POLYWORKS CONCEPTS: 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.
POLYWORKS CONCEPTS
Largest movements
- Cash +€59,524
up €59,524 (+57.1%), from €104,201 to €163,725
mainly Stocks and contracts (+€24,807) and Depreciation (+€21,193)
- Stocks and contracts -€24,807
down €24,807 (-12.9%), from €191,579 to €166,772
- Receivables within one year -€12,148
down €12,148 (-6.8%), from €178,361 to €166,213
of which Trade receivables: -€10,803
- Tangible fixed assets -€10,669
down €10,669 (-29.0%), from €36,827 to €26,158
of which Furniture and vehicles: -€9,518
- Financial fixed assets -€8,900
down €8,900 (-24.6%), from €36,226 to €27,326
- Trade debts -€21,623
down €21,623 (-17.6%), from €122,720 to €101,097
- Profit (loss) carried forward +€20,090
up €20,090 (+9.3%), from €216,970 to €237,059
- Tax, wage and social debts +€14,820
up €14,820 (+26.5%), from €55,939 to €70,759
of which Taxes: +€18,510
- Debts after one year -€8,248
down €8,248 (-75.1%), from €10,988 to €2,740
- Other debts -€8,080
down €8,080 (-21.7%), from €37,182 to €29,103
- Financial charges -€768,111
down €768,111 (-98.0%), from €783,928 to €15,816
of which Non-recurring financial charges: -€769,474
- Staff costs +€41,891
up €41,891 (+12.5%), from €334,952 to €376,843
- Gross operating margin +€35,331
up €35,331 (+8.5%), from €414,195 to €449,526
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 | €575,161 | €568,979 | -€6,181 | -1.1% |
| Fixed assets | 21/28 | €89,250 | €64,793 | -€24,458 | -27.4% |
| Intangible fixed assets | 21 | €16,197 | €11,309 | -€4,888 | -30.2% |
| Tangible fixed assets | 22/27 | €36,827 | €26,158 | -€10,669 | -29.0% |
| Plant, machinery and equipment | 23 | €17,581 | €15,042 | -€2,539 | -14.4% |
| Furniture and vehicles | 24 | €18,967 | €9,449 | -€9,518 | -50.2% |
| Other tangible fixed assets | 26 | €279 | €1,667 | +€1,387 | +497% |
| Financial fixed assets | 28 | €36,226 | €27,326 | -€8,900 | -24.6% |
| Current assets | 29/58 | €485,910 | €504,187 | +€18,276 | +3.8% |
| Stocks and contracts in progress | 3 | €191,579 | €166,772 | -€24,807 | -12.9% |
| Stocks | 30/36 | €191,579 | €166,772 | -€24,807 | -12.9% |
| Amounts receivable within one year | 40/41 | €178,361 | €166,213 | -€12,148 | -6.8% |
| Trade receivables | 40 | €172,738 | €161,935 | -€10,803 | -6.3% |
| Other amounts receivable | 41 | €5,623 | €4,278 | -€1,345 | -23.9% |
| Cash at bank and in hand | 54/58 | €104,201 | €163,725 | +€59,524 | +57.1% |
| Deferred charges and accrued income | 490/1 | €11,769 | €7,477 | -€4,292 | -36.5% |
| Total equity and liabilities | 10/49 | €575,161 | €568,979 | -€6,181 | -1.1% |
| Equity | 10/15 | €304,970 | €325,059 | +€20,090 | +6.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,970 | €237,059 | +€20,090 | +9.3% |
| Amounts payable | 17/49 | €270,191 | €243,920 | -€26,271 | -9.7% |
| Amounts payable after more than one year | 17 | €10,988 | €2,740 | -€8,248 | -75.1% |
| Financial debts | 170/4 | €10,988 | €2,740 | -€8,248 | -75.1% |
| Amounts payable within one year | 42/48 | €259,203 | €241,180 | -€18,023 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €43,242 | €40,221 | -€3,021 | -7.0% |
| Financial debts | 43 | €119 | - | -€119 | |
| Other loans | 439 | €119 | - | -€119 | |
| Trade debts | 44 | €122,720 | €101,097 | -€21,623 | -17.6% |
| Suppliers | 440/4 | €122,720 | €101,097 | -€21,623 | -17.6% |
| Taxes, remuneration and social security | 45 | €55,939 | €70,759 | +€14,820 | +26.5% |
| Taxes | 450/3 | €12,378 | €30,888 | +€18,510 | +150% |
| Remuneration and social security | 454/9 | €43,561 | €39,871 | -€3,691 | -8.5% |
| Other amounts payable | 47/48 | €37,182 | €29,103 | -€8,080 | -21.7% |
| Non-recurring operating income | 76A | €15,000 | €10,572 | -€4,428 | -29.5% |
| Remuneration, social security and pensions | 62 | €334,952 | €376,843 | +€41,891 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,334 | €21,193 | -€1,142 | -5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,233 | +€3,233 | |
| Other operating charges | 640/8 | €1,291 | €1,512 | +€222 | +17.2% |
| Non-recurring operating charges | 66A | €1,250 | €3,125 | +€1,875 | +150% |
| Gross operating margin | 9900 | €414,195 | €449,526 | +€35,331 | +8.5% |
| Operating profit (loss) | 9901 | €54,368 | €43,620 | -€10,748 | -19.8% |
| Financial income | 75/76B | €148 | €1,734 | +€1,586 | +1,070% |
| Recurring financial income | 75 | €148 | €1,734 | +€1,586 | +1,070% |
| Financial charges | 65/66B | €783,928 | €15,816 | -€768,111 | -98.0% |
| Recurring financial charges | 65 | €5,554 | €6,916 | +€1,363 | +24.5% |
| Non-recurring financial charges | 66B | €778,374 | €8,900 | -€769,474 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | -€729,411 | €29,538 | +€758,949 | |
| Income taxes | 67/77 | €10,904 | €9,448 | -€1,455 | -13.3% |
| Profit (loss) for the period | 9904 | -€740,315 | €20,090 | +€760,405 | |
| Profit (loss) for the period to be appropriated | 9905 | -€740,315 | €20,090 | +€760,405 |
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.