POLYGONIA: 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.
POLYGONIA
Largest movements
- Stocks and contracts +€97,944
up €97,944 (+8.2%), from €1.2m to €1.3m
- Other debts +€96,100
up €96,100 (+8.8%), from €1.1m to €1.2m
- Trade debts +€57,449
up €57,449 (+3774.1%), from €1,522 to €58,971
- Tax, wage and social debts -€34,154
down €34,154 (-95.6%), from €35,713 to €1,559
- Profit (loss) carried forward -€31,240
down €31,240 (-5.3%), from -€589,699 to -€620,939
- Short-term financial debts +€16,449
up €16,449 (+2.6%), from €644,000 to €660,449
- Turnover -€554,272
down €554,272 (-95.2%), from €582,372 to €28,101
- Purchases and services -€531,067
down €531,067 (-96.6%), from €549,699 to €18,633
- Financial charges -€30,728
down €30,728 (-43.5%), from €70,656 to €39,929
- Gross operating margin -€23,205
down €23,205 (-71.0%), from €32,673 to €9,468
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 | €1,201,710 | €1,306,314 | +€104,604 | +8.7% |
| Fixed assets | 21/28 | €519 | - | -€519 | |
| Tangible fixed assets | 22/27 | €519 | - | -€519 | |
| Plant, machinery and equipment | 23 | €519 | - | -€519 | |
| Current assets | 29/58 | €1,201,191 | €1,306,314 | +€105,123 | +8.8% |
| Stocks and contracts in progress | 3 | €1,194,785 | €1,292,729 | +€97,944 | +8.2% |
| Stocks | 30/36 | €1,194,785 | €1,292,729 | +€97,944 | +8.2% |
| Amounts receivable within one year | 40/41 | €3,168 | €9,801 | +€6,633 | +209.3% |
| Trade receivables | 40 | - | €9,801 | +€9,801 | |
| Other amounts receivable | 41 | €3,168 | - | -€3,168 | |
| Cash at bank and in hand | 54/58 | €3,238 | €3,784 | +€546 | +16.9% |
| Total equity and liabilities | 10/49 | €1,201,710 | €1,306,314 | +€104,604 | +8.7% |
| Equity | 10/15 | -€571,099 | -€602,339 | -€31,240 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€589,699 | -€620,939 | -€31,240 | -5.3% |
| Amounts payable | 17/49 | €1,772,808 | €1,908,652 | +€135,844 | +7.7% |
| Amounts payable within one year | 42/48 | €1,772,808 | €1,908,652 | +€135,844 | +7.7% |
| Financial debts | 43 | €644,000 | €660,449 | +€16,449 | +2.6% |
| Credit institutions | 430/8 | €644,000 | €660,449 | +€16,449 | +2.6% |
| Trade debts | 44 | €1,522 | €58,971 | +€57,449 | +3774.1% |
| Suppliers | 440/4 | €1,522 | €58,971 | +€57,449 | +3774.1% |
| Taxes, remuneration and social security | 45 | €35,713 | €1,559 | -€34,154 | -95.6% |
| Taxes | 450/3 | €35,713 | €1,559 | -€34,154 | -95.6% |
| Other amounts payable | 47/48 | €1,091,573 | €1,187,673 | +€96,100 | +8.8% |
| Turnover | 70 | €582,372 | €28,101 | -€554,272 | -95.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €549,699 | €18,633 | -€531,067 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €519 | €519 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,048 | €260 | -€788 | -75.2% |
| Gross operating margin | 9900 | €32,673 | €9,468 | -€23,205 | -71.0% |
| Operating profit (loss) | 9901 | €31,106 | €8,689 | -€22,418 | -72.1% |
| Financial charges | 65/66B | €70,656 | €39,929 | -€30,728 | -43.5% |
| Recurring financial charges | 65 | €70,656 | €39,929 | -€30,728 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | -€39,550 | -€31,240 | +€8,310 | +21.0% |
| Profit (loss) for the period | 9904 | -€39,550 | -€31,240 | +€8,310 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,550 | -€31,240 | +€8,310 | +21.0% |
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 5 October 2026 via checked.be.