Portalus: 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.
Portalus
Largest movements
- Deferred charges and accrued income +€36,627
up €36,627 (+531%), from €6,899 to €43,526
- Receivables within one year -€22,187
down €22,187 (-7.3%), from €303,410 to €281,224
of which Trade receivables: -€32,024
- Cash -€6,830
down €6,830 (-3.0%), from €227,949 to €221,118
mainly Other debts (-€143,972) and Deferred charges and accrued income (-€36,627)
- Other debts -€143,972
down €143,972 (-96.4%), from €149,319 to €5,347
- Reserves +€114,067
up €114,067 (+745%), from €15,319 to €129,386
- Accrued charges and deferred income +€21,911
up €21,911 (+8.8%), from €248,210 to €270,120
- Short-term financial debts +€12,635
up €12,635 (+1,960%), from €645 to €13,280
- Trade debts +€8,317
up €8,317 (+13.9%), from €59,689 to €68,006
- Gross operating margin -€25,038
down €25,038 (-13.7%), from €182,380 to €157,342
- Taxes -€9,402
down €9,402 (-19.3%), from €48,596 to €39,194
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 | €543,258 | €551,853 | +€8,595 | +1.6% |
| Fixed assets | 21/28 | €5,000 | €5,985 | +€985 | +19.7% |
| Tangible fixed assets | 22/27 | - | €985 | +€985 | |
| Plant, machinery and equipment | 23 | - | €985 | +€985 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €538,258 | €545,868 | +€7,610 | +1.4% |
| Amounts receivable within one year | 40/41 | €303,410 | €281,224 | -€22,187 | -7.3% |
| Trade receivables | 40 | €272,170 | €240,146 | -€32,024 | -11.8% |
| Other amounts receivable | 41 | €31,241 | €41,078 | +€9,837 | +31.5% |
| Cash at bank and in hand | 54/58 | €227,949 | €221,118 | -€6,830 | -3.0% |
| Deferred charges and accrued income | 490/1 | €6,899 | €43,526 | +€36,627 | +531% |
| Total equity and liabilities | 10/49 | €543,258 | €551,853 | +€8,595 | +1.6% |
| Equity | 10/15 | €18,319 | €132,386 | +€114,067 | +623% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,319 | €129,386 | +€114,067 | +745% |
| Distributable reserves | 133 | €15,319 | €129,386 | +€114,067 | +745% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €524,939 | €419,467 | -€105,472 | -20.1% |
| Amounts payable within one year | 42/48 | €276,729 | €149,347 | -€127,382 | -46.0% |
| Financial debts | 43 | €645 | €13,280 | +€12,635 | +1,960% |
| Other loans | 439 | €645 | €13,280 | +€12,635 | +1,960% |
| Trade debts | 44 | €59,689 | €68,006 | +€8,317 | +13.9% |
| Suppliers | 440/4 | €59,689 | €68,006 | +€8,317 | +13.9% |
| Taxes, remuneration and social security | 45 | €67,076 | €62,714 | -€4,362 | -6.5% |
| Taxes | 450/3 | €67,076 | €62,714 | -€4,362 | -6.5% |
| Other amounts payable | 47/48 | €149,319 | €5,347 | -€143,972 | -96.4% |
| Accrued charges and deferred income | 492/3 | €248,210 | €270,120 | +€21,911 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €477 | +€477 | |
| Other operating charges | 640/8 | €505 | €1,963 | +€1,458 | +288% |
| Gross operating margin | 9900 | €182,380 | €157,342 | -€25,038 | -13.7% |
| Operating profit (loss) | 9901 | €181,874 | €154,902 | -€26,972 | -14.8% |
| Financial income | 75/76B | €402 | €33 | -€368 | -91.7% |
| Recurring financial income | 75 | €402 | €33 | -€368 | -91.7% |
| Financial charges | 65/66B | €948 | €1,675 | +€727 | +76.8% |
| Recurring financial charges | 65 | €948 | €1,675 | +€727 | +76.8% |
| Profit (loss) for the period before taxes | 9903 | €181,328 | €153,260 | -€28,068 | -15.5% |
| Income taxes | 67/77 | €48,596 | €39,194 | -€9,402 | -19.3% |
| Profit (loss) for the period | 9904 | €132,732 | €114,067 | -€18,666 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €132,732 | €114,067 | -€18,666 | -14.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.