TWO TIMES TWO: 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 TIMES TWO
Largest movements
- Cash -€42,123
down €42,123 (-82.5%), from €51,068 to €8,944
mainly Net result for the year (-€51,283) and Trade debts (-€50,150)
- Other debts +€64,815
up €64,815 (+51.9%), from €124,768 to €189,583
- Profit (loss) carried forward -€51,283
down €51,283 (-53.8%), from -€95,307 to -€146,590
- Trade debts -€50,150
down €50,150 (-45.4%), from €110,576 to €60,426
- Financial charges -€5,837
down €5,837 (-11.5%), from €50,649 to €44,813
- Gross operating margin -€530
down €530 (-11.0%), from -€4,824 to -€5,354
- Other operating charges +€515
up €515 (+85.7%), from €601 to €1,116
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 | €1,499,852 | €1,464,547 | -€35,305 | -2.4% |
| Current assets | 29/58 | €1,499,852 | €1,464,547 | -€35,305 | -2.4% |
| Stocks and contracts in progress | 3 | €1,448,541 | €1,455,603 | +€7,061 | +0.5% |
| Stocks | 30/36 | €1,448,541 | €1,455,603 | +€7,061 | +0.5% |
| Cash at bank and in hand | 54/58 | €51,068 | €8,944 | -€42,123 | -82.5% |
| Deferred charges and accrued income | 490/1 | €243 | €0 | -€243 | -100.0% |
| Total equity and liabilities | 10/49 | €1,499,852 | €1,464,547 | -€35,305 | -2.4% |
| Equity | 10/15 | €154,693 | €103,410 | -€51,283 | -33.2% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,307 | -€146,590 | -€51,283 | -53.8% |
| Amounts payable | 17/49 | €1,345,159 | €1,361,137 | +€15,978 | +1.2% |
| Amounts payable within one year | 42/48 | €1,335,344 | €1,350,009 | +€14,665 | +1.1% |
| Financial debts | 43 | €1,100,000 | €1,100,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,100,000 | €1,100,000 | = | 0.0% |
| Trade debts | 44 | €110,576 | €60,426 | -€50,150 | -45.4% |
| Suppliers | 440/4 | €110,576 | €60,426 | -€50,150 | -45.4% |
| Other amounts payable | 47/48 | €124,768 | €189,583 | +€64,815 | +51.9% |
| Accrued charges and deferred income | 492/3 | €9,815 | €11,128 | +€1,313 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €601 | €1,116 | +€515 | +85.7% |
| Gross operating margin | 9900 | -€4,824 | -€5,354 | -€530 | -11.0% |
| Operating profit (loss) | 9901 | -€5,425 | -€6,470 | -€1,045 | -19.3% |
| Financial charges | 65/66B | €50,649 | €44,813 | -€5,837 | -11.5% |
| Recurring financial charges | 65 | €50,649 | €44,813 | -€5,837 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€56,074 | -€51,283 | +€4,791 | +8.5% |
| Profit (loss) for the period | 9904 | -€56,074 | -€51,283 | +€4,791 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,074 | -€51,283 | +€4,791 | +8.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.