TWIN TEAM: what changed
TWIN TEAM
Largest movements
- Intangible fixed assets -€62,900
down €62,900 (-13.8%), from €456,025 to €393,125
- Receivables after one year -€32,737
down €32,737 (-29.9%), from €109,508 to €76,771
- Tangible fixed assets -€15,361
down €15,361 (-5.9%), from €258,296 to €242,936
of which Other tangible fixed assets: -€9,880
- Cash -€14,126
no longer reported in 2025 (was €14,126)
mainly Debts after one year (-€78,420) and Trade debts (-€36,311)
- Debts after one year -€78,420
down €78,420 (-15.9%), from €492,919 to €414,500
- Trade debts -€36,311
down €36,311 (-28.1%), from €129,022 to €92,711
- Tax, wage and social debts +€24,329
up €24,329 (+116%), from €21,000 to €45,330
of which Taxes: +€24,836
- Short-term financial debts -€22,265
down €22,265 (-89.1%), from €25,000 to €2,735
of which Other loans: -€25,000
- Profit (loss) carried forward -€13,435
down €13,435 (-47.1%), from €28,542 to €15,107
- Gross operating margin -€14,609
down €14,609 (-6.2%), from €234,442 to €219,833
- Staff costs -€11,321
down €11,321 (-13.6%), from €83,507 to €72,186
- Taxes +€9,102
up €9,102 (+24.7%), from €36,867 to €45,970
- Other operating charges +€7,826
up €7,826 (+496%), from €1,577 to €9,402
- Financial charges -€2,577
down €2,577 (-12.6%), from €20,384 to €17,808
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €838,908 | €714,402 | -€124,505 | -14.8% |
| Fixed assets | 21/28 | €714,911 | €636,651 | -€78,261 | -10.9% |
| Intangible fixed assets | 21 | €456,025 | €393,125 | -€62,900 | -13.8% |
| Tangible fixed assets | 22/27 | €258,296 | €242,936 | -€15,361 | -5.9% |
| Land and buildings | 22 | €181,796 | €174,572 | -€7,224 | -4.0% |
| Furniture and vehicles | 24 | €9,644 | €11,387 | +€1,743 | +18.1% |
| Other tangible fixed assets | 26 | €66,856 | €56,976 | -€9,880 | -14.8% |
| Financial fixed assets | 28 | €590 | €590 | = | 0.0% |
| Current assets | 29/58 | €123,996 | €77,752 | -€46,245 | -37.3% |
| Amounts receivable after more than one year | 29 | €109,508 | €76,771 | -€32,737 | -29.9% |
| Other amounts receivable | 291 | €109,508 | €76,771 | -€32,737 | -29.9% |
| Cash at bank and in hand | 54/58 | €14,126 | - | -€14,126 | |
| Deferred charges and accrued income | 490/1 | €362 | €981 | +€619 | +171% |
| Total equity and liabilities | 10/49 | €838,908 | €714,402 | -€124,505 | -14.8% |
| Equity | 10/15 | €94,141 | €80,707 | -€13,435 | -14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,999 | €46,999 | = | 0.0% |
| 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 | €45,139 | €45,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,542 | €15,107 | -€13,435 | -47.1% |
| Amounts payable | 17/49 | €744,766 | €633,695 | -€111,071 | -14.9% |
| Amounts payable after more than one year | 17 | €492,919 | €414,500 | -€78,420 | -15.9% |
| Financial debts | 170/4 | €492,919 | €414,500 | -€78,420 | -15.9% |
| Amounts payable within one year | 42/48 | €251,847 | €219,195 | -€32,651 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €76,824 | €78,420 | +€1,595 | +2.1% |
| Financial debts | 43 | €25,000 | €2,735 | -€22,265 | -89.1% |
| Credit institutions | 430/8 | - | €2,735 | +€2,735 | |
| Other loans | 439 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €129,022 | €92,711 | -€36,311 | -28.1% |
| Suppliers | 440/4 | €129,022 | €92,711 | -€36,311 | -28.1% |
| Taxes, remuneration and social security | 45 | €21,000 | €45,330 | +€24,329 | +116% |
| Taxes | 450/3 | - | €24,836 | +€24,836 | |
| Remuneration and social security | 454/9 | €21,000 | €20,494 | -€507 | -2.4% |
| Remuneration, social security and pensions | 62 | €83,507 | €72,186 | -€11,321 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,212 | €87,965 | -€247 | -0.3% |
| Other operating charges | 640/8 | €1,577 | €9,402 | +€7,826 | +496% |
| Gross operating margin | 9900 | €234,442 | €219,833 | -€14,609 | -6.2% |
| Operating profit (loss) | 9901 | €61,146 | €50,279 | -€10,867 | -17.8% |
| Financial income | 75/76B | €117 | €63 | -€54 | -45.9% |
| Recurring financial income | 75 | €117 | €63 | -€54 | -45.9% |
| Financial charges | 65/66B | €20,384 | €17,808 | -€2,577 | -12.6% |
| Recurring financial charges | 65 | €20,384 | €17,808 | -€2,577 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €40,879 | €32,535 | -€8,344 | -20.4% |
| Income taxes | 67/77 | €36,867 | €45,970 | +€9,102 | +24.7% |
| Profit (loss) for the period | 9904 | €4,012 | -€13,435 | -€17,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,012 | -€13,435 | -€17,446 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.