PORTIA: what changed
What changed
PORTIA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€18,022
2024 · €14,096+€3,925
Equity
€40,530
2024 · €22,508+€18,022
Cash
€10,831
2024 · €3,285+€7,546
Balance sheet total
€408,787
2024 · €430,885-€22,098
Largest movements
Assets
- Tangible fixed assets -€30,217
down €30,217 (-7.1%), from €427,398 to €397,181
- Cash +€7,546
up €7,546 (+230%), from €3,285 to €10,831
mainly Depreciation (+€30,217) and Net result for the year (+€18,022)
Equity and liabilities
- Debts after one year -€50,069
down €50,069 (-17.2%), from €291,220 to €241,150
- Reserves +€18,022
up €18,022 (+461%), from €3,908 to €21,930
- Trade debts +€7,425
up €7,425 (+640%), from €1,159 to €8,584
Income statement
- Gross operating margin +€4,393
up €4,393 (+8.2%), from €53,413 to €57,806
- Taxes +€808
new in 2025: €808
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,096
Gross operating margin
+€4,393
Depreciation
+€89
Other operating charges
-€84
Financial charges
+€336
Taxes
-€808
Result 2025
€18,022
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€56,898
Investment
€0
Financing
-€49,352
Cash 2024
€3,285
From operations (derived)
+€56,898
Net result for the year
+€18,022
Depreciation
+€30,217
Receivables within one year
-€545
Deferred charges and accrued income
-€27
Trade debts
+€7,425
Tax, wage and social debts
+€808
Other debts
+€999
Financing
-€49,352
Debts after one year
-€50,069
Current portion of long-term debt
+€717
Cash 2025
€10,831
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €430,885 | €408,787 | -€22,098 | -5.1% |
| Fixed assets | 21/28 | €427,398 | €397,181 | -€30,217 | -7.1% |
| Tangible fixed assets | 22/27 | €427,398 | €397,181 | -€30,217 | -7.1% |
| Land and buildings | 22 | €427,398 | €397,181 | -€30,217 | -7.1% |
| Current assets | 29/58 | €3,487 | €11,606 | +€8,118 | +233% |
| Amounts receivable within one year | 40/41 | €202 | €747 | +€545 | +270% |
| Other amounts receivable | 41 | €202 | €747 | +€545 | +270% |
| Cash at bank and in hand | 54/58 | €3,285 | €10,831 | +€7,546 | +230% |
| Deferred charges and accrued income | 490/1 | - | €27 | +€27 | |
| Total equity and liabilities | 10/49 | €430,885 | €408,787 | -€22,098 | -5.1% |
| Equity | 10/15 | €22,508 | €40,530 | +€18,022 | +80.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,908 | €21,930 | +€18,022 | +461% |
| Distributable reserves | 133 | €3,908 | €21,930 | +€18,022 | +461% |
| Amounts payable | 17/49 | €408,377 | €368,257 | -€40,120 | -9.8% |
| Amounts payable after more than one year | 17 | €291,220 | €241,150 | -€50,069 | -17.2% |
| Financial debts | 170/4 | €291,220 | €241,150 | -€50,069 | -17.2% |
| Amounts payable within one year | 42/48 | €117,157 | €127,107 | +€9,949 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €49,352 | €50,069 | +€717 | +1.5% |
| Trade debts | 44 | €1,159 | €8,584 | +€7,425 | +640% |
| Suppliers | 440/4 | €1,159 | €8,584 | +€7,425 | +640% |
| Taxes, remuneration and social security | 45 | - | €808 | +€808 | |
| Taxes | 450/3 | - | €808 | +€808 | |
| Other amounts payable | 47/48 | €66,646 | €67,645 | +€999 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,306 | €30,217 | -€89 | -0.3% |
| Other operating charges | 640/8 | €2,529 | €2,613 | +€84 | +3.3% |
| Gross operating margin | 9900 | €53,413 | €57,806 | +€4,393 | +8.2% |
| Operating profit (loss) | 9901 | €20,578 | €24,976 | +€4,398 | +21.4% |
| Financial charges | 65/66B | €6,482 | €6,147 | -€336 | -5.2% |
| Recurring financial charges | 65 | €6,482 | €6,147 | -€336 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €14,096 | €18,829 | +€4,733 | +33.6% |
| Income taxes | 67/77 | - | €808 | +€808 | |
| Profit (loss) for the period | 9904 | €14,096 | €18,022 | +€3,925 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,096 | €18,022 | +€3,925 | +27.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.