Twenty3: 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.
Twenty3
Largest movements
- Cash +€27,351
up €27,351 (+142.5%), from €19,200 to €46,551
mainly Net result for the year (+€43,510) and Other debts (+€42,634)
- Tangible fixed assets -€5,028
down €5,028 (-11.8%), from €42,523 to €37,496
of which Furniture and vehicles: -€7,728
- Receivables within one year -€2,018
down €2,018 (-5.9%), from €34,463 to €32,445
of which Trade receivables: -€4,724
- Other debts +€42,634
up €42,634 (+220.6%), from €19,328 to €61,962
- Reserves -€22,887
down €22,887 (-51.1%), from €44,747 to €21,860
of which Distributable reserves: -€22,887
- Trade debts -€12,887
down €12,887 (-88.4%), from €14,586 to €1,698
- Tax, wage and social debts +€9,644
up €9,644 (+309.6%), from €3,115 to €12,759
- Short-term financial debts +€3,059
up €3,059 (+91.3%), from €3,352 to €6,411
- Gross operating margin +€30,171
up €30,171 (+70.2%), from €42,961 to €73,132
- Taxes +€5,576
up €5,576 (+89.8%), from €6,205 to €11,781
- Depreciation +€1,867
up €1,867 (+18.2%), from €10,244 to €12,111
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 | €103,727 | €123,290 | +€19,562 | +18.9% |
| Fixed assets | 21/28 | €42,523 | €37,496 | -€5,028 | -11.8% |
| Tangible fixed assets | 22/27 | €42,523 | €37,496 | -€5,028 | -11.8% |
| Land and buildings | 22 | €16,798 | €15,761 | -€1,037 | -6.2% |
| Plant, machinery and equipment | 23 | €2,747 | €7,828 | +€5,080 | +184.9% |
| Furniture and vehicles | 24 | €16,882 | €9,154 | -€7,728 | -45.8% |
| Other tangible fixed assets | 26 | €6,095 | €4,753 | -€1,343 | -22.0% |
| Current assets | 29/58 | €61,204 | €85,794 | +€24,590 | +40.2% |
| Amounts receivable within one year | 40/41 | €34,463 | €32,445 | -€2,018 | -5.9% |
| Trade receivables | 40 | €30,014 | €25,289 | -€4,724 | -15.7% |
| Other amounts receivable | 41 | €4,450 | €7,156 | +€2,706 | +60.8% |
| Cash at bank and in hand | 54/58 | €19,200 | €46,551 | +€27,351 | +142.5% |
| Deferred charges and accrued income | 490/1 | €7,541 | €6,798 | -€743 | -9.9% |
| Total equity and liabilities | 10/49 | €103,727 | €123,290 | +€19,562 | +18.9% |
| Equity | 10/15 | €63,347 | €40,460 | -€22,887 | -36.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,747 | €21,860 | -€22,887 | -51.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €42,887 | €20,000 | -€22,887 | -53.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,380 | €82,830 | +€42,449 | +105.1% |
| Amounts payable within one year | 42/48 | €40,380 | €82,830 | +€42,449 | +105.1% |
| Financial debts | 43 | €3,352 | €6,411 | +€3,059 | +91.3% |
| Credit institutions | 430/8 | €3,352 | €6,411 | +€3,059 | +91.3% |
| Trade debts | 44 | €14,586 | €1,698 | -€12,887 | -88.4% |
| Suppliers | 440/4 | €14,586 | €1,698 | -€12,887 | -88.4% |
| Taxes, remuneration and social security | 45 | €3,115 | €12,759 | +€9,644 | +309.6% |
| Taxes | 450/3 | €3,115 | €12,759 | +€9,644 | +309.6% |
| Other amounts payable | 47/48 | €19,328 | €61,962 | +€42,634 | +220.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,244 | €12,111 | +€1,867 | +18.2% |
| Other operating charges | 640/8 | €1,580 | €1,534 | -€46 | -2.9% |
| Gross operating margin | 9900 | €42,961 | €73,132 | +€30,171 | +70.2% |
| Operating profit (loss) | 9901 | €31,138 | €59,487 | +€28,350 | +91.0% |
| Financial income | 75/76B | €365 | €30 | -€335 | -91.8% |
| Recurring financial income | 75 | €365 | €30 | -€335 | -91.8% |
| Financial charges | 65/66B | €4,532 | €4,226 | -€305 | -6.7% |
| Recurring financial charges | 65 | €4,532 | €4,226 | -€305 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €26,970 | €55,291 | +€28,320 | +105.0% |
| Income taxes | 67/77 | €6,205 | €11,781 | +€5,576 | +89.8% |
| Profit (loss) for the period | 9904 | €20,765 | €43,510 | +€22,745 | +109.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,765 | €43,510 | +€22,745 | +109.5% |
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.