PORTAFO: 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.
PORTAFO
Largest movements
- Cash +€32,307
up €32,307 (+540.3%), from €5,980 to €38,287
mainly Receivables within one year (+€25,531) and Depreciation (+€9,984)
- Receivables within one year -€25,531
down €25,531 (-64.7%), from €39,446 to €13,915
of which Trade receivables: -€25,531
- Tangible fixed assets -€9,984
down €9,984 (-34.9%), from €28,605 to €18,621
of which Furniture and vehicles: -€9,643
- Debts after one year -€9,083
down €9,083 (-54.0%), from €16,818 to €7,734
- Reserves +€8,244
up €8,244 (+143.6%), from €5,741 to €13,985
- Tax, wage and social debts -€3,731
down €3,731 (-31.1%), from €12,007 to €8,276
- Other debts +€1,744
up €1,744 (+10.3%), from €16,913 to €18,657
- Gross operating margin +€2,961
up €2,961 (+16.2%), from €18,273 to €21,234
- Taxes +€553
up €553 (+54.7%), from €1,013 to €1,566
- Depreciation +€275
up €275 (+2.8%), from €9,709 to €9,984
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.
Cash bridge derived
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 | €74,031 | €70,823 | -€3,209 | -4.3% |
| Fixed assets | 21/28 | €28,605 | €18,621 | -€9,984 | -34.9% |
| Tangible fixed assets | 22/27 | €28,605 | €18,621 | -€9,984 | -34.9% |
| Plant, machinery and equipment | 23 | €342 | - | -€342 | |
| Furniture and vehicles | 24 | €28,264 | €18,621 | -€9,643 | -34.1% |
| Current assets | 29/58 | €45,426 | €52,202 | +€6,776 | +14.9% |
| Amounts receivable within one year | 40/41 | €39,446 | €13,915 | -€25,531 | -64.7% |
| Trade receivables | 40 | €39,446 | €13,915 | -€25,531 | -64.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,980 | €38,287 | +€32,307 | +540.3% |
| Total equity and liabilities | 10/49 | €74,031 | €70,823 | -€3,209 | -4.3% |
| Equity | 10/15 | -€3,038 | €5,206 | +€8,244 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,741 | €13,985 | +€8,244 | +143.6% |
| Distributable reserves | 133 | €5,741 | €13,985 | +€8,244 | +143.6% |
| Profit (loss) carried forward | 14 | -€10,778 | -€10,778 | = | 0.0% |
| Amounts payable | 17/49 | €77,069 | €65,616 | -€11,453 | -14.9% |
| Amounts payable after more than one year | 17 | €16,818 | €7,734 | -€9,083 | -54.0% |
| Financial debts | 170/4 | €16,818 | €7,734 | -€9,083 | -54.0% |
| Amounts payable within one year | 42/48 | €60,251 | €57,882 | -€2,369 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €8,873 | €9,083 | +€211 | +2.4% |
| Trade debts | 44 | €22,458 | €21,865 | -€593 | -2.6% |
| Suppliers | 440/4 | €22,458 | €21,865 | -€593 | -2.6% |
| Taxes, remuneration and social security | 45 | €12,007 | €8,276 | -€3,731 | -31.1% |
| Taxes | 450/3 | €12,007 | €8,276 | -€3,731 | -31.1% |
| Other amounts payable | 47/48 | €16,913 | €18,657 | +€1,744 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,709 | €9,984 | +€275 | +2.8% |
| Other operating charges | 640/8 | €1,045 | €874 | -€171 | -16.3% |
| Gross operating margin | 9900 | €18,273 | €21,234 | +€2,961 | +16.2% |
| Operating profit (loss) | 9901 | €7,519 | €10,375 | +€2,856 | +38.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €766 | €565 | -€200 | -26.2% |
| Recurring financial charges | 65 | €766 | €565 | -€200 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €6,753 | €9,810 | +€3,057 | +45.3% |
| Income taxes | 67/77 | €1,013 | €1,566 | +€553 | +54.7% |
| Profit (loss) for the period | 9904 | €5,741 | €8,244 | +€2,503 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,741 | €8,244 | +€2,503 | +43.6% |
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 2 October 2026 via checked.be.