TWENTY & MORE: 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.
TWENTY & MORE
Largest movements
- Tangible fixed assets +€480,284
up €480,284 (+277%), from €173,329 to €653,613
of which Land and buildings: +€479,013
- Receivables within one year -€48,623
down €48,623 (-27.4%), from €177,739 to €129,116
of which Trade receivables: -€48,643
- Cash +€12,578
up €12,578 (+57.1%), from €22,014 to €34,592
mainly Debts after one year (+€234,652) and Other debts (+€162,138)
- Debts after one year +€234,652
up €234,652 (+230%), from €102,101 to €336,753
- Other debts +€162,138
up €162,138 (+318%), from €51,000 to €213,138
- Tax, wage and social debts +€36,723
up €36,723 (+137%), from €26,718 to €63,441
of which Taxes: +€32,723
- Current portion of long-term debt +€27,045
up €27,045 (+106%), from €25,577 to €52,622
- Depreciation +€62,378
up €62,378 (+208%), from €29,975 to €92,353
- Gross operating margin -€10,589
down €10,589 (-6.2%), from €171,907 to €161,318
- Financial charges +€8,882
up €8,882 (+193%), from €4,614 to €13,496
- Financial income +€8,549
new in 2025: €8,549
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 | €425,903 | €878,633 | +€452,729 | +106% |
| Fixed assets | 21/28 | €173,329 | €653,613 | +€480,284 | +277% |
| Tangible fixed assets | 22/27 | €173,329 | €653,613 | +€480,284 | +277% |
| Land and buildings | 22 | €167,840 | €646,853 | +€479,013 | +285% |
| Plant, machinery and equipment | 23 | €5,488 | €6,760 | +€1,271 | +23.2% |
| Current assets | 29/58 | €252,575 | €225,020 | -€27,555 | -10.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Trade receivables | 290 | €50,000 | €0 | -€50,000 | -100% |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €177,739 | €129,116 | -€48,623 | -27.4% |
| Trade receivables | 40 | €74,263 | €25,621 | -€48,643 | -65.5% |
| Other amounts receivable | 41 | €103,476 | €103,496 | +€20 | 0.0% |
| Cash at bank and in hand | 54/58 | €22,014 | €34,592 | +€12,578 | +57.1% |
| Deferred charges and accrued income | 490/1 | €2,822 | €11,312 | +€8,490 | +301% |
| Total equity and liabilities | 10/49 | €425,903 | €878,633 | +€452,729 | +106% |
| Equity | 10/15 | €218,199 | €210,498 | -€7,701 | -3.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €215,699 | €207,998 | -€7,701 | -3.6% |
| Distributable reserves | 133 | €215,699 | €207,998 | -€7,701 | -3.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €207,704 | €668,135 | +€460,430 | +222% |
| Amounts payable after more than one year | 17 | €102,101 | €336,753 | +€234,652 | +230% |
| Financial debts | 170/4 | €102,101 | €336,753 | +€234,652 | +230% |
| Amounts payable within one year | 42/48 | €105,603 | €330,487 | +€224,884 | +213% |
| Current portion of amounts payable after more than one year | 42 | €25,577 | €52,622 | +€27,045 | +106% |
| Trade debts | 44 | €2,309 | €1,286 | -€1,023 | -44.3% |
| Suppliers | 440/4 | €2,309 | €1,286 | -€1,023 | -44.3% |
| Taxes, remuneration and social security | 45 | €26,718 | €63,441 | +€36,723 | +137% |
| Taxes | 450/3 | €26,718 | €59,441 | +€32,723 | +122% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €51,000 | €213,138 | +€162,138 | +318% |
| Accrued charges and deferred income | 492/3 | - | €895 | +€895 | |
| Non-recurring operating income | 76A | €10,845 | €0 | -€10,845 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,975 | €92,353 | +€62,378 | +208% |
| Other operating charges | 640/8 | €3,285 | €1,713 | -€1,572 | -47.8% |
| Gross operating margin | 9900 | €171,907 | €161,318 | -€10,589 | -6.2% |
| Operating profit (loss) | 9901 | €138,647 | €67,252 | -€71,395 | -51.5% |
| Financial income | 75/76B | - | €8,549 | +€8,549 | |
| Recurring financial income | 75 | - | €8,549 | +€8,549 | |
| Financial charges | 65/66B | €4,614 | €13,496 | +€8,882 | +193% |
| Recurring financial charges | 65 | €4,614 | €13,496 | +€8,882 | +193% |
| Profit (loss) for the period before taxes | 9903 | €134,034 | €62,305 | -€71,728 | -53.5% |
| Income taxes | 67/77 | €27,557 | €28,594 | +€1,038 | +3.8% |
| Profit (loss) for the period | 9904 | €106,477 | €33,711 | -€72,766 | -68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €106,477 | €33,711 | -€72,766 | -68.3% |
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 24 October 2026 via checked.be.