TWILIGHT: 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.
TWILIGHT
Largest movements
- Cash +€11,485
up €11,485 (+23.7%), from €48,385 to €59,870
mainly Net result for the year (+€24,522) and Stocks and contracts (+€4,809)
- Stocks and contracts -€4,809
no longer reported in 2025 (was €4,809)
- Receivables within one year +€4,483
up €4,483 (+53.5%), from €8,374 to €12,857
of which Other amounts receivable: +€2,830
- Tangible fixed assets -€4,189
no longer reported in 2025 (was €4,189)
- Deferred charges and accrued income -€1,137
no longer reported in 2025 (was €1,137)
- Reserves +€24,522
up €24,522 (+102.8%), from €23,860 to €48,382
of which Distributable reserves: +€24,522
- Debts after one year -€14,000
no longer reported in 2025 (was €14,000)
- Tax, wage and social debts -€2,312
down €2,312 (-73.2%), from €3,160 to €848
- Trade debts -€1,745
down €1,745 (-41.1%), from €4,245 to €2,499
- Taxes +€5,569
up €5,569 (+84.9%), from €6,561 to €12,130
- Gross operating margin -€5,104
down €5,104 (-12.0%), from €42,671 to €37,568
- Other operating charges -€3,093
down €3,093 (-76.1%), from €4,067 to €974
- Depreciation -€1,893
no longer reported in 2025 (was €1,893)
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 | €66,894 | €72,728 | +€5,834 | +8.7% |
| Fixed assets | 21/28 | €4,189 | - | -€4,189 | |
| Tangible fixed assets | 22/27 | €4,189 | - | -€4,189 | |
| Plant, machinery and equipment | 23 | €4,189 | - | -€4,189 | |
| Current assets | 29/58 | €62,705 | €72,728 | +€10,023 | +16.0% |
| Stocks and contracts in progress | 3 | €4,809 | - | -€4,809 | |
| Stocks | 30/36 | €4,809 | - | -€4,809 | |
| Amounts receivable within one year | 40/41 | €8,374 | €12,857 | +€4,483 | +53.5% |
| Trade receivables | 40 | €78 | €1,731 | +€1,653 | +2119.2% |
| Other amounts receivable | 41 | €8,296 | €11,126 | +€2,830 | +34.1% |
| Cash at bank and in hand | 54/58 | €48,385 | €59,870 | +€11,485 | +23.7% |
| Deferred charges and accrued income | 490/1 | €1,137 | - | -€1,137 | |
| Total equity and liabilities | 10/49 | €66,894 | €72,728 | +€5,834 | +8.7% |
| Equity | 10/15 | €44,859 | €69,380 | +€24,522 | +54.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,860 | €48,382 | +€24,522 | +102.8% |
| 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 | €22,000 | €46,522 | +€24,522 | +111.5% |
| Profit (loss) carried forward | 14 | €2,399 | €2,399 | = | 0.0% |
| Amounts payable | 17/49 | €22,035 | €3,347 | -€18,688 | -84.8% |
| Amounts payable after more than one year | 17 | €14,000 | - | -€14,000 | |
| Financial debts | 170/4 | €14,000 | - | -€14,000 | |
| Amounts payable within one year | 42/48 | €8,035 | €3,347 | -€4,688 | -58.3% |
| Financial debts | 43 | €630 | - | -€630 | |
| Credit institutions | 430/8 | €630 | - | -€630 | |
| Trade debts | 44 | €4,245 | €2,499 | -€1,745 | -41.1% |
| Suppliers | 440/4 | €4,245 | €2,499 | -€1,745 | -41.1% |
| Taxes, remuneration and social security | 45 | €3,160 | €848 | -€2,312 | -73.2% |
| Taxes | 450/3 | €3,160 | €848 | -€2,312 | -73.2% |
| Non-recurring operating income | 76A | - | €1,050 | +€1,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,893 | - | -€1,893 | |
| Other operating charges | 640/8 | €4,067 | €974 | -€3,093 | -76.1% |
| Gross operating margin | 9900 | €42,671 | €37,568 | -€5,104 | -12.0% |
| Operating profit (loss) | 9901 | €36,711 | €36,594 | -€117 | -0.3% |
| Financial income | 75/76B | €316 | €406 | +€90 | +28.6% |
| Recurring financial income | 75 | €316 | €406 | +€90 | +28.6% |
| Financial charges | 65/66B | €157 | €348 | +€191 | +121.5% |
| Recurring financial charges | 65 | €157 | €348 | +€191 | +121.5% |
| Profit (loss) for the period before taxes | 9903 | €36,870 | €36,652 | -€218 | -0.6% |
| Income taxes | 67/77 | €6,561 | €12,130 | +€5,569 | +84.9% |
| Profit (loss) for the period | 9904 | €30,309 | €24,522 | -€5,787 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,309 | €24,522 | -€5,787 | -19.1% |
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.