TWINS: 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.
TWINS
Largest movements
- Cash -€255,154
down €255,154 (-96.2%), from €265,364 to €10,210
mainly Contributions, distributions and other (-€480,859) and Current investments (-€221,569)
- Current investments +€221,569
up €221,569 (+16.4%), from €1.4m to €1.6m
- Receivables within one year +€103,707
up €103,707 (+400.6%), from €25,887 to €129,593
of which Other amounts receivable: +€119,963
- Other debts +€350,199
up €350,199 (+119.3%), from €293,474 to €643,673
- Reserves -€248,361
down €248,361 (-13.7%), from €1.8m to €1.6m
- Debts after one year -€40,000
down €40,000 (-40.0%), from €100,000 to €60,000
- Financial income +€56,916
up €56,916 (+45.1%), from €126,145 to €183,061
- Gross operating margin -€33,543
down €33,543 (-20.1%), from €166,630 to €133,086
- Depreciation -€12,749
down €12,749 (-95.0%), from €13,421 to €673
- Other operating charges -€4,021
down €4,021 (-30.5%), from €13,175 to €9,154
- Taxes +€3,658
up €3,658 (+7.4%), from €49,248 to €52,906
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 | €2,322,407 | €2,390,877 | +€68,469 | +2.9% |
| Fixed assets | 21/28 | €676,442 | €675,186 | -€1,256 | -0.2% |
| Tangible fixed assets | 22/27 | €2,291 | €1,035 | -€1,256 | -54.8% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,291 | €1,035 | -€1,256 | -54.8% |
| Financial fixed assets | 28 | €674,151 | €674,151 | = | 0.0% |
| Current assets | 29/58 | €1,645,965 | €1,715,691 | +€69,726 | +4.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €25,887 | €129,593 | +€103,707 | +400.6% |
| Trade receivables | 40 | €25,850 | €9,593 | -€16,257 | -62.9% |
| Other amounts receivable | 41 | €37 | €120,000 | +€119,963 | +327768.9% |
| Current investments | 50/53 | €1,351,422 | €1,572,991 | +€221,569 | +16.4% |
| Cash at bank and in hand | 54/58 | €265,364 | €10,210 | -€255,154 | -96.2% |
| Deferred charges and accrued income | 490/1 | €3,293 | €2,897 | -€396 | -12.0% |
| Total equity and liabilities | 10/49 | €2,322,407 | €2,390,877 | +€68,469 | +2.9% |
| Equity | 10/15 | €1,869,594 | €1,620,374 | -€249,220 | -13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,811,211 | €1,562,851 | -€248,361 | -13.7% |
| Distributable reserves | 133 | €1,811,211 | €1,562,851 | -€248,361 | -13.7% |
| Profit (loss) carried forward | 14 | €39,783 | €38,924 | -€859 | -2.2% |
| Amounts payable | 17/49 | €452,813 | €770,502 | +€317,689 | +70.2% |
| Amounts payable after more than one year | 17 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Financial debts | 170/4 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Amounts payable within one year | 42/48 | €352,813 | €696,992 | +€344,178 | +97.6% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €8,120 | €2,701 | -€5,419 | -66.7% |
| Suppliers | 440/4 | €8,120 | €2,701 | -€5,419 | -66.7% |
| Taxes, remuneration and social security | 45 | €11,219 | €10,618 | -€602 | -5.4% |
| Taxes | 450/3 | €11,219 | €10,618 | -€602 | -5.4% |
| Other amounts payable | 47/48 | €293,474 | €643,673 | +€350,199 | +119.3% |
| Accrued charges and deferred income | 492/3 | €0 | €13,510 | +€13,510 | |
| Non-recurring operating income | 76A | €18,000 | €0 | -€18,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,421 | €673 | -€12,749 | -95.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,197 | €0 | -€2,197 | -100.0% |
| Other operating charges | 640/8 | €13,175 | €9,154 | -€4,021 | -30.5% |
| Non-recurring operating charges | 66A | €3,609 | €1,804 | -€1,805 | -50.0% |
| Gross operating margin | 9900 | €166,630 | €133,086 | -€33,543 | -20.1% |
| Operating profit (loss) | 9901 | €134,227 | €121,457 | -€12,771 | -9.5% |
| Financial income | 75/76B | €126,145 | €183,061 | +€56,916 | +45.1% |
| Recurring financial income | 75 | €126,145 | €183,061 | +€56,916 | +45.1% |
| Financial charges | 65/66B | €22,069 | €19,972 | -€2,097 | -9.5% |
| Recurring financial charges | 65 | €22,069 | €19,972 | -€2,097 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €238,303 | €284,545 | +€46,242 | +19.4% |
| Income taxes | 67/77 | €49,248 | €52,906 | +€3,658 | +7.4% |
| Profit (loss) for the period | 9904 | €189,056 | €231,640 | +€42,584 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €189,056 | €231,640 | +€42,584 | +22.5% |
Source: filed annual accounts (NBB), financial years ended 1 April 2024 and 1 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.