TWIN VENTURES: 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 VENTURES
Largest movements
- Receivables within one year +€52,060
up €52,060 (+43.1%), from €120,680 to €172,740
of which Other amounts receivable: +€56,439
- Tangible fixed assets -€19,119
down €19,119 (-7.5%), from €255,309 to €236,190
of which Land and buildings: -€12,825
- Cash -€17,362
down €17,362 (-88.4%), from €19,634 to €2,272
mainly Receivables within one year (-€52,060) and Debts after one year (-€19,796)
- Profit (loss) carried forward +€25,550
up €25,550 (+22.0%), from €116,354 to €141,904
- Debts after one year -€19,796
down €19,796 (-11.8%), from €168,190 to €148,394
- Tax, wage and social debts +€10,112
up €10,112 (+43.6%), from €23,212 to €33,324
of which Taxes: +€10,112
- Gross operating margin -€42,372
down €42,372 (-41.0%), from €103,242 to €60,870
- Taxes -€11,071
down €11,071 (-49.7%), from €22,283 to €11,213
- Depreciation +€6,399
up €6,399 (+30.5%), from €21,000 to €27,399
- Financial income +€2,660
up €2,660 (+47.8%), from €5,562 to €8,222
- Other operating charges -€2,276
down €2,276 (-81.1%), from €2,805 to €530
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 | €396,629 | €412,941 | +€16,312 | +4.1% |
| Fixed assets | 21/28 | €255,309 | €236,340 | -€18,969 | -7.4% |
| Tangible fixed assets | 22/27 | €255,309 | €236,190 | -€19,119 | -7.5% |
| Land and buildings | 22 | €195,225 | €182,400 | -€12,825 | -6.6% |
| Plant, machinery and equipment | 23 | €5,927 | €4,955 | -€972 | -16.4% |
| Furniture and vehicles | 24 | €48,757 | €38,287 | -€10,470 | -21.5% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €5,400 | €10,548 | +€5,148 | +95.3% |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €141,320 | €176,602 | +€35,282 | +25.0% |
| Amounts receivable within one year | 40/41 | €120,680 | €172,740 | +€52,060 | +43.1% |
| Trade receivables | 40 | €8,095 | €3,716 | -€4,379 | -54.1% |
| Other amounts receivable | 41 | €112,584 | €169,024 | +€56,439 | +50.1% |
| Cash at bank and in hand | 54/58 | €19,634 | €2,272 | -€17,362 | -88.4% |
| Deferred charges and accrued income | 490/1 | €1,006 | €1,590 | +€584 | +58.0% |
| Total equity and liabilities | 10/49 | €396,629 | €412,941 | +€16,312 | +4.1% |
| Equity | 10/15 | €163,849 | €189,399 | +€25,550 | +15.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €41,295 | €41,295 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,295 | €27,295 | = | 0.0% |
| Distributable reserves | 133 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,354 | €141,904 | +€25,550 | +22.0% |
| Provisions and deferred taxes | 16 | €7,000 | €7,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,000 | €7,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €7,000 | €7,000 | = | 0.0% |
| Amounts payable | 17/49 | €225,780 | €216,542 | -€9,238 | -4.1% |
| Amounts payable after more than one year | 17 | €168,190 | €148,394 | -€19,796 | -11.8% |
| Financial debts | 170/4 | €168,190 | €148,394 | -€19,796 | -11.8% |
| Amounts payable within one year | 42/48 | €57,590 | €66,506 | +€8,916 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €19,420 | €19,796 | +€376 | +1.9% |
| Financial debts | 43 | €0 | €2,111 | +€2,111 | |
| Credit institutions | 430/8 | €0 | €2,111 | +€2,111 | |
| Trade debts | 44 | €14,958 | €11,275 | -€3,683 | -24.6% |
| Suppliers | 440/4 | €14,958 | €11,275 | -€3,683 | -24.6% |
| Taxes, remuneration and social security | 45 | €23,212 | €33,324 | +€10,112 | +43.6% |
| Taxes | 450/3 | €23,212 | €33,324 | +€10,112 | +43.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €1,643 | +€1,643 | |
| Non-recurring operating income | 76A | €4,162 | €0 | -€4,162 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,000 | €27,399 | +€6,399 | +30.5% |
| Other operating charges | 640/8 | €2,805 | €530 | -€2,276 | -81.1% |
| Non-recurring operating charges | 66A | €8,728 | €0 | -€8,728 | -100% |
| Gross operating margin | 9900 | €103,242 | €60,870 | -€42,372 | -41.0% |
| Operating profit (loss) | 9901 | €70,709 | €32,941 | -€37,768 | -53.4% |
| Financial income | 75/76B | €5,562 | €8,222 | +€2,660 | +47.8% |
| Recurring financial income | 75 | €5,562 | €8,222 | +€2,660 | +47.8% |
| Financial charges | 65/66B | €3,166 | €4,400 | +€1,234 | +39.0% |
| Recurring financial charges | 65 | €3,166 | €4,400 | +€1,234 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €73,105 | €36,763 | -€36,342 | -49.7% |
| Income taxes | 67/77 | €22,283 | €11,213 | -€11,071 | -49.7% |
| Profit (loss) for the period | 9904 | €50,821 | €25,550 | -€25,271 | -49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,821 | €25,550 | -€25,271 | -49.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.