TOPA PACKAGING: 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 PACKAGING
Largest movements
- Cash +€281,347
up €281,347 (+27.1%), from €1.0m to €1.3m
mainly Receivables within one year (+€264,359) and Other debts (+€110,920)
- Receivables within one year -€264,359
down €264,359 (-17.4%), from €1.5m to €1.3m
of which Trade receivables: -€353,979
- Trade debts -€133,922
down €133,922 (-66.5%), from €201,357 to €67,435
- Other debts +€110,920
up €110,920 (+87.6%), from €126,657 to €237,577
- Reserves +€55,716
up €55,716 (+2.9%), from €1.9m to €2.0m
- Gross operating margin -€269,954
down €269,954 (-15.2%), from €1.8m to €1.5m
- Staff costs +€237,308
up €237,308 (+20.7%), from €1.1m to €1.4m
- Taxes -€126,517
down €126,517 (-77.2%), from €163,826 to €37,309
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 | €2,613,152 | €2,638,077 | +€24,925 | +1.0% |
| Fixed assets | 21/28 | €38,396 | €35,852 | -€2,544 | -6.6% |
| Tangible fixed assets | 22/27 | €38,246 | €35,502 | -€2,744 | -7.2% |
| Plant, machinery and equipment | 23 | €7,756 | €15,973 | +€8,217 | +105.9% |
| Furniture and vehicles | 24 | €27,256 | €17,027 | -€10,229 | -37.5% |
| Other tangible fixed assets | 26 | €3,234 | €2,502 | -€732 | -22.6% |
| Financial fixed assets | 28 | €150 | €350 | +€200 | +133.3% |
| Current assets | 29/58 | €2,574,756 | €2,602,225 | +€27,469 | +1.1% |
| Stocks and contracts in progress | 3 | €6,371 | €9,847 | +€3,476 | +54.6% |
| Stocks | 30/36 | €6,371 | €9,847 | +€3,476 | +54.6% |
| Amounts receivable within one year | 40/41 | €1,519,017 | €1,254,658 | -€264,359 | -17.4% |
| Trade receivables | 40 | €1,487,237 | €1,133,258 | -€353,979 | -23.8% |
| Other amounts receivable | 41 | €31,780 | €121,400 | +€89,620 | +282.0% |
| Cash at bank and in hand | 54/58 | €1,040,033 | €1,321,380 | +€281,347 | +27.1% |
| Deferred charges and accrued income | 490/1 | €9,335 | €16,340 | +€7,005 | +75.0% |
| Total equity and liabilities | 10/49 | €2,613,152 | €2,638,077 | +€24,925 | +1.0% |
| Equity | 10/15 | €1,933,601 | €1,989,317 | +€55,716 | +2.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,915,051 | €1,970,767 | +€55,716 | +2.9% |
| Distributable reserves | 133 | €1,915,051 | €1,970,767 | +€55,716 | +2.9% |
| Amounts payable | 17/49 | €679,551 | €648,760 | -€30,791 | -4.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €679,551 | €648,760 | -€30,791 | -4.5% |
| Trade debts | 44 | €201,357 | €67,435 | -€133,922 | -66.5% |
| Suppliers | 440/4 | €201,357 | €67,435 | -€133,922 | -66.5% |
| Taxes, remuneration and social security | 45 | €351,537 | €343,748 | -€7,789 | -2.2% |
| Taxes | 450/3 | €151,678 | €144,902 | -€6,776 | -4.5% |
| Remuneration and social security | 454/9 | €199,859 | €198,846 | -€1,013 | -0.5% |
| Other amounts payable | 47/48 | €126,657 | €237,577 | +€110,920 | +87.6% |
| Non-recurring operating income | 76A | €13,709 | €0 | -€13,709 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,147,878 | €1,385,186 | +€237,308 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,841 | €10,682 | +€4,841 | +82.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,245 | €1,990 | -€255 | -11.4% |
| Other operating charges | 640/8 | €3,682 | €2,786 | -€896 | -24.3% |
| Non-recurring operating charges | 66A | €8,255 | €234 | -€8,022 | -97.2% |
| Gross operating margin | 9900 | €1,777,491 | €1,507,537 | -€269,954 | -15.2% |
| Operating profit (loss) | 9901 | €609,590 | €106,660 | -€502,930 | -82.5% |
| Financial income | 75/76B | €15,277 | €10,947 | -€4,330 | -28.3% |
| Recurring financial income | 75 | €15,277 | €10,947 | -€4,330 | -28.3% |
| Financial charges | 65/66B | €12,831 | €24,583 | +€11,751 | +91.6% |
| Recurring financial charges | 65 | €12,831 | €24,583 | +€11,751 | +91.6% |
| Profit (loss) for the period before taxes | 9903 | €612,036 | €93,025 | -€519,011 | -84.8% |
| Income taxes | 67/77 | €163,826 | €37,309 | -€126,517 | -77.2% |
| Profit (loss) for the period | 9904 | €448,210 | €55,716 | -€392,494 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €448,210 | €55,716 | -€392,494 | -87.6% |
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.