TOP-SECURITY: 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-SECURITY
Largest movements
- Cash +€94,210
up €94,210 (+44.5%), from €211,865 to €306,075
mainly Net result for the year (+€58,170) and Depreciation (+€36,386)
- Intangible fixed assets -€19,943
down €19,943 (-33.3%), from €59,829 to €39,886
- Tangible fixed assets -€16,443
down €16,443 (-8.7%), from €188,882 to €172,439
- Receivables within one year +€7,532
new in 2026: €7,532
- Profit (loss) carried forward +€58,170
up €58,170 (+67.3%), from €86,434 to €144,604
- Debts after one year -€45,221
down €45,221 (-18.1%), from €250,103 to €204,883
- Trade debts +€31,518
up €31,518 (+386.4%), from €8,158 to €39,676
- Tax, wage and social debts +€21,074
up €21,074 (+70.0%), from €30,111 to €51,185
of which Taxes: +€22,359
- Gross operating margin +€85,731
up €85,731 (+54.4%), from €157,649 to €243,380
- Staff costs +€17,579
up €17,579 (+17.1%), from €102,957 to €120,536
- Taxes +€15,210
up €15,210 (+1529.2%), from €995 to €16,205
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €460,949 | €526,306 | +€65,357 | +14.2% |
| Fixed assets | 21/28 | €248,710 | €212,324 | -€36,386 | -14.6% |
| Intangible fixed assets | 21 | €59,829 | €39,886 | -€19,943 | -33.3% |
| Tangible fixed assets | 22/27 | €188,882 | €172,439 | -€16,443 | -8.7% |
| Land and buildings | 22 | €155,544 | €150,607 | -€4,937 | -3.2% |
| Plant, machinery and equipment | 23 | €27,491 | €20,850 | -€6,641 | -24.2% |
| Furniture and vehicles | 24 | €5,846 | €982 | -€4,865 | -83.2% |
| Current assets | 29/58 | €212,239 | €313,981 | +€101,742 | +47.9% |
| Amounts receivable within one year | 40/41 | - | €7,532 | +€7,532 | |
| Trade receivables | 40 | - | €7,532 | +€7,532 | |
| Cash at bank and in hand | 54/58 | €211,865 | €306,075 | +€94,210 | +44.5% |
| Deferred charges and accrued income | 490/1 | €374 | €374 | = | 0.0% |
| Total equity and liabilities | 10/49 | €460,949 | €526,306 | +€65,357 | +14.2% |
| Equity | 10/15 | €86,654 | €144,824 | +€58,170 | +67.1% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €20 | €20 | = | 0.0% |
| Distributable reserves | 133 | €20 | €20 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,434 | €144,604 | +€58,170 | +67.3% |
| Amounts payable | 17/49 | €374,295 | €381,482 | +€7,187 | +1.9% |
| Amounts payable after more than one year | 17 | €250,103 | €204,883 | -€45,221 | -18.1% |
| Financial debts | 170/4 | €250,103 | €204,883 | -€45,221 | -18.1% |
| Amounts payable within one year | 42/48 | €124,192 | €176,599 | +€52,408 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €48,776 | €51,964 | +€3,188 | +6.5% |
| Trade debts | 44 | €8,158 | €39,676 | +€31,518 | +386.4% |
| Suppliers | 440/4 | €8,158 | €39,676 | +€31,518 | +386.4% |
| Taxes, remuneration and social security | 45 | €30,111 | €51,185 | +€21,074 | +70.0% |
| Taxes | 450/3 | €7,100 | €29,458 | +€22,359 | +314.9% |
| Remuneration and social security | 454/9 | €23,011 | €21,727 | -€1,285 | -5.6% |
| Other amounts payable | 47/48 | €37,147 | €33,774 | -€3,372 | -9.1% |
| Remuneration, social security and pensions | 62 | €102,957 | €120,536 | +€17,579 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,459 | €36,386 | +€927 | +2.6% |
| Other operating charges | 640/8 | €1,848 | €3,592 | +€1,744 | +94.3% |
| Gross operating margin | 9900 | €157,649 | €243,380 | +€85,731 | +54.4% |
| Operating profit (loss) | 9901 | €17,384 | €82,865 | +€65,481 | +376.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -93.1% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -93.1% |
| Financial charges | 65/66B | €10,449 | €8,491 | -€1,958 | -18.7% |
| Recurring financial charges | 65 | €10,449 | €8,491 | -€1,958 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €6,936 | €74,375 | +€67,439 | +972.3% |
| Income taxes | 67/77 | €995 | €16,205 | +€15,210 | +1529.2% |
| Profit (loss) for the period | 9904 | €5,941 | €58,170 | +€52,228 | +879.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,941 | €58,170 | +€52,228 | +879.0% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.