We discuss the development and assessment of a robust numerical algorithm for simulating multiphase flows with complex interfaces and high density ratios on arbitrary polygonal meshes. The algorithm combines the volume-of-fluid method with an incremental projection approach for incompressible multiphase flows in a novel hybrid staggered/non-staggered framework. The key principles that characterise the algorithm are the consistent treatment of discrete mass and momentum transport and the similar discretisation of force terms appearing in the momentum equation. The former is achieved by invoking identical schemes for convective transport of volume fraction and momentum in the respective discrete equations while the latter is realised by representing the gravity and surface tension terms as gradients of suitable scalars which are then discretised in identical fashion resulting in a balanced formulation. The hybrid staggered/non-staggered framework employed herein solves for the scalar normal momentum at the cell faces, while the volume fraction is computed at the cell centroids. This is shown to naturally lead to similar terms for pressure and its correction in the momentum and pressure correction equations respectively, which are again treated discretely in a similar manner. We show that spurious currents that corrupt the solution may arise both from an unbalanced formulation where forces (gravity and surface tension) are discretised in dissimilar manner and from an inconsistent approach where different schemes are used to convect the mass and momentum, with the latter prominent in flows which are convection-dominant with high density ratios. Interestingly, the inconsistent approach is shown to perform as well as the consistent approach even for high density ratio flows in some cases while it exhibits anomalous behaviour for other scenarios, even at low density ratios. Using a plethora of test problems of increasing complexity, we conclusively demonstrate that the consistent transport and balanced force treatment results in a numerically stable solution procedure and physically consistent results. The algorithm proposed in this study qualifies as a robust approach to simulate multiphase flows with high density ratios on unstructured meshes and may be realised in existing flow solvers with relative ease. © 2017 Elsevier Inc.