POLYDAK II: 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
POLYDAK II
NACE 43.410, Roofing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€259,860
2024 · €232,944+€26,915
Equity
€1.2m
2024 · €1.2m+€9,860
Cash
€68,310
2024 · €58,289+€10,021
Balance sheet total
€2.6m
2024 · €2.3m+€276,323
Largest movements
Assets
- Receivables within one year +€390,271
up €390,271 (+26.3%), from €1.5m to €1.9m
of which Other amounts receivable: +€721,347
- Stocks and contracts -€74,482
down €74,482 (-25.7%), from €289,596 to €215,114
of which Stocks: -€64,188
- Tangible fixed assets -€58,253
down €58,253 (-12.0%), from €486,796 to €428,543
of which Other tangible fixed assets: -€29,184
Equity and liabilities
- Short-term financial debts +€192,214
up €192,214 (+218%), from €88,322 to €280,536
- Other debts +€50,277
up €50,277 (+24.9%), from €201,648 to €251,925
Income statement
- Purchases and services -€359,261
down €359,261 (-5.3%), from €6.8m to €6.5m
- Gross operating margin +€217,175
up €217,175 (+13.4%), from €1.6m to €1.8m
- Staff costs +€173,821
up €173,821 (+15.9%), from €1.1m to €1.3m
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
€232,944
Gross operating margin
+€217,175
Staff costs
-€173,821
Depreciation
-€3,219
Write-downs
-€706
Other operating charges
+€57
Other operating items
+€16,270
Financial income
-€7,987
Financial charges
-€13,515
Taxes
-€7,338
Result 2025
€259,860
raises the resultlowers the resultnot broken down further in the accounts
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
+€122,079
Investment
-€60,376
Financing
-€51,682
Cash 2024
€58,289
From operations (derived)
+€122,079
Net result for the year
+€259,860
Depreciation
+€116,130
Stocks and contracts
+€74,482
Receivables within one year
-€390,271
Deferred charges and accrued income
-€6,267
Trade debts
+€9,190
Tax, wage and social debts
+€10,870
Other debts
+€50,277
Accrued charges and deferred income
-€2,192
Investment (derived)
-€60,376
Investment in fixed assets (net)
-€60,376
Financing
-€51,682
Debts after one year
+€3,869
Current portion of long-term debt
+€2,235
Short-term financial debts
+€192,214
Contributions, distributions and other
-€250,000
Cash 2025
€68,310
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,339,206 | €2,615,529 | +€276,323 | +11.8% |
| Fixed assets | 21/28 | €487,358 | €431,605 | -€55,753 | -11.4% |
| Tangible fixed assets | 22/27 | €486,796 | €428,543 | -€58,253 | -12.0% |
| Plant, machinery and equipment | 23 | €86,543 | €69,937 | -€16,607 | -19.2% |
| Furniture and vehicles | 24 | €208,177 | €195,715 | -€12,463 | -6.0% |
| Other tangible fixed assets | 26 | €192,075 | €162,891 | -€29,184 | -15.2% |
| Financial fixed assets | 28 | €562 | €3,062 | +€2,500 | +445% |
| Current assets | 29/58 | €1,851,848 | €2,183,924 | +€332,077 | +17.9% |
| Stocks and contracts in progress | 3 | €289,596 | €215,114 | -€74,482 | -25.7% |
| Stocks | 30/36 | €279,302 | €215,114 | -€64,188 | -23.0% |
| Contracts in progress | 37 | €10,294 | - | -€10,294 | |
| Amounts receivable within one year | 40/41 | €1,485,400 | €1,875,671 | +€390,271 | +26.3% |
| Trade receivables | 40 | €1,314,805 | €983,729 | -€331,076 | -25.2% |
| Other amounts receivable | 41 | €170,594 | €891,941 | +€721,347 | +423% |
| Cash at bank and in hand | 54/58 | €58,289 | €68,310 | +€10,021 | +17.2% |
| Deferred charges and accrued income | 490/1 | €18,562 | €24,830 | +€6,267 | +33.8% |
| Total equity and liabilities | 10/49 | €2,339,206 | €2,615,529 | +€276,323 | +11.8% |
| Equity | 10/15 | €1,189,822 | €1,199,682 | +€9,860 | +0.8% |
| Contributions | 10/11 | €209,000 | €209,000 | = | 0.0% |
| Capital | 10 | €209,000 | €209,000 | = | 0.0% |
| Issued capital | 100 | €209,000 | €209,000 | = | 0.0% |
| Reserves | 13 | €980,822 | €990,682 | +€9,860 | +1.0% |
| Non-distributable reserves | 130/1 | €20,900 | €20,900 | = | 0.0% |
| Legal reserve | 130 | €20,900 | €20,900 | = | 0.0% |
| Distributable reserves | 133 | €959,922 | €969,782 | +€9,860 | +1.0% |
| Amounts payable | 17/49 | €1,149,384 | €1,415,847 | +€266,463 | +23.2% |
| Amounts payable after more than one year | 17 | €135,417 | €139,286 | +€3,869 | +2.9% |
| Financial debts | 170/4 | €135,417 | €139,286 | +€3,869 | +2.9% |
| Amounts payable within one year | 42/48 | €1,011,776 | €1,276,561 | +€264,786 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €32,332 | €34,567 | +€2,235 | +6.9% |
| Financial debts | 43 | €88,322 | €280,536 | +€192,214 | +218% |
| Credit institutions | 430/8 | €88,322 | €280,536 | +€192,214 | +218% |
| Trade debts | 44 | €621,966 | €631,156 | +€9,190 | +1.5% |
| Suppliers | 440/4 | €621,966 | €631,156 | +€9,190 | +1.5% |
| Taxes, remuneration and social security | 45 | €67,507 | €78,377 | +€10,870 | +16.1% |
| Taxes | 450/3 | €29,856 | €29,518 | -€338 | -1.1% |
| Remuneration and social security | 454/9 | €37,652 | €48,859 | +€11,208 | +29.8% |
| Other amounts payable | 47/48 | €201,648 | €251,925 | +€50,277 | +24.9% |
| Accrued charges and deferred income | 492/3 | €2,192 | - | -€2,192 | |
| Turnover | 70 | €8,259,281 | €8,187,944 | -€71,337 | -0.9% |
| Non-recurring operating income | 76A | €1,529 | €1,571 | +€43 | +2.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,817,041 | €6,457,780 | -€359,261 | -5.3% |
| Remuneration, social security and pensions | 62 | €1,090,931 | €1,264,752 | +€173,821 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,910 | €116,130 | +€3,219 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,231 | €1,937 | +€706 | +57.4% |
| Other operating charges | 640/8 | €4,313 | €4,256 | -€57 | -1.3% |
| Non-recurring operating charges | 66A | €22,819 | €6,549 | -€16,270 | -71.3% |
| Gross operating margin | 9900 | €1,618,650 | €1,835,825 | +€217,175 | +13.4% |
| Operating profit (loss) | 9901 | €386,447 | €442,202 | +€55,755 | +14.4% |
| Financial income | 75/76B | €20,192 | €12,206 | -€7,987 | -39.6% |
| Recurring financial income | 75 | €20,192 | €12,206 | -€7,987 | -39.6% |
| Financial charges | 65/66B | €93,584 | €107,099 | +€13,515 | +14.4% |
| Recurring financial charges | 65 | €93,584 | €107,099 | +€13,515 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €313,056 | €347,309 | +€34,253 | +10.9% |
| Income taxes | 67/77 | €80,111 | €87,449 | +€7,338 | +9.2% |
| Profit (loss) for the period | 9904 | €232,944 | €259,860 | +€26,915 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €232,944 | €259,860 | +€26,915 | +11.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.