POULAIN: 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.
POULAIN
Largest movements
- Tangible fixed assets +€477,295
up €477,295 (+121.8%), from €391,857 to €869,151
of which Land and buildings: +€489,935
- Receivables within one year +€98,303
up €98,303 (+63.6%), from €154,543 to €252,846
of which Other amounts receivable: +€97,108
- Receivables after one year -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Stocks and contracts -€24,187
down €24,187 (-78.7%), from €30,718 to €6,531
- Cash -€11,660
down €11,660 (-24.5%), from €47,540 to €35,879
mainly Investment in fixed assets (net) (-€494,753) and Receivables within one year (-€98,303)
- Reserves +€309,314
up €309,314 (+451.0%), from €68,591 to €377,905
of which Tax-exempt reserves: +€309,314
- Other debts +€208,382
up €208,382 (+12252.5%), from €1,701 to €210,082
- Profit (loss) carried forward -€113,434
down €113,434 (-28.2%), from €402,871 to €289,437
- Provisions +€103,105
new in 2025: €103,105
- Gross operating margin +€417,023
up €417,023, from -€9,736 to €407,287
- Staff costs +€7,145
new in 2025: €7,145
- Financial charges +€5,186
up €5,186 (+1622.9%), from €320 to €5,506
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 | €666,135 | €1,165,249 | +€499,114 | +74.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €391,907 | €869,201 | +€477,295 | +121.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €391,857 | €869,151 | +€477,295 | +121.8% |
| Land and buildings | 22 | €353,937 | €843,872 | +€489,935 | +138.4% |
| Plant, machinery and equipment | 23 | €0 | €278 | +€278 | |
| Furniture and vehicles | 24 | €37,920 | €25,002 | -€12,918 | -34.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €274,228 | €296,048 | +€21,820 | +8.0% |
| Amounts receivable after more than one year | 29 | €40,000 | €0 | -€40,000 | -100.0% |
| Other amounts receivable | 291 | €40,000 | €0 | -€40,000 | -100.0% |
| Stocks and contracts in progress | 3 | €30,718 | €6,531 | -€24,187 | -78.7% |
| Stocks | 30/36 | €30,718 | €6,531 | -€24,187 | -78.7% |
| Amounts receivable within one year | 40/41 | €154,543 | €252,846 | +€98,303 | +63.6% |
| Trade receivables | 40 | €0 | €1,195 | +€1,195 | |
| Other amounts receivable | 41 | €154,543 | €251,650 | +€97,108 | +62.8% |
| Cash at bank and in hand | 54/58 | €47,540 | €35,879 | -€11,660 | -24.5% |
| Deferred charges and accrued income | 490/1 | €1,428 | €792 | -€636 | -44.6% |
| Total equity and liabilities | 10/49 | €666,135 | €1,165,249 | +€499,114 | +74.9% |
| Equity | 10/15 | €652,094 | €847,974 | +€195,880 | +30.0% |
| Contributions | 10/11 | €180,632 | €180,632 | = | 0.0% |
| Capital | 10 | €180,632 | €180,632 | = | 0.0% |
| Issued capital | 100 | €180,632 | €180,632 | = | 0.0% |
| Reserves | 13 | €68,591 | €377,905 | +€309,314 | +451.0% |
| Non-distributable reserves | 130/1 | €18,063 | €18,063 | = | 0.0% |
| Legal reserve | 130 | €18,063 | €18,063 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €309,314 | +€309,314 | |
| Distributable reserves | 133 | €50,527 | €50,527 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,871 | €289,437 | -€113,434 | -28.2% |
| Provisions and deferred taxes | 16 | - | €103,105 | +€103,105 | |
| Deferred taxes | 168 | - | €103,105 | +€103,105 | |
| Amounts payable | 17/49 | €14,041 | €214,170 | +€200,129 | +1425.4% |
| Amounts payable within one year | 42/48 | €12,977 | €213,003 | +€200,026 | +1541.4% |
| Trade debts | 44 | €10,089 | €232 | -€9,857 | -97.7% |
| Suppliers | 440/4 | €10,089 | €232 | -€9,857 | -97.7% |
| Taxes, remuneration and social security | 45 | €1,187 | €2,688 | +€1,501 | +126.5% |
| Taxes | 450/3 | €1,187 | €2,688 | +€1,501 | +126.5% |
| Other amounts payable | 47/48 | €1,701 | €210,082 | +€208,382 | +12252.5% |
| Accrued charges and deferred income | 492/3 | €1,064 | €1,167 | +€104 | +9.7% |
| Non-recurring operating income | 76A | €484 | - | -€484 | |
| Remuneration, social security and pensions | 62 | - | €7,145 | +€7,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,218 | €17,459 | +€1,241 | +7.7% |
| Other operating charges | 640/8 | €2,763 | €3,027 | +€264 | +9.6% |
| Non-recurring operating charges | 66A | - | €74,056 | +€74,056 | |
| Gross operating margin | 9900 | -€9,736 | €407,287 | +€417,023 | |
| Operating profit (loss) | 9901 | -€28,717 | €305,601 | +€334,318 | |
| Financial income | 75/76B | €2,553 | €7 | -€2,545 | -99.7% |
| Recurring financial income | 75 | €2,553 | €7 | -€2,545 | -99.7% |
| Financial charges | 65/66B | €320 | €5,506 | +€5,186 | +1622.9% |
| Recurring financial charges | 65 | €320 | €5,506 | +€5,186 | +1622.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,484 | €300,102 | +€326,586 | |
| Transfer to deferred taxes | 680 | - | €103,105 | +€103,105 | |
| Income taxes | 67/77 | €934 | €1,117 | +€184 | +19.7% |
| Profit (loss) for the period | 9904 | -€27,418 | €195,880 | +€223,298 | |
| Transfer to tax-exempt reserves | 689 | - | €309,314 | +€309,314 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,418 | -€113,434 | -€86,016 | -313.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.