PORTOGALO: 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.
PORTOGALO
Largest movements
- Deferred charges and accrued income +€2,431
new in 2025: €2,431
- Cash +€1,914
up €1,914 (+25.5%), from €7,503 to €9,417
mainly Net result for the year (+€3,476) and Trade debts (+€1,862)
- Tangible fixed assets -€1,682
down €1,682 (-34.5%), from €4,871 to €3,189
of which Plant, machinery and equipment: -€1,007
- Profit (loss) carried forward +€3,476
up €3,476 (+5.8%), from -€59,680 to -€56,204
- Debts after one year -€3,000
down €3,000 (-7.3%), from €41,000 to €38,000
- Trade debts +€1,862
up €1,862 (+54.9%), from €3,390 to €5,252
- Other debts +€430
up €430 (+28.5%), from €1,512 to €1,942
- Staff costs -€43,696
down €43,696, from €41,562 to -€2,134
- Gross operating margin -€41,495
down €41,495 (-85.9%), from €48,287 to €6,792
- Financial income +€979
up €979 (+1,605%), from €61 to €1,040
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 | €17,960 | €20,611 | +€2,651 | +14.8% |
| Fixed assets | 21/28 | €9,171 | €7,489 | -€1,682 | -18.3% |
| Tangible fixed assets | 22/27 | €4,871 | €3,189 | -€1,682 | -34.5% |
| Plant, machinery and equipment | 23 | €2,345 | €1,338 | -€1,007 | -42.9% |
| Other tangible fixed assets | 26 | €2,526 | €1,851 | -€675 | -26.7% |
| Financial fixed assets | 28 | €4,300 | €4,300 | = | 0.0% |
| Current assets | 29/58 | €8,789 | €13,122 | +€4,333 | +49.3% |
| Amounts receivable within one year | 40/41 | €1,286 | €1,273 | -€13 | -1.0% |
| Other amounts receivable | 41 | €1,286 | €1,273 | -€13 | -1.0% |
| Cash at bank and in hand | 54/58 | €7,503 | €9,417 | +€1,914 | +25.5% |
| Deferred charges and accrued income | 490/1 | - | €2,431 | +€2,431 | |
| Total equity and liabilities | 10/49 | €17,960 | €20,611 | +€2,651 | +14.8% |
| Equity | 10/15 | -€36,518 | -€33,042 | +€3,476 | +9.5% |
| Contributions | 10/11 | €18,592 | €18,592 | +€0 | 0.0% |
| Reserves | 13 | €4,570 | €4,570 | -€0 | 0.0% |
| Distributable reserves | 133 | €4,570 | €4,570 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€59,680 | -€56,204 | +€3,476 | +5.8% |
| Amounts payable | 17/49 | €54,478 | €53,653 | -€825 | -1.5% |
| Amounts payable after more than one year | 17 | €41,000 | €38,000 | -€3,000 | -7.3% |
| Other amounts payable | 178/9 | €41,000 | €38,000 | -€3,000 | -7.3% |
| Amounts payable within one year | 42/48 | €13,478 | €15,653 | +€2,175 | +16.1% |
| Trade debts | 44 | €3,390 | €5,252 | +€1,862 | +54.9% |
| Suppliers | 440/4 | €3,390 | €5,252 | +€1,862 | +54.9% |
| Taxes, remuneration and social security | 45 | €8,576 | €8,459 | -€117 | -1.4% |
| Taxes | 450/3 | €1,170 | €3,951 | +€2,781 | +238% |
| Remuneration and social security | 454/9 | €7,406 | €4,508 | -€2,898 | -39.1% |
| Other amounts payable | 47/48 | €1,512 | €1,942 | +€430 | +28.5% |
| Remuneration, social security and pensions | 62 | €41,562 | -€2,134 | -€43,696 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,647 | €1,682 | +€35 | +2.1% |
| Other operating charges | 640/8 | €2,654 | €2,697 | +€43 | +1.6% |
| Gross operating margin | 9900 | €48,287 | €6,792 | -€41,495 | -85.9% |
| Operating profit (loss) | 9901 | €2,424 | €4,548 | +€2,124 | +87.6% |
| Financial income | 75/76B | €61 | €1,040 | +€979 | +1,605% |
| Recurring financial income | 75 | €61 | €1,040 | +€979 | +1,605% |
| Financial charges | 65/66B | €2,046 | €1,922 | -€124 | -6.0% |
| Recurring financial charges | 65 | €2,046 | €1,922 | -€124 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €439 | €3,665 | +€3,226 | +735% |
| Income taxes | 67/77 | €183 | €189 | +€6 | +3.4% |
| Profit (loss) for the period | 9904 | €256 | €3,476 | +€3,220 | +1,258% |
| Profit (loss) for the period to be appropriated | 9905 | €256 | €3,476 | +€3,220 | +1,258% |
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 30 October 2026 via checked.be.