Polymorf: what changed
Two fiscal 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.
Polymorf
Largest movements
- Current investments -€250,000
down €250,000 (-55.6%), from €450,000 to €200,000
- Tangible fixed assets +€114,178
up €114,178 (+5.3%), from €2.1m to €2.3m
- Reserves -€194,125
down €194,125 (-15.4%), from €1.3m to €1.1m
of which Distributable reserves: -€119,325
- Profit (loss) carried forward +€45,337
up €45,337 (+8.3%), from -€549,299 to -€503,962
- Depreciation +€40,562
up €40,562 (+32.7%), from €124,060 to €164,622
- Financial charges -€27,907
down €27,907 (-97.4%), from €28,650 to €743
- Gross operating margin +€16,563
up €16,563, from -€5,168 to €11,396
- Financial income -€15,468
down €15,468 (-72.9%), from €21,211 to €5,743
- Other operating charges +€1,485
up €1,485 (+6.2%), from €24,011 to €25,496
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 | €2,720,279 | €2,560,616 | -€159,663 | -5.9% |
| Fixed assets | 21/28 | €2,143,098 | €2,257,276 | +€114,178 | +5.3% |
| Tangible fixed assets | 22/27 | €2,143,098 | €2,257,276 | +€114,178 | +5.3% |
| Land and buildings | 22 | €2,143,098 | €2,257,276 | +€114,178 | +5.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €577,181 | €303,340 | -€273,841 | -47.4% |
| Amounts receivable within one year | 40/41 | €1,928 | €1,723 | -€205 | -10.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,928 | €1,723 | -€205 | -10.6% |
| Current investments | 50/53 | €450,000 | €200,000 | -€250,000 | -55.6% |
| Cash at bank and in hand | 54/58 | €124,362 | €100,871 | -€23,491 | -18.9% |
| Deferred charges and accrued income | 490/1 | €892 | €746 | -€146 | -16.3% |
| Total equity and liabilities | 10/49 | €2,720,279 | €2,560,616 | -€159,663 | -5.9% |
| Equity | 10/15 | €2,333,637 | €2,184,848 | -€148,789 | -6.4% |
| Contributions | 10/11 | €1,624,501 | €1,624,501 | = | 0.0% |
| Capital | 10 | €1,624,501 | €1,624,501 | = | 0.0% |
| Issued capital | 100 | €1,624,501 | €1,624,501 | = | 0.0% |
| Reserves | 13 | €1,258,435 | €1,064,309 | -€194,125 | -15.4% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,126,714 | €1,051,915 | -€74,800 | -6.6% |
| Distributable reserves | 133 | €119,325 | €0 | -€119,325 | -100.0% |
| Profit (loss) carried forward | 14 | -€549,299 | -€503,962 | +€45,337 | +8.3% |
| Provisions and deferred taxes | 16 | €375,572 | €350,638 | -€24,933 | -6.6% |
| Deferred taxes | 168 | €375,572 | €350,638 | -€24,933 | -6.6% |
| Amounts payable | 17/49 | €11,071 | €25,130 | +€14,059 | +127.0% |
| Amounts payable after more than one year | 17 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 170/4 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,071 | €19,666 | +€13,595 | +223.9% |
| Trade debts | 44 | €2,615 | €16,208 | +€13,593 | +519.8% |
| Suppliers | 440/4 | €2,615 | €16,208 | +€13,593 | +519.8% |
| Advances received on contracts in progress | 46 | €3,331 | €3,364 | +€34 | +1.0% |
| Taxes, remuneration and social security | 45 | €125 | €94 | -€31 | -25.0% |
| Taxes | 450/3 | €125 | €94 | -€31 | -25.0% |
| Accrued charges and deferred income | 492/3 | - | €464 | +€464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,060 | €164,622 | +€40,562 | +32.7% |
| Other operating charges | 640/8 | €24,011 | €25,496 | +€1,485 | +6.2% |
| Gross operating margin | 9900 | -€5,168 | €11,396 | +€16,563 | |
| Operating profit (loss) | 9901 | -€153,238 | -€178,722 | -€25,484 | -16.6% |
| Financial income | 75/76B | €21,211 | €5,743 | -€15,468 | -72.9% |
| Recurring financial income | 75 | €21,211 | €5,743 | -€15,468 | -72.9% |
| Financial charges | 65/66B | €28,650 | €743 | -€27,907 | -97.4% |
| Recurring financial charges | 65 | €28,650 | €743 | -€27,907 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | -€160,677 | -€173,722 | -€13,045 | -8.1% |
| Transfer from deferred taxes | 780 | €24,933 | €24,933 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€135,744 | -€148,789 | -€13,045 | -9.6% |
| Transfer from tax-exempt reserves | 789 | €74,800 | €74,800 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,944 | -€73,989 | -€13,045 | -21.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.