PORTICO: 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.
PORTICO
Largest movements
- Cash +€60,714
up €60,714 (+27.2%), from €223,382 to €284,096
mainly Net result for the year (+€158,681) and Trade debts (+€56,799)
- Receivables within one year +€24,549
up €24,549 (+6.9%), from €356,250 to €380,798
of which Trade receivables: +€49,578
- Tangible fixed assets -€21,272
down €21,272 (-12.2%), from €174,189 to €152,918
of which Other tangible fixed assets: -€25,915
- Trade debts +€56,799
up €56,799 (+25.5%), from €222,805 to €279,604
- Tax, wage and social debts +€27,515
up €27,515 (+387%), from €7,118 to €34,633
of which Taxes: +€27,752
- Debts after one year -€23,379
no longer reported in 2025 (was €23,379)
- Other debts +€11,157
up €11,157 (+7.4%), from €150,000 to €161,157
- Gross operating margin +€70,520
up €70,520 (+41.7%), from €169,228 to €239,748
- Staff costs -€2,766
down €2,766 (-44.9%), from €6,158 to €3,392
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 | €756,007 | €823,737 | +€67,730 | +9.0% |
| Fixed assets | 21/28 | €174,519 | €153,248 | -€21,272 | -12.2% |
| Tangible fixed assets | 22/27 | €174,189 | €152,918 | -€21,272 | -12.2% |
| Plant, machinery and equipment | 23 | - | €982 | +€982 | |
| Furniture and vehicles | 24 | €21,858 | €25,520 | +€3,662 | +16.8% |
| Other tangible fixed assets | 26 | €152,331 | €126,416 | -€25,915 | -17.0% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €581,488 | €670,489 | +€89,001 | +15.3% |
| Amounts receivable within one year | 40/41 | €356,250 | €380,798 | +€24,549 | +6.9% |
| Trade receivables | 40 | €331,163 | €380,741 | +€49,578 | +15.0% |
| Other amounts receivable | 41 | €25,086 | €57 | -€25,029 | -99.8% |
| Cash at bank and in hand | 54/58 | €223,382 | €284,096 | +€60,714 | +27.2% |
| Deferred charges and accrued income | 490/1 | €1,856 | €5,595 | +€3,739 | +201% |
| Total equity and liabilities | 10/49 | €756,007 | €823,737 | +€67,730 | +9.0% |
| Equity | 10/15 | €327,439 | €324,963 | -€2,476 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,979 | €304,503 | -€2,476 | -0.8% |
| Amounts payable | 17/49 | €428,568 | €498,773 | +€70,205 | +16.4% |
| Amounts payable after more than one year | 17 | €23,379 | - | -€23,379 | |
| Financial debts | 170/4 | €23,379 | - | -€23,379 | |
| Amounts payable within one year | 42/48 | €405,189 | €498,773 | +€93,585 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €25,265 | €23,379 | -€1,886 | -7.5% |
| Trade debts | 44 | €222,805 | €279,604 | +€56,799 | +25.5% |
| Suppliers | 440/4 | €222,805 | €279,604 | +€56,799 | +25.5% |
| Taxes, remuneration and social security | 45 | €7,118 | €34,633 | +€27,515 | +387% |
| Taxes | 450/3 | €6,791 | €34,543 | +€27,752 | +409% |
| Remuneration and social security | 454/9 | €327 | €90 | -€237 | -72.4% |
| Other amounts payable | 47/48 | €150,000 | €161,157 | +€11,157 | +7.4% |
| Remuneration, social security and pensions | 62 | €6,158 | €3,392 | -€2,766 | -44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,154 | €34,856 | +€702 | +2.1% |
| Other operating charges | 640/8 | €39,676 | €41,957 | +€2,281 | +5.7% |
| Gross operating margin | 9900 | €169,228 | €239,748 | +€70,520 | +41.7% |
| Operating profit (loss) | 9901 | €89,240 | €159,543 | +€70,303 | +78.8% |
| Financial income | 75/76B | €88 | €259 | +€170 | +193% |
| Recurring financial income | 75 | €88 | €259 | +€170 | +193% |
| Financial charges | 65/66B | €2,766 | €1,120 | -€1,646 | -59.5% |
| Recurring financial charges | 65 | €2,766 | €1,120 | -€1,646 | -59.5% |
| Profit (loss) for the period before taxes | 9903 | €86,562 | €158,681 | +€72,119 | +83.3% |
| Profit (loss) for the period | 9904 | €86,562 | €158,681 | +€72,119 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €86,562 | €158,681 | +€72,119 | +83.3% |
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.