IMMO TOPAZE: 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.
IMMO TOPAZE
Largest movements
- Cash -€112,042
down €112,042 (-49.9%), from €224,424 to €112,382
mainly Investment in fixed assets (net) (-€103,544) and Contributions, distributions and other (-€60,000)
- Tangible fixed assets +€72,720
up €72,720 (+34.4%), from €211,405 to €284,125
of which Land and buildings: +€96,608
- Reserves -€60,000
down €60,000 (-23.3%), from €257,860 to €197,860
of which Distributable reserves: -€58,140
- Other debts +€40,015
up €40,015 (+17,784%), from €225 to €40,240
- Debts after one year -€26,392
down €26,392 (-25.4%), from €103,951 to €77,559
- Other operating charges +€14,167
up €14,167 (+266%), from €5,330 to €19,497
- Gross operating margin -€9,903
down €9,903 (-10.6%), from €93,120 to €83,217
- Taxes +€8,535
up €8,535 (+49.3%), from €17,322 to €25,857
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 | €441,709 | €401,519 | -€40,190 | -9.1% |
| Fixed assets | 21/28 | €212,125 | €284,215 | +€72,090 | +34.0% |
| Intangible fixed assets | 21 | €630 | - | -€630 | |
| Tangible fixed assets | 22/27 | €211,405 | €284,125 | +€72,720 | +34.4% |
| Land and buildings | 22 | €133,425 | €230,033 | +€96,608 | +72.4% |
| Plant, machinery and equipment | 23 | - | €2,118 | +€2,118 | |
| Furniture and vehicles | 24 | €77,980 | €51,974 | -€26,006 | -33.3% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €229,584 | €117,304 | -€112,280 | -48.9% |
| Amounts receivable within one year | 40/41 | €4,395 | €4,922 | +€527 | +12.0% |
| Trade receivables | 40 | €1,263 | €1,788 | +€525 | +41.6% |
| Other amounts receivable | 41 | €3,132 | €3,134 | +€2 | +0.1% |
| Cash at bank and in hand | 54/58 | €224,424 | €112,382 | -€112,042 | -49.9% |
| Deferred charges and accrued income | 490/1 | €765 | - | -€765 | |
| Total equity and liabilities | 10/49 | €441,709 | €401,519 | -€40,190 | -9.1% |
| Equity | 10/15 | €305,525 | €248,805 | -€56,720 | -18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €257,860 | €197,860 | -€60,000 | -23.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €256,000 | €197,860 | -€58,140 | -22.7% |
| Profit (loss) carried forward | 14 | €29,065 | €32,345 | +€3,280 | +11.3% |
| Amounts payable | 17/49 | €136,184 | €152,714 | +€16,530 | +12.1% |
| Amounts payable after more than one year | 17 | €103,951 | €77,559 | -€26,392 | -25.4% |
| Financial debts | 170/4 | €103,951 | €77,559 | -€26,392 | -25.4% |
| Amounts payable within one year | 42/48 | €32,233 | €75,155 | +€42,922 | +133% |
| Current portion of amounts payable after more than one year | 42 | €30,324 | €28,722 | -€1,602 | -5.3% |
| Trade debts | 44 | €388 | €665 | +€277 | +71.4% |
| Suppliers | 440/4 | €388 | €665 | +€277 | +71.4% |
| Taxes, remuneration and social security | 45 | €1,296 | €5,528 | +€4,232 | +327% |
| Taxes | 450/3 | €1,296 | €5,528 | +€4,232 | +327% |
| Other amounts payable | 47/48 | €225 | €40,240 | +€40,015 | +17,784% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,456 | €31,454 | -€2 | 0.0% |
| Other operating charges | 640/8 | €5,330 | €19,497 | +€14,167 | +266% |
| Non-recurring operating charges | 66A | - | €783 | +€783 | |
| Gross operating margin | 9900 | €93,120 | €83,217 | -€9,903 | -10.6% |
| Operating profit (loss) | 9901 | €56,334 | €31,483 | -€24,851 | -44.1% |
| Financial income | 75/76B | €820 | €889 | +€69 | +8.4% |
| Recurring financial income | 75 | €820 | €889 | +€69 | +8.4% |
| Financial charges | 65/66B | €3,682 | €3,235 | -€447 | -12.1% |
| Recurring financial charges | 65 | €3,682 | €3,235 | -€447 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €53,472 | €29,137 | -€24,335 | -45.5% |
| Income taxes | 67/77 | €17,322 | €25,857 | +€8,535 | +49.3% |
| Profit (loss) for the period | 9904 | €36,150 | €3,280 | -€32,870 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,150 | €3,280 | -€32,870 | -90.9% |
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 16 October 2026 via checked.be.