M TWICE: 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.
M TWICE
Largest movements
- Cash +€8,058
up €8,058 (+46.7%), from €17,257 to €25,315
mainly Deferred charges and accrued income (+€7,934) and Tax, wage and social debts (+€4,927)
- Deferred charges and accrued income -€7,934
down €7,934 (-49.0%), from €16,188 to €8,253
- Receivables within one year +€6,533
up €6,533 (+682%), from €958 to €7,491
- Stocks and contracts -€2,867
down €2,867 (-79.3%), from €3,614 to €747
- Tangible fixed assets +€861
up €861 (+9.8%), from €8,825 to €9,686
of which Furniture and vehicles: +€1,833
- Tax, wage and social debts +€4,927
up €4,927 (+199%), from €2,472 to €7,399
of which Taxes: +€4,927
- Other debts +€2,230
up €2,230 (+23.3%), from €9,565 to €11,795
- Current portion of long-term debt -€1,761
down €1,761 (-75.0%), from €2,349 to €587
- Trade debts -€629
down €629 (-12.1%), from €5,175 to €4,547
- Debts after one year -€587
no longer reported in 2025 (was €587)
- Gross operating margin +€9,557
up €9,557, from -€2,343 to €7,214
- Financial charges +€1,623
up €1,623 (+139%), from €1,169 to €2,793
- Taxes +€1,034
up €1,034 (+622%), from €166 to €1,200
- Depreciation +€115
up €115 (+5.0%), from €2,297 to €2,412
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 | €46,972 | €51,493 | +€4,521 | +9.6% |
| Fixed assets | 21/28 | €8,955 | €9,686 | +€731 | +8.2% |
| Intangible fixed assets | 21 | €130 | - | -€130 | |
| Tangible fixed assets | 22/27 | €8,825 | €9,686 | +€861 | +9.8% |
| Plant, machinery and equipment | 23 | €6,881 | €5,909 | -€972 | -14.1% |
| Furniture and vehicles | 24 | €1,944 | €3,777 | +€1,833 | +94.3% |
| Current assets | 29/58 | €38,017 | €41,807 | +€3,790 | +10.0% |
| Stocks and contracts in progress | 3 | €3,614 | €747 | -€2,867 | -79.3% |
| Stocks | 30/36 | €3,614 | €747 | -€2,867 | -79.3% |
| Amounts receivable within one year | 40/41 | €958 | €7,491 | +€6,533 | +682% |
| Trade receivables | 40 | €958 | €7,491 | +€6,533 | +682% |
| Cash at bank and in hand | 54/58 | €17,257 | €25,315 | +€8,058 | +46.7% |
| Deferred charges and accrued income | 490/1 | €16,188 | €8,253 | -€7,934 | -49.0% |
| Total equity and liabilities | 10/49 | €46,972 | €51,493 | +€4,521 | +9.6% |
| Equity | 10/15 | €26,824 | €26,959 | +€135 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,364 | €6,499 | +€135 | +2.1% |
| Amounts payable | 17/49 | €20,148 | €24,534 | +€4,386 | +21.8% |
| Amounts payable after more than one year | 17 | €587 | - | -€587 | |
| Financial debts | 170/4 | €587 | - | -€587 | |
| Amounts payable within one year | 42/48 | €19,561 | €24,328 | +€4,767 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €2,349 | €587 | -€1,761 | -75.0% |
| Trade debts | 44 | €5,175 | €4,547 | -€629 | -12.1% |
| Suppliers | 440/4 | €5,175 | €4,547 | -€629 | -12.1% |
| Taxes, remuneration and social security | 45 | €2,472 | €7,399 | +€4,927 | +199% |
| Taxes | 450/3 | €1,722 | €6,649 | +€4,927 | +286% |
| Remuneration and social security | 454/9 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €9,565 | €11,795 | +€2,230 | +23.3% |
| Accrued charges and deferred income | 492/3 | - | €206 | +€206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,297 | €2,412 | +€115 | +5.0% |
| Other operating charges | 640/8 | €678 | €674 | -€3 | -0.5% |
| Gross operating margin | 9900 | -€2,343 | €7,214 | +€9,557 | |
| Operating profit (loss) | 9901 | -€5,317 | €4,128 | +€9,445 | |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €1,169 | €2,793 | +€1,623 | +139% |
| Recurring financial charges | 65 | €1,169 | €2,793 | +€1,623 | +139% |
| Profit (loss) for the period before taxes | 9903 | -€6,445 | €1,335 | +€7,780 | |
| Income taxes | 67/77 | €166 | €1,200 | +€1,034 | +622% |
| Profit (loss) for the period | 9904 | -€6,611 | €135 | +€6,746 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,611 | €135 | +€6,746 |
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.