POLYPATHOS: 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.
POLYPATHOS
Largest movements
- Receivables within one year +€14,933
up €14,933 (+145%), from €10,305 to €25,238
of which Trade receivables: +€9,393
- Tangible fixed assets +€9,404
up €9,404 (+364%), from €2,584 to €11,988
- Deferred charges and accrued income +€1,337
up €1,337 (+46.0%), from €2,909 to €4,246
- Provisions +€28,688
new in 2025: €28,688
- Other debts -€11,291
down €11,291 (-100%), from €11,291 to €0
- Tax, wage and social debts +€3,120
up €3,120 (+47.4%), from €6,589 to €9,709
- Reserves +€1,903
up €1,903 (+6.5%), from €29,479 to €31,383
- Debts after one year +€1,819
up €1,819 (+14.3%), from €12,686 to €14,505
- Provisions +€28,688
new in 2025: €28,688
- Gross operating margin +€18,791
up €18,791 (+114%), from €16,463 to €35,254
- Taxes -€2,997
down €2,997 (-70.5%), from €4,252 to €1,255
- Depreciation +€666
up €666 (+36.7%), from €1,815 to €2,482
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 | €70,660 | €95,950 | +€25,290 | +35.8% |
| Fixed assets | 21/28 | €52,584 | €61,988 | +€9,404 | +17.9% |
| Tangible fixed assets | 22/27 | €2,584 | €11,988 | +€9,404 | +364% |
| Furniture and vehicles | 24 | €2,584 | €11,988 | +€9,404 | +364% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €18,076 | €33,962 | +€15,886 | +87.9% |
| Amounts receivable within one year | 40/41 | €10,305 | €25,238 | +€14,933 | +145% |
| Trade receivables | 40 | €10,034 | €19,427 | +€9,393 | +93.6% |
| Other amounts receivable | 41 | €271 | €5,810 | +€5,540 | +2,048% |
| Cash at bank and in hand | 54/58 | €4,862 | €4,478 | -€384 | -7.9% |
| Deferred charges and accrued income | 490/1 | €2,909 | €4,246 | +€1,337 | +46.0% |
| Total equity and liabilities | 10/49 | €70,660 | €95,950 | +€25,290 | +35.8% |
| Equity | 10/15 | €30,979 | €32,883 | +€1,903 | +6.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €29,479 | €31,383 | +€1,903 | +6.5% |
| Distributable reserves | 133 | €29,479 | €31,383 | +€1,903 | +6.5% |
| Provisions and deferred taxes | 16 | - | €28,688 | +€28,688 | |
| Provisions for liabilities and charges | 160/5 | - | €28,688 | +€28,688 | |
| Other liabilities and charges | 164/5 | - | €28,688 | +€28,688 | |
| Amounts payable | 17/49 | €39,680 | €34,379 | -€5,302 | -13.4% |
| Amounts payable after more than one year | 17 | €12,686 | €14,505 | +€1,819 | +14.3% |
| Financial debts | 170/4 | €12,686 | €14,505 | +€1,819 | +14.3% |
| Amounts payable within one year | 42/48 | €26,994 | €19,874 | -€7,120 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €4,452 | €4,235 | -€217 | -4.9% |
| Financial debts | 43 | €68 | €1,751 | +€1,683 | +2,465% |
| Credit institutions | 430/8 | €68 | €1,751 | +€1,683 | +2,465% |
| Trade debts | 44 | €4,595 | €4,178 | -€417 | -9.1% |
| Suppliers | 440/4 | €4,595 | €4,178 | -€417 | -9.1% |
| Taxes, remuneration and social security | 45 | €6,589 | €9,709 | +€3,120 | +47.4% |
| Taxes | 450/3 | €6,589 | €9,709 | +€3,120 | +47.4% |
| Other amounts payable | 47/48 | €11,291 | €0 | -€11,291 | -100% |
| Non-recurring operating income | 76A | €217 | €0 | -€217 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,815 | €2,482 | +€666 | +36.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €28,688 | +€28,688 | |
| Other operating charges | 640/8 | €724 | €412 | -€312 | -43.1% |
| Gross operating margin | 9900 | €16,463 | €35,254 | +€18,791 | +114% |
| Operating profit (loss) | 9901 | €13,923 | €3,672 | -€10,252 | -73.6% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €450 | €518 | +€68 | +15.1% |
| Recurring financial charges | 65 | €450 | €518 | +€68 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €13,473 | €3,158 | -€10,315 | -76.6% |
| Income taxes | 67/77 | €4,252 | €1,255 | -€2,997 | -70.5% |
| Profit (loss) for the period | 9904 | €9,221 | €1,903 | -€7,318 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,221 | €1,903 | -€7,318 | -79.4% |
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 16 October 2026 via checked.be.