TW PROJECTS: 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 PROJECTS
Largest movements
- Cash +€34,280
up €34,280 (+14.4%), from €237,820 to €272,100
mainly Net result for the year (+€15,393) and Depreciation (+€8,702)
- Tangible fixed assets -€12,405
down €12,405 (-8.9%), from €139,258 to €126,853
of which Furniture and vehicles: -€8,338
- Receivables within one year -€5,353
down €5,353 (-20.3%), from €26,314 to €20,961
of which Trade receivables: -€6,288
- Reserves +€15,393
up €15,393 (+10.9%), from €141,072 to €156,465
of which Distributable reserves: +€15,393
- Turnover -€60,396
down €60,396 (-22.8%), from €264,960 to €204,564
- Purchases and services -€38,995
down €38,995 (-33.3%), from €117,127 to €78,132
- Taxes +€6,157
up €6,157 (+93.7%), from €6,569 to €12,726
- Staff costs -€4,144
down €4,144 (-3.7%), from €113,407 to €109,263
- Financial income +€3,560
up €3,560 (+180.3%), from €1,975 to €5,535
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 | €410,642 | €425,718 | +€15,076 | +3.7% |
| Fixed assets | 21/28 | €139,258 | €126,853 | -€12,405 | -8.9% |
| Tangible fixed assets | 22/27 | €139,258 | €126,853 | -€12,405 | -8.9% |
| Land and buildings | 22 | €122,409 | €116,366 | -€6,043 | -4.9% |
| Plant, machinery and equipment | 23 | €2,379 | €4,355 | +€1,976 | +83.1% |
| Furniture and vehicles | 24 | €14,470 | €6,132 | -€8,338 | -57.6% |
| Current assets | 29/58 | €271,384 | €298,865 | +€27,481 | +10.1% |
| Amounts receivable within one year | 40/41 | €26,314 | €20,961 | -€5,353 | -20.3% |
| Trade receivables | 40 | €26,314 | €20,026 | -€6,288 | -23.9% |
| Other amounts receivable | 41 | - | €935 | +€935 | |
| Cash at bank and in hand | 54/58 | €237,820 | €272,100 | +€34,280 | +14.4% |
| Deferred charges and accrued income | 490/1 | €7,250 | €5,804 | -€1,446 | -19.9% |
| Total equity and liabilities | 10/49 | €410,642 | €425,718 | +€15,076 | +3.7% |
| Equity | 10/15 | €390,026 | €405,419 | +€15,393 | +3.9% |
| Contributions | 10/11 | €6,667 | €6,667 | = | 0.0% |
| Reserves | 13 | €141,072 | €156,465 | +€15,393 | +10.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €321 | €321 | = | 0.0% |
| Distributable reserves | 133 | €138,751 | €154,144 | +€15,393 | +11.1% |
| Profit (loss) carried forward | 14 | €242,287 | €242,287 | = | 0.0% |
| Amounts payable | 17/49 | €20,616 | €20,299 | -€317 | -1.5% |
| Amounts payable within one year | 42/48 | €20,616 | €20,299 | -€317 | -1.5% |
| Trade debts | 44 | €762 | €115 | -€647 | -84.9% |
| Suppliers | 440/4 | €762 | €115 | -€647 | -84.9% |
| Taxes, remuneration and social security | 45 | €16,647 | €16,169 | -€478 | -2.9% |
| Taxes | 450/3 | €8,659 | €10,959 | +€2,300 | +26.6% |
| Remuneration and social security | 454/9 | €7,988 | €5,210 | -€2,778 | -34.8% |
| Other amounts payable | 47/48 | €3,207 | €4,015 | +€808 | +25.2% |
| Turnover | 70 | €264,960 | €204,564 | -€60,396 | -22.8% |
| Non-recurring operating income | 76A | €380 | €19,070 | +€18,690 | +4918.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €117,127 | €78,132 | -€38,995 | -33.3% |
| Remuneration, social security and pensions | 62 | €113,407 | €109,263 | -€4,144 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,151 | €8,702 | -€3,449 | -28.4% |
| Other operating charges | 640/8 | €1,534 | €2,098 | +€564 | +36.8% |
| Gross operating margin | 9900 | €148,213 | €145,502 | -€2,711 | -1.8% |
| Operating profit (loss) | 9901 | €21,121 | €25,439 | +€4,318 | +20.4% |
| Financial income | 75/76B | €1,975 | €5,535 | +€3,560 | +180.3% |
| Recurring financial income | 75 | €1,975 | €5,535 | +€3,560 | +180.3% |
| Financial charges | 65/66B | €2,834 | €2,855 | +€21 | +0.7% |
| Recurring financial charges | 65 | €2,834 | €2,855 | +€21 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €20,262 | €28,119 | +€7,857 | +38.8% |
| Income taxes | 67/77 | €6,569 | €12,726 | +€6,157 | +93.7% |
| Profit (loss) for the period | 9904 | €13,693 | €15,393 | +€1,700 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,693 | €15,393 | +€1,700 | +12.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.