TOPAAS: 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.
TOPAAS
Largest movements
- Stocks and contracts +€18,159
up €18,159 (+11.5%), from €158,101 to €176,260
- Cash +€5,022
up €5,022 (+8204.5%), from €61 to €5,083
mainly Net result for the year (+€9,304) and Trade debts (+€8,214)
- Receivables within one year -€3,240
down €3,240 (-6.1%), from €53,237 to €49,997
- Reserves +€9,200
up €9,200 (+18.6%), from €49,474 to €58,674
- Trade debts +€8,214
up €8,214 (+8.4%), from €98,219 to €106,433
- Tax, wage and social debts +€2,965
up €2,965 (+44.5%), from €6,656 to €9,621
- Gross operating margin +€12,704
up €12,704 (+211.2%), from €6,017 to €18,721
- Taxes +€4,131
up €4,131 (+324.9%), from €1,271 to €5,403
- Financial income -€1,143
no longer reported in 2025 (was €1,143)
- Depreciation +€331
up €331 (+44.9%), from €737 to €1,069
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 | €215,286 | €235,407 | +€20,121 | +9.3% |
| Fixed assets | 21/28 | €2,562 | €3,243 | +€681 | +26.6% |
| Tangible fixed assets | 22/27 | €2,562 | €3,243 | +€681 | +26.6% |
| Plant, machinery and equipment | 23 | €1,168 | €2,391 | +€1,223 | +104.7% |
| Furniture and vehicles | 24 | €1,394 | €852 | -€542 | -38.9% |
| Current assets | 29/58 | €212,724 | €232,163 | +€19,440 | +9.1% |
| Stocks and contracts in progress | 3 | €158,101 | €176,260 | +€18,159 | +11.5% |
| Stocks | 30/36 | €158,101 | €176,260 | +€18,159 | +11.5% |
| Amounts receivable within one year | 40/41 | €53,237 | €49,997 | -€3,240 | -6.1% |
| Other amounts receivable | 41 | €53,237 | €49,997 | -€3,240 | -6.1% |
| Cash at bank and in hand | 54/58 | €61 | €5,083 | +€5,022 | +8204.5% |
| Deferred charges and accrued income | 490/1 | €1,324 | €824 | -€501 | -37.8% |
| Total equity and liabilities | 10/49 | €215,286 | €235,407 | +€20,121 | +9.3% |
| Equity | 10/15 | €109,433 | €118,737 | +€9,304 | +8.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €49,474 | €58,674 | +€9,200 | +18.6% |
| Distributable reserves | 133 | €49,474 | €58,674 | +€9,200 | +18.6% |
| Profit (loss) carried forward | 14 | €34,960 | €35,064 | +€104 | +0.3% |
| Amounts payable | 17/49 | €105,852 | €116,669 | +€10,817 | +10.2% |
| Amounts payable within one year | 42/48 | €104,875 | €116,054 | +€11,179 | +10.7% |
| Trade debts | 44 | €98,219 | €106,433 | +€8,214 | +8.4% |
| Suppliers | 440/4 | €98,219 | €106,433 | +€8,214 | +8.4% |
| Taxes, remuneration and social security | 45 | €6,656 | €9,621 | +€2,965 | +44.5% |
| Taxes | 450/3 | €6,656 | €9,621 | +€2,965 | +44.5% |
| Accrued charges and deferred income | 492/3 | €977 | €615 | -€362 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €737 | €1,069 | +€331 | +44.9% |
| Other operating charges | 640/8 | €415 | €454 | +€39 | +9.4% |
| Gross operating margin | 9900 | €6,017 | €18,721 | +€12,704 | +211.2% |
| Operating profit (loss) | 9901 | €4,864 | €17,198 | +€12,334 | +253.6% |
| Financial income | 75/76B | €1,143 | - | -€1,143 | |
| Recurring financial income | 75 | €1,143 | - | -€1,143 | |
| Financial charges | 65/66B | €2,551 | €2,492 | -€60 | -2.3% |
| Recurring financial charges | 65 | €2,551 | €2,492 | -€60 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €3,456 | €14,707 | +€11,251 | +325.6% |
| Income taxes | 67/77 | €1,271 | €5,403 | +€4,131 | +324.9% |
| Profit (loss) for the period | 9904 | €2,184 | €9,304 | +€7,120 | +326.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,184 | €9,304 | +€7,120 | +326.0% |
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 12 October 2026 via checked.be.