THE LIGHTHOUSE: what changed
Two fiscal 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.
THE LIGHTHOUSE
Largest movements
- Receivables within one year -€120,772
down €120,772 (-54.7%), from €220,955 to €100,183
of which Other amounts receivable: -€210,009
- Cash -€2,946
down €2,946 (-88.9%), from €3,312 to €366
mainly Other debts (-€137,304) and Debts after one year (-€16,882)
- Other debts -€137,304
down €137,304 (-71.8%), from €191,178 to €53,874
- Profit (loss) carried forward +€46,746
up €46,746 (+47.3%), from -€98,862 to -€52,116
- Debts after one year -€16,882
down €16,882 (-55.9%), from €30,175 to €13,293
- Tax, wage and social debts -€9,454
down €9,454 (-98.6%), from €9,593 to €138
- Trade debts -€7,737
down €7,737 (-96.5%), from €8,015 to €278
- Gross operating margin +€52,765
up €52,765 (+643.3%), from €8,202 to €60,967
- Write-downs +€10,763
new in 2025: €10,763
- Financial charges -€2,440
down €2,440 (-43.5%), from €5,612 to €3,172
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 | €224,267 | €100,549 | -€123,718 | -55.2% |
| Current assets | 29/58 | €224,267 | €100,549 | -€123,718 | -55.2% |
| Amounts receivable within one year | 40/41 | €220,955 | €100,183 | -€120,772 | -54.7% |
| Trade receivables | 40 | €10,763 | €100,000 | +€89,237 | +829.1% |
| Other amounts receivable | 41 | €210,191 | €183 | -€210,009 | -99.9% |
| Cash at bank and in hand | 54/58 | €3,312 | €366 | -€2,946 | -88.9% |
| Total equity and liabilities | 10/49 | €224,267 | €100,549 | -€123,718 | -55.2% |
| Equity | 10/15 | -€30,662 | €16,084 | +€46,746 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,862 | -€52,116 | +€46,746 | +47.3% |
| Amounts payable | 17/49 | €254,929 | €84,465 | -€170,464 | -66.9% |
| Amounts payable after more than one year | 17 | €30,175 | €13,293 | -€16,882 | -55.9% |
| Financial debts | 170/4 | €30,175 | €13,293 | -€16,882 | -55.9% |
| Amounts payable within one year | 42/48 | €224,754 | €71,172 | -€153,582 | -68.3% |
| Current portion of amounts payable after more than one year | 42 | €15,968 | €16,882 | +€914 | +5.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,015 | €278 | -€7,737 | -96.5% |
| Suppliers | 440/4 | €8,015 | €278 | -€7,737 | -96.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,593 | €138 | -€9,454 | -98.6% |
| Taxes | 450/3 | €9,593 | €138 | -€9,454 | -98.6% |
| Other amounts payable | 47/48 | €191,178 | €53,874 | -€137,304 | -71.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,763 | +€10,763 | |
| Other operating charges | 640/8 | €513 | €286 | -€227 | -44.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €8,202 | €60,967 | +€52,765 | +643.3% |
| Operating profit (loss) | 9901 | €7,689 | €49,918 | +€42,229 | +549.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,612 | €3,172 | -€2,440 | -43.5% |
| Recurring financial charges | 65 | €5,612 | €3,172 | -€2,440 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €2,077 | €46,746 | +€44,669 | +2150.9% |
| Profit (loss) for the period | 9904 | €2,077 | €46,746 | +€44,669 | +2150.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,077 | €46,746 | +€44,669 | +2150.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.