TW-GENERATION: what changed
Two fiscal 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.
TW-GENERATION
Largest movements
- Tangible fixed assets -€31,474
down €31,474 (-8.1%), from €387,079 to €355,605
of which Land and buildings: -€31,136
- Cash +€26,372
up €26,372 (+44.2%), from €59,640 to €86,012
mainly Other debts (+€63,592) and Net result for the year (+€35,323)
- Receivables within one year -€25,300
down €25,300 (-15.3%), from €165,184 to €139,884
of which Trade receivables: -€20,329
- Reserves -€94,677
down €94,677 (-32.2%), from €293,857 to €199,179
- Other debts +€63,592
up €63,592 (+43.3%), from €146,790 to €210,382
- Gross operating margin +€15,925
up €15,925 (+12.2%), from €130,967 to €146,892
- Taxes +€6,319
up €6,319 (+62.8%), from €10,060 to €16,380
- Staff costs -€5,180
down €5,180 (-8.7%), from €59,683 to €54,503
- Depreciation -€3,445
down €3,445 (-9.9%), from €34,919 to €31,474
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.
Cash bridge derived
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 | €614,115 | €583,577 | -€30,538 | -5.0% |
| Fixed assets | 21/28 | €387,079 | €355,605 | -€31,474 | -8.1% |
| Tangible fixed assets | 22/27 | €387,079 | €355,605 | -€31,474 | -8.1% |
| Land and buildings | 22 | €386,741 | €355,605 | -€31,136 | -8.1% |
| Furniture and vehicles | 24 | €338 | - | -€338 | |
| Current assets | 29/58 | €227,037 | €227,973 | +€936 | +0.4% |
| Amounts receivable within one year | 40/41 | €165,184 | €139,884 | -€25,300 | -15.3% |
| Trade receivables | 40 | €160,213 | €139,884 | -€20,329 | -12.7% |
| Other amounts receivable | 41 | €4,971 | - | -€4,971 | |
| Cash at bank and in hand | 54/58 | €59,640 | €86,012 | +€26,372 | +44.2% |
| Deferred charges and accrued income | 490/1 | €2,213 | €2,077 | -€136 | -6.1% |
| Total equity and liabilities | 10/49 | €614,115 | €583,577 | -€30,538 | -5.0% |
| Equity | 10/15 | €353,857 | €259,179 | -€94,677 | -26.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €293,857 | €199,179 | -€94,677 | -32.2% |
| Distributable reserves | 133 | €293,857 | €199,179 | -€94,677 | -32.2% |
| Amounts payable | 17/49 | €260,259 | €324,398 | +€64,139 | +24.6% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €200,259 | €264,398 | +€64,139 | +32.0% |
| Financial debts | 43 | €3,420 | €4,812 | +€1,392 | +40.7% |
| Credit institutions | 430/8 | €3,420 | €4,812 | +€1,392 | +40.7% |
| Trade debts | 44 | €6,652 | €3,919 | -€2,733 | -41.1% |
| Suppliers | 440/4 | €6,652 | €3,919 | -€2,733 | -41.1% |
| Taxes, remuneration and social security | 45 | €43,396 | €45,284 | +€1,888 | +4.4% |
| Taxes | 450/3 | €37,938 | €34,740 | -€3,198 | -8.4% |
| Remuneration and social security | 454/9 | €5,458 | €10,544 | +€5,087 | +93.2% |
| Other amounts payable | 47/48 | €146,790 | €210,382 | +€63,592 | +43.3% |
| Remuneration, social security and pensions | 62 | €59,683 | €54,503 | -€5,180 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,919 | €31,474 | -€3,445 | -9.9% |
| Other operating charges | 640/8 | €4,054 | €4,364 | +€310 | +7.6% |
| Gross operating margin | 9900 | €130,967 | €146,892 | +€15,925 | +12.2% |
| Operating profit (loss) | 9901 | €32,310 | €56,551 | +€24,241 | +75.0% |
| Financial income | 75/76B | €271 | €121 | -€150 | -55.3% |
| Recurring financial income | 75 | €271 | €121 | -€150 | -55.3% |
| Financial charges | 65/66B | €3,646 | €4,970 | +€1,324 | +36.3% |
| Recurring financial charges | 65 | €3,646 | €4,970 | +€1,324 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €28,935 | €51,703 | +€22,768 | +78.7% |
| Income taxes | 67/77 | €10,060 | €16,380 | +€6,319 | +62.8% |
| Profit (loss) for the period | 9904 | €18,875 | €35,323 | +€16,448 | +87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,875 | €35,323 | +€16,448 | +87.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.