THETOWER SB: 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.
THETOWER SB
Largest movements
- Cash -€48,483
down €48,483 (-35.6%), from €136,095 to €87,612
mainly Contributions, distributions and other (-€192,000) and Investment in fixed assets (net) (-€42,252)
- Tangible fixed assets +€36,026
up €36,026 (+8,500%), from €424 to €36,450
of which Furniture and vehicles: +€36,154
- Intangible fixed assets -€24,000
down €24,000 (-14.3%), from €168,000 to €144,000
- Receivables within one year +€20,543
up €20,543 (+678%), from €3,031 to €23,574
- Profit (loss) carried forward -€93,623
down €93,623 (-34.9%), from €268,179 to €174,557
- Other debts +€71,765
up €71,765 (+560%), from €12,820 to €84,585
- Tax, wage and social debts +€11,846
up €11,846 (+96.0%), from €12,338 to €24,184
- Trade debts -€5,910
down €5,910 (-64.2%), from €9,213 to €3,303
- Depreciation +€6,007
up €6,007 (+24.8%), from €24,219 to €30,226
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 | €307,551 | €292,589 | -€14,962 | -4.9% |
| Fixed assets | 21/28 | €168,424 | €180,450 | +€12,026 | +7.1% |
| Intangible fixed assets | 21 | €168,000 | €144,000 | -€24,000 | -14.3% |
| Tangible fixed assets | 22/27 | €424 | €36,450 | +€36,026 | +8,500% |
| Plant, machinery and equipment | 23 | €246 | €119 | -€127 | -51.6% |
| Furniture and vehicles | 24 | €177 | €36,331 | +€36,154 | +20,370% |
| Current assets | 29/58 | €139,127 | €112,138 | -€26,988 | -19.4% |
| Amounts receivable within one year | 40/41 | €3,031 | €23,574 | +€20,543 | +678% |
| Trade receivables | 40 | €3,031 | €23,574 | +€20,543 | +678% |
| Cash at bank and in hand | 54/58 | €136,095 | €87,612 | -€48,483 | -35.6% |
| Deferred charges and accrued income | 490/1 | - | €952 | +€952 | |
| Total equity and liabilities | 10/49 | €307,551 | €292,589 | -€14,962 | -4.9% |
| Equity | 10/15 | €273,179 | €179,557 | -€93,623 | -34.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,179 | €174,557 | -€93,623 | -34.9% |
| Amounts payable | 17/49 | €34,371 | €113,032 | +€78,660 | +229% |
| Amounts payable within one year | 42/48 | €34,371 | €112,072 | +€77,700 | +226% |
| Trade debts | 44 | €9,213 | €3,303 | -€5,910 | -64.2% |
| Suppliers | 440/4 | €9,213 | €3,303 | -€5,910 | -64.2% |
| Taxes, remuneration and social security | 45 | €12,338 | €24,184 | +€11,846 | +96.0% |
| Taxes | 450/3 | €12,338 | €24,184 | +€11,846 | +96.0% |
| Other amounts payable | 47/48 | €12,820 | €84,585 | +€71,765 | +560% |
| Accrued charges and deferred income | 492/3 | - | €960 | +€960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,219 | €30,226 | +€6,007 | +24.8% |
| Other operating charges | 640/8 | €387 | €1,912 | +€1,524 | +394% |
| Gross operating margin | 9900 | €158,107 | €159,444 | +€1,337 | +0.8% |
| Operating profit (loss) | 9901 | €133,501 | €127,306 | -€6,194 | -4.6% |
| Financial charges | 65/66B | €284 | €394 | +€111 | +39.0% |
| Recurring financial charges | 65 | €284 | €394 | +€111 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €133,217 | €126,912 | -€6,305 | -4.7% |
| Income taxes | 67/77 | €29,292 | €28,534 | -€758 | -2.6% |
| Profit (loss) for the period | 9904 | €103,925 | €98,377 | -€5,547 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,925 | €98,377 | -€5,547 | -5.3% |
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 17 October 2026 via checked.be.