TOP TEAM: 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 TEAM
Largest movements
- Cash +€210,983
up €210,983 (+44.4%), from €475,182 to €686,165
mainly Net result for the year (+€423,480) and Other debts (+€297,788)
- Tangible fixed assets +€164,878
up €164,878 (+222%), from €74,279 to €239,157
of which Other tangible fixed assets: +€113,699
- Deferred charges and accrued income +€15,030
up €15,030 (+64.8%), from €23,199 to €38,229
- Other debts +€297,788
up €297,788 (+236%), from €126,300 to €424,088
- Debts after one year +€73,096
new in 2025: €73,096
- Tax, wage and social debts -€25,670
down €25,670 (-10.0%), from €257,519 to €231,849
of which Taxes: -€32,693
- Trade debts +€24,448
up €24,448 (+8.5%), from €288,909 to €313,357
- Current portion of long-term debt +€19,103
new in 2025: €19,103
- Gross operating margin +€87,757
up €87,757 (+3.7%), from €2.4m to €2.5m
- Staff costs +€79,770
up €79,770 (+4.5%), from €1.8m to €1.9m
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.
Derived cash bridge
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 | €674,288 | €1,062,363 | +€388,074 | +57.6% |
| Fixed assets | 21/28 | €74,279 | €239,157 | +€164,878 | +222% |
| Tangible fixed assets | 22/27 | €74,279 | €239,157 | +€164,878 | +222% |
| Plant, machinery and equipment | 23 | €17,828 | €51,217 | +€33,389 | +187% |
| Furniture and vehicles | 24 | €28,244 | €46,034 | +€17,791 | +63.0% |
| Other tangible fixed assets | 26 | €28,207 | €141,906 | +€113,699 | +403% |
| Current assets | 29/58 | €600,009 | €823,205 | +€223,196 | +37.2% |
| Stocks and contracts in progress | 3 | €46,903 | €40,575 | -€6,328 | -13.5% |
| Stocks | 30/36 | €46,903 | €40,575 | -€6,328 | -13.5% |
| Amounts receivable within one year | 40/41 | €54,725 | €58,237 | +€3,512 | +6.4% |
| Trade receivables | 40 | €52,869 | €58,049 | +€5,180 | +9.8% |
| Other amounts receivable | 41 | €1,856 | €188 | -€1,668 | -89.9% |
| Cash at bank and in hand | 54/58 | €475,182 | €686,165 | +€210,983 | +44.4% |
| Deferred charges and accrued income | 490/1 | €23,199 | €38,229 | +€15,030 | +64.8% |
| Total equity and liabilities | 10/49 | €674,288 | €1,062,363 | +€388,074 | +57.6% |
| Equity | 10/15 | €44 | €25 | -€20 | -44.2% |
| Profit (loss) carried forward | 14 | €44 | €25 | -€20 | -44.2% |
| Amounts payable | 17/49 | €674,244 | €1,062,338 | +€388,094 | +57.6% |
| Amounts payable after more than one year | 17 | - | €73,096 | +€73,096 | |
| Financial debts | 170/4 | - | €73,096 | +€73,096 | |
| Amounts payable within one year | 42/48 | €674,208 | €989,242 | +€315,034 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | - | €19,103 | +€19,103 | |
| Financial debts | 43 | €1,480 | €845 | -€635 | -42.9% |
| Credit institutions | 430/8 | €1,480 | €845 | -€635 | -42.9% |
| Trade debts | 44 | €288,909 | €313,357 | +€24,448 | +8.5% |
| Suppliers | 440/4 | €288,909 | €313,357 | +€24,448 | +8.5% |
| Taxes, remuneration and social security | 45 | €257,519 | €231,849 | -€25,670 | -10.0% |
| Taxes | 450/3 | €100,128 | €67,436 | -€32,693 | -32.7% |
| Remuneration and social security | 454/9 | €157,391 | €164,413 | +€7,022 | +4.5% |
| Other amounts payable | 47/48 | €126,300 | €424,088 | +€297,788 | +236% |
| Accrued charges and deferred income | 492/3 | €36 | €0 | -€36 | -99.6% |
| Non-recurring operating income | 76A | - | €72 | +€72 | |
| Remuneration, social security and pensions | 62 | €1,774,680 | €1,854,450 | +€79,770 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,914 | €35,433 | +€1,519 | +4.5% |
| Other operating charges | 640/8 | €8,396 | €2,851 | -€5,545 | -66.0% |
| Gross operating margin | 9900 | €2,378,278 | €2,466,035 | +€87,757 | +3.7% |
| Operating profit (loss) | 9901 | €561,287 | €573,301 | +€12,014 | +2.1% |
| Financial income | 75/76B | €4,195 | €99 | -€4,096 | -97.6% |
| Recurring financial income | 75 | €4,195 | €99 | -€4,096 | -97.6% |
| Financial charges | 65/66B | €5,295 | €6,253 | +€957 | +18.1% |
| Recurring financial charges | 65 | €5,295 | €6,253 | +€957 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €560,187 | €567,147 | +€6,960 | +1.2% |
| Income taxes | 67/77 | €147,789 | €143,667 | -€4,122 | -2.8% |
| Profit (loss) for the period | 9904 | €412,399 | €423,480 | +€11,082 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €412,399 | €423,480 | +€11,082 | +2.7% |
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 23 October 2026 via checked.be.