POLYLAK: 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.
POLYLAK
Largest movements
- Receivables within one year -€245,733
down €245,733 (-78.0%), from €314,866 to €69,133
of which Other amounts receivable: -€123,614
- Tangible fixed assets +€177,897
up €177,897 (+16.3%), from €1.1m to €1.3m
of which Leasing and similar rights: +€134,982
- Intangible fixed assets -€47,789
down €47,789 (-8.0%), from €601,092 to €553,303
- Stocks and contracts -€27,937
down €27,937 (-13.0%), from €215,597 to €187,660
- Profit (loss) carried forward -€405,805
down €405,805 (-22.7%), from -€1.8m to -€2.2m
- Accrued charges and deferred income +€186,741
up €186,741 (+1218.6%), from €15,324 to €202,065
- Current portion of long-term debt +€76,569
up €76,569 (+56.8%), from €134,791 to €211,360
- Debts after one year -€65,804
down €65,804 (-18.0%), from €365,452 to €299,648
- Other debts +€55,488
up €55,488 (+6.3%), from €882,207 to €937,695
- Gross operating margin -€235,212
down €235,212 (-20.9%), from €1.1m to €890,522
- Staff costs -€76,334
down €76,334 (-8.7%), from €875,745 to €799,411
- Other operating charges +€72,602
up €72,602 (+149.3%), from €48,617 to €121,219
- Depreciation +€19,482
up €19,482 (+9.0%), from €216,285 to €235,767
- Financial charges -€19,386
down €19,386 (-16.9%), from €115,021 to €95,635
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 | €2,272,341 | €2,141,844 | -€130,497 | -5.7% |
| Fixed assets | 21/28 | €1,691,816 | €1,821,923 | +€130,108 | +7.7% |
| Intangible fixed assets | 21 | €601,092 | €553,303 | -€47,789 | -8.0% |
| Tangible fixed assets | 22/27 | €1,090,724 | €1,268,621 | +€177,897 | +16.3% |
| Plant, machinery and equipment | 23 | €409,162 | €470,816 | +€61,654 | +15.1% |
| Furniture and vehicles | 24 | €3,025 | €12,903 | +€9,879 | +326.6% |
| Leasing and similar rights | 25 | €378,563 | €513,545 | +€134,982 | +35.7% |
| Other tangible fixed assets | 26 | €299,974 | €271,356 | -€28,618 | -9.5% |
| Current assets | 29/58 | €580,525 | €319,921 | -€260,604 | -44.9% |
| Stocks and contracts in progress | 3 | €215,597 | €187,660 | -€27,937 | -13.0% |
| Stocks | 30/36 | €215,597 | €187,660 | -€27,937 | -13.0% |
| Amounts receivable within one year | 40/41 | €314,866 | €69,133 | -€245,733 | -78.0% |
| Trade receivables | 40 | €178,615 | €56,496 | -€122,119 | -68.4% |
| Other amounts receivable | 41 | €136,250 | €12,636 | -€123,614 | -90.7% |
| Cash at bank and in hand | 54/58 | €35,116 | €54,837 | +€19,721 | +56.2% |
| Deferred charges and accrued income | 490/1 | €14,947 | €8,291 | -€6,655 | -44.5% |
| Total equity and liabilities | 10/49 | €2,272,341 | €2,141,844 | -€130,497 | -5.7% |
| Equity | 10/15 | -€598,334 | -€1,004,139 | -€405,805 | -67.8% |
| Contributions | 10/11 | €1,180,565 | €1,180,565 | = | 0.0% |
| Capital | 10 | €1,180,565 | €1,180,565 | = | 0.0% |
| Issued capital | 100 | €1,180,565 | €1,180,565 | = | 0.0% |
| Reserves | 13 | €8,057 | €8,057 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,786,956 | -€2,192,761 | -€405,805 | -22.7% |
| Amounts payable | 17/49 | €2,870,675 | €3,145,983 | +€275,308 | +9.6% |
| Amounts payable after more than one year | 17 | €365,452 | €299,648 | -€65,804 | -18.0% |
| Financial debts | 170/4 | €365,452 | €299,648 | -€65,804 | -18.0% |
| Amounts payable within one year | 42/48 | €2,489,898 | €2,644,269 | +€154,371 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €134,791 | €211,360 | +€76,569 | +56.8% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €877,484 | €890,293 | +€12,809 | +1.5% |
| Suppliers | 440/4 | €877,484 | €890,293 | +€12,809 | +1.5% |
| Taxes, remuneration and social security | 45 | €95,416 | €104,921 | +€9,505 | +10.0% |
| Taxes | 450/3 | €22,085 | €29,962 | +€7,877 | +35.7% |
| Remuneration and social security | 454/9 | €73,331 | €74,959 | +€1,628 | +2.2% |
| Other amounts payable | 47/48 | €882,207 | €937,695 | +€55,488 | +6.3% |
| Accrued charges and deferred income | 492/3 | €15,324 | €202,065 | +€186,741 | +1218.6% |
| Non-recurring operating income | 76A | €125,334 | €6,709 | -€118,626 | -94.6% |
| Remuneration, social security and pensions | 62 | €875,745 | €799,411 | -€76,334 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,285 | €235,767 | +€19,482 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,346 | +€1,346 | |
| Other operating charges | 640/8 | €48,617 | €121,219 | +€72,602 | +149.3% |
| Non-recurring operating charges | 66A | - | €50,613 | +€50,613 | |
| Gross operating margin | 9900 | €1,125,733 | €890,522 | -€235,212 | -20.9% |
| Operating profit (loss) | 9901 | -€14,913 | -€317,834 | -€302,921 | -2031.2% |
| Financial income | 75/76B | €4,420 | €7,962 | +€3,542 | +80.1% |
| Recurring financial income | 75 | €4,420 | €7,962 | +€3,542 | +80.1% |
| Financial charges | 65/66B | €115,021 | €95,635 | -€19,386 | -16.9% |
| Recurring financial charges | 65 | €115,021 | €95,635 | -€19,386 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€125,514 | -€405,508 | -€279,994 | -223.1% |
| Income taxes | 67/77 | €480 | €297 | -€183 | -38.1% |
| Profit (loss) for the period | 9904 | -€125,994 | -€405,805 | -€279,811 | -222.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,994 | -€405,805 | -€279,811 | -222.1% |
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 1 October 2026 via checked.be.