Twenty8: 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.
Twenty8
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+35.6%), from €4.1m to €5.6m
of which Trade receivables: +€1.5m
- Cash -€134,554
down €134,554 (-27.9%), from €482,196 to €347,642
mainly Receivables within one year (-€1.5m) and Other debts (-€271,535)
- Trade debts +€732,280
up €732,280 (+50.6%), from €1.4m to €2.2m
- Profit (loss) carried forward +€579,918
up €579,918 (+264,597%), from €219 to €580,137
- Short-term financial debts +€450,000
up €450,000 (+17.3%), from €2.6m to €3.1m
- Other debts -€271,535
no longer reported in 2025 (was €271,535)
- Accrued charges and deferred income -€187,343
down €187,343 (-90.2%), from €207,668 to €20,324
- Gross operating margin +€973,010
up €973,010 (+96.9%), from €1.0m to €2.0m
- Staff costs +€513,429
up €513,429 (+99.2%), from €517,721 to €1.0m
- Taxes +€114,836
up €114,836 (+115%), from €99,722 to €214,557
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 | €4,747,018 | €6,080,167 | +€1.3m | +28.1% |
| Fixed assets | 21/28 | €105,701 | €69,121 | -€36,580 | -34.6% |
| Tangible fixed assets | 22/27 | €102,491 | €65,911 | -€36,580 | -35.7% |
| Plant, machinery and equipment | 23 | €63,990 | €47,540 | -€16,450 | -25.7% |
| Furniture and vehicles | 24 | €38,501 | €18,371 | -€20,130 | -52.3% |
| Financial fixed assets | 28 | €3,210 | €3,210 | = | 0.0% |
| Current assets | 29/58 | €4,641,317 | €6,011,046 | +€1.4m | +29.5% |
| Amounts receivable within one year | 40/41 | €4,096,348 | €5,556,044 | +€1.5m | +35.6% |
| Trade receivables | 40 | €3,028,919 | €4,564,809 | +€1.5m | +50.7% |
| Other amounts receivable | 41 | €1,067,430 | €991,235 | -€76,195 | -7.1% |
| Cash at bank and in hand | 54/58 | €482,196 | €347,642 | -€134,554 | -27.9% |
| Deferred charges and accrued income | 490/1 | €62,772 | €107,360 | +€44,588 | +71.0% |
| Total equity and liabilities | 10/49 | €4,747,018 | €6,080,167 | +€1.3m | +28.1% |
| Equity | 10/15 | €68,419 | €648,337 | +€579,918 | +848% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219 | €580,137 | +€579,918 | +264,597% |
| Amounts payable | 17/49 | €4,678,599 | €5,431,830 | +€753,231 | +16.1% |
| Amounts payable after more than one year | 17 | €8,204 | - | -€8,204 | |
| Financial debts | 170/4 | €8,204 | - | -€8,204 | |
| Amounts payable within one year | 42/48 | €4,462,727 | €5,411,505 | +€948,778 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €97,669 | €75,924 | -€21,745 | -22.3% |
| Financial debts | 43 | €2,600,000 | €3,050,000 | +€450,000 | +17.3% |
| Credit institutions | 430/8 | €2,600,000 | €3,050,000 | +€450,000 | +17.3% |
| Trade debts | 44 | €1,447,036 | €2,179,316 | +€732,280 | +50.6% |
| Suppliers | 440/4 | €1,447,036 | €2,179,316 | +€732,280 | +50.6% |
| Taxes, remuneration and social security | 45 | €46,487 | €106,266 | +€59,778 | +129% |
| Remuneration and social security | 454/9 | €46,487 | €106,266 | +€59,778 | +129% |
| Other amounts payable | 47/48 | €271,535 | - | -€271,535 | |
| Accrued charges and deferred income | 492/3 | €207,668 | €20,324 | -€187,343 | -90.2% |
| Remuneration, social security and pensions | 62 | €517,721 | €1,031,150 | +€513,429 | +99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,324 | €27,652 | +€327 | +1.2% |
| Other operating charges | 640/8 | €1,715 | €1,364 | -€351 | -20.5% |
| Non-recurring operating charges | 66A | - | €11,614 | +€11,614 | |
| Gross operating margin | 9900 | €1,004,360 | €1,977,370 | +€973,010 | +96.9% |
| Operating profit (loss) | 9901 | €457,600 | €905,591 | +€447,991 | +97.9% |
| Financial income | 75/76B | €31,575 | €23,638 | -€7,936 | -25.1% |
| Recurring financial income | 75 | €31,575 | €23,638 | -€7,936 | -25.1% |
| Financial charges | 65/66B | €117,938 | €134,534 | +€16,596 | +14.1% |
| Recurring financial charges | 65 | €117,938 | €134,534 | +€16,596 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €371,237 | €794,695 | +€423,458 | +114% |
| Income taxes | 67/77 | €99,722 | €214,557 | +€114,836 | +115% |
| Profit (loss) for the period | 9904 | €271,515 | €580,137 | +€308,622 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €271,515 | €580,137 | +€308,622 | +114% |
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 15 October 2026 via checked.be.