Bernard BONTEMPS: 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.
Bernard BONTEMPS
Largest movements
- Financial fixed assets +€411,455
up €411,455 (+45,314%), from €908 to €412,363
- Tangible fixed assets +€135,753
up €135,753 (+13.0%), from €1.0m to €1.2m
of which Land and buildings: +€116,747
- Intangible fixed assets -€52,168
down €52,168 (-33.5%), from €155,660 to €103,493
- Cash +€50,280
up €50,280 (+54.7%), from €91,991 to €142,270
mainly Other debts (+€587,426) and Depreciation (+€149,610)
- Other debts +€587,426
up €587,426 (+272%), from €216,236 to €803,662
- Debts after one year -€52,387
down €52,387 (-9.1%), from €574,401 to €522,013
- Gross operating margin -€48,052
down €48,052 (-23.1%), from €208,205 to €160,153
- Financial income +€23,959
up €23,959 (+775%), from €3,093 to €27,052
- Depreciation +€21,647
up €21,647 (+16.9%), from €127,963 to €149,610
- Financial charges -€17,333
down €17,333 (-52.3%), from €33,130 to €15,797
- Taxes +€7,994
up €7,994 (+119%), from €6,711 to €14,705
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 | €1,346,573 | €1,871,277 | +€524,704 | +39.0% |
| Fixed assets | 21/28 | €1,198,774 | €1,693,814 | +€495,040 | +41.3% |
| Intangible fixed assets | 21 | €155,660 | €103,493 | -€52,168 | -33.5% |
| Tangible fixed assets | 22/27 | €1,042,206 | €1,177,958 | +€135,753 | +13.0% |
| Land and buildings | 22 | €1,025,735 | €1,142,482 | +€116,747 | +11.4% |
| Plant, machinery and equipment | 23 | €3,177 | €6,144 | +€2,968 | +93.4% |
| Furniture and vehicles | 24 | €13,294 | €29,332 | +€16,038 | +121% |
| Financial fixed assets | 28 | €908 | €412,363 | +€411,455 | +45,314% |
| Current assets | 29/58 | €147,799 | €177,463 | +€29,664 | +20.1% |
| Amounts receivable within one year | 40/41 | €21,599 | €11,509 | -€10,090 | -46.7% |
| Trade receivables | 40 | €6,353 | €413 | -€5,939 | -93.5% |
| Other amounts receivable | 41 | €15,247 | €11,095 | -€4,151 | -27.2% |
| Cash at bank and in hand | 54/58 | €91,991 | €142,270 | +€50,280 | +54.7% |
| Deferred charges and accrued income | 490/1 | €34,209 | €23,684 | -€10,525 | -30.8% |
| Total equity and liabilities | 10/49 | €1,346,573 | €1,871,277 | +€524,704 | +39.0% |
| Equity | 10/15 | €462,935 | €448,518 | -€14,417 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,600 | €78,183 | -€14,417 | -15.6% |
| 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 | €42,366 | €40,299 | -€2,067 | -4.9% |
| Distributable reserves | 133 | €48,374 | €36,024 | -€12,350 | -25.5% |
| Profit (loss) carried forward | 14 | €351,735 | €351,735 | = | 0.0% |
| Provisions and deferred taxes | 16 | €9,580 | €8,515 | -€1,064 | -11.1% |
| Deferred taxes | 168 | €9,580 | €8,515 | -€1,064 | -11.1% |
| Amounts payable | 17/49 | €874,058 | €1,414,243 | +€540,185 | +61.8% |
| Amounts payable after more than one year | 17 | €574,401 | €522,013 | -€52,387 | -9.1% |
| Financial debts | 170/4 | €574,401 | €522,013 | -€52,387 | -9.1% |
| Amounts payable within one year | 42/48 | €299,658 | €892,230 | +€592,572 | +198% |
| Current portion of amounts payable after more than one year | 42 | €38,749 | €52,933 | +€14,184 | +36.6% |
| Financial debts | 43 | €86 | €86 | = | 0.0% |
| Credit institutions | 430/8 | €86 | €86 | = | 0.0% |
| Trade debts | 44 | €24,052 | €15,418 | -€8,634 | -35.9% |
| Suppliers | 440/4 | €24,052 | €15,418 | -€8,634 | -35.9% |
| Taxes, remuneration and social security | 45 | €20,535 | €20,131 | -€404 | -2.0% |
| Taxes | 450/3 | €6,631 | €20,131 | +€13,500 | +204% |
| Remuneration and social security | 454/9 | €13,904 | - | -€13,904 | |
| Other amounts payable | 47/48 | €216,236 | €803,662 | +€587,426 | +272% |
| Non-recurring operating income | 76A | €54,565 | - | -€54,565 | |
| Remuneration, social security and pensions | 62 | €7,195 | - | -€7,195 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,963 | €149,610 | +€21,647 | +16.9% |
| Other operating charges | 640/8 | €22,641 | €22,573 | -€67 | -0.3% |
| Gross operating margin | 9900 | €208,205 | €160,153 | -€48,052 | -23.1% |
| Operating profit (loss) | 9901 | €50,407 | -€12,031 | -€62,437 | |
| Financial income | 75/76B | €3,093 | €27,052 | +€23,959 | +775% |
| Recurring financial income | 75 | €3,093 | €27,052 | +€23,959 | +775% |
| Financial charges | 65/66B | €33,130 | €15,797 | -€17,333 | -52.3% |
| Recurring financial charges | 65 | €33,130 | €15,797 | -€17,333 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €20,370 | -€776 | -€21,146 | |
| Transfer from deferred taxes | 780 | €1,064 | €1,064 | = | 0.0% |
| Income taxes | 67/77 | €6,711 | €14,705 | +€7,994 | +119% |
| Profit (loss) for the period | 9904 | €14,723 | -€14,417 | -€29,140 | |
| Transfer from tax-exempt reserves | 789 | €2,067 | €2,067 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,790 | -€12,350 | -€29,140 |
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 14 October 2026 via checked.be.