VUUR EN VLAM: 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.
VUUR EN VLAM
Largest movements
- Tangible fixed assets +€379,430
up €379,430 (+693%), from €54,754 to €434,184
of which Land and buildings: +€378,231
- Cash -€22,816
down €22,816 (-21.7%), from €104,908 to €82,092
mainly Investment in fixed assets (net) (-€408,956) and Stocks and contracts (-€18,018)
- Stocks and contracts +€18,018
up €18,018 (+16.2%), from €111,544 to €129,562
of which Stocks: +€20,018
- Other debts +€309,910
up €309,910 (+14,661%), from €2,114 to €312,024
- Reserves +€57,810
up €57,810 (+36.9%), from €156,676 to €214,485
of which Distributable reserves: +€42,014
- Trade debts +€10,341
up €10,341 (+34.3%), from €30,182 to €40,523
- Gross operating margin +€52,046
up €52,046 (+58.2%), from €89,453 to €141,499
- Depreciation +€14,614
up €14,614 (+98.0%), from €14,912 to €29,526
- Financial charges +€11,287
up €11,287 (+2,467%), from €458 to €11,745
- Taxes -€3,349
down €3,349 (-27.7%), from €12,081 to €8,732
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 | €292,796 | €667,845 | +€375,049 | +128% |
| Fixed assets | 21/28 | €54,754 | €434,184 | +€379,430 | +693% |
| Tangible fixed assets | 22/27 | €54,754 | €434,184 | +€379,430 | +693% |
| Land and buildings | 22 | €51,430 | €429,662 | +€378,231 | +735% |
| Plant, machinery and equipment | 23 | €2,861 | €1,497 | -€1,363 | -47.7% |
| Furniture and vehicles | 24 | €463 | €3,025 | +€2,562 | +553% |
| Current assets | 29/58 | €238,042 | €233,661 | -€4,381 | -1.8% |
| Stocks and contracts in progress | 3 | €111,544 | €129,562 | +€18,018 | +16.2% |
| Stocks | 30/36 | €96,544 | €116,562 | +€20,018 | +20.7% |
| Contracts in progress | 37 | €15,000 | €13,000 | -€2,000 | -13.3% |
| Amounts receivable within one year | 40/41 | €19,837 | €19,911 | +€74 | +0.4% |
| Trade receivables | 40 | €7,737 | €7,545 | -€192 | -2.5% |
| Other amounts receivable | 41 | €12,100 | €12,365 | +€266 | +2.2% |
| Cash at bank and in hand | 54/58 | €104,908 | €82,092 | -€22,816 | -21.7% |
| Deferred charges and accrued income | 490/1 | €1,753 | €2,097 | +€344 | +19.6% |
| Total equity and liabilities | 10/49 | €292,796 | €667,845 | +€375,049 | +128% |
| Equity | 10/15 | €206,254 | €264,064 | +€57,810 | +28.0% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €156,676 | €214,485 | +€57,810 | +36.9% |
| Tax-exempt reserves | 132 | - | €15,796 | +€15,796 | |
| Distributable reserves | 133 | €156,676 | €198,689 | +€42,014 | +26.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €3,949 | +€3,949 | |
| Deferred taxes | 168 | - | €3,949 | +€3,949 | |
| Amounts payable | 17/49 | €86,542 | €399,832 | +€313,290 | +362% |
| Amounts payable within one year | 42/48 | €86,542 | €399,832 | +€313,290 | +362% |
| Trade debts | 44 | €30,182 | €40,523 | +€10,341 | +34.3% |
| Suppliers | 440/4 | €30,182 | €40,523 | +€10,341 | +34.3% |
| Advances received on contracts in progress | 46 | €42,219 | €39,700 | -€2,519 | -6.0% |
| Taxes, remuneration and social security | 45 | €12,027 | €7,586 | -€4,441 | -36.9% |
| Taxes | 450/3 | €1,525 | €434 | -€1,092 | -71.6% |
| Remuneration and social security | 454/9 | €10,502 | €7,152 | -€3,350 | -31.9% |
| Other amounts payable | 47/48 | €2,114 | €312,024 | +€309,910 | +14,661% |
| Non-recurring operating income | 76A | - | €20,196 | +€20,196 | |
| Remuneration, social security and pensions | 62 | €28,274 | €29,044 | +€770 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,912 | €29,526 | +€14,614 | +98.0% |
| Other operating charges | 640/8 | €1,803 | €1,002 | -€801 | -44.4% |
| Gross operating margin | 9900 | €89,453 | €141,499 | +€52,046 | +58.2% |
| Operating profit (loss) | 9901 | €44,464 | €81,927 | +€37,463 | +84.3% |
| Financial income | 75/76B | €418 | €308 | -€110 | -26.3% |
| Recurring financial income | 75 | €418 | €308 | -€110 | -26.3% |
| Financial charges | 65/66B | €458 | €11,745 | +€11,287 | +2,467% |
| Recurring financial charges | 65 | €458 | €11,745 | +€11,287 | +2,467% |
| Profit (loss) for the period before taxes | 9903 | €44,425 | €70,490 | +€26,065 | +58.7% |
| Transfer from deferred taxes | 780 | - | €90 | +€90 | |
| Transfer to deferred taxes | 680 | - | €4,039 | +€4,039 | |
| Income taxes | 67/77 | €12,081 | €8,732 | -€3,349 | -27.7% |
| Profit (loss) for the period | 9904 | €32,344 | €57,810 | +€25,466 | +78.7% |
| Transfer from tax-exempt reserves | 789 | - | €361 | +€361 | |
| Transfer to tax-exempt reserves | 689 | - | €16,157 | +€16,157 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,344 | €42,014 | +€9,670 | +29.9% |
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.