PORTILOG: 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.
What changed
PORTILOG
NACE 85.592, Vocational training
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€152,523
2024 · €176,320-€328,843
Equity
€2.1m
2024 · €2.2m-€152,523
Cash
€34,872
2024 · €73,420-€38,549
Balance sheet total
€2.4m
2024 · €2.5m-€110,779
Largest movements
Assets
- Receivables within one year -€94,416
down €94,416 (-31.9%), from €296,186 to €201,770
of which Trade receivables: -€142,830
- Cash -€38,549
down €38,549 (-52.5%), from €73,420 to €34,872
mainly Net result for the year (-€152,523) and Deferred charges and accrued income (-€21,021)
Equity and liabilities
- Profit (loss) carried forward -€152,523
down €152,523 (-16.7%), from €912,855 to €760,331
- Trade debts +€48,455
up €48,455 (+27.3%), from €177,493 to €225,948
Income statement
- Gross operating margin -€342,475
down €342,475 (-55.3%), from €619,331 to €276,856
- Taxes -€68,341
down €68,341, from €63,789 to -€4,552
- Staff costs +€36,881
up €36,881 (+8.5%), from €432,776 to €469,656
- Write-downs +€10,531
new in 2025: €10,531
- Financial income -€7,436
down €7,436 (-12.3%), from €60,243 to €52,807
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.
Result 2024
€176,320
Gross operating margin
-€342,475
Staff costs
-€36,881
Depreciation
+€549
Write-downs
-€10,531
Provisions
-€117
Other operating charges
-€602
Other operating items
+€28
Financial income
-€7,436
Financial charges
+€282
Taxes
+€68,341
Result 2025
-€152,523
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€34,549
Investment
-€4,000
Financing
€0
Cash 2024
€73,420
From operations (derived)
-€34,549
Net result for the year
-€152,523
Depreciation
+€2,835
Receivables within one year
+€94,416
Deferred charges and accrued income
-€21,021
Provisions
+€863
Trade debts
+€48,455
Tax, wage and social debts
+€2,504
Other debts
-€3,380
Accrued charges and deferred income
-€6,698
Investment (derived)
-€4,000
Investment in fixed assets (net)
+€1,000
Current investments
-€5,000
Cash 2025
€34,872
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,522,152 | €2,411,373 | -€110,779 | -4.4% |
| Fixed assets | 21/28 | €42,942 | €39,107 | -€3,835 | -8.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €41,942 | €39,107 | -€2,835 | -6.8% |
| Furniture and vehicles | 24 | €7,489 | €4,654 | -€2,835 | -37.9% |
| Assets under construction and advance payments | 27 | €34,452 | €34,452 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €2,479,210 | €2,372,267 | -€106,943 | -4.3% |
| Amounts receivable after more than one year | 29 | €680,000 | €680,000 | = | 0.0% |
| Other amounts receivable | 291 | €680,000 | €680,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €296,186 | €201,770 | -€94,416 | -31.9% |
| Trade receivables | 40 | €254,649 | €111,819 | -€142,830 | -56.1% |
| Other amounts receivable | 41 | €41,536 | €89,950 | +€48,414 | +117% |
| Current investments | 50/53 | €1,420,000 | €1,425,000 | +€5,000 | +0.4% |
| Cash at bank and in hand | 54/58 | €73,420 | €34,872 | -€38,549 | -52.5% |
| Deferred charges and accrued income | 490/1 | €9,604 | €30,625 | +€21,021 | +219% |
| Total equity and liabilities | 10/49 | €2,522,152 | €2,411,373 | -€110,779 | -4.4% |
| Equity | 10/15 | €2,229,297 | €2,076,773 | -€152,523 | -6.8% |
| Contributions | 10/11 | €19,400 | €19,400 | = | 0.0% |
| Reserves | 13 | €1,297,042 | €1,297,042 | = | 0.0% |
| Non-distributable reserves | 130/1 | €972,499 | €972,499 | = | 0.0% |
| Other | 1319 | €972,499 | €972,499 | = | 0.0% |
| Distributable reserves | 133 | €324,543 | €324,543 | = | 0.0% |
| Profit (loss) carried forward | 14 | €912,855 | €760,331 | -€152,523 | -16.7% |
| Provisions and deferred taxes | 16 | €5,453 | €6,317 | +€863 | +15.8% |
| Provisions for liabilities and charges | 160/5 | €5,453 | €6,317 | +€863 | +15.8% |
| Pensions and similar obligations | 160 | €5,453 | €6,317 | +€863 | +15.8% |
| Amounts payable | 17/49 | €287,402 | €328,283 | +€40,881 | +14.2% |
| Amounts payable within one year | 42/48 | €250,510 | €298,089 | +€47,579 | +19.0% |
| Trade debts | 44 | €177,493 | €225,948 | +€48,455 | +27.3% |
| Suppliers | 440/4 | €177,493 | €225,948 | +€48,455 | +27.3% |
| Taxes, remuneration and social security | 45 | €66,789 | €69,293 | +€2,504 | +3.7% |
| Taxes | 450/3 | €10,271 | €12,781 | +€2,511 | +24.4% |
| Remuneration and social security | 454/9 | €56,518 | €56,512 | -€7 | 0.0% |
| Other amounts payable | 47/48 | €6,228 | €2,848 | -€3,380 | -54.3% |
| Accrued charges and deferred income | 492/3 | €36,892 | €30,194 | -€6,698 | -18.2% |
| Non-recurring operating income | 76A | €9,744 | €2,709 | -€7,036 | -72.2% |
| Remuneration, social security and pensions | 62 | €432,776 | €469,656 | +€36,881 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,384 | €2,835 | -€549 | -16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,531 | +€10,531 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €746 | €863 | +€117 | +15.7% |
| Other operating charges | 640/8 | €485 | €1,088 | +€602 | +124% |
| Non-recurring operating charges | 66A | €93 | €65 | -€28 | -29.8% |
| Gross operating margin | 9900 | €619,331 | €276,856 | -€342,475 | -55.3% |
| Operating profit (loss) | 9901 | €181,847 | -€208,183 | -€390,030 | |
| Financial income | 75/76B | €60,243 | €52,807 | -€7,436 | -12.3% |
| Recurring financial income | 75 | €60,243 | €52,807 | -€7,436 | -12.3% |
| Financial charges | 65/66B | €1,982 | €1,700 | -€282 | -14.2% |
| Recurring financial charges | 65 | €1,982 | €1,700 | -€282 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €240,109 | -€157,075 | -€397,184 | |
| Income taxes | 67/77 | €63,789 | -€4,552 | -€68,341 | |
| Profit (loss) for the period | 9904 | €176,320 | -€152,523 | -€328,843 | |
| Profit (loss) for the period to be appropriated | 9905 | €176,320 | -€152,523 | -€328,843 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.