PORTE V: 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.
PORTE V
Largest movements
- Receivables within one year +€183,933
up €183,933 (+80.2%), from €229,472 to €413,405
of which Trade receivables: +€189,875
- Cash -€115,205
down €115,205 (-31.9%), from €360,992 to €245,787
mainly Contributions, distributions and other (-€325,000) and Receivables within one year (-€183,933)
- Tangible fixed assets -€26,735
down €26,735 (-26.4%), from €101,081 to €74,346
of which Furniture and vehicles: -€26,752
- Reserves -€304,330
down €304,330 (-57.0%), from €533,659 to €229,330
- Trade debts +€171,845
up €171,845 (+273%), from €62,854 to €234,698
- Other debts +€170,000
new in 2025: €170,000
- Gross operating margin -€97,732
down €97,732 (-18.6%), from €526,276 to €428,544
- Taxes -€18,788
down €18,788 (-73.5%), from €25,563 to €6,774
- Depreciation -€9,698
down €9,698 (-25.4%), from €38,132 to €28,435
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 | €699,783 | €745,531 | +€45,748 | +6.5% |
| Fixed assets | 21/28 | €106,976 | €80,556 | -€26,420 | -24.7% |
| Tangible fixed assets | 22/27 | €101,081 | €74,346 | -€26,735 | -26.4% |
| Plant, machinery and equipment | 23 | €3,794 | €4,370 | +€576 | +15.2% |
| Furniture and vehicles | 24 | €93,887 | €67,135 | -€26,752 | -28.5% |
| Other tangible fixed assets | 26 | €3,400 | €2,841 | -€559 | -16.4% |
| Financial fixed assets | 28 | €5,895 | €6,210 | +€315 | +5.3% |
| Current assets | 29/58 | €592,807 | €664,975 | +€72,168 | +12.2% |
| Amounts receivable within one year | 40/41 | €229,472 | €413,405 | +€183,933 | +80.2% |
| Trade receivables | 40 | €220,852 | €410,727 | +€189,875 | +86.0% |
| Other amounts receivable | 41 | €8,619 | €2,678 | -€5,941 | -68.9% |
| Cash at bank and in hand | 54/58 | €360,992 | €245,787 | -€115,205 | -31.9% |
| Deferred charges and accrued income | 490/1 | €2,343 | €5,782 | +€3,439 | +147% |
| Total equity and liabilities | 10/49 | €699,783 | €745,531 | +€45,748 | +6.5% |
| Equity | 10/15 | €573,659 | €269,330 | -€304,330 | -53.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €533,659 | €229,330 | -€304,330 | -57.0% |
| Distributable reserves | 133 | €533,659 | €229,330 | -€304,330 | -57.0% |
| Amounts payable | 17/49 | €126,124 | €476,201 | +€350,077 | +278% |
| Amounts payable within one year | 42/48 | €126,098 | €471,123 | +€345,026 | +274% |
| Trade debts | 44 | €62,854 | €234,698 | +€171,845 | +273% |
| Suppliers | 440/4 | €62,854 | €234,698 | +€171,845 | +273% |
| Taxes, remuneration and social security | 45 | €63,244 | €66,425 | +€3,181 | +5.0% |
| Taxes | 450/3 | €16,829 | €10,516 | -€6,314 | -37.5% |
| Remuneration and social security | 454/9 | €46,415 | €55,909 | +€9,494 | +20.5% |
| Other amounts payable | 47/48 | - | €170,000 | +€170,000 | |
| Accrued charges and deferred income | 492/3 | €26 | €5,078 | +€5,052 | +19,573% |
| Remuneration, social security and pensions | 62 | €364,841 | €367,673 | +€2,832 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,132 | €28,435 | -€9,698 | -25.4% |
| Other operating charges | 640/8 | €4,874 | €4,486 | -€388 | -8.0% |
| Gross operating margin | 9900 | €526,276 | €428,544 | -€97,732 | -18.6% |
| Operating profit (loss) | 9901 | €118,429 | €27,950 | -€90,478 | -76.4% |
| Financial income | 75/76B | €153 | €266 | +€113 | +73.8% |
| Recurring financial income | 75 | €153 | €266 | +€113 | +73.8% |
| Financial charges | 65/66B | €554 | €772 | +€218 | +39.3% |
| Recurring financial charges | 65 | €554 | €772 | +€218 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €118,028 | €27,445 | -€90,583 | -76.7% |
| Income taxes | 67/77 | €25,563 | €6,774 | -€18,788 | -73.5% |
| Profit (loss) for the period | 9904 | €92,466 | €20,670 | -€71,795 | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €92,466 | €20,670 | -€71,795 | -77.6% |
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 18 October 2026 via checked.be.