TWINNS: 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.
TWINNS
Largest movements
- Tangible fixed assets +€51,403
up €51,403 (+4,482%), from €1,147 to €52,550
of which Plant, machinery and equipment: +€52,550
- Current investments -€32,887
down €32,887 (-37.2%), from €88,355 to €55,467
- Cash +€23,023
up €23,023 (+180%), from €12,787 to €35,810
mainly Net result for the year (+€49,252) and Current investments (+€32,887)
- Reserves +€49,950
up €49,950 (+74.7%), from €66,896 to €116,847
- Trade debts -€17,182
down €17,182 (-96.0%), from €17,906 to €724
- Tax, wage and social debts +€9,749
up €9,749 (+50.4%), from €19,324 to €29,072
- Taxes +€5,830
up €5,830 (+37.4%), from €15,585 to €21,415
- Gross operating margin -€3,500
down €3,500 (-4.5%), from €77,589 to €74,089
- Depreciation +€1,522
up €1,522 (+109%), from €1,400 to €2,922
- Financial income -€1,079
down €1,079 (-55.1%), from €1,959 to €879
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 | €267,575 | €309,394 | +€41,819 | +15.6% |
| Fixed assets | 21/28 | €1,147 | €52,550 | +€51,403 | +4,482% |
| Tangible fixed assets | 22/27 | €1,147 | €52,550 | +€51,403 | +4,482% |
| Plant, machinery and equipment | 23 | - | €52,550 | +€52,550 | |
| Furniture and vehicles | 24 | €1,147 | - | -€1,147 | |
| Current assets | 29/58 | €266,429 | €256,844 | -€9,584 | -3.6% |
| Amounts receivable within one year | 40/41 | €165,288 | €165,567 | +€280 | +0.2% |
| Trade receivables | 40 | €95,288 | €105,567 | +€10,280 | +10.8% |
| Other amounts receivable | 41 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Current investments | 50/53 | €88,355 | €55,467 | -€32,887 | -37.2% |
| Cash at bank and in hand | 54/58 | €12,787 | €35,810 | +€23,023 | +180% |
| Total equity and liabilities | 10/49 | €267,575 | €309,394 | +€41,819 | +15.6% |
| Equity | 10/15 | €230,346 | €279,598 | +€49,252 | +21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,896 | €116,847 | +€49,950 | +74.7% |
| Distributable reserves | 133 | €66,896 | €116,847 | +€49,950 | +74.7% |
| Profit (loss) carried forward | 14 | €144,850 | €144,151 | -€698 | -0.5% |
| Amounts payable | 17/49 | €37,229 | €29,796 | -€7,433 | -20.0% |
| Amounts payable within one year | 42/48 | €37,229 | €29,796 | -€7,433 | -20.0% |
| Trade debts | 44 | €17,906 | €724 | -€17,182 | -96.0% |
| Suppliers | 440/4 | €17,906 | €724 | -€17,182 | -96.0% |
| Taxes, remuneration and social security | 45 | €19,324 | €29,072 | +€9,749 | +50.4% |
| Taxes | 450/3 | €19,324 | €29,072 | +€9,749 | +50.4% |
| Non-recurring operating income | 76A | - | €15,028 | +€15,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,400 | €2,922 | +€1,522 | +109% |
| Other operating charges | 640/8 | €1,294 | €1,155 | -€139 | -10.8% |
| Gross operating margin | 9900 | €77,589 | €74,089 | -€3,500 | -4.5% |
| Operating profit (loss) | 9901 | €74,895 | €70,012 | -€4,883 | -6.5% |
| Financial income | 75/76B | €1,959 | €879 | -€1,079 | -55.1% |
| Recurring financial income | 75 | €1,959 | €879 | -€1,079 | -55.1% |
| Financial charges | 65/66B | €311 | €224 | -€86 | -27.8% |
| Recurring financial charges | 65 | €311 | €224 | -€86 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €76,543 | €70,667 | -€5,876 | -7.7% |
| Income taxes | 67/77 | €15,585 | €21,415 | +€5,830 | +37.4% |
| Profit (loss) for the period | 9904 | €60,958 | €49,252 | -€11,706 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,958 | €49,252 | -€11,706 | -19.2% |
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 18 October 2026 via checked.be.