POLYFERON NV: 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.
POLYFERON NV
Largest movements
- Current investments -€1.6m
down €1.6m (-76.3%), from €2.1m to €487,854
- Cash -€588,738
down €588,738 (-75.7%), from €777,395 to €188,657
mainly Contributions, distributions and other (-€2.9m) and Receivables within one year (-€205,648)
- Receivables within one year +€205,648
up €205,648 (+20.2%), from €1.0m to €1.2m
of which Trade receivables: +€126,485
- Tangible fixed assets -€99,208
down €99,208 (-14.7%), from €673,224 to €574,016
of which Land and buildings: -€66,197
- Profit (loss) carried forward -€1.8m
no longer reported in 2025 (was €1.8m)
- Reserves -€619,230
down €619,230 (-40.9%), from €1.5m to €893,165
of which Non-distributable reserves: -€1.0m
- Other debts +€403,900
up €403,900 (+12,082%), from €3,343 to €407,243
- Accrued charges and deferred income -€96,652
down €96,652 (-99.7%), from €96,950 to €298
- Financial income +€443,373
up €443,373 (+315%), from €140,679 to €584,052
of which Financial income: +€405,319
- Gross operating margin +€181,335
up €181,335 (+41.7%), from €434,419 to €615,754
- Turnover +€147,668
up €147,668 (+21.3%), from €692,027 to €839,695
- Staff costs +€128,555
up €128,555 (+39.7%), from €324,200 to €452,755
- Taxes +€101,249
up €101,249 (+364%), from €27,839 to €129,088
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 | €4,530,090 | €2,481,988 | -€2.0m | -45.2% |
| Fixed assets | 21/28 | €673,224 | €574,016 | -€99,208 | -14.7% |
| Tangible fixed assets | 22/27 | €673,224 | €574,016 | -€99,208 | -14.7% |
| Land and buildings | 22 | €519,582 | €453,385 | -€66,197 | -12.7% |
| Furniture and vehicles | 24 | €153,642 | €120,631 | -€33,011 | -21.5% |
| Current assets | 29/58 | €3,856,866 | €1,907,972 | -€1.9m | -50.5% |
| Amounts receivable within one year | 40/41 | €1,019,763 | €1,225,411 | +€205,648 | +20.2% |
| Trade receivables | 40 | €4,504 | €130,989 | +€126,485 | +2,808% |
| Other amounts receivable | 41 | €1,015,259 | €1,094,422 | +€79,163 | +7.8% |
| Current investments | 50/53 | €2,058,464 | €487,854 | -€1.6m | -76.3% |
| Cash at bank and in hand | 54/58 | €777,395 | €188,657 | -€588,738 | -75.7% |
| Deferred charges and accrued income | 490/1 | €1,244 | €6,050 | +€4,806 | +386% |
| Total equity and liabilities | 10/49 | €4,530,090 | €2,481,988 | -€2.0m | -45.2% |
| Equity | 10/15 | €4,395,382 | €1,996,595 | -€2.4m | -54.6% |
| Contributions | 10/11 | €124,000 | €124,251 | +€251 | +0.2% |
| Capital | 10 | €124,000 | €124,251 | +€251 | +0.2% |
| Issued capital | 100 | €124,000 | €124,251 | +€251 | +0.2% |
| Revaluation surpluses | 12 | €979,179 | €979,179 | = | 0.0% |
| Reserves | 13 | €1,512,395 | €893,165 | -€619,230 | -40.9% |
| Non-distributable reserves | 130/1 | €1,012,395 | €12,395 | -€1.0m | -98.8% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Financial assistance | 1313 | €1,000,000 | - | -€1.0m | |
| Distributable reserves | 133 | €500,000 | €880,770 | +€380,770 | +76.2% |
| Profit (loss) carried forward | 14 | €1,779,808 | - | -€1.8m | |
| Amounts payable | 17/49 | €134,708 | €485,393 | +€350,685 | +260% |
| Amounts payable within one year | 42/48 | €37,758 | €485,095 | +€447,337 | +1,185% |
| Trade debts | 44 | €8,016 | €10,517 | +€2,501 | +31.2% |
| Suppliers | 440/4 | €8,016 | €10,517 | +€2,501 | +31.2% |
| Taxes, remuneration and social security | 45 | €26,399 | €67,335 | +€40,936 | +155% |
| Taxes | 450/3 | €3,058 | €49,900 | +€46,842 | +1,532% |
| Remuneration and social security | 454/9 | €23,341 | €17,435 | -€5,906 | -25.3% |
| Other amounts payable | 47/48 | €3,343 | €407,243 | +€403,900 | +12,082% |
| Accrued charges and deferred income | 492/3 | €96,950 | €298 | -€96,652 | -99.7% |
| Turnover | 70 | €692,027 | €839,695 | +€147,668 | +21.3% |
| Non-recurring operating income | 76A | €2 | - | -€2 | |
| Goods, raw materials, services and sundry goods | 60/61 | €257,613 | €223,941 | -€33,672 | -13.1% |
| Remuneration, social security and pensions | 62 | €324,200 | €452,755 | +€128,555 | +39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,668 | €99,208 | +€22,540 | +29.4% |
| Other operating charges | 640/8 | €10,073 | €10,621 | +€548 | +5.4% |
| Non-recurring operating charges | 66A | €132 | €159 | +€27 | +20.5% |
| Gross operating margin | 9900 | €434,419 | €615,754 | +€181,335 | +41.7% |
| Operating profit (loss) | 9901 | €23,346 | €53,011 | +€29,665 | +127% |
| Financial income | 75/76B | €140,679 | €584,052 | +€443,373 | +315% |
| Recurring financial income | 75 | €140,679 | €545,998 | +€405,319 | +288% |
| Non-recurring financial income | 76B | - | €38,054 | +€38,054 | |
| Financial charges | 65/66B | €16,370 | €22,013 | +€5,643 | +34.5% |
| Recurring financial charges | 65 | €16,370 | €22,013 | +€5,643 | +34.5% |
| Non-recurring financial charges | 66B | €16,370 | - | -€16,370 | |
| Profit (loss) for the period before taxes | 9903 | €147,655 | €615,050 | +€467,395 | +317% |
| Income taxes | 67/77 | €27,839 | €129,088 | +€101,249 | +364% |
| Profit (loss) for the period | 9904 | €119,816 | €485,962 | +€366,146 | +306% |
| Profit (loss) for the period to be appropriated | 9905 | €119,816 | €485,962 | +€366,146 | +306% |
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 22 October 2026 via checked.be.