TWINFI: what changed
Two fiscal 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.
TWINFI
Largest movements
- Cash -€51,772
down €51,772 (-45.6%), from €113,429 to €61,657
mainly Other debts (-€60,433) and Debts after one year (-€24,432)
- Intangible fixed assets -€12,500
down €12,500 (-11.1%), from €112,466 to €99,966
- Deferred charges and accrued income +€10,259
new in 2025: €10,259
- Tangible fixed assets -€7,504
down €7,504 (-42.5%), from €17,643 to €10,139
- Other debts -€60,433
down €60,433 (-60.2%), from €100,354 to €39,921
- Reserves +€25,000
new in 2025: €25,000
- Debts after one year -€24,432
down €24,432 (-22.3%), from €109,421 to €84,989
- Profit (loss) carried forward -€4,543
down €4,543 (-98.5%), from €4,610 to €67
- Gross operating margin +€21,484
up €21,484 (+60.7%), from €35,370 to €56,853
- Taxes +€4,051
up €4,051 (+96.7%), from €4,187 to €8,238
- Financial charges +€2,114
up €2,114 (+51.4%), from €4,116 to €6,230
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.
Cash bridge derived
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 | €245,351 | €182,020 | -€63,330 | -25.8% |
| Fixed assets | 21/28 | €130,109 | €110,105 | -€20,004 | -15.4% |
| Intangible fixed assets | 21 | €112,466 | €99,966 | -€12,500 | -11.1% |
| Tangible fixed assets | 22/27 | €17,643 | €10,139 | -€7,504 | -42.5% |
| Furniture and vehicles | 24 | €17,643 | €10,139 | -€7,504 | -42.5% |
| Current assets | 29/58 | €115,242 | €71,916 | -€43,326 | -37.6% |
| Amounts receivable within one year | 40/41 | €1,813 | €0 | -€1,813 | -100.0% |
| Other amounts receivable | 41 | €1,813 | €0 | -€1,813 | -100.0% |
| Cash at bank and in hand | 54/58 | €113,429 | €61,657 | -€51,772 | -45.6% |
| Deferred charges and accrued income | 490/1 | - | €10,259 | +€10,259 | |
| Total equity and liabilities | 10/49 | €245,351 | €182,020 | -€63,330 | -25.8% |
| Equity | 10/15 | €9,610 | €30,067 | +€20,457 | +212.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €25,000 | +€25,000 | |
| Distributable reserves | 133 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | €4,610 | €67 | -€4,543 | -98.5% |
| Amounts payable | 17/49 | €235,741 | €151,953 | -€83,788 | -35.5% |
| Amounts payable after more than one year | 17 | €109,421 | €84,989 | -€24,432 | -22.3% |
| Financial debts | 170/4 | €109,421 | €84,989 | -€24,432 | -22.3% |
| Amounts payable within one year | 42/48 | €125,668 | €66,565 | -€59,103 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €23,578 | €24,432 | +€854 | +3.6% |
| Trade debts | 44 | €1,735 | €1,363 | -€372 | -21.4% |
| Suppliers | 440/4 | €1,735 | €1,363 | -€372 | -21.4% |
| Taxes, remuneration and social security | 45 | - | €848 | +€848 | |
| Taxes | 450/3 | - | €848 | +€848 | |
| Other amounts payable | 47/48 | €100,354 | €39,921 | -€60,433 | -60.2% |
| Accrued charges and deferred income | 492/3 | €652 | €400 | -€252 | -38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,391 | €21,355 | -€36 | -0.2% |
| Other operating charges | 640/8 | €1,145 | €745 | -€400 | -35.0% |
| Gross operating margin | 9900 | €35,370 | €56,853 | +€21,484 | +60.7% |
| Operating profit (loss) | 9901 | €12,833 | €34,753 | +€21,920 | +170.8% |
| Financial income | 75/76B | €79 | €172 | +€93 | +116.9% |
| Recurring financial income | 75 | €79 | €172 | +€93 | +116.9% |
| Financial charges | 65/66B | €4,116 | €6,230 | +€2,114 | +51.4% |
| Recurring financial charges | 65 | €4,116 | €6,230 | +€2,114 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €8,797 | €28,695 | +€19,898 | +226.2% |
| Income taxes | 67/77 | €4,187 | €8,238 | +€4,051 | +96.7% |
| Profit (loss) for the period | 9904 | €4,610 | €20,457 | +€15,847 | +343.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,610 | €20,457 | +€15,847 | +343.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.