POULTEC: 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.
What changed
POULTEC
NACE 46.610, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €8.2m-€6.0m
Equity
€28.1m
2024 · €25.9m+€2.2m
Cash
€5.1m
2024 · €7.7m-€2.6m
Balance sheet total
€78.9m
2024 · €65.8m+€13.1m
Largest movements
Assets
- Stocks and contracts +€9.8m
up €9.8m (+35.9%), from €27.3m to €37.1m
of which Contracts in progress: +€9.1m
- Receivables within one year +€5.9m
up €5.9m (+40.3%), from €14.6m to €20.4m
of which Trade receivables: +€5.8m
- Cash -€2.6m
down €2.6m (-33.8%), from €7.7m to €5.1m
mainly Stocks and contracts (-€9.8m) and Receivables within one year (-€5.9m)
Equity and liabilities
- Advances received +€14.4m
up €14.4m (+51.6%), from €28.0m to €42.5m
- Trade debts -€4.1m
down €4.1m (-39.7%), from €10.4m to €6.3m
- Reserves +€2.2m
up €2.2m (+9.7%), from €22.9m to €25.1m
of which Distributable reserves: +€2.2m
Income statement
- Turnover -€47.5m
down €47.5m (-55.4%), from €85.7m to €38.2m
- Goods and materials -€31.7m
down €31.7m (-46.3%), from €68.6m to €36.9m
of which Purchases: -€31.1m
- Financial income -€5.9m
down €5.9m (-98.6%), from €6.0m to €82,995
- Services and other goods +€1.2m
up €1.2m (+33.1%), from €3.7m to €4.9m
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
€8.2m
Turnover
-€47.5m
Goods and materials
+€31.7m
Services and other goods
-€1.2m
Write-downs
-€184,706
Other operating charges
-€1,001
Other operating items
+€16.2m
Financial income
-€5.9m
Financial charges
+€554,299
Taxes
+€392,826
Result 2025
€2.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.5m
Investment
€0
Financing
-€77,084
Cash 2024
€7.7m
From operations (derived)
-€2.5m
Net result for the year
+€2.2m
Stocks and contracts
-€9.8m
Receivables within one year
-€5.9m
Smaller working-capital items
-€24,075
Trade debts
-€4.1m
Tax, wage and social debts
+€330,000
Advances received
+€14.4m
Other debts
+€299,720
Financing
-€77,084
Short-term financial debts
-€77,084
Cash 2025
€5.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,813,173 | €78,891,964 | +€13.1m | +19.9% |
| Fixed assets | 21/28 | €16,146,161 | €16,146,161 | = | 0.0% |
| Financial fixed assets | 28 | €16,146,161 | €16,146,161 | = | 0.0% |
| Affiliated companies | 280/1 | €16,146,161 | €16,146,161 | = | 0.0% |
| Participating interests | 280 | €16,146,161 | €16,146,161 | = | 0.0% |
| Current assets | 29/58 | €49,667,012 | €62,745,803 | +€13.1m | +26.3% |
| Stocks and contracts in progress | 3 | €27,338,794 | €37,149,163 | +€9.8m | +35.9% |
| Stocks | 30/36 | €737,005 | €1,484,116 | +€747,111 | +101% |
| Goods purchased for resale | 34 | €737,005 | €1,484,116 | +€747,111 | +101% |
| Contracts in progress | 37 | €26,601,790 | €35,665,048 | +€9.1m | +34.1% |
| Amounts receivable within one year | 40/41 | €14,555,598 | €20,424,860 | +€5.9m | +40.3% |
| Trade receivables | 40 | €13,370,450 | €19,153,015 | +€5.8m | +43.2% |
| Other amounts receivable | 41 | €1,185,149 | €1,271,845 | +€86,697 | +7.3% |
| Cash at bank and in hand | 54/58 | €7,730,024 | €5,115,691 | -€2.6m | -33.8% |
| Deferred charges and accrued income | 490/1 | €42,595 | €56,088 | +€13,493 | +31.7% |
| Total equity and liabilities | 10/49 | €65,813,173 | €78,891,964 | +€13.1m | +19.9% |
| Equity | 10/15 | €25,915,329 | €28,140,820 | +€2.2m | +8.6% |
| Contributions | 10/11 | €3,061,500 | €3,061,500 | = | 0.0% |
| Capital | 10 | €3,061,500 | €3,061,500 | = | 0.0% |
| Issued capital | 100 | €3,061,500 | €3,061,500 | = | 0.0% |
| Reserves | 13 | €22,853,829 | €25,079,320 | +€2.2m | +9.7% |
| Non-distributable reserves | 130/1 | €306,150 | €306,150 | = | 0.0% |
| Legal reserve | 130 | €306,150 | €306,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €22,547,679 | €24,773,170 | +€2.2m | +9.9% |
| Amounts payable | 17/49 | €39,897,843 | €50,751,144 | +€10.9m | +27.2% |
| Amounts payable within one year | 42/48 | €39,883,132 | €50,747,015 | +€10.9m | +27.2% |
| Financial debts | 43 | €77,084 | - | -€77,084 | |
| Credit institutions | 430/8 | €77,084 | - | -€77,084 | |
| Trade debts | 44 | €10,431,735 | €6,294,736 | -€4.1m | -39.7% |
| Suppliers | 440/4 | €10,431,735 | €6,294,736 | -€4.1m | -39.7% |
| Advances received on contracts in progress | 46 | €28,016,597 | €42,464,841 | +€14.4m | +51.6% |
| Taxes, remuneration and social security | 45 | €1,093,283 | €1,423,283 | +€330,000 | +30.2% |
| Taxes | 450/3 | €1,093,283 | €1,423,283 | +€330,000 | +30.2% |
| Other amounts payable | 47/48 | €264,434 | €564,154 | +€299,720 | +113% |
| Accrued charges and deferred income | 492/3 | €14,711 | €4,129 | -€10,582 | -71.9% |
| Operating income | 70/76A | €76,235,508 | €44,904,989 | -€31.3m | -41.1% |
| Turnover | 70 | €85,746,920 | €38,248,101 | -€47.5m | -55.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€9,511,412 | €6,656,888 | +€16.2m | |
| Other operating income | 74 | €0 | - | = | |
| Operating charges | 60/66A | €72,239,719 | €41,910,315 | -€30.3m | -42.0% |
| Goods for resale, raw materials and consumables | 60 | €68,581,442 | €36,856,286 | -€31.7m | -46.3% |
| Purchases | 600/8 | €68,721,981 | €37,603,398 | -€31.1m | -45.3% |
| Change in stocks: decrease (increase) | 609 | -€140,539 | -€747,111 | -€606,572 | -432% |
| Services and other goods | 61 | €3,656,591 | €4,866,636 | +€1.2m | +33.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,311 | €186,016 | +€184,706 | +14,092% |
| Other operating charges | 640/8 | €375 | €1,376 | +€1,001 | +267% |
| Operating profit (loss) | 9901 | €3,995,789 | €2,994,674 | -€1.0m | -25.1% |
| Financial income | 75/76B | €5,994,779 | €82,995 | -€5.9m | -98.6% |
| Recurring financial income | 75 | €5,994,779 | €82,995 | -€5.9m | -98.6% |
| Income from current assets | 751 | €5,544,332 | €40,595 | -€5.5m | -99.3% |
| Other financial income | 752/9 | €450,447 | €42,400 | -€408,047 | -90.6% |
| Financial charges | 65/66B | €673,691 | €119,392 | -€554,299 | -82.3% |
| Recurring financial charges | 65 | €673,691 | €119,392 | -€554,299 | -82.3% |
| Debt charges | 650 | €60,676 | - | -€60,676 | |
| Other financial charges | 652/9 | €613,015 | €119,392 | -€493,623 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €9,316,877 | €2,958,278 | -€6.4m | -68.2% |
| Income taxes | 67/77 | €1,125,613 | €732,787 | -€392,826 | -34.9% |
| Taxes | 670/3 | €1,125,613 | €732,787 | -€392,826 | -34.9% |
| Profit (loss) for the period | 9904 | €8,191,264 | €2,225,491 | -€6.0m | -72.8% |
| Transfer from tax-exempt reserves | 789 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,612,264 | €2,225,491 | -€6.4m | -74.2% |
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 14 October 2026 via checked.be.