TWEHA: 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.
TWEHA
Largest movements
- Receivables within one year +€38,441
up €38,441 (+57.5%), from €66,906 to €105,347
of which Trade receivables: +€39,852
- Tangible fixed assets -€7,083
down €7,083 (-17.2%), from €41,096 to €34,012
of which Plant, machinery and equipment: -€5,216
- Stocks and contracts +€5,045
up €5,045 (+29.8%), from €16,902 to €21,946
- Cash -€4,567
down €4,567 (-24.6%), from €18,556 to €13,989
mainly Contributions, distributions and other (-€70,000) and Receivables within one year (-€38,441)
- Other debts +€29,106
up €29,106 (+58.2%), from €50,000 to €79,106
- Tax, wage and social debts +€5,197
up €5,197, from €0 to €5,197
- Accrued charges and deferred income -€2,948
down €2,948 (-100.0%), from €2,948 to €0
- Reserves +€2,570
up €2,570 (+3.9%), from €65,425 to €67,995
- Trade debts -€2,109
down €2,109 (-39.7%), from €5,311 to €3,202
- Gross operating margin +€55,082
up €55,082 (+101.6%), from €54,236 to €109,317
- Taxes +€9,580
up €9,580 (+63.5%), from €15,087 to €24,667
- Depreciation +€5,620
up €5,620 (+74.8%), from €7,513 to €13,133
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 | €143,685 | €175,500 | +€31,815 | +22.1% |
| Fixed assets | 21/28 | €41,096 | €34,012 | -€7,083 | -17.2% |
| Tangible fixed assets | 22/27 | €41,096 | €34,012 | -€7,083 | -17.2% |
| Plant, machinery and equipment | 23 | €37,394 | €32,178 | -€5,216 | -13.9% |
| Furniture and vehicles | 24 | €3,702 | €1,835 | -€1,867 | -50.4% |
| Current assets | 29/58 | €102,589 | €141,488 | +€38,899 | +37.9% |
| Stocks and contracts in progress | 3 | €16,902 | €21,946 | +€5,045 | +29.8% |
| Stocks | 30/36 | €16,902 | €21,946 | +€5,045 | +29.8% |
| Amounts receivable within one year | 40/41 | €66,906 | €105,347 | +€38,441 | +57.5% |
| Trade receivables | 40 | €41,893 | €81,745 | +€39,852 | +95.1% |
| Other amounts receivable | 41 | €25,013 | €23,601 | -€1,412 | -5.6% |
| Cash at bank and in hand | 54/58 | €18,556 | €13,989 | -€4,567 | -24.6% |
| Deferred charges and accrued income | 490/1 | €225 | €206 | -€19 | -8.5% |
| Total equity and liabilities | 10/49 | €143,685 | €175,500 | +€31,815 | +22.1% |
| Equity | 10/15 | €85,425 | €87,995 | +€2,570 | +3.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €65,425 | €67,995 | +€2,570 | +3.9% |
| Distributable reserves | 133 | €65,425 | €67,995 | +€2,570 | +3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,259 | €87,505 | +€29,246 | +50.2% |
| Amounts payable within one year | 42/48 | €55,311 | €87,505 | +€32,194 | +58.2% |
| Trade debts | 44 | €5,311 | €3,202 | -€2,109 | -39.7% |
| Suppliers | 440/4 | €5,311 | €3,202 | -€2,109 | -39.7% |
| Taxes, remuneration and social security | 45 | €0 | €5,197 | +€5,197 | |
| Taxes | 450/3 | €0 | €5,197 | +€5,197 | |
| Other amounts payable | 47/48 | €50,000 | €79,106 | +€29,106 | +58.2% |
| Accrued charges and deferred income | 492/3 | €2,948 | €0 | -€2,948 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,513 | €13,133 | +€5,620 | +74.8% |
| Other operating charges | 640/8 | €449 | €62 | -€387 | -86.2% |
| Gross operating margin | 9900 | €54,236 | €109,317 | +€55,082 | +101.6% |
| Operating profit (loss) | 9901 | €46,273 | €96,122 | +€49,849 | +107.7% |
| Financial income | 75/76B | €1,031 | €1,225 | +€194 | +18.8% |
| Recurring financial income | 75 | €1,031 | €1,225 | +€194 | +18.8% |
| Financial charges | 65/66B | €55 | €110 | +€55 | +98.8% |
| Recurring financial charges | 65 | €55 | €110 | +€55 | +98.8% |
| Profit (loss) for the period before taxes | 9903 | €47,249 | €97,237 | +€49,988 | +105.8% |
| Income taxes | 67/77 | €15,087 | €24,667 | +€9,580 | +63.5% |
| Profit (loss) for the period | 9904 | €32,162 | €72,570 | +€40,408 | +125.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,162 | €72,570 | +€40,408 | +125.6% |
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 4 October 2026 via checked.be.