TWIN4U: 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.
TWIN4U
Largest movements
- Tangible fixed assets -€15,724
down €15,724 (-4.2%), from €373,642 to €357,918
of which Plant, machinery and equipment: -€33,060
- Current investments -€12,930
down €12,930 (-12.3%), from €105,098 to €92,168
- Receivables within one year -€8,019
down €8,019 (-50.3%), from €15,949 to €7,930
of which Trade receivables: -€8,347
- Reserves -€17,743
down €17,743 (-9.7%), from €182,243 to €164,500
- Current portion of long-term debt +€11,886
up €11,886 (+19.8%), from €60,128 to €72,014
- Short-term financial debts -€11,517
down €11,517 (-92.6%), from €12,434 to €917
of which Other loans: -€10,857
- Tax, wage and social debts -€6,731
down €6,731 (-25.5%), from €26,382 to €19,651
- Other debts -€5,278
no longer reported in 2025 (was €5,278)
- Depreciation +€18,886
up €18,886 (+22.7%), from €83,294 to €102,180
- Gross operating margin +€8,927
up €8,927 (+5.7%), from €157,765 to €166,692
- Financial charges +€6,965
up €6,965 (+70.5%), from €9,884 to €16,849
- Taxes -€3,869
down €3,869 (-21.6%), from €17,926 to €14,057
- Financial income +€3,748
up €3,748 (+451%), from €831 to €4,579
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 | €501,300 | €467,564 | -€33,736 | -6.7% |
| Fixed assets | 21/28 | €373,796 | €357,933 | -€15,863 | -4.2% |
| Intangible fixed assets | 21 | €139 | €0 | -€139 | -100% |
| Tangible fixed assets | 22/27 | €373,642 | €357,918 | -€15,724 | -4.2% |
| Land and buildings | 22 | €76,577 | €70,751 | -€5,826 | -7.6% |
| Plant, machinery and equipment | 23 | €108,742 | €75,682 | -€33,060 | -30.4% |
| Furniture and vehicles | 24 | €6,509 | €3,379 | -€3,130 | -48.1% |
| Leasing and similar rights | 25 | €181,814 | €208,106 | +€26,292 | +14.5% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €127,504 | €109,631 | -€17,873 | -14.0% |
| Amounts receivable within one year | 40/41 | €15,949 | €7,930 | -€8,019 | -50.3% |
| Trade receivables | 40 | €14,916 | €6,569 | -€8,347 | -56.0% |
| Other amounts receivable | 41 | €1,033 | €1,361 | +€328 | +31.8% |
| Current investments | 50/53 | €105,098 | €92,168 | -€12,930 | -12.3% |
| Cash at bank and in hand | 54/58 | €2,509 | €5,474 | +€2,965 | +118% |
| Deferred charges and accrued income | 490/1 | €3,948 | €4,059 | +€111 | +2.8% |
| Total equity and liabilities | 10/49 | €501,300 | €467,564 | -€33,736 | -6.7% |
| Equity | 10/15 | €202,847 | €185,184 | -€17,663 | -8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €182,243 | €164,500 | -€17,743 | -9.7% |
| Distributable reserves | 133 | €182,243 | €164,500 | -€17,743 | -9.7% |
| Profit (loss) carried forward | 14 | €2,004 | €2,084 | +€80 | +4.0% |
| Amounts payable | 17/49 | €298,453 | €282,380 | -€16,073 | -5.4% |
| Amounts payable after more than one year | 17 | €187,454 | €183,578 | -€3,876 | -2.1% |
| Financial debts | 170/4 | €187,454 | €183,578 | -€3,876 | -2.1% |
| Amounts payable within one year | 42/48 | €110,999 | €98,802 | -€12,197 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €60,128 | €72,014 | +€11,886 | +19.8% |
| Financial debts | 43 | €12,434 | €917 | -€11,517 | -92.6% |
| Credit institutions | 430/8 | €1,577 | €917 | -€660 | -41.9% |
| Other loans | 439 | €10,857 | - | -€10,857 | |
| Trade debts | 44 | €6,777 | €6,220 | -€557 | -8.2% |
| Suppliers | 440/4 | €6,777 | €6,220 | -€557 | -8.2% |
| Taxes, remuneration and social security | 45 | €26,382 | €19,651 | -€6,731 | -25.5% |
| Taxes | 450/3 | €26,382 | €19,651 | -€6,731 | -25.5% |
| Other amounts payable | 47/48 | €5,278 | - | -€5,278 | |
| Non-recurring operating income | 76A | €20,936 | €3,323 | -€17,613 | -84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,294 | €102,180 | +€18,886 | +22.7% |
| Other operating charges | 640/8 | €4,585 | €4,306 | -€279 | -6.1% |
| Gross operating margin | 9900 | €157,765 | €166,692 | +€8,927 | +5.7% |
| Operating profit (loss) | 9901 | €69,886 | €60,206 | -€9,680 | -13.9% |
| Financial income | 75/76B | €831 | €4,579 | +€3,748 | +451% |
| Recurring financial income | 75 | €831 | €4,579 | +€3,748 | +451% |
| Financial charges | 65/66B | €9,884 | €16,849 | +€6,965 | +70.5% |
| Recurring financial charges | 65 | €9,884 | €16,849 | +€6,965 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €60,833 | €47,936 | -€12,897 | -21.2% |
| Income taxes | 67/77 | €17,926 | €14,057 | -€3,869 | -21.6% |
| Profit (loss) for the period | 9904 | €42,907 | €33,879 | -€9,028 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,907 | €33,879 | -€9,028 | -21.0% |
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 19 October 2026 via checked.be.