4PORTUGAL: 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.
4PORTUGAL
Largest movements
- Cash -€35,079
down €35,079 (-56.0%), from €62,690 to €27,611
mainly Other debts (-€75,751) and Debts after one year (-€60,000)
- Tangible fixed assets -€30,231
down €30,231 (-5.8%), from €521,273 to €491,042
of which Land and buildings: -€286,699
- Stocks and contracts +€14,129
up €14,129 (+72.5%), from €19,476 to €33,605
- Profit (loss) carried forward +€77,963
up €77,963 (+183%), from €42,538 to €120,501
- Other debts -€75,751
down €75,751 (-35.0%), from €216,543 to €140,791
- Debts after one year -€60,000
down €60,000 (-50.0%), from €120,000 to €60,000
- Tax, wage and social debts +€9,460
up €9,460 (+33.4%), from €28,312 to €37,772
of which Remuneration and social security: +€12,453
- Gross operating margin +€71,065
up €71,065 (+28.1%), from €252,810 to €323,875
- Staff costs +€64,748
up €64,748 (+56.0%), from €115,573 to €180,321
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 | €661,568 | €611,332 | -€50,236 | -7.6% |
| Fixed assets | 21/28 | €544,525 | €514,294 | -€30,231 | -5.6% |
| Tangible fixed assets | 22/27 | €521,273 | €491,042 | -€30,231 | -5.8% |
| Land and buildings | 22 | €286,699 | €0 | -€286,699 | -100% |
| Plant, machinery and equipment | 23 | €144,917 | €120,949 | -€23,968 | -16.5% |
| Furniture and vehicles | 24 | €89,657 | €92,108 | +€2,451 | +2.7% |
| Other tangible fixed assets | 26 | - | €277,984 | +€277,984 | |
| Financial fixed assets | 28 | €23,252 | €23,252 | = | 0.0% |
| Current assets | 29/58 | €117,042 | €97,038 | -€20,004 | -17.1% |
| Stocks and contracts in progress | 3 | €19,476 | €33,605 | +€14,129 | +72.5% |
| Stocks | 30/36 | €19,476 | €33,605 | +€14,129 | +72.5% |
| Amounts receivable within one year | 40/41 | €693 | €3,882 | +€3,190 | +461% |
| Trade receivables | 40 | €693 | €3,882 | +€3,190 | +461% |
| Cash at bank and in hand | 54/58 | €62,690 | €27,611 | -€35,079 | -56.0% |
| Deferred charges and accrued income | 490/1 | €34,183 | €31,940 | -€2,243 | -6.6% |
| Total equity and liabilities | 10/49 | €661,568 | €611,332 | -€50,236 | -7.6% |
| Equity | 10/15 | €292,538 | €370,501 | +€77,963 | +26.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,538 | €120,501 | +€77,963 | +183% |
| Amounts payable | 17/49 | €369,030 | €240,831 | -€128,199 | -34.7% |
| Amounts payable after more than one year | 17 | €120,000 | €60,000 | -€60,000 | -50.0% |
| Other amounts payable | 178/9 | €120,000 | €60,000 | -€60,000 | -50.0% |
| Amounts payable within one year | 42/48 | €249,030 | €180,831 | -€68,199 | -27.4% |
| Trade debts | 44 | €4,176 | €2,268 | -€1,908 | -45.7% |
| Suppliers | 440/4 | €4,176 | €2,268 | -€1,908 | -45.7% |
| Taxes, remuneration and social security | 45 | €28,312 | €37,772 | +€9,460 | +33.4% |
| Taxes | 450/3 | €19,169 | €16,176 | -€2,993 | -15.6% |
| Remuneration and social security | 454/9 | €9,143 | €21,596 | +€12,453 | +136% |
| Other amounts payable | 47/48 | €216,543 | €140,791 | -€75,751 | -35.0% |
| Non-recurring operating income | 76A | €2,279 | €151 | -€2,128 | -93.4% |
| Remuneration, social security and pensions | 62 | €115,573 | €180,321 | +€64,748 | +56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,866 | €53,783 | -€83 | -0.2% |
| Other operating charges | 640/8 | €1,652 | €1,206 | -€447 | -27.0% |
| Gross operating margin | 9900 | €252,810 | €323,875 | +€71,065 | +28.1% |
| Operating profit (loss) | 9901 | €81,718 | €88,566 | +€6,847 | +8.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,700% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,700% |
| Financial charges | 65/66B | €10,198 | €10,602 | +€404 | +4.0% |
| Recurring financial charges | 65 | €10,198 | €10,602 | +€404 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €71,521 | €77,964 | +€6,443 | +9.0% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | €71,521 | €77,963 | +€6,442 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,521 | €77,963 | +€6,442 | +9.0% |
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 25 October 2026 via checked.be.