Polysun: 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.
Polysun
Largest movements
- Cash -€59,768
down €59,768 (-42.7%), from €140,069 to €80,300
mainly Net result for the year (-€57,875) and Trade debts (-€47,755)
- Receivables within one year -€58,047
down €58,047 (-44.0%), from €131,851 to €73,804
of which Trade receivables: -€41,560
- Deferred charges and accrued income -€12,430
down €12,430 (-76.1%), from €16,334 to €3,904
- Intangible fixed assets -€11,282
down €11,282 (-42.1%), from €26,771 to €15,490
- Stocks and contracts +€9,016
up €9,016 (+73.0%), from €12,343 to €21,359
- Profit (loss) carried forward -€57,875
down €57,875 (-505%), from -€11,467 to -€69,343
- Trade debts -€47,755
down €47,755 (-35.0%), from €136,499 to €88,744
- Tax, wage and social debts -€18,390
down €18,390 (-44.4%), from €41,431 to €23,041
of which Taxes: -€11,672
- Other debts -€6,291
down €6,291 (-55.6%), from €11,310 to €5,019
- Gross operating margin -€25,179
down €25,179 (-12.0%), from €209,293 to €184,114
- Depreciation -€12,477
down €12,477 (-42.2%), from €29,591 to €17,114
- Staff costs +€10,349
up €10,349 (+5.2%), from €200,604 to €210,953
- Financial charges -€3,467
down €3,467 (-26.2%), from €13,215 to €9,748
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 | €333,901 | €200,792 | -€133,109 | -39.9% |
| Fixed assets | 21/28 | €33,304 | €21,425 | -€11,879 | -35.7% |
| Intangible fixed assets | 21 | €26,771 | €15,490 | -€11,282 | -42.1% |
| Tangible fixed assets | 22/27 | €6,533 | €5,935 | -€597 | -9.1% |
| Furniture and vehicles | 24 | €4,509 | €4,392 | -€117 | -2.6% |
| Other tangible fixed assets | 26 | €2,024 | €1,543 | -€481 | -23.8% |
| Current assets | 29/58 | €300,597 | €179,367 | -€121,230 | -40.3% |
| Stocks and contracts in progress | 3 | €12,343 | €21,359 | +€9,016 | +73.0% |
| Stocks | 30/36 | €12,343 | €21,359 | +€9,016 | +73.0% |
| Amounts receivable within one year | 40/41 | €131,851 | €73,804 | -€58,047 | -44.0% |
| Trade receivables | 40 | €115,287 | €73,727 | -€41,560 | -36.0% |
| Other amounts receivable | 41 | €16,563 | €77 | -€16,487 | -99.5% |
| Cash at bank and in hand | 54/58 | €140,069 | €80,300 | -€59,768 | -42.7% |
| Deferred charges and accrued income | 490/1 | €16,334 | €3,904 | -€12,430 | -76.1% |
| Total equity and liabilities | 10/49 | €333,901 | €200,792 | -€133,109 | -39.9% |
| Equity | 10/15 | €7,133 | -€50,743 | -€57,875 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,467 | -€69,343 | -€57,875 | -505% |
| Amounts payable | 17/49 | €326,768 | €251,534 | -€75,234 | -23.0% |
| Amounts payable within one year | 42/48 | €323,970 | €251,534 | -€72,436 | -22.4% |
| Financial debts | 43 | €134,730 | €134,730 | = | 0.0% |
| Credit institutions | 430/8 | €134,730 | €134,730 | = | 0.0% |
| Trade debts | 44 | €136,499 | €88,744 | -€47,755 | -35.0% |
| Suppliers | 440/4 | €136,499 | €88,744 | -€47,755 | -35.0% |
| Taxes, remuneration and social security | 45 | €41,431 | €23,041 | -€18,390 | -44.4% |
| Taxes | 450/3 | €12,635 | €964 | -€11,672 | -92.4% |
| Remuneration and social security | 454/9 | €28,796 | €22,077 | -€6,718 | -23.3% |
| Other amounts payable | 47/48 | €11,310 | €5,019 | -€6,291 | -55.6% |
| Accrued charges and deferred income | 492/3 | €2,798 | - | -€2,798 | |
| Remuneration, social security and pensions | 62 | €200,604 | €210,953 | +€10,349 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,591 | €17,114 | -€12,477 | -42.2% |
| Other operating charges | 640/8 | €4,813 | €4,359 | -€454 | -9.4% |
| Gross operating margin | 9900 | €209,293 | €184,114 | -€25,179 | -12.0% |
| Operating profit (loss) | 9901 | -€25,715 | -€48,312 | -€22,597 | -87.9% |
| Financial income | 75/76B | €410 | €185 | -€225 | -54.9% |
| Recurring financial income | 75 | €410 | €185 | -€225 | -54.9% |
| Financial charges | 65/66B | €13,215 | €9,748 | -€3,467 | -26.2% |
| Recurring financial charges | 65 | €13,215 | €9,748 | -€3,467 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | -€38,520 | -€57,875 | -€19,355 | -50.2% |
| Income taxes | 67/77 | €921 | - | -€921 | |
| Profit (loss) for the period | 9904 | -€39,442 | -€57,875 | -€18,433 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,442 | -€57,875 | -€18,433 | -46.7% |
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 13 October 2026 via checked.be.