Twinsight: what changed
What changed
Twinsight
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€78,324
2025 · €82,272-€3,948
Equity
€121,178
2025 · €122,854-€1,676
Cash
€96,192
2025 · €38,508+€57,684
Balance sheet total
€138,981
2025 · €160,373-€21,392
Largest movements
Assets
- Receivables within one year -€76,957
down €76,957 (-71.6%), from €107,464 to €30,506
of which Trade receivables: -€65,297
- Cash +€57,684
up €57,684 (+150%), from €38,508 to €96,192
mainly Net result for the year (+€78,324) and Receivables within one year (+€76,957)
Equity and liabilities
- Trade debts -€26,745
down €26,745 (-82.1%), from €32,589 to €5,844
- Other debts +€11,571
new in 2026: €11,571
- Tax, wage and social debts -€4,542
down €4,542 (-92.1%), from €4,930 to €389
- Reserves -€1,676
down €1,676 (-1.6%), from €104,254 to €102,578
of which Distributable reserves: -€1,676
Income statement
- Gross operating margin -€3,446
down €3,446 (-3.0%), from €115,986 to €112,540
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€82,272
Gross operating margin
-€3,446
Depreciation
-€378
Other operating charges
-€452
Financial income
-€53
Financial charges
+€664
Taxes
-€284
Result 2026
€78,324
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€139,625
Investment
-€1,941
Financing
-€80,000
Cash 2025
€38,508
From operations (derived)
+€139,625
Net result for the year
+€78,324
Depreciation
+€3,450
Receivables within one year
+€76,957
Deferred charges and accrued income
+€609
Trade debts
-€26,745
Tax, wage and social debts
-€4,542
Other debts
+€11,571
Investment (derived)
-€1,941
Investment in fixed assets (net)
-€1,941
Financing
-€80,000
Contributions, distributions and other
-€80,000
Cash 2026
€96,192
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,373 | €138,981 | -€21,392 | -13.3% |
| Fixed assets | 21/28 | €10,974 | €9,465 | -€1,509 | -13.8% |
| Tangible fixed assets | 22/27 | €10,974 | €9,465 | -€1,509 | -13.8% |
| Plant, machinery and equipment | 23 | €7,076 | €6,472 | -€603 | -8.5% |
| Furniture and vehicles | 24 | €3,898 | €2,993 | -€906 | -23.2% |
| Current assets | 29/58 | €149,399 | €129,516 | -€19,883 | -13.3% |
| Amounts receivable within one year | 40/41 | €107,464 | €30,506 | -€76,957 | -71.6% |
| Trade receivables | 40 | €93,786 | €28,488 | -€65,297 | -69.6% |
| Other amounts receivable | 41 | €13,678 | €2,018 | -€11,660 | -85.2% |
| Cash at bank and in hand | 54/58 | €38,508 | €96,192 | +€57,684 | +150% |
| Deferred charges and accrued income | 490/1 | €3,427 | €2,818 | -€609 | -17.8% |
| Total equity and liabilities | 10/49 | €160,373 | €138,981 | -€21,392 | -13.3% |
| Equity | 10/15 | €122,854 | €121,178 | -€1,676 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,254 | €102,578 | -€1,676 | -1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,394 | €100,718 | -€1,676 | -1.6% |
| Amounts payable | 17/49 | €37,519 | €17,803 | -€19,716 | -52.5% |
| Amounts payable within one year | 42/48 | €37,519 | €17,803 | -€19,716 | -52.5% |
| Trade debts | 44 | €32,589 | €5,844 | -€26,745 | -82.1% |
| Suppliers | 440/4 | €32,589 | €5,844 | -€26,745 | -82.1% |
| Taxes, remuneration and social security | 45 | €4,930 | €389 | -€4,542 | -92.1% |
| Taxes | 450/3 | €4,930 | €389 | -€4,542 | -92.1% |
| Other amounts payable | 47/48 | - | €11,571 | +€11,571 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,072 | €3,450 | +€378 | +12.3% |
| Other operating charges | 640/8 | €753 | €1,205 | +€452 | +60.1% |
| Gross operating margin | 9900 | €115,986 | €112,540 | -€3,446 | -3.0% |
| Operating profit (loss) | 9901 | €112,161 | €107,886 | -€4,276 | -3.8% |
| Financial income | 75/76B | €480 | €427 | -€53 | -11.0% |
| Recurring financial income | 75 | €480 | €427 | -€53 | -11.0% |
| Financial charges | 65/66B | €7,406 | €6,742 | -€664 | -9.0% |
| Recurring financial charges | 65 | €7,406 | €6,742 | -€664 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €105,235 | €101,571 | -€3,665 | -3.5% |
| Income taxes | 67/77 | €22,963 | €23,247 | +€284 | +1.2% |
| Profit (loss) for the period | 9904 | €82,272 | €78,324 | -€3,948 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,272 | €78,324 | -€3,948 | -4.8% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.