TORI PORTAILS: 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.
TORI PORTAILS
Largest movements
- Cash +€194,951
up €194,951 (+119%), from €163,155 to €358,106
mainly Net result for the year (+€155,156) and Trade debts (+€68,075)
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets -€58,213
down €58,213 (-10.1%), from €574,703 to €516,490
of which Land and buildings: -€37,069
- Stocks and contracts -€48,027
down €48,027 (-29.9%), from €160,746 to €112,719
- Receivables within one year -€17,136
down €17,136 (-11.9%), from €143,616 to €126,479
of which Trade receivables: -€34,804
- Reserves +€148,620
up €148,620 (+182%), from €81,860 to €230,480
of which Tax-exempt reserves: +€92,620
- Trade debts +€68,075
up €68,075 (+51.4%), from €132,462 to €200,538
- Debts after one year -€57,786
down €57,786 (-11.5%), from €504,121 to €446,335
- Other debts +€13,177
up €13,177 (+29.3%), from €45,000 to €58,177
- Gross operating margin +€182,126
up €182,126 (+73.6%), from €247,310 to €429,436
- Staff costs +€93,584
up €93,584 (+263%), from €35,573 to €129,157
- Taxes +€23,156
up €23,156 (+76.4%), from €30,299 to €53,455
- Depreciation +€6,194
up €6,194 (+10.1%), from €61,545 to €67,739
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 | €1,082,402 | €1,249,685 | +€167,283 | +15.5% |
| Fixed assets | 21/28 | €614,885 | €547,955 | -€66,929 | -10.9% |
| Intangible fixed assets | 21 | €3,637 | €2,637 | -€1,000 | -27.5% |
| Tangible fixed assets | 22/27 | €574,703 | €516,490 | -€58,213 | -10.1% |
| Land and buildings | 22 | €474,909 | €437,840 | -€37,069 | -7.8% |
| Plant, machinery and equipment | 23 | €21,406 | €13,566 | -€7,839 | -36.6% |
| Furniture and vehicles | 24 | €44,729 | €38,724 | -€6,005 | -13.4% |
| Leasing and similar rights | 25 | €33,660 | €26,360 | -€7,300 | -21.7% |
| Financial fixed assets | 28 | €36,544 | €28,828 | -€7,716 | -21.1% |
| Current assets | 29/58 | €467,518 | €701,730 | +€234,212 | +50.1% |
| Stocks and contracts in progress | 3 | €160,746 | €112,719 | -€48,027 | -29.9% |
| Stocks | 30/36 | €160,746 | €112,719 | -€48,027 | -29.9% |
| Amounts receivable within one year | 40/41 | €143,616 | €126,479 | -€17,136 | -11.9% |
| Trade receivables | 40 | €113,827 | €79,023 | -€34,804 | -30.6% |
| Other amounts receivable | 41 | €29,789 | €47,456 | +€17,667 | +59.3% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €163,155 | €358,106 | +€194,951 | +119% |
| Deferred charges and accrued income | 490/1 | €0 | €4,425 | +€4,425 | |
| Total equity and liabilities | 10/49 | €1,082,402 | €1,249,685 | +€167,283 | +15.5% |
| Equity | 10/15 | €225,258 | €375,414 | +€150,156 | +66.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,860 | €230,480 | +€148,620 | +182% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €92,620 | +€92,620 | |
| Distributable reserves | 133 | €80,000 | €136,000 | +€56,000 | +70.0% |
| Profit (loss) carried forward | 14 | €124,798 | €126,334 | +€1,536 | +1.2% |
| Provisions and deferred taxes | 16 | €40,000 | €40,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €40,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable | 17/49 | €817,144 | €834,271 | +€17,126 | +2.1% |
| Amounts payable after more than one year | 17 | €504,121 | €446,335 | -€57,786 | -11.5% |
| Financial debts | 170/4 | €504,121 | €446,335 | -€57,786 | -11.5% |
| Amounts payable within one year | 42/48 | €313,023 | €387,936 | +€74,912 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €53,420 | €57,025 | +€3,605 | +6.7% |
| Financial debts | 43 | €563 | €0 | -€563 | -100% |
| Credit institutions | 430/8 | €563 | €0 | -€563 | -100% |
| Trade debts | 44 | €132,462 | €200,538 | +€68,075 | +51.4% |
| Suppliers | 440/4 | €132,462 | €200,538 | +€68,075 | +51.4% |
| Taxes, remuneration and social security | 45 | €81,578 | €72,196 | -€9,382 | -11.5% |
| Taxes | 450/3 | €66,306 | €65,044 | -€1,261 | -1.9% |
| Remuneration and social security | 454/9 | €15,272 | €7,152 | -€8,120 | -53.2% |
| Other amounts payable | 47/48 | €45,000 | €58,177 | +€13,177 | +29.3% |
| Remuneration, social security and pensions | 62 | €35,573 | €129,157 | +€93,584 | +263% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,545 | €67,739 | +€6,194 | +10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,664 | €6,976 | -€3,689 | -34.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €8,349 | €7,509 | -€840 | -10.1% |
| Gross operating margin | 9900 | €247,310 | €429,436 | +€182,126 | +73.6% |
| Operating profit (loss) | 9901 | €131,178 | €218,056 | +€86,877 | +66.2% |
| Financial income | 75/76B | €909 | €2,430 | +€1,521 | +167% |
| Recurring financial income | 75 | €909 | €2,430 | +€1,521 | +167% |
| Financial charges | 65/66B | €13,606 | €11,874 | -€1,732 | -12.7% |
| Recurring financial charges | 65 | €13,606 | €11,874 | -€1,732 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €118,481 | €208,611 | +€90,130 | +76.1% |
| Income taxes | 67/77 | €30,299 | €53,455 | +€23,156 | +76.4% |
| Profit (loss) for the period | 9904 | €88,182 | €155,156 | +€66,974 | +75.9% |
| Transfer to tax-exempt reserves | 689 | - | €92,620 | +€92,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,182 | €62,536 | -€25,646 | -29.1% |
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 29 October 2026 via checked.be.