POLYGOAT: what changed
POLYGOAT
Largest movements
- Receivables within one year -€22,635
down €22,635 (-82.6%), from €27,408 to €4,773
of which Other amounts receivable: -€19,396
- Cash +€21,265
up €21,265 (+14.0%), from €151,802 to €173,068
mainly Receivables within one year (+€22,635) and Tax, wage and social debts (+€10,057)
- Deferred charges and accrued income +€2,029
up €2,029 (+243%), from €836 to €2,865
- Tax, wage and social debts +€10,057
up €10,057 (+59.8%), from €16,807 to €26,864
of which Remuneration and social security: +€7,136
- Profit (loss) carried forward -€9,395
down €9,395 (-6.4%), from €146,661 to €137,266
- Other debts -€3,770
down €3,770 (-57.7%), from €6,528 to €2,758
- Trade debts +€3,290
up €3,290 (+51.9%), from €6,338 to €9,628
- Gross operating margin -€82,890
down €82,890 (-46.7%), from €177,611 to €94,721
- Taxes -€15,650
down €15,650 (-100%), from €15,650 to €0
- Staff costs -€13,686
down €13,686 (-12.1%), from €112,996 to €99,310
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,394 | €185,030 | +€635 | +0.3% |
| Fixed assets | 21/28 | €4,348 | €4,324 | -€24 | -0.6% |
| Tangible fixed assets | 22/27 | €4,348 | €4,324 | -€24 | -0.6% |
| Furniture and vehicles | 24 | €4,348 | €4,324 | -€24 | -0.6% |
| Current assets | 29/58 | €180,046 | €180,706 | +€660 | +0.4% |
| Amounts receivable within one year | 40/41 | €27,408 | €4,773 | -€22,635 | -82.6% |
| Trade receivables | 40 | €8,012 | €4,773 | -€3,238 | -40.4% |
| Other amounts receivable | 41 | €19,396 | €0 | -€19,396 | -100% |
| Cash at bank and in hand | 54/58 | €151,802 | €173,068 | +€21,265 | +14.0% |
| Deferred charges and accrued income | 490/1 | €836 | €2,865 | +€2,029 | +243% |
| Total equity and liabilities | 10/49 | €184,394 | €185,030 | +€635 | +0.3% |
| Equity | 10/15 | €154,721 | €145,326 | -€9,395 | -6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,661 | €137,266 | -€9,395 | -6.4% |
| Amounts payable | 17/49 | €29,673 | €39,704 | +€10,031 | +33.8% |
| Amounts payable within one year | 42/48 | €29,673 | €39,704 | +€10,031 | +33.8% |
| Financial debts | 43 | - | €454 | +€454 | |
| Credit institutions | 430/8 | - | €454 | +€454 | |
| Trade debts | 44 | €6,338 | €9,628 | +€3,290 | +51.9% |
| Suppliers | 440/4 | €6,338 | €9,628 | +€3,290 | +51.9% |
| Taxes, remuneration and social security | 45 | €16,807 | €26,864 | +€10,057 | +59.8% |
| Taxes | 450/3 | €0 | €2,921 | +€2,921 | |
| Remuneration and social security | 454/9 | €16,807 | €23,943 | +€7,136 | +42.5% |
| Other amounts payable | 47/48 | €6,528 | €2,758 | -€3,770 | -57.7% |
| Remuneration, social security and pensions | 62 | €112,996 | €99,310 | -€13,686 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,153 | €2,668 | +€515 | +23.9% |
| Other operating charges | 640/8 | €218 | €1,736 | +€1,518 | +696% |
| Gross operating margin | 9900 | €177,611 | €94,721 | -€82,890 | -46.7% |
| Operating profit (loss) | 9901 | €62,244 | -€8,993 | -€71,237 | |
| Financial income | 75/76B | €48 | €24 | -€25 | -51.0% |
| Recurring financial income | 75 | €48 | €24 | -€25 | -51.0% |
| Financial charges | 65/66B | €571 | €426 | -€145 | -25.4% |
| Recurring financial charges | 65 | €571 | €426 | -€145 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €61,722 | -€9,395 | -€71,117 | |
| Income taxes | 67/77 | €15,650 | €0 | -€15,650 | -100% |
| Profit (loss) for the period | 9904 | €46,072 | -€9,395 | -€55,467 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,072 | -€9,395 | -€55,467 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.