PORTEXCO: 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.
PORTEXCO
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Receivables within one year -€205,279
down €205,279 (-67.8%), from €302,781 to €97,502
of which Other amounts receivable: -€257,772
- Cash -€93,862
down €93,862 (-78.2%), from €120,093 to €26,231
mainly Current investments (-€300,000) and Trade debts (-€5,169)
- Tax, wage and social debts +€8,036
up €8,036 (+392.7%), from €2,047 to €10,083
of which Remuneration and social security: +€6,083
- Trade debts -€5,169
down €5,169 (-100.0%), from €5,169 to €0
- Gross operating margin +€46,878
up €46,878 (+519.9%), from €9,016 to €55,894
- Staff costs +€41,392
up €41,392 (+292.7%), from €14,143 to €55,535
- Financial charges +€6,985
up €6,985 (+2024.3%), from €345 to €7,330
- Financial income -€564
down €564 (-9.0%), from €6,267 to €5,704
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 | €423,237 | €424,096 | +€859 | +0.2% |
| Fixed assets | 21/28 | €363 | €363 | = | 0.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €422,874 | €423,733 | +€859 | +0.2% |
| Amounts receivable within one year | 40/41 | €302,781 | €97,502 | -€205,279 | -67.8% |
| Trade receivables | 40 | €44,094 | €96,587 | +€52,493 | +119.0% |
| Other amounts receivable | 41 | €258,687 | €916 | -€257,772 | -99.6% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €120,093 | €26,231 | -€93,862 | -78.2% |
| Total equity and liabilities | 10/49 | €423,237 | €424,096 | +€859 | +0.2% |
| Equity | 10/15 | €416,022 | €414,013 | -€2,009 | -0.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €403,622 | €401,613 | -€2,009 | -0.5% |
| Distributable reserves | 133 | €403,622 | €401,613 | -€2,009 | -0.5% |
| Amounts payable | 17/49 | €7,216 | €10,083 | +€2,867 | +39.7% |
| Amounts payable within one year | 42/48 | €7,216 | €10,083 | +€2,867 | +39.7% |
| Trade debts | 44 | €5,169 | €0 | -€5,169 | -100.0% |
| Suppliers | 440/4 | €5,169 | €0 | -€5,169 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,047 | €10,083 | +€8,036 | +392.7% |
| Taxes | 450/3 | €290 | €2,243 | +€1,953 | +673.7% |
| Remuneration and social security | 454/9 | €1,757 | €7,840 | +€6,083 | +346.3% |
| Remuneration, social security and pensions | 62 | €14,143 | €55,535 | +€41,392 | +292.7% |
| Other operating charges | 640/8 | €528 | €741 | +€213 | +40.3% |
| Gross operating margin | 9900 | €9,016 | €55,894 | +€46,878 | +519.9% |
| Operating profit (loss) | 9901 | -€5,655 | -€382 | +€5,273 | +93.2% |
| Financial income | 75/76B | €6,267 | €5,704 | -€564 | -9.0% |
| Recurring financial income | 75 | €6,267 | €5,704 | -€564 | -9.0% |
| Financial charges | 65/66B | €345 | €7,330 | +€6,985 | +2024.3% |
| Recurring financial charges | 65 | €345 | €7,330 | +€6,985 | +2024.3% |
| Profit (loss) for the period before taxes | 9903 | €267 | -€2,009 | -€2,276 | |
| Income taxes | 67/77 | €67 | €0 | -€67 | -100.0% |
| Profit (loss) for the period | 9904 | €200 | -€2,009 | -€2,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €200 | -€2,009 | -€2,209 |
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 3 October 2026 via checked.be.