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.
TWINS
Largest movements
- Stocks and contracts -€5,723
down €5,723 (-6.7%), from €85,442 to €79,718
- Tangible fixed assets -€2,693
down €2,693 (-14.8%), from €18,170 to €15,477
of which Other tangible fixed assets: -€1,983
- Deferred charges and accrued income +€1,997
new in 2025: €1,997
- Cash +€1,607
up €1,607 (+116.7%), from €1,377 to €2,984
mainly Net result for the year (+€15,928) and Stocks and contracts (+€5,723)
- Profit (loss) carried forward +€15,928
up €15,928 (+22.3%), from -€71,293 to -€55,365
- Trade debts -€15,694
down €15,694 (-67.4%), from €23,278 to €7,584
- Other debts -€4,736
down €4,736 (-5.0%), from €94,238 to €89,502
- Debts after one year -€4,107
down €4,107 (-39.9%), from €10,287 to €6,180
- Tax, wage and social debts +€4,003
up €4,003 (+89.0%), from €4,498 to €8,501
of which Taxes: +€4,003
- Gross operating margin +€4,370
up €4,370 (+24.6%), from €17,767 to €22,137
- Other operating charges -€844
down €844 (-62.7%), from €1,346 to €502
- Financial income +€405
up €405 (+3187.6%), from €13 to €417
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 | €112,512 | €108,231 | -€4,280 | -3.8% |
| Fixed assets | 21/28 | €24,020 | €21,327 | -€2,693 | -11.2% |
| Tangible fixed assets | 22/27 | €18,170 | €15,477 | -€2,693 | -14.8% |
| Plant, machinery and equipment | 23 | €1,266 | €555 | -€710 | -56.1% |
| Other tangible fixed assets | 26 | €16,904 | €14,922 | -€1,983 | -11.7% |
| Financial fixed assets | 28 | €5,850 | €5,850 | = | 0.0% |
| Current assets | 29/58 | €88,491 | €86,904 | -€1,587 | -1.8% |
| Stocks and contracts in progress | 3 | €85,442 | €79,718 | -€5,723 | -6.7% |
| Stocks | 30/36 | €85,442 | €79,718 | -€5,723 | -6.7% |
| Amounts receivable within one year | 40/41 | €1,673 | €2,205 | +€533 | +31.8% |
| Trade receivables | 40 | €1,125 | €1,648 | +€523 | +46.5% |
| Other amounts receivable | 41 | €548 | €557 | +€10 | +1.8% |
| Cash at bank and in hand | 54/58 | €1,377 | €2,984 | +€1,607 | +116.7% |
| Deferred charges and accrued income | 490/1 | - | €1,997 | +€1,997 | |
| Total equity and liabilities | 10/49 | €112,512 | €108,231 | -€4,280 | -3.8% |
| Equity | 10/15 | -€50,222 | -€34,294 | +€15,928 | +31.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,471 | €2,471 | = | 0.0% |
| Distributable reserves | 133 | €2,471 | €2,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,293 | -€55,365 | +€15,928 | +22.3% |
| Amounts payable | 17/49 | €162,734 | €142,525 | -€20,208 | -12.4% |
| Amounts payable after more than one year | 17 | €10,287 | €6,180 | -€4,107 | -39.9% |
| Financial debts | 170/4 | €10,287 | €6,180 | -€4,107 | -39.9% |
| Amounts payable within one year | 42/48 | €150,922 | €134,495 | -€16,427 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €3,908 | €4,107 | +€199 | +5.1% |
| Financial debts | 43 | €25,000 | €24,800 | -€200 | -0.8% |
| Credit institutions | 430/8 | €25,000 | €24,800 | -€200 | -0.8% |
| Trade debts | 44 | €23,278 | €7,584 | -€15,694 | -67.4% |
| Suppliers | 440/4 | €23,278 | €7,584 | -€15,694 | -67.4% |
| Taxes, remuneration and social security | 45 | €4,498 | €8,501 | +€4,003 | +89.0% |
| Taxes | 450/3 | €2,498 | €6,501 | +€4,003 | +160.3% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €94,238 | €89,502 | -€4,736 | -5.0% |
| Accrued charges and deferred income | 492/3 | €1,525 | €1,851 | +€326 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,693 | €2,693 | = | 0.0% |
| Other operating charges | 640/8 | €1,346 | €502 | -€844 | -62.7% |
| Gross operating margin | 9900 | €17,767 | €22,137 | +€4,370 | +24.6% |
| Operating profit (loss) | 9901 | €13,728 | €18,942 | +€5,214 | +38.0% |
| Financial income | 75/76B | €13 | €417 | +€405 | +3187.6% |
| Recurring financial income | 75 | €13 | €417 | +€405 | +3187.6% |
| Financial charges | 65/66B | €3,450 | €3,432 | -€19 | -0.5% |
| Recurring financial charges | 65 | €3,450 | €3,432 | -€19 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €10,290 | €15,928 | +€5,638 | +54.8% |
| Profit (loss) for the period | 9904 | €10,290 | €15,928 | +€5,638 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,290 | €15,928 | +€5,638 | +54.8% |
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 29 September 2026 via checked.be.