TOP PARTNER: what changed
Two fiscal 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 PARTNER
Largest movements
- Cash +€84,729
up €84,729 (+54.3%), from €156,179 to €240,908
mainly Net result for the year (+€174,815) and Trade debts (+€39,116)
- Receivables within one year +€27,400
up €27,400 (+1525.4%), from €1,796 to €29,196
of which Trade receivables: +€14,047
- Current investments -€11,086
down €11,086 (-4.7%), from €236,381 to €225,295
- Reserves +€64,234
up €64,234 (+9.2%), from €701,418 to €765,652
- Trade debts +€39,116
up €39,116 (+2011.1%), from €1,945 to €41,061
- Tax, wage and social debts +€23,160
up €23,160 (+101.4%), from €22,834 to €45,994
- Other debts -€20,092
no longer reported in 2025 (was €20,092)
- Gross operating margin +€18,237
up €18,237 (+7.1%), from €258,264 to €276,501
- Taxes +€8,373
up €8,373 (+11.3%), from €74,160 to €82,532
- Financial income +€5,004
up €5,004 (+27.7%), from €18,034 to €23,039
- Depreciation -€4,343
down €4,343 (-11.0%), from €39,390 to €35,047
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 | €884,429 | €990,848 | +€106,419 | +12.0% |
| Fixed assets | 21/28 | €488,098 | €493,121 | +€5,023 | +1.0% |
| Tangible fixed assets | 22/27 | €488,073 | €493,096 | +€5,023 | +1.0% |
| Land and buildings | 22 | €355,882 | €344,951 | -€10,931 | -3.1% |
| Furniture and vehicles | 24 | €9,842 | €46,827 | +€36,985 | +375.8% |
| Other tangible fixed assets | 26 | €122,349 | €101,318 | -€21,031 | -17.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €396,331 | €497,726 | +€101,395 | +25.6% |
| Amounts receivable within one year | 40/41 | €1,796 | €29,196 | +€27,400 | +1525.4% |
| Trade receivables | 40 | €1,796 | €15,843 | +€14,047 | +782.0% |
| Other amounts receivable | 41 | - | €13,353 | +€13,353 | |
| Current investments | 50/53 | €236,381 | €225,295 | -€11,086 | -4.7% |
| Cash at bank and in hand | 54/58 | €156,179 | €240,908 | +€84,729 | +54.3% |
| Deferred charges and accrued income | 490/1 | €1,974 | €2,327 | +€353 | +17.9% |
| Total equity and liabilities | 10/49 | €884,429 | €990,848 | +€106,419 | +12.0% |
| Equity | 10/15 | €839,558 | €903,793 | +€64,234 | +7.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €701,418 | €765,652 | +€64,234 | +9.2% |
| Distributable reserves | 133 | €701,418 | €765,652 | +€64,234 | +9.2% |
| Profit (loss) carried forward | 14 | €130,081 | €130,081 | = | 0.0% |
| Amounts payable | 17/49 | €44,870 | €87,055 | +€42,185 | +94.0% |
| Amounts payable within one year | 42/48 | €44,870 | €87,055 | +€42,185 | +94.0% |
| Trade debts | 44 | €1,945 | €41,061 | +€39,116 | +2011.1% |
| Suppliers | 440/4 | €1,945 | €41,061 | +€39,116 | +2011.1% |
| Taxes, remuneration and social security | 45 | €22,834 | €45,994 | +€23,160 | +101.4% |
| Taxes | 450/3 | €22,834 | €45,994 | +€23,160 | +101.4% |
| Other amounts payable | 47/48 | €20,092 | - | -€20,092 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,390 | €35,047 | -€4,343 | -11.0% |
| Other operating charges | 640/8 | €2,785 | €3,123 | +€338 | +12.1% |
| Gross operating margin | 9900 | €258,264 | €276,501 | +€18,237 | +7.1% |
| Operating profit (loss) | 9901 | €216,088 | €238,332 | +€22,243 | +10.3% |
| Financial income | 75/76B | €18,034 | €23,039 | +€5,004 | +27.7% |
| Recurring financial income | 75 | €18,034 | €23,039 | +€5,004 | +27.7% |
| Financial charges | 65/66B | €3,986 | €4,023 | +€37 | +0.9% |
| Recurring financial charges | 65 | €3,986 | €4,023 | +€37 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €230,137 | €257,347 | +€27,211 | +11.8% |
| Income taxes | 67/77 | €74,160 | €82,532 | +€8,373 | +11.3% |
| Profit (loss) for the period | 9904 | €155,977 | €174,815 | +€18,838 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €155,977 | €174,815 | +€18,838 | +12.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.