Project Polly: 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.
Project Polly
Largest movements
- Tangible fixed assets +€13,889
up €13,889 (+43.9%), from €31,619 to €45,509
of which Furniture and vehicles: +€10,723
- Receivables within one year +€4,541
new in 2025: €4,541
of which Other amounts receivable: +€4,094
- Financial fixed assets -€1,900
no longer reported in 2025 (was €1,900)
- Cash -€1,217
down €1,217 (-2.6%), from €47,135 to €45,919
mainly Investment in fixed assets (net) (-€19,526) and Receivables within one year (-€4,541)
- Current portion of long-term debt +€9,047
up €9,047 (+272%), from €3,324 to €12,371
- Reserves +€5,361
up €5,361 (+52.5%), from €10,211 to €15,571
- Debts after one year -€4,273
down €4,273 (-10.2%), from €42,002 to €37,729
- Trade debts +€2,551
up €2,551 (+65.1%), from €3,917 to €6,468
- Tax, wage and social debts +€2,050
up €2,050 (+10.8%), from €18,995 to €21,045
of which Taxes: +€3,246
- Gross operating margin +€68,239
up €68,239 (+131%), from €51,912 to €120,151
- Staff costs +€62,003
up €62,003 (+181%), from €34,310 to €96,313
- Depreciation +€5,712
up €5,712 (+313%), from €1,825 to €7,537
- Financial charges +€3,142
up €3,142 (+110%), from €2,859 to €6,000
- Other operating charges +€1,889
up €1,889 (+308%), from €612 to €2,501
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 | €80,655 | €95,997 | +€15,343 | +19.0% |
| Fixed assets | 21/28 | €33,519 | €45,509 | +€11,989 | +35.8% |
| Tangible fixed assets | 22/27 | €31,619 | €45,509 | +€13,889 | +43.9% |
| Plant, machinery and equipment | 23 | €20,521 | €20,695 | +€174 | +0.8% |
| Furniture and vehicles | 24 | €6,874 | €17,597 | +€10,723 | +156% |
| Other tangible fixed assets | 26 | €4,225 | €7,217 | +€2,992 | +70.8% |
| Financial fixed assets | 28 | €1,900 | - | -€1,900 | |
| Current assets | 29/58 | €47,135 | €50,489 | +€3,353 | +7.1% |
| Amounts receivable within one year | 40/41 | - | €4,541 | +€4,541 | |
| Trade receivables | 40 | - | €447 | +€447 | |
| Other amounts receivable | 41 | - | €4,094 | +€4,094 | |
| Cash at bank and in hand | 54/58 | €47,135 | €45,919 | -€1,217 | -2.6% |
| Deferred charges and accrued income | 490/1 | - | €29 | +€29 | |
| Total equity and liabilities | 10/49 | €80,655 | €95,997 | +€15,343 | +19.0% |
| Equity | 10/15 | €12,211 | €17,571 | +€5,361 | +43.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €10,211 | €15,571 | +€5,361 | +52.5% |
| Distributable reserves | 133 | €10,211 | €15,571 | +€5,361 | +52.5% |
| Amounts payable | 17/49 | €68,444 | €78,426 | +€9,982 | +14.6% |
| Amounts payable after more than one year | 17 | €42,002 | €37,729 | -€4,273 | -10.2% |
| Financial debts | 170/4 | €42,002 | €37,729 | -€4,273 | -10.2% |
| Amounts payable within one year | 42/48 | €26,442 | €40,696 | +€14,255 | +53.9% |
| Current portion of amounts payable after more than one year | 42 | €3,324 | €12,371 | +€9,047 | +272% |
| Trade debts | 44 | €3,917 | €6,468 | +€2,551 | +65.1% |
| Suppliers | 440/4 | €3,917 | €6,468 | +€2,551 | +65.1% |
| Advances received on contracts in progress | 46 | - | €813 | +€813 | |
| Taxes, remuneration and social security | 45 | €18,995 | €21,045 | +€2,050 | +10.8% |
| Taxes | 450/3 | €7,296 | €10,541 | +€3,246 | +44.5% |
| Remuneration and social security | 454/9 | €11,699 | €10,504 | -€1,195 | -10.2% |
| Other amounts payable | 47/48 | €206 | - | -€206 | |
| Remuneration, social security and pensions | 62 | €34,310 | €96,313 | +€62,003 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,825 | €7,537 | +€5,712 | +313% |
| Other operating charges | 640/8 | €612 | €2,501 | +€1,889 | +308% |
| Gross operating margin | 9900 | €51,912 | €120,151 | +€68,239 | +131% |
| Operating profit (loss) | 9901 | €15,165 | €13,800 | -€1,365 | -9.0% |
| Financial income | 75/76B | €8 | €443 | +€435 | +5,436% |
| Recurring financial income | 75 | €8 | €443 | +€435 | +5,436% |
| Financial charges | 65/66B | €2,859 | €6,000 | +€3,142 | +110% |
| Recurring financial charges | 65 | €2,859 | €6,000 | +€3,142 | +110% |
| Profit (loss) for the period before taxes | 9903 | €12,314 | €8,242 | -€4,072 | -33.1% |
| Income taxes | 67/77 | €2,104 | €2,881 | +€778 | +37.0% |
| Profit (loss) for the period | 9904 | €10,211 | €5,361 | -€4,850 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,211 | €5,361 | -€4,850 | -47.5% |
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 21 October 2026 via checked.be.