TOP'S: 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'S
Largest movements
- Cash -€11,671
down €11,671 (-10.8%), from €107,569 to €95,898
mainly Tax, wage and social debts (-€5,484) and Net result for the year (-€4,320)
- Tangible fixed assets -€1,640
down €1,640 (-52.2%), from €3,141 to €1,500
of which Plant, machinery and equipment: -€834
- Receivables within one year -€1,564
down €1,564 (-31.8%), from €4,919 to €3,355
of which Trade receivables: -€1,168
- Tax, wage and social debts -€5,484
down €5,484 (-41.7%), from €13,146 to €7,663
of which Taxes: -€6,518
- Profit (loss) carried forward -€4,320
down €4,320 (-12.1%), from €35,713 to €31,393
- Other debts -€4,128
down €4,128 (-29.6%), from €13,934 to €9,806
- Gross operating margin -€44,521
down €44,521 (-64.5%), from €68,972 to €24,451
- Staff costs -€27,162
down €27,162 (-62.4%), from €43,533 to €16,371
- Other operating charges +€979
up €979 (+252.8%), from €387 to €1,366
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 | €123,016 | €109,255 | -€13,761 | -11.2% |
| Fixed assets | 21/28 | €3,165 | €1,524 | -€1,640 | -51.8% |
| Tangible fixed assets | 22/27 | €3,141 | €1,500 | -€1,640 | -52.2% |
| Plant, machinery and equipment | 23 | €989 | €156 | -€834 | -84.3% |
| Other tangible fixed assets | 26 | €2,152 | €1,345 | -€807 | -37.5% |
| Financial fixed assets | 28 | €24 | €24 | = | 0.0% |
| Current assets | 29/58 | €119,851 | €107,731 | -€12,121 | -10.1% |
| Stocks and contracts in progress | 3 | €7,291 | €7,291 | = | 0.0% |
| Stocks | 30/36 | €7,291 | €7,291 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,919 | €3,355 | -€1,564 | -31.8% |
| Trade receivables | 40 | €1,325 | €156 | -€1,168 | -88.2% |
| Other amounts receivable | 41 | €3,594 | €3,199 | -€396 | -11.0% |
| Cash at bank and in hand | 54/58 | €107,569 | €95,898 | -€11,671 | -10.8% |
| Deferred charges and accrued income | 490/1 | €72 | €1,186 | +€1,114 | +1549.1% |
| Total equity and liabilities | 10/49 | €123,016 | €109,255 | -€13,761 | -11.2% |
| Equity | 10/15 | €93,068 | €88,748 | -€4,320 | -4.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €47,355 | €47,355 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €45,500 | €45,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,713 | €31,393 | -€4,320 | -12.1% |
| Amounts payable | 17/49 | €29,948 | €20,507 | -€9,441 | -31.5% |
| Amounts payable within one year | 42/48 | €29,948 | €20,507 | -€9,441 | -31.5% |
| Trade debts | 44 | €2,868 | €3,038 | +€170 | +5.9% |
| Suppliers | 440/4 | €2,868 | €3,038 | +€170 | +5.9% |
| Taxes, remuneration and social security | 45 | €13,146 | €7,663 | -€5,484 | -41.7% |
| Taxes | 450/3 | €13,146 | €6,628 | -€6,518 | -49.6% |
| Remuneration and social security | 454/9 | - | €1,034 | +€1,034 | |
| Other amounts payable | 47/48 | €13,934 | €9,806 | -€4,128 | -29.6% |
| Remuneration, social security and pensions | 62 | €43,533 | €16,371 | -€27,162 | -62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,640 | €1,640 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €1,366 | +€979 | +252.8% |
| Non-recurring operating charges | 66A | - | €4,293 | +€4,293 | |
| Gross operating margin | 9900 | €68,972 | €24,451 | -€44,521 | -64.5% |
| Operating profit (loss) | 9901 | €23,412 | €780 | -€22,632 | -96.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -85.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -85.7% |
| Financial charges | 65/66B | €656 | €458 | -€197 | -30.1% |
| Recurring financial charges | 65 | €656 | €458 | -€197 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €22,756 | €322 | -€22,435 | -98.6% |
| Income taxes | 67/77 | €4,750 | €4,642 | -€108 | -2.3% |
| Profit (loss) for the period | 9904 | €18,006 | -€4,320 | -€22,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,006 | -€4,320 | -€22,327 |
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.