TBWW: 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.
TBWW
Largest movements
- Tangible fixed assets +€9,376
up €9,376 (+10.5%), from €89,185 to €98,561
of which Furniture and vehicles: +€15,362
- Deferred charges and accrued income +€4,004
up €4,004 (+259%), from €1,544 to €5,548
- Cash +€3,142
up €3,142 (+14.9%), from €21,141 to €24,283
mainly Net result for the year (+€37,999) and Depreciation (+€24,185)
- Reserves +€37,950
up €37,950 (+78.6%), from €48,300 to €86,250
- Other debts -€16,375
down €16,375 (-47.9%), from €34,211 to €17,836
- Debts after one year -€10,139
down €10,139 (-59.1%), from €17,147 to €7,008
- Tax, wage and social debts +€4,808
up €4,808 (+94.5%), from €5,089 to €9,897
of which Taxes: +€5,219
- Short-term financial debts +€3,364
new in 2025: €3,364
- Depreciation +€12,403
up €12,403 (+105%), from €11,782 to €24,185
- Taxes -€3,341
down €3,341 (-15.9%), from €21,030 to €17,689
- Gross operating margin +€1,059
up €1,059 (+1.3%), from €82,890 to €83,949
- Financial charges +€880
up €880 (+100%), from €877 to €1,758
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 | €124,897 | €141,756 | +€16,859 | +13.5% |
| Fixed assets | 21/28 | €98,242 | €106,618 | +€8,376 | +8.5% |
| Intangible fixed assets | 21 | €9,058 | €8,058 | -€1,000 | -11.0% |
| Tangible fixed assets | 22/27 | €89,185 | €98,561 | +€9,376 | +10.5% |
| Plant, machinery and equipment | 23 | €26,550 | €20,564 | -€5,986 | -22.5% |
| Furniture and vehicles | 24 | €62,635 | €77,996 | +€15,362 | +24.5% |
| Current assets | 29/58 | €26,655 | €35,138 | +€8,484 | +31.8% |
| Amounts receivable within one year | 40/41 | €3,970 | €5,308 | +€1,338 | +33.7% |
| Trade receivables | 40 | - | €5,308 | +€5,308 | |
| Other amounts receivable | 41 | €3,970 | - | -€3,970 | |
| Cash at bank and in hand | 54/58 | €21,141 | €24,283 | +€3,142 | +14.9% |
| Deferred charges and accrued income | 490/1 | €1,544 | €5,548 | +€4,004 | +259% |
| Total equity and liabilities | 10/49 | €124,897 | €141,756 | +€16,859 | +13.5% |
| Equity | 10/15 | €52,321 | €90,320 | +€37,999 | +72.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €48,300 | €86,250 | +€37,950 | +78.6% |
| Distributable reserves | 133 | €48,300 | €86,250 | +€37,950 | +78.6% |
| Profit (loss) carried forward | 14 | €21 | €70 | +€49 | +239% |
| Amounts payable | 17/49 | €72,576 | €51,437 | -€21,140 | -29.1% |
| Amounts payable after more than one year | 17 | €17,147 | €7,008 | -€10,139 | -59.1% |
| Financial debts | 170/4 | €17,147 | €7,008 | -€10,139 | -59.1% |
| Amounts payable within one year | 42/48 | €55,429 | €44,429 | -€11,000 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €9,710 | €10,139 | +€430 | +4.4% |
| Financial debts | 43 | - | €3,364 | +€3,364 | |
| Credit institutions | 430/8 | - | €3,364 | +€3,364 | |
| Trade debts | 44 | €6,420 | €3,192 | -€3,228 | -50.3% |
| Suppliers | 440/4 | €6,420 | €3,192 | -€3,228 | -50.3% |
| Taxes, remuneration and social security | 45 | €5,089 | €9,897 | +€4,808 | +94.5% |
| Taxes | 450/3 | €2,839 | €8,057 | +€5,219 | +184% |
| Remuneration and social security | 454/9 | €2,250 | €1,840 | -€410 | -18.2% |
| Other amounts payable | 47/48 | €34,211 | €17,836 | -€16,375 | -47.9% |
| Remuneration, social security and pensions | 62 | €207 | €421 | +€214 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,782 | €24,185 | +€12,403 | +105% |
| Other operating charges | 640/8 | €1,525 | €1,913 | +€388 | +25.5% |
| Gross operating margin | 9900 | €82,890 | €83,949 | +€1,059 | +1.3% |
| Operating profit (loss) | 9901 | €69,377 | €57,430 | -€11,947 | -17.2% |
| Financial income | 75/76B | €851 | €17 | -€834 | -98.0% |
| Recurring financial income | 75 | €851 | €17 | -€834 | -98.0% |
| Financial charges | 65/66B | €877 | €1,758 | +€880 | +100% |
| Recurring financial charges | 65 | €877 | €1,758 | +€880 | +100% |
| Profit (loss) for the period before taxes | 9903 | €69,351 | €55,689 | -€13,662 | -19.7% |
| Income taxes | 67/77 | €21,030 | €17,689 | -€3,341 | -15.9% |
| Profit (loss) for the period | 9904 | €48,321 | €37,999 | -€10,321 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,321 | €37,999 | -€10,321 | -21.4% |
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 13 October 2026 via checked.be.