PORTAFINE: what changed
PORTAFINE
Largest movements
- Cash +€247,528
up €247,528 (+571%), from €43,347 to €290,875
mainly Current investments (+€175,000) and Receivables after one year (+€100,000)
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
- Receivables after one year -€100,000
down €100,000 (-45.5%), from €220,000 to €120,000
of which Other amounts receivable: -€220,000
- Receivables within one year +€28,416
up €28,416 (+58.8%), from €48,291 to €76,707
of which Other amounts receivable: +€20,618
- Tangible fixed assets -€14,778
down €14,778 (-1.6%), from €906,664 to €891,887
of which Land and buildings: -€13,316
- Other debts +€44,975
new in 2025: €44,975
- Reserves -€32,709
down €32,709 (-4.9%), from €662,150 to €629,441
of which Distributable reserves: -€32,156
- Debts after one year -€25,501
down €25,501 (-3.9%), from €648,096 to €622,595
- Gross operating margin -€53,338
down €53,338 (-44.7%), from €119,235 to €65,897
- Depreciation -€10,104
down €10,104 (-36.6%), from €27,621 to €17,518
- Financial income +€3,913
up €3,913 (+752%), from €520 to €4,434
- Financial charges -€3,573
down €3,573 (-10.5%), from €33,975 to €30,402
- Taxes -€2,875
down €2,875 (-53.4%), from €5,380 to €2,505
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 | €1,393,303 | €1,379,469 | -€13,834 | -1.0% |
| Fixed assets | 21/28 | €906,664 | €891,887 | -€14,778 | -1.6% |
| Tangible fixed assets | 22/27 | €906,664 | €891,887 | -€14,778 | -1.6% |
| Land and buildings | 22 | €899,479 | €886,163 | -€13,316 | -1.5% |
| Plant, machinery and equipment | 23 | €6,142 | €4,917 | -€1,225 | -20.0% |
| Furniture and vehicles | 24 | €1,043 | €807 | -€236 | -22.6% |
| Current assets | 29/58 | €486,639 | €487,582 | +€944 | +0.2% |
| Amounts receivable after more than one year | 29 | €220,000 | €120,000 | -€100,000 | -45.5% |
| Trade receivables | 290 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | €220,000 | - | -€220,000 | |
| Amounts receivable within one year | 40/41 | €48,291 | €76,707 | +€28,416 | +58.8% |
| Trade receivables | 40 | €17,414 | €25,212 | +€7,798 | +44.8% |
| Other amounts receivable | 41 | €30,877 | €51,495 | +€20,618 | +66.8% |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €43,347 | €290,875 | +€247,528 | +571% |
| Total equity and liabilities | 10/49 | €1,393,303 | €1,379,469 | -€13,834 | -1.0% |
| Equity | 10/15 | €691,900 | €659,191 | -€32,709 | -4.7% |
| Contributions | 10/11 | €29,750 | €29,750 | = | 0.0% |
| Reserves | 13 | €662,150 | €629,441 | -€32,709 | -4.9% |
| Non-distributable reserves | 130/1 | €3,715 | €3,715 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,715 | €3,715 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,438 | €17,885 | -€553 | -3.0% |
| Distributable reserves | 133 | €639,997 | €607,841 | -€32,156 | -5.0% |
| Amounts payable | 17/49 | €701,403 | €720,279 | +€18,875 | +2.7% |
| Amounts payable after more than one year | 17 | €648,096 | €622,595 | -€25,501 | -3.9% |
| Financial debts | 170/4 | €648,096 | €622,595 | -€25,501 | -3.9% |
| Amounts payable within one year | 42/48 | €53,307 | €97,683 | +€44,376 | +83.2% |
| Current portion of amounts payable after more than one year | 42 | €24,510 | €25,501 | +€991 | +4.0% |
| Trade debts | 44 | €9,276 | €0 | -€9,276 | -100% |
| Suppliers | 440/4 | €9,276 | €0 | -€9,276 | -100% |
| Taxes, remuneration and social security | 45 | €19,521 | €27,207 | +€7,686 | +39.4% |
| Taxes | 450/3 | €19,521 | €27,207 | +€7,686 | +39.4% |
| Other amounts payable | 47/48 | - | €44,975 | +€44,975 | |
| Non-recurring operating income | 76A | €45,000 | - | -€45,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,621 | €17,518 | -€10,104 | -36.6% |
| Other operating charges | 640/8 | €2,844 | €5,273 | +€2,429 | +85.4% |
| Gross operating margin | 9900 | €119,235 | €65,897 | -€53,338 | -44.7% |
| Operating profit (loss) | 9901 | €88,769 | €43,106 | -€45,663 | -51.4% |
| Financial income | 75/76B | €520 | €4,434 | +€3,913 | +752% |
| Recurring financial income | 75 | €520 | €4,434 | +€3,913 | +752% |
| Financial charges | 65/66B | €33,975 | €30,402 | -€3,573 | -10.5% |
| Recurring financial charges | 65 | €33,975 | €30,402 | -€3,573 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €55,315 | €17,138 | -€38,177 | -69.0% |
| Income taxes | 67/77 | €5,380 | €2,505 | -€2,875 | -53.4% |
| Profit (loss) for the period | 9904 | €49,935 | €14,633 | -€35,302 | -70.7% |
| Transfer from tax-exempt reserves | 789 | €553 | €553 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,488 | €15,186 | -€35,302 | -69.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.