PortaBlu: 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.
PortaBlu
Largest movements
- Receivables within one year +€25,609
up €25,609 (+50.3%), from €50,950 to €76,560
of which Other amounts receivable: +€20,103
- Deferred charges and accrued income +€15,618
up €15,618 (+25.7%), from €60,873 to €76,492
- Cash +€11,126
up €11,126 (+30.9%), from €36,018 to €47,144
mainly Net result for the year (+€61,558) and Depreciation (+€35,120)
- Tangible fixed assets +€5,888
up €5,888 (+2.4%), from €245,074 to €250,962
of which Other tangible fixed assets: +€30,141
- Reserves +€66,000
up €66,000 (+218%), from €30,322 to €96,322
- Debts after one year -€28,399
down €28,399 (-15.7%), from €180,686 to €152,287
- Tax, wage and social debts +€19,100
up €19,100 (+238%), from €8,031 to €27,132
- Advances received +€6,795
up €6,795 (+6.4%), from €105,510 to €112,305
- Gross operating margin +€51,211
up €51,211 (+66.4%), from €77,082 to €128,292
- Taxes +€16,280
up €16,280 (+199%), from €8,200 to €24,480
- Depreciation +€3,555
up €3,555 (+11.3%), from €31,565 to €35,120
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 | €392,916 | €451,158 | +€58,242 | +14.8% |
| Fixed assets | 21/28 | €245,074 | €250,962 | +€5,888 | +2.4% |
| Tangible fixed assets | 22/27 | €245,074 | €250,962 | +€5,888 | +2.4% |
| Land and buildings | 22 | €210,473 | €185,403 | -€25,070 | -11.9% |
| Furniture and vehicles | 24 | €151 | €967 | +€816 | +541% |
| Other tangible fixed assets | 26 | €34,450 | €64,591 | +€30,141 | +87.5% |
| Current assets | 29/58 | €147,842 | €200,196 | +€52,354 | +35.4% |
| Amounts receivable within one year | 40/41 | €50,950 | €76,560 | +€25,609 | +50.3% |
| Trade receivables | 40 | €21,090 | €26,597 | +€5,506 | +26.1% |
| Other amounts receivable | 41 | €29,860 | €49,963 | +€20,103 | +67.3% |
| Cash at bank and in hand | 54/58 | €36,018 | €47,144 | +€11,126 | +30.9% |
| Deferred charges and accrued income | 490/1 | €60,873 | €76,492 | +€15,618 | +25.7% |
| Total equity and liabilities | 10/49 | €392,916 | €451,158 | +€58,242 | +14.8% |
| Equity | 10/15 | €55,003 | €116,561 | +€61,558 | +112% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €30,322 | €96,322 | +€66,000 | +218% |
| Distributable reserves | 133 | €30,322 | €96,322 | +€66,000 | +218% |
| Profit (loss) carried forward | 14 | €4,680 | €238 | -€4,442 | -94.9% |
| Amounts payable | 17/49 | €337,914 | €334,597 | -€3,317 | -1.0% |
| Amounts payable after more than one year | 17 | €180,686 | €152,287 | -€28,399 | -15.7% |
| Financial debts | 170/4 | €180,686 | €152,287 | -€28,399 | -15.7% |
| Amounts payable within one year | 42/48 | €157,228 | €182,310 | +€25,082 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €27,871 | €28,399 | +€528 | +1.9% |
| Trade debts | 44 | €4,697 | €4,956 | +€259 | +5.5% |
| Suppliers | 440/4 | €4,697 | €4,956 | +€259 | +5.5% |
| Advances received on contracts in progress | 46 | €105,510 | €112,305 | +€6,795 | +6.4% |
| Taxes, remuneration and social security | 45 | €8,031 | €27,132 | +€19,100 | +238% |
| Taxes | 450/3 | €8,031 | €27,132 | +€19,100 | +238% |
| Other amounts payable | 47/48 | €11,118 | €9,518 | -€1,600 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,565 | €35,120 | +€3,555 | +11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,210 | +€1,210 | |
| Other operating charges | 640/8 | €2,585 | €2,561 | -€23 | -0.9% |
| Gross operating margin | 9900 | €77,082 | €128,292 | +€51,211 | +66.4% |
| Operating profit (loss) | 9901 | €42,932 | €89,401 | +€46,469 | +108% |
| Financial income | 75/76B | €1 | €550 | +€550 | +107,784% |
| Recurring financial income | 75 | €1 | €550 | +€550 | +107,784% |
| Financial charges | 65/66B | €4,410 | €3,913 | -€498 | -11.3% |
| Recurring financial charges | 65 | €4,410 | €3,913 | -€498 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €38,522 | €86,038 | +€47,516 | +123% |
| Income taxes | 67/77 | €8,200 | €24,480 | +€16,280 | +199% |
| Profit (loss) for the period | 9904 | €30,322 | €61,558 | +€31,236 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €30,322 | €61,558 | +€31,236 | +103% |
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 16 October 2026 via checked.be.