PORZELACK.BEL: 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.
PORZELACK.BEL
Largest movements
- Cash +€28,791
up €28,791 (+133%), from €21,709 to €50,500
mainly Net result for the year (+€32,305) and Trade debts (+€20,997)
- Tangible fixed assets +€23,310
up €23,310 (+7,697%), from €303 to €23,613
- Receivables within one year -€1,898
down €1,898 (-2.8%), from €68,863 to €66,964
of which Trade receivables: -€2,499
- Reserves +€32,305
up €32,305 (+136%), from €23,687 to €55,992
- Trade debts +€20,997
up €20,997 (+395%), from €5,317 to €26,315
- Debts after one year -€8,924
down €8,924 (-35.9%), from €24,889 to €15,966
- Current portion of long-term debt +€4,228
up €4,228 (+25.8%), from €16,380 to €20,608
- Gross operating margin +€9,102
up €9,102 (+26.0%), from €34,953 to €44,055
- Write-downs -€8,012
down €8,012, from €6,681 to -€1,330
- Depreciation -€5,941
down €5,941 (-89.6%), from €6,631 to €690
- Other operating charges -€2,897
down €2,897 (-31.3%), from €9,252 to €6,356
- Taxes +€2,569
up €2,569 (+306%), from €841 to €3,410
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 | €120,466 | €167,687 | +€47,221 | +39.2% |
| Fixed assets | 21/28 | €423 | €23,733 | +€23,310 | +5,512% |
| Tangible fixed assets | 22/27 | €303 | €23,613 | +€23,310 | +7,697% |
| Furniture and vehicles | 24 | €303 | €23,613 | +€23,310 | +7,697% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €120,043 | €143,954 | +€23,911 | +19.9% |
| Stocks and contracts in progress | 3 | €27,600 | €25,990 | -€1,611 | -5.8% |
| Stocks | 30/36 | €27,600 | €25,990 | -€1,611 | -5.8% |
| Amounts receivable within one year | 40/41 | €68,863 | €66,964 | -€1,898 | -2.8% |
| Trade receivables | 40 | €67,410 | €64,911 | -€2,499 | -3.7% |
| Other amounts receivable | 41 | €1,452 | €2,053 | +€601 | +41.4% |
| Cash at bank and in hand | 54/58 | €21,709 | €50,500 | +€28,791 | +133% |
| Deferred charges and accrued income | 490/1 | €1,872 | €500 | -€1,372 | -73.3% |
| Total equity and liabilities | 10/49 | €120,466 | €167,687 | +€47,221 | +39.2% |
| Equity | 10/15 | €68,687 | €100,992 | +€32,305 | +47.0% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €23,687 | €55,992 | +€32,305 | +136% |
| Distributable reserves | 133 | €23,687 | €55,992 | +€32,305 | +136% |
| Amounts payable | 17/49 | €51,779 | €66,694 | +€14,916 | +28.8% |
| Amounts payable after more than one year | 17 | €24,889 | €15,966 | -€8,924 | -35.9% |
| Financial debts | 170/4 | €24,889 | €15,966 | -€8,924 | -35.9% |
| Amounts payable within one year | 42/48 | €26,889 | €50,729 | +€23,839 | +88.7% |
| Current portion of amounts payable after more than one year | 42 | €16,380 | €20,608 | +€4,228 | +25.8% |
| Trade debts | 44 | €5,317 | €26,315 | +€20,997 | +395% |
| Suppliers | 440/4 | €5,317 | €26,315 | +€20,997 | +395% |
| Taxes, remuneration and social security | 45 | €4,796 | €3,410 | -€1,386 | -28.9% |
| Taxes | 450/3 | €4,796 | €3,410 | -€1,386 | -28.9% |
| Other amounts payable | 47/48 | €396 | €396 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,631 | €690 | -€5,941 | -89.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,681 | -€1,330 | -€8,012 | |
| Other operating charges | 640/8 | €9,252 | €6,356 | -€2,897 | -31.3% |
| Gross operating margin | 9900 | €34,953 | €44,055 | +€9,102 | +26.0% |
| Operating profit (loss) | 9901 | €12,388 | €38,339 | +€25,951 | +209% |
| Financial income | 75/76B | €34 | €76 | +€42 | +125% |
| Recurring financial income | 75 | €34 | €76 | +€42 | +125% |
| Financial charges | 65/66B | €3,173 | €2,700 | -€474 | -14.9% |
| Recurring financial charges | 65 | €3,173 | €2,700 | -€474 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €9,248 | €35,715 | +€26,467 | +286% |
| Income taxes | 67/77 | €841 | €3,410 | +€2,569 | +306% |
| Profit (loss) for the period | 9904 | €8,408 | €32,305 | +€23,897 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €8,408 | €32,305 | +€23,897 | +284% |
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 27 October 2026 via checked.be.