THE LEFT TWIN: what changed
THE LEFT TWIN
Largest movements
- Stocks and contracts +€5.6m
up €5.6m (+38.0%), from €14.6m to €20.2m
- Financial fixed assets +€2.1m
up €2.1m (+2,224%), from €95,544 to €2.2m
- Receivables within one year +€1.4m
up €1.4m (+472%), from €291,213 to €1.7m
- Cash -€456,463
down €456,463 (-79.1%), from €577,403 to €120,941
mainly Debts after one year (-€12.9m) and Stocks and contracts (-€5.6m)
- Deferred charges and accrued income +€380,871
up €380,871 (+60.4%), from €630,740 to €1.0m
- Short-term financial debts +€20.2m
new in 2025: €20.2m
- Debts after one year -€12.9m
down €12.9m (-86.0%), from €15.0m to €2.1m
- Trade debts +€1.0m
up €1.0m (+72.1%), from €1.4m to €2.4m
- Profit (loss) carried forward +€291,587
up €291,587 (+15.3%), from -€1.9m to -€1.6m
- Gross operating margin +€664,283
up €664,283 (+558%), from €119,121 to €783,405
- Other operating charges +€229,932
up €229,932 (+247%), from €93,155 to €323,087
- Financial charges +€125,243
up €125,243 (+184%), from €68,075 to €193,318
- Financial income +€22,959
up €22,959 (+1,410%), from €1,628 to €24,587
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,209,281 | €25,187,397 | +€9.0m | +55.4% |
| Fixed assets | 21/28 | €95,544 | €2,220,130 | +€2.1m | +2,224% |
| Financial fixed assets | 28 | €95,544 | €2,220,130 | +€2.1m | +2,224% |
| Current assets | 29/58 | €16,113,738 | €22,967,267 | +€6.9m | +42.5% |
| Stocks and contracts in progress | 3 | €14,614,382 | €20,168,873 | +€5.6m | +38.0% |
| Stocks | 30/36 | €14,614,382 | €20,168,873 | +€5.6m | +38.0% |
| Amounts receivable within one year | 40/41 | €291,213 | €1,665,843 | +€1.4m | +472% |
| Trade receivables | 40 | €291,213 | €1,665,843 | +€1.4m | +472% |
| Cash at bank and in hand | 54/58 | €577,403 | €120,941 | -€456,463 | -79.1% |
| Deferred charges and accrued income | 490/1 | €630,740 | €1,011,611 | +€380,871 | +60.4% |
| Total equity and liabilities | 10/49 | €16,209,281 | €25,187,397 | +€9.0m | +55.4% |
| Equity | 10/15 | -€251,384 | €40,204 | +€291,587 | |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €402,306 | €402,306 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,115 | €20,115 | = | 0.0% |
| Legal reserve | 130 | €20,115 | €20,115 | = | 0.0% |
| Distributable reserves | 133 | €382,190 | €382,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,903,689 | -€1,612,102 | +€291,587 | +15.3% |
| Amounts payable | 17/49 | €16,460,665 | €25,147,194 | +€8.7m | +52.8% |
| Amounts payable after more than one year | 17 | €14,993,436 | €2,100,000 | -€12.9m | -86.0% |
| Financial debts | 170/4 | €14,993,436 | €2,100,000 | -€12.9m | -86.0% |
| Amounts payable within one year | 42/48 | €1,444,831 | €22,934,230 | +€21.5m | +1,487% |
| Financial debts | 43 | - | €20,232,102 | +€20.2m | |
| Credit institutions | 430/8 | - | €20,232,102 | +€20.2m | |
| Trade debts | 44 | €1,416,903 | €2,438,411 | +€1.0m | +72.1% |
| Suppliers | 440/4 | €1,416,903 | €2,438,411 | +€1.0m | +72.1% |
| Taxes, remuneration and social security | 45 | €27,928 | €263,717 | +€235,789 | +844% |
| Taxes | 450/3 | €27,928 | €263,717 | +€235,789 | +844% |
| Accrued charges and deferred income | 492/3 | €22,398 | €112,963 | +€90,565 | +404% |
| Other operating charges | 640/8 | €93,155 | €323,087 | +€229,932 | +247% |
| Gross operating margin | 9900 | €119,121 | €783,405 | +€664,283 | +558% |
| Operating profit (loss) | 9901 | €25,966 | €460,318 | +€434,352 | +1,673% |
| Financial income | 75/76B | €1,628 | €24,587 | +€22,959 | +1,410% |
| Recurring financial income | 75 | €1,628 | €24,587 | +€22,959 | +1,410% |
| Financial charges | 65/66B | €68,075 | €193,318 | +€125,243 | +184% |
| Recurring financial charges | 65 | €68,075 | €193,318 | +€125,243 | +184% |
| Profit (loss) for the period before taxes | 9903 | -€40,481 | €291,587 | +€332,068 | |
| Profit (loss) for the period | 9904 | -€40,481 | €291,587 | +€332,068 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,481 | €291,587 | +€332,068 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.