TWIN-CO: 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.
TWIN-CO
Largest movements
- Receivables after one year -€139,886
down €139,886 (-100%), from €139,886 to €0
- Receivables within one year -€35,624
down €35,624 (-25.7%), from €138,829 to €103,205
of which Trade receivables: -€33,257
- Cash -€16,247
down €16,247 (-57.9%), from €28,059 to €11,813
mainly Contributions, distributions and other (-€190,194) and Other debts (-€99,257)
- Other debts -€99,257
down €99,257 (-25.1%), from €395,634 to €296,377
- Debts after one year -€70,668
down €70,668 (-10.3%), from €684,071 to €613,403
of which Financial debts: -€69,165
- Turnover -€385,732
no longer reported in 2025 (was €385,732)
- Financial income -€267,165
down €267,165 (-98.6%), from €271,095 to €3,931
- Gross operating margin -€62,738
down €62,738 (-18.6%), from €336,422 to €273,684
- Purchases and services -€55,393
no longer reported in 2025 (was €55,393)
- Staff costs -€25,975
down €25,975 (-100%), from €25,975 to €0
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 | €1,583,813 | €1,402,919 | -€180,894 | -11.4% |
| Fixed assets | 21/28 | €1,276,636 | €1,287,285 | +€10,649 | +0.8% |
| Intangible fixed assets | 21 | €8,879 | €7,954 | -€925 | -10.4% |
| Tangible fixed assets | 22/27 | €354,678 | €366,252 | +€11,575 | +3.3% |
| Land and buildings | 22 | €352,776 | €353,207 | +€431 | +0.1% |
| Furniture and vehicles | 24 | €1,902 | €13,045 | +€11,143 | +586% |
| Financial fixed assets | 28 | €913,079 | €913,079 | = | 0.0% |
| Current assets | 29/58 | €307,178 | €115,634 | -€191,544 | -62.4% |
| Amounts receivable after more than one year | 29 | €139,886 | €0 | -€139,886 | -100% |
| Other amounts receivable | 291 | €139,886 | €0 | -€139,886 | -100% |
| Amounts receivable within one year | 40/41 | €138,829 | €103,205 | -€35,624 | -25.7% |
| Trade receivables | 40 | €34,185 | €928 | -€33,257 | -97.3% |
| Other amounts receivable | 41 | €104,644 | €102,277 | -€2,366 | -2.3% |
| Cash at bank and in hand | 54/58 | €28,059 | €11,813 | -€16,247 | -57.9% |
| Deferred charges and accrued income | 490/1 | €404 | €616 | +€212 | +52.5% |
| Total equity and liabilities | 10/49 | €1,583,813 | €1,402,919 | -€180,894 | -11.4% |
| Equity | 10/15 | €369,237 | €367,935 | -€1,302 | -0.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €365,935 | €365,935 | = | 0.0% |
| Distributable reserves | 133 | €365,935 | €365,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,302 | €0 | -€1,302 | -100% |
| Amounts payable | 17/49 | €1,214,576 | €1,034,984 | -€179,592 | -14.8% |
| Amounts payable after more than one year | 17 | €684,071 | €613,403 | -€70,668 | -10.3% |
| Financial debts | 170/4 | €352,795 | €283,631 | -€69,165 | -19.6% |
| Other amounts payable | 178/9 | €331,276 | €329,772 | -€1,503 | -0.5% |
| Amounts payable within one year | 42/48 | €524,931 | €421,286 | -€103,645 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €98,897 | €99,668 | +€772 | +0.8% |
| Trade debts | 44 | €5,184 | €1,271 | -€3,913 | -75.5% |
| Suppliers | 440/4 | €5,184 | €1,271 | -€3,913 | -75.5% |
| Taxes, remuneration and social security | 45 | €25,217 | €23,970 | -€1,247 | -4.9% |
| Taxes | 450/3 | €24,258 | €16,097 | -€8,161 | -33.6% |
| Remuneration and social security | 454/9 | €960 | €7,873 | +€6,913 | +720% |
| Other amounts payable | 47/48 | €395,634 | €296,377 | -€99,257 | -25.1% |
| Accrued charges and deferred income | 492/3 | €5,573 | €295 | -€5,279 | -94.7% |
| Turnover | 70 | €385,732 | - | -€385,732 | |
| Non-recurring operating income | 76A | €6,082 | €0 | -€6,082 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €55,393 | - | -€55,393 | |
| Remuneration, social security and pensions | 62 | €25,975 | €0 | -€25,975 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,713 | €15,514 | +€4,801 | +44.8% |
| Other operating charges | 640/8 | €3,356 | €3,652 | +€296 | +8.8% |
| Gross operating margin | 9900 | €336,422 | €273,684 | -€62,738 | -18.6% |
| Operating profit (loss) | 9901 | €296,377 | €254,518 | -€41,859 | -14.1% |
| Financial income | 75/76B | €271,095 | €3,931 | -€267,165 | -98.6% |
| Recurring financial income | 75 | €271,095 | €3,931 | -€267,165 | -98.6% |
| Financial charges | 65/66B | €10,133 | €6,507 | -€3,626 | -35.8% |
| Recurring financial charges | 65 | €10,133 | €6,507 | -€3,626 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €557,340 | €251,942 | -€305,398 | -54.8% |
| Income taxes | 67/77 | €74,038 | €63,051 | -€10,987 | -14.8% |
| Profit (loss) for the period | 9904 | €483,302 | €188,891 | -€294,411 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €483,302 | €188,891 | -€294,411 | -60.9% |
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 21 October 2026 via checked.be.