BONA FIDE: 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.
BONA FIDE
Largest movements
- Current investments +€196,076
up €196,076 (+75.3%), from €260,430 to €456,506
- Cash -€114,132
down €114,132 (-42.5%), from €268,602 to €154,470
mainly Current investments (-€196,076) and Contributions, distributions and other (-€78,636)
- Receivables within one year +€28,854
up €28,854 (+86.5%), from €33,346 to €62,200
of which Other amounts receivable: +€30,000
- Receivables after one year -€8,000
down €8,000 (-16.7%), from €48,000 to €40,000
- Reserves +€85,460
up €85,460 (+18.2%), from €469,403 to €554,863
of which Distributable reserves: +€85,460
- Tax, wage and social debts +€15,403
up €15,403 (+48.1%), from €32,048 to €47,451
of which Taxes: +€15,371
- Gross operating margin +€45,977
up €45,977 (+24.1%), from €190,881 to €236,858
- Taxes +€13,746
up €13,746 (+22.9%), from €60,152 to €73,898
- Financial income -€3,943
down €3,943 (-30.3%), from €12,994 to €9,051
of which Non-recurring financial income: -€3,300
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 | €698,273 | €798,261 | +€99,988 | +14.3% |
| Fixed assets | 21/28 | €76,658 | €72,319 | -€4,339 | -5.7% |
| Tangible fixed assets | 22/27 | €76,658 | €72,319 | -€4,339 | -5.7% |
| Land and buildings | 22 | €73,693 | €70,586 | -€3,107 | -4.2% |
| Plant, machinery and equipment | 23 | €1,704 | €1,130 | -€574 | -33.7% |
| Furniture and vehicles | 24 | €1,261 | €603 | -€658 | -52.2% |
| Current assets | 29/58 | €621,615 | €725,942 | +€104,327 | +16.8% |
| Amounts receivable after more than one year | 29 | €48,000 | €40,000 | -€8,000 | -16.7% |
| Other amounts receivable | 291 | €48,000 | €40,000 | -€8,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €33,346 | €62,200 | +€28,854 | +86.5% |
| Trade receivables | 40 | €25,346 | €24,200 | -€1,146 | -4.5% |
| Other amounts receivable | 41 | €8,000 | €38,000 | +€30,000 | +375% |
| Current investments | 50/53 | €260,430 | €456,506 | +€196,076 | +75.3% |
| Cash at bank and in hand | 54/58 | €268,602 | €154,470 | -€114,132 | -42.5% |
| Deferred charges and accrued income | 490/1 | €11,237 | €12,766 | +€1,529 | +13.6% |
| Total equity and liabilities | 10/49 | €698,273 | €798,261 | +€99,988 | +14.3% |
| Equity | 10/15 | €568,209 | €653,669 | +€85,460 | +15.0% |
| Contributions | 10/11 | €31,858 | €31,858 | = | 0.0% |
| Reserves | 13 | €469,403 | €554,863 | +€85,460 | +18.2% |
| Tax-exempt reserves | 132 | €4,400 | €4,400 | = | 0.0% |
| Distributable reserves | 133 | €465,003 | €550,463 | +€85,460 | +18.4% |
| Profit (loss) carried forward | 14 | €66,948 | €66,948 | = | 0.0% |
| Amounts payable | 17/49 | €130,064 | €144,592 | +€14,528 | +11.2% |
| Amounts payable within one year | 42/48 | €130,064 | €144,592 | +€14,528 | +11.2% |
| Financial debts | 43 | €16,750 | €16,750 | = | 0.0% |
| Other loans | 439 | €16,750 | €16,750 | = | 0.0% |
| Trade debts | 44 | €7,224 | €1,353 | -€5,871 | -81.3% |
| Suppliers | 440/4 | €7,224 | €1,353 | -€5,871 | -81.3% |
| Taxes, remuneration and social security | 45 | €32,048 | €47,451 | +€15,403 | +48.1% |
| Taxes | 450/3 | €29,055 | €44,426 | +€15,371 | +52.9% |
| Remuneration and social security | 454/9 | €2,993 | €3,025 | +€32 | +1.1% |
| Other amounts payable | 47/48 | €74,042 | €79,038 | +€4,996 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,340 | €4,339 | -€1 | 0.0% |
| Other operating charges | 640/8 | €1,078 | €1,565 | +€487 | +45.2% |
| Gross operating margin | 9900 | €190,881 | €236,858 | +€45,977 | +24.1% |
| Operating profit (loss) | 9901 | €185,463 | €230,954 | +€45,491 | +24.5% |
| Financial income | 75/76B | €12,994 | €9,051 | -€3,943 | -30.3% |
| Recurring financial income | 75 | €9,694 | €9,051 | -€643 | -6.6% |
| Non-recurring financial income | 76B | €3,300 | - | -€3,300 | |
| Financial charges | 65/66B | €1,827 | €2,011 | +€184 | +10.1% |
| Recurring financial charges | 65 | €1,827 | €2,011 | +€184 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €196,630 | €237,994 | +€41,364 | +21.0% |
| Income taxes | 67/77 | €60,152 | €73,898 | +€13,746 | +22.9% |
| Profit (loss) for the period | 9904 | €136,478 | €164,096 | +€27,618 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €136,478 | €164,096 | +€27,618 | +20.2% |
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 28 October 2026 via checked.be.