POLYVALENCE: 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.
POLYVALENCE
Largest movements
- Tangible fixed assets -€635
down €635 (-29.7%), from €2,141 to €1,506
- Receivables within one year -€440
down €440 (-28.0%), from €1,572 to €1,132
of which Trade receivables: -€540
- Cash -€322
down €322 (-3.3%), from €9,708 to €9,385
mainly Net result for the year (-€1,201) and Trade debts (-€213)
- Profit (loss) carried forward -€1,201
down €1,201, from €391 to -€810
- Trade debts -€213
down €213 (-48.9%), from €436 to €223
- Gross operating margin -€893
down €893 (-81.0%), from €1,103 to €210
- Depreciation +€440
up €440 (+225.6%), from €195 to €635
- Write-downs +€208
new in 2025: €208
- Taxes -€61
no longer reported in 2025 (was €61)
- Financial charges -€40
down €40 (-19.1%), from €208 to €168
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 | €13,467 | €12,023 | -€1,444 | -10.7% |
| Fixed assets | 21/28 | €2,141 | €1,506 | -€635 | -29.7% |
| Tangible fixed assets | 22/27 | €2,141 | €1,506 | -€635 | -29.7% |
| Furniture and vehicles | 24 | €2,141 | €1,506 | -€635 | -29.7% |
| Current assets | 29/58 | €11,326 | €10,517 | -€808 | -7.1% |
| Stocks and contracts in progress | 3 | €46 | - | -€46 | |
| Stocks | 30/36 | €46 | - | -€46 | |
| Amounts receivable within one year | 40/41 | €1,572 | €1,132 | -€440 | -28.0% |
| Trade receivables | 40 | €1,572 | €1,032 | -€540 | -34.3% |
| Other amounts receivable | 41 | - | €100 | +€100 | |
| Cash at bank and in hand | 54/58 | €9,708 | €9,385 | -€322 | -3.3% |
| Total equity and liabilities | 10/49 | €13,467 | €12,023 | -€1,444 | -10.7% |
| Equity | 10/15 | €12,691 | €11,490 | -€1,201 | -9.5% |
| Contributions | 10/11 | €12,300 | €12,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €391 | -€810 | -€1,201 | |
| Amounts payable | 17/49 | €776 | €533 | -€242 | -31.2% |
| Amounts payable within one year | 42/48 | €776 | €533 | -€242 | -31.2% |
| Trade debts | 44 | €436 | €223 | -€213 | -48.9% |
| Suppliers | 440/4 | €436 | €223 | -€213 | -48.9% |
| Taxes, remuneration and social security | 45 | €85 | €56 | -€29 | -34.2% |
| Taxes | 450/3 | €85 | €56 | -€29 | -34.2% |
| Other amounts payable | 47/48 | €255 | €255 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195 | €635 | +€440 | +225.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €208 | +€208 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €1,103 | €210 | -€893 | -81.0% |
| Operating profit (loss) | 9901 | €520 | -€1,033 | -€1,554 | |
| Financial charges | 65/66B | €208 | €168 | -€40 | -19.1% |
| Recurring financial charges | 65 | €208 | €168 | -€40 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €313 | -€1,201 | -€1,514 | |
| Income taxes | 67/77 | €61 | - | -€61 | |
| Profit (loss) for the period | 9904 | €251 | -€1,201 | -€1,453 | |
| Profit (loss) for the period to be appropriated | 9905 | €251 | -€1,201 | -€1,453 |
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 1 October 2026 via checked.be.