Polygonal: 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.
Polygonal
Largest movements
- Receivables within one year +€36,300
up €36,300 (+74.1%), from €48,979 to €85,279
of which Trade receivables: +€36,166
- Cash -€17,543
down €17,543 (-39.9%), from €43,997 to €26,454
mainly Receivables within one year (-€36,300) and Contributions, distributions and other (-€27,364)
- Intangible fixed assets -€9,329
down €9,329 (-39.6%), from €23,564 to €14,235
- Tangible fixed assets -€3,488
down €3,488 (-14.2%), from €24,523 to €21,035
of which Land and buildings: -€2,758
- Trade debts -€10,657
down €10,657 (-59.0%), from €18,065 to €7,407
- Advances received +€9,364
up €9,364 (+597%), from €1,568 to €10,933
- Reserves +€9,066
up €9,066 (+9.8%), from €92,807 to €101,874
- Tax, wage and social debts -€4,587
down €4,587 (-48.3%), from €9,487 to €4,900
of which Remuneration and social security: -€8,394
- Other debts +€2,541
up €2,541, from €0 to €2,541
- Staff costs -€12,832
down €12,832 (-37.0%), from €34,692 to €21,860
- Taxes +€7,387
up €7,387 (+65.6%), from €11,263 to €18,650
- Gross operating margin +€3,538
up €3,538 (+4.0%), from €89,196 to €92,734
- Depreciation -€1,797
down €1,797 (-11.2%), from €16,115 to €14,317
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 | €141,927 | €147,654 | +€5,727 | +4.0% |
| Fixed assets | 21/28 | €48,087 | €35,270 | -€12,817 | -26.7% |
| Intangible fixed assets | 21 | €23,564 | €14,235 | -€9,329 | -39.6% |
| Tangible fixed assets | 22/27 | €24,523 | €21,035 | -€3,488 | -14.2% |
| Land and buildings | 22 | €18,400 | €15,642 | -€2,758 | -15.0% |
| Plant, machinery and equipment | 23 | €697 | €325 | -€372 | -53.4% |
| Furniture and vehicles | 24 | €4,896 | €4,834 | -€62 | -1.3% |
| Other tangible fixed assets | 26 | €530 | €234 | -€296 | -55.9% |
| Current assets | 29/58 | €93,839 | €112,384 | +€18,545 | +19.8% |
| Amounts receivable within one year | 40/41 | €48,979 | €85,279 | +€36,300 | +74.1% |
| Trade receivables | 40 | €41,518 | €77,684 | +€36,166 | +87.1% |
| Other amounts receivable | 41 | €7,461 | €7,595 | +€134 | +1.8% |
| Cash at bank and in hand | 54/58 | €43,997 | €26,454 | -€17,543 | -39.9% |
| Deferred charges and accrued income | 490/1 | €863 | €651 | -€213 | -24.6% |
| Total equity and liabilities | 10/49 | €141,927 | €147,654 | +€5,727 | +4.0% |
| Equity | 10/15 | €112,807 | €121,874 | +€9,066 | +8.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €92,807 | €101,874 | +€9,066 | +9.8% |
| Distributable reserves | 133 | €92,807 | €101,874 | +€9,066 | +9.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,119 | €25,781 | -€3,339 | -11.5% |
| Amounts payable within one year | 42/48 | €29,119 | €25,781 | -€3,339 | -11.5% |
| Trade debts | 44 | €18,065 | €7,407 | -€10,657 | -59.0% |
| Suppliers | 440/4 | €18,065 | €7,407 | -€10,657 | -59.0% |
| Advances received on contracts in progress | 46 | €1,568 | €10,933 | +€9,364 | +597% |
| Taxes, remuneration and social security | 45 | €9,487 | €4,900 | -€4,587 | -48.3% |
| Taxes | 450/3 | €1,092 | €4,900 | +€3,808 | +349% |
| Remuneration and social security | 454/9 | €8,394 | €0 | -€8,394 | -100% |
| Other amounts payable | 47/48 | €0 | €2,541 | +€2,541 | |
| Remuneration, social security and pensions | 62 | €34,692 | €21,860 | -€12,832 | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,115 | €14,317 | -€1,797 | -11.2% |
| Other operating charges | 640/8 | €1,172 | €1,294 | +€122 | +10.4% |
| Gross operating margin | 9900 | €89,196 | €92,734 | +€3,538 | +4.0% |
| Operating profit (loss) | 9901 | €37,217 | €55,263 | +€18,046 | +48.5% |
| Financial income | 75/76B | €31 | €0 | -€31 | -100% |
| Recurring financial income | 75 | €31 | €0 | -€31 | -100% |
| Financial charges | 65/66B | €215 | €183 | -€32 | -14.7% |
| Recurring financial charges | 65 | €215 | €183 | -€32 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €37,033 | €55,080 | +€18,047 | +48.7% |
| Income taxes | 67/77 | €11,263 | €18,650 | +€7,387 | +65.6% |
| Profit (loss) for the period | 9904 | €25,770 | €36,430 | +€10,660 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,770 | €36,430 | +€10,660 | +41.4% |
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 13 October 2026 via checked.be.