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 +€91,655
up €91,655 (+58.6%), from €156,528 to €248,183
mainly Net result for the year (+€87,538) and Depreciation (+€8,011)
- Deferred charges and accrued income -€6,838
down €6,838 (-78.4%), from €8,717 to €1,880
- Tangible fixed assets -€6,813
down €6,813 (-34.8%), from €19,573 to €12,760
- Reserves +€87,538
up €87,538 (+18.7%), from €466,906 to €554,444
- Trade debts -€13,707
down €13,707 (-70.7%), from €19,375 to €5,667
- Gross operating margin +€69,354
up €69,354 (+38.6%), from €179,719 to €249,073
- Taxes +€15,777
up €15,777 (+82.0%), from €19,250 to €35,027
- Staff costs +€12,584
up €12,584 (+12.0%), from €104,970 to €117,553
- Financial income -€3,081
down €3,081 (-60.5%), from €5,097 to €2,016
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 | €523,468 | €597,275 | +€73,806 | +14.1% |
| Fixed assets | 21/28 | €19,573 | €12,760 | -€6,813 | -34.8% |
| Tangible fixed assets | 22/27 | €19,573 | €12,760 | -€6,813 | -34.8% |
| Land and buildings | 22 | €1,369 | €0 | -€1,369 | -100% |
| Plant, machinery and equipment | 23 | €11,030 | €7,806 | -€3,224 | -29.2% |
| Furniture and vehicles | 24 | €7,175 | €4,954 | -€2,221 | -31.0% |
| Current assets | 29/58 | €503,895 | €584,515 | +€80,620 | +16.0% |
| Amounts receivable after more than one year | 29 | €295,233 | €295,233 | = | 0.0% |
| Other amounts receivable | 291 | €295,233 | €295,233 | = | 0.0% |
| Stocks and contracts in progress | 3 | €13,339 | €11,655 | -€1,684 | -12.6% |
| Stocks | 30/36 | €13,339 | €11,655 | -€1,684 | -12.6% |
| Amounts receivable within one year | 40/41 | €30,077 | €27,564 | -€2,513 | -8.4% |
| Trade receivables | 40 | €6,909 | €4,089 | -€2,820 | -40.8% |
| Other amounts receivable | 41 | €23,168 | €23,475 | +€306 | +1.3% |
| Cash at bank and in hand | 54/58 | €156,528 | €248,183 | +€91,655 | +58.6% |
| Deferred charges and accrued income | 490/1 | €8,717 | €1,880 | -€6,838 | -78.4% |
| Total equity and liabilities | 10/49 | €523,468 | €597,275 | +€73,806 | +14.1% |
| Equity | 10/15 | €473,106 | €560,644 | +€87,538 | +18.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €466,906 | €554,444 | +€87,538 | +18.7% |
| Distributable reserves | 133 | €466,906 | €554,444 | +€87,538 | +18.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,362 | €36,631 | -€13,731 | -27.3% |
| Amounts payable after more than one year | 17 | €5,651 | €2,703 | -€2,949 | -52.2% |
| Financial debts | 170/4 | €5,651 | €2,703 | -€2,949 | -52.2% |
| Amounts payable within one year | 42/48 | €44,711 | €33,928 | -€10,783 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €2,949 | €2,949 | = | 0.0% |
| Trade debts | 44 | €19,375 | €5,667 | -€13,707 | -70.7% |
| Suppliers | 440/4 | €19,375 | €5,667 | -€13,707 | -70.7% |
| Taxes, remuneration and social security | 45 | €21,543 | €24,468 | +€2,925 | +13.6% |
| Taxes | 450/3 | €12,300 | €12,223 | -€76 | -0.6% |
| Remuneration and social security | 454/9 | €9,244 | €12,244 | +€3,001 | +32.5% |
| Other amounts payable | 47/48 | €844 | €844 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €104,970 | €117,553 | +€12,584 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,282 | €8,011 | -€271 | -3.3% |
| Other operating charges | 640/8 | €1,708 | €1,634 | -€74 | -4.3% |
| Non-recurring operating charges | 66A | €1,160 | €0 | -€1,160 | -100% |
| Gross operating margin | 9900 | €179,719 | €249,073 | +€69,354 | +38.6% |
| Operating profit (loss) | 9901 | €63,599 | €121,875 | +€58,275 | +91.6% |
| Financial income | 75/76B | €5,097 | €2,016 | -€3,081 | -60.5% |
| Recurring financial income | 75 | €5,097 | €2,016 | -€3,081 | -60.5% |
| Financial charges | 65/66B | €61 | €1,325 | +€1,265 | +2,089% |
| Recurring financial charges | 65 | €61 | €1,325 | +€1,265 | +2,089% |
| Profit (loss) for the period before taxes | 9903 | €68,636 | €122,565 | +€53,929 | +78.6% |
| Income taxes | 67/77 | €19,250 | €35,027 | +€15,777 | +82.0% |
| Profit (loss) for the period | 9904 | €49,386 | €87,538 | +€38,152 | +77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,386 | €87,538 | +€38,152 | +77.3% |
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 17 October 2026 via checked.be.