POLYGON: 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.
POLYGON
Largest movements
- Stocks and contracts -€755,120
down €755,120 (-74.1%), from €1.0m to €263,491
- Cash +€247,245
up €247,245 (+3610.5%), from €6,848 to €254,093
mainly Stocks and contracts (+€755,120) and Tax, wage and social debts (+€27,983)
- Receivables within one year -€12,363
down €12,363 (-100.0%), from €12,363 to €0
of which Other amounts receivable: -€11,868
- Short-term financial debts -€401,691
down €401,691 (-100.0%), from €401,691 to €0
- Reserves -€80,236
down €80,236 (-15.8%), from €506,877 to €426,641
- Trade debts -€35,758
down €35,758 (-72.3%), from €49,446 to €13,688
- Debts after one year -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Tax, wage and social debts +€27,983
new in 2026: €27,983
- Gross operating margin -€53,944
down €53,944 (-726.3%), from -€7,427 to -€61,371
- Financial income -€6,353
down €6,353 (-93.4%), from €6,804 to €452
- Financial charges +€6,090
up €6,090 (+51.3%), from €11,883 to €17,973
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,038,861 | €518,312 | -€520,549 | -50.1% |
| Fixed assets | 21/28 | €550 | €550 | = | 0.0% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €1,038,311 | €517,762 | -€520,549 | -50.1% |
| Stocks and contracts in progress | 3 | €1,018,610 | €263,491 | -€755,120 | -74.1% |
| Stocks | 30/36 | €1,018,610 | €263,491 | -€755,120 | -74.1% |
| Amounts receivable within one year | 40/41 | €12,363 | €0 | -€12,363 | -100.0% |
| Trade receivables | 40 | €496 | €0 | -€496 | -100.0% |
| Other amounts receivable | 41 | €11,868 | €0 | -€11,868 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,848 | €254,093 | +€247,245 | +3610.5% |
| Deferred charges and accrued income | 490/1 | €489 | €178 | -€311 | -63.5% |
| Total equity and liabilities | 10/49 | €1,038,861 | €518,312 | -€520,549 | -50.1% |
| Equity | 10/15 | €556,877 | €476,641 | -€80,236 | -14.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €506,877 | €426,641 | -€80,236 | -15.8% |
| Distributable reserves | 133 | €506,877 | €426,641 | -€80,236 | -15.8% |
| Amounts payable | 17/49 | €481,984 | €41,671 | -€440,313 | -91.4% |
| Amounts payable after more than one year | 17 | €30,000 | €0 | -€30,000 | -100.0% |
| Financial debts | 170/4 | €30,000 | €0 | -€30,000 | -100.0% |
| Amounts payable within one year | 42/48 | €451,137 | €41,671 | -€409,466 | -90.8% |
| Financial debts | 43 | €401,691 | €0 | -€401,691 | -100.0% |
| Credit institutions | 430/8 | €401,691 | €0 | -€401,691 | -100.0% |
| Trade debts | 44 | €49,446 | €13,688 | -€35,758 | -72.3% |
| Suppliers | 440/4 | €49,446 | €13,688 | -€35,758 | -72.3% |
| Taxes, remuneration and social security | 45 | - | €27,983 | +€27,983 | |
| Taxes | 450/3 | - | €27,983 | +€27,983 | |
| Accrued charges and deferred income | 492/3 | €847 | €0 | -€847 | -100.0% |
| Other operating charges | 640/8 | €1,374 | €1,344 | -€30 | -2.2% |
| Gross operating margin | 9900 | -€7,427 | -€61,371 | -€53,944 | -726.3% |
| Operating profit (loss) | 9901 | -€8,801 | -€62,715 | -€53,914 | -612.6% |
| Financial income | 75/76B | €6,804 | €452 | -€6,353 | -93.4% |
| Recurring financial income | 75 | €6,804 | €452 | -€6,353 | -93.4% |
| Financial charges | 65/66B | €11,883 | €17,973 | +€6,090 | +51.3% |
| Recurring financial charges | 65 | €11,883 | €17,973 | +€6,090 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,879 | -€80,236 | -€66,357 | -478.1% |
| Profit (loss) for the period | 9904 | -€13,879 | -€80,236 | -€66,357 | -478.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,879 | -€80,236 | -€66,357 | -478.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.