BONAIR: 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.
BONAIR
Largest movements
- Stocks and contracts -€1.1m
down €1.1m (-60.3%), from €1.8m to €698,568
- Cash +€168,344
up €168,344 (+282%), from €59,723 to €228,067
mainly Stocks and contracts (+€1.1m) and Net result for the year (+€151,353)
- Short-term financial debts -€775,940
down €775,940 (-68.9%), from €1.1m to €350,000
- Other debts -€218,004
down €218,004 (-32.0%), from €681,857 to €463,853
- Reserves +€151,353
up €151,353 (+45.5%), from €332,727 to €484,081
- Tax, wage and social debts -€57,347
down €57,347 (-77.3%), from €74,160 to €16,813
- Advances received -€47,350
down €47,350 (-100%), from €47,350 to €0
- Gross operating margin +€63,368
up €63,368 (+28.7%), from €220,923 to €284,291
- Taxes +€29,450
up €29,450 (+71.5%), from €41,181 to €70,631
- Financial charges -€11,420
down €11,420 (-13.6%), from €83,827 to €72,407
- Financial income +€3,898
up €3,898 (+60.3%), from €6,465 to €10,363
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 | €2,355,674 | €1,452,255 | -€903,419 | -38.4% |
| Fixed assets | 21/28 | €19,200 | €19,200 | = | 0.0% |
| Financial fixed assets | 28 | €19,200 | €19,200 | = | 0.0% |
| Current assets | 29/58 | €2,336,474 | €1,433,055 | -€903,419 | -38.7% |
| Stocks and contracts in progress | 3 | €1,760,295 | €698,568 | -€1.1m | -60.3% |
| Stocks | 30/36 | €1,760,295 | €698,568 | -€1.1m | -60.3% |
| Amounts receivable within one year | 40/41 | €516,330 | €506,419 | -€9,911 | -1.9% |
| Trade receivables | 40 | €600 | €10,000 | +€9,400 | +1,567% |
| Other amounts receivable | 41 | €515,730 | €496,419 | -€19,311 | -3.7% |
| Cash at bank and in hand | 54/58 | €59,723 | €228,067 | +€168,344 | +282% |
| Deferred charges and accrued income | 490/1 | €126 | €0 | -€126 | -100% |
| Total equity and liabilities | 10/49 | €2,355,674 | €1,452,255 | -€903,419 | -38.4% |
| Equity | 10/15 | €342,727 | €494,081 | +€151,353 | +44.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €332,727 | €484,081 | +€151,353 | +45.5% |
| Distributable reserves | 133 | €332,727 | €484,081 | +€151,353 | +45.5% |
| Amounts payable | 17/49 | €2,012,946 | €958,174 | -€1.1m | -52.4% |
| Amounts payable within one year | 42/48 | €1,997,985 | €939,616 | -€1.1m | -53.0% |
| Financial debts | 43 | €1,125,940 | €350,000 | -€775,940 | -68.9% |
| Credit institutions | 430/8 | €1,125,940 | €350,000 | -€775,940 | -68.9% |
| Trade debts | 44 | €68,679 | €108,950 | +€40,272 | +58.6% |
| Suppliers | 440/4 | €68,679 | €108,950 | +€40,272 | +58.6% |
| Advances received on contracts in progress | 46 | €47,350 | €0 | -€47,350 | -100% |
| Taxes, remuneration and social security | 45 | €74,160 | €16,813 | -€57,347 | -77.3% |
| Taxes | 450/3 | €74,160 | €16,813 | -€57,347 | -77.3% |
| Other amounts payable | 47/48 | €681,857 | €463,853 | -€218,004 | -32.0% |
| Accrued charges and deferred income | 492/3 | €14,961 | €18,558 | +€3,597 | +24.0% |
| Other operating charges | 640/8 | €115 | €262 | +€147 | +128% |
| Gross operating margin | 9900 | €220,923 | €284,291 | +€63,368 | +28.7% |
| Operating profit (loss) | 9901 | €220,808 | €284,029 | +€63,221 | +28.6% |
| Financial income | 75/76B | €6,465 | €10,363 | +€3,898 | +60.3% |
| Recurring financial income | 75 | €6,465 | €10,363 | +€3,898 | +60.3% |
| Financial charges | 65/66B | €83,827 | €72,407 | -€11,420 | -13.6% |
| Recurring financial charges | 65 | €83,827 | €72,407 | -€11,420 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €143,446 | €221,985 | +€78,539 | +54.8% |
| Income taxes | 67/77 | €41,181 | €70,631 | +€29,450 | +71.5% |
| Profit (loss) for the period | 9904 | €102,265 | €151,353 | +€49,089 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,265 | €151,353 | +€49,089 | +48.0% |
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 16 October 2026 via checked.be.