T.W.E.O.: 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.
T.W.E.O.
Largest movements
- Receivables within one year +€11,168
up €11,168 (+124%), from €9,020 to €20,188
of which Trade receivables: +€11,583
- Tangible fixed assets -€6,279
down €6,279 (-32.8%), from €19,115 to €12,837
of which Furniture and vehicles: -€4,923
- Cash -€463
down €463 (-41.9%), from €1,105 to €642
mainly Receivables within one year (-€11,168) and Current portion of long-term debt (-€8,892)
- Current portion of long-term debt -€8,892
no longer reported in 2025 (was €8,892)
- Profit (loss) carried forward +€7,834
up €7,834 (+37.2%), from -€21,033 to -€13,198
- Trade debts +€4,220
up €4,220 (+417%), from €1,011 to €5,231
- Tax, wage and social debts +€1,842
up €1,842 (+699%), from €264 to €2,105
- Other debts -€509
down €509 (-59.4%), from €857 to €348
- Gross operating margin +€11,758
up €11,758, from -€6,676 to €5,082
- Financial income +€11,434
up €11,434 (+17,324%), from €66 to €11,500
- Other operating charges -€1,446
down €1,446 (-55.7%), from €2,596 to €1,150
- Financial charges -€604
down €604 (-45.6%), from €1,326 to €722
- Taxes +€214
new in 2025: €214
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 | €32,815 | €37,310 | +€4,496 | +13.7% |
| Fixed assets | 21/28 | €22,689 | €16,481 | -€6,209 | -27.4% |
| Tangible fixed assets | 22/27 | €19,115 | €12,837 | -€6,279 | -32.8% |
| Plant, machinery and equipment | 23 | €3,363 | €2,007 | -€1,356 | -40.3% |
| Furniture and vehicles | 24 | €15,752 | €10,830 | -€4,923 | -31.3% |
| Financial fixed assets | 28 | €3,574 | €3,644 | +€70 | +2.0% |
| Current assets | 29/58 | €10,125 | €20,830 | +€10,704 | +106% |
| Amounts receivable within one year | 40/41 | €9,020 | €20,188 | +€11,168 | +124% |
| Trade receivables | 40 | €2,605 | €14,188 | +€11,583 | +445% |
| Other amounts receivable | 41 | €6,415 | €6,000 | -€415 | -6.5% |
| Cash at bank and in hand | 54/58 | €1,105 | €642 | -€463 | -41.9% |
| Total equity and liabilities | 10/49 | €32,815 | €37,310 | +€4,496 | +13.7% |
| Equity | 10/15 | €20,019 | €27,853 | +€7,834 | +39.1% |
| Contributions | 10/11 | €8,600 | €8,600 | = | 0.0% |
| Contributions outside capital | 11 | €8,600 | €8,600 | = | 0.0% |
| Other | 1109/19 | €8,600 | €8,600 | = | 0.0% |
| Reserves | 13 | €32,452 | €32,452 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,452 | €1,452 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,452 | €1,452 | = | 0.0% |
| Distributable reserves | 133 | €31,000 | €31,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,033 | -€13,198 | +€7,834 | +37.2% |
| Amounts payable | 17/49 | €12,796 | €9,457 | -€3,339 | -26.1% |
| Amounts payable after more than one year | 17 | €1,772 | €1,772 | = | 0.0% |
| Financial debts | 170/4 | €1,772 | €1,772 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,024 | €7,685 | -€3,339 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €8,892 | - | -€8,892 | |
| Trade debts | 44 | €1,011 | €5,231 | +€4,220 | +417% |
| Suppliers | 440/4 | €1,011 | €5,231 | +€4,220 | +417% |
| Taxes, remuneration and social security | 45 | €264 | €2,105 | +€1,842 | +699% |
| Taxes | 450/3 | €264 | €2,105 | +€1,842 | +699% |
| Other amounts payable | 47/48 | €857 | €348 | -€509 | -59.4% |
| Remuneration, social security and pensions | 62 | €287 | €383 | +€96 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,336 | €6,279 | -€57 | -0.9% |
| Other operating charges | 640/8 | €2,596 | €1,150 | -€1,446 | -55.7% |
| Gross operating margin | 9900 | -€6,676 | €5,082 | +€11,758 | |
| Operating profit (loss) | 9901 | -€15,895 | -€2,730 | +€13,165 | +82.8% |
| Financial income | 75/76B | €66 | €11,500 | +€11,434 | +17,324% |
| Recurring financial income | 75 | €66 | €11,500 | +€11,434 | +17,324% |
| Financial charges | 65/66B | €1,326 | €722 | -€604 | -45.6% |
| Recurring financial charges | 65 | €1,326 | €722 | -€604 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | -€17,154 | €8,049 | +€25,203 | |
| Income taxes | 67/77 | - | €214 | +€214 | |
| Profit (loss) for the period | 9904 | -€17,154 | €7,834 | +€24,988 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,154 | €7,834 | +€24,988 |
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.