TWINS: 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.
What changed
TWINS
NACE 56.112, Limited-service restaurants, excluding mobile food services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€130,918
2024 · €205,987-€75,070
Equity
€1.6m
2024 · €1.5m+€127,586
Cash
€283,854
2024 · €313,018-€29,164
Balance sheet total
€3.1m
2024 · €3.1m-€41,463
Largest movements
Assets
- Tangible fixed assets -€75,494
down €75,494 (-2.8%), from €2.7m to €2.6m
of which Land and buildings: -€94,682
- Receivables within one year +€66,625
up €66,625 (+232.1%), from €28,705 to €95,330
of which Other amounts receivable: +€65,817
Equity and liabilities
- Reserves +€127,586
up €127,586 (+9.2%), from €1.4m to €1.5m
of which Distributable reserves: +€137,399
- Debts after one year -€96,636
down €96,636 (-9.9%), from €973,942 to €877,306
- Other debts -€57,687
down €57,687 (-28.4%), from €203,335 to €145,649
Income statement
- Gross operating margin -€89,551
down €89,551 (-13.4%), from €666,170 to €576,619
- Staff costs +€21,859
up €21,859 (+13.5%), from €161,590 to €183,449
- Taxes -€21,058
down €21,058 (-23.6%), from €89,163 to €68,105
- Other operating charges -€14,765
down €14,765 (-37.0%), from €39,930 to €25,166
- Financial charges -€10,648
down €10,648 (-16.1%), from €66,111 to €55,463
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.
Result 2024
€205,987
Gross operating margin
-€89,551
Staff costs
-€21,859
Depreciation
-€10,178
Other operating charges
+€14,765
Other operating items
-€234
Financial income
+€282
Financial charges
+€10,648
Taxes
+€21,058
Result 2025
€130,918
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.
From operations
+€105,965
Investment
-€41,439
Financing
-€93,691
Cash 2024
€313,018
From operations (derived)
+€105,965
Net result for the year
+€130,918
Depreciation
+€116,932
Stocks and contracts
-€1,608
Receivables within one year
-€66,625
Deferred charges and accrued income
+€5,038
Provisions
-€3,271
Trade debts
-€14,059
Tax, wage and social debts
+€2,659
Other debts
-€57,687
Accrued charges and deferred income
-€6,333
Investment (derived)
-€41,439
Investment in fixed assets (net)
-€41,439
Financing
-€93,691
Debts after one year
-€96,636
Current portion of long-term debt
+€6,277
Contributions, distributions and other
-€3,332
Cash 2025
€283,854
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,122,159 | €3,080,695 | -€41,463 | -1.3% |
| Fixed assets | 21/28 | €2,686,274 | €2,610,780 | -€75,494 | -2.8% |
| Tangible fixed assets | 22/27 | €2,681,316 | €2,605,822 | -€75,494 | -2.8% |
| Land and buildings | 22 | €2,624,212 | €2,529,530 | -€94,682 | -3.6% |
| Plant, machinery and equipment | 23 | €46,562 | €49,752 | +€3,190 | +6.9% |
| Furniture and vehicles | 24 | €10,541 | €8,464 | -€2,077 | -19.7% |
| Assets under construction and advance payments | 27 | €0 | €18,075 | +€18,075 | |
| Financial fixed assets | 28 | €4,958 | €4,958 | = | 0.0% |
| Current assets | 29/58 | €435,885 | €469,916 | +€34,031 | +7.8% |
| Stocks and contracts in progress | 3 | €6,845 | €8,453 | +€1,608 | +23.5% |
| Stocks | 30/36 | €6,845 | €8,453 | +€1,608 | +23.5% |
| Amounts receivable within one year | 40/41 | €28,705 | €95,330 | +€66,625 | +232.1% |
| Trade receivables | 40 | €6,341 | €7,148 | +€807 | +12.7% |
| Other amounts receivable | 41 | €22,364 | €88,182 | +€65,817 | +294.3% |
| Current investments | 50/53 | €81,369 | €81,369 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €313,018 | €283,854 | -€29,164 | -9.3% |
| Deferred charges and accrued income | 490/1 | €5,948 | €909 | -€5,038 | -84.7% |
| Total equity and liabilities | 10/49 | €3,122,159 | €3,080,695 | -€41,463 | -1.3% |
| Equity | 10/15 | €1,486,108 | €1,613,693 | +€127,586 | +8.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,386,108 | €1,513,693 | +€127,586 | +9.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €187,300 | €177,487 | -€9,813 | -5.2% |
| Distributable reserves | 133 | €1,188,808 | €1,326,207 | +€137,399 | +11.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €120,253 | €116,982 | -€3,271 | -2.7% |
| Provisions for liabilities and charges | 160/5 | €57,500 | €57,500 | = | 0.0% |
| Pensions and similar obligations | 160 | €47,500 | €47,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,000 | €10,000 | = | 0.0% |
| Deferred taxes | 168 | €62,753 | €59,482 | -€3,271 | -5.2% |
| Amounts payable | 17/49 | €1,515,798 | €1,350,020 | -€165,778 | -10.9% |
| Amounts payable after more than one year | 17 | €973,942 | €877,306 | -€96,636 | -9.9% |
| Financial debts | 170/4 | €973,942 | €877,306 | -€96,636 | -9.9% |
| Amounts payable within one year | 42/48 | €528,995 | €466,185 | -€62,809 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €199,187 | €205,464 | +€6,277 | +3.2% |
| Trade debts | 44 | €88,428 | €74,370 | -€14,059 | -15.9% |
| Suppliers | 440/4 | €88,428 | €74,370 | -€14,059 | -15.9% |
| Taxes, remuneration and social security | 45 | €38,044 | €40,703 | +€2,659 | +7.0% |
| Taxes | 450/3 | €27,406 | €28,747 | +€1,342 | +4.9% |
| Remuneration and social security | 454/9 | €10,639 | €11,955 | +€1,317 | +12.4% |
| Other amounts payable | 47/48 | €203,335 | €145,649 | -€57,687 | -28.4% |
| Accrued charges and deferred income | 492/3 | €12,861 | €6,529 | -€6,333 | -49.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €161,590 | €183,449 | +€21,859 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,754 | €116,932 | +€10,178 | +9.5% |
| Other operating charges | 640/8 | €39,930 | €25,166 | -€14,765 | -37.0% |
| Non-recurring operating charges | 66A | - | €234 | +€234 | |
| Gross operating margin | 9900 | €666,170 | €576,619 | -€89,551 | -13.4% |
| Operating profit (loss) | 9901 | €357,896 | €250,839 | -€107,057 | -29.9% |
| Financial income | 75/76B | €95 | €377 | +€282 | +296.8% |
| Recurring financial income | 75 | €95 | €377 | +€282 | +296.8% |
| Financial charges | 65/66B | €66,111 | €55,463 | -€10,648 | -16.1% |
| Recurring financial charges | 65 | €66,111 | €55,463 | -€10,648 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €291,880 | €195,752 | -€96,127 | -32.9% |
| Transfer from deferred taxes | 780 | €3,271 | €3,271 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €89,163 | €68,105 | -€21,058 | -23.6% |
| Profit (loss) for the period | 9904 | €205,987 | €130,918 | -€75,070 | -36.4% |
| Transfer from tax-exempt reserves | 789 | €9,813 | €9,813 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €215,800 | €140,731 | -€75,070 | -34.8% |
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.