POULIDOR: 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.
POULIDOR
Largest movements
- Cash +€34,916
up €34,916 (+55.3%), from €63,191 to €98,106
mainly Net result for the year (+€40,327) and Depreciation (+€16,353)
- Tangible fixed assets -€16,353
down €16,353 (-9.6%), from €170,082 to €153,729
of which Other tangible fixed assets: -€9,290
- Stocks and contracts +€7,259
up €7,259 (+135%), from €5,375 to €12,635
- Debts after one year -€33,315
down €33,315 (-19.4%), from €171,419 to €138,104
- Reserves +€27,120
new in 2025: €27,120
- Profit (loss) carried forward +€13,207
no longer reported in 2025 (was -€13,207)
- Trade debts +€11,430
up €11,430 (+47.2%), from €24,238 to €35,668
- Other debts +€4,703
up €4,703 (+86.2%), from €5,456 to €10,159
- Gross operating margin +€24,845
up €24,845 (+16.9%), from €146,585 to €171,430
- Staff costs +€20,717
up €20,717 (+23.9%), from €86,683 to €107,400
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 | €248,254 | €273,925 | +€25,671 | +10.3% |
| Fixed assets | 21/28 | €170,082 | €153,729 | -€16,353 | -9.6% |
| Tangible fixed assets | 22/27 | €170,082 | €153,729 | -€16,353 | -9.6% |
| Plant, machinery and equipment | 23 | €29,985 | €24,012 | -€5,972 | -19.9% |
| Furniture and vehicles | 24 | €1,572 | €481 | -€1,090 | -69.4% |
| Other tangible fixed assets | 26 | €138,526 | €129,236 | -€9,290 | -6.7% |
| Current assets | 29/58 | €78,172 | €120,195 | +€42,023 | +53.8% |
| Stocks and contracts in progress | 3 | €5,375 | €12,635 | +€7,259 | +135% |
| Stocks | 30/36 | €5,375 | €12,635 | +€7,259 | +135% |
| Amounts receivable within one year | 40/41 | €6,660 | €6,539 | -€122 | -1.8% |
| Trade receivables | 40 | €6,287 | €6,165 | -€122 | -1.9% |
| Other amounts receivable | 41 | €373 | €373 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €63,191 | €98,106 | +€34,916 | +55.3% |
| Deferred charges and accrued income | 490/1 | €2,946 | €2,916 | -€30 | -1.0% |
| Total equity and liabilities | 10/49 | €248,254 | €273,925 | +€25,671 | +10.3% |
| Equity | 10/15 | €1,793 | €42,120 | +€40,327 | +2,249% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €27,120 | +€27,120 | |
| Distributable reserves | 133 | - | €27,120 | +€27,120 | |
| Profit (loss) carried forward | 14 | -€13,207 | - | +€13,207 | |
| Amounts payable | 17/49 | €246,461 | €231,805 | -€14,656 | -5.9% |
| Amounts payable after more than one year | 17 | €171,419 | €138,104 | -€33,315 | -19.4% |
| Financial debts | 170/4 | €171,419 | €138,104 | -€33,315 | -19.4% |
| Amounts payable within one year | 42/48 | €75,042 | €93,701 | +€18,658 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €27,726 | €28,315 | +€588 | +2.1% |
| Trade debts | 44 | €24,238 | €35,668 | +€11,430 | +47.2% |
| Suppliers | 440/4 | €24,238 | €35,668 | +€11,430 | +47.2% |
| Taxes, remuneration and social security | 45 | €17,621 | €19,559 | +€1,938 | +11.0% |
| Taxes | 450/3 | €11,719 | €15,458 | +€3,739 | +31.9% |
| Remuneration and social security | 454/9 | €5,902 | €4,101 | -€1,801 | -30.5% |
| Other amounts payable | 47/48 | €5,456 | €10,159 | +€4,703 | +86.2% |
| Remuneration, social security and pensions | 62 | €86,683 | €107,400 | +€20,717 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,512 | €16,353 | -€1,160 | -6.6% |
| Other operating charges | 640/8 | €2,783 | €2,890 | +€107 | +3.8% |
| Gross operating margin | 9900 | €146,585 | €171,430 | +€24,845 | +16.9% |
| Operating profit (loss) | 9901 | €39,607 | €44,788 | +€5,181 | +13.1% |
| Financial income | 75/76B | - | €155 | +€155 | |
| Recurring financial income | 75 | - | €155 | +€155 | |
| Financial charges | 65/66B | €4,571 | €4,616 | +€46 | +1.0% |
| Recurring financial charges | 65 | €4,571 | €4,616 | +€46 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €35,036 | €40,327 | +€5,291 | +15.1% |
| Profit (loss) for the period | 9904 | €35,036 | €40,327 | +€5,291 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €35,036 | €40,327 | +€5,291 | +15.1% |
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 17 October 2026 via checked.be.