Portael 34: what changed
Portael 34
Largest movements
- Tangible fixed assets +€177,490
up €177,490 (+51.1%), from €347,634 to €525,124
of which Land and buildings: +€167,088
- Other debts +€123,170
up €123,170 (+207%), from €59,500 to €182,670
- Debts after one year +€66,321
up €66,321 (+25.9%), from €256,534 to €322,855
- Profit (loss) carried forward -€12,297
down €12,297 (-28.8%), from -€42,670 to -€54,967
- Gross operating margin +€28,547
up €28,547, from -€9,344 to €19,203
- Depreciation +€13,470
up €13,470 (+384%), from €3,504 to €16,974
- Financial charges +€2,269
up €2,269 (+21.2%), from €10,712 to €12,982
- Other operating charges -€341
down €341 (-18.1%), from €1,885 to €1,544
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,515 | €531,613 | +€182,099 | +52.1% |
| Fixed assets | 21/28 | €347,634 | €525,124 | +€177,490 | +51.1% |
| Tangible fixed assets | 22/27 | €347,634 | €525,124 | +€177,490 | +51.1% |
| Land and buildings | 22 | €347,634 | €514,722 | +€167,088 | +48.1% |
| Plant, machinery and equipment | 23 | - | €10,402 | +€10,402 | |
| Current assets | 29/58 | €1,881 | €6,489 | +€4,608 | +245% |
| Amounts receivable within one year | 40/41 | - | €178 | +€178 | |
| Trade receivables | 40 | - | €178 | +€178 | |
| Cash at bank and in hand | 54/58 | €1,881 | €6,311 | +€4,430 | +236% |
| Total equity and liabilities | 10/49 | €349,515 | €531,613 | +€182,099 | +52.1% |
| Equity | 10/15 | €17,330 | €5,033 | -€12,297 | -71.0% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,670 | -€54,967 | -€12,297 | -28.8% |
| Amounts payable | 17/49 | €332,184 | €526,580 | +€194,395 | +58.5% |
| Amounts payable after more than one year | 17 | €256,534 | €322,855 | +€66,321 | +25.9% |
| Financial debts | 170/4 | €256,534 | €322,855 | +€66,321 | +25.9% |
| Amounts payable within one year | 42/48 | €75,650 | €203,725 | +€128,075 | +169% |
| Current portion of amounts payable after more than one year | 42 | €15,817 | €21,055 | +€5,237 | +33.1% |
| Trade debts | 44 | €333 | - | -€333 | |
| Suppliers | 440/4 | €333 | - | -€333 | |
| Other amounts payable | 47/48 | €59,500 | €182,670 | +€123,170 | +207% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,504 | €16,974 | +€13,470 | +384% |
| Other operating charges | 640/8 | €1,885 | €1,544 | -€341 | -18.1% |
| Gross operating margin | 9900 | -€9,344 | €19,203 | +€28,547 | |
| Operating profit (loss) | 9901 | -€14,732 | €685 | +€15,417 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,712 | €12,982 | +€2,269 | +21.2% |
| Recurring financial charges | 65 | €10,712 | €12,982 | +€2,269 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | -€25,444 | -€12,297 | +€13,148 | +51.7% |
| Profit (loss) for the period | 9904 | -€25,444 | -€12,297 | +€13,148 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,444 | -€12,297 | +€13,148 | +51.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.