TW-Cycling Holding: what changed
What changed
TW-Cycling Holding
NACE 95.290, Repair and maintenance of other personal and household goods
filed annual accounts (NBB)
Net result for the year
-€48,597
2024 · -€66,881+€18,284
Equity
-€174,531
2024 · -€125,934-€48,597
Cash
€5,484
2024 · €4,961+€523
Balance sheet total
€233,553
2024 · €261,497-€27,944
Largest movements
Assets
- Tangible fixed assets -€29,071
down €29,071 (-12.0%), from €242,530 to €213,460
of which Furniture and vehicles: -€22,342
Equity and liabilities
- Profit (loss) carried forward -€48,597
down €48,597 (-36.8%), from -€132,134 to -€180,731
- Other debts +€10,858
up €10,858 (+4.3%), from €252,558 to €263,416
- Trade debts +€9,521
up €9,521 (+99.1%), from €9,607 to €19,128
Income statement
- Gross operating margin +€27,928
up €27,928 (+94.6%), from -€29,521 to -€1,593
- Depreciation +€9,156
up €9,156 (+25.2%), from €36,362 to €45,518
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.
Result 2024
-€66,881
Gross operating margin
+€27,928
Depreciation
-€9,156
Other operating charges
-€116
Other operating items
-€360
Financial income
+€21
Financial charges
-€4
Taxes
-€28
Result 2025
-€48,597
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€18,370
Investment
-€17,848
Financing
€0
Cash 2024
€4,961
From operations (derived)
+€18,370
Net result for the year
-€48,597
Depreciation
+€45,518
Stocks and contracts
+€1,358
Receivables within one year
-€484
Deferred charges and accrued income
-€78
Trade debts
+€9,521
Tax, wage and social debts
+€274
Other debts
+€10,858
Investment (derived)
-€17,848
Investment in fixed assets (net)
-€17,848
Cash 2025
€5,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,497 | €233,553 | -€27,944 | -10.7% |
| Fixed assets | 21/28 | €242,530 | €214,860 | -€27,671 | -11.4% |
| Intangible fixed assets | 21 | - | €1,400 | +€1,400 | |
| Tangible fixed assets | 22/27 | €242,530 | €213,460 | -€29,071 | -12.0% |
| Land and buildings | 22 | €59,670 | €70,024 | +€10,354 | +17.4% |
| Plant, machinery and equipment | 23 | €128,076 | €110,994 | -€17,082 | -13.3% |
| Furniture and vehicles | 24 | €54,784 | €32,442 | -€22,342 | -40.8% |
| Current assets | 29/58 | €18,967 | €18,694 | -€273 | -1.4% |
| Stocks and contracts in progress | 3 | €5,821 | €4,464 | -€1,358 | -23.3% |
| Stocks | 30/36 | €5,821 | €4,464 | -€1,358 | -23.3% |
| Amounts receivable within one year | 40/41 | €7,068 | €7,551 | +€484 | +6.8% |
| Trade receivables | 40 | €1,189 | €7,373 | +€6,184 | +520% |
| Other amounts receivable | 41 | €5,879 | €179 | -€5,700 | -97.0% |
| Cash at bank and in hand | 54/58 | €4,961 | €5,484 | +€523 | +10.5% |
| Deferred charges and accrued income | 490/1 | €1,116 | €1,195 | +€78 | +7.0% |
| Total equity and liabilities | 10/49 | €261,497 | €233,553 | -€27,944 | -10.7% |
| Equity | 10/15 | -€125,934 | -€174,531 | -€48,597 | -38.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,134 | -€180,731 | -€48,597 | -36.8% |
| Amounts payable | 17/49 | €387,431 | €408,084 | +€20,653 | +5.3% |
| Amounts payable after more than one year | 17 | €125,000 | €125,000 | = | 0.0% |
| Financial debts | 170/4 | €125,000 | €125,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €262,431 | €283,084 | +€20,653 | +7.9% |
| Trade debts | 44 | €9,607 | €19,128 | +€9,521 | +99.1% |
| Suppliers | 440/4 | €9,607 | €19,128 | +€9,521 | +99.1% |
| Taxes, remuneration and social security | 45 | €266 | €540 | +€274 | +103% |
| Taxes | 450/3 | €266 | €540 | +€274 | +103% |
| Other amounts payable | 47/48 | €252,558 | €263,416 | +€10,858 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,362 | €45,518 | +€9,156 | +25.2% |
| Other operating charges | 640/8 | €528 | €644 | +€116 | +22.0% |
| Non-recurring operating charges | 66A | - | €360 | +€360 | |
| Gross operating margin | 9900 | -€29,521 | -€1,593 | +€27,928 | +94.6% |
| Operating profit (loss) | 9901 | -€66,411 | -€48,115 | +€18,296 | +27.5% |
| Financial income | 75/76B | €2 | €23 | +€21 | +1,006% |
| Recurring financial income | 75 | €2 | €23 | +€21 | +1,006% |
| Financial charges | 65/66B | €206 | €211 | +€4 | +2.1% |
| Recurring financial charges | 65 | €206 | €211 | +€4 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€66,615 | -€48,303 | +€18,312 | +27.5% |
| Income taxes | 67/77 | €266 | €294 | +€28 | +10.6% |
| Profit (loss) for the period | 9904 | -€66,881 | -€48,597 | +€18,284 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,881 | -€48,597 | +€18,284 | +27.3% |
Next steps
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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.