Portfolio 2000: 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.
Portfolio 2000
Largest movements
- Receivables within one year +€68,630
up €68,630 (+44.8%), from €153,083 to €221,714
- Financial fixed assets -€50,374
down €50,374 (-56.7%), from €88,778 to €38,404
- Current investments -€47,237
down €47,237 (-31.7%), from €149,109 to €101,873
- Tangible fixed assets -€31,338
down €31,338 (-3.9%), from €799,850 to €768,512
of which Land and buildings: -€27,885
- Profit (loss) carried forward -€35,507
down €35,507 (-36.1%), from -€98,365 to -€133,872
- Financial income +€44,903
up €44,903 (+165%), from €27,214 to €72,117
of which Non-recurring financial income: +€42,500
- Financial charges +€15,775
up €15,775 (+31.7%), from €49,774 to €65,549
of which Non-recurring financial charges: +€15,942
- Other operating charges -€936
down €936 (-15.3%), from €6,114 to €5,179
- Gross operating margin +€851
up €851 (+4.5%), from -€18,813 to -€17,961
- Depreciation -€640
down €640 (-1.8%), from €35,054 to €34,415
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 | €1,195,719 | €1,138,223 | -€57,496 | -4.8% |
| Fixed assets | 21/28 | €888,628 | €806,916 | -€81,712 | -9.2% |
| Tangible fixed assets | 22/27 | €799,850 | €768,512 | -€31,338 | -3.9% |
| Land and buildings | 22 | €795,330 | €767,445 | -€27,885 | -3.5% |
| Furniture and vehicles | 24 | €4,520 | €1,067 | -€3,453 | -76.4% |
| Financial fixed assets | 28 | €88,778 | €38,404 | -€50,374 | -56.7% |
| Current assets | 29/58 | €307,092 | €331,307 | +€24,216 | +7.9% |
| Amounts receivable within one year | 40/41 | €153,083 | €221,714 | +€68,630 | +44.8% |
| Other amounts receivable | 41 | €153,083 | €221,714 | +€68,630 | +44.8% |
| Current investments | 50/53 | €149,109 | €101,873 | -€47,237 | -31.7% |
| Cash at bank and in hand | 54/58 | €4,899 | €6,236 | +€1,338 | +27.3% |
| Deferred charges and accrued income | 490/1 | - | €1,484 | +€1,484 | |
| Total equity and liabilities | 10/49 | €1,195,719 | €1,138,223 | -€57,496 | -4.8% |
| Equity | 10/15 | €1,112,719 | €1,065,337 | -€47,382 | -4.3% |
| Contributions | 10/11 | €253,571 | €253,571 | = | 0.0% |
| Capital | 10 | €253,571 | €253,571 | = | 0.0% |
| Issued capital | 100 | €259,768 | €259,768 | = | 0.0% |
| Uncalled capital | 101 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €957,513 | €945,639 | -€11,875 | -1.2% |
| Non-distributable reserves | 130/1 | €38,844 | €38,844 | = | 0.0% |
| Legal reserve | 130 | €8,096 | €8,096 | = | 0.0% |
| Own shares acquired | 1312 | €30,748 | €30,748 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,796 | €219,921 | -€11,875 | -5.1% |
| Distributable reserves | 133 | €686,873 | €686,873 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,365 | -€133,872 | -€35,507 | -36.1% |
| Provisions and deferred taxes | 16 | €76,000 | €72,041 | -€3,958 | -5.2% |
| Deferred taxes | 168 | €76,000 | €72,041 | -€3,958 | -5.2% |
| Amounts payable | 17/49 | €7,001 | €845 | -€6,156 | -87.9% |
| Amounts payable within one year | 42/48 | €7,001 | €845 | -€6,156 | -87.9% |
| Trade debts | 44 | €6,615 | €490 | -€6,125 | -92.6% |
| Suppliers | 440/4 | €6,615 | €490 | -€6,125 | -92.6% |
| Taxes, remuneration and social security | 45 | €386 | €354 | -€31 | -8.1% |
| Taxes | 450/3 | €386 | €354 | -€31 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,054 | €34,415 | -€640 | -1.8% |
| Other operating charges | 640/8 | €6,114 | €5,179 | -€936 | -15.3% |
| Gross operating margin | 9900 | -€18,813 | -€17,961 | +€851 | +4.5% |
| Operating profit (loss) | 9901 | -€59,981 | -€57,555 | +€2,426 | +4.0% |
| Financial income | 75/76B | €27,214 | €72,117 | +€44,903 | +165% |
| Recurring financial income | 75 | €21,214 | €23,617 | +€2,404 | +11.3% |
| Non-recurring financial income | 76B | €6,000 | €48,500 | +€42,500 | +708% |
| Financial charges | 65/66B | €49,774 | €65,549 | +€15,775 | +31.7% |
| Recurring financial charges | 65 | €1,274 | €1,107 | -€167 | -13.1% |
| Non-recurring financial charges | 66B | €48,500 | €64,442 | +€15,942 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | -€82,540 | -€50,986 | +€31,554 | +38.2% |
| Transfer from deferred taxes | 780 | €3,958 | €3,958 | = | 0.0% |
| Income taxes | 67/77 | - | €354 | +€354 | |
| Profit (loss) for the period | 9904 | -€78,582 | -€47,382 | +€31,200 | +39.7% |
| Transfer from tax-exempt reserves | 789 | €18,259 | €11,875 | -€6,384 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,323 | -€35,507 | +€24,816 | +41.1% |
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 22 October 2026 via checked.be.