TOPA & CO: 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.
TOPA & CO
Largest movements
- Receivables within one year -€33,943
down €33,943 (-25.7%), from €131,889 to €97,947
of which Trade receivables: -€59,655
- Stocks and contracts +€9,941
up €9,941 (+27.3%), from €36,347 to €46,288
- Cash -€4,086
down €4,086 (-20.5%), from €19,941 to €15,855
mainly Trade debts (-€45,890) and Tax, wage and social debts (-€11,870)
- Trade debts -€45,890
down €45,890 (-78.4%), from €58,516 to €12,626
- Profit (loss) carried forward +€28,786
up €28,786 (+32.5%), from €88,564 to €117,351
- Tax, wage and social debts -€11,870
down €11,870 (-40.0%), from €29,653 to €17,783
of which Remuneration and social security: -€11,152
- Staff costs -€16,222
down €16,222 (-31.1%), from €52,208 to €35,986
- Gross operating margin -€14,911
down €14,911 (-15.8%), from €94,256 to €79,345
- Financial income -€2,072
down €2,072 (-93.3%), from €2,221 to €149
of which Non-recurring financial income: -€2,071
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 | €190,271 | €161,489 | -€28,782 | -15.1% |
| Fixed assets | 21/28 | €1,400 | €1,400 | = | 0.0% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €188,871 | €160,089 | -€28,782 | -15.2% |
| Stocks and contracts in progress | 3 | €36,347 | €46,288 | +€9,941 | +27.3% |
| Stocks | 30/36 | €36,347 | €46,288 | +€9,941 | +27.3% |
| Amounts receivable within one year | 40/41 | €131,889 | €97,947 | -€33,943 | -25.7% |
| Trade receivables | 40 | €76,382 | €16,726 | -€59,655 | -78.1% |
| Other amounts receivable | 41 | €55,508 | €81,220 | +€25,713 | +46.3% |
| Cash at bank and in hand | 54/58 | €19,941 | €15,855 | -€4,086 | -20.5% |
| Deferred charges and accrued income | 490/1 | €694 | - | -€694 | |
| Total equity and liabilities | 10/49 | €190,271 | €161,489 | -€28,782 | -15.1% |
| Equity | 10/15 | €101,876 | €130,662 | +€28,786 | +28.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,111 | €7,111 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,251 | €5,251 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,564 | €117,351 | +€28,786 | +32.5% |
| Amounts payable | 17/49 | €88,395 | €30,827 | -€57,568 | -65.1% |
| Amounts payable within one year | 42/48 | €88,169 | €30,609 | -€57,560 | -65.3% |
| Trade debts | 44 | €58,516 | €12,626 | -€45,890 | -78.4% |
| Suppliers | 440/4 | €58,516 | €12,626 | -€45,890 | -78.4% |
| Taxes, remuneration and social security | 45 | €29,653 | €17,783 | -€11,870 | -40.0% |
| Taxes | 450/3 | €11,481 | €10,763 | -€718 | -6.3% |
| Remuneration and social security | 454/9 | €18,172 | €7,020 | -€11,152 | -61.4% |
| Other amounts payable | 47/48 | - | €200 | +€200 | |
| Accrued charges and deferred income | 492/3 | €226 | €218 | -€9 | -3.8% |
| Remuneration, social security and pensions | 62 | €52,208 | €35,986 | -€16,222 | -31.1% |
| Other operating charges | 640/8 | €1,028 | €1,892 | +€864 | +84.1% |
| Non-recurring operating charges | 66A | €3,598 | €478 | -€3,120 | -86.7% |
| Gross operating margin | 9900 | €94,256 | €79,345 | -€14,911 | -15.8% |
| Operating profit (loss) | 9901 | €37,422 | €40,988 | +€3,566 | +9.5% |
| Financial income | 75/76B | €2,221 | €149 | -€2,072 | -93.3% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -1.6% |
| Non-recurring financial income | 76B | €2,220 | €149 | -€2,071 | -93.3% |
| Financial charges | 65/66B | €2,134 | €1,698 | -€436 | -20.4% |
| Recurring financial charges | 65 | €2,134 | €1,698 | -€436 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €37,509 | €39,439 | +€1,931 | +5.1% |
| Income taxes | 67/77 | €11,202 | €10,653 | -€549 | -4.9% |
| Profit (loss) for the period | 9904 | €26,307 | €28,786 | +€2,479 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,307 | €28,786 | +€2,479 | +9.4% |
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 21 October 2026 via checked.be.