ETS BONSIGNORE: 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.
ETS BONSIGNORE
Largest movements
- Receivables within one year +€57,922
up €57,922 (+6.4%), from €903,926 to €961,849
of which Trade receivables: +€75,615
- Cash +€37,053
up €37,053 (+74.0%), from €50,059 to €87,111
mainly Other debts (+€290,748) and Depreciation (+€18,263)
- Other debts +€290,748
new in 2025: €290,748
- Profit (loss) carried forward -€148,325
down €148,325 (-36.9%), from €402,114 to €253,789
- Trade debts -€39,094
down €39,094 (-12.2%), from €319,499 to €280,405
- Tax, wage and social debts -€18,352
down €18,352 (-34.4%), from €53,420 to €35,068
of which Taxes: -€27,352
- Accrued charges and deferred income +€15,340
new in 2025: €15,340
- Gross operating margin +€38,870
up €38,870 (+19.0%), from €204,121 to €242,991
- Staff costs -€29,604
down €29,604 (-7.9%), from €372,639 to €343,034
- Financial charges -€6,972
down €6,972 (-20.8%), from €33,496 to €26,524
- Depreciation -€5,780
down €5,780 (-24.0%), from €24,043 to €18,263
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 | €1,206,703 | €1,295,810 | +€89,107 | +7.4% |
| Fixed assets | 21/28 | €76,184 | €64,307 | -€11,877 | -15.6% |
| Tangible fixed assets | 22/27 | €56,951 | €45,074 | -€11,877 | -20.9% |
| Plant, machinery and equipment | 23 | €13,864 | €5,791 | -€8,073 | -58.2% |
| Furniture and vehicles | 24 | €3,367 | €6,479 | +€3,111 | +92.4% |
| Other tangible fixed assets | 26 | €39,720 | €32,804 | -€6,915 | -17.4% |
| Financial fixed assets | 28 | €19,233 | €19,233 | = | 0.0% |
| Current assets | 29/58 | €1,130,520 | €1,231,504 | +€100,984 | +8.9% |
| Stocks and contracts in progress | 3 | €140,815 | €151,882 | +€11,066 | +7.9% |
| Stocks | 30/36 | €140,815 | €151,882 | +€11,066 | +7.9% |
| Amounts receivable within one year | 40/41 | €903,926 | €961,849 | +€57,922 | +6.4% |
| Trade receivables | 40 | €841,456 | €917,070 | +€75,615 | +9.0% |
| Other amounts receivable | 41 | €62,471 | €44,779 | -€17,692 | -28.3% |
| Cash at bank and in hand | 54/58 | €50,059 | €87,111 | +€37,053 | +74.0% |
| Deferred charges and accrued income | 490/1 | €35,719 | €30,662 | -€5,058 | -14.2% |
| Total equity and liabilities | 10/49 | €1,206,703 | €1,295,810 | +€89,107 | +7.4% |
| Equity | 10/15 | €422,574 | €274,249 | -€148,325 | -35.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,114 | €253,789 | -€148,325 | -36.9% |
| Amounts payable | 17/49 | €784,129 | €1,021,561 | +€237,431 | +30.3% |
| Amounts payable within one year | 42/48 | €784,129 | €1,006,221 | +€222,092 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €11,210 | - | -€11,210 | |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €319,499 | €280,405 | -€39,094 | -12.2% |
| Suppliers | 440/4 | €319,499 | €280,405 | -€39,094 | -12.2% |
| Taxes, remuneration and social security | 45 | €53,420 | €35,068 | -€18,352 | -34.4% |
| Taxes | 450/3 | €29,662 | €2,310 | -€27,352 | -92.2% |
| Remuneration and social security | 454/9 | €23,757 | €32,758 | +€9,000 | +37.9% |
| Other amounts payable | 47/48 | - | €290,748 | +€290,748 | |
| Accrued charges and deferred income | 492/3 | - | €15,340 | +€15,340 | |
| Remuneration, social security and pensions | 62 | €372,639 | €343,034 | -€29,604 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,043 | €18,263 | -€5,780 | -24.0% |
| Other operating charges | 640/8 | €4,161 | €4,216 | +€55 | +1.3% |
| Gross operating margin | 9900 | €204,121 | €242,991 | +€38,870 | +19.0% |
| Operating profit (loss) | 9901 | -€196,722 | -€122,522 | +€74,200 | +37.7% |
| Financial income | 75/76B | €502 | €1,159 | +€657 | +131% |
| Recurring financial income | 75 | €502 | €1,159 | +€657 | +131% |
| Financial charges | 65/66B | €33,496 | €26,524 | -€6,972 | -20.8% |
| Recurring financial charges | 65 | €33,496 | €26,524 | -€6,972 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | -€229,716 | -€147,887 | +€81,828 | +35.6% |
| Income taxes | 67/77 | €471 | €438 | -€33 | -7.1% |
| Profit (loss) for the period | 9904 | -€230,187 | -€148,325 | +€81,862 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€230,187 | -€148,325 | +€81,862 | +35.6% |
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 26 October 2026 via checked.be.