TOP SOL: 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 SOL
Largest movements
- Tangible fixed assets -€19,277
down €19,277 (-26.3%), from €73,231 to €53,954
of which Plant, machinery and equipment: -€16,505
- Receivables within one year +€9,402
up €9,402 (+7.0%), from €135,210 to €144,612
of which Trade receivables: +€9,500
- Formation expenses -€5,730
down €5,730 (-33.3%), from €17,190 to €11,460
- Deferred charges and accrued income -€4,116
no longer reported in 2025 (was €4,116)
- Stocks and contracts -€3,618
down €3,618 (-8.5%), from €42,570 to €38,951
- Trade debts -€17,106
down €17,106 (-25.1%), from €68,038 to €50,932
- Profit (loss) carried forward +€7,979
up €7,979, from -€303 to €7,676
- Short-term financial debts -€5,356
down €5,356 (-19.8%), from €27,028 to €21,671
- Advances received -€4,327
down €4,327 (-7.3%), from €59,239 to €54,912
- Current portion of long-term debt -€3,893
down €3,893 (-75.0%), from €5,190 to €1,298
- Gross operating margin +€42,332
up €42,332 (+15.6%), from €271,092 to €313,425
- Staff costs +€24,543
up €24,543 (+9.8%), from €250,321 to €274,863
- Other operating charges -€3,641
down €3,641 (-76.1%), from €4,784 to €1,143
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 | €276,084 | €251,806 | -€24,278 | -8.8% |
| Formation expenses | 20 | €17,190 | €11,460 | -€5,730 | -33.3% |
| Fixed assets | 21/28 | €74,951 | €55,674 | -€19,277 | -25.7% |
| Tangible fixed assets | 22/27 | €73,231 | €53,954 | -€19,277 | -26.3% |
| Land and buildings | 22 | €18,805 | €16,805 | -€2,000 | -10.6% |
| Plant, machinery and equipment | 23 | €53,083 | €36,578 | -€16,505 | -31.1% |
| Furniture and vehicles | 24 | €1,343 | €571 | -€772 | -57.5% |
| Financial fixed assets | 28 | €1,720 | €1,720 | = | 0.0% |
| Current assets | 29/58 | €183,943 | €184,672 | +€729 | +0.4% |
| Stocks and contracts in progress | 3 | €42,570 | €38,951 | -€3,618 | -8.5% |
| Stocks | 30/36 | €42,570 | €38,951 | -€3,618 | -8.5% |
| Amounts receivable within one year | 40/41 | €135,210 | €144,612 | +€9,402 | +7.0% |
| Trade receivables | 40 | €122,022 | €131,522 | +€9,500 | +7.8% |
| Other amounts receivable | 41 | €13,188 | €13,090 | -€98 | -0.7% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,047 | €1,109 | -€939 | -45.9% |
| Deferred charges and accrued income | 490/1 | €4,116 | - | -€4,116 | |
| Total equity and liabilities | 10/49 | €276,084 | €251,806 | -€24,278 | -8.8% |
| Equity | 10/15 | €23,907 | €31,886 | +€7,979 | +33.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €3,750 | €3,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€303 | €7,676 | +€7,979 | |
| Amounts payable | 17/49 | €252,177 | €219,920 | -€32,257 | -12.8% |
| Amounts payable after more than one year | 17 | €74,298 | €76,000 | +€1,702 | +2.3% |
| Financial debts | 170/4 | €1,298 | - | -€1,298 | |
| Other amounts payable | 178/9 | €73,000 | €76,000 | +€3,000 | +4.1% |
| Amounts payable within one year | 42/48 | €177,159 | €143,671 | -€33,488 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €5,190 | €1,298 | -€3,893 | -75.0% |
| Financial debts | 43 | €27,028 | €21,671 | -€5,356 | -19.8% |
| Credit institutions | 430/8 | €27,028 | €21,671 | -€5,356 | -19.8% |
| Trade debts | 44 | €68,038 | €50,932 | -€17,106 | -25.1% |
| Suppliers | 440/4 | €68,038 | €50,932 | -€17,106 | -25.1% |
| Advances received on contracts in progress | 46 | €59,239 | €54,912 | -€4,327 | -7.3% |
| Taxes, remuneration and social security | 45 | €17,466 | €14,435 | -€3,031 | -17.4% |
| Taxes | 450/3 | €1,762 | €5,388 | +€3,627 | +205.9% |
| Remuneration and social security | 454/9 | €15,704 | €9,047 | -€6,657 | -42.4% |
| Other amounts payable | 47/48 | €198 | €423 | +€224 | +113.2% |
| Accrued charges and deferred income | 492/3 | €720 | €249 | -€472 | -65.5% |
| Remuneration, social security and pensions | 62 | €250,321 | €274,863 | +€24,543 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,207 | €25,007 | -€200 | -0.8% |
| Other operating charges | 640/8 | €4,784 | €1,143 | -€3,641 | -76.1% |
| Non-recurring operating charges | 66A | €1,605 | €2,382 | +€777 | +48.4% |
| Gross operating margin | 9900 | €271,092 | €313,425 | +€42,332 | +15.6% |
| Operating profit (loss) | 9901 | -€10,825 | €10,029 | +€20,854 | |
| Financial income | 75/76B | €495 | €406 | -€89 | -17.9% |
| Recurring financial income | 75 | €495 | €406 | -€89 | -17.9% |
| Financial charges | 65/66B | €3,499 | €2,456 | -€1,043 | -29.8% |
| Recurring financial charges | 65 | €3,499 | €2,456 | -€1,043 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,829 | €7,979 | +€21,809 | |
| Profit (loss) for the period | 9904 | -€13,829 | €7,979 | +€21,809 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,829 | €7,979 | +€21,809 |
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 10 October 2026 via checked.be.