P. BONEHILL: 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.
P. BONEHILL
Largest movements
- Receivables within one year +€56,748
up €56,748 (+81.8%), from €69,412 to €126,160
of which Trade receivables: +€70,761
- Tangible fixed assets -€23,271
down €23,271 (-5.2%), from €448,285 to €425,013
of which Plant, machinery and equipment: -€13,572
- Debts after one year +€52,913
up €52,913 (+20.6%), from €256,788 to €309,701
- Other debts -€36,782
down €36,782 (-95.6%), from €38,477 to €1,695
- Trade debts +€31,821
up €31,821 (+63.7%), from €49,977 to €81,798
- Tax, wage and social debts -€20,253
down €20,253 (-49.9%), from €40,621 to €20,367
of which Taxes: -€20,835
- Profit (loss) carried forward -€19,233
down €19,233 (-56.8%), from -€33,874 to -€53,107
- Gross operating margin -€79,636
down €79,636 (-33.7%), from €236,299 to €156,663
- Taxes -€15,862
down €15,862 (-99.8%), from €15,887 to €25
- Staff costs -€12,434
down €12,434 (-9.0%), from €137,860 to €125,426
- Financial charges +€3,280
up €3,280 (+59.9%), from €5,480 to €8,761
- Other operating charges -€2,514
down €2,514 (-14.1%), from €17,810 to €15,296
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.
Cash bridge derived
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 | €527,406 | €554,843 | +€27,437 | +5.2% |
| Fixed assets | 21/28 | €448,285 | €425,013 | -€23,271 | -5.2% |
| Tangible fixed assets | 22/27 | €448,285 | €425,013 | -€23,271 | -5.2% |
| Land and buildings | 22 | €383,314 | €375,821 | -€7,493 | -2.0% |
| Plant, machinery and equipment | 23 | €61,093 | €47,521 | -€13,572 | -22.2% |
| Furniture and vehicles | 24 | €3,878 | €1,671 | -€2,207 | -56.9% |
| Current assets | 29/58 | €79,121 | €129,829 | +€50,708 | +64.1% |
| Amounts receivable within one year | 40/41 | €69,412 | €126,160 | +€56,748 | +81.8% |
| Trade receivables | 40 | - | €70,761 | +€70,761 | |
| Other amounts receivable | 41 | €69,412 | €55,399 | -€14,012 | -20.2% |
| Cash at bank and in hand | 54/58 | €1,416 | €532 | -€884 | -62.4% |
| Deferred charges and accrued income | 490/1 | €8,293 | €3,137 | -€5,156 | -62.2% |
| Total equity and liabilities | 10/49 | €527,406 | €554,843 | +€27,437 | +5.2% |
| Equity | 10/15 | €117,986 | €98,753 | -€19,233 | -16.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,874 | -€53,107 | -€19,233 | -56.8% |
| Amounts payable | 17/49 | €409,420 | €456,090 | +€46,670 | +11.4% |
| Amounts payable after more than one year | 17 | €256,788 | €309,701 | +€52,913 | +20.6% |
| Financial debts | 170/4 | €256,788 | €309,701 | +€52,913 | +20.6% |
| Amounts payable within one year | 42/48 | €152,632 | €146,389 | -€6,244 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €23,558 | €42,528 | +€18,970 | +80.5% |
| Trade debts | 44 | €49,977 | €81,798 | +€31,821 | +63.7% |
| Suppliers | 440/4 | €49,977 | €81,798 | +€31,821 | +63.7% |
| Taxes, remuneration and social security | 45 | €40,621 | €20,367 | -€20,253 | -49.9% |
| Taxes | 450/3 | €24,302 | €3,466 | -€20,835 | -85.7% |
| Remuneration and social security | 454/9 | €16,319 | €16,901 | +€582 | +3.6% |
| Other amounts payable | 47/48 | €38,477 | €1,695 | -€36,782 | -95.6% |
| Remuneration, social security and pensions | 62 | €137,860 | €125,426 | -€12,434 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,623 | €26,387 | +€1,763 | +7.2% |
| Other operating charges | 640/8 | €17,810 | €15,296 | -€2,514 | -14.1% |
| Non-recurring operating charges | 66A | €5,965 | - | -€5,965 | |
| Gross operating margin | 9900 | €236,299 | €156,663 | -€79,636 | -33.7% |
| Operating profit (loss) | 9901 | €50,040 | -€10,447 | -€60,486 | |
| Financial charges | 65/66B | €5,480 | €8,761 | +€3,280 | +59.9% |
| Recurring financial charges | 65 | €5,480 | €8,761 | +€3,280 | +59.9% |
| Profit (loss) for the period before taxes | 9903 | €44,559 | -€19,207 | -€63,767 | |
| Income taxes | 67/77 | €15,887 | €25 | -€15,862 | -99.8% |
| Profit (loss) for the period | 9904 | €28,672 | -€19,233 | -€47,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,672 | -€19,233 | -€47,905 |
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 10 October 2026 via checked.be.