BONEL: 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.
BONEL
Largest movements
- Receivables within one year -€122,204
down €122,204 (-80.9%), from €151,025 to €28,821
of which Other amounts receivable: -€93,564
- Cash +€23,733
up €23,733 (+62.0%), from €38,251 to €61,984
mainly Receivables within one year (+€122,204) and Net result for the year (+€84,121)
- Tangible fixed assets +€14,156
up €14,156 (+6.9%), from €205,957 to €220,112
of which Other tangible fixed assets: +€19,396
- Other debts -€130,738
down €130,738 (-40.6%), from €322,074 to €191,337
- Profit (loss) carried forward +€84,121
up €84,121 (+28.5%), from -€295,321 to -€211,200
- Trade debts -€36,890
down €36,890 (-61.9%), from €59,598 to €22,708
- Gross operating margin +€105,251
up €105,251 (+30.3%), from €347,193 to €452,444
- Other operating charges +€19,731
up €19,731 (+120%), from €16,480 to €36,210
- Staff costs -€6,062
down €6,062 (-2.2%), from €281,630 to €275,568
- Financial income -€5,692
down €5,692 (-100.0%), from €5,692 to €0
- Taxes +€5,348
up €5,348 (+2,119%), from €252 to €5,601
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 | €408,117 | €326,362 | -€81,755 | -20.0% |
| Fixed assets | 21/28 | €207,370 | €221,526 | +€14,156 | +6.8% |
| Tangible fixed assets | 22/27 | €205,957 | €220,112 | +€14,156 | +6.9% |
| Land and buildings | 22 | €8,897 | €4,514 | -€4,384 | -49.3% |
| Plant, machinery and equipment | 23 | €30,497 | €33,271 | +€2,774 | +9.1% |
| Furniture and vehicles | 24 | €5,385 | €1,754 | -€3,631 | -67.4% |
| Other tangible fixed assets | 26 | €161,178 | €180,574 | +€19,396 | +12.0% |
| Financial fixed assets | 28 | €1,413 | €1,413 | = | 0.0% |
| Current assets | 29/58 | €200,747 | €104,836 | -€95,911 | -47.8% |
| Stocks and contracts in progress | 3 | €11,471 | €14,031 | +€2,560 | +22.3% |
| Stocks | 30/36 | €11,471 | €14,031 | +€2,560 | +22.3% |
| Amounts receivable within one year | 40/41 | €151,025 | €28,821 | -€122,204 | -80.9% |
| Trade receivables | 40 | €57,462 | €28,821 | -€28,640 | -49.8% |
| Other amounts receivable | 41 | €93,564 | - | -€93,564 | |
| Cash at bank and in hand | 54/58 | €38,251 | €61,984 | +€23,733 | +62.0% |
| Total equity and liabilities | 10/49 | €408,117 | €326,362 | -€81,755 | -20.0% |
| Equity | 10/15 | -€6,755 | €77,366 | +€84,121 | |
| Contributions | 10/11 | €97,468 | €97,468 | = | 0.0% |
| Reserves | 13 | €191,098 | €191,098 | = | 0.0% |
| Non-distributable reserves | 130/1 | €871 | - | -€871 | |
| Reserves not available under the articles | 1311 | €871 | - | -€871 | |
| Tax-exempt reserves | 132 | €7,250 | €7,250 | = | 0.0% |
| Distributable reserves | 133 | €182,977 | €183,848 | +€871 | +0.5% |
| Profit (loss) carried forward | 14 | -€295,321 | -€211,200 | +€84,121 | +28.5% |
| Amounts payable | 17/49 | €414,872 | €248,996 | -€165,876 | -40.0% |
| Amounts payable within one year | 42/48 | €414,872 | €248,996 | -€165,876 | -40.0% |
| Trade debts | 44 | €59,598 | €22,708 | -€36,890 | -61.9% |
| Suppliers | 440/4 | €59,598 | €22,708 | -€36,890 | -61.9% |
| Taxes, remuneration and social security | 45 | €33,200 | €34,952 | +€1,752 | +5.3% |
| Taxes | 450/3 | €2,574 | €23,284 | +€20,710 | +805% |
| Remuneration and social security | 454/9 | €30,626 | €11,668 | -€18,958 | -61.9% |
| Other amounts payable | 47/48 | €322,074 | €191,337 | -€130,738 | -40.6% |
| Remuneration, social security and pensions | 62 | €281,630 | €275,568 | -€6,062 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,312 | €47,329 | +€5,016 | +11.9% |
| Other operating charges | 640/8 | €16,480 | €36,210 | +€19,731 | +120% |
| Gross operating margin | 9900 | €347,193 | €452,444 | +€105,251 | +30.3% |
| Operating profit (loss) | 9901 | €6,771 | €93,336 | +€86,566 | +1,279% |
| Financial income | 75/76B | €5,692 | €0 | -€5,692 | -100.0% |
| Recurring financial income | 75 | €5,692 | €0 | -€5,692 | -100.0% |
| Financial charges | 65/66B | €4,388 | €3,615 | -€773 | -17.6% |
| Recurring financial charges | 65 | €4,388 | €3,615 | -€773 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €8,075 | €89,722 | +€81,646 | +1,011% |
| Income taxes | 67/77 | €252 | €5,601 | +€5,348 | +2,119% |
| Profit (loss) for the period | 9904 | €7,823 | €84,121 | +€76,298 | +975% |
| Profit (loss) for the period to be appropriated | 9905 | €7,823 | €84,121 | +€76,298 | +975% |
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 31 October 2026 via checked.be.