TWINSTON MANAGEMENT: 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.
TWINSTON MANAGEMENT
Largest movements
- Receivables within one year +€83,934
up €83,934 (+82.3%), from €101,931 to €185,864
of which Other amounts receivable: +€53,365
- Trade debts +€65,559
up €65,559 (+1,410%), from €4,648 to €70,208
of which Suppliers: +€65,559
- Other debts +€13,753
up €13,753 (+164%), from €8,394 to €22,148
- Accrued charges and deferred income +€9,988
up €9,988 (+2,452%), from €407 to €10,395
- Tax, wage and social debts -€7,173
down €7,173 (-32.5%), from €22,077 to €14,904
of which Taxes: -€7,404
- Staff costs +€5,683
up €5,683 (+108%), from €5,240 to €10,923
- Gross operating margin +€5,306
up €5,306 (+45.3%), from €11,722 to €17,028
- Other operating charges +€1,527
up €1,527 (+453%), from €337 to €1,864
- Taxes -€644
down €644 (-25.1%), from €2,569 to €1,925
- Financial charges +€401
up €401 (+21.7%), from €1,849 to €2,250
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €106,941 | €188,105 | +€81,164 | +75.9% |
| Formation expenses | 20 | €853 | €633 | -€221 | -25.9% |
| Fixed assets | 21/28 | €2,726 | €1,239 | -€1,487 | -54.5% |
| Tangible fixed assets | 22/27 | €2,654 | €1,167 | -€1,487 | -56.0% |
| Furniture and vehicles | 24 | €2,654 | €1,167 | -€1,487 | -56.0% |
| Financial fixed assets | 28 | €72 | €72 | = | 0.0% |
| Current assets | 29/58 | €103,362 | €186,234 | +€82,872 | +80.2% |
| Amounts receivable within one year | 40/41 | €101,931 | €185,864 | +€83,934 | +82.3% |
| Trade receivables | 40 | €3,845 | €34,414 | +€30,569 | +795% |
| Other amounts receivable | 41 | €98,086 | €151,450 | +€53,365 | +54.4% |
| Deferred charges and accrued income | 490/1 | €1,431 | €369 | -€1,062 | -74.2% |
| Total equity and liabilities | 10/49 | €106,941 | €188,105 | +€81,164 | +75.9% |
| Equity | 10/15 | €57,705 | €56,064 | -€1,641 | -2.8% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €182 | €182 | = | 0.0% |
| Distributable reserves | 133 | €182 | €182 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,924 | €12,283 | -€1,641 | -11.8% |
| Amounts payable | 17/49 | €49,236 | €132,041 | +€82,805 | +168% |
| Amounts payable within one year | 42/48 | €48,829 | €121,646 | +€72,817 | +149% |
| Financial debts | 43 | €13,709 | €14,386 | +€677 | +4.9% |
| Credit institutions | 430/8 | €13,709 | €14,386 | +€677 | +4.9% |
| Trade debts | 44 | €4,648 | €70,208 | +€65,559 | +1,410% |
| Suppliers | 440/4 | €3,748 | €69,308 | +€65,559 | +1,749% |
| Bills of exchange payable | 441 | €900 | €900 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,077 | €14,904 | -€7,173 | -32.5% |
| Taxes | 450/3 | €18,356 | €10,953 | -€7,404 | -40.3% |
| Remuneration and social security | 454/9 | €3,721 | €3,951 | +€230 | +6.2% |
| Other amounts payable | 47/48 | €8,394 | €22,148 | +€13,753 | +164% |
| Accrued charges and deferred income | 492/3 | €407 | €10,395 | +€9,988 | +2,452% |
| Remuneration, social security and pensions | 62 | €5,240 | €10,923 | +€5,683 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,639 | €1,708 | +€69 | +4.2% |
| Other operating charges | 640/8 | €337 | €1,864 | +€1,527 | +453% |
| Gross operating margin | 9900 | €11,722 | €17,028 | +€5,306 | +45.3% |
| Operating profit (loss) | 9901 | €4,506 | €2,534 | -€1,972 | -43.8% |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €1,849 | €2,250 | +€401 | +21.7% |
| Recurring financial charges | 65 | €1,849 | €2,250 | +€401 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €2,704 | €284 | -€2,420 | -89.5% |
| Income taxes | 67/77 | €2,569 | €1,925 | -€644 | -25.1% |
| Profit (loss) for the period | 9904 | €135 | -€1,641 | -€1,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €135 | -€1,641 | -€1,776 |
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 26 October 2026 via checked.be.