TOP TRADING: 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.
What changed
TOP TRADING
NACE 46.649, Wholesale of other machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,204
2024 · €21,855-€2,651
Equity
€1.5m
2024 · €1.5m+€19,204
Cash
€689,431
2024 · €635,348+€54,082
Balance sheet total
€1.7m
2024 · €1.7m-€123
Largest movements
Assets
- Tangible fixed assets -€60,865
down €60,865 (-5.7%), from €1.1m to €1.0m
of which Land and buildings: -€56,530
- Cash +€54,082
up €54,082 (+8.5%), from €635,348 to €689,431
mainly Depreciation (+€60,865) and Net result for the year (+€19,204)
Equity and liabilities
- Debts after one year -€29,428
down €29,428 (-24.1%), from €122,163 to €92,735
- Profit (loss) carried forward +€19,204
up €19,204 (+19.8%), from -€97,100 to -€77,896
Income statement
- Gross operating margin -€4,384
down €4,384 (-3.6%), from €120,538 to €116,154
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.
Result 2024
€21,855
Gross operating margin
-€4,384
Depreciation
-€275
Other operating charges
+€239
Financial income
+€943
Financial charges
+€62
Taxes
+€764
Result 2025
€19,204
raises the resultlowers the result
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.
From operations
+€83,198
Investment
€0
Financing
-€29,115
Cash 2024
€635,348
From operations (derived)
+€83,198
Net result for the year
+€19,204
Depreciation
+€60,865
Receivables within one year
-€7,576
Deferred charges and accrued income
+€917
Trade debts
+€7,539
Tax, wage and social debts
-€951
Other debts
+€3,200
Financing
-€29,115
Debts after one year
-€29,428
Current portion of long-term debt
+€312
Cash 2025
€689,431
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,724,376 | €1,724,253 | -€123 | 0.0% |
| Fixed assets | 21/28 | €1,069,255 | €1,008,391 | -€60,865 | -5.7% |
| Tangible fixed assets | 22/27 | €1,069,255 | €1,008,391 | -€60,865 | -5.7% |
| Land and buildings | 22 | €1,046,927 | €990,397 | -€56,530 | -5.4% |
| Plant, machinery and equipment | 23 | €22,329 | €17,994 | -€4,335 | -19.4% |
| Current assets | 29/58 | €655,121 | €715,862 | +€60,741 | +9.3% |
| Amounts receivable within one year | 40/41 | €10,723 | €18,299 | +€7,576 | +70.7% |
| Trade receivables | 40 | €9,015 | €16,203 | +€7,188 | +79.7% |
| Other amounts receivable | 41 | €1,708 | €2,096 | +€388 | +22.7% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €635,348 | €689,431 | +€54,082 | +8.5% |
| Deferred charges and accrued income | 490/1 | €9,050 | €8,132 | -€917 | -10.1% |
| Total equity and liabilities | 10/49 | €1,724,376 | €1,724,253 | -€123 | 0.0% |
| Equity | 10/15 | €1,483,009 | €1,502,213 | +€19,204 | +1.3% |
| Contributions | 10/11 | €402,827 | €402,827 | = | 0.0% |
| Capital | 10 | €402,827 | €402,827 | = | 0.0% |
| Issued capital | 100 | €402,827 | €402,827 | = | 0.0% |
| Revaluation surpluses | 12 | €1,171,402 | €1,171,402 | = | 0.0% |
| Reserves | 13 | €5,881 | €5,881 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,881 | €5,881 | = | 0.0% |
| Legal reserve | 130 | €5,881 | €5,881 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,100 | -€77,896 | +€19,204 | +19.8% |
| Amounts payable | 17/49 | €241,366 | €222,039 | -€19,327 | -8.0% |
| Amounts payable after more than one year | 17 | €122,163 | €92,735 | -€29,428 | -24.1% |
| Financial debts | 170/4 | €122,163 | €92,735 | -€29,428 | -24.1% |
| Amounts payable within one year | 42/48 | €119,204 | €129,304 | +€10,100 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €29,115 | €29,428 | +€312 | +1.1% |
| Trade debts | 44 | €77,792 | €85,331 | +€7,539 | +9.7% |
| Suppliers | 440/4 | €77,792 | €85,331 | +€7,539 | +9.7% |
| Taxes, remuneration and social security | 45 | €951 | €0 | -€951 | -100% |
| Taxes | 450/3 | €951 | €0 | -€951 | -100% |
| Other amounts payable | 47/48 | €11,345 | €14,545 | +€3,200 | +28.2% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,590 | €60,865 | +€275 | +0.5% |
| Other operating charges | 640/8 | €24,397 | €24,157 | -€239 | -1.0% |
| Gross operating margin | 9900 | €120,538 | €116,154 | -€4,384 | -3.6% |
| Operating profit (loss) | 9901 | €35,552 | €31,132 | -€4,420 | -12.4% |
| Financial income | 75/76B | €5,874 | €6,816 | +€943 | +16.0% |
| Recurring financial income | 75 | €5,874 | €6,816 | +€943 | +16.0% |
| Financial charges | 65/66B | €1,858 | €1,796 | -€62 | -3.3% |
| Recurring financial charges | 65 | €1,858 | €1,796 | -€62 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €39,568 | €36,153 | -€3,415 | -8.6% |
| Income taxes | 67/77 | €17,713 | €16,949 | -€764 | -4.3% |
| Profit (loss) for the period | 9904 | €21,855 | €19,204 | -€2,651 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,855 | €19,204 | -€2,651 | -12.1% |
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 20 October 2026 via checked.be.