PORTAFLEX: 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.
What changed
PORTAFLEX
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€45,354
2024 · €13,347+€32,007
Equity
€233,109
2024 · €187,756+€45,354
Cash
€24,402
2024 · €29,005-€4,603
Balance sheet total
€740,346
2024 · €599,229+€141,117
Largest movements
Assets
- Receivables within one year +€146,254
up €146,254 (+53.5%), from €273,587 to €419,841
of which Other amounts receivable: +€203,308
- Tangible fixed assets -€23,490
down €23,490 (-8.6%), from €272,369 to €248,880
- Intangible fixed assets +€18,128
up €18,128 (+76.8%), from €23,594 to €41,722
Equity and liabilities
- Tax, wage and social debts +€90,524
up €90,524 (+200%), from €45,302 to €135,826
of which Taxes: +€64,053
- Advances received +€62,771
new in 2025: €62,771
- Profit (loss) carried forward +€45,354
up €45,354 (+169%), from €26,907 to €72,260
- Trade debts -€23,047
down €23,047 (-29.8%), from €77,442 to €54,395
- Debts after one year -€21,186
down €21,186 (-9.0%), from €234,846 to €213,660
Income statement
- Gross operating margin +€170,616
up €170,616 (+66.6%), from €256,345 to €426,961
- Staff costs +€134,764
up €134,764 (+63.8%), from €211,352 to €346,117
- Other operating charges +€12,083
up €12,083 (+699%), from €1,729 to €13,812
- Write-downs -€10,948
new in 2025: -€10,948
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
€13,347
Gross operating margin
+€170,616
Staff costs
-€134,764
Depreciation
-€3,669
Write-downs
+€10,948
Other operating charges
-€12,083
Other operating items
+€126
Financial income
+€1,331
Financial charges
-€304
Taxes
-€195
Result 2025
€45,354
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€30,770
Investment
-€21,803
Financing
-€13,570
Cash 2024
€29,005
From operations (derived)
+€30,770
Net result for the year
+€45,354
Depreciation
+€27,165
Stocks and contracts
-€1,917
Receivables within one year
-€146,254
Deferred charges and accrued income
-€2,911
Trade debts
-€23,047
Tax, wage and social debts
+€90,524
Advances received
+€62,771
Other debts
-€19,782
Accrued charges and deferred income
-€1,133
Investment (derived)
-€21,803
Investment in fixed assets (net)
-€21,803
Financing
-€13,570
Debts after one year
-€21,186
Current portion of long-term debt
+€236
Short-term financial debts
+€7,380
Cash 2025
€24,402
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €599,229 | €740,346 | +€141,117 | +23.5% |
| Fixed assets | 21/28 | €296,087 | €290,725 | -€5,362 | -1.8% |
| Intangible fixed assets | 21 | €23,594 | €41,722 | +€18,128 | +76.8% |
| Tangible fixed assets | 22/27 | €272,369 | €248,880 | -€23,490 | -8.6% |
| Leasing and similar rights | 25 | €272,369 | €248,880 | -€23,490 | -8.6% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €303,142 | €449,620 | +€146,479 | +48.3% |
| Stocks and contracts in progress | 3 | €0 | €1,917 | +€1,917 | |
| Stocks | 30/36 | €0 | €1,917 | +€1,917 | |
| Amounts receivable within one year | 40/41 | €273,587 | €419,841 | +€146,254 | +53.5% |
| Trade receivables | 40 | €224,809 | €167,756 | -€57,053 | -25.4% |
| Other amounts receivable | 41 | €48,778 | €252,086 | +€203,308 | +417% |
| Cash at bank and in hand | 54/58 | €29,005 | €24,402 | -€4,603 | -15.9% |
| Deferred charges and accrued income | 490/1 | €549 | €3,460 | +€2,911 | +530% |
| Total equity and liabilities | 10/49 | €599,229 | €740,346 | +€141,117 | +23.5% |
| Equity | 10/15 | €187,756 | €233,109 | +€45,354 | +24.2% |
| Contributions | 10/11 | €153,989 | €153,989 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Distributable reserves | 133 | €6,860 | €6,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,907 | €72,260 | +€45,354 | +169% |
| Amounts payable | 17/49 | €411,473 | €507,237 | +€95,763 | +23.3% |
| Amounts payable after more than one year | 17 | €234,846 | €213,660 | -€21,186 | -9.0% |
| Financial debts | 170/4 | €234,846 | €213,660 | -€21,186 | -9.0% |
| Amounts payable within one year | 42/48 | €175,456 | €293,538 | +€118,082 | +67.3% |
| Current portion of amounts payable after more than one year | 42 | €21,737 | €21,974 | +€236 | +1.1% |
| Financial debts | 43 | €7,016 | €14,396 | +€7,380 | +105% |
| Credit institutions | 430/8 | €7,016 | €14,396 | +€7,380 | +105% |
| Trade debts | 44 | €77,442 | €54,395 | -€23,047 | -29.8% |
| Suppliers | 440/4 | €77,442 | €54,395 | -€23,047 | -29.8% |
| Advances received on contracts in progress | 46 | - | €62,771 | +€62,771 | |
| Taxes, remuneration and social security | 45 | €45,302 | €135,826 | +€90,524 | +200% |
| Taxes | 450/3 | €7,980 | €72,032 | +€64,053 | +803% |
| Remuneration and social security | 454/9 | €37,323 | €63,794 | +€26,471 | +70.9% |
| Other amounts payable | 47/48 | €23,958 | €4,177 | -€19,782 | -82.6% |
| Accrued charges and deferred income | 492/3 | €1,171 | €38 | -€1,133 | -96.7% |
| Remuneration, social security and pensions | 62 | €211,352 | €346,117 | +€134,764 | +63.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,496 | €27,165 | +€3,669 | +15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€10,948 | -€10,948 | |
| Other operating charges | 640/8 | €1,729 | €13,812 | +€12,083 | +699% |
| Non-recurring operating charges | 66A | €63 | -€63 | -€126 | |
| Gross operating margin | 9900 | €256,345 | €426,961 | +€170,616 | +66.6% |
| Operating profit (loss) | 9901 | €19,704 | €50,879 | +€31,175 | +158% |
| Financial income | 75/76B | €717 | €2,048 | +€1,331 | +186% |
| Recurring financial income | 75 | €717 | €2,048 | +€1,331 | +186% |
| Financial charges | 65/66B | €7,074 | €7,379 | +€304 | +4.3% |
| Recurring financial charges | 65 | €7,074 | €7,379 | +€304 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €13,347 | €45,548 | +€32,201 | +241% |
| Income taxes | 67/77 | €0 | €195 | +€195 | +324,567% |
| Profit (loss) for the period | 9904 | €13,347 | €45,354 | +€32,007 | +240% |
| Profit (loss) for the period to be appropriated | 9905 | €13,347 | €45,354 | +€32,007 | +240% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.