TWICE 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.
TWICE MORE
Largest movements
- Receivables within one year +€134,559
up €134,559 (+361.6%), from €37,207 to €171,766
of which Trade receivables: +€106,559
- Tangible fixed assets -€12,796
down €12,796 (-50.3%), from €25,445 to €12,649
- Tax, wage and social debts +€55,624
up €55,624 (+323.7%), from €17,184 to €72,808
- Reserves +€52,418
up €52,418 (+82.4%), from €63,627 to €116,046
- Other debts +€29,050
up €29,050 (+2359.9%), from €1,231 to €30,281
- Debts after one year -€12,267
no longer reported in 2025 (was €12,267)
- Current portion of long-term debt -€3,654
down €3,654 (-22.9%), from €15,920 to €12,267
- Gross operating margin +€69,349
up €69,349 (+129.4%), from €53,613 to €122,962
- Taxes +€21,234
up €21,234 (+198.1%), from €10,719 to €31,953
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 | €117,568 | €239,767 | +€122,199 | +103.9% |
| Fixed assets | 21/28 | €25,488 | €12,716 | -€12,773 | -50.1% |
| Tangible fixed assets | 22/27 | €25,445 | €12,649 | -€12,796 | -50.3% |
| Furniture and vehicles | 24 | €25,445 | €12,649 | -€12,796 | -50.3% |
| Financial fixed assets | 28 | €43 | €66 | +€23 | +53.3% |
| Current assets | 29/58 | €92,079 | €227,051 | +€134,972 | +146.6% |
| Amounts receivable within one year | 40/41 | €37,207 | €171,766 | +€134,559 | +361.6% |
| Trade receivables | 40 | €37,207 | €143,766 | +€106,559 | +286.4% |
| Other amounts receivable | 41 | - | €28,000 | +€28,000 | |
| Cash at bank and in hand | 54/58 | €54,306 | €54,810 | +€504 | +0.9% |
| Deferred charges and accrued income | 490/1 | €566 | €475 | -€91 | -16.1% |
| Total equity and liabilities | 10/49 | €117,568 | €239,767 | +€122,199 | +103.9% |
| Equity | 10/15 | €69,827 | €122,246 | +€52,418 | +75.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,627 | €116,046 | +€52,418 | +82.4% |
| Distributable reserves | 133 | €63,627 | €116,046 | +€52,418 | +82.4% |
| Amounts payable | 17/49 | €47,741 | €117,521 | +€69,781 | +146.2% |
| Amounts payable after more than one year | 17 | €12,267 | - | -€12,267 | |
| Financial debts | 170/4 | €12,267 | - | -€12,267 | |
| Amounts payable within one year | 42/48 | €35,474 | €117,521 | +€82,048 | +231.3% |
| Current portion of amounts payable after more than one year | 42 | €15,920 | €12,267 | -€3,654 | -22.9% |
| Trade debts | 44 | €1,138 | €2,165 | +€1,027 | +90.3% |
| Suppliers | 440/4 | €1,138 | €2,165 | +€1,027 | +90.3% |
| Taxes, remuneration and social security | 45 | €17,184 | €72,808 | +€55,624 | +323.7% |
| Taxes | 450/3 | €17,184 | €72,808 | +€55,624 | +323.7% |
| Other amounts payable | 47/48 | €1,231 | €30,281 | +€29,050 | +2359.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,637 | €13,084 | +€447 | +3.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €53,613 | €122,962 | +€69,349 | +129.4% |
| Operating profit (loss) | 9901 | €40,589 | €109,478 | +€68,889 | +169.7% |
| Financial charges | 65/66B | €862 | €670 | -€192 | -22.3% |
| Recurring financial charges | 65 | €479 | €299 | -€181 | -37.7% |
| Non-recurring financial charges | 66B | €383 | €371 | -€12 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €39,727 | €108,808 | +€69,082 | +173.9% |
| Income taxes | 67/77 | €10,719 | €31,953 | +€21,234 | +198.1% |
| Profit (loss) for the period | 9904 | €29,008 | €76,856 | +€47,848 | +164.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,008 | €76,856 | +€47,848 | +164.9% |
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 10 October 2026 via checked.be.