TOP ON WEB: 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 ON WEB
Largest movements
- Current investments -€350,000
down €350,000 (-100.0%), from €350,000 to €0
- Cash +€141,102
up €141,102 (+92.3%), from €152,823 to €293,925
mainly Current investments (+€350,000) and Net result for the year (+€287,580)
- Intangible fixed assets +€62,071
up €62,071 (+155.1%), from €40,028 to €102,099
- Receivables within one year +€47,825
up €47,825 (+23.8%), from €201,287 to €249,112
of which Trade receivables: +€74,251
- Receivables after one year +€30,000
new in 2025: €30,000
- Other debts -€458,285
down €458,285 (-100.0%), from €458,285 to €0
- Profit (loss) carried forward +€287,580
up €287,580 (+1230.5%), from €23,372 to €310,952
- Current portion of long-term debt +€37,236
up €37,236 (+137.7%), from €27,041 to €64,277
- Trade debts +€23,038
up €23,038 (+21.7%), from €105,946 to €128,983
- Debts after one year +€19,437
up €19,437 (+28.8%), from €67,498 to €86,936
of which Other amounts payable: +€15,000
- Staff costs +€274,440
up €274,440 (+44.7%), from €614,448 to €888,888
- Gross operating margin +€133,538
up €133,538 (+10.2%), from €1.3m to €1.4m
- Depreciation +€44,246
up €44,246 (+57.8%), from €76,573 to €120,819
- Taxes -€40,925
down €40,925 (-24.7%), from €165,876 to €124,952
- Financial income -€24,951
down €24,951 (-78.3%), from €31,877 to €6,925
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 | €1,020,093 | €929,067 | -€91,026 | -8.9% |
| Fixed assets | 21/28 | €290,547 | €331,353 | +€40,806 | +14.0% |
| Intangible fixed assets | 21 | €40,028 | €102,099 | +€62,071 | +155.1% |
| Tangible fixed assets | 22/27 | €247,741 | €228,086 | -€19,655 | -7.9% |
| Land and buildings | 22 | €131,632 | €114,932 | -€16,700 | -12.7% |
| Plant, machinery and equipment | 23 | €14,577 | €15,049 | +€473 | +3.2% |
| Furniture and vehicles | 24 | €101,532 | €98,104 | -€3,428 | -3.4% |
| Financial fixed assets | 28 | €2,778 | €1,168 | -€1,610 | -58.0% |
| Current assets | 29/58 | €729,546 | €597,714 | -€131,832 | -18.1% |
| Amounts receivable after more than one year | 29 | - | €30,000 | +€30,000 | |
| Other amounts receivable | 291 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €201,287 | €249,112 | +€47,825 | +23.8% |
| Trade receivables | 40 | €130,082 | €204,332 | +€74,251 | +57.1% |
| Other amounts receivable | 41 | €71,206 | €44,780 | -€26,426 | -37.1% |
| Current investments | 50/53 | €350,000 | €0 | -€350,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €152,823 | €293,925 | +€141,102 | +92.3% |
| Deferred charges and accrued income | 490/1 | €25,436 | €24,677 | -€759 | -3.0% |
| Total equity and liabilities | 10/49 | €1,020,093 | €929,067 | -€91,026 | -8.9% |
| Equity | 10/15 | €104,322 | €390,269 | +€285,948 | +274.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Uncalled capital | 101 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,372 | €310,952 | +€287,580 | +1230.5% |
| Investment grants | 15 | €12,950 | €11,318 | -€1,632 | -12.6% |
| Amounts payable | 17/49 | €915,771 | €538,798 | -€376,973 | -41.2% |
| Amounts payable after more than one year | 17 | €67,498 | €86,936 | +€19,437 | +28.8% |
| Financial debts | 170/4 | €67,498 | €71,936 | +€4,437 | +6.6% |
| Other amounts payable | 178/9 | - | €15,000 | +€15,000 | |
| Amounts payable within one year | 42/48 | €790,300 | €387,286 | -€403,014 | -51.0% |
| Current portion of amounts payable after more than one year | 42 | €27,041 | €64,277 | +€37,236 | +137.7% |
| Trade debts | 44 | €105,946 | €128,983 | +€23,038 | +21.7% |
| Suppliers | 440/4 | €105,946 | €128,983 | +€23,038 | +21.7% |
| Advances received on contracts in progress | 46 | - | €2,500 | +€2,500 | |
| Taxes, remuneration and social security | 45 | €199,028 | €191,525 | -€7,503 | -3.8% |
| Taxes | 450/3 | €46,246 | €60,359 | +€14,113 | +30.5% |
| Remuneration and social security | 454/9 | €152,782 | €131,166 | -€21,616 | -14.1% |
| Other amounts payable | 47/48 | €458,285 | €0 | -€458,285 | -100.0% |
| Accrued charges and deferred income | 492/3 | €57,973 | €64,576 | +€6,603 | +11.4% |
| Remuneration, social security and pensions | 62 | €614,448 | €888,888 | +€274,440 | +44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,573 | €120,819 | +€44,246 | +57.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,634 | -€3,100 | -€4,734 | |
| Other operating charges | 640/8 | €21,221 | €28,704 | +€7,483 | +35.3% |
| Gross operating margin | 9900 | €1,313,285 | €1,446,823 | +€133,538 | +10.2% |
| Operating profit (loss) | 9901 | €599,409 | €411,512 | -€187,898 | -31.3% |
| Financial income | 75/76B | €31,877 | €6,925 | -€24,951 | -78.3% |
| Recurring financial income | 75 | €31,877 | €6,925 | -€24,951 | -78.3% |
| Financial charges | 65/66B | €4,057 | €5,905 | +€1,848 | +45.6% |
| Recurring financial charges | 65 | €4,057 | €5,905 | +€1,848 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | €627,229 | €412,532 | -€214,697 | -34.2% |
| Income taxes | 67/77 | €165,876 | €124,952 | -€40,925 | -24.7% |
| Profit (loss) for the period | 9904 | €461,352 | €287,580 | -€173,772 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €461,352 | €287,580 | -€173,772 | -37.7% |
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 11 October 2026 via checked.be.