TW59: 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.
TW59
Largest movements
- Cash +€39,805
up €39,805 (+142.4%), from €27,960 to €67,765
mainly Receivables within one year (+€28,162) and Net result for the year (+€19,688)
- Receivables within one year -€28,162
down €28,162 (-41.5%), from €67,888 to €39,726
of which Trade receivables: -€18,451
- Tangible fixed assets -€9,337
down €9,337 (-13.7%), from €68,291 to €58,954
of which Leasing and similar rights: -€10,217
- Current portion of long-term debt -€23,394
down €23,394 (-68.6%), from €34,126 to €10,732
- Reserves +€19,688
up €19,688 (+25.5%), from €77,235 to €96,924
- Debts after one year +€14,686
new in 2025: €14,686
- Trade debts -€9,923
down €9,923 (-93.4%), from €10,629 to €706
- Tax, wage and social debts +€9,247
up €9,247 (+58.6%), from €15,776 to €25,023
- Gross operating margin -€5,294
down €5,294 (-10.5%), from €50,496 to €45,201
- Taxes -€1,272
down €1,272 (-12.1%), from €10,519 to €9,247
- Other operating charges -€983
down €983 (-76.9%), from €1,278 to €295
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 | €166,328 | €168,991 | +€2,663 | +1.6% |
| Formation expenses | 20 | €156 | €156 | = | 0.0% |
| Fixed assets | 21/28 | €68,377 | €59,040 | -€9,337 | -13.7% |
| Tangible fixed assets | 22/27 | €68,291 | €58,954 | -€9,337 | -13.7% |
| Plant, machinery and equipment | 23 | €8,884 | €11,106 | +€2,222 | +25.0% |
| Furniture and vehicles | 24 | €20,697 | €19,354 | -€1,342 | -6.5% |
| Leasing and similar rights | 25 | €38,711 | €28,494 | -€10,217 | -26.4% |
| Financial fixed assets | 28 | €86 | €86 | = | 0.0% |
| Current assets | 29/58 | €97,795 | €109,794 | +€12,000 | +12.3% |
| Amounts receivable within one year | 40/41 | €67,888 | €39,726 | -€28,162 | -41.5% |
| Trade receivables | 40 | €27,468 | €9,017 | -€18,451 | -67.2% |
| Other amounts receivable | 41 | €40,420 | €30,710 | -€9,711 | -24.0% |
| Cash at bank and in hand | 54/58 | €27,960 | €67,765 | +€39,805 | +142.4% |
| Deferred charges and accrued income | 490/1 | €1,946 | €2,303 | +€356 | +18.3% |
| Total equity and liabilities | 10/49 | €166,328 | €168,991 | +€2,663 | +1.6% |
| Equity | 10/15 | €82,235 | €101,924 | +€19,688 | +23.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €77,235 | €96,924 | +€19,688 | +25.5% |
| Distributable reserves | 133 | €77,235 | €96,924 | +€19,688 | +25.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,093 | €67,067 | -€17,025 | -20.2% |
| Amounts payable after more than one year | 17 | - | €14,686 | +€14,686 | |
| Financial debts | 170/4 | - | €14,686 | +€14,686 | |
| Amounts payable within one year | 42/48 | €84,093 | €52,381 | -€31,712 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €34,126 | €10,732 | -€23,394 | -68.6% |
| Trade debts | 44 | €10,629 | €706 | -€9,923 | -93.4% |
| Suppliers | 440/4 | €10,629 | €706 | -€9,923 | -93.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,776 | €25,023 | +€9,247 | +58.6% |
| Taxes | 450/3 | €15,776 | €25,023 | +€9,247 | +58.6% |
| Other amounts payable | 47/48 | €23,562 | €15,920 | -€7,642 | -32.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,997 | €14,238 | +€241 | +1.7% |
| Other operating charges | 640/8 | €1,278 | €295 | -€983 | -76.9% |
| Gross operating margin | 9900 | €50,496 | €45,201 | -€5,294 | -10.5% |
| Operating profit (loss) | 9901 | €35,221 | €30,668 | -€4,552 | -12.9% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €2,168 | €1,736 | -€432 | -19.9% |
| Recurring financial charges | 65 | €2,168 | €1,736 | -€432 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €33,053 | €28,935 | -€4,118 | -12.5% |
| Income taxes | 67/77 | €10,519 | €9,247 | -€1,272 | -12.1% |
| Profit (loss) for the period | 9904 | €22,534 | €19,688 | -€2,846 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,534 | €19,688 | -€2,846 | -12.6% |
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 29 September 2026 via checked.be.