TWERK (0447.553.545), Inactive: financials and annual accounts

Annual accounts 2025

abbreviated format, filed on 11-06-2026, 50 days before the deadline

€1.4m

▲ 1.4%

€88,636

▼ 55.4%

€174,692

▼ 36.9%

€129,096

▼ 45.3%

18.5%

▲ 1.0 percentage points

1.35

▲ 0.06

Money flows

no detail for 2025

Balance sheet

balance sheet total €1.9m on 31-12-2025

What the company ownsHow it is paid for

in euro

Staff

€41,371

Staff costs divided by the average number of full-time equivalents.

+3 people

people who joined people who left

In 2025, 4 people joined and 1 left. Training hours in 2025: 12,524.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
`20/58`	1.9m	1.9m	1.6m	1.5m	1.5m	1.5m	1.4m	1.3m	1.1m	1.4m	1.4m	1.1m	1.1m	810,524	673,252	769,990	749,699
`21/28`	635,784	691,937	712,628	790,714	902,708	911,214	925,140	929,166	744,940	1.2m	1.2m	934,722	927,684	644,855	542,771	519,701	538,623
`22/27`	632,634	686,067	706,758	784,844	899,458	907,964	920,540	924,566	744,440	1.2m	1.2m	934,722	927,582	644,753	542,704	519,701	538,473
`22`	500,281	546,147	574,515	617,035	679,978	691,004	719,947	736,072	684,757	1.0m	1.1m	920,636	913,768	617,917	501,959	498,756	514,052
`23`	120,130	116,497	98,555	120,945	154,075	181,504	169,778	164,865	38,007	26,555	10,553	2,953	3,378	11,621	21,240	16,442	20,014
`24`	12,223	23,423	33,689	46,864	65,405	35,456	30,815	23,629	21,677	12,052	13,896	11,133	10,436	15,215	19,505	4,503	4,407
`26`	-	-	-	-	-	-	-	-	-	90,988	90,988	-	-	-	-	-	-
`28`	3,150	5,870	5,870	5,870	3,250	3,250	4,600	4,600	500	500	500	-	102	102	67	-	150
`29/58`	1.2m	1.2m	876,438	721,437	584,153	541,329	473,531	382,343	370,770	265,712	219,904	152,658	184,300	165,669	130,481	250,289	211,076
`3`	255,907	132,588	70,055	66,212	62,542	44,796	49,131	32,606	36,064	34,546	21,429	16,950	7,067	4,758	4,442	4,442	4,442
`30/36`	255,907	132,588	70,055	66,212	62,542	44,796	49,131	32,606	36,064	34,546	21,429	16,950	7,067	4,758	4,442	4,442	4,442
`40/41`	452,761	535,314	497,515	407,262	275,619	286,980	298,417	280,937	233,652	214,974	137,624	93,158	152,291	117,673	96,492	154,733	191,473
`40`	360,808	386,472	350,337	269,680	198,922	216,322	206,061	177,027	158,736	152,767	75,956	48,559	46,539	30,238	26,737	20,210	32,620
`41`	91,953	148,843	147,178	137,581	76,697	70,658	92,356	103,910	74,916	62,207	61,668	44,599	105,752	87,435	69,755	134,523	158,853
`54/58`	524,085	500,435	258,650	212,159	231,755	181,582	112,120	56,850	93,909	5,461	43,280	42,550	24,942	43,238	29,547	90,819	15,161
`490/1`	14,964	16,988	50,219	35,805	14,237	27,971	13,862	11,950	7,145	10,731	17,571	-	-	-	-	295	-
Balance sheet: equity and liabilities
`10/49`	1.9m	1.9m	1.6m	1.5m	1.5m	1.5m	1.4m	1.3m	1.1m	1.4m	1.4m	1.1m	1.1m	810,524	673,252	769,990	749,699
`10/15`	348,301	329,171	209,000	210,090	322,921	255,521	111,262	115,315	88,902	173,099	227,334	245,321	263,926	114,143	114,697	277,403	160,022
`12`	-	-	-	-	-	-	-	-	-	183,911	183,911	-	-	-	-	-	-
`14`	228,944	185,905	28,124	17,334	95,300	1,426	-128,886	-103,842	-84,633	-336,514	-293,998	-103,819	-87,972	-77,458	-25,752	136,954	19,573
`15`	119,356	143,266	180,876	192,755	227,621	254,095	240,148	219,158	173,535	185,253	196,972	208,691	211,449	51,152	-	-	-
`16`	-	-	-	-	-	-	-	-	108,000	-	-	-	-	-	-	-	-
`160/5`	-	-	-	-	-	-	-	-	108,000	-	-	-	-	-	-	-	-
`17/49`	1.5m	1.5m	1.4m	1.3m	1.2m	1.2m	1.3m	1.2m	918,808	1.3m	1.2m	842,059	848,058	696,381	558,555	492,587	589,677
`17`	526,018	575,372	626,397	702,763	803,506	874,853	629,934	755,711	460,259	533,388	567,151	381,661	408,763	435,070	425,242	362,207	446,912
`170/4`	526,018	575,372	626,397	702,763	803,506	874,853	629,934	755,711	460,259	533,388	567,151	381,661	408,763	435,070	425,242	362,207	446,912
`42/48`	921,618	916,814	711,873	572,277	321,969	263,324	625,120	435,458	451,693	698,123	590,957	460,398	439,295	258,969	133,313	129,313	142,547
`42`	54,452	182,780	158,860	210,442	187,420	138,474	201,842	288,342	259,935	378,697	289,466	192,102	191,829	26,088	24,812	20,907	20,361
`43`	465,000	388,475	365,126	150,126	-	-	245,000	-	-	1,983	-	2,310	22,784	16,538	-	7,500	-
`430/8`	465,000	388,475	-	-	-	-	-	-	-	1,983	-	2,310	22,784	16,538	-	-	0
`439`	-	-	365,126	150,126	-	-	245,000	-	-	-	-	-	-	-	-	7,500	-
`44`	122,952	121,303	73,792	60,302	47,184	38,541	32,995	35,511	48,731	71,911	44,622	58,457	54,182	91,689	35,688	75,228	121,676
`440/4`	122,952	121,303	73,792	60,302	47,184	38,541	32,995	35,511	48,731	71,911	44,622	58,457	54,182	91,689	35,688	75,228	121,676
`46`	116,443	76,762	-	-	-	-	8,437	-	45,500	-	-	-	-	-	-	-	-
`45`	156,013	144,901	114,095	151,408	84,894	85,704	136,846	111,605	97,502	164,258	157,872	78,982	74,852	60,200	72,813	25,168	-
`450/3`	8,249	24,223	16,969	5,634	4,501	6,331	13,043	-	-	-	-	-	-	-	-	-	-
`454/9`	147,764	120,678	97,126	145,774	80,393	79,373	123,804	111,605	97,502	164,258	157,872	78,982	74,852	60,200	72,813	25,168	-
`47/48`	6,758	2,594	-	-	2,471	-	-	-	-	-	-	-	-	-	-	-	-
`492/3`	87,563	55,905	41,798	27,021	38,465	58,845	32,355	5,025	6,856	21,200	15,540	-	-	2,342	-	1,067	218
Income statement
`70/76A`	-	-	-	-	-	-	1.2m	1.1m	1.1m	959,356	873,578	771,379	705,184	648,444	676,225	-	627,112
`70`	-	-	-	-	1.5m	1.2m	1.1m	989,280	1.0m	939,451	866,099	766,679	699,703	639,804	658,098	-	138,766
`73`	-	-	-	-	80,524	98,403	87,765	35,934	17,719	-	-	-	-	-	-	-	488,346
`76A`	-	-	-	-	571	-	9	13	274,116	26	2,821	483	16,880	35,503	-	-	140
`9900`	1.4m	1.4m	1.2m	1.0m	992,768	852,713	866,908	763,968	699,421	635,145	741,715	615,988	571,517	462,174	486,694	-	519,462
`60/61`	-	-	-	-	586,158	479,094	323,393	361,255	415,995	-	-	155,390	133,667	186,270	189,533	-	107,650
`62`	1.2m	1.1m	1.1m	956,095	766,207	609,786	772,086	789,392	610,562	592,511	694,644	551,729	500,323	494,075	458,678	433,122	461,112
`630`	86,056	78,196	91,360	107,074	106,532	90,890	92,903	85,948	58,172	48,558	48,869	44,821	51,753	34,535	29,588	-	26,739
`631/4`	-	1,334	-	-	-	-405	3,365	-	-	-	-	-	-	-	-	-	-
`640/8`	1,319	5,208	1,972	1,013	246	1,817	1,662	512	105	1,686	2,807	2,987	2,588	2,723	3,631	-	62
`66A`	-	-	3,341	29,476	72	-	40	15	65,568	-	-	19,715	28,114	298	11,567	-	544
`9901`	88,636	198,716	43,666	-63,333	119,711	150,624	-3,107	-3,885	-77,417	-7,610	-4,605	16,451	16,853	-69,159	-5,203	-433,122	31,548
`75/76B`	2,229	446	255	328	2,367	5,626	856	3,851	3,818	171	83	1,362	792	17	-	-	19
`75`	2,229	446	255	313	2,367	5,626	856	3,851	3,818	171	83	1,362	792	17	-	-	19
`76B`	-	-	-	15	-	-	-	-	-	-	-	-	-	-	-	-	-
`65/66B`	47,825	41,381	33,199	14,960	28,204	25,939	22,762	19,173	23,516	35,103	31,582	14,429	16,925	17,769	17,156	-	11,590
`65`	47,825	41,381	33,199	14,960	28,204	25,939	22,762	19,173	23,516	35,103	31,582	14,429	16,925	17,769	17,156	-	11,590
`9903`	43,040	157,781	10,722	-77,966	93,874	130,312	-25,013	-19,207	-97,115	-42,542	-36,104	3,384	720	-86,911	-22,359	-433,122	19,977
`9904`	43,040	157,781	10,722	-77,966	93,874	130,312	-25,044	-19,209	111,433	-42,516	-190,179	-15,847	-10,514	-51,706	-33,926	-433,122	19,573
`9905`	43,040	157,781	10,722	-77,966	93,874	130,312	-25,044	-19,209	111,433	-42,516	-190,179	-15,847	-10,514	-	-	-	-
Appropriation of the result
`9906`	228,944	185,905	28,124	17,334	95,300	1,426	-128,886	-103,842	-84,633	-336,514	-293,998	-103,819	-87,972	-	-	-	-
`14P`	185,905	28,124	17,402	95,300	1,426	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
`9087`	30.2	27.6	29.1	27.6	26	28	26.8	23.2	21.4	21	21.7	20.7	19.4	18.6	18.7	18.7	21.7
Hours worked`1013`	44,064	42,964	40,581	39,838	37,016	28,181	39,609	36,365	33,653	33,448	35,459	33,139	30,585	30,167	30,624	30,110	32,445
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

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 11-06-2026.

Download as CSV

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	abbreviated format	11-06-2026	2026-00161991	PDF
31-12-2024	abbreviated format	21-10-2025	2025-00550545	PDF
31-12-2023	abbreviated format	26-06-2024	2024-00163718	PDF
31-12-2022	abbreviated format	27-08-2023	2023-00356981	PDF
31-12-2021	abbreviated format	03-07-2022	2022-20136745	PDF
31-12-2020	abbreviated format	30-07-2021	2021-44700343	PDF
31-12-2019	abbreviated format	26-05-2020	2020-13500068	PDF
31-12-2018	abbreviated format	06-06-2019	2019-16800443	PDF
31-12-2017	abbreviated format	21-06-2018	2018-23000250	PDF
31-12-2016	abbreviated format	20-07-2017	2017-34200221	PDF
31-12-2015	abbreviated format	29-09-2016	2016-62000302	PDF
31-12-2014	abbreviated format	07-09-2015	2015-58100387	PDF
31-12-2013	abbreviated format	24-07-2014	2014-33800383	PDF
31-12-2012	abbreviated format	12-03-2014	2014-06100547	PDF
31-12-2011	abbreviated format	13-06-2013	2013-17000085	PDF
31-12-2010	abbreviated format	06-07-2012	2012-27400528	PDF
31-12-2009	abbreviated format	06-07-2012	2012-27400533	PDF

Subsidies and aid

Flemish government 2022 to 2025, 10 entries, €2.3m awarded, €2.3m paid

Erkenning en subsidiëring als maatwerkafdeling

€2.2m

Open innovatie en strategische transformatie in de sociale economie

€78,720

Managementadvies

€10,000

Vlaams opleidingsverlof (VOV)

€6,248

Year	Entries	Awarded	Paid
2025	2	€691,818	€715,434
2024	2	€560,824	€560,824
2023	4	€559,011	€580,353
2022	2	€485,660	€430,702

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
174,692	276,912	135,026	43,740	226,243	241,514	89,795	82,063	-19,245	40,948	44,264	61,272	68,606	-34,624	24,385	-	58,288
129,096	235,976	102,082	29,108	200,406	221,202	67,859	66,739	169,605	6,042	-141,310	28,974	41,239	-17,171	-4,338	-	46,312
32,623	57,504	18,616	30,291	98,026	78,314	88,877	270,174	79,469	27,579	111,313	51,961	334,582	136,619	52,658	8,330	16,456
23,649	241,786	46,491	-19,596	50,173	69,462	55,270	-37,059	88,448	-37,819	730	17,608	-18,296	13,691	-61,272	75,658	-
326,098	268,511	164,565	149,160	262,184	278,006	-151,589	-53,114	-80,923	-432,411	-371,053	-307,740	-254,995	-93,300	-2,832	120,976	68,529
-	-	-	-	8.0%	12.2%	-0.3%	-0.4%	-7.7%	-0.8%	-0.5%	2.1%	2.4%	-10.8%	-0.8%	-	22.7%
18.5%	17.5%	13.2%	13.9%	21.7%	17.6%	8.0%	8.8%	8.0%	12.1%	16.2%	22.6%	23.7%	14.1%	17.0%	36.0%	21.3%
1.35	1.29	1.23	1.26	1.81	2.06	0.76	0.88	0.82	0.38	0.37	0.33	0.42	0.64	0.98	1.94	1.48
1.08	1.15	1.13	1.14	1.62	1.89	0.68	0.80	0.74	0.33	0.34	0.29	0.40	0.62	0.95	1.90	1.45
4.41	4.70	6.60	6.20	3.60	4.68	11.57	10.37	10.34	7.24	5.16	3.43	3.21	6.10	4.87	1.78	3.68
12.4%	47.9%	5.1%	-37.1%	29.1%	51.0%	-22.5%	-16.7%	125.3%	-24.6%	-83.7%	-6.5%	-4.0%	-45.3%	-29.6%	-156.1%	12.2%
2.3%	8.4%	0.7%	-5.2%	6.3%	9.0%	-1.8%	-1.5%	10.0%	-3.0%	-13.6%	-1.5%	-0.9%	-6.4%	-5.0%	-56.3%	2.6%
3.65	6.69	4.07	2.92	8.02	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	48 days	64 days	68 days	65 days	58 days	59 days	32 days	23 days	24 days	17 days	15 days	-	86 days
-	-	-	-	29 days	29 days	37 days	36 days	43 days	-	-	137 days	148 days	180 days	69 days	-	413 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.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	44	41	43	45	36
full-time	6	5	6	8	3
part-time	38	36	37	37	33
in full-time equivalents	31.5	28.1	28.9	31.6	25
	30.2	27.6	29.1	27.6	26
On a permanent contract	39	41	43	45	36
Joined	4	8	8	16	13
Left	1	10	10	7	16
Training hours	12,524	1,604	-	12,440	2,829

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€32,623	€57,504	€18,616	€27,671	€98,026
Financial fixed assets	-	-	-	€2,620	-
	€86,056	€78,196	€91,360	€107,074	€106,532

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on TWERK

The operating result for 2025 is 55% lower than in 2024.

Debt's share of the balance-sheet total falls from 82.5% to 81.5%. Equity is higher and debt is lower.

Large changes and their cause

2025 Net result -73% on 2024. Last accounts before the absorption by Waardenmakerij (effective 01-07-2026).

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE€41,371

Joined and left+3 people

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 10 entries, €2.3m awarded, €2.3m paid

Key figures and ratios

Social balance sheet

Investments

Insights on TWERK

in euro

in euro

€41,371

+3 people