JD 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.
JD TOPO
Largest movements
- Tangible fixed assets +€5,896
up €5,896 (+44.5%), from €13,246 to €19,142
of which Plant, machinery and equipment: +€7,711
- Cash -€3,193
down €3,193 (-64.7%), from €4,933 to €1,740
mainly Investment in fixed assets (net) (-€9,999) and Net result for the year (-€8,824)
- Receivables within one year +€3,152
up €3,152 (+103.4%), from €3,049 to €6,201
- Deferred charges and accrued income -€1,210
down €1,210 (-44.2%), from €2,740 to €1,530
- Other debts +€17,927
up €17,927 (+104.3%), from €17,187 to €35,114
- Profit (loss) carried forward -€8,824
down €8,824 (-32.0%), from -€27,587 to -€36,410
- Tax, wage and social debts -€4,710
down €4,710 (-55.3%), from €8,522 to €3,812
- Gross operating margin +€18,066
up €18,066 (+88.2%), from -€20,487 to -€2,422
- Other operating charges -€1,319
down €1,319 (-40.6%), from €3,251 to €1,933
- Depreciation +€940
up €940 (+29.7%), from €3,162 to €4,103
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 | €23,967 | €28,613 | +€4,645 | +19.4% |
| Fixed assets | 21/28 | €13,246 | €19,142 | +€5,896 | +44.5% |
| Tangible fixed assets | 22/27 | €13,246 | €19,142 | +€5,896 | +44.5% |
| Plant, machinery and equipment | 23 | €2,814 | €10,525 | +€7,711 | +274.0% |
| Furniture and vehicles | 24 | €946 | €280 | -€666 | -70.4% |
| Other tangible fixed assets | 26 | €9,486 | €8,337 | -€1,149 | -12.1% |
| Current assets | 29/58 | €10,722 | €9,471 | -€1,251 | -11.7% |
| Amounts receivable within one year | 40/41 | €3,049 | €6,201 | +€3,152 | +103.4% |
| Trade receivables | 40 | €3,049 | €6,201 | +€3,152 | +103.4% |
| Cash at bank and in hand | 54/58 | €4,933 | €1,740 | -€3,193 | -64.7% |
| Deferred charges and accrued income | 490/1 | €2,740 | €1,530 | -€1,210 | -44.2% |
| Total equity and liabilities | 10/49 | €23,967 | €28,613 | +€4,645 | +19.4% |
| Equity | 10/15 | -€6,587 | -€15,410 | -€8,824 | -134.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,587 | -€36,410 | -€8,824 | -32.0% |
| Amounts payable | 17/49 | €30,554 | €44,023 | +€13,469 | +44.1% |
| Amounts payable within one year | 42/48 | €30,554 | €44,023 | +€13,469 | +44.1% |
| Trade debts | 44 | €4,845 | €5,097 | +€252 | +5.2% |
| Suppliers | 440/4 | €4,845 | €5,097 | +€252 | +5.2% |
| Taxes, remuneration and social security | 45 | €8,522 | €3,812 | -€4,710 | -55.3% |
| Taxes | 450/3 | €8,522 | €3,812 | -€4,710 | -55.3% |
| Other amounts payable | 47/48 | €17,187 | €35,114 | +€17,927 | +104.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,162 | €4,103 | +€940 | +29.7% |
| Other operating charges | 640/8 | €3,251 | €1,933 | -€1,319 | -40.6% |
| Gross operating margin | 9900 | -€20,487 | -€2,422 | +€18,066 | +88.2% |
| Operating profit (loss) | 9901 | -€26,901 | -€8,457 | +€18,444 | +68.6% |
| Financial income | 75/76B | €35 | €24 | -€11 | -30.8% |
| Recurring financial income | 75 | €35 | €24 | -€11 | -30.8% |
| Financial charges | 65/66B | €154 | €245 | +€90 | +58.3% |
| Recurring financial charges | 65 | €154 | €245 | +€90 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | -€27,020 | -€8,677 | +€18,343 | +67.9% |
| Income taxes | 67/77 | €156 | €146 | -€10 | -6.2% |
| Profit (loss) for the period | 9904 | -€27,177 | -€8,824 | +€18,353 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,177 | -€8,824 | +€18,353 | +67.5% |
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 4 October 2026 via checked.be.