PORTFOLIA: 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.
PORTFOLIA
Largest movements
- Current investments -€550,194
down €550,194 (-85.9%), from €640,377 to €90,183
- Cash +€506,380
new in 2025: €506,380
mainly Current investments (+€550,194) and Provisions (+€42,013)
- Receivables within one year +€48,397
up €48,397 (+709%), from €6,824 to €55,221
of which Trade receivables: +€27,176
- Deferred charges and accrued income +€12,112
new in 2025: €12,112
- Provisions +€42,013
up €42,013 (+926%), from €4,538 to €46,550
- Other debts -€41,436
down €41,436 (-91.2%), from €45,411 to €3,976
- Reserves +€29,531
new in 2025: €29,531
- Tax, wage and social debts -€10,195
down €10,195 (-88.4%), from €11,530 to €1,335
- Debts after one year -€7,790
down €7,790 (-32.2%), from €24,170 to €16,379
- Gross operating margin -€50,544
down €50,544 (-58.9%), from €85,869 to €35,325
- Provisions +€42,013
new in 2025: €42,013
- Taxes -€25,243
down €25,243 (-97.5%), from €25,886 to €643
- Other operating charges -€5,763
down €5,763 (-86.1%), from €6,691 to €928
- Financial charges +€2,779
up €2,779 (+192%), from €1,449 to €4,228
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 | €730,300 | €742,841 | +€12,541 | +1.7% |
| Fixed assets | 21/28 | €83,100 | €78,945 | -€4,155 | -5.0% |
| Tangible fixed assets | 22/27 | €83,100 | €78,945 | -€4,155 | -5.0% |
| Land and buildings | 22 | €83,100 | €78,945 | -€4,155 | -5.0% |
| Current assets | 29/58 | €647,200 | €663,896 | +€16,696 | +2.6% |
| Amounts receivable within one year | 40/41 | €6,824 | €55,221 | +€48,397 | +709% |
| Trade receivables | 40 | €6,824 | €34,000 | +€27,176 | +398% |
| Other amounts receivable | 41 | - | €21,221 | +€21,221 | |
| Current investments | 50/53 | €640,377 | €90,183 | -€550,194 | -85.9% |
| Cash at bank and in hand | 54/58 | - | €506,380 | +€506,380 | |
| Deferred charges and accrued income | 490/1 | - | €12,112 | +€12,112 | |
| Total equity and liabilities | 10/49 | €730,300 | €742,841 | +€12,541 | +1.7% |
| Equity | 10/15 | €643,110 | €673,785 | +€30,675 | +4.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | - | €29,531 | +€29,531 | |
| Distributable reserves | 133 | - | €29,531 | +€29,531 | |
| Profit (loss) carried forward | 14 | €643,109 | €644,253 | +€1,144 | +0.2% |
| Provisions and deferred taxes | 16 | €4,538 | €46,550 | +€42,013 | +926% |
| Provisions for liabilities and charges | 160/5 | €4,538 | €46,550 | +€42,013 | +926% |
| Other liabilities and charges | 164/5 | €4,538 | €46,550 | +€42,013 | +926% |
| Amounts payable | 17/49 | €82,653 | €22,506 | -€60,147 | -72.8% |
| Amounts payable after more than one year | 17 | €24,170 | €16,379 | -€7,790 | -32.2% |
| Financial debts | 170/4 | €24,170 | €16,379 | -€7,790 | -32.2% |
| Amounts payable within one year | 42/48 | €58,483 | €6,127 | -€52,356 | -89.5% |
| Trade debts | 44 | €1,542 | €816 | -€726 | -47.1% |
| Suppliers | 440/4 | €1,542 | €816 | -€726 | -47.1% |
| Taxes, remuneration and social security | 45 | €11,530 | €1,335 | -€10,195 | -88.4% |
| Taxes | 450/3 | €11,530 | €1,335 | -€10,195 | -88.4% |
| Other amounts payable | 47/48 | €45,411 | €3,976 | -€41,436 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,155 | €4,155 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €42,013 | +€42,013 | |
| Other operating charges | 640/8 | €6,691 | €928 | -€5,763 | -86.1% |
| Gross operating margin | 9900 | €85,869 | €35,325 | -€50,544 | -58.9% |
| Operating profit (loss) | 9901 | €75,024 | -€11,770 | -€86,794 | |
| Financial income | 75/76B | €17,157 | €18,585 | +€1,428 | +8.3% |
| Recurring financial income | 75 | €17,157 | €18,585 | +€1,428 | +8.3% |
| Financial charges | 65/66B | €1,449 | €4,228 | +€2,779 | +192% |
| Recurring financial charges | 65 | €1,449 | €4,228 | +€2,779 | +192% |
| Profit (loss) for the period before taxes | 9903 | €90,731 | €2,586 | -€88,145 | -97.1% |
| Income taxes | 67/77 | €25,886 | €643 | -€25,243 | -97.5% |
| Profit (loss) for the period | 9904 | €64,846 | €1,944 | -€62,902 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,846 | €1,944 | -€62,902 | -97.0% |
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 24 October 2026 via checked.be.