TOP MANAGEMENT SERVICES: what changed
TOP MANAGEMENT SERVICES
Largest movements
- Cash -€14,184
down €14,184 (-57.2%), from €24,802 to €10,619
mainly Other debts (-€16,076) and Investment in fixed assets (net) (-€11,484)
- Tangible fixed assets -€9,751
down €9,751 (-2.7%), from €367,459 to €357,708
of which Land and buildings: -€10,874
- Other debts -€16,076
down €16,076 (-20.9%), from €76,913 to €60,837
- Debts after one year -€4,098
down €4,098 (-7.6%), from €53,716 to €49,618
- Gross operating margin +€2,156
up €2,156 (+8.6%), from €24,988 to €27,144
- Depreciation +€1,703
up €1,703 (+8.7%), from €19,532 to €21,235
- Financial charges +€1,089
up €1,089 (+144%), from €756 to €1,844
- Taxes -€537
down €537 (-79.7%), from €674 to €137
- Other operating charges +€495
up €495 (+15.1%), from €3,274 to €3,769
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,888 | €379,964 | -€19,923 | -5.0% |
| Fixed assets | 21/28 | €367,459 | €357,708 | -€9,751 | -2.7% |
| Tangible fixed assets | 22/27 | €367,459 | €357,708 | -€9,751 | -2.7% |
| Land and buildings | 22 | €356,959 | €346,084 | -€10,874 | -3.0% |
| Furniture and vehicles | 24 | €10,500 | €11,623 | +€1,123 | +10.7% |
| Current assets | 29/58 | €32,429 | €22,256 | -€10,173 | -31.4% |
| Amounts receivable within one year | 40/41 | €150 | €600 | +€450 | +300% |
| Trade receivables | 40 | €150 | €600 | +€450 | +300% |
| Current investments | 50/53 | €7,477 | €11,038 | +€3,561 | +47.6% |
| Cash at bank and in hand | 54/58 | €24,802 | €10,619 | -€14,184 | -57.2% |
| Total equity and liabilities | 10/49 | €399,888 | €379,964 | -€19,923 | -5.0% |
| Equity | 10/15 | €263,539 | €263,878 | +€339 | +0.1% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €43,539 | €43,878 | +€339 | +0.8% |
| Distributable reserves | 133 | €43,539 | €43,878 | +€339 | +0.8% |
| Amounts payable | 17/49 | €136,348 | €116,086 | -€20,262 | -14.9% |
| Amounts payable after more than one year | 17 | €53,716 | €49,618 | -€4,098 | -7.6% |
| Financial debts | 170/4 | €53,716 | €49,618 | -€4,098 | -7.6% |
| Amounts payable within one year | 42/48 | €82,632 | €66,468 | -€16,164 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €5,021 | €4,609 | -€412 | -8.2% |
| Trade debts | 44 | €135 | €358 | +€224 | +166% |
| Suppliers | 440/4 | €135 | €358 | +€224 | +166% |
| Taxes, remuneration and social security | 45 | €563 | €663 | +€100 | +17.9% |
| Taxes | 450/3 | €563 | €663 | +€100 | +17.9% |
| Other amounts payable | 47/48 | €76,913 | €60,837 | -€16,076 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,532 | €21,235 | +€1,703 | +8.7% |
| Other operating charges | 640/8 | €3,274 | €3,769 | +€495 | +15.1% |
| Gross operating margin | 9900 | €24,988 | €27,144 | +€2,156 | +8.6% |
| Operating profit (loss) | 9901 | €2,182 | €2,140 | -€42 | -1.9% |
| Financial income | 75/76B | €400 | €180 | -€219 | -54.9% |
| Recurring financial income | 75 | €400 | €180 | -€219 | -54.9% |
| Financial charges | 65/66B | €756 | €1,844 | +€1,089 | +144% |
| Recurring financial charges | 65 | €756 | €1,844 | +€1,089 | +144% |
| Profit (loss) for the period before taxes | 9903 | €1,826 | €476 | -€1,351 | -73.9% |
| Income taxes | 67/77 | €674 | €137 | -€537 | -79.7% |
| Profit (loss) for the period | 9904 | €1,153 | €339 | -€814 | -70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,153 | €339 | -€814 | -70.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.