PORTHOS: 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.
PORTHOS
Largest movements
- Receivables within one year +€199,384
up €199,384 (+16478.0%), from €1,210 to €200,594
of which Other amounts receivable: +€200,594
- Other debts +€227,348
up €227,348 (+73.6%), from €308,933 to €536,281
- Debts after one year -€15,786
down €15,786 (-5.6%), from €282,556 to €266,770
- Trade debts -€8,672
down €8,672 (-33.6%), from €25,805 to €17,133
- Profit (loss) carried forward -€8,436
down €8,436 (-4.1%), from -€204,689 to -€213,125
- Gross operating margin +€35,302
up €35,302, from -€13,714 to €21,588
- Financial charges +€5,055
up €5,055 (+18.8%), from €26,931 to €31,987
- Financial income +€4,199
up €4,199 (+121.6%), from €3,454 to €7,654
- Other operating charges -€668
down €668 (-31.9%), from €2,090 to €1,423
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 | €491,701 | €686,819 | +€195,118 | +39.7% |
| Fixed assets | 21/28 | €489,261 | €484,992 | -€4,268 | -0.9% |
| Tangible fixed assets | 22/27 | €489,261 | €484,992 | -€4,268 | -0.9% |
| Land and buildings | 22 | €489,261 | €484,992 | -€4,268 | -0.9% |
| Current assets | 29/58 | €2,440 | €201,826 | +€199,386 | +8170.6% |
| Amounts receivable within one year | 40/41 | €1,210 | €200,594 | +€199,384 | +16478.0% |
| Trade receivables | 40 | €1,210 | - | -€1,210 | |
| Other amounts receivable | 41 | - | €200,594 | +€200,594 | |
| Cash at bank and in hand | 54/58 | €1,230 | €1,233 | +€2 | +0.2% |
| Total equity and liabilities | 10/49 | €491,701 | €686,819 | +€195,118 | +39.7% |
| Equity | 10/15 | -€140,716 | -€149,152 | -€8,436 | -6.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€204,689 | -€213,125 | -€8,436 | -4.1% |
| Amounts payable | 17/49 | €632,417 | €835,970 | +€203,554 | +32.2% |
| Amounts payable after more than one year | 17 | €282,556 | €266,770 | -€15,786 | -5.6% |
| Financial debts | 170/4 | €282,556 | €266,770 | -€15,786 | -5.6% |
| Amounts payable within one year | 42/48 | €349,861 | €569,201 | +€219,340 | +62.7% |
| Current portion of amounts payable after more than one year | 42 | €15,123 | €15,786 | +€663 | +4.4% |
| Trade debts | 44 | €25,805 | €17,133 | -€8,672 | -33.6% |
| Suppliers | 440/4 | €25,805 | €17,133 | -€8,672 | -33.6% |
| Other amounts payable | 47/48 | €308,933 | €536,281 | +€227,348 | +73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,236 | €4,268 | +€33 | +0.8% |
| Other operating charges | 640/8 | €2,090 | €1,423 | -€668 | -31.9% |
| Gross operating margin | 9900 | -€13,714 | €21,588 | +€35,302 | |
| Operating profit (loss) | 9901 | -€20,039 | €15,897 | +€35,936 | |
| Financial income | 75/76B | €3,454 | €7,654 | +€4,199 | +121.6% |
| Recurring financial income | 75 | €3,454 | €7,654 | +€4,199 | +121.6% |
| Financial charges | 65/66B | €26,931 | €31,987 | +€5,055 | +18.8% |
| Recurring financial charges | 65 | €26,931 | €31,987 | +€5,055 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | -€43,516 | -€8,436 | +€35,080 | +80.6% |
| Profit (loss) for the period | 9904 | -€43,516 | -€8,436 | +€35,080 | +80.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,516 | -€8,436 | +€35,080 | +80.6% |
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 6 October 2026 via checked.be.