POLYGO: 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.
POLYGO
Largest movements
- Tangible fixed assets -€16,793
down €16,793 (-19.7%), from €85,233 to €68,440
of which Furniture and vehicles: -€8,651
- Cash +€8,857
up €8,857 (+59.0%), from €15,003 to €23,860
mainly Depreciation (+€33,270) and Net result for the year (+€11,987)
- Deferred charges and accrued income -€4,254
down €4,254 (-44.6%), from €9,543 to €5,289
- Receivables within one year +€4,211
up €4,211 (+14.7%), from €28,606 to €32,817
of which Other amounts receivable: +€2,973
- Intangible fixed assets -€1,574
down €1,574 (-31.4%), from €5,015 to €3,441
- Profit (loss) carried forward +€11,987
up €11,987 (+24.3%), from €49,310 to €61,297
- Debts after one year -€11,434
down €11,434 (-33.2%), from €34,473 to €23,039
- Current portion of long-term debt -€9,094
down €9,094 (-44.3%), from €20,529 to €11,434
- Depreciation +€8,275
up €8,275 (+33.1%), from €24,995 to €33,270
- Gross operating margin -€7,723
down €7,723 (-13.2%), from €58,516 to €50,793
- Taxes -€4,281
down €4,281 (-54.8%), from €7,808 to €3,527
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,400 | €133,847 | -€9,553 | -6.7% |
| Fixed assets | 21/28 | €90,248 | €71,881 | -€18,366 | -20.4% |
| Intangible fixed assets | 21 | €5,015 | €3,441 | -€1,574 | -31.4% |
| Tangible fixed assets | 22/27 | €85,233 | €68,440 | -€16,793 | -19.7% |
| Plant, machinery and equipment | 23 | €68,242 | €60,100 | -€8,142 | -11.9% |
| Furniture and vehicles | 24 | €16,991 | €8,340 | -€8,651 | -50.9% |
| Current assets | 29/58 | €53,152 | €61,965 | +€8,814 | +16.6% |
| Amounts receivable within one year | 40/41 | €28,606 | €32,817 | +€4,211 | +14.7% |
| Trade receivables | 40 | €28,606 | €29,844 | +€1,238 | +4.3% |
| Other amounts receivable | 41 | - | €2,973 | +€2,973 | |
| Cash at bank and in hand | 54/58 | €15,003 | €23,860 | +€8,857 | +59.0% |
| Deferred charges and accrued income | 490/1 | €9,543 | €5,289 | -€4,254 | -44.6% |
| Total equity and liabilities | 10/49 | €143,400 | €133,847 | -€9,553 | -6.7% |
| Equity | 10/15 | €51,310 | €63,297 | +€11,987 | +23.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,310 | €61,297 | +€11,987 | +24.3% |
| Amounts payable | 17/49 | €92,090 | €70,550 | -€21,540 | -23.4% |
| Amounts payable after more than one year | 17 | €34,473 | €23,039 | -€11,434 | -33.2% |
| Financial debts | 170/4 | €34,473 | €23,039 | -€11,434 | -33.2% |
| Amounts payable within one year | 42/48 | €56,588 | €47,511 | -€9,077 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €20,529 | €11,434 | -€9,094 | -44.3% |
| Trade debts | 44 | €2,240 | €2,527 | +€287 | +12.8% |
| Suppliers | 440/4 | €2,240 | €2,527 | +€287 | +12.8% |
| Taxes, remuneration and social security | 45 | €6,460 | €5,501 | -€959 | -14.8% |
| Taxes | 450/3 | €6,460 | €5,501 | -€959 | -14.8% |
| Other amounts payable | 47/48 | €27,359 | €28,048 | +€689 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,029 | - | -€1,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,995 | €33,270 | +€8,275 | +33.1% |
| Other operating charges | 640/8 | €98 | €501 | +€403 | +412.6% |
| Non-recurring operating charges | 66A | €435 | - | -€435 | |
| Gross operating margin | 9900 | €58,516 | €50,793 | -€7,723 | -13.2% |
| Operating profit (loss) | 9901 | €32,988 | €17,023 | -€15,966 | -48.4% |
| Financial charges | 65/66B | €1,819 | €1,509 | -€311 | -17.1% |
| Recurring financial charges | 65 | €1,819 | €1,509 | -€311 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €31,169 | €15,514 | -€15,655 | -50.2% |
| Income taxes | 67/77 | €7,808 | €3,527 | -€4,281 | -54.8% |
| Profit (loss) for the period | 9904 | €23,361 | €11,987 | -€11,374 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,361 | €11,987 | -€11,374 | -48.7% |
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.