Twilight Belgium: 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 Belgium
Largest movements
- Intangible fixed assets -€12,000
down €12,000 (-83.9%), from €14,309 to €2,309
- Cash -€3,345
down €3,345 (-99.7%), from €3,356 to €11
mainly Net result for the year (-€15,068) and Tax, wage and social debts (-€639)
- Profit (loss) carried forward -€15,068
down €15,068 (-19.4%), from -€77,499 to -€92,567
- Tax, wage and social debts -€639
no longer reported in 2025 (was €639)
- Other debts +€362
up €362 (+0.4%), from €93,044 to €93,406
- Financial charges -€40,350
down €40,350 (-99.9%), from €40,392 to €42
of which Non-recurring financial charges: -€40,392
- Gross operating margin -€3,123
down €3,123, from €241 to -€2,882
- Other operating charges -€1,221
down €1,221 (-89.4%), from €1,365 to €144
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 | €26,215 | €10,870 | -€15,345 | -58.5% |
| Fixed assets | 21/28 | €22,859 | €10,859 | -€12,000 | -52.5% |
| Intangible fixed assets | 21 | €14,309 | €2,309 | -€12,000 | -83.9% |
| Financial fixed assets | 28 | €8,550 | €8,550 | = | 0.0% |
| Current assets | 29/58 | €3,356 | €11 | -€3,345 | -99.7% |
| Cash at bank and in hand | 54/58 | €3,356 | €11 | -€3,345 | -99.7% |
| Total equity and liabilities | 10/49 | €26,215 | €10,870 | -€15,345 | -58.5% |
| Equity | 10/15 | -€67,468 | -€82,536 | -€15,068 | -22.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €31 | €31 | = | 0.0% |
| Distributable reserves | 133 | €31 | €31 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,499 | -€92,567 | -€15,068 | -19.4% |
| Amounts payable | 17/49 | €93,683 | €93,406 | -€277 | -0.3% |
| Amounts payable within one year | 42/48 | €93,683 | €93,406 | -€277 | -0.3% |
| Taxes, remuneration and social security | 45 | €639 | - | -€639 | |
| Taxes | 450/3 | €639 | - | -€639 | |
| Other amounts payable | 47/48 | €93,044 | €93,406 | +€362 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,000 | €12,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,365 | €144 | -€1,221 | -89.4% |
| Gross operating margin | 9900 | €241 | -€2,882 | -€3,123 | |
| Operating profit (loss) | 9901 | -€13,124 | -€15,026 | -€1,901 | -14.5% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €40,392 | €42 | -€40,350 | -99.9% |
| Recurring financial charges | 65 | €40,392 | €42 | -€40,350 | -99.9% |
| Non-recurring financial charges | 66B | €40,392 | - | -€40,392 | |
| Profit (loss) for the period before taxes | 9903 | -€53,499 | -€15,068 | +€38,431 | +71.8% |
| Profit (loss) for the period | 9904 | -€53,499 | -€15,068 | +€38,431 | +71.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,499 | -€15,068 | +€38,431 | +71.8% |
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 17 October 2026 via checked.be.