De Vuurtoren: 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.
De Vuurtoren
Largest movements
- Tangible fixed assets +€29,178
up €29,178 (+628%), from €4,643 to €33,822
of which Land and buildings: +€27,020
- Receivables within one year +€9,688
up €9,688 (+63.4%), from €15,289 to €24,977
of which Other amounts receivable: +€10,720
- Cash +€7,180
up €7,180 (+4.1%), from €176,526 to €183,706
mainly Net result for the year (+€53,811) and Depreciation (+€4,176)
- Profit (loss) carried forward +€53,811
up €53,811 (+34.6%), from €155,463 to €209,274
- Tax, wage and social debts -€8,490
down €8,490 (-23.8%), from €35,721 to €27,231
of which Taxes: -€6,790
- Gross operating margin -€28,531
down €28,531 (-27.0%), from €105,492 to €76,961
- Taxes -€5,519
down €5,519 (-25.6%), from €21,571 to €16,052
- Depreciation +€2,533
up €2,533 (+154%), from €1,643 to €4,176
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 | €197,558 | €242,930 | +€45,372 | +23.0% |
| Fixed assets | 21/28 | €4,643 | €33,822 | +€29,178 | +628% |
| Tangible fixed assets | 22/27 | €4,643 | €33,822 | +€29,178 | +628% |
| Land and buildings | 22 | - | €27,020 | +€27,020 | |
| Plant, machinery and equipment | 23 | €4,643 | €3,639 | -€1,004 | -21.6% |
| Furniture and vehicles | 24 | - | €3,163 | +€3,163 | |
| Current assets | 29/58 | €192,915 | €209,108 | +€16,194 | +8.4% |
| Amounts receivable within one year | 40/41 | €15,289 | €24,977 | +€9,688 | +63.4% |
| Trade receivables | 40 | €13,633 | €12,600 | -€1,033 | -7.6% |
| Other amounts receivable | 41 | €1,657 | €12,377 | +€10,720 | +647% |
| Cash at bank and in hand | 54/58 | €176,526 | €183,706 | +€7,180 | +4.1% |
| Deferred charges and accrued income | 490/1 | €1,100 | €425 | -€675 | -61.3% |
| Total equity and liabilities | 10/49 | €197,558 | €242,930 | +€45,372 | +23.0% |
| Equity | 10/15 | €158,463 | €212,274 | +€53,811 | +34.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,463 | €209,274 | +€53,811 | +34.6% |
| Amounts payable | 17/49 | €39,095 | €30,656 | -€8,439 | -21.6% |
| Amounts payable within one year | 42/48 | €39,095 | €30,656 | -€8,439 | -21.6% |
| Trade debts | 44 | €3,374 | €3,424 | +€51 | +1.5% |
| Suppliers | 440/4 | €3,374 | €3,424 | +€51 | +1.5% |
| Taxes, remuneration and social security | 45 | €35,721 | €27,231 | -€8,490 | -23.8% |
| Taxes | 450/3 | €34,021 | €27,231 | -€6,790 | -20.0% |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,643 | €4,176 | +€2,533 | +154% |
| Other operating charges | 640/8 | €491 | €771 | +€280 | +56.9% |
| Gross operating margin | 9900 | €105,492 | €76,961 | -€28,531 | -27.0% |
| Operating profit (loss) | 9901 | €103,357 | €72,013 | -€31,344 | -30.3% |
| Financial income | 75/76B | - | €252 | +€252 | |
| Recurring financial income | 75 | - | €252 | +€252 | |
| Financial charges | 65/66B | €2,116 | €2,402 | +€286 | +13.5% |
| Recurring financial charges | 65 | €2,116 | €2,402 | +€286 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €101,241 | €69,863 | -€31,378 | -31.0% |
| Income taxes | 67/77 | €21,571 | €16,052 | -€5,519 | -25.6% |
| Profit (loss) for the period | 9904 | €79,670 | €53,811 | -€25,859 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,670 | €53,811 | -€25,859 | -32.5% |
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 18 October 2026 via checked.be.