Prof. Poortmans: 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.
Prof. Poortmans
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash +€72,976
up €72,976 (+52.4%), from €139,243 to €212,219
mainly Net result for the year (+€216,564) and Depreciation (+€12,124)
- Receivables within one year +€24,312
up €24,312 (+11.7%), from €207,923 to €232,234
of which Trade receivables: +€20,034
- Tangible fixed assets -€10,885
down €10,885 (-36.0%), from €30,269 to €19,385
- Reserves +€272,948
up €272,948 (+266%), from €102,724 to €375,672
of which Distributable reserves: +€226,638
- Tax, wage and social debts -€60,919
down €60,919 (-99.4%), from €61,314 to €395
- Profit (loss) carried forward -€56,384
down €56,384 (-24.9%), from €226,638 to €170,254
- Financial income -€130,112
down €130,112 (-99.9%), from €130,196 to €84
- Gross operating margin +€12,132
up €12,132 (+4.3%), from €283,424 to €295,556
- Taxes -€5,600
down €5,600 (-8.0%), from €70,322 to €64,722
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 | €399,863 | €560,542 | +€160,679 | +40.2% |
| Fixed assets | 21/28 | €30,269 | €19,385 | -€10,885 | -36.0% |
| Tangible fixed assets | 22/27 | €30,269 | €19,385 | -€10,885 | -36.0% |
| Furniture and vehicles | 24 | €30,269 | €19,385 | -€10,885 | -36.0% |
| Current assets | 29/58 | €369,593 | €541,157 | +€171,564 | +46.4% |
| Amounts receivable within one year | 40/41 | €207,923 | €232,234 | +€24,312 | +11.7% |
| Trade receivables | 40 | €178,949 | €198,982 | +€20,034 | +11.2% |
| Other amounts receivable | 41 | €28,974 | €33,252 | +€4,278 | +14.8% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €139,243 | €212,219 | +€72,976 | +52.4% |
| Deferred charges and accrued income | 490/1 | €22,428 | €21,704 | -€724 | -3.2% |
| Total equity and liabilities | 10/49 | €399,863 | €560,542 | +€160,679 | +40.2% |
| Equity | 10/15 | €334,362 | €550,926 | +€216,564 | +64.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,724 | €375,672 | +€272,948 | +266% |
| Tax-exempt reserves | 132 | €102,724 | €149,034 | +€46,310 | +45.1% |
| Distributable reserves | 133 | - | €226,638 | +€226,638 | |
| Profit (loss) carried forward | 14 | €226,638 | €170,254 | -€56,384 | -24.9% |
| Amounts payable | 17/49 | €65,501 | €9,616 | -€55,885 | -85.3% |
| Amounts payable within one year | 42/48 | €65,501 | €8,790 | -€56,711 | -86.6% |
| Trade debts | 44 | €3,764 | €6,650 | +€2,886 | +76.7% |
| Suppliers | 440/4 | €3,764 | €6,650 | +€2,886 | +76.7% |
| Taxes, remuneration and social security | 45 | €61,314 | €395 | -€60,919 | -99.4% |
| Taxes | 450/3 | €61,314 | €395 | -€60,919 | -99.4% |
| Other amounts payable | 47/48 | €423 | €1,745 | +€1,322 | +313% |
| Accrued charges and deferred income | 492/3 | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,989 | €12,124 | +€136 | +1.1% |
| Other operating charges | 640/8 | €1,782 | €2,075 | +€292 | +16.4% |
| Gross operating margin | 9900 | €283,424 | €295,556 | +€12,132 | +4.3% |
| Operating profit (loss) | 9901 | €269,653 | €281,357 | +€11,704 | +4.3% |
| Financial income | 75/76B | €130,196 | €84 | -€130,112 | -99.9% |
| Recurring financial income | 75 | €130,196 | €84 | -€130,112 | -99.9% |
| Financial charges | 65/66B | €165 | €154 | -€11 | -6.5% |
| Recurring financial charges | 65 | €165 | €154 | -€11 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €399,684 | €281,286 | -€118,398 | -29.6% |
| Income taxes | 67/77 | €70,322 | €64,722 | -€5,600 | -8.0% |
| Profit (loss) for the period | 9904 | €329,362 | €216,564 | -€112,798 | -34.2% |
| Transfer to tax-exempt reserves | 689 | €102,724 | €46,310 | -€56,414 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €226,638 | €170,254 | -€56,384 | -24.9% |
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 21 October 2026 via checked.be.