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
- Cash -€32,992
down €32,992 (-9.9%), from €332,746 to €299,754
mainly Net result for the year (-€34,340) and Trade debts (-€13,143)
- Intangible fixed assets -€13,834
no longer reported in 2025 (was €13,834)
- Receivables within one year -€6,495
down €6,495 (-33.1%), from €19,640 to €13,145
of which Trade receivables: -€13,831
- Profit (loss) carried forward -€34,340
down €34,340 (-82.2%), from -€41,772 to -€76,112
- Trade debts -€13,143
no longer reported in 2025 (was €13,143)
- Tax, wage and social debts -€6,681
no longer reported in 2025 (was €6,681)
- Gross operating margin -€36,430
down €36,430, from €24,351 to -€12,078
- Taxes -€2,174
down €2,174 (-82.1%), from €2,647 to €473
- Depreciation -€2,121
down €2,121 (-9.5%), from €22,349 to €20,228
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 | €382,629 | €328,464 | -€54,165 | -14.2% |
| Fixed assets | 21/28 | €26,210 | €10,032 | -€16,178 | -61.7% |
| Intangible fixed assets | 21 | €13,834 | - | -€13,834 | |
| Tangible fixed assets | 22/27 | €12,325 | €9,982 | -€2,343 | -19.0% |
| Furniture and vehicles | 24 | €9,913 | €8,310 | -€1,603 | -16.2% |
| Other tangible fixed assets | 26 | €2,412 | €1,672 | -€740 | -30.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €356,419 | €318,432 | -€37,987 | -10.7% |
| Amounts receivable within one year | 40/41 | €19,640 | €13,145 | -€6,495 | -33.1% |
| Trade receivables | 40 | €13,929 | €98 | -€13,831 | -99.3% |
| Other amounts receivable | 41 | €5,711 | €13,047 | +€7,336 | +128.5% |
| Cash at bank and in hand | 54/58 | €332,746 | €299,754 | -€32,992 | -9.9% |
| Deferred charges and accrued income | 490/1 | €4,033 | €5,534 | +€1,501 | +37.2% |
| Total equity and liabilities | 10/49 | €382,629 | €328,464 | -€54,165 | -14.2% |
| Equity | 10/15 | €31,288 | -€3,052 | -€34,340 | |
| Contributions | 10/11 | €19,017 | €19,017 | = | 0.0% |
| Reserves | 13 | €54,043 | €54,043 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,902 | €1,902 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,902 | €1,902 | = | 0.0% |
| Distributable reserves | 133 | €52,141 | €52,141 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,772 | -€76,112 | -€34,340 | -82.2% |
| Provisions and deferred taxes | 16 | €331,516 | €331,516 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €331,516 | €331,516 | = | 0.0% |
| Pensions and similar obligations | 160 | €331,516 | €331,516 | = | 0.0% |
| Amounts payable | 17/49 | €19,824 | - | -€19,824 | |
| Amounts payable within one year | 42/48 | €19,824 | - | -€19,824 | |
| Trade debts | 44 | €13,143 | - | -€13,143 | |
| Suppliers | 440/4 | €13,143 | - | -€13,143 | |
| Taxes, remuneration and social security | 45 | €6,681 | - | -€6,681 | |
| Taxes | 450/3 | €6,681 | - | -€6,681 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,349 | €20,228 | -€2,121 | -9.5% |
| Other operating charges | 640/8 | €1,242 | €1,486 | +€243 | +19.6% |
| Gross operating margin | 9900 | €24,351 | -€12,078 | -€36,430 | |
| Operating profit (loss) | 9901 | €760 | -€33,792 | -€34,552 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €122 | €75 | -€46 | -38.0% |
| Recurring financial charges | 65 | €122 | €75 | -€46 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €645 | -€33,867 | -€34,512 | |
| Income taxes | 67/77 | €2,647 | €473 | -€2,174 | -82.1% |
| Profit (loss) for the period | 9904 | -€2,003 | -€34,340 | -€32,338 | -1614.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,003 | -€34,340 | -€32,338 | -1614.8% |
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 2 October 2026 via checked.be.