Port+: 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.
What changed
Port+
NACE 52.250, Logistics services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€491,946
2024 · €538,785-€46,839
Equity
€1.2m
2024 · €667,091+€491,946
Cash
€314,015
2024 · €299,163+€14,852
Balance sheet total
€2.0m
2024 · €1.4m+€580,474
Largest movements
Assets
- Receivables within one year +€543,043
up €543,043 (+51.7%), from €1.1m to €1.6m
of which Other amounts receivable: +€518,704
Equity and liabilities
- Profit (loss) carried forward +€491,947
up €491,947 (+137.6%), from €357,402 to €849,349
- Short-term financial debts +€105,692
new in 2025: €105,692
- Debts after one year -€100,000
down €100,000 (-66.7%), from €150,000 to €50,000
- Trade debts +€89,106
up €89,106 (+40.7%), from €219,086 to €308,192
Income statement
- Turnover +€713,623
up €713,623 (+41.4%), from €1.7m to €2.4m
- Purchases and services +€494,136
up €494,136 (+117.4%), from €420,725 to €914,861
- Gross operating margin -€44,599
down €44,599 (-2.5%), from €1.8m to €1.7m
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.
Result 2024
€538,785
Gross operating margin
-€44,599
Staff costs
-€2,959
Depreciation
+€4,068
Write-downs
-€13,710
Other operating charges
+€832
Financial income
+€12,449
Financial charges
+€6,413
Taxes
-€9,333
Result 2025
€491,946
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.
From operations
+€39,870
Investment
-€18,529
Financing
-€6,489
Cash 2024
€299,163
From operations (derived)
+€39,870
Net result for the year
+€491,946
Depreciation
+€7,296
Receivables within one year
-€543,043
Deferred charges and accrued income
-€11,346
Trade debts
+€89,106
Tax, wage and social debts
-€5,430
Accrued charges and deferred income
+€11,341
Investment (derived)
-€18,529
Investment in fixed assets (net)
-€18,529
Financing
-€6,489
Debts after one year
-€100,000
Current portion of long-term debt
-€12,181
Short-term financial debts
+€105,692
Cash 2025
€314,015
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,385,990 | €1,966,464 | +€580,474 | +41.9% |
| Fixed assets | 21/28 | €15,476 | €26,709 | +€11,233 | +72.6% |
| Intangible fixed assets | 21 | €2,511 | €123 | -€2,388 | -95.1% |
| Tangible fixed assets | 22/27 | €12,339 | €25,960 | +€13,621 | +110.4% |
| Plant, machinery and equipment | 23 | €7,033 | €8,695 | +€1,662 | +23.6% |
| Furniture and vehicles | 24 | €3,420 | €15,431 | +€12,011 | +351.2% |
| Other tangible fixed assets | 26 | €1,886 | €1,834 | -€52 | -2.8% |
| Financial fixed assets | 28 | €626 | €626 | = | 0.0% |
| Current assets | 29/58 | €1,370,514 | €1,939,755 | +€569,241 | +41.5% |
| Amounts receivable within one year | 40/41 | €1,051,008 | €1,594,051 | +€543,043 | +51.7% |
| Trade receivables | 40 | €293,849 | €318,188 | +€24,339 | +8.3% |
| Other amounts receivable | 41 | €757,159 | €1,275,863 | +€518,704 | +68.5% |
| Cash at bank and in hand | 54/58 | €299,163 | €314,015 | +€14,852 | +5.0% |
| Deferred charges and accrued income | 490/1 | €20,343 | €31,689 | +€11,346 | +55.8% |
| Total equity and liabilities | 10/49 | €1,385,990 | €1,966,464 | +€580,474 | +41.9% |
| Equity | 10/15 | €667,091 | €1,159,037 | +€491,946 | +73.7% |
| Contributions | 10/11 | €273,526 | €273,525 | -€1 | 0.0% |
| Capital | 10 | €273,526 | €273,525 | -€1 | 0.0% |
| Issued capital | 100 | €273,526 | €273,525 | -€1 | 0.0% |
| Reserves | 13 | €36,163 | €36,163 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,163 | €36,163 | = | 0.0% |
| Legal reserve | 130 | €36,163 | €36,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | €357,402 | €849,349 | +€491,947 | +137.6% |
| Amounts payable | 17/49 | €718,899 | €807,427 | +€88,528 | +12.3% |
| Amounts payable after more than one year | 17 | €150,000 | €50,000 | -€100,000 | -66.7% |
| Other amounts payable | 178/9 | €150,000 | €50,000 | -€100,000 | -66.7% |
| Amounts payable within one year | 42/48 | €568,899 | €746,086 | +€177,187 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | €116,068 | €103,887 | -€12,181 | -10.5% |
| Financial debts | 43 | - | €105,692 | +€105,692 | |
| Other loans | 439 | - | €105,692 | +€105,692 | |
| Trade debts | 44 | €219,086 | €308,192 | +€89,106 | +40.7% |
| Suppliers | 440/4 | €219,086 | €308,192 | +€89,106 | +40.7% |
| Taxes, remuneration and social security | 45 | €233,745 | €228,315 | -€5,430 | -2.3% |
| Taxes | 450/3 | €43,379 | €31,823 | -€11,556 | -26.6% |
| Remuneration and social security | 454/9 | €190,366 | €196,492 | +€6,126 | +3.2% |
| Accrued charges and deferred income | 492/3 | - | €11,341 | +€11,341 | |
| Turnover | 70 | €1,722,015 | €2,435,638 | +€713,623 | +41.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €420,725 | €914,861 | +€494,136 | +117.4% |
| Remuneration, social security and pensions | 62 | €1,191,202 | €1,194,161 | +€2,959 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,364 | €7,296 | -€4,068 | -35.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,710 | +€13,710 | |
| Other operating charges | 640/8 | €1,733 | €901 | -€832 | -48.0% |
| Gross operating margin | 9900 | €1,752,385 | €1,707,786 | -€44,599 | -2.5% |
| Operating profit (loss) | 9901 | €548,086 | €491,718 | -€56,368 | -10.3% |
| Financial income | 75/76B | €9,763 | €22,212 | +€12,449 | +127.5% |
| Recurring financial income | 75 | €9,763 | €22,212 | +€12,449 | +127.5% |
| Financial charges | 65/66B | €18,676 | €12,263 | -€6,413 | -34.3% |
| Recurring financial charges | 65 | €18,676 | €12,263 | -€6,413 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €539,173 | €501,667 | -€37,506 | -7.0% |
| Income taxes | 67/77 | €388 | €9,721 | +€9,333 | +2405.4% |
| Profit (loss) for the period | 9904 | €538,785 | €491,946 | -€46,839 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €538,785 | €491,946 | -€46,839 | -8.7% |
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 4 October 2026 via checked.be.