IMMO TOPO: 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.
IMMO TOPO
Largest movements
- Cash +€19,340
up €19,340 (+23.9%), from €80,887 to €100,227
mainly Other debts (+€47,462) and Net result for the year (+€36,957)
- Tangible fixed assets -€14,619
down €14,619 (-8.4%), from €173,410 to €158,791
of which Land and buildings: -€10,791
- Receivables within one year +€11,141
new in 2025: €11,141
- Other debts +€47,462
up €47,462 (+2876.5%), from €1,650 to €49,112
- Reserves -€13,002
down €13,002 (-9.2%), from €141,960 to €128,957
of which Distributable reserves: -€13,002
- Trade debts -€10,148
no longer reported in 2025 (was €10,148)
- Tax, wage and social debts -€9,514
down €9,514 (-79.2%), from €12,012 to €2,498
- Gross operating margin -€62,400
down €62,400 (-46.5%), from €134,131 to €71,731
- Taxes -€13,153
down €13,153 (-48.7%), from €27,012 to €13,859
- Other operating charges -€5,875
down €5,875 (-47.5%), from €12,380 to €6,505
- Depreciation -€1,671
down €1,671 (-10.3%), from €16,291 to €14,619
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 | €254,634 | €270,507 | +€15,873 | +6.2% |
| Fixed assets | 21/28 | €173,410 | €158,791 | -€14,619 | -8.4% |
| Tangible fixed assets | 22/27 | €173,410 | €158,791 | -€14,619 | -8.4% |
| Land and buildings | 22 | €135,525 | €124,735 | -€10,791 | -8.0% |
| Other tangible fixed assets | 26 | €37,885 | €34,056 | -€3,829 | -10.1% |
| Current assets | 29/58 | €81,224 | €111,717 | +€30,492 | +37.5% |
| Amounts receivable within one year | 40/41 | - | €11,141 | +€11,141 | |
| Other amounts receivable | 41 | - | €11,141 | +€11,141 | |
| Cash at bank and in hand | 54/58 | €80,887 | €100,227 | +€19,340 | +23.9% |
| Deferred charges and accrued income | 490/1 | €338 | €349 | +€11 | +3.4% |
| Total equity and liabilities | 10/49 | €254,634 | €270,507 | +€15,873 | +6.2% |
| Equity | 10/15 | €229,825 | €216,823 | -€13,002 | -5.7% |
| Contributions | 10/11 | €1,317 | €1,317 | = | 0.0% |
| Reserves | 13 | €141,960 | €128,957 | -€13,002 | -9.2% |
| Non-distributable reserves | 130/1 | €132 | €132 | = | 0.0% |
| Reserves not available under the articles | 1311 | €132 | €132 | = | 0.0% |
| Tax-exempt reserves | 132 | €292 | €292 | = | 0.0% |
| Distributable reserves | 133 | €141,537 | €128,534 | -€13,002 | -9.2% |
| Profit (loss) carried forward | 14 | €86,548 | €86,548 | = | 0.0% |
| Amounts payable | 17/49 | €24,810 | €53,685 | +€28,875 | +116.4% |
| Amounts payable within one year | 42/48 | €23,810 | €51,610 | +€27,800 | +116.8% |
| Trade debts | 44 | €10,148 | - | -€10,148 | |
| Suppliers | 440/4 | €10,148 | - | -€10,148 | |
| Taxes, remuneration and social security | 45 | €12,012 | €2,498 | -€9,514 | -79.2% |
| Taxes | 450/3 | €12,012 | €2,498 | -€9,514 | -79.2% |
| Other amounts payable | 47/48 | €1,650 | €49,112 | +€47,462 | +2876.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €2,075 | +€1,075 | +107.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,291 | €14,619 | -€1,671 | -10.3% |
| Other operating charges | 640/8 | €12,380 | €6,505 | -€5,875 | -47.5% |
| Gross operating margin | 9900 | €134,131 | €71,731 | -€62,400 | -46.5% |
| Operating profit (loss) | 9901 | €105,460 | €50,606 | -€54,854 | -52.0% |
| Financial income | 75/76B | - | €363 | +€363 | |
| Recurring financial income | 75 | - | €363 | +€363 | |
| Financial charges | 65/66B | €38 | €153 | +€115 | +298.8% |
| Recurring financial charges | 65 | €38 | €153 | +€115 | +298.8% |
| Profit (loss) for the period before taxes | 9903 | €105,422 | €50,816 | -€54,605 | -51.8% |
| Income taxes | 67/77 | €27,012 | €13,859 | -€13,153 | -48.7% |
| Profit (loss) for the period | 9904 | €78,410 | €36,957 | -€41,452 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,410 | €36,957 | -€41,452 | -52.9% |
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 2 October 2026 via checked.be.