TWINS HOLDING: 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.
What changed
TWINS HOLDING
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€219,584
2024 · €4.4m-€4.2m
Equity
€12.2m
2024 · €12.2m+€19,584
Cash
€307,900
2024 · €194,839+€113,062
Balance sheet total
€18.7m
2024 · €19.4m-€703,663
Largest movements
Assets
- Current investments -€4.6m
down €4.6m (-58.3%), from €7.8m to €3.3m
- Tangible fixed assets +€3.9m
up €3.9m (+37.7%), from €10.3m to €14.3m
of which Land and buildings: +€3.9m
Equity and liabilities
- Other debts -€371,000
down €371,000 (-61.0%), from €608,000 to €237,000
- Debts after one year -€294,691
down €294,691 (-7.2%), from €4.1m to €3.8m
of which Financial debts: -€294,691
Income statement
- Gross operating margin -€5.7m
down €5.7m (-86.7%), from €6.6m to €878,423
- Other operating charges -€181,693
down €181,693 (-54.7%), from €332,221 to €150,528
- Depreciation +€115,495
up €115,495 (+42.6%), from €270,971 to €386,466
- Taxes -€82,404
down €82,404 (-47.2%), from €174,687 to €92,283
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
€4.4m
Gross operating margin
-€5.7m
Depreciation
-€115,495
Other operating charges
+€181,693
Financial income
+€43,290
Financial charges
+€6,937
Taxes
+€82,404
Deferred taxes and other
+€1.4m
Result 2025
€219,584
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€343,328
Investment
+€258,225
Financing
-€488,492
Cash 2024
€194,839
From operations (derived)
+€343,328
Net result for the year
+€219,584
Depreciation
+€386,466
Receivables after one year
+€125,000
Receivables within one year
+€43,961
Smaller working-capital items
+€1,670
Provisions
-€29,140
Tax, wage and social debts
-€24,760
Advances received
-€120,059
Other debts
-€371,000
Accrued charges and deferred income
+€111,607
Investment (derived)
+€258,225
Investment in fixed assets (net)
-€4.3m
Current investments
+€4.6m
Financing
-€488,492
Debts after one year
-€294,691
Current portion of long-term debt
+€7,804
Short-term financial debts
-€1,605
Contributions, distributions and other
-€200,000
Cash 2025
€307,900
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,359,678 | €18,656,015 | -€703,663 | -3.6% |
| Fixed assets | 21/28 | €10,346,211 | €14,251,520 | +€3.9m | +37.7% |
| Tangible fixed assets | 22/27 | €10,345,715 | €14,251,024 | +€3.9m | +37.7% |
| Land and buildings | 22 | €10,211,226 | €14,146,644 | +€3.9m | +38.5% |
| Furniture and vehicles | 24 | €134,490 | €104,381 | -€30,109 | -22.4% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €9,013,467 | €4,404,495 | -€4.6m | -51.1% |
| Amounts receivable after more than one year | 29 | €125,000 | €0 | -€125,000 | -100% |
| Other amounts receivable | 291 | €125,000 | €0 | -€125,000 | -100% |
| Amounts receivable within one year | 40/41 | €855,000 | €811,039 | -€43,961 | -5.1% |
| Trade receivables | 40 | €0 | €39,083 | +€39,083 | |
| Other amounts receivable | 41 | €855,000 | €771,956 | -€83,044 | -9.7% |
| Current investments | 50/53 | €7,800,000 | €3,250,000 | -€4.6m | -58.3% |
| Cash at bank and in hand | 54/58 | €194,839 | €307,900 | +€113,062 | +58.0% |
| Deferred charges and accrued income | 490/1 | €38,628 | €35,555 | -€3,073 | -8.0% |
| Total equity and liabilities | 10/49 | €19,359,678 | €18,656,015 | -€703,663 | -3.6% |
| Equity | 10/15 | €12,162,782 | €12,182,367 | +€19,584 | +0.2% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €5,604,432 | €5,521,965 | -€82,467 | -1.5% |
| Tax-exempt reserves | 132 | €5,399,615 | €5,317,148 | -€82,467 | -1.5% |
| Distributable reserves | 133 | €204,817 | €204,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,558,350 | €1,660,402 | +€102,052 | +6.5% |
| Provisions and deferred taxes | 16 | €1,897,765 | €1,868,626 | -€29,140 | -1.5% |
| Provisions for liabilities and charges | 160/5 | €56,108 | €56,108 | = | 0.0% |
| Major repairs and maintenance | 162 | €56,108 | €56,108 | = | 0.0% |
| Deferred taxes | 168 | €1,841,657 | €1,812,518 | -€29,140 | -1.6% |
| Amounts payable | 17/49 | €5,299,131 | €4,605,023 | -€694,108 | -13.1% |
| Amounts payable after more than one year | 17 | €4,089,020 | €3,794,329 | -€294,691 | -7.2% |
| Financial debts | 170/4 | €2,327,020 | €2,032,329 | -€294,691 | -12.7% |
| Other amounts payable | 178/9 | €1,762,000 | €1,762,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,126,019 | €614,995 | -€511,024 | -45.4% |
| Current portion of amounts payable after more than one year | 42 | €286,887 | €294,691 | +€7,804 | +2.7% |
| Financial debts | 43 | €1,605 | €0 | -€1,605 | -100% |
| Credit institutions | 430/8 | €1,605 | €0 | -€1,605 | -100% |
| Trade debts | 44 | €70,511 | €69,107 | -€1,404 | -2.0% |
| Suppliers | 440/4 | €70,511 | €69,107 | -€1,404 | -2.0% |
| Advances received on contracts in progress | 46 | €120,059 | €0 | -€120,059 | -100% |
| Taxes, remuneration and social security | 45 | €38,957 | €14,197 | -€24,760 | -63.6% |
| Taxes | 450/3 | €38,957 | €14,197 | -€24,760 | -63.6% |
| Other amounts payable | 47/48 | €608,000 | €237,000 | -€371,000 | -61.0% |
| Accrued charges and deferred income | 492/3 | €84,092 | €195,699 | +€111,607 | +133% |
| Non-recurring operating income | 76A | €5,329,559 | €0 | -€5.3m | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270,971 | €386,466 | +€115,495 | +42.6% |
| Other operating charges | 640/8 | €332,221 | €150,528 | -€181,693 | -54.7% |
| Gross operating margin | 9900 | €6,607,386 | €878,423 | -€5.7m | -86.7% |
| Operating profit (loss) | 9901 | €6,004,195 | €341,429 | -€5.7m | -94.3% |
| Financial income | 75/76B | €41,193 | €84,482 | +€43,290 | +105% |
| Recurring financial income | 75 | €41,193 | €84,482 | +€43,290 | +105% |
| Financial charges | 65/66B | €150,120 | €143,183 | -€6,937 | -4.6% |
| Recurring financial charges | 65 | €150,120 | €143,183 | -€6,937 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €5,895,267 | €282,728 | -€5.6m | -95.2% |
| Transfer from deferred taxes | 780 | €8,329 | €29,140 | +€20,811 | +250% |
| Transfer to deferred taxes | 680 | €1,332,390 | €0 | -€1.3m | -100% |
| Income taxes | 67/77 | €174,687 | €92,283 | -€82,404 | -47.2% |
| Profit (loss) for the period | 9904 | €4,396,520 | €219,584 | -€4.2m | -95.0% |
| Transfer from tax-exempt reserves | 789 | €20,035 | €82,467 | +€62,432 | +312% |
| Transfer to tax-exempt reserves | 689 | €3,997,169 | €0 | -€4.0m | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €419,386 | €302,052 | -€117,334 | -28.0% |
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 28 October 2026 via checked.be.