PORTARUM: what changed
What changed
PORTARUM
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€24,946
2024 · €29,144-€4,198
Equity
€572,404
2024 · €547,458+€24,946
Cash
€103,702
2024 · €18,808+€84,894
Balance sheet total
€4.5m
2024 · €4.0m+€551,112
Largest movements
Assets
- Tangible fixed assets +€373,891
up €373,891 (+9.5%), from €4.0m to €4.3m
of which Land and buildings: +€374,028
- Receivables within one year +€90,914
up €90,914 (+548%), from €16,594 to €107,508
of which Other amounts receivable: +€61,885
- Cash +€84,894
up €84,894 (+451%), from €18,808 to €103,702
mainly Short-term financial debts (+€426,000) and Debts after one year (+€414,525)
Equity and liabilities
- Short-term financial debts +€426,000
up €426,000, from €0 to €426,000
- Debts after one year +€414,525
up €414,525 (+17.3%), from €2.4m to €2.8m
of which Financial debts: +€214,525
- Other debts -€345,462
down €345,462 (-53.9%), from €640,796 to €295,334
Income statement
- Gross operating margin -€43,892
down €43,892 (-11.8%), from €371,881 to €327,990
- Other operating charges -€43,763
down €43,763 (-50.7%), from €86,301 to €42,538
- Taxes -€8,645
down €8,645 (-47.3%), from €18,258 to €9,613
- Financial charges +€6,474
up €6,474 (+7.9%), from €82,114 to €88,587
- Depreciation +€5,460
up €5,460 (+3.5%), from €156,065 to €161,525
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.
Result 2024
€29,144
Gross operating margin
-€43,892
Depreciation
-€5,460
Other operating charges
+€43,763
Other operating items
-€780
Financial charges
-€6,474
Taxes
+€8,645
Result 2025
€24,946
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€218,243
Investment
-€535,417
Financing
+€838,553
Cash 2024
€18,808
From operations (derived)
-€218,243
Net result for the year
+€24,946
Depreciation
+€161,525
Receivables within one year
-€90,914
Deferred charges and accrued income
-€1,413
Trade debts
+€15,752
Tax, wage and social debts
-€1,030
Other debts
-€345,462
Accrued charges and deferred income
+€18,353
Investment (derived)
-€535,417
Investment in fixed assets (net)
-€535,417
Financing
+€838,553
Debts after one year
+€414,525
Current portion of long-term debt
-€1,972
Short-term financial debts
+€426,000
Cash 2025
€103,702
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,989,711 | €4,540,823 | +€551,112 | +13.8% |
| Fixed assets | 21/28 | €3,951,884 | €4,325,775 | +€373,891 | +9.5% |
| Tangible fixed assets | 22/27 | €3,951,884 | €4,325,775 | +€373,891 | +9.5% |
| Land and buildings | 22 | €3,951,747 | €4,325,775 | +€374,028 | +9.5% |
| Plant, machinery and equipment | 23 | €136 | €0 | -€136 | -100% |
| Current assets | 29/58 | €37,827 | €215,048 | +€177,221 | +468% |
| Amounts receivable within one year | 40/41 | €16,594 | €107,508 | +€90,914 | +548% |
| Trade receivables | 40 | €0 | €29,029 | +€29,029 | |
| Other amounts receivable | 41 | €16,594 | €78,479 | +€61,885 | +373% |
| Cash at bank and in hand | 54/58 | €18,808 | €103,702 | +€84,894 | +451% |
| Deferred charges and accrued income | 490/1 | €2,425 | €3,839 | +€1,413 | +58.3% |
| Total equity and liabilities | 10/49 | €3,989,711 | €4,540,823 | +€551,112 | +13.8% |
| Equity | 10/15 | €547,458 | €572,404 | +€24,946 | +4.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €105,000 | €105,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €98,000 | €98,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,458 | €217,404 | +€24,946 | +13.0% |
| Amounts payable | 17/49 | €3,442,253 | €3,968,420 | +€526,166 | +15.3% |
| Amounts payable after more than one year | 17 | €2,396,692 | €2,811,217 | +€414,525 | +17.3% |
| Financial debts | 170/4 | €1,796,692 | €2,011,217 | +€214,525 | +11.9% |
| Other amounts payable | 178/9 | €600,000 | €800,000 | +€200,000 | +33.3% |
| Amounts payable within one year | 42/48 | €949,935 | €1,043,223 | +€93,288 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €261,447 | €259,475 | -€1,972 | -0.8% |
| Financial debts | 43 | €0 | €426,000 | +€426,000 | |
| Credit institutions | 430/8 | €0 | €426,000 | +€426,000 | |
| Trade debts | 44 | €10,970 | €26,722 | +€15,752 | +144% |
| Suppliers | 440/4 | €10,970 | €26,722 | +€15,752 | +144% |
| Taxes, remuneration and social security | 45 | €36,721 | €35,691 | -€1,030 | -2.8% |
| Taxes | 450/3 | €31,695 | €25,530 | -€6,164 | -19.4% |
| Remuneration and social security | 454/9 | €5,027 | €10,161 | +€5,134 | +102% |
| Other amounts payable | 47/48 | €640,796 | €295,334 | -€345,462 | -53.9% |
| Accrued charges and deferred income | 492/3 | €95,627 | €113,980 | +€18,353 | +19.2% |
| Non-recurring operating income | 76A | €376 | - | -€376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,065 | €161,525 | +€5,460 | +3.5% |
| Other operating charges | 640/8 | €86,301 | €42,538 | -€43,763 | -50.7% |
| Non-recurring operating charges | 66A | - | €780 | +€780 | |
| Gross operating margin | 9900 | €371,881 | €327,990 | -€43,892 | -11.8% |
| Operating profit (loss) | 9901 | €129,516 | €123,146 | -€6,369 | -4.9% |
| Financial income | 75/76B | €0 | €0 | = | |
| Recurring financial income | 75 | €0 | €0 | = | |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €82,114 | €88,587 | +€6,474 | +7.9% |
| Recurring financial charges | 65 | €82,114 | €88,587 | +€6,474 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €47,402 | €34,559 | -€12,843 | -27.1% |
| Income taxes | 67/77 | €18,258 | €9,613 | -€8,645 | -47.3% |
| Profit (loss) for the period | 9904 | €29,144 | €24,946 | -€4,198 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,144 | €24,946 | -€4,198 | -14.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.