POLYTEX: 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.
What changed
POLYTEX
NACE 96.101, Personal service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€284,694
2024 · €512,118-€227,424
Equity
€3.4m
2024 · €3.2m+€280,873
Cash
€323,013
2024 · €249,058+€73,956
Balance sheet total
€7.6m
2024 · €6.6m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+59.9%), from €3.3m to €5.2m
of which Plant, machinery and equipment: +€1.8m
- Receivables after one year -€1.1m
down €1.1m (-80.3%), from €1.3m to €259,174
Equity and liabilities
- Reserves +€284,694
up €284,694 (+9.2%), from €3.1m to €3.4m
of which Distributable reserves: +€284,694
- Current portion of long-term debt +€281,906
up €281,906 (+43.0%), from €655,735 to €937,641
- Debts after one year +€238,704
up €238,704 (+12.5%), from €1.9m to €2.1m
- Short-term financial debts +€122,781
new in 2025: €122,781
Income statement
- Gross operating margin +€437,673
up €437,673 (+10.7%), from €4.1m to €4.5m
- Depreciation +€366,669
up €366,669 (+39.3%), from €933,416 to €1.3m
- Staff costs +€325,356
up €325,356 (+14.3%), from €2.3m to €2.6m
- Taxes -€125,891
down €125,891 (-80.8%), from €155,793 to €29,901
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.
Result 2024
€512,118
Gross operating margin
+€437,673
Staff costs
-€325,356
Depreciation
-€366,669
Write-downs
-€42,573
Other operating charges
-€22,035
Financial income
-€14,727
Financial charges
-€19,628
Taxes
+€125,891
Result 2025
€284,694
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.
From operations
+€2.7m
Investment
-€3.3m
Financing
+€639,570
Cash 2024
€249,058
From operations (derived)
+€2.7m
Net result for the year
+€284,694
Depreciation
+€1.3m
Receivables after one year
+€1.1m
Stocks and contracts
+€59,500
Receivables within one year
-€50,534
Smaller working-capital items
+€11,080
Trade debts
+€17,587
Tax, wage and social debts
+€54,001
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€3.3m
Financing
+€639,570
Debts after one year
+€238,704
Current portion of long-term debt
+€281,906
Short-term financial debts
+€122,781
Contributions, distributions and other
-€3,821
Cash 2025
€323,013
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,593,798 | €7,603,467 | +€1.0m | +15.3% |
| Formation expenses | 20 | €12,105 | €10,428 | -€1,677 | -13.9% |
| Fixed assets | 21/28 | €3,276,999 | €5,278,224 | +€2.0m | +61.1% |
| Intangible fixed assets | 21 | €576 | €41,597 | +€41,021 | +7124.2% |
| Tangible fixed assets | 22/27 | €3,271,587 | €5,229,791 | +€2.0m | +59.9% |
| Land and buildings | 22 | €254,304 | €184,441 | -€69,863 | -27.5% |
| Plant, machinery and equipment | 23 | €2,766,682 | €4,595,744 | +€1.8m | +66.1% |
| Furniture and vehicles | 24 | €123,866 | €357,469 | +€233,603 | +188.6% |
| Leasing and similar rights | 25 | €126,734 | €92,136 | -€34,598 | -27.3% |
| Financial fixed assets | 28 | €4,837 | €6,837 | +€2,000 | +41.4% |
| Current assets | 29/58 | €3,304,694 | €2,314,815 | -€989,879 | -30.0% |
| Amounts receivable after more than one year | 29 | €1,316,778 | €259,174 | -€1.1m | -80.3% |
| Trade receivables | 290 | €1,316,778 | €259,174 | -€1.1m | -80.3% |
| Stocks and contracts in progress | 3 | €532,979 | €473,479 | -€59,500 | -11.2% |
| Stocks | 30/36 | €532,979 | €473,479 | -€59,500 | -11.2% |
| Amounts receivable within one year | 40/41 | €1,194,561 | €1,245,095 | +€50,534 | +4.2% |
| Trade receivables | 40 | €1,194,015 | €1,124,348 | -€69,666 | -5.8% |
| Other amounts receivable | 41 | €547 | €120,746 | +€120,200 | +21990.0% |
| Cash at bank and in hand | 54/58 | €249,058 | €323,013 | +€73,956 | +29.7% |
| Deferred charges and accrued income | 490/1 | €11,318 | €14,054 | +€2,736 | +24.2% |
| Total equity and liabilities | 10/49 | €6,593,798 | €7,603,467 | +€1.0m | +15.3% |
| Equity | 10/15 | €3,165,480 | €3,446,354 | +€280,873 | +8.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,096,986 | €3,381,680 | +€284,694 | +9.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €3,034,536 | €3,319,230 | +€284,694 | +9.4% |
| Investment grants | 15 | €6,494 | €2,674 | -€3,821 | -58.8% |
| Amounts payable | 17/49 | €3,428,318 | €4,157,113 | +€728,796 | +21.3% |
| Amounts payable after more than one year | 17 | €1,911,091 | €2,149,795 | +€238,704 | +12.5% |
| Financial debts | 170/4 | €1,911,091 | €2,149,795 | +€238,704 | +12.5% |
| Amounts payable within one year | 42/48 | €1,488,503 | €1,971,279 | +€482,776 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €655,735 | €937,641 | +€281,906 | +43.0% |
| Financial debts | 43 | - | €122,781 | +€122,781 | |
| Credit institutions | 430/8 | - | €122,781 | +€122,781 | |
| Trade debts | 44 | €414,258 | €431,845 | +€17,587 | +4.2% |
| Suppliers | 440/4 | €414,258 | €431,845 | +€17,587 | +4.2% |
| Taxes, remuneration and social security | 45 | €416,546 | €470,547 | +€54,001 | +13.0% |
| Taxes | 450/3 | €165,093 | €177,052 | +€11,959 | +7.2% |
| Remuneration and social security | 454/9 | €251,453 | €293,495 | +€42,042 | +16.7% |
| Other amounts payable | 47/48 | €1,964 | €8,465 | +€6,501 | +331.1% |
| Accrued charges and deferred income | 492/3 | €28,724 | €36,039 | +€7,315 | +25.5% |
| Non-recurring operating income | 76A | - | €95,000 | +€95,000 | |
| Remuneration, social security and pensions | 62 | €2,278,568 | €2,603,924 | +€325,356 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933,416 | €1,300,085 | +€366,669 | +39.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€32,019 | €10,555 | +€42,573 | |
| Other operating charges | 640/8 | €184,306 | €206,341 | +€22,035 | +12.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,086,671 | €4,524,343 | +€437,673 | +10.7% |
| Operating profit (loss) | 9901 | €722,399 | €403,439 | -€318,960 | -44.2% |
| Financial income | 75/76B | €37,769 | €23,042 | -€14,727 | -39.0% |
| Recurring financial income | 75 | €37,769 | €23,042 | -€14,727 | -39.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €92,257 | €111,885 | +€19,628 | +21.3% |
| Recurring financial charges | 65 | €92,257 | €111,885 | +€19,628 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €667,911 | €314,596 | -€353,315 | -52.9% |
| Income taxes | 67/77 | €155,793 | €29,901 | -€125,891 | -80.8% |
| Profit (loss) for the period | 9904 | €512,118 | €284,694 | -€227,424 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €512,118 | €284,694 | -€227,424 | -44.4% |
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 29 September 2026 via checked.be.