TWINBO: 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.
TWINBO
Largest movements
- Cash -€82,422
down €82,422 (-54.6%), from €151,024 to €68,603
mainly Stocks and contracts (-€41,427) and Other debts (-€38,962)
- Tangible fixed assets -€51,223
down €51,223 (-17.9%), from €285,742 to €234,520
- Stocks and contracts +€41,427
up €41,427 (+103%), from €40,065 to €81,492
of which Contracts in progress: +€37,177
- Other debts -€38,962
down €38,962 (-42.4%), from €91,835 to €52,873
- Debts after one year -€35,816
down €35,816 (-19.7%), from €181,663 to €145,847
- Accrued charges and deferred income -€22,580
down €22,580 (-99.6%), from €22,680 to €100
- Trade debts +€8,355
up €8,355 (+460%), from €1,815 to €10,170
- Reserves -€5,366
down €5,366 (-4.8%), from €112,240 to €106,873
of which Distributable reserves: -€5,366
- Gross operating margin -€56,917
down €56,917 (-47.6%), from €119,667 to €62,750
- Financial charges -€54,227
down €54,227 (-89.8%), from €60,398 to €6,171
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 | €511,475 | €415,785 | -€95,690 | -18.7% |
| Fixed assets | 21/28 | €285,742 | €234,520 | -€51,223 | -17.9% |
| Tangible fixed assets | 22/27 | €285,742 | €234,520 | -€51,223 | -17.9% |
| Land and buildings | 22 | €172,242 | €158,858 | -€13,384 | -7.8% |
| Plant, machinery and equipment | 23 | €63,328 | €39,876 | -€23,452 | -37.0% |
| Furniture and vehicles | 24 | €50,172 | €35,786 | -€14,386 | -28.7% |
| Current assets | 29/58 | €225,733 | €181,266 | -€44,468 | -19.7% |
| Stocks and contracts in progress | 3 | €40,065 | €81,492 | +€41,427 | +103% |
| Stocks | 30/36 | €15,000 | €19,250 | +€4,250 | +28.3% |
| Contracts in progress | 37 | €25,065 | €62,242 | +€37,177 | +148% |
| Amounts receivable within one year | 40/41 | €29,715 | €29,223 | -€493 | -1.7% |
| Trade receivables | 40 | €20,591 | €10,526 | -€10,065 | -48.9% |
| Other amounts receivable | 41 | €9,125 | €18,697 | +€9,572 | +105% |
| Cash at bank and in hand | 54/58 | €151,024 | €68,603 | -€82,422 | -54.6% |
| Deferred charges and accrued income | 490/1 | €4,928 | €1,948 | -€2,980 | -60.5% |
| Total equity and liabilities | 10/49 | €511,475 | €415,785 | -€95,690 | -18.7% |
| Equity | 10/15 | €173,740 | €168,373 | -€5,366 | -3.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €112,240 | €106,873 | -€5,366 | -4.8% |
| Non-distributable reserves | 130/1 | €5,708 | €5,708 | = | 0.0% |
| Legal reserve | 130 | €5,708 | €5,708 | = | 0.0% |
| Distributable reserves | 133 | €106,531 | €101,165 | -€5,366 | -5.0% |
| Amounts payable | 17/49 | €337,736 | €247,412 | -€90,324 | -26.7% |
| Amounts payable after more than one year | 17 | €181,663 | €145,847 | -€35,816 | -19.7% |
| Financial debts | 170/4 | €181,663 | €145,847 | -€35,816 | -19.7% |
| Amounts payable within one year | 42/48 | €133,392 | €101,465 | -€31,927 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €39,266 | €38,316 | -€950 | -2.4% |
| Trade debts | 44 | €1,815 | €10,170 | +€8,355 | +460% |
| Suppliers | 440/4 | €1,815 | €10,170 | +€8,355 | +460% |
| Advances received on contracts in progress | 46 | €224 | - | -€224 | |
| Taxes, remuneration and social security | 45 | €252 | €105 | -€147 | -58.3% |
| Taxes | 450/3 | €252 | €105 | -€147 | -58.3% |
| Other amounts payable | 47/48 | €91,835 | €52,873 | -€38,962 | -42.4% |
| Accrued charges and deferred income | 492/3 | €22,680 | €100 | -€22,580 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,282 | €51,223 | +€941 | +1.9% |
| Other operating charges | 640/8 | €1,360 | €1,327 | -€33 | -2.4% |
| Gross operating margin | 9900 | €119,667 | €62,750 | -€56,917 | -47.6% |
| Operating profit (loss) | 9901 | €68,025 | €10,201 | -€57,825 | -85.0% |
| Financial income | 75/76B | €185 | €16 | -€170 | -91.6% |
| Recurring financial income | 75 | €185 | €16 | -€170 | -91.6% |
| Financial charges | 65/66B | €60,398 | €6,171 | -€54,227 | -89.8% |
| Recurring financial charges | 65 | €60,398 | €6,171 | -€54,227 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €7,813 | €4,046 | -€3,768 | -48.2% |
| Income taxes | 67/77 | €2,105 | €912 | -€1,193 | -56.7% |
| Profit (loss) for the period | 9904 | €5,708 | €3,134 | -€2,575 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,708 | €3,134 | -€2,575 | -45.1% |
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 24 October 2026 via checked.be.