Twentyseven: 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.
Twentyseven
Largest movements
- Tangible fixed assets +€270,095
up €270,095 (+333%), from €81,193 to €351,287
of which Other tangible fixed assets: +€215,933
- Receivables within one year -€33,038
down €33,038 (-50.5%), from €65,481 to €32,444
of which Other amounts receivable: -€21,540
- Cash -€14,824
down €14,824 (-40.7%), from €36,447 to €21,623
mainly Investment in fixed assets (net) (-€313,698) and Net result for the year (-€27,959)
- Debts after one year +€238,184
up €238,184 (+500%), from €47,629 to €285,813
- Reserves -€30,000
down €30,000 (-32.1%), from €93,590 to €63,590
- Current portion of long-term debt +€12,432
up €12,432 (+41.8%), from €29,715 to €42,147
- Trade debts +€7,975
up €7,975 (+3,311%), from €241 to €8,216
- Tax, wage and social debts -€4,719
down €4,719 (-52.4%), from €9,013 to €4,294
- Gross operating margin -€46,048
down €46,048 (-65.5%), from €70,335 to €24,287
- Depreciation +€16,448
up €16,448 (+62.8%), from €26,189 to €42,637
- Taxes -€9,456
down €9,456 (-98.1%), from €9,639 to €184
- Financial charges +€5,863
up €5,863 (+203%), from €2,888 to €8,751
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 | €183,121 | €409,034 | +€225,913 | +123% |
| Fixed assets | 21/28 | €81,193 | €352,254 | +€271,061 | +334% |
| Intangible fixed assets | 21 | - | €966 | +€966 | |
| Tangible fixed assets | 22/27 | €81,193 | €351,287 | +€270,095 | +333% |
| Plant, machinery and equipment | 23 | €537 | €105 | -€432 | -80.4% |
| Furniture and vehicles | 24 | €54,004 | €108,597 | +€54,593 | +101% |
| Other tangible fixed assets | 26 | €26,651 | €242,585 | +€215,933 | +810% |
| Current assets | 29/58 | €101,929 | €56,781 | -€45,148 | -44.3% |
| Amounts receivable within one year | 40/41 | €65,481 | €32,444 | -€33,038 | -50.5% |
| Trade receivables | 40 | €31,498 | €20,000 | -€11,498 | -36.5% |
| Other amounts receivable | 41 | €33,984 | €12,444 | -€21,540 | -63.4% |
| Cash at bank and in hand | 54/58 | €36,447 | €21,623 | -€14,824 | -40.7% |
| Deferred charges and accrued income | 490/1 | - | €2,714 | +€2,714 | |
| Total equity and liabilities | 10/49 | €183,121 | €409,034 | +€225,913 | +123% |
| Equity | 10/15 | €96,523 | €68,565 | -€27,959 | -29.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €93,590 | €63,590 | -€30,000 | -32.1% |
| Distributable reserves | 133 | €93,590 | €63,590 | -€30,000 | -32.1% |
| Profit (loss) carried forward | 14 | €433 | €2,475 | +€2,041 | +471% |
| Amounts payable | 17/49 | €86,598 | €340,470 | +€253,872 | +293% |
| Amounts payable after more than one year | 17 | €47,629 | €285,813 | +€238,184 | +500% |
| Financial debts | 170/4 | €47,629 | €285,813 | +€238,184 | +500% |
| Amounts payable within one year | 42/48 | €38,969 | €54,657 | +€15,688 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | €29,715 | €42,147 | +€12,432 | +41.8% |
| Trade debts | 44 | €241 | €8,216 | +€7,975 | +3,311% |
| Suppliers | 440/4 | €241 | €8,216 | +€7,975 | +3,311% |
| Taxes, remuneration and social security | 45 | €9,013 | €4,294 | -€4,719 | -52.4% |
| Taxes | 450/3 | €9,013 | €4,294 | -€4,719 | -52.4% |
| Non-recurring operating income | 76A | - | €11,063 | +€11,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,189 | €42,637 | +€16,448 | +62.8% |
| Other operating charges | 640/8 | €528 | €751 | +€224 | +42.3% |
| Gross operating margin | 9900 | €70,335 | €24,287 | -€46,048 | -65.5% |
| Operating profit (loss) | 9901 | €43,617 | -€19,102 | -€62,719 | |
| Financial income | 75/76B | €0 | €77 | +€77 | +29,573% |
| Recurring financial income | 75 | €0 | €77 | +€77 | +29,573% |
| Financial charges | 65/66B | €2,888 | €8,751 | +€5,863 | +203% |
| Recurring financial charges | 65 | €2,888 | €8,751 | +€5,863 | +203% |
| Profit (loss) for the period before taxes | 9903 | €40,730 | -€27,775 | -€68,505 | |
| Income taxes | 67/77 | €9,639 | €184 | -€9,456 | -98.1% |
| Profit (loss) for the period | 9904 | €31,091 | -€27,959 | -€59,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,091 | -€27,959 | -€59,049 |
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.