TWO FRONTIERS HOLDING: 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.
TWO FRONTIERS HOLDING
Largest movements
- Receivables after one year +€5,486
up €5,486 (+2.0%), from €274,307 to €279,793
- Debts after one year +€7,145
up €7,145 (+2.4%), from €297,868 to €305,013
- Financial income -€1,564
down €1,564 (-22.2%), from €7,050 to €5,486
- Gross operating margin +€1,095
up €1,095 (+22.6%), from -€4,851 to -€3,755
- Financial charges +€54
up €54 (+2.1%), from €2,554 to €2,608
of which Non-recurring financial charges: +€63
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 | €350,764 | €356,539 | +€5,775 | +1.6% |
| Fixed assets | 21/28 | €10,000 | €10,000 | = | 0.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €340,764 | €346,539 | +€5,775 | +1.7% |
| Amounts receivable after more than one year | 29 | €274,307 | €279,793 | +€5,486 | +2.0% |
| Other amounts receivable | 291 | €274,307 | €279,793 | +€5,486 | +2.0% |
| Stocks and contracts in progress | 3 | €65,985 | €65,985 | = | 0.0% |
| Stocks | 30/36 | €65,985 | €65,985 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €281 | €61 | -€221 | -78.4% |
| Other amounts receivable | 41 | €281 | €61 | -€221 | -78.4% |
| Cash at bank and in hand | 54/58 | €191 | €700 | +€510 | +267% |
| Total equity and liabilities | 10/49 | €350,764 | €356,539 | +€5,775 | +1.6% |
| Equity | 10/15 | €49,599 | €48,207 | -€1,393 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,139 | €27,747 | -€1,393 | -4.8% |
| Amounts payable | 17/49 | €301,164 | €308,332 | +€7,168 | +2.4% |
| Amounts payable after more than one year | 17 | €297,868 | €305,013 | +€7,145 | +2.4% |
| Other amounts payable | 178/9 | €297,868 | €305,013 | +€7,145 | +2.4% |
| Amounts payable within one year | 42/48 | €3,296 | €3,319 | +€23 | +0.7% |
| Trade debts | 44 | €996 | €1,019 | +€23 | +2.3% |
| Suppliers | 440/4 | €996 | €1,019 | +€23 | +2.3% |
| Other amounts payable | 47/48 | €2,300 | €2,300 | = | 0.0% |
| Other operating charges | 640/8 | €511 | €516 | +€5 | +1.0% |
| Gross operating margin | 9900 | -€4,851 | -€3,755 | +€1,095 | +22.6% |
| Operating profit (loss) | 9901 | -€5,361 | -€4,271 | +€1,090 | +20.3% |
| Financial income | 75/76B | €7,050 | €5,486 | -€1,564 | -22.2% |
| Recurring financial income | 75 | €7,050 | €5,486 | -€1,564 | -22.2% |
| Financial charges | 65/66B | €2,554 | €2,608 | +€54 | +2.1% |
| Recurring financial charges | 65 | €2,554 | €2,545 | -€9 | -0.3% |
| Non-recurring financial charges | 66B | - | €63 | +€63 | |
| Profit (loss) for the period before taxes | 9903 | -€865 | -€1,393 | -€528 | -61.0% |
| Profit (loss) for the period | 9904 | -€865 | -€1,393 | -€528 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€865 | -€1,393 | -€528 | -61.0% |
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 22 October 2026 via checked.be.