Twintag: 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.
Twintag
Largest movements
- Cash -€418,628
down €418,628 (-49.7%), from €842,000 to €423,371
mainly Net result for the year (-€572,384) and Investment in fixed assets (net) (-€502,326)
- Receivables within one year -€292,716
down €292,716 (-51.4%), from €569,276 to €276,560
of which Trade receivables: -€301,602
- Intangible fixed assets -€117,349
down €117,349 (-7.1%), from €1.6m to €1.5m
- Deferred charges and accrued income +€74,354
up €74,354 (+96.9%), from €76,762 to €151,117
- Profit (loss) carried forward -€572,384
down €572,384 (-8.6%), from -€6.7m to -€7.2m
- Accrued charges and deferred income -€96,500
down €96,500 (-12.9%), from €748,095 to €651,595
- Tax, wage and social debts -€53,842
down €53,842 (-44.1%), from €122,197 to €68,355
of which Remuneration and social security: -€38,837
- Trade debts -€33,526
down €33,526 (-17.4%), from €192,141 to €158,614
- Gross operating margin +€127,483
up €127,483 (+27.1%), from €470,221 to €597,704
- Staff costs -€69,886
down €69,886 (-14.0%), from €499,011 to €429,125
- Write-downs +€24,208
new in 2025: €24,208
- Financial income -€7,220
down €7,220 (-96.4%), from €7,487 to €267
of which Non-recurring financial income: -€6,567
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 | €3,138,670 | €2,382,097 | -€756,573 | -24.1% |
| Fixed assets | 21/28 | €1,650,632 | €1,531,049 | -€119,582 | -7.2% |
| Intangible fixed assets | 21 | €1,645,791 | €1,528,442 | -€117,349 | -7.1% |
| Tangible fixed assets | 22/27 | €4,404 | €2,171 | -€2,233 | -50.7% |
| Plant, machinery and equipment | 23 | €3,940 | €2,171 | -€1,768 | -44.9% |
| Furniture and vehicles | 24 | €465 | €0 | -€465 | -100% |
| Financial fixed assets | 28 | €436 | €436 | = | 0.0% |
| Current assets | 29/58 | €1,488,038 | €851,048 | -€636,990 | -42.8% |
| Amounts receivable within one year | 40/41 | €569,276 | €276,560 | -€292,716 | -51.4% |
| Trade receivables | 40 | €569,276 | €267,674 | -€301,602 | -53.0% |
| Other amounts receivable | 41 | €0 | €8,886 | +€8,886 | |
| Cash at bank and in hand | 54/58 | €842,000 | €423,371 | -€418,628 | -49.7% |
| Deferred charges and accrued income | 490/1 | €76,762 | €151,117 | +€74,354 | +96.9% |
| Total equity and liabilities | 10/49 | €3,138,670 | €2,382,097 | -€756,573 | -24.1% |
| Equity | 10/15 | €1,353,399 | €781,015 | -€572,384 | -42.3% |
| Contributions | 10/11 | €8,007,488 | €8,007,488 | = | 0.0% |
| Capital | 10 | €259,683 | €259,683 | = | 0.0% |
| Issued capital | 100 | €259,683 | €259,683 | = | 0.0% |
| Contributions outside capital | 11 | €7,747,805 | €7,747,805 | = | 0.0% |
| Share premium | 1100/10 | €7,747,805 | €7,747,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,654,089 | -€7,226,473 | -€572,384 | -8.6% |
| Amounts payable | 17/49 | €1,785,271 | €1,601,082 | -€184,189 | -10.3% |
| Amounts payable after more than one year | 17 | €722,517 | €722,517 | = | 0.0% |
| Financial debts | 170/4 | €722,517 | €722,517 | = | 0.0% |
| Amounts payable within one year | 42/48 | €314,659 | €226,970 | -€87,689 | -27.9% |
| Trade debts | 44 | €192,141 | €158,614 | -€33,526 | -17.4% |
| Suppliers | 440/4 | €192,141 | €158,614 | -€33,526 | -17.4% |
| Taxes, remuneration and social security | 45 | €122,197 | €68,355 | -€53,842 | -44.1% |
| Taxes | 450/3 | €35,198 | €20,193 | -€15,005 | -42.6% |
| Remuneration and social security | 454/9 | €86,999 | €48,162 | -€38,837 | -44.6% |
| Other amounts payable | 47/48 | €321 | €0 | -€321 | -100% |
| Accrued charges and deferred income | 492/3 | €748,095 | €651,595 | -€96,500 | -12.9% |
| Remuneration, social security and pensions | 62 | €499,011 | €429,125 | -€69,886 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €625,531 | €621,908 | -€3,623 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,208 | +€24,208 | |
| Other operating charges | 640/8 | €2,271 | €2,890 | +€619 | +27.3% |
| Gross operating margin | 9900 | €470,221 | €597,704 | +€127,483 | +27.1% |
| Operating profit (loss) | 9901 | -€656,592 | -€480,427 | +€176,164 | +26.8% |
| Financial income | 75/76B | €7,487 | €267 | -€7,220 | -96.4% |
| Recurring financial income | 75 | €920 | €267 | -€654 | -71.0% |
| Non-recurring financial income | 76B | €6,567 | €0 | -€6,567 | -100% |
| Financial charges | 65/66B | €82,701 | €88,626 | +€5,925 | +7.2% |
| Recurring financial charges | 65 | €82,701 | €88,626 | +€5,925 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | -€731,805 | -€568,787 | +€163,018 | +22.3% |
| Income taxes | 67/77 | -€117 | €3,597 | +€3,714 | |
| Profit (loss) for the period | 9904 | -€731,688 | -€572,384 | +€159,305 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€731,688 | -€572,384 | +€159,305 | +21.8% |
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 31 October 2026 via checked.be.