TWALET: 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.
TWALET
Largest movements
- Stocks and contracts +€39,535
up €39,535 (+163%), from €24,200 to €63,736
of which Contracts in progress: +€34,635
- Cash +€11,124
up €11,124 (+203%), from €5,485 to €16,608
mainly Trade debts (+€43,967) and Short-term financial debts (+€29,000)
- Tangible fixed assets -€3,258
down €3,258 (-74.2%), from €4,389 to €1,131
- Receivables within one year -€1,885
down €1,885 (-3.9%), from €47,847 to €45,962
of which Trade receivables: -€23,807
- Trade debts +€43,967
up €43,967 (+243%), from €18,087 to €62,054
- Other debts -€40,234
no longer reported in 2025 (was €40,234)
- Short-term financial debts +€29,000
new in 2025: €29,000
- Reserves +€12,127
up €12,127 (+99.3%), from €12,218 to €24,345
- Tax, wage and social debts -€5,959
down €5,959 (-97.9%), from €6,085 to €126
- Gross operating margin +€3,072
up €3,072 (+16.0%), from €19,169 to €22,241
- Financial charges +€1,657
up €1,657 (+3,807%), from €44 to €1,700
- Depreciation +€1,374
up €1,374 (+48.7%), from €2,819 to €4,193
- Financial income +€350
up €350 (+34,616%), from €1 to €351
- Other operating charges +€274
up €274 (+217%), from €126 to €400
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 | €86,623 | €130,525 | +€43,902 | +50.7% |
| Fixed assets | 21/28 | €8,378 | €4,185 | -€4,193 | -50.0% |
| Intangible fixed assets | 21 | €3,988 | €3,053 | -€935 | -23.4% |
| Tangible fixed assets | 22/27 | €4,389 | €1,131 | -€3,258 | -74.2% |
| Plant, machinery and equipment | 23 | €4,389 | €1,131 | -€3,258 | -74.2% |
| Current assets | 29/58 | €78,246 | €126,340 | +€48,094 | +61.5% |
| Stocks and contracts in progress | 3 | €24,200 | €63,736 | +€39,535 | +163% |
| Stocks | 30/36 | €24,200 | €29,101 | +€4,901 | +20.3% |
| Contracts in progress | 37 | - | €34,635 | +€34,635 | |
| Amounts receivable within one year | 40/41 | €47,847 | €45,962 | -€1,885 | -3.9% |
| Trade receivables | 40 | €45,108 | €21,301 | -€23,807 | -52.8% |
| Other amounts receivable | 41 | €2,739 | €24,661 | +€21,922 | +800% |
| Cash at bank and in hand | 54/58 | €5,485 | €16,608 | +€11,124 | +203% |
| Deferred charges and accrued income | 490/1 | €713 | €34 | -€679 | -95.2% |
| Total equity and liabilities | 10/49 | €86,623 | €130,525 | +€43,902 | +50.7% |
| Equity | 10/15 | €22,218 | €34,345 | +€12,127 | +54.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €12,218 | €24,345 | +€12,127 | +99.3% |
| Distributable reserves | 133 | €12,218 | €24,345 | +€12,127 | +99.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €64,405 | €96,180 | +€31,775 | +49.3% |
| Amounts payable within one year | 42/48 | €64,405 | €96,180 | +€31,775 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,000 | +€5,000 | |
| Financial debts | 43 | - | €29,000 | +€29,000 | |
| Credit institutions | 430/8 | - | €29,000 | +€29,000 | |
| Trade debts | 44 | €18,087 | €62,054 | +€43,967 | +243% |
| Suppliers | 440/4 | €18,087 | €62,054 | +€43,967 | +243% |
| Taxes, remuneration and social security | 45 | €6,085 | €126 | -€5,959 | -97.9% |
| Taxes | 450/3 | €6,085 | €126 | -€5,959 | -97.9% |
| Other amounts payable | 47/48 | €40,234 | - | -€40,234 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,819 | €4,193 | +€1,374 | +48.7% |
| Other operating charges | 640/8 | €126 | €400 | +€274 | +217% |
| Gross operating margin | 9900 | €19,169 | €22,241 | +€3,072 | +16.0% |
| Operating profit (loss) | 9901 | €16,224 | €17,648 | +€1,425 | +8.8% |
| Financial income | 75/76B | €1 | €351 | +€350 | +34,616% |
| Recurring financial income | 75 | €1 | €351 | +€350 | +34,616% |
| Financial charges | 65/66B | €44 | €1,700 | +€1,657 | +3,807% |
| Recurring financial charges | 65 | €44 | €1,700 | +€1,657 | +3,807% |
| Profit (loss) for the period before taxes | 9903 | €16,181 | €16,299 | +€118 | +0.7% |
| Income taxes | 67/77 | €3,963 | €4,172 | +€209 | +5.3% |
| Profit (loss) for the period | 9904 | €12,218 | €12,127 | -€91 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,218 | €12,127 | -€91 | -0.7% |
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 13 October 2026 via checked.be.