TOP-DECORTE: 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-DECORTE
Largest movements
- Receivables within one year +€193,428
up €193,428 (+636%), from €30,391 to €223,819
of which Trade receivables: +€185,937
- Tangible fixed assets +€52,904
up €52,904 (+26.6%), from €198,793 to €251,697
of which Furniture and vehicles: +€59,633
- Deferred charges and accrued income -€15,501
down €15,501 (-84.0%), from €18,451 to €2,949
- Trade debts +€168,231
up €168,231 (+3,044%), from €5,527 to €173,759
- Other debts +€84,880
up €84,880 (+70,881%), from €120 to €85,000
- Profit (loss) carried forward -€37,499
down €37,499 (-20.1%), from €186,966 to €149,467
- Debts after one year +€33,572
up €33,572 (+34.8%), from €96,595 to €130,166
- Current portion of long-term debt -€14,857
down €14,857 (-33.9%), from €43,857 to €29,000
- Depreciation -€45,201
down €45,201 (-78.8%), from €57,342 to €12,141
- Gross operating margin -€23,034
down €23,034 (-21.1%), from €109,060 to €86,026
- Financial charges -€10,244
down €10,244, from €8,755 to -€1,489
- Taxes +€1,788
up €1,788 (+18.2%), from €9,815 to €11,603
- Financial income +€1,123
up €1,123 (+36,227%), from €3 to €1,126
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 | €367,759 | €598,309 | +€230,550 | +62.7% |
| Fixed assets | 21/28 | €198,793 | €251,697 | +€52,904 | +26.6% |
| Tangible fixed assets | 22/27 | €198,793 | €251,697 | +€52,904 | +26.6% |
| Land and buildings | 22 | €62,975 | €58,131 | -€4,844 | -7.7% |
| Plant, machinery and equipment | 23 | €2,375 | €1,105 | -€1,269 | -53.5% |
| Furniture and vehicles | 24 | €108,806 | €168,439 | +€59,633 | +54.8% |
| Other tangible fixed assets | 26 | €24,637 | €24,022 | -€615 | -2.5% |
| Current assets | 29/58 | €168,966 | €346,612 | +€177,645 | +105% |
| Amounts receivable within one year | 40/41 | €30,391 | €223,819 | +€193,428 | +636% |
| Trade receivables | 40 | €28,803 | €214,740 | +€185,937 | +646% |
| Other amounts receivable | 41 | €1,588 | €9,079 | +€7,491 | +472% |
| Current investments | 50/53 | €24,713 | €29,387 | +€4,674 | +18.9% |
| Cash at bank and in hand | 54/58 | €95,411 | €90,456 | -€4,956 | -5.2% |
| Deferred charges and accrued income | 490/1 | €18,451 | €2,949 | -€15,501 | -84.0% |
| Total equity and liabilities | 10/49 | €367,759 | €598,309 | +€230,550 | +62.7% |
| Equity | 10/15 | €207,426 | €169,927 | -€37,499 | -18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,966 | €149,467 | -€37,499 | -20.1% |
| Amounts payable | 17/49 | €160,334 | €428,382 | +€268,048 | +167% |
| Amounts payable after more than one year | 17 | €96,595 | €130,166 | +€33,572 | +34.8% |
| Financial debts | 170/4 | €96,595 | €130,166 | +€33,572 | +34.8% |
| Amounts payable within one year | 42/48 | €63,739 | €298,216 | +€234,477 | +368% |
| Current portion of amounts payable after more than one year | 42 | €43,857 | €29,000 | -€14,857 | -33.9% |
| Trade debts | 44 | €5,527 | €173,759 | +€168,231 | +3,044% |
| Suppliers | 440/4 | €5,527 | €173,759 | +€168,231 | +3,044% |
| Taxes, remuneration and social security | 45 | €14,235 | €10,457 | -€3,778 | -26.5% |
| Taxes | 450/3 | €11,220 | €7,197 | -€4,023 | -35.9% |
| Remuneration and social security | 454/9 | €3,015 | €3,260 | +€245 | +8.1% |
| Other amounts payable | 47/48 | €120 | €85,000 | +€84,880 | +70,881% |
| Non-recurring operating income | 76A | - | €69,591 | +€69,591 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,342 | €12,141 | -€45,201 | -78.8% |
| Other operating charges | 640/8 | €3,101 | €2,396 | -€705 | -22.7% |
| Gross operating margin | 9900 | €109,060 | €86,026 | -€23,034 | -21.1% |
| Operating profit (loss) | 9901 | €48,617 | €71,488 | +€22,872 | +47.0% |
| Financial income | 75/76B | €3 | €1,126 | +€1,123 | +36,227% |
| Recurring financial income | 75 | €3 | €1,126 | +€1,123 | +36,227% |
| Financial charges | 65/66B | €8,755 | -€1,489 | -€10,244 | |
| Recurring financial charges | 65 | €8,755 | -€1,489 | -€10,244 | |
| Profit (loss) for the period before taxes | 9903 | €39,865 | €74,104 | +€34,239 | +85.9% |
| Income taxes | 67/77 | €9,815 | €11,603 | +€1,788 | +18.2% |
| Profit (loss) for the period | 9904 | €30,050 | €62,501 | +€32,451 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €30,050 | €62,501 | +€32,451 | +108% |
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 14 October 2026 via checked.be.