Topas: 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.
Topas
Largest movements
- Receivables within one year +€8,716
up €8,716 (+18.7%), from €46,487 to €55,203
of which Trade receivables: +€13,236
- Cash +€6,351
up €6,351 (+23.3%), from €27,212 to €33,563
mainly Net result for the year (+€13,964) and Depreciation (+€3,405)
- Tangible fixed assets -€3,405
down €3,405 (-47.2%), from €7,208 to €3,803
- Reserves +€13,964
up €13,964 (+20.7%), from €67,466 to €81,429
of which Distributable reserves: +€13,964
- Gross operating margin +€8,510
up €8,510 (+49.6%), from €17,166 to €25,677
- Taxes +€2,968
up €2,968 (+65.0%), from €4,566 to €7,534
- Financial income +€1,401
up €1,401 (+31693.7%), from €4 to €1,405
- Staff costs +€1,040
new in 2025: €1,040
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 | €90,145 | €102,227 | +€12,082 | +13.4% |
| Formation expenses | 20 | €780 | €780 | = | 0.0% |
| Fixed assets | 21/28 | €7,412 | €4,007 | -€3,405 | -45.9% |
| Tangible fixed assets | 22/27 | €7,208 | €3,803 | -€3,405 | -47.2% |
| Furniture and vehicles | 24 | €7,208 | €3,803 | -€3,405 | -47.2% |
| Financial fixed assets | 28 | €204 | €204 | = | 0.0% |
| Current assets | 29/58 | €81,953 | €97,440 | +€15,487 | +18.9% |
| Stocks and contracts in progress | 3 | €7,320 | €7,730 | +€409 | +5.6% |
| Stocks | 30/36 | €7,320 | €7,730 | +€409 | +5.6% |
| Amounts receivable within one year | 40/41 | €46,487 | €55,203 | +€8,716 | +18.7% |
| Trade receivables | 40 | €19,641 | €32,877 | +€13,236 | +67.4% |
| Other amounts receivable | 41 | €26,846 | €22,326 | -€4,520 | -16.8% |
| Cash at bank and in hand | 54/58 | €27,212 | €33,563 | +€6,351 | +23.3% |
| Deferred charges and accrued income | 490/1 | €934 | €944 | +€10 | +1.1% |
| Total equity and liabilities | 10/49 | €90,145 | €102,227 | +€12,082 | +13.4% |
| Equity | 10/15 | €86,058 | €100,021 | +€13,964 | +16.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €67,466 | €81,429 | +€13,964 | +20.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €60,607 | €74,570 | +€13,964 | +23.0% |
| Amounts payable | 17/49 | €4,087 | €2,205 | -€1,882 | -46.0% |
| Amounts payable within one year | 42/48 | €3,835 | €2,205 | -€1,629 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | - | €250 | +€250 | |
| Trade debts | 44 | €2,464 | €1,577 | -€887 | -36.0% |
| Suppliers | 440/4 | €2,464 | €1,577 | -€887 | -36.0% |
| Taxes, remuneration and social security | 45 | €1,370 | €378 | -€992 | -72.4% |
| Taxes | 450/3 | €1,173 | €378 | -€795 | -67.8% |
| Remuneration and social security | 454/9 | €198 | - | -€198 | |
| Accrued charges and deferred income | 492/3 | €253 | - | -€253 | |
| Remuneration, social security and pensions | 62 | - | €1,040 | +€1,040 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,628 | €3,405 | -€224 | -6.2% |
| Other operating charges | 640/8 | €627 | €648 | +€21 | +3.4% |
| Gross operating margin | 9900 | €17,166 | €25,677 | +€8,510 | +49.6% |
| Operating profit (loss) | 9901 | €12,911 | €20,585 | +€7,673 | +59.4% |
| Financial income | 75/76B | €4 | €1,405 | +€1,401 | +31693.7% |
| Recurring financial income | 75 | €4 | €1,405 | +€1,401 | +31693.7% |
| Financial charges | 65/66B | €297 | €492 | +€195 | +65.6% |
| Recurring financial charges | 65 | €297 | €492 | +€195 | +65.6% |
| Profit (loss) for the period before taxes | 9903 | €12,619 | €21,498 | +€8,879 | +70.4% |
| Income taxes | 67/77 | €4,566 | €7,534 | +€2,968 | +65.0% |
| Profit (loss) for the period | 9904 | €8,052 | €13,964 | +€5,911 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,052 | €13,964 | +€5,911 | +73.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.