TWINTEC: 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.
What changed
TWINTEC
NACE 41.003, General construction of other non-residential buildings
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€271,382
2023 · €666,972-€395,590
Equity
€23.6m
2023 · €18.8m+€4.8m
Cash
€272,590
2023 · €792,318-€519,728
Balance sheet total
€59.2m
2023 · €53.4m+€5.8m
Largest movements
Assets
- Receivables within one year +€6.7m
up €6.7m (+42.7%), from €15.7m to €22.4m
of which Other amounts receivable: +€6.6m
- Tangible fixed assets -€640,840
down €640,840 (-24.6%), from €2.6m to €2.0m
of which Leasing and similar rights: -€507,579
Equity and liabilities
- Contributions +€4.5m
up €4.5m (+77.8%), from €5.8m to €10.3m
- Other debts +€2.5m
up €2.5m (+2083.7%), from €120,297 to €2.6m
- Debts after one year -€1.3m
down €1.3m (-16.9%), from €7.8m to €6.5m
- Trade debts +€787,890
up €787,890 (+7.4%), from €10.7m to €11.5m
- Short-term financial debts -€743,787
down €743,787 (-5.5%), from €13.5m to €12.8m
Income statement
- Turnover -€1.2m
down €1.2m (-11.5%), from €10.8m to €9.6m
- Financial income +€864,440
up €864,440 (+52.5%), from €1.6m to €2.5m
- Goods and materials -€238,918
down €238,918 (-3.6%), from €6.5m to €6.3m
of which Purchases: -€212,970
- Financial charges +€224,868
up €224,868 (+11.4%), from €2.0m to €2.2m
- Other operating charges +€134,245
up €134,245 (+1046.0%), from €12,834 to €147,079
From the 2023 result to the 2024 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 2023
€666,972
Turnover
-€1.2m
Other operating income
+€49,461
Goods and materials
+€238,918
Services and other goods
+€52,960
Staff costs
+€9,760
Depreciation
-€22,952
Other operating charges
-€134,245
Other operating items
+€25,040
Financial income
+€864,440
Financial charges
-€224,868
Taxes
-€7,098
Result 2024
€271,382
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€2.3m
Investment
-€501,010
Financing
+€2.3m
Cash 2023
€792,318
From operations (derived)
-€2.3m
Net result for the year
+€271,382
Depreciation
+€754,584
Receivables after one year
+€55,938
Stocks and contracts
+€45,180
Receivables within one year
-€6.7m
Smaller working-capital items
+€6,644
Trade debts
+€787,890
Tax, wage and social debts
-€50,517
Other debts
+€2.5m
Investment (derived)
-€501,010
Investment in fixed assets (net)
-€501,010
Financing
+€2.3m
Debts after one year
-€1.3m
Current portion of long-term debt
-€114,582
Short-term financial debts
-€743,787
Contributions, distributions and other
+€4.5m
Cash 2024
€272,590
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,361,715 | €59,209,282 | +€5.8m | +11.0% |
| Fixed assets | 21/28 | €35,530,972 | €35,277,399 | -€253,574 | -0.7% |
| Intangible fixed assets | 21 | €197,388 | €147,693 | -€49,696 | -25.2% |
| Tangible fixed assets | 22/27 | €2,600,509 | €1,959,670 | -€640,840 | -24.6% |
| Land and buildings | 22 | €116,895 | €113,739 | -€3,156 | -2.7% |
| Plant, machinery and equipment | 23 | €585,926 | €468,358 | -€117,568 | -20.1% |
| Furniture and vehicles | 24 | €29,140 | €16,603 | -€12,537 | -43.0% |
| Leasing and similar rights | 25 | €1,868,549 | €1,360,970 | -€507,579 | -27.2% |
| Financial fixed assets | 28 | €32,733,075 | €33,170,037 | +€436,962 | +1.3% |
| Affiliated companies | 280/1 | €32,568,082 | €33,018,082 | +€450,000 | +1.4% |
| Participating interests | 280 | €28,709,730 | €29,209,730 | +€500,000 | +1.7% |
| Amounts receivable | 281 | €3,858,352 | €3,808,352 | -€50,000 | -1.3% |
| Other financial fixed assets | 284/8 | €164,993 | €151,955 | -€13,038 | -7.9% |
| Shares | 284 | €15,350 | €15,350 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €149,643 | €136,605 | -€13,038 | -8.7% |
| Current assets | 29/58 | €17,830,743 | €23,931,884 | +€6.1m | +34.2% |
| Amounts receivable after more than one year | 29 | €55,938 | €0 | -€55,938 | -100.0% |
| Other amounts receivable | 291 | €55,938 | €0 | -€55,938 | -100.0% |
| Stocks and contracts in progress | 3 | €1,230,843 | €1,185,662 | -€45,180 | -3.7% |
| Stocks | 30/36 | €1,230,843 | €1,185,662 | -€45,180 | -3.7% |
| Raw materials and consumables | 30/31 | €1,230,843 | €1,185,662 | -€45,180 | -3.7% |
| Amounts receivable within one year | 40/41 | €15,728,272 | €22,448,671 | +€6.7m | +42.7% |
| Trade receivables | 40 | €2,430,687 | €2,562,882 | +€132,194 | +5.4% |
| Other amounts receivable | 41 | €13,297,584 | €19,885,789 | +€6.6m | +49.5% |
| Cash at bank and in hand | 54/58 | €792,318 | €272,590 | -€519,728 | -65.6% |
| Deferred charges and accrued income | 490/1 | €23,372 | €24,960 | +€1,588 | +6.8% |
| Total equity and liabilities | 10/49 | €53,361,715 | €59,209,282 | +€5.8m | +11.0% |
| Equity | 10/15 | €18,812,823 | €23,584,204 | +€4.8m | +25.4% |
| Contributions | 10/11 | €5,783,394 | €10,283,394 | +€4.5m | +77.8% |
| Capital | 10 | €5,783,394 | €10,283,394 | +€4.5m | +77.8% |
| Issued capital | 100 | €5,783,394 | €10,283,394 | +€4.5m | +77.8% |
| Reserves | 13 | €778,339 | €791,908 | +€13,569 | +1.7% |
| Non-distributable reserves | 130/1 | €578,339 | €591,908 | +€13,569 | +2.3% |
| Legal reserve | 130 | €578,339 | €591,908 | +€13,569 | +2.3% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,251,090 | €12,508,902 | +€257,813 | +2.1% |
| Provisions and deferred taxes | 16 | €16,000 | €16,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €16,000 | €16,000 | = | 0.0% |
| Environmental obligations | 163 | €16,000 | €16,000 | = | 0.0% |
| Amounts payable | 17/49 | €34,532,892 | €35,609,078 | +€1.1m | +3.1% |
| Amounts payable after more than one year | 17 | €7,810,093 | €6,492,369 | -€1.3m | -16.9% |
| Financial debts | 170/4 | €7,810,093 | €6,492,369 | -€1.3m | -16.9% |
| Subordinated loans | 170 | €5,166,667 | €250,000 | -€4.9m | -95.2% |
| Unsubordinated bonds | 171 | €1,419,220 | €5,241,033 | +€3.8m | +269.3% |
| Leasing and similar obligations | 172 | €951,594 | €501,336 | -€450,258 | -47.3% |
| Credit institutions | 173 | €272,612 | €0 | -€272,612 | -100.0% |
| Other loans | 174 | - | €500,000 | +€500,000 | |
| Amounts payable within one year | 42/48 | €26,722,800 | €29,108,477 | +€2.4m | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €2,244,105 | €2,129,523 | -€114,582 | -5.1% |
| Financial debts | 43 | €13,520,008 | €12,776,221 | -€743,787 | -5.5% |
| Credit institutions | 430/8 | €13,520,008 | €12,776,221 | -€743,787 | -5.5% |
| Trade debts | 44 | €10,706,661 | €11,494,551 | +€787,890 | +7.4% |
| Suppliers | 440/4 | €10,706,661 | €11,494,551 | +€787,890 | +7.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €131,729 | €81,211 | -€50,517 | -38.3% |
| Taxes | 450/3 | €59,932 | €16,113 | -€43,819 | -73.1% |
| Remuneration and social security | 454/9 | €71,797 | €65,098 | -€6,699 | -9.3% |
| Other amounts payable | 47/48 | €120,297 | €2,626,972 | +€2.5m | +2083.7% |
| Accrued charges and deferred income | 492/3 | €0 | €8,232 | +€8,232 | |
| Operating income | 70/76A | €10,912,280 | €9,714,734 | -€1.2m | -11.0% |
| Turnover | 70 | €10,799,558 | €9,552,552 | -€1.2m | -11.5% |
| Other operating income | 74 | €112,722 | €162,182 | +€49,461 | +43.9% |
| Operating charges | 60/66A | €9,895,133 | €9,725,651 | -€169,482 | -1.7% |
| Goods for resale, raw materials and consumables | 60 | €6,548,697 | €6,309,780 | -€238,918 | -3.6% |
| Purchases | 600/8 | €6,477,569 | €6,264,599 | -€212,970 | -3.3% |
| Change in stocks: decrease (increase) | 609 | €71,128 | €45,180 | -€25,948 | -36.5% |
| Services and other goods | 61 | €1,304,831 | €1,251,871 | -€52,960 | -4.1% |
| Remuneration, social security and pensions | 62 | €1,272,098 | €1,262,338 | -€9,760 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731,632 | €754,584 | +€22,952 | +3.1% |
| Other operating charges | 640/8 | €12,834 | €147,079 | +€134,245 | +1046.0% |
| Non-recurring operating charges | 66A | €25,040 | - | -€25,040 | |
| Operating profit (loss) | 9901 | €1,017,147 | -€10,917 | -€1.0m | |
| Financial income | 75/76B | €1,646,938 | €2,511,379 | +€864,440 | +52.5% |
| Recurring financial income | 75 | €1,646,938 | €2,511,379 | +€864,440 | +52.5% |
| Income from financial fixed assets | 750 | €718,012 | €1,009,006 | +€290,994 | +40.5% |
| Income from current assets | 751 | €566,986 | €1,497,429 | +€930,443 | +164.1% |
| Other financial income | 752/9 | €361,940 | €4,943 | -€356,997 | -98.6% |
| Financial charges | 65/66B | €1,969,454 | €2,194,322 | +€224,868 | +11.4% |
| Recurring financial charges | 65 | €1,969,454 | €2,194,322 | +€224,868 | +11.4% |
| Debt charges | 650 | €1,434,741 | €1,933,875 | +€499,134 | +34.8% |
| Other financial charges | 652/9 | €534,713 | €260,447 | -€274,266 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | €694,631 | €306,139 | -€388,492 | -55.9% |
| Income taxes | 67/77 | €27,660 | €34,757 | +€7,098 | +25.7% |
| Taxes | 670/3 | €27,965 | €34,757 | +€6,792 | +24.3% |
| Tax adjustments and reversals of tax provisions | 77 | €306 | - | -€306 | |
| Profit (loss) for the period | 9904 | €666,972 | €271,382 | -€395,590 | -59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €666,972 | €271,382 | -€395,590 | -59.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.