Portgoed: 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.
Portgoed
Largest movements
- Intangible fixed assets +€109,623
new in 2025: €109,623
- Cash +€11,149
up €11,149 (+52.2%), from €21,375 to €32,524
mainly Other debts (+€93,776) and Depreciation (+€11,162)
- Receivables within one year -€9,409
down €9,409 (-37.0%), from €25,461 to €16,053
of which Trade receivables: -€5,560
- Tangible fixed assets -€5,892
down €5,892 (-15.9%), from €37,114 to €31,222
of which Leasing and similar rights: -€7,158
- Other debts +€93,776
up €93,776, from €0 to €93,776
- Reserves +€10,850
up €10,850 (+26.3%), from €41,300 to €52,150
- Debts after one year -€6,884
down €6,884 (-30.8%), from €22,354 to €15,471
- Tax, wage and social debts +€5,804
up €5,804 (+365%), from €1,590 to €7,394
of which Taxes: +€3,304
- Depreciation +€1,508
up €1,508 (+15.6%), from €9,653 to €11,162
- Gross operating margin +€1,463
up €1,463 (+5.5%), from €26,424 to €27,887
- Other operating charges +€1,067
up €1,067 (+105%), from €1,021 to €2,087
- Taxes -€554
down €554 (-19.1%), from €2,898 to €2,343
- Financial charges -€354
down €354 (-20.1%), from €1,762 to €1,408
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 | €83,951 | €189,422 | +€105,471 | +126% |
| Fixed assets | 21/28 | €37,114 | €140,845 | +€103,731 | +279% |
| Intangible fixed assets | 21 | - | €109,623 | +€109,623 | |
| Tangible fixed assets | 22/27 | €37,114 | €31,222 | -€5,892 | -15.9% |
| Plant, machinery and equipment | 23 | €7,018 | €8,865 | +€1,847 | +26.3% |
| Furniture and vehicles | 24 | €1,523 | €942 | -€581 | -38.1% |
| Leasing and similar rights | 25 | €28,573 | €21,415 | -€7,158 | -25.1% |
| Current assets | 29/58 | €46,836 | €48,577 | +€1,740 | +3.7% |
| Amounts receivable within one year | 40/41 | €25,461 | €16,053 | -€9,409 | -37.0% |
| Trade receivables | 40 | €18,212 | €12,653 | -€5,560 | -30.5% |
| Other amounts receivable | 41 | €7,249 | €3,400 | -€3,849 | -53.1% |
| Cash at bank and in hand | 54/58 | €21,375 | €32,524 | +€11,149 | +52.2% |
| Total equity and liabilities | 10/49 | €83,951 | €189,422 | +€105,471 | +126% |
| Equity | 10/15 | €43,810 | €54,700 | +€10,890 | +24.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €41,300 | €52,150 | +€10,850 | +26.3% |
| Distributable reserves | 133 | €41,300 | €52,150 | +€10,850 | +26.3% |
| Profit (loss) carried forward | 14 | €10 | €50 | +€40 | +383% |
| Amounts payable | 17/49 | €40,140 | €134,722 | +€94,581 | +236% |
| Amounts payable after more than one year | 17 | €22,354 | €15,471 | -€6,884 | -30.8% |
| Financial debts | 170/4 | €22,354 | €15,471 | -€6,884 | -30.8% |
| Amounts payable within one year | 42/48 | €17,786 | €119,251 | +€101,465 | +570% |
| Current portion of amounts payable after more than one year | 42 | €6,598 | €6,897 | +€300 | +4.5% |
| Financial debts | 43 | €6,094 | €6,094 | = | 0.0% |
| Credit institutions | 430/8 | €6,094 | €6,094 | = | 0.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €3,505 | €5,090 | +€1,585 | +45.2% |
| Suppliers | 440/4 | €3,505 | €5,090 | +€1,585 | +45.2% |
| Taxes, remuneration and social security | 45 | €1,590 | €7,394 | +€5,804 | +365% |
| Taxes | 450/3 | €1,590 | €4,894 | +€3,304 | +208% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €0 | €93,776 | +€93,776 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,653 | €11,162 | +€1,508 | +15.6% |
| Other operating charges | 640/8 | €1,021 | €2,087 | +€1,067 | +105% |
| Gross operating margin | 9900 | €26,424 | €27,887 | +€1,463 | +5.5% |
| Operating profit (loss) | 9901 | €15,751 | €14,638 | -€1,112 | -7.1% |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €1,762 | €1,408 | -€354 | -20.1% |
| Recurring financial charges | 65 | €1,762 | €1,408 | -€354 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €13,988 | €13,233 | -€755 | -5.4% |
| Income taxes | 67/77 | €2,898 | €2,343 | -€554 | -19.1% |
| Profit (loss) for the period | 9904 | €11,091 | €10,890 | -€201 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,091 | €10,890 | -€201 | -1.8% |
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 17 October 2026 via checked.be.