TWIST: 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
TWIST
NACE 12.000, Manufacture of tobacco products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€727,477
2024 · €768,746-€41,270
Equity
€11.8m
2024 · €11.1m+€727,477
Cash
€100,431
2024 · €155,231-€54,799
Balance sheet total
€26.2m
2024 · €26.8m-€611,304
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+23.1%), from €4.5m to €5.5m
of which Trade receivables: +€1.0m
- Tangible fixed assets -€939,417
down €939,417 (-10.1%), from €9.3m to €8.4m
of which Plant, machinery and equipment: -€895,499
- Stocks and contracts -€585,698
down €585,698 (-4.8%), from €12.3m to €11.7m
Equity and liabilities
- Debts after one year -€1.3m
down €1.3m (-12.7%), from €10.4m to €9.1m
- Reserves +€727,477
up €727,477 (+11.3%), from €6.4m to €7.1m
of which Distributable reserves: +€691,103
- Tax, wage and social debts +€480,426
up €480,426 (+89.1%), from €539,142 to €1.0m
of which Taxes: +€309,218
- Accrued charges and deferred income -€299,992
down €299,992 (-41.0%), from €732,133 to €432,141
Income statement
- Turnover -€1.1m
down €1.1m (-4.7%), from €23.9m to €22.8m
- Services and other goods -€903,320
down €903,320 (-11.4%), from €8.0m to €7.0m
- Goods and materials -€440,265
down €440,265 (-3.7%), from €12.0m to €11.6m
of which Purchases: -€5.1m
- Other operating income -€247,659
down €247,659 (-20.0%), from €1.2m to €989,037
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
€768,746
Turnover
-€1.1m
Other operating income
-€247,659
Goods and materials
+€440,265
Services and other goods
+€903,320
Staff costs
-€161,133
Depreciation
+€55,935
Write-downs
-€370
Other operating charges
+€16,309
Other operating items
-€4,315
Financial income
+€41,933
Financial charges
+€15,570
Taxes
+€28,974
Result 2025
€727,477
Cash bridge derived
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
+€1.6m
Investment
-€289,233
Financing
-€1.3m
Cash 2024
€155,231
From operations (derived)
+€1.6m
Net result for the year
+€727,477
Depreciation
+€1.3m
Stocks and contracts
+€585,698
Receivables within one year
-€1.0m
Deferred charges and accrued income
-€964
Trade debts
-€125,601
Tax, wage and social debts
+€480,426
Other debts
-€70,000
Accrued charges and deferred income
-€299,992
Investment (derived)
-€289,233
Investment in fixed assets (net)
-€289,233
Financing
-€1.3m
Debts after one year
-€1.3m
Current portion of long-term debt
+€4,390
Cash 2025
€100,431
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,826,648 | €26,215,344 | -€611,304 | -2.3% |
| Fixed assets | 21/28 | €9,842,971 | €8,839,099 | -€1.0m | -10.2% |
| Intangible fixed assets | 21 | €198,815 | €134,360 | -€64,455 | -32.4% |
| Tangible fixed assets | 22/27 | €9,323,741 | €8,384,324 | -€939,417 | -10.1% |
| Land and buildings | 22 | €182,489 | €177,804 | -€4,685 | -2.6% |
| Plant, machinery and equipment | 23 | €7,179,939 | €6,284,440 | -€895,499 | -12.5% |
| Furniture and vehicles | 24 | €184,680 | €113,845 | -€70,835 | -38.4% |
| Leasing and similar rights | 25 | €1,584,510 | €1,516,312 | -€68,197 | -4.3% |
| Assets under construction and advance payments | 27 | €192,123 | €291,923 | +€99,800 | +51.9% |
| Financial fixed assets | 28 | €320,415 | €320,415 | = | 0.0% |
| Affiliated companies | 280/1 | €61,800 | €61,800 | = | 0.0% |
| Participating interests | 280 | €61,800 | €61,800 | = | 0.0% |
| Other financial fixed assets | 284/8 | €258,615 | €258,615 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €258,615 | €258,615 | = | 0.0% |
| Current assets | 29/58 | €16,983,677 | €17,376,245 | +€392,568 | +2.3% |
| Stocks and contracts in progress | 3 | €12,296,959 | €11,711,261 | -€585,698 | -4.8% |
| Stocks | 30/36 | €12,296,959 | €11,711,261 | -€585,698 | -4.8% |
| Goods purchased for resale | 34 | €12,296,959 | €11,711,261 | -€585,698 | -4.8% |
| Amounts receivable within one year | 40/41 | €4,467,522 | €5,499,623 | +€1.0m | +23.1% |
| Trade receivables | 40 | €4,101,838 | €5,115,402 | +€1.0m | +24.7% |
| Other amounts receivable | 41 | €365,684 | €384,222 | +€18,537 | +5.1% |
| Cash at bank and in hand | 54/58 | €155,231 | €100,431 | -€54,799 | -35.3% |
| Deferred charges and accrued income | 490/1 | €63,965 | €64,929 | +€964 | +1.5% |
| Total equity and liabilities | 10/49 | €26,826,648 | €26,215,344 | -€611,304 | -2.3% |
| Equity | 10/15 | €11,059,618 | €11,787,095 | +€727,477 | +6.6% |
| Contributions | 10/11 | €4,639,651 | €4,639,651 | = | 0.0% |
| Capital | 10 | €4,639,651 | €4,639,651 | = | 0.0% |
| Issued capital | 100 | €4,639,651 | €4,639,651 | = | 0.0% |
| Reserves | 13 | €6,419,967 | €7,147,444 | +€727,477 | +11.3% |
| Non-distributable reserves | 130/1 | €320,999 | €357,373 | +€36,374 | +11.3% |
| Legal reserve | 130 | €320,999 | €357,373 | +€36,374 | +11.3% |
| Distributable reserves | 133 | €6,098,969 | €6,790,071 | +€691,103 | +11.3% |
| Amounts payable | 17/49 | €15,767,030 | €14,428,249 | -€1.3m | -8.5% |
| Amounts payable after more than one year | 17 | €10,429,275 | €9,101,271 | -€1.3m | -12.7% |
| Financial debts | 170/4 | €10,429,275 | €9,101,271 | -€1.3m | -12.7% |
| Leasing and similar obligations | 172 | €579,275 | €401,271 | -€178,004 | -30.7% |
| Other loans | 174 | €9,850,000 | €8,700,000 | -€1.2m | -11.7% |
| Amounts payable within one year | 42/48 | €4,605,622 | €4,894,837 | +€289,215 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €173,614 | €178,004 | +€4,390 | +2.5% |
| Trade debts | 44 | €3,722,866 | €3,597,265 | -€125,601 | -3.4% |
| Suppliers | 440/4 | €3,722,866 | €3,597,265 | -€125,601 | -3.4% |
| Taxes, remuneration and social security | 45 | €539,142 | €1,019,567 | +€480,426 | +89.1% |
| Taxes | 450/3 | €342,496 | €651,714 | +€309,218 | +90.3% |
| Remuneration and social security | 454/9 | €196,646 | €367,853 | +€171,208 | +87.1% |
| Other amounts payable | 47/48 | €170,000 | €100,000 | -€70,000 | -41.2% |
| Accrued charges and deferred income | 492/3 | €732,133 | €432,141 | -€299,992 | -41.0% |
| Operating income | 70/76A | €25,147,318 | €23,756,694 | -€1.4m | -5.5% |
| Turnover | 70 | €23,894,755 | €22,764,657 | -€1.1m | -4.7% |
| Other operating income | 74 | €1,236,696 | €989,037 | -€247,659 | -20.0% |
| Non-recurring operating income | 76A | €15,867 | €3,000 | -€12,867 | -81.1% |
| Operating charges | 60/66A | €23,650,811 | €22,387,933 | -€1.3m | -5.3% |
| Goods for resale, raw materials and consumables | 60 | €12,012,760 | €11,572,495 | -€440,265 | -3.7% |
| Purchases | 600/8 | €16,084,837 | €10,986,797 | -€5.1m | -31.7% |
| Change in stocks: decrease (increase) | 609 | -€4,072,077 | €585,698 | +€4.7m | |
| Services and other goods | 61 | €7,952,269 | €7,048,950 | -€903,320 | -11.4% |
| Remuneration, social security and pensions | 62 | €2,250,691 | €2,411,824 | +€161,133 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,349,039 | €1,293,105 | -€55,935 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,900 | -€10,531 | +€370 | +3.4% |
| Other operating charges | 640/8 | €88,400 | €72,091 | -€16,309 | -18.4% |
| Non-recurring operating charges | 66A | €8,552 | €0 | -€8,552 | -100.0% |
| Operating profit (loss) | 9901 | €1,496,508 | €1,368,761 | -€127,747 | -8.5% |
| Financial income | 75/76B | €100,627 | €142,559 | +€41,933 | +41.7% |
| Recurring financial income | 75 | €100,627 | €142,559 | +€41,933 | +41.7% |
| Income from current assets | 751 | €5,316 | €6,873 | +€1,557 | +29.3% |
| Other financial income | 752/9 | €95,310 | €135,686 | +€40,376 | +42.4% |
| Financial charges | 65/66B | €511,950 | €496,379 | -€15,570 | -3.0% |
| Recurring financial charges | 65 | €511,950 | €496,379 | -€15,570 | -3.0% |
| Debt charges | 650 | €451,377 | €479,712 | +€28,334 | +6.3% |
| Other financial charges | 652/9 | €60,572 | €16,668 | -€43,905 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €1,085,185 | €1,014,941 | -€70,243 | -6.5% |
| Income taxes | 67/77 | €316,439 | €287,465 | -€28,974 | -9.2% |
| Taxes | 670/3 | €316,439 | €287,465 | -€28,974 | -9.2% |
| Profit (loss) for the period | 9904 | €768,746 | €727,477 | -€41,270 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €768,746 | €727,477 | -€41,270 | -5.4% |
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 11 October 2026 via checked.be.