PORTABEL: 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.
PORTABEL
Largest movements
- Stocks and contracts -€9,869
down €9,869 (-11.4%), from €86,929 to €77,060
- Cash -€4,633
down €4,633 (-16.1%), from €28,829 to €24,197
mainly Net result for the year (-€25,743) and Other debts (-€10,000)
- Trade debts +€33,560
up €33,560 (+194.5%), from €17,256 to €50,816
- Profit (loss) carried forward -€25,743
down €25,743 (-14.7%), from -€175,227 to -€200,970
- Other debts -€10,000
down €10,000 (-8.3%), from €119,786 to €109,786
- Tax, wage and social debts -€9,547
down €9,547 (-35.9%), from €26,557 to €17,010
of which Taxes: -€5,698
- Staff costs -€28,724
down €28,724 (-31.4%), from €91,363 to €62,639
- Other operating charges +€22,882
up €22,882 (+14600.7%), from €157 to €23,039
- Write-downs -€12,430
down €12,430, from €9,122 to -€3,308
From the 31-12-2024 result to the 31-12-2025 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.
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,507 | €122,480 | -€13,027 | -9.6% |
| Fixed assets | 21/28 | €150 | €150 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €135,357 | €122,330 | -€13,027 | -9.6% |
| Stocks and contracts in progress | 3 | €86,929 | €77,060 | -€9,869 | -11.4% |
| Stocks | 30/36 | €86,929 | €77,060 | -€9,869 | -11.4% |
| Amounts receivable within one year | 40/41 | €18,204 | €19,397 | +€1,192 | +6.5% |
| Trade receivables | 40 | €10,600 | €10,932 | +€332 | +3.1% |
| Other amounts receivable | 41 | €7,604 | €8,465 | +€860 | +11.3% |
| Cash at bank and in hand | 54/58 | €28,829 | €24,197 | -€4,633 | -16.1% |
| Deferred charges and accrued income | 490/1 | €1,394 | €1,676 | +€283 | +20.3% |
| Total equity and liabilities | 10/49 | €135,507 | €122,480 | -€13,027 | -9.6% |
| Equity | 10/15 | -€31,511 | -€57,254 | -€25,743 | -81.7% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €25,116 | €25,116 | = | 0.0% |
| Distributable reserves | 133 | €25,116 | €25,116 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,227 | -€200,970 | -€25,743 | -14.7% |
| Amounts payable | 17/49 | €167,018 | €179,734 | +€12,716 | +7.6% |
| Amounts payable within one year | 42/48 | €163,599 | €177,612 | +€14,013 | +8.6% |
| Trade debts | 44 | €17,256 | €50,816 | +€33,560 | +194.5% |
| Suppliers | 440/4 | €17,256 | €50,816 | +€33,560 | +194.5% |
| Taxes, remuneration and social security | 45 | €26,557 | €17,010 | -€9,547 | -35.9% |
| Taxes | 450/3 | €15,792 | €10,094 | -€5,698 | -36.1% |
| Remuneration and social security | 454/9 | €10,765 | €6,916 | -€3,849 | -35.8% |
| Other amounts payable | 47/48 | €119,786 | €109,786 | -€10,000 | -8.3% |
| Accrued charges and deferred income | 492/3 | €3,419 | €2,122 | -€1,297 | -37.9% |
| Remuneration, social security and pensions | 62 | €91,363 | €62,639 | -€28,724 | -31.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,122 | -€3,308 | -€12,430 | |
| Other operating charges | 640/8 | €157 | €23,039 | +€22,882 | +14600.7% |
| Gross operating margin | 9900 | €59,528 | €59,365 | -€163 | -0.3% |
| Operating profit (loss) | 9901 | -€41,113 | -€23,004 | +€18,109 | +44.0% |
| Financial income | 75/76B | €209 | €381 | +€172 | +81.9% |
| Recurring financial income | 75 | €209 | €381 | +€172 | +81.9% |
| Financial charges | 65/66B | €2,565 | €3,119 | +€555 | +21.6% |
| Recurring financial charges | 65 | €2,565 | €3,119 | +€555 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | -€43,468 | -€25,743 | +€17,726 | +40.8% |
| Profit (loss) for the period | 9904 | -€43,468 | -€25,743 | +€17,726 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,468 | -€25,743 | +€17,726 | +40.8% |
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 5 October 2026 via checked.be.