TW-HOME: 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.
TW-HOME
Largest movements
- Receivables within one year -€223,715
down €223,715 (-84.2%), from €265,667 to €41,951
of which Trade receivables: -€232,061
- Stocks and contracts +€39,947
new in 2025: €39,947
- Tangible fixed assets -€39,226
down €39,226 (-21.7%), from €181,069 to €141,843
of which Land and buildings: -€22,531
- Current investments -€32,875
down €32,875 (-77.5%), from €42,434 to €9,559
- Trade debts -€223,740
down €223,740 (-77.2%), from €289,928 to €66,188
- Profit (loss) carried forward -€37,264
down €37,264 (-206%), from -€18,056 to -€55,320
- Short-term financial debts +€25,000
up €25,000 (+100%), from €25,000 to €50,000
- Debts after one year -€9,564
no longer reported in 2025 (was €9,564)
- Current portion of long-term debt -€9,492
down €9,492 (-49.8%), from €19,056 to €9,564
- Financial income +€19,443
up €19,443 (+123%), from €15,829 to €35,272
of which Financial income: +€17,365
- Gross operating margin -€13,956
down €13,956, from €6,632 to -€7,324
- Financial charges -€11,401
down €11,401 (-34.8%), from €32,794 to €21,393
- Depreciation +€1,436
up €1,436 (+3.8%), from €37,790 to €39,226
- Other operating charges -€715
down €715 (-14.1%), from €5,072 to €4,357
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 | €529,909 | €271,387 | -€258,522 | -48.8% |
| Fixed assets | 21/28 | €181,069 | €141,843 | -€39,226 | -21.7% |
| Tangible fixed assets | 22/27 | €181,069 | €141,843 | -€39,226 | -21.7% |
| Land and buildings | 22 | €155,217 | €132,687 | -€22,531 | -14.5% |
| Plant, machinery and equipment | 23 | €2,031 | €834 | -€1,197 | -58.9% |
| Leasing and similar rights | 25 | €23,821 | €8,323 | -€15,499 | -65.1% |
| Current assets | 29/58 | €348,840 | €129,544 | -€219,296 | -62.9% |
| Stocks and contracts in progress | 3 | - | €39,947 | +€39,947 | |
| Stocks | 30/36 | - | €39,947 | +€39,947 | |
| Amounts receivable within one year | 40/41 | €265,667 | €41,951 | -€223,715 | -84.2% |
| Trade receivables | 40 | €264,819 | €32,758 | -€232,061 | -87.6% |
| Other amounts receivable | 41 | €847 | €9,193 | +€8,346 | +985% |
| Current investments | 50/53 | €42,434 | €9,559 | -€32,875 | -77.5% |
| Cash at bank and in hand | 54/58 | €37,795 | €35,291 | -€2,504 | -6.6% |
| Deferred charges and accrued income | 490/1 | €2,945 | €2,795 | -€149 | -5.1% |
| Total equity and liabilities | 10/49 | €529,909 | €271,387 | -€258,522 | -48.8% |
| Equity | 10/15 | €161,766 | €124,502 | -€37,264 | -23.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €167,422 | €167,422 | = | 0.0% |
| Distributable reserves | 133 | €167,422 | €167,422 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,056 | -€55,320 | -€37,264 | -206% |
| Amounts payable | 17/49 | €368,143 | €146,885 | -€221,259 | -60.1% |
| Amounts payable after more than one year | 17 | €9,564 | - | -€9,564 | |
| Financial debts | 170/4 | €9,564 | - | -€9,564 | |
| Amounts payable within one year | 42/48 | €357,016 | €146,193 | -€210,822 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €19,056 | €9,564 | -€9,492 | -49.8% |
| Financial debts | 43 | €25,000 | €50,000 | +€25,000 | +100% |
| Credit institutions | 430/8 | €25,000 | €50,000 | +€25,000 | +100% |
| Trade debts | 44 | €289,928 | €66,188 | -€223,740 | -77.2% |
| Suppliers | 440/4 | €289,928 | €66,188 | -€223,740 | -77.2% |
| Advances received on contracts in progress | 46 | €17,972 | €19,147 | +€1,175 | +6.5% |
| Taxes, remuneration and social security | 45 | €2,982 | €1,295 | -€1,687 | -56.6% |
| Taxes | 450/3 | €2,982 | €435 | -€2,547 | -85.4% |
| Remuneration and social security | 454/9 | - | €860 | +€860 | |
| Other amounts payable | 47/48 | €2,078 | - | -€2,078 | |
| Accrued charges and deferred income | 492/3 | €1,564 | €692 | -€873 | -55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,790 | €39,226 | +€1,436 | +3.8% |
| Other operating charges | 640/8 | €5,072 | €4,357 | -€715 | -14.1% |
| Gross operating margin | 9900 | €6,632 | -€7,324 | -€13,956 | |
| Operating profit (loss) | 9901 | -€36,230 | -€50,907 | -€14,677 | -40.5% |
| Financial income | 75/76B | €15,829 | €35,272 | +€19,443 | +123% |
| Recurring financial income | 75 | €15,829 | €33,194 | +€17,365 | +110% |
| Non-recurring financial income | 76B | - | €2,078 | +€2,078 | |
| Financial charges | 65/66B | €32,794 | €21,393 | -€11,401 | -34.8% |
| Recurring financial charges | 65 | €32,794 | €21,393 | -€11,401 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,195 | -€37,028 | +€16,166 | +30.4% |
| Income taxes | 67/77 | €257 | €235 | -€21 | -8.3% |
| Profit (loss) for the period | 9904 | -€53,451 | -€37,264 | +€16,188 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,451 | -€37,264 | +€16,188 | +30.3% |
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 26 October 2026 via checked.be.