK
NACE 43.410, Roofing work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€469,523
2024 · €353,001+€116,522
Equity
€2.4m
2024 · €2.4m+€19,523
Cash
€316,153
2024 · €50,452+€265,701
Balance sheet total
€8.1m
2024 · €6.7m+€1.4m
Largest movements
Assets
- Receivables within one year +€508,188
up €508,188 (+11.5%), from €4.4m to €4.9m
of which Other amounts receivable: +€276,322
- Tangible fixed assets +€313,457
up €313,457 (+18.4%), from €1.7m to €2.0m
of which Plant, machinery and equipment: +€267,960
- Stocks and contracts +€267,084
up €267,084 (+53.0%), from €503,967 to €771,051
of which Stocks: +€256,527
- Cash +€265,701
up €265,701 (+526.6%), from €50,452 to €316,153
mainly Short-term financial debts (+€1.1m) and Net result for the year (+€469,523)
Equity and liabilities
- Short-term financial debts +€1.1m
up €1.1m (+102.6%), from €1.1m to €2.2m
- Debts after one year +€174,863
up €174,863 (+37.5%), from €466,774 to €641,638
- Other debts +€100,000
up €100,000 (+28.6%), from €350,000 to €450,000
Income statement
- Turnover +€3.8m
up €3.8m (+18.7%), from €20.1m to €23.9m
- Goods and materials +€3.1m
up €3.1m (+21.8%), from €14.3m to €17.5m
of which Purchases: +€3.6m
- Services and other goods +€393,164
up €393,164 (+19.9%), from €2.0m to €2.4m
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
€353,001
Turnover
+€3.8m
Other operating income
+€16,150
Goods and materials
-€3.1m
Services and other goods
-€393,164
Staff costs
-€17,973
Depreciation
-€78,604
Write-downs
-€27,122
Other operating charges
+€27,125
Other operating items
+€10,178
Financial income
+€31,178
Financial charges
-€34,063
Taxes
-€39,401
Result 2025
€469,523
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.
From operations
+€52,115
Investment
-€656,877
Financing
+€870,463
Cash 2024
€50,452
From operations (derived)
+€52,115
Net result for the year
+€469,523
Depreciation
+€343,420
Stocks and contracts
-€267,084
Receivables within one year
-€508,188
Smaller working-capital items
-€1,661
Trade debts
+€3,511
Tax, wage and social debts
-€74,629
Advances received
-€12,777
Other debts
+€100,000
Investment (derived)
-€656,877
Investment in fixed assets (net)
-€656,877
Financing
+€870,463
Debts after one year
+€174,863
Current portion of long-term debt
+€36,389
Short-term financial debts
+€1.1m
Contributions, distributions and other
-€450,000
Cash 2025
€316,153
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,719,628 | €8,075,410 | +€1.4m | +20.2% |
| Fixed assets | 21/28 | €1,706,875 | €2,020,332 | +€313,457 | +18.4% |
| Tangible fixed assets | 22/27 | €1,703,709 | €2,017,166 | +€313,457 | +18.4% |
| Plant, machinery and equipment | 23 | €610,545 | €878,505 | +€267,960 | +43.9% |
| Furniture and vehicles | 24 | €634,085 | €705,884 | +€71,800 | +11.3% |
| Other tangible fixed assets | 26 | €459,079 | €432,776 | -€26,303 | -5.7% |
| Financial fixed assets | 28 | €3,166 | €3,166 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,166 | €3,166 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,166 | €3,166 | = | 0.0% |
| Current assets | 29/58 | €5,012,753 | €6,055,078 | +€1.0m | +20.8% |
| Stocks and contracts in progress | 3 | €503,967 | €771,051 | +€267,084 | +53.0% |
| Stocks | 30/36 | €503,967 | €760,494 | +€256,527 | +50.9% |
| Goods purchased for resale | 34 | €503,967 | €760,494 | +€256,527 | +50.9% |
| Contracts in progress | 37 | - | €10,556 | +€10,556 | |
| Amounts receivable within one year | 40/41 | €4,414,115 | €4,922,303 | +€508,188 | +11.5% |
| Trade receivables | 40 | €3,352,134 | €3,583,999 | +€231,865 | +6.9% |
| Other amounts receivable | 41 | €1,061,981 | €1,338,303 | +€276,322 | +26.0% |
| Cash at bank and in hand | 54/58 | €50,452 | €316,153 | +€265,701 | +526.6% |
| Deferred charges and accrued income | 490/1 | €44,219 | €45,571 | +€1,353 | +3.1% |
| Total equity and liabilities | 10/49 | €6,719,628 | €8,075,410 | +€1.4m | +20.2% |
| Equity | 10/15 | €2,421,495 | €2,441,018 | +€19,523 | +0.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €2,221,495 | €2,241,018 | +€19,523 | +0.9% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,097 | €2,097 | = | 0.0% |
| Distributable reserves | 133 | €2,199,397 | €2,218,920 | +€19,523 | +0.9% |
| Amounts payable | 17/49 | €4,298,133 | €5,634,392 | +€1.3m | +31.1% |
| Amounts payable after more than one year | 17 | €466,774 | €641,638 | +€174,863 | +37.5% |
| Financial debts | 170/4 | €466,774 | €641,638 | +€174,863 | +37.5% |
| Credit institutions | 173 | €466,774 | €641,638 | +€174,863 | +37.5% |
| Amounts payable within one year | 42/48 | €3,830,179 | €4,991,882 | +€1.2m | +30.3% |
| Current portion of amounts payable after more than one year | 42 | €230,690 | €267,079 | +€36,389 | +15.8% |
| Financial debts | 43 | €1,080,640 | €2,189,850 | +€1.1m | +102.6% |
| Credit institutions | 430/8 | €1,080,640 | €2,189,850 | +€1.1m | +102.6% |
| Trade debts | 44 | €1,573,302 | €1,576,813 | +€3,511 | +0.2% |
| Suppliers | 440/4 | €1,573,302 | €1,576,813 | +€3,511 | +0.2% |
| Advances received on contracts in progress | 46 | €319,436 | €306,659 | -€12,777 | -4.0% |
| Taxes, remuneration and social security | 45 | €276,110 | €201,481 | -€74,629 | -27.0% |
| Taxes | 450/3 | €92,651 | €56,935 | -€35,717 | -38.5% |
| Remuneration and social security | 454/9 | €183,459 | €144,546 | -€38,913 | -21.2% |
| Other amounts payable | 47/48 | €350,000 | €450,000 | +€100,000 | +28.6% |
| Accrued charges and deferred income | 492/3 | €1,181 | €872 | -€308 | -26.1% |
| Operating income | 70/76A | €20,287,491 | €24,067,263 | +€3.8m | +18.6% |
| Turnover | 70 | €20,099,474 | €23,854,141 | +€3.8m | +18.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €10,556 | +€10,556 | |
| Other operating income | 74 | €180,257 | €196,407 | +€16,150 | +9.0% |
| Non-recurring operating income | 76A | €7,760 | €6,159 | -€1,601 | -20.6% |
| Operating charges | 60/66A | €19,603,066 | €23,224,031 | +€3.6m | +18.5% |
| Goods for resale, raw materials and consumables | 60 | €14,345,249 | €17,477,700 | +€3.1m | +21.8% |
| Purchases | 600/8 | €14,098,953 | €17,734,227 | +€3.6m | +25.8% |
| Change in stocks: decrease (increase) | 609 | €246,296 | -€256,527 | -€502,823 | |
| Services and other goods | 61 | €1,979,672 | €2,372,836 | +€393,164 | +19.9% |
| Remuneration, social security and pensions | 62 | €2,976,515 | €2,994,488 | +€17,973 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264,816 | €343,420 | +€78,604 | +29.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,041 | €3,081 | +€27,122 | |
| Other operating charges | 640/8 | €38,247 | €11,122 | -€27,125 | -70.9% |
| Non-recurring operating charges | 66A | €22,607 | €21,383 | -€1,224 | -5.4% |
| Operating profit (loss) | 9901 | €684,426 | €843,233 | +€158,807 | +23.2% |
| Financial income | 75/76B | €21,188 | €52,366 | +€31,178 | +147.2% |
| Recurring financial income | 75 | €21,188 | €52,366 | +€31,178 | +147.2% |
| Income from current assets | 751 | €6,809 | €4,164 | -€2,645 | -38.8% |
| Other financial income | 752/9 | €14,379 | €48,202 | +€33,824 | +235.2% |
| Financial charges | 65/66B | €227,693 | €261,756 | +€34,063 | +15.0% |
| Recurring financial charges | 65 | €227,693 | €261,756 | +€34,063 | +15.0% |
| Debt charges | 650 | €43,218 | €71,894 | +€28,676 | +66.4% |
| Other financial charges | 652/9 | €184,475 | €189,862 | +€5,387 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €477,921 | €633,843 | +€155,922 | +32.6% |
| Income taxes | 67/77 | €124,920 | €164,320 | +€39,401 | +31.5% |
| Taxes | 670/3 | €125,283 | €164,320 | +€39,037 | +31.2% |
| Tax adjustments and reversals of tax provisions | 77 | €364 | - | -€364 | |
| Profit (loss) for the period | 9904 | €353,001 | €469,523 | +€116,522 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €353,001 | €469,523 | +€116,522 | +33.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.