PORCINA: 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.
PORCINA
Largest movements
- Receivables within one year +€81,329
up €81,329 (+87.0%), from €93,498 to €174,827
of which Other amounts receivable: +€81,329
- Cash +€51,084
up €51,084 (+109%), from €46,825 to €97,909
mainly Net result for the year (+€148,817) and Tax, wage and social debts (+€13,146)
- Current investments +€25,734
up €25,734 (+8.7%), from €295,586 to €321,320
- Reserves +€141,181
up €141,181 (+34.7%), from €406,472 to €547,653
- Tax, wage and social debts +€13,146
up €13,146 (+66.8%), from €19,690 to €32,836
of which Taxes: +€15,362
- Financial income +€79,391
up €79,391 (+108%), from €73,394 to €152,785
- Gross operating margin -€61,323
down €61,323 (-70.8%), from €86,653 to €25,330
- Taxes -€10,659
down €10,659 (-34.0%), from €31,316 to €20,657
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 | €1,012,989 | €1,174,275 | +€161,286 | +15.9% |
| Fixed assets | 21/28 | €573,191 | €577,365 | +€4,175 | +0.7% |
| Tangible fixed assets | 22/27 | €3,551 | €7,725 | +€4,175 | +118% |
| Plant, machinery and equipment | 23 | - | €1,537 | +€1,537 | |
| Furniture and vehicles | 24 | €1,515 | €4,831 | +€3,316 | +219% |
| Other tangible fixed assets | 26 | €2,036 | €1,357 | -€679 | -33.3% |
| Financial fixed assets | 28 | €569,640 | €569,640 | = | 0.0% |
| Current assets | 29/58 | €439,798 | €596,910 | +€157,112 | +35.7% |
| Amounts receivable within one year | 40/41 | €93,498 | €174,827 | +€81,329 | +87.0% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €81,398 | €162,727 | +€81,329 | +99.9% |
| Current investments | 50/53 | €295,586 | €321,320 | +€25,734 | +8.7% |
| Cash at bank and in hand | 54/58 | €46,825 | €97,909 | +€51,084 | +109% |
| Deferred charges and accrued income | 490/1 | €3,889 | €2,853 | -€1,036 | -26.6% |
| Total equity and liabilities | 10/49 | €1,012,989 | €1,174,275 | +€161,286 | +15.9% |
| Equity | 10/15 | €976,112 | €1,117,293 | +€141,181 | +14.5% |
| Contributions | 10/11 | €569,640 | €569,640 | = | 0.0% |
| Reserves | 13 | €406,472 | €547,653 | +€141,181 | +34.7% |
| Distributable reserves | 133 | €406,472 | €547,653 | +€141,181 | +34.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,876 | €56,982 | +€20,106 | +54.5% |
| Amounts payable within one year | 42/48 | €36,589 | €55,894 | +€19,305 | +52.8% |
| Financial debts | 43 | €1,012 | €0 | -€1,012 | -100% |
| Credit institutions | 430/8 | €1,012 | €0 | -€1,012 | -100% |
| Trade debts | 44 | €10,129 | €7,806 | -€2,322 | -22.9% |
| Suppliers | 440/4 | €10,129 | €7,806 | -€2,322 | -22.9% |
| Taxes, remuneration and social security | 45 | €19,690 | €32,836 | +€13,146 | +66.8% |
| Taxes | 450/3 | €17,473 | €32,836 | +€15,362 | +87.9% |
| Remuneration and social security | 454/9 | €2,217 | €0 | -€2,217 | -100% |
| Other amounts payable | 47/48 | €5,758 | €15,252 | +€9,494 | +165% |
| Accrued charges and deferred income | 492/3 | €288 | €1,088 | +€800 | +278% |
| Non-recurring operating income | 76A | €20,855 | €0 | -€20,855 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,662 | €2,430 | +€768 | +46.2% |
| Other operating charges | 640/8 | €1,745 | €1,763 | +€18 | +1.0% |
| Gross operating margin | 9900 | €86,653 | €25,330 | -€61,323 | -70.8% |
| Operating profit (loss) | 9901 | €83,246 | €21,137 | -€62,109 | -74.6% |
| Financial income | 75/76B | €73,394 | €152,785 | +€79,391 | +108% |
| Recurring financial income | 75 | €73,394 | €152,785 | +€79,391 | +108% |
| Financial charges | 65/66B | €4,579 | €4,449 | -€130 | -2.8% |
| Recurring financial charges | 65 | €4,579 | €4,449 | -€130 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €152,061 | €169,473 | +€17,412 | +11.5% |
| Income taxes | 67/77 | €31,316 | €20,657 | -€10,659 | -34.0% |
| Profit (loss) for the period | 9904 | €120,745 | €148,817 | +€28,071 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €120,745 | €148,817 | +€28,071 | +23.2% |
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 26 October 2026 via checked.be.