T&W Vastgoed: 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 Vastgoed
Largest movements
- Receivables within one year +€691,610
up €691,610 (+156%), from €442,012 to €1.1m
of which Trade receivables: +€348,073
- Stocks and contracts +€219,902
up €219,902 (+192%), from €114,452 to €334,354
- Cash -€214,484
down €214,484 (-87.3%), from €245,790 to €31,305
mainly Receivables within one year (-€691,610) and Stocks and contracts (-€219,902)
- Deferred charges and accrued income -€103,271
down €103,271 (-88.5%), from €116,705 to €13,435
- Trade debts +€494,848
up €494,848 (+1,069%), from €46,293 to €541,141
- Tax, wage and social debts +€33,258
up €33,258 (+46.6%), from €71,325 to €104,583
- Short-term financial debts +€31,495
up €31,495 (+34.5%), from €91,360 to €122,854
- Other debts +€30,200
up €30,200 (+27.5%), from €110,000 to €140,200
- Financial charges +€36,668
up €36,668 (+837%), from €4,380 to €41,048
- Gross operating margin +€21,333
up €21,333 (+73.0%), from €29,208 to €50,541
- Other operating charges +€9,882
up €9,882 (+364%), from €2,717 to €12,599
- Taxes -€6,587
down €6,587 (-84.7%), from €7,775 to €1,188
- Financial income +€1,138
up €1,138 (+17.7%), from €6,422 to €7,560
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 | €918,959 | €1,512,716 | +€593,757 | +64.6% |
| Current assets | 29/58 | €918,959 | €1,512,716 | +€593,757 | +64.6% |
| Stocks and contracts in progress | 3 | €114,452 | €334,354 | +€219,902 | +192% |
| Stocks | 30/36 | €114,452 | €334,354 | +€219,902 | +192% |
| Amounts receivable within one year | 40/41 | €442,012 | €1,133,622 | +€691,610 | +156% |
| Trade receivables | 40 | €13,354 | €361,427 | +€348,073 | +2,606% |
| Other amounts receivable | 41 | €428,658 | €772,195 | +€343,537 | +80.1% |
| Cash at bank and in hand | 54/58 | €245,790 | €31,305 | -€214,484 | -87.3% |
| Deferred charges and accrued income | 490/1 | €116,705 | €13,435 | -€103,271 | -88.5% |
| Total equity and liabilities | 10/49 | €918,959 | €1,512,716 | +€593,757 | +64.6% |
| Equity | 10/15 | €599,234 | €602,499 | +€3,265 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €531,034 | €534,299 | +€3,265 | +0.6% |
| Amounts payable | 17/49 | €319,725 | €910,217 | +€590,493 | +185% |
| Amounts payable within one year | 42/48 | €318,978 | €908,779 | +€589,801 | +185% |
| Financial debts | 43 | €91,360 | €122,854 | +€31,495 | +34.5% |
| Credit institutions | 430/8 | €91,360 | €122,854 | +€31,495 | +34.5% |
| Trade debts | 44 | €46,293 | €541,141 | +€494,848 | +1,069% |
| Suppliers | 440/4 | €46,293 | €541,141 | +€494,848 | +1,069% |
| Taxes, remuneration and social security | 45 | €71,325 | €104,583 | +€33,258 | +46.6% |
| Taxes | 450/3 | €71,325 | €104,583 | +€33,258 | +46.6% |
| Other amounts payable | 47/48 | €110,000 | €140,200 | +€30,200 | +27.5% |
| Accrued charges and deferred income | 492/3 | €747 | €1,438 | +€692 | +92.6% |
| Other operating charges | 640/8 | €2,717 | €12,599 | +€9,882 | +364% |
| Gross operating margin | 9900 | €29,208 | €50,541 | +€21,333 | +73.0% |
| Operating profit (loss) | 9901 | €26,491 | €37,942 | +€11,451 | +43.2% |
| Financial income | 75/76B | €6,422 | €7,560 | +€1,138 | +17.7% |
| Recurring financial income | 75 | €6,422 | €7,560 | +€1,138 | +17.7% |
| Financial charges | 65/66B | €4,380 | €41,048 | +€36,668 | +837% |
| Recurring financial charges | 65 | €4,380 | €41,048 | +€36,668 | +837% |
| Profit (loss) for the period before taxes | 9903 | €28,532 | €4,453 | -€24,080 | -84.4% |
| Income taxes | 67/77 | €7,775 | €1,188 | -€6,587 | -84.7% |
| Profit (loss) for the period | 9904 | €20,757 | €3,265 | -€17,493 | -84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,757 | €3,265 | -€17,493 | -84.3% |
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 1 November 2026 via checked.be.