P.TOPS: 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.
P.TOPS
Largest movements
- Tangible fixed assets +€31,697
up €31,697 (+1,074%), from €2,951 to €34,647
of which Furniture and vehicles: +€32,889
- Cash -€24,065
down €24,065 (-38.1%), from €63,163 to €39,098
mainly Investment in fixed assets (net) (-€37,609) and Contributions, distributions and other (-€11,496)
- Receivables within one year +€1,083
up €1,083 (+10.4%), from €10,387 to €11,470
of which Trade receivables: +€3,961
- Reserves +€7,517
up €7,517 (+12.8%), from €58,926 to €66,443
- Gross operating margin +€29,057
up €29,057 (+621%), from €4,676 to €33,732
- Taxes +€7,586
up €7,586 (+5,376%), from €141 to €7,727
- Depreciation +€2,410
up €2,410 (+68.8%), from €3,503 to €5,913
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 | €77,920 | €86,605 | +€8,685 | +11.1% |
| Fixed assets | 21/28 | €2,951 | €34,647 | +€31,697 | +1,074% |
| Tangible fixed assets | 22/27 | €2,951 | €34,647 | +€31,697 | +1,074% |
| Plant, machinery and equipment | 23 | €2,951 | €1,758 | -€1,193 | -40.4% |
| Furniture and vehicles | 24 | - | €32,889 | +€32,889 | |
| Current assets | 29/58 | €74,969 | €51,958 | -€23,011 | -30.7% |
| Stocks and contracts in progress | 3 | €476 | - | -€476 | |
| Stocks | 30/36 | €476 | - | -€476 | |
| Amounts receivable within one year | 40/41 | €10,387 | €11,470 | +€1,083 | +10.4% |
| Trade receivables | 40 | €3,858 | €7,819 | +€3,961 | +103% |
| Other amounts receivable | 41 | €6,529 | €3,651 | -€2,878 | -44.1% |
| Cash at bank and in hand | 54/58 | €63,163 | €39,098 | -€24,065 | -38.1% |
| Deferred charges and accrued income | 490/1 | €944 | €1,390 | +€446 | +47.3% |
| Total equity and liabilities | 10/49 | €77,920 | €86,605 | +€8,685 | +11.1% |
| Equity | 10/15 | €77,526 | €85,043 | +€7,517 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,926 | €66,443 | +€7,517 | +12.8% |
| Distributable reserves | 133 | €58,926 | €66,443 | +€7,517 | +12.8% |
| Amounts payable | 17/49 | €394 | €1,562 | +€1,168 | +297% |
| Amounts payable within one year | 42/48 | €394 | €1,562 | +€1,168 | +297% |
| Trade debts | 44 | €253 | €1,101 | +€848 | +335% |
| Suppliers | 440/4 | €253 | €1,101 | +€848 | +335% |
| Taxes, remuneration and social security | 45 | €141 | - | -€141 | |
| Taxes | 450/3 | €141 | - | -€141 | |
| Other amounts payable | 47/48 | - | €461 | +€461 | |
| Non-recurring operating income | 76A | - | €13,000 | +€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,503 | €5,913 | +€2,410 | +68.8% |
| Other operating charges | 640/8 | €1,048 | €915 | -€133 | -12.7% |
| Gross operating margin | 9900 | €4,676 | €33,732 | +€29,057 | +621% |
| Operating profit (loss) | 9901 | €125 | €26,905 | +€26,780 | +21,436% |
| Financial income | 75/76B | €179 | - | -€179 | |
| Recurring financial income | 75 | €179 | - | -€179 | |
| Financial charges | 65/66B | €126 | €165 | +€39 | +30.9% |
| Recurring financial charges | 65 | €126 | €165 | +€39 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €178 | €26,740 | +€26,562 | +14,959% |
| Income taxes | 67/77 | €141 | €7,727 | +€7,586 | +5,376% |
| Profit (loss) for the period | 9904 | €36 | €19,013 | +€18,977 | +52,020% |
| Profit (loss) for the period to be appropriated | 9905 | €36 | €19,013 | +€18,977 | +52,020% |
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 17 October 2026 via checked.be.