TW PROJECTS
Annual accounts 2025
micro format, filed on 01-06-2026, 60 days before the deadlineMoney flows
of every €100 of turnover, €7.52 remains as profit in 2025Balance sheet
balance sheet total €425,718 on 31-12-2025in euro
in euro
Position in the sector
95.2%
Higher than 95% of 2,055 companies in 2025.
14.72
Higher than 95% of 1,955 companies in 2025.
3.6%
Higher than 55% of 1,978 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
425,718 | 410,642 | 448,096 | 403,379 | 351,223 | 344,499 | 338,006 | 309,949 | 305,104 | 319,275 | 268,656 | 232,846 | 180,206 | 134,759 | 79,013 | 128,473 | 102,482 | 117,240 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 5 | 172 | 338 | 505 | 671 | |
21/28 |
126,853 | 139,258 | 146,182 | 140,492 | 145,402 | 155,580 | 169,429 | 182,972 | 197,546 | 206,823 | 208,628 | 9,266 | 9,496 | 11,410 | 11,468 | 70,667 | 69,455 | 77,476 | |
21 |
- | - | - | - | 0 | - | - | 80 | 214 | 358 | 501 | 645 | - | - | - | - | - | - | |
22/27 |
126,853 | 139,258 | 146,182 | 140,492 | 145,402 | 155,580 | 169,429 | 182,892 | 197,332 | 206,465 | 208,127 | 8,621 | 9,496 | 11,405 | 11,296 | 70,329 | 68,950 | 76,805 | |
22 |
116,366 | 122,409 | 128,452 | 134,494 | 140,537 | 146,580 | 152,623 | 155,645 | 161,541 | 167,437 | 173,333 | - | - | - | - | - | - | - | |
23 |
4,355 | 2,379 | 2,678 | 3,037 | 592 | 1,506 | 2,420 | 3,372 | 6,582 | 373 | 526 | - | - | - | - | - | - | - | |
24 |
6,132 | 14,470 | 15,052 | 2,961 | 4,273 | 7,494 | 14,386 | 23,875 | 29,209 | 38,655 | 34,268 | 8,621 | 9,496 | 11,405 | 11,296 | 70,329 | 68,950 | 76,805 | |
29/58 |
298,865 | 271,384 | 301,914 | 262,887 | 205,821 | 188,919 | 168,577 | 126,977 | 107,558 | 112,452 | 60,028 | 223,580 | 170,710 | 123,349 | 67,545 | 57,806 | 33,027 | 39,764 | |
40/41 |
20,961 | 26,314 | 63,910 | 67,788 | 42,363 | 43,082 | 59,778 | 43,376 | 23,484 | 12,843 | 19,675 | 24,499 | 20,332 | 17,057 | 13,424 | 5,422 | 11,659 | 3,437 | |
40 |
20,026 | 26,314 | 63,910 | 67,788 | 42,319 | 43,038 | 58,146 | 43,376 | 19,603 | 10,836 | 17,928 | 24,499 | 8,859 | 8,589 | 4,840 | 4,901 | 10,963 | 2,904 | |
41 |
935 | - | - | - | 44 | 44 | 1,632 | - | 3,881 | 2,007 | 1,747 | - | 11,473 | 8,468 | 8,584 | 521 | 696 | 533 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | 197,372 | 93,385 | 82,685 | 27,024 | 20,000 | - | - | |
54/58 |
272,100 | 237,820 | 229,658 | 185,240 | 153,552 | 135,926 | 103,258 | 81,760 | 84,074 | 99,609 | 40,353 | - | 55,059 | 21,673 | 25,163 | 32,384 | 21,368 | 36,327 | |
490/1 |
5,804 | 7,250 | 8,346 | 9,859 | 9,906 | 9,911 | 5,541 | 1,841 | - | - | - | 1,709 | 1,934 | 1,934 | 1,934 | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
425,718 | 410,642 | 448,096 | 403,379 | 351,223 | 344,499 | 338,006 | 309,949 | 305,104 | 319,275 | 268,656 | 232,846 | 180,206 | 134,759 | 79,013 | 128,473 | 102,482 | 117,240 | |
10/15 |
405,419 | 390,026 | 376,333 | 318,673 | 326,617 | 316,650 | 291,051 | 286,765 | 288,887 | 287,935 | 248,159 | 200,153 | 154,510 | 104,243 | 53,583 | 39,299 | 19,310 | 15,695 | |
10/11 |
6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | 6,667 | |
100 |
- | - | - | - | - | - | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
101 |
- | - | - | - | - | - | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | 13,333 | |
13 |
156,465 | 141,072 | 127,379 | 69,719 | 77,663 | 67,696 | 42,097 | 42,097 | 42,097 | 42,097 | 2,321 | 2,321 | 2,321 | 2,321 | 2,650 | 1,631 | 632 | 451 | |
130/1 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,329 | 1,631 | 632 | 451 | |
1311 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | - | - | - | |
133 |
154,144 | 138,751 | 125,058 | 67,398 | 75,342 | 65,375 | 39,776 | 39,776 | 39,776 | 39,776 | - | - | - | - | - | - | - | - | |
14 |
242,287 | 242,287 | 242,287 | 242,287 | 242,287 | 242,287 | 242,287 | 238,001 | 240,123 | 239,171 | 239,171 | 191,165 | 145,522 | 95,255 | 44,266 | 31,001 | 12,011 | 8,577 | |
17/49 |
20,299 | 20,616 | 71,763 | 84,706 | 24,606 | 27,849 | 46,955 | 23,184 | 16,217 | 31,340 | 20,497 | 32,693 | 25,696 | 30,516 | 25,430 | 89,174 | 83,172 | 101,545 | |
17 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 15,959 | 22,014 | 27,773 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 15,959 | 22,014 | 27,773 | |
42/48 |
20,299 | 20,616 | 71,763 | 84,706 | 24,606 | 27,849 | 46,955 | 22,346 | 16,217 | 31,340 | 20,497 | 32,693 | 25,696 | 30,516 | 25,430 | 73,215 | 61,158 | 73,772 | |
44 |
115 | 762 | 24,941 | 51,928 | 14,200 | 17,748 | 17,121 | 9,726 | 13,282 | 5,280 | 9,269 | 6,913 | 3,049 | 6,275 | 1,094 | 1,053 | 2,528 | 6,528 | |
440/4 |
115 | 762 | 24,941 | 51,928 | 14,200 | 17,748 | 17,121 | 9,726 | 13,282 | 5,280 | 9,269 | 6,913 | 3,049 | 6,275 | 1,094 | 1,053 | 2,528 | 6,528 | |
45 |
16,169 | 16,647 | 44,724 | 30,458 | 8,196 | 7,597 | 12,938 | 12,620 | 2,539 | 25,668 | 11,228 | 24,021 | 22,143 | 8,738 | 6,802 | 9,483 | 4,579 | 4,086 | |
450/3 |
10,959 | 8,659 | 36,731 | 30,458 | 8,196 | 7,597 | 12,938 | 10,817 | 2,539 | 25,668 | 11,228 | 21,500 | 22,143 | 8,738 | 6,802 | 9,483 | 4,579 | 4,086 | |
454/9 |
5,210 | 7,988 | 7,993 | - | - | - | - | 1,803 | - | - | - | 2,521 | - | - | - | - | - | - | |
47/48 |
4,015 | 3,207 | 2,098 | 2,320 | 2,210 | 2,504 | 16,896 | - | 396 | 392 | - | 1,759 | 504 | 15,503 | 17,534 | 62,679 | 54,051 | 63,158 | |
492/3 |
- | - | - | - | - | - | - | 838 | - | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||||
70 |
204,564 | 264,960 | 352,402 | 293,530 | 233,342 | 288,086 | 283,677 | 192,247 | 142,140 | 172,266 | 159,938 | 139,905 | 110,275 | 105,905 | 81,935 | 67,110 | 35,655 | 50,201 | |
76A |
19,070 | 380 | 21,205 | 1,400 | 2,409 | 501 | 8,611 | - | - | 105 | - | - | 1,188 | - | - | - | - | - | |
9900 |
145,502 | 148,213 | 178,599 | 123,794 | 103,989 | 142,520 | 137,672 | 76,460 | 54,487 | 85,699 | 72,905 | 74,625 | 75,574 | 82,950 | 42,682 | 42,104 | 16,012 | 21,723 | |
60/61 |
78,132 | 117,127 | 195,008 | 171,136 | 131,762 | 146,067 | 154,616 | 115,787 | 87,653 | 86,672 | 87,033 | 65,280 | 34,700 | 22,955 | 39,253 | 25,006 | 19,553 | 28,478 | |
62 |
109,263 | 113,407 | 88,122 | 65,351 | 71,389 | 78,744 | 90,470 | 48,632 | 35,818 | 6,104 | 67 | 98 | - | 125 | 80 | - | - | - | |
630 |
8,702 | 12,151 | 9,145 | 7,910 | 10,293 | 14,865 | 16,529 | 18,558 | 17,673 | 15,223 | 8,805 | 2,607 | 2,575 | 2,355 | 1,860 | 9,509 | 8,573 | 5,047 | |
640/8 |
2,098 | 1,534 | 2,192 | 1,849 | 1,869 | 1,786 | 2,126 | 2,177 | 1,983 | 1,996 | 1,284 | 1,277 | 1,272 | 1,269 | 6,153 | 54 | 53 | - | |
66A |
- | - | - | - | - | 7,500 | - | - | - | 1,000 | - | - | - | - | 6,967 | - | - | - | |
9901 |
25,439 | 21,121 | 79,140 | 48,684 | 20,438 | 39,625 | 28,547 | 7,093 | -987 | 61,376 | 62,749 | 70,643 | 71,727 | 79,201 | 34,589 | 32,541 | 7,386 | 16,676 | |
75/76B |
5,535 | 1,975 | 346 | - | 20 | 26 | - | 49 | 53 | 33 | 374 | 567 | 953 | 854 | 56 | 244 | 248 | 128 | |
75 |
5,535 | 1,975 | 346 | - | 20 | 26 | - | 49 | 53 | 33 | 374 | 567 | 953 | 854 | 56 | 244 | 248 | 128 | |
65/66B |
2,855 | 2,834 | 1,000 | 953 | 1,176 | 1,470 | 1,633 | 718 | 119 | 119 | 131 | 128 | 103 | 97 | 786 | 1,047 | 1,347 | 930 | |
65 |
2,855 | 2,834 | 1,000 | 953 | 1,176 | 1,470 | 1,633 | 718 | 119 | 119 | 131 | 128 | 103 | 97 | 786 | 1,047 | 1,347 | 930 | |
9903 |
28,119 | 20,262 | 78,486 | 47,731 | 19,282 | 38,181 | 26,914 | 6,424 | -1,053 | 61,290 | 62,992 | 71,082 | 73,765 | 79,958 | 26,892 | 31,738 | 6,287 | 15,874 | |
67/77 |
12,726 | 6,569 | 20,826 | 15,900 | 9,315 | 12,582 | 2,628 | 8,546 | -2,005 | 21,514 | 14,986 | 25,439 | 23,498 | 29,298 | 12,608 | 11,749 | 2,672 | 6,846 | |
9904 |
15,393 | 13,693 | 57,660 | 31,831 | 9,967 | 25,599 | 24,286 | -2,122 | 952 | 39,776 | 48,006 | 45,643 | 50,267 | 50,660 | 14,284 | 19,989 | 3,615 | 9,028 | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 321 | - | - | - | |
9905 |
15,393 | 13,693 | 57,660 | 31,831 | 9,967 | 25,599 | 24,286 | -2,122 | 952 | 39,776 | 48,006 | 45,643 | 50,267 | 50,660 | 13,963 | 19,989 | 3,615 | 9,028 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
257,680 | 255,980 | 299,947 | 274,118 | 252,254 | 267,886 | 262,287 | 238,001 | 240,123 | 278,947 | 239,171 | 191,165 | 145,522 | 94,926 | 44,964 | 32,000 | 12,192 | 9,028 | |
14P |
242,287 | 242,287 | 242,287 | 242,287 | 242,287 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 329 | - | - | - | - | |
691/2 |
15,393 | 13,693 | 57,660 | 31,831 | 9,967 | 25,599 | - | - | - | 39,776 | - | - | - | - | 698 | 999 | 181 | 451 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 698 | 999 | 181 | 451 | |
6921 |
15,393 | 13,693 | 57,660 | 31,831 | 9,967 | 25,599 | - | - | - | 39,776 | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | 20,000 | - | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | 20,000 | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 01-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-06-2026 | 2026-00130348 | |
| 31-12-2024 | abbreviated format | 19-05-2025 | 2025-00101223 | |
| 31-12-2023 | micro format | 21-05-2024 | 2024-00093886 | |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00102248 | |
| 31-12-2021 | micro format | 18-05-2022 | 2022-20028903 | |
| 31-12-2020 | micro format | 26-05-2021 | 2021-15300600 | |
| 31-12-2019 | micro format | 03-06-2020 | 2020-14500432 | |
| 31-12-2018 | micro format | 24-05-2019 | 2019-14800151 | |
| 31-12-2017 | micro format | 18-05-2018 | 2018-13400121 | |
| 31-12-2016 | micro format | 23-05-2017 | 2017-13400376 | |
| 31-12-2015 | abbreviated format | 27-05-2016 | 2016-13900112 | |
| 31-12-2014 | abbreviated format | 19-05-2015 | 2015-12200528 | |
| 31-12-2013 | abbreviated format | 16-05-2014 | 2014-12900092 | |
| 31-12-2012 | abbreviated format | 28-05-2013 | 2013-14500445 | |
| 31-12-2011 | abbreviated format | 11-05-2012 | 2012-11500549 | |
| 31-12-2010 | abbreviated format | 31-05-2011 | 2011-14000452 | |
| 31-12-2009 | abbreviated format | 12-05-2010 | 2010-12100206 | |
| 31-12-2008 | abbreviated format | 15-05-2009 | 2009-15100064 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 34,141 | 33,272 | 88,285 | 56,594 | 30,731 | 54,490 | 45,076 | 25,651 | 16,686 | 76,599 | 71,554 | 73,250 | 74,302 | 81,556 | 36,449 | 42,050 | 15,959 | 21,723 | ||
| 24,095 | 25,844 | 66,805 | 39,741 | 20,260 | 40,464 | 40,815 | 16,436 | 18,625 | 54,999 | 56,811 | 48,250 | 52,842 | 53,015 | 16,144 | 29,498 | 12,188 | 14,075 | ||
| 2,597 | 5,227 | 14,835 | 3,000 | 1,383 | 1,016 | 5,229 | 3,984 | 8,396 | 13,418 | 208,167 | 2,377 | 661 | 2,297 | 3,346 | 10,721 | 551 | 81,691 | ||
| 34,280 | 8,162 | 44,418 | 31,688 | 17,626 | 32,668 | 21,498 | -2,314 | -15,535 | 59,256 | - | - | 33,386 | -3,490 | -7,221 | 11,016 | -14,959 | - | ||
| 278,566 | 250,768 | 230,151 | 178,181 | 181,215 | 161,070 | 121,622 | 104,631 | 91,341 | 81,112 | 39,531 | 190,887 | 145,014 | 92,833 | 42,115 | -15,409 | -28,131 | -34,008 | ||
| 12.4% | 8.0% | 22.5% | 16.6% | 8.8% | 13.8% | 10.1% | 3.7% | -0.7% | 35.6% | 39.2% | 50.5% | 65.0% | 74.8% | 42.2% | 48.5% | 20.7% | 33.2% | ||
| 95.2% | 95.0% | 84.0% | 79.0% | 93.0% | 91.9% | 86.1% | 92.5% | 94.7% | 90.2% | 92.4% | 86.0% | 85.7% | 77.4% | 67.8% | 30.6% | 18.8% | 13.4% | ||
| 14.72 | 13.16 | 4.21 | 3.10 | 8.36 | 6.78 | 3.59 | 5.68 | 6.63 | 3.59 | 2.93 | 6.84 | 6.64 | 4.04 | 2.66 | 0.79 | 0.54 | 0.54 | ||
| 0.05 | 0.05 | 0.19 | 0.27 | 0.08 | 0.09 | 0.16 | 0.08 | 0.06 | 0.11 | 0.08 | 0.16 | 0.17 | 0.29 | 0.47 | 2.27 | 4.31 | 6.47 | ||
| 3.8% | 3.5% | 15.3% | 10.0% | 3.1% | 8.1% | 8.3% | -0.7% | 0.3% | 13.8% | 19.3% | 22.8% | 32.5% | 48.6% | 26.7% | 50.9% | 18.7% | 57.5% | ||
| 3.6% | 3.3% | 12.9% | 7.9% | 2.8% | 7.4% | 7.2% | -0.7% | 0.3% | 12.5% | 17.9% | 19.6% | 27.9% | 37.6% | 18.1% | 15.6% | 3.5% | 7.7% | ||
| 11.96 | 11.74 | 88.29 | 59.39 | 26.13 | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| 36 days | 36 days | 66 days | 84 days | 66 days | 55 days | 75 days | 82 days | 50 days | 23 days | 41 days | 64 days | 29 days | 30 days | 22 days | 27 days | 112 days | 21 days | ||
| 1 day | 2 days | 47 days | 111 days | 39 days | 44 days | 40 days | 31 days | 55 days | 22 days | 39 days | 39 days | 32 days | 100 days | 10 days | 15 days | 47 days | 84 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,597 | €5,227 | €14,835 | €3,000 | €1,383 |
| €8,702 | €12,151 | €9,145 | €7,910 | €10,293 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on TW PROJECTS
The operating result for 2025 is 20% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 5.0% to 4.8%. Equity is higher and debt is lower.