POLYMORPH: 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.
POLYMORPH
Largest movements
- Receivables within one year +€69,512
up €69,512 (+74.0%), from €93,877 to €163,389
of which Other amounts receivable: +€59,768
- Tangible fixed assets -€5,675
down €5,675 (-42.0%), from €13,514 to €7,839
- Reserves +€55,922
up €55,922 (+32.0%), from €174,879 to €230,801
- Tax, wage and social debts +€7,712
up €7,712 (+56.9%), from €13,555 to €21,267
- Gross operating margin +€24,801
up €24,801 (+42.7%), from €58,068 to €82,869
- Taxes +€7,995
up €7,995 (+51.5%), from €15,518 to €23,513
- Financial income +€2,853
up €2,853 (+75.6%), from €3,776 to €6,629
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 | €188,433 | €252,068 | +€63,634 | +33.8% |
| Fixed assets | 21/28 | €13,604 | €7,929 | -€5,675 | -41.7% |
| Tangible fixed assets | 22/27 | €13,514 | €7,839 | -€5,675 | -42.0% |
| Furniture and vehicles | 24 | €13,514 | €7,839 | -€5,675 | -42.0% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €174,830 | €244,139 | +€69,309 | +39.6% |
| Amounts receivable within one year | 40/41 | €93,877 | €163,389 | +€69,512 | +74.0% |
| Trade receivables | 40 | €13,283 | €23,027 | +€9,744 | +73.4% |
| Other amounts receivable | 41 | €80,594 | €140,362 | +€59,768 | +74.2% |
| Cash at bank and in hand | 54/58 | €76,848 | €75,460 | -€1,388 | -1.8% |
| Deferred charges and accrued income | 490/1 | €4,104 | €5,289 | +€1,185 | +28.9% |
| Total equity and liabilities | 10/49 | €188,433 | €252,068 | +€63,634 | +33.8% |
| Equity | 10/15 | €174,879 | €230,801 | +€55,922 | +32.0% |
| Reserves | 13 | €174,879 | €230,801 | +€55,922 | +32.0% |
| Distributable reserves | 133 | €174,879 | €230,801 | +€55,922 | +32.0% |
| Amounts payable | 17/49 | €13,555 | €21,267 | +€7,712 | +56.9% |
| Amounts payable within one year | 42/48 | €13,555 | €21,267 | +€7,712 | +56.9% |
| Taxes, remuneration and social security | 45 | €13,555 | €21,267 | +€7,712 | +56.9% |
| Taxes | 450/3 | €13,555 | €21,267 | +€7,712 | +56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,593 | €8,762 | +€169 | +2.0% |
| Other operating charges | 640/8 | €996 | €1,029 | +€33 | +3.3% |
| Gross operating margin | 9900 | €58,068 | €82,869 | +€24,801 | +42.7% |
| Operating profit (loss) | 9901 | €48,478 | €73,078 | +€24,599 | +50.7% |
| Financial income | 75/76B | €3,776 | €6,629 | +€2,853 | +75.6% |
| Recurring financial income | 75 | €3,776 | €6,629 | +€2,853 | +75.6% |
| Financial charges | 65/66B | €275 | €271 | -€5 | -1.7% |
| Recurring financial charges | 65 | €275 | €271 | -€5 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €51,979 | €79,436 | +€27,457 | +52.8% |
| Income taxes | 67/77 | €15,518 | €23,513 | +€7,995 | +51.5% |
| Profit (loss) for the period | 9904 | €36,461 | €55,922 | +€19,462 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,461 | €55,922 | +€19,462 | +53.4% |
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 9 October 2026 via checked.be.