TWIG: 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.
TWIG
Largest movements
- Cash -€62,759
down €62,759 (-12.7%), from €493,931 to €431,172
mainly Contributions, distributions and other (-€80,000) and Other debts (-€67,788)
- Stocks and contracts -€40,987
down €40,987 (-6.1%), from €670,767 to €629,780
- Receivables within one year -€31,620
down €31,620 (-22.7%), from €139,520 to €107,899
of which Other amounts receivable: -€103,831
- Reserves -€80,000
down €80,000 (-42.6%), from €187,986 to €107,986
of which Distributable reserves: -€80,000
- Other debts -€67,788
down €67,788 (-45.1%), from €150,435 to €82,647
- Trade debts +€46,521
up €46,521 (+348.8%), from €13,339 to €59,860
- Profit (loss) carried forward -€25,628
down €25,628 (-3.9%), from €664,033 to €638,405
- Gross operating margin +€8,398
up €8,398 (+26.6%), from -€31,515 to -€23,117
- Financial income -€6,652
no longer reported in 2025 (was €6,652)
- Financial charges -€739
down €739 (-57.9%), from €1,276 to €538
- Depreciation -€546
down €546 (-38.1%), from €1,433 to €887
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 | €1,305,816 | €1,171,004 | -€134,812 | -10.3% |
| Fixed assets | 21/28 | €1,151 | €264 | -€887 | -77.0% |
| Tangible fixed assets | 22/27 | €1,151 | €264 | -€887 | -77.0% |
| Furniture and vehicles | 24 | €1,151 | €264 | -€887 | -77.0% |
| Current assets | 29/58 | €1,304,665 | €1,170,739 | -€133,925 | -10.3% |
| Stocks and contracts in progress | 3 | €670,767 | €629,780 | -€40,987 | -6.1% |
| Stocks | 30/36 | €670,767 | €629,780 | -€40,987 | -6.1% |
| Amounts receivable within one year | 40/41 | €139,520 | €107,899 | -€31,620 | -22.7% |
| Trade receivables | 40 | €12,789 | €85,000 | +€72,211 | +564.6% |
| Other amounts receivable | 41 | €126,731 | €22,899 | -€103,831 | -81.9% |
| Cash at bank and in hand | 54/58 | €493,931 | €431,172 | -€62,759 | -12.7% |
| Deferred charges and accrued income | 490/1 | €446 | €1,888 | +€1,441 | +322.9% |
| Total equity and liabilities | 10/49 | €1,305,816 | €1,171,004 | -€134,812 | -10.3% |
| Equity | 10/15 | €870,620 | €764,992 | -€105,628 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €187,986 | €107,986 | -€80,000 | -42.6% |
| Non-distributable reserves | 130/1 | €7,986 | €7,986 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,986 | €7,986 | = | 0.0% |
| Distributable reserves | 133 | €180,000 | €100,000 | -€80,000 | -44.4% |
| Profit (loss) carried forward | 14 | €664,033 | €638,405 | -€25,628 | -3.9% |
| Provisions and deferred taxes | 16 | €260,000 | €260,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €260,000 | €260,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €260,000 | €260,000 | = | 0.0% |
| Amounts payable | 17/49 | €175,196 | €146,012 | -€29,184 | -16.7% |
| Amounts payable within one year | 42/48 | €171,691 | €142,508 | -€29,184 | -17.0% |
| Trade debts | 44 | €13,339 | €59,860 | +€46,521 | +348.8% |
| Suppliers | 440/4 | €13,339 | €59,860 | +€46,521 | +348.8% |
| Taxes, remuneration and social security | 45 | €7,918 | - | -€7,918 | |
| Taxes | 450/3 | €7,918 | - | -€7,918 | |
| Other amounts payable | 47/48 | €150,435 | €82,647 | -€67,788 | -45.1% |
| Accrued charges and deferred income | 492/3 | €3,505 | €3,505 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,433 | €887 | -€546 | -38.1% |
| Other operating charges | 640/8 | €865 | €1,086 | +€221 | +25.6% |
| Gross operating margin | 9900 | -€31,515 | -€23,117 | +€8,398 | +26.6% |
| Operating profit (loss) | 9901 | -€33,814 | -€25,091 | +€8,723 | +25.8% |
| Financial income | 75/76B | €6,652 | - | -€6,652 | |
| Recurring financial income | 75 | €6,652 | - | -€6,652 | |
| Financial charges | 65/66B | €1,276 | €538 | -€739 | -57.9% |
| Recurring financial charges | 65 | €1,276 | €538 | -€739 | -57.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,438 | -€25,628 | +€2,810 | +9.9% |
| Profit (loss) for the period | 9904 | -€28,438 | -€25,628 | +€2,810 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,438 | -€25,628 | +€2,810 | +9.9% |
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 11 October 2026 via checked.be.