PORTALIS: 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.
PORTALIS
Largest movements
- Cash +€124,002
up €124,002 (+17.4%), from €711,892 to €835,895
mainly Other debts (+€122,497) and Net result for the year (+€41,435)
- Tangible fixed assets +€21,243
up €21,243 (+60.4%), from €35,186 to €56,429
of which Other tangible fixed assets: +€21,229
- Receivables within one year +€17,241
up €17,241 (+16.1%), from €107,271 to €124,512
of which Trade receivables: +€23,241
- Other debts +€122,497
up €122,497 (+44.0%), from €278,558 to €401,055
- Reserves +€41,300
up €41,300 (+26.0%), from €158,890 to €200,190
of which Distributable reserves: +€41,300
- Debts after one year -€23,921
down €23,921 (-18.1%), from €132,444 to €108,523
of which Financial debts: -€19,921
- Tax, wage and social debts +€20,426
up €20,426 (+50.2%), from €40,662 to €61,088
of which Taxes: +€20,663
- Gross operating margin +€50,965
up €50,965 (+26.8%), from €190,386 to €241,352
- Staff costs +€16,451
up €16,451 (+11.4%), from €144,002 to €160,453
- Taxes +€16,062
up €16,062 (+232%), from €6,926 to €22,987
- Provisions -€9,075
no longer reported in 2025 (was €9,075)
- Depreciation -€4,153
down €4,153 (-43.3%), from €9,597 to €5,444
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 | €871,261 | €1,043,620 | +€172,358 | +19.8% |
| Fixed assets | 21/28 | €35,990 | €57,233 | +€21,243 | +59.0% |
| Tangible fixed assets | 22/27 | €35,186 | €56,429 | +€21,243 | +60.4% |
| Furniture and vehicles | 24 | €5,644 | €5,657 | +€13 | +0.2% |
| Other tangible fixed assets | 26 | €29,542 | €50,771 | +€21,229 | +71.9% |
| Financial fixed assets | 28 | €804 | €804 | = | 0.0% |
| Current assets | 29/58 | €835,271 | €986,387 | +€151,116 | +18.1% |
| Amounts receivable within one year | 40/41 | €107,271 | €124,512 | +€17,241 | +16.1% |
| Trade receivables | 40 | €101,271 | €124,512 | +€23,241 | +22.9% |
| Other amounts receivable | 41 | €6,000 | - | -€6,000 | |
| Cash at bank and in hand | 54/58 | €711,892 | €835,895 | +€124,002 | +17.4% |
| Deferred charges and accrued income | 490/1 | €16,108 | €25,980 | +€9,872 | +61.3% |
| Total equity and liabilities | 10/49 | €871,261 | €1,043,620 | +€172,358 | +19.8% |
| Equity | 10/15 | €205,808 | €247,243 | +€41,435 | +20.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €158,890 | €200,190 | +€41,300 | +26.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €138,281 | €179,581 | +€41,300 | +29.9% |
| Profit (loss) carried forward | 14 | €28,326 | €28,462 | +€135 | +0.5% |
| Provisions and deferred taxes | 16 | €111,023 | €111,023 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €111,023 | €111,023 | = | 0.0% |
| Pensions and similar obligations | 160 | €79,676 | €79,676 | = | 0.0% |
| Other liabilities and charges | 164/5 | €31,348 | €31,348 | = | 0.0% |
| Amounts payable | 17/49 | €554,430 | €685,353 | +€130,923 | +23.6% |
| Amounts payable after more than one year | 17 | €132,444 | €108,523 | -€23,921 | -18.1% |
| Financial debts | 170/4 | €54,944 | €35,023 | -€19,921 | -36.3% |
| Other amounts payable | 178/9 | €77,500 | €73,500 | -€4,000 | -5.2% |
| Amounts payable within one year | 42/48 | €421,986 | €576,830 | +€154,844 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €22,746 | €24,300 | +€1,554 | +6.8% |
| Trade debts | 44 | €80,019 | €90,387 | +€10,367 | +13.0% |
| Suppliers | 440/4 | €80,019 | €90,387 | +€10,367 | +13.0% |
| Taxes, remuneration and social security | 45 | €40,662 | €61,088 | +€20,426 | +50.2% |
| Taxes | 450/3 | €19,417 | €40,080 | +€20,663 | +106% |
| Remuneration and social security | 454/9 | €21,245 | €21,008 | -€237 | -1.1% |
| Other amounts payable | 47/48 | €278,558 | €401,055 | +€122,497 | +44.0% |
| Remuneration, social security and pensions | 62 | €144,002 | €160,453 | +€16,451 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,597 | €5,444 | -€4,153 | -43.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,250 | €3,250 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,075 | - | -€9,075 | |
| Other operating charges | 640/8 | €563 | €566 | +€3 | +0.5% |
| Gross operating margin | 9900 | €190,386 | €241,352 | +€50,965 | +26.8% |
| Operating profit (loss) | 9901 | €23,899 | €71,638 | +€47,739 | +200% |
| Financial income | 75/76B | €737 | €1,684 | +€946 | +128% |
| Recurring financial income | 75 | €737 | €1,684 | +€946 | +128% |
| Financial charges | 65/66B | €8,171 | €8,899 | +€728 | +8.9% |
| Recurring financial charges | 65 | €8,171 | €8,899 | +€728 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €16,465 | €64,422 | +€47,958 | +291% |
| Income taxes | 67/77 | €6,926 | €22,987 | +€16,062 | +232% |
| Profit (loss) for the period | 9904 | €9,539 | €41,435 | +€31,896 | +334% |
| Profit (loss) for the period to be appropriated | 9905 | €9,539 | €41,435 | +€31,896 | +334% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.