DR BONGAERTS XAVIER: 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.
DR BONGAERTS XAVIER
Largest movements
- Current investments +€410,301
up €410,301 (+122%), from €336,941 to €747,242
- Cash -€118,296
down €118,296 (-21.9%), from €541,011 to €422,715
mainly Contributions, distributions and other (-€1.4m) and Current investments (-€410,301)
- Receivables within one year -€103,599
down €103,599 (-37.9%), from €273,677 to €170,078
of which Other amounts receivable: -€149,874
- Reserves -€1.1m
no longer reported in 2025 (was €1.1m)
- Other debts +€1.1m
new in 2025: €1.1m
- Tax, wage and social debts +€195,936
up €195,936 (+295%), from €66,352 to €262,288
of which Taxes: +€190,518
- Gross operating margin -€54,628
down €54,628 (-10.7%), from €511,312 to €456,684
- Taxes -€16,547
down €16,547 (-14.5%), from €114,131 to €97,584
- Staff costs +€9,444
up €9,444 (+24.2%), from €39,044 to €48,488
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 | €1,204,149 | €1,381,180 | +€177,031 | +14.7% |
| Formation expenses | 20 | €437 | €251 | -€186 | -42.6% |
| Fixed assets | 21/28 | €48,667 | €38,103 | -€10,564 | -21.7% |
| Tangible fixed assets | 22/27 | €48,667 | €38,103 | -€10,564 | -21.7% |
| Plant, machinery and equipment | 23 | €9,401 | €9,024 | -€377 | -4.0% |
| Furniture and vehicles | 24 | €39,266 | €29,079 | -€10,187 | -25.9% |
| Current assets | 29/58 | €1,155,045 | €1,342,826 | +€187,781 | +16.3% |
| Amounts receivable within one year | 40/41 | €273,677 | €170,078 | -€103,599 | -37.9% |
| Trade receivables | 40 | €120,451 | €166,726 | +€46,275 | +38.4% |
| Other amounts receivable | 41 | €153,226 | €3,352 | -€149,874 | -97.8% |
| Current investments | 50/53 | €336,941 | €747,242 | +€410,301 | +122% |
| Cash at bank and in hand | 54/58 | €541,011 | €422,715 | -€118,296 | -21.9% |
| Deferred charges and accrued income | 490/1 | €3,416 | €2,791 | -€625 | -18.3% |
| Total equity and liabilities | 10/49 | €1,204,149 | €1,381,180 | +€177,031 | +14.7% |
| Equity | 10/15 | €1,102,876 | €5,000 | -€1.1m | -99.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,097,876 | - | -€1.1m | |
| Distributable reserves | 133 | €1,097,876 | - | -€1.1m | |
| Amounts payable | 17/49 | €101,273 | €1,376,180 | +€1.3m | +1,259% |
| Amounts payable after more than one year | 17 | €24,601 | €13,909 | -€10,692 | -43.5% |
| Financial debts | 170/4 | €24,601 | €13,909 | -€10,692 | -43.5% |
| Amounts payable within one year | 42/48 | €76,672 | €1,362,271 | +€1.3m | +1,677% |
| Current portion of amounts payable after more than one year | 42 | €10,320 | €10,692 | +€372 | +3.6% |
| Trade debts | 44 | - | €8,012 | +€8,012 | |
| Suppliers | 440/4 | - | €8,012 | +€8,012 | |
| Taxes, remuneration and social security | 45 | €66,352 | €262,288 | +€195,936 | +295% |
| Taxes | 450/3 | €66,352 | €256,870 | +€190,518 | +287% |
| Remuneration and social security | 454/9 | - | €5,418 | +€5,418 | |
| Other amounts payable | 47/48 | - | €1,081,279 | +€1.1m | |
| Remuneration, social security and pensions | 62 | €39,044 | €48,488 | +€9,444 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,381 | €15,380 | +€999 | +6.9% |
| Other operating charges | 640/8 | €5,405 | €2,652 | -€2,753 | -50.9% |
| Gross operating margin | 9900 | €511,312 | €456,684 | -€54,628 | -10.7% |
| Operating profit (loss) | 9901 | €452,482 | €390,164 | -€62,318 | -13.8% |
| Financial income | 75/76B | €13,706 | €11,838 | -€1,868 | -13.6% |
| Recurring financial income | 75 | €13,706 | €11,838 | -€1,868 | -13.6% |
| Financial charges | 65/66B | €9,781 | €6,945 | -€2,836 | -29.0% |
| Recurring financial charges | 65 | €9,781 | €6,945 | -€2,836 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €456,407 | €395,057 | -€61,350 | -13.4% |
| Income taxes | 67/77 | €114,131 | €97,584 | -€16,547 | -14.5% |
| Profit (loss) for the period | 9904 | €342,276 | €297,473 | -€44,803 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €342,276 | €297,473 | -€44,803 | -13.1% |
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 23 October 2026 via checked.be.