PORTSIDE: 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.
PORTSIDE
Largest movements
- Cash +€40,990
up €40,990 (+36.5%), from €112,436 to €153,426
mainly Depreciation (+€31,373) and Receivables within one year (+€19,528)
- Tangible fixed assets -€27,224
down €27,224 (-7.6%), from €358,169 to €330,945
of which Land and buildings: -€28,087
- Receivables within one year -€19,528
down €19,528 (-7.9%), from €248,063 to €228,535
of which Other amounts receivable: -€30,557
- Profit (loss) carried forward -€14,659
down €14,659 (-48.0%), from -€30,516 to -€45,174
- Gross operating margin -€8,012
down €8,012 (-70.2%), from €11,411 to €3,399
- Financial income -€1,359
down €1,359 (-7.4%), from €18,308 to €16,949
- Depreciation -€576
down €576 (-1.8%), from €31,949 to €31,373
- Other operating charges +€488
up €488 (+15.9%), from €3,069 to €3,557
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 | €719,030 | €713,084 | -€5,945 | -0.8% |
| Fixed assets | 21/28 | €358,233 | €331,009 | -€27,224 | -7.6% |
| Tangible fixed assets | 22/27 | €358,169 | €330,945 | -€27,224 | -7.6% |
| Land and buildings | 22 | €348,225 | €320,138 | -€28,087 | -8.1% |
| Furniture and vehicles | 24 | €545 | €3,210 | +€2,665 | +489% |
| Other tangible fixed assets | 26 | €9,399 | €7,597 | -€1,802 | -19.2% |
| Financial fixed assets | 28 | €64 | €64 | = | 0.0% |
| Current assets | 29/58 | €360,797 | €382,076 | +€21,278 | +5.9% |
| Amounts receivable within one year | 40/41 | €248,063 | €228,535 | -€19,528 | -7.9% |
| Trade receivables | 40 | €13,392 | €24,421 | +€11,029 | +82.4% |
| Other amounts receivable | 41 | €234,671 | €204,114 | -€30,557 | -13.0% |
| Cash at bank and in hand | 54/58 | €112,436 | €153,426 | +€40,990 | +36.5% |
| Deferred charges and accrued income | 490/1 | €298 | €115 | -€184 | -61.6% |
| Total equity and liabilities | 10/49 | €719,030 | €713,084 | -€5,945 | -0.8% |
| Equity | 10/15 | €221,884 | €207,226 | -€14,659 | -6.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €102,400 | €102,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €102,400 | €102,400 | = | 0.0% |
| Legal reserve | 130 | €102,400 | €102,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,516 | -€45,174 | -€14,659 | -48.0% |
| Amounts payable | 17/49 | €497,145 | €505,859 | +€8,713 | +1.8% |
| Amounts payable within one year | 42/48 | €497,145 | €505,859 | +€8,713 | +1.8% |
| Trade debts | 44 | €443 | €2,329 | +€1,886 | +426% |
| Suppliers | 440/4 | €443 | €2,329 | +€1,886 | +426% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €496,703 | €503,530 | +€6,827 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,949 | €31,373 | -€576 | -1.8% |
| Other operating charges | 640/8 | €3,069 | €3,557 | +€488 | +15.9% |
| Gross operating margin | 9900 | €11,411 | €3,399 | -€8,012 | -70.2% |
| Operating profit (loss) | 9901 | -€23,607 | -€31,531 | -€7,924 | -33.6% |
| Financial income | 75/76B | €18,308 | €16,949 | -€1,359 | -7.4% |
| Recurring financial income | 75 | €18,308 | €16,949 | -€1,359 | -7.4% |
| Financial charges | 65/66B | €50 | €76 | +€26 | +51.8% |
| Recurring financial charges | 65 | €50 | €76 | +€26 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,349 | -€14,658 | -€9,309 | -174% |
| Income taxes | 67/77 | €1 | €0 | -€0 | -58.4% |
| Profit (loss) for the period | 9904 | -€5,350 | -€14,659 | -€9,309 | -174% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,350 | -€14,659 | -€9,309 | -174% |
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 24 October 2026 via checked.be.