POLYMAR: 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.
POLYMAR
Largest movements
- Cash -€488,152
down €488,152 (-18.4%), from €2.6m to €2.2m
mainly Receivables within one year (-€361,918) and Stocks and contracts (-€338,922)
- Receivables within one year +€361,918
up €361,918 (+81.0%), from €446,693 to €808,611
of which Trade receivables: +€382,453
- Stocks and contracts +€338,922
up €338,922 (+68.4%), from €495,799 to €834,721
- Trade debts +€211,145
up €211,145 (+640.3%), from €32,975 to €244,119
- Staff costs -€62,809
down €62,809 (-26.6%), from €236,284 to €173,474
- Financial charges +€55,439
up €55,439 (+888.8%), from €6,238 to €61,677
- Financial income -€33,818
down €33,818 (-35.4%), from €95,450 to €61,632
- Gross operating margin +€17,541
up €17,541 (+8.7%), from €201,283 to €218,824
- Taxes -€6,216
down €6,216 (-44.2%), from €14,070 to €7,854
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 | €3,661,175 | €3,862,171 | +€200,996 | +5.5% |
| Fixed assets | 21/28 | €55,929 | €43,615 | -€12,314 | -22.0% |
| Intangible fixed assets | 21 | €13,011 | €18,026 | +€5,014 | +38.5% |
| Tangible fixed assets | 22/27 | €42,918 | €25,590 | -€17,328 | -40.4% |
| Furniture and vehicles | 24 | €42,918 | €25,590 | -€17,328 | -40.4% |
| Current assets | 29/58 | €3,605,246 | €3,818,556 | +€213,310 | +5.9% |
| Stocks and contracts in progress | 3 | €495,799 | €834,721 | +€338,922 | +68.4% |
| Stocks | 30/36 | €495,799 | €834,721 | +€338,922 | +68.4% |
| Amounts receivable within one year | 40/41 | €446,693 | €808,611 | +€361,918 | +81.0% |
| Trade receivables | 40 | €366,913 | €749,366 | +€382,453 | +104.2% |
| Other amounts receivable | 41 | €79,780 | €59,245 | -€20,535 | -25.7% |
| Cash at bank and in hand | 54/58 | €2,649,472 | €2,161,319 | -€488,152 | -18.4% |
| Deferred charges and accrued income | 490/1 | €13,282 | €13,904 | +€623 | +4.7% |
| Total equity and liabilities | 10/49 | €3,661,175 | €3,862,171 | +€200,996 | +5.5% |
| Equity | 10/15 | €3,586,674 | €3,593,806 | +€7,132 | +0.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €3,386,674 | €3,393,806 | +€7,132 | +0.2% |
| Distributable reserves | 133 | €3,386,674 | €3,393,806 | +€7,132 | +0.2% |
| Amounts payable | 17/49 | €74,501 | €268,365 | +€193,864 | +260.2% |
| Amounts payable within one year | 42/48 | €42,215 | €264,455 | +€222,240 | +526.4% |
| Trade debts | 44 | €32,975 | €244,119 | +€211,145 | +640.3% |
| Suppliers | 440/4 | €32,975 | €244,119 | +€211,145 | +640.3% |
| Taxes, remuneration and social security | 45 | €7,544 | €17,475 | +€9,931 | +131.6% |
| Remuneration and social security | 454/9 | €7,544 | €17,475 | +€9,931 | +131.6% |
| Other amounts payable | 47/48 | €1,696 | €2,861 | +€1,164 | +68.6% |
| Accrued charges and deferred income | 492/3 | €32,286 | €3,909 | -€28,376 | -87.9% |
| Remuneration, social security and pensions | 62 | €236,284 | €173,474 | -€62,809 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,613 | €26,037 | +€5,424 | +26.3% |
| Other operating charges | 640/8 | €5,569 | €4,282 | -€1,287 | -23.1% |
| Gross operating margin | 9900 | €201,283 | €218,824 | +€17,541 | +8.7% |
| Operating profit (loss) | 9901 | -€61,183 | €15,031 | +€76,213 | |
| Financial income | 75/76B | €95,450 | €61,632 | -€33,818 | -35.4% |
| Recurring financial income | 75 | €95,450 | €61,632 | -€33,818 | -35.4% |
| Financial charges | 65/66B | €6,238 | €61,677 | +€55,439 | +888.8% |
| Recurring financial charges | 65 | €6,238 | €61,677 | +€55,439 | +888.8% |
| Profit (loss) for the period before taxes | 9903 | €28,030 | €14,986 | -€13,044 | -46.5% |
| Income taxes | 67/77 | €14,070 | €7,854 | -€6,216 | -44.2% |
| Profit (loss) for the period | 9904 | €13,960 | €7,132 | -€6,827 | -48.9% |
| Transfer from tax-exempt reserves | 789 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €434,960 | €7,132 | -€427,827 | -98.4% |
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 7 October 2026 via checked.be.