TWC Systems: 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.
TWC Systems
Largest movements
- Intangible fixed assets -€40,832
down €40,832 (-30.1%), from €135,638 to €94,806
- Tangible fixed assets +€30,987
up €30,987 (+143.4%), from €21,603 to €52,591
- Cash +€17,153
up €17,153 (+5011.3%), from €342 to €17,495
mainly Other debts (+€79,820) and Depreciation (+€61,762)
- Receivables within one year -€1,993
down €1,993 (-71.2%), from €2,799 to €807
of which Other amounts receivable: -€1,993
- Other debts +€79,820
up €79,820 (+34.9%), from €229,000 to €308,820
- Profit (loss) carried forward -€78,518
down €78,518 (-49.5%), from -€158,652 to -€237,170
- Debts after one year +€5,369
up €5,369 (+5.0%), from €107,388 to €112,757
- Gross operating margin +€18,048
up €18,048 (+61.6%), from -€29,302 to -€11,254
- Depreciation +€8,753
up €8,753 (+16.5%), from €53,009 to €61,762
- Financial income +€471
new in 2025: €471
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 | €185,901 | €192,641 | +€6,740 | +3.6% |
| Fixed assets | 21/28 | €157,241 | €147,397 | -€9,844 | -6.3% |
| Intangible fixed assets | 21 | €135,638 | €94,806 | -€40,832 | -30.1% |
| Tangible fixed assets | 22/27 | €21,603 | €52,591 | +€30,987 | +143.4% |
| Plant, machinery and equipment | 23 | €21,603 | €52,591 | +€30,987 | +143.4% |
| Current assets | 29/58 | €28,660 | €45,244 | +€16,584 | +57.9% |
| Stocks and contracts in progress | 3 | €25,310 | €26,730 | +€1,420 | +5.6% |
| Stocks | 30/36 | €25,310 | €26,730 | +€1,420 | +5.6% |
| Amounts receivable within one year | 40/41 | €2,799 | €807 | -€1,993 | -71.2% |
| Trade receivables | 40 | €458 | €458 | = | 0.0% |
| Other amounts receivable | 41 | €2,341 | €349 | -€1,993 | -85.1% |
| Cash at bank and in hand | 54/58 | €342 | €17,495 | +€17,153 | +5011.3% |
| Deferred charges and accrued income | 490/1 | €209 | €213 | +€4 | +2.1% |
| Total equity and liabilities | 10/49 | €185,901 | €192,641 | +€6,740 | +3.6% |
| Equity | 10/15 | -€153,652 | -€232,170 | -€78,518 | -51.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,652 | -€237,170 | -€78,518 | -49.5% |
| Amounts payable | 17/49 | €339,553 | €424,811 | +€85,258 | +25.1% |
| Amounts payable after more than one year | 17 | €107,388 | €112,757 | +€5,369 | +5.0% |
| Financial debts | 170/4 | €107,388 | €112,757 | +€5,369 | +5.0% |
| Amounts payable within one year | 42/48 | €232,165 | €312,054 | +€79,888 | +34.4% |
| Trade debts | 44 | €25 | €93 | +€69 | +279.2% |
| Suppliers | 440/4 | €25 | €93 | +€69 | +279.2% |
| Advances received on contracts in progress | 46 | €3,141 | €3,141 | = | 0.0% |
| Other amounts payable | 47/48 | €229,000 | €308,820 | +€79,820 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,009 | €61,762 | +€8,753 | +16.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€29,302 | -€11,254 | +€18,048 | +61.6% |
| Operating profit (loss) | 9901 | -€82,698 | -€73,416 | +€9,283 | +11.2% |
| Financial income | 75/76B | - | €471 | +€471 | |
| Recurring financial income | 75 | - | €471 | +€471 | |
| Financial charges | 65/66B | €5,303 | €5,573 | +€270 | +5.1% |
| Recurring financial charges | 65 | €5,303 | €5,573 | +€270 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | -€88,002 | -€78,518 | +€9,484 | +10.8% |
| Profit (loss) for the period | 9904 | -€88,002 | -€78,518 | +€9,484 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,002 | -€78,518 | +€9,484 | +10.8% |
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 5 October 2026 via checked.be.