PORMAN: 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.
PORMAN
Largest movements
- Tangible fixed assets +€229,630
up €229,630 (+126%), from €182,272 to €411,902
of which Assets under construction and advance payments: +€230,129
- Cash -€65,780
down €65,780 (-52.4%), from €125,637 to €59,857
mainly Investment in fixed assets (net) (-€230,129) and Trade debts (-€21,288)
- Deferred charges and accrued income -€5,887
down €5,887 (-95.9%), from €6,141 to €254
- Debts after one year +€171,493
up €171,493 (+117%), from €147,094 to €318,587
- Trade debts -€21,288
down €21,288 (-99.8%), from €21,330 to €43
- Current portion of long-term debt +€12,462
new in 2025: €12,462
- Financial charges +€7,307
up €7,307 (+154%), from €4,746 to €12,053
- Gross operating margin +€1,156
up €1,156 (+7.9%), from €14,553 to €15,709
- Other operating charges -€320
down €320 (-8.6%), from €3,709 to €3,389
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 | €318,298 | €480,734 | +€162,436 | +51.0% |
| Fixed assets | 21/28 | €182,272 | €411,902 | +€229,630 | +126% |
| Tangible fixed assets | 22/27 | €182,272 | €411,902 | +€229,630 | +126% |
| Land and buildings | 22 | €24,953 | €24,792 | -€161 | -0.6% |
| Furniture and vehicles | 24 | €2,367 | €2,029 | -€338 | -14.3% |
| Assets under construction and advance payments | 27 | €154,953 | €385,081 | +€230,129 | +149% |
| Current assets | 29/58 | €136,026 | €68,832 | -€67,194 | -49.4% |
| Amounts receivable within one year | 40/41 | €4,248 | €8,720 | +€4,472 | +105% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €4,248 | €3,720 | -€528 | -12.4% |
| Cash at bank and in hand | 54/58 | €125,637 | €59,857 | -€65,780 | -52.4% |
| Deferred charges and accrued income | 490/1 | €6,141 | €254 | -€5,887 | -95.9% |
| Total equity and liabilities | 10/49 | €318,298 | €480,734 | +€162,436 | +51.0% |
| Equity | 10/15 | €69,874 | €69,642 | -€232 | -0.3% |
| Contributions | 10/11 | €27,770 | €27,770 | = | 0.0% |
| Reserves | 13 | €2,777 | €2,777 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,777 | €2,777 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,777 | €2,777 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,327 | €39,095 | -€232 | -0.6% |
| Amounts payable | 17/49 | €248,424 | €411,092 | +€162,668 | +65.5% |
| Amounts payable after more than one year | 17 | €147,094 | €318,587 | +€171,493 | +117% |
| Financial debts | 170/4 | €147,094 | €318,587 | +€171,493 | +117% |
| Amounts payable within one year | 42/48 | €101,330 | €92,505 | -€8,826 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | - | €12,462 | +€12,462 | |
| Trade debts | 44 | €21,330 | €43 | -€21,288 | -99.8% |
| Suppliers | 440/4 | €21,330 | €43 | -€21,288 | -99.8% |
| Other amounts payable | 47/48 | €80,000 | €80,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €620 | €499 | -€121 | -19.5% |
| Other operating charges | 640/8 | €3,709 | €3,389 | -€320 | -8.6% |
| Gross operating margin | 9900 | €14,553 | €15,709 | +€1,156 | +7.9% |
| Operating profit (loss) | 9901 | €10,224 | €11,821 | +€1,597 | +15.6% |
| Financial charges | 65/66B | €4,746 | €12,053 | +€7,307 | +154% |
| Recurring financial charges | 65 | €4,746 | €12,053 | +€7,307 | +154% |
| Profit (loss) for the period before taxes | 9903 | €5,478 | -€232 | -€5,710 | |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | €5,478 | -€232 | -€5,710 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,478 | -€232 | -€5,710 |
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 17 October 2026 via checked.be.