TWO BE: 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.
TWO BE
Largest movements
- Tangible fixed assets -€2,532
down €2,532 (-64.5%), from €3,923 to €1,391
of which Other tangible fixed assets: -€1,973
- Cash +€1,214
up €1,214 (+672.9%), from €180 to €1,394
mainly Other debts (+€12,907) and Depreciation (+€3,102)
- Deferred charges and accrued income +€1,127
up €1,127 (+248.4%), from €454 to €1,581
- Intangible fixed assets -€570
down €570 (-28.5%), from €1,997 to €1,427
- Stocks and contracts +€373
up €373 (+2.1%), from €17,668 to €18,040
- Other debts +€12,907
up €12,907 (+139.7%), from €9,239 to €22,147
- Profit (loss) carried forward -€10,548
down €10,548 (-42.7%), from -€24,701 to -€35,249
- Trade debts -€5,472
down €5,472 (-40.4%), from €13,552 to €8,080
- Short-term financial debts +€1,965
up €1,965 (+86.4%), from €2,274 to €4,239
- Tax, wage and social debts +€945
up €945 (+25.3%), from €3,743 to €4,688
of which Remuneration and social security: +€1,000
- Gross operating margin +€6,290
up €6,290 (+55.0%), from -€11,435 to -€5,144
- Depreciation -€2,601
down €2,601 (-45.6%), from €5,703 to €3,102
- Other operating charges -€276
down €276 (-18.2%), from €1,515 to €1,239
- Financial charges -€271
down €271 (-20.3%), from €1,333 to €1,062
- Financial income -€119
no longer reported in 2025 (was €119)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,222 | €23,904 | -€318 | -1.3% |
| Fixed assets | 21/28 | €5,920 | €2,818 | -€3,102 | -52.4% |
| Intangible fixed assets | 21 | €1,997 | €1,427 | -€570 | -28.5% |
| Tangible fixed assets | 22/27 | €3,923 | €1,391 | -€2,532 | -64.5% |
| Plant, machinery and equipment | 23 | €147 | €27 | -€120 | -81.7% |
| Furniture and vehicles | 24 | €978 | €538 | -€439 | -44.9% |
| Other tangible fixed assets | 26 | €2,799 | €826 | -€1,973 | -70.5% |
| Current assets | 29/58 | €18,302 | €21,086 | +€2,784 | +15.2% |
| Stocks and contracts in progress | 3 | €17,668 | €18,040 | +€373 | +2.1% |
| Stocks | 30/36 | €17,668 | €18,040 | +€373 | +2.1% |
| Amounts receivable within one year | 40/41 | - | €70 | +€70 | |
| Trade receivables | 40 | - | €70 | +€70 | |
| Cash at bank and in hand | 54/58 | €180 | €1,394 | +€1,214 | +672.9% |
| Deferred charges and accrued income | 490/1 | €454 | €1,581 | +€1,127 | +248.4% |
| Total equity and liabilities | 10/49 | €24,222 | €23,904 | -€318 | -1.3% |
| Equity | 10/15 | -€6,151 | -€16,699 | -€10,548 | -171.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,701 | -€35,249 | -€10,548 | -42.7% |
| Amounts payable | 17/49 | €30,373 | €40,603 | +€10,230 | +33.7% |
| Amounts payable within one year | 42/48 | €30,237 | €40,603 | +€10,366 | +34.3% |
| Financial debts | 43 | €2,274 | €4,239 | +€1,965 | +86.4% |
| Credit institutions | 430/8 | €2,274 | €4,239 | +€1,965 | +86.4% |
| Trade debts | 44 | €13,552 | €8,080 | -€5,472 | -40.4% |
| Suppliers | 440/4 | €13,552 | €8,080 | -€5,472 | -40.4% |
| Advances received on contracts in progress | 46 | €1,429 | €1,450 | +€21 | +1.5% |
| Taxes, remuneration and social security | 45 | €3,743 | €4,688 | +€945 | +25.3% |
| Taxes | 450/3 | €2,743 | €2,688 | -€55 | -2.0% |
| Remuneration and social security | 454/9 | €1,000 | €2,000 | +€1,000 | +100.0% |
| Other amounts payable | 47/48 | €9,239 | €22,147 | +€12,907 | +139.7% |
| Accrued charges and deferred income | 492/3 | €137 | - | -€137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,703 | €3,102 | -€2,601 | -45.6% |
| Other operating charges | 640/8 | €1,515 | €1,239 | -€276 | -18.2% |
| Gross operating margin | 9900 | -€11,435 | -€5,144 | +€6,290 | +55.0% |
| Operating profit (loss) | 9901 | -€18,653 | -€9,485 | +€9,168 | +49.1% |
| Financial income | 75/76B | €119 | - | -€119 | |
| Recurring financial income | 75 | €119 | - | -€119 | |
| Financial charges | 65/66B | €1,333 | €1,062 | -€271 | -20.3% |
| Recurring financial charges | 65 | €1,333 | €1,062 | -€271 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,867 | -€10,548 | +€9,319 | +46.9% |
| Profit (loss) for the period | 9904 | -€19,867 | -€10,548 | +€9,319 | +46.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,867 | -€10,548 | +€9,319 | +46.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.