TOP-CAR: 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.
TOP-CAR
Largest movements
- Tangible fixed assets +€297,554
up €297,554 (+195%), from €152,684 to €450,238
of which Land and buildings: +€284,989
- Cash -€102,123
down €102,123 (-33.6%), from €304,031 to €201,908
mainly Investment in fixed assets (net) (-€385,443) and Other debts (-€111,161)
- Current investments -€37,416
down €37,416 (-5.7%), from €654,987 to €617,571
- Reserves +€149,098
up €149,098 (+18.5%), from €807,085 to €956,183
of which Distributable reserves: +€149,098
- Debts after one year +€117,413
up €117,413 (+230%), from €51,123 to €168,536
- Other debts -€111,161
down €111,161 (-99.2%), from €112,098 to €938
- Current portion of long-term debt +€34,053
up €34,053 (+108%), from €31,569 to €65,622
- Depreciation +€20,961
up €20,961 (+31.3%), from €66,928 to €87,889
- Taxes -€9,876
down €9,876 (-15.3%), from €64,556 to €54,680
- Financial income +€4,614
up €4,614 (+19.5%), from €23,620 to €28,234
- Gross operating margin -€3,581
down €3,581 (-1.3%), from €276,183 to €272,602
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 | €1,167,633 | €1,338,683 | +€171,050 | +14.6% |
| Fixed assets | 21/28 | €157,679 | €455,233 | +€297,554 | +189% |
| Tangible fixed assets | 22/27 | €152,684 | €450,238 | +€297,554 | +195% |
| Land and buildings | 22 | €40,374 | €325,363 | +€284,989 | +706% |
| Plant, machinery and equipment | 23 | €7,483 | €5,615 | -€1,867 | -25.0% |
| Furniture and vehicles | 24 | €104,827 | €74,734 | -€30,094 | -28.7% |
| Leasing and similar rights | 25 | - | €44,526 | +€44,526 | |
| Financial fixed assets | 28 | €4,995 | €4,995 | = | 0.0% |
| Current assets | 29/58 | €1,009,954 | €883,450 | -€126,504 | -12.5% |
| Amounts receivable within one year | 40/41 | €33,746 | €44,793 | +€11,047 | +32.7% |
| Trade receivables | 40 | €33,746 | €28,438 | -€5,308 | -15.7% |
| Other amounts receivable | 41 | - | €16,355 | +€16,355 | |
| Current investments | 50/53 | €654,987 | €617,571 | -€37,416 | -5.7% |
| Cash at bank and in hand | 54/58 | €304,031 | €201,908 | -€102,123 | -33.6% |
| Deferred charges and accrued income | 490/1 | €17,190 | €19,178 | +€1,988 | +11.6% |
| Total equity and liabilities | 10/49 | €1,167,633 | €1,338,683 | +€171,050 | +14.6% |
| Equity | 10/15 | €825,685 | €974,783 | +€149,098 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €807,085 | €956,183 | +€149,098 | +18.5% |
| Tax-exempt reserves | 132 | €62,000 | €62,000 | = | 0.0% |
| Distributable reserves | 133 | €745,085 | €894,183 | +€149,098 | +20.0% |
| Amounts payable | 17/49 | €341,948 | €363,900 | +€21,952 | +6.4% |
| Amounts payable after more than one year | 17 | €51,123 | €168,536 | +€117,413 | +230% |
| Financial debts | 170/4 | €51,123 | €168,536 | +€117,413 | +230% |
| Amounts payable within one year | 42/48 | €187,985 | €105,115 | -€82,870 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €31,569 | €65,622 | +€34,053 | +108% |
| Trade debts | 44 | €18,943 | €11,360 | -€7,583 | -40.0% |
| Suppliers | 440/4 | €18,943 | €11,360 | -€7,583 | -40.0% |
| Taxes, remuneration and social security | 45 | €25,375 | €27,195 | +€1,820 | +7.2% |
| Taxes | 450/3 | €21,375 | €25,195 | +€3,820 | +17.9% |
| Remuneration and social security | 454/9 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Other amounts payable | 47/48 | €112,098 | €938 | -€111,161 | -99.2% |
| Accrued charges and deferred income | 492/3 | €102,840 | €90,250 | -€12,591 | -12.2% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,928 | €87,889 | +€20,961 | +31.3% |
| Other operating charges | 640/8 | €2,754 | €2,866 | +€112 | +4.1% |
| Non-recurring operating charges | 66A | - | €3,107 | +€3,107 | |
| Gross operating margin | 9900 | €276,183 | €272,602 | -€3,581 | -1.3% |
| Operating profit (loss) | 9901 | €206,501 | €178,740 | -€27,761 | -13.4% |
| Financial income | 75/76B | €23,620 | €28,234 | +€4,614 | +19.5% |
| Recurring financial income | 75 | €23,620 | €28,234 | +€4,614 | +19.5% |
| Financial charges | 65/66B | €2,379 | €3,196 | +€816 | +34.3% |
| Recurring financial charges | 65 | €2,379 | €3,196 | +€816 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €227,741 | €203,778 | -€23,963 | -10.5% |
| Income taxes | 67/77 | €64,556 | €54,680 | -€9,876 | -15.3% |
| Profit (loss) for the period | 9904 | €163,186 | €149,098 | -€14,087 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €163,186 | €149,098 | -€14,087 | -8.6% |
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 18 October 2026 via checked.be.