LTW GROUP: 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.
LTW GROUP
Largest movements
- Receivables within one year +€23,656
up €23,656 (+21,297%), from €111 to €23,767
of which Trade receivables: +€18,611
- Cash +€5,854
up €5,854 (+6,428%), from €91 to €5,945
mainly Net result for the year (+€33,798) and Tax, wage and social debts (+€4,390)
- Tangible fixed assets +€3,470
up €3,470, from €0 to €3,470
of which Plant, machinery and equipment: +€3,470
- Profit (loss) carried forward +€18,074
up €18,074, from -€18,074 to €0
- Reserves +€15,724
new in 2025: €15,724
- Other debts -€7,025
down €7,025 (-100%), from €7,025 to €0
- Tax, wage and social debts +€4,390
new in 2025: €4,390
- Trade debts +€1,817
up €1,817 (+145%), from €1,251 to €3,069
- Gross operating margin +€41,961
up €41,961, from -€2,480 to €39,482
- Taxes +€4,390
new in 2025: €4,390
- Other operating charges +€400
up €400 (+645%), from €62 to €462
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 | €202 | €33,182 | +€32,980 | +16,315% |
| Fixed assets | 21/28 | €0 | €3,470 | +€3,470 | |
| Tangible fixed assets | 22/27 | €0 | €3,470 | +€3,470 | |
| Plant, machinery and equipment | 23 | - | €3,470 | +€3,470 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €202 | €29,712 | +€29,510 | +14,598% |
| Amounts receivable within one year | 40/41 | €111 | €23,767 | +€23,656 | +21,297% |
| Trade receivables | 40 | - | €18,611 | +€18,611 | |
| Other amounts receivable | 41 | €111 | €5,156 | +€5,045 | +4,542% |
| Cash at bank and in hand | 54/58 | €91 | €5,945 | +€5,854 | +6,428% |
| Total equity and liabilities | 10/49 | €202 | €33,182 | +€32,980 | +16,315% |
| Equity | 10/15 | -€8,074 | €25,724 | +€33,798 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €15,724 | +€15,724 | |
| Distributable reserves | 133 | - | €15,724 | +€15,724 | |
| Profit (loss) carried forward | 14 | -€18,074 | €0 | +€18,074 | |
| Amounts payable | 17/49 | €8,276 | €7,458 | -€818 | -9.9% |
| Amounts payable within one year | 42/48 | €8,276 | €7,458 | -€818 | -9.9% |
| Trade debts | 44 | €1,251 | €3,069 | +€1,817 | +145% |
| Suppliers | 440/4 | €1,251 | €3,069 | +€1,817 | +145% |
| Taxes, remuneration and social security | 45 | - | €4,390 | +€4,390 | |
| Taxes | 450/3 | - | €4,390 | +€4,390 | |
| Other amounts payable | 47/48 | €7,025 | €0 | -€7,025 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410 | €634 | +€224 | +54.7% |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +645% |
| Gross operating margin | 9900 | -€2,480 | €39,482 | +€41,961 | |
| Operating profit (loss) | 9901 | -€2,952 | €38,386 | +€41,337 | |
| Financial charges | 65/66B | €170 | €198 | +€28 | +16.3% |
| Recurring financial charges | 65 | €170 | €198 | +€28 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,122 | €38,188 | +€41,310 | |
| Income taxes | 67/77 | - | €4,390 | +€4,390 | |
| Profit (loss) for the period | 9904 | -€3,122 | €33,798 | +€36,920 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,122 | €33,798 | +€36,920 |
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.