TopAsfalt: 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
TopAsfalt
NACE 23.990, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€149,226
2024 · €277,392-€128,166
Equity
€1.6m
2024 · €1.5m+€89,981
Cash
€341,285
2024 · €3.7m-€3.4m
Balance sheet total
€8.0m
2024 · €10.2m-€2.3m
Largest movements
Assets
- Cash -€3.4m
down €3.4m (-90.8%), from €3.7m to €341,285
mainly Current investments (-€2.6m) and Other debts (-€2.0m)
- Current investments +€2.6m
new in 2025: €2.6m
- Receivables within one year -€757,961
down €757,961 (-36.3%), from €2.1m to €1.3m
of which Trade receivables: -€826,989
- Tangible fixed assets -€613,738
down €613,738 (-16.4%), from €3.7m to €3.1m
of which Leasing and similar rights: -€311,019
- Stocks and contracts -€139,794
down €139,794 (-20.0%), from €697,751 to €557,957
Equity and liabilities
- Other debts -€2.0m
down €2.0m (-98.9%), from €2.0m to €22,128
- Debts after one year -€250,581
down €250,581 (-5.8%), from €4.3m to €4.1m
of which Financial debts: -€331,086
- Reserves +€149,226
up €149,226 (+18.8%), from €793,641 to €942,868
of which Distributable reserves: +€149,226
Income statement
- Turnover -€2.1m
down €2.1m (-15.1%), from €13.8m to €11.8m
- Goods and materials -€1.9m
down €1.9m (-19.6%), from €9.7m to €7.8m
of which Purchases: -€2.0m
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
€277,392
Turnover
-€2.1m
Other operating income
-€4,926
Goods and materials
+€1.9m
Services and other goods
+€114,585
Staff costs
-€12,751
Depreciation
-€29,365
Write-downs
+€8,667
Other operating charges
-€39,977
Financial income
-€3,045
Financial charges
-€14,926
Taxes
+€29,873
Result 2025
€149,226
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
-€367,456
Investment
-€2.7m
Financing
-€313,633
Cash 2024
€3.7m
From operations (derived)
-€367,456
Net result for the year
+€149,226
Depreciation
+€697,667
Stocks and contracts
+€139,794
Receivables within one year
+€757,961
Smaller working-capital items
-€3,842
Trade debts
-€98,236
Other debts
-€2.0m
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€83,929
Current investments
-€2.6m
Financing
-€313,633
Debts after one year
-€250,581
Current portion of long-term debt
-€3,807
Contributions, distributions and other
-€59,245
Cash 2025
€341,285
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,226,276 | €7,951,796 | -€2.3m | -22.2% |
| Fixed assets | 21/28 | €3,732,069 | €3,118,331 | -€613,738 | -16.4% |
| Tangible fixed assets | 22/27 | €3,732,069 | €3,118,331 | -€613,738 | -16.4% |
| Land and buildings | 22 | €1,323,036 | €1,204,881 | -€118,155 | -8.9% |
| Plant, machinery and equipment | 23 | €1,247,787 | €1,085,762 | -€162,025 | -13.0% |
| Furniture and vehicles | 24 | €46,848 | €24,309 | -€22,539 | -48.1% |
| Leasing and similar rights | 25 | €1,114,397 | €803,379 | -€311,019 | -27.9% |
| Current assets | 29/58 | €6,494,207 | €4,833,464 | -€1.7m | -25.6% |
| Stocks and contracts in progress | 3 | €697,751 | €557,957 | -€139,794 | -20.0% |
| Stocks | 30/36 | €697,751 | €557,957 | -€139,794 | -20.0% |
| Raw materials and consumables | 30/31 | €697,751 | €557,957 | -€139,794 | -20.0% |
| Amounts receivable within one year | 40/41 | €2,086,541 | €1,328,581 | -€757,961 | -36.3% |
| Trade receivables | 40 | €1,948,564 | €1,121,575 | -€826,989 | -42.4% |
| Other amounts receivable | 41 | €137,977 | €207,005 | +€69,028 | +50.0% |
| Current investments | 50/53 | - | €2,600,000 | +€2.6m | |
| Other investments | 51/53 | - | €2,600,000 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €3,706,303 | €341,285 | -€3.4m | -90.8% |
| Deferred charges and accrued income | 490/1 | €3,610 | €5,642 | +€2,031 | +56.3% |
| Total equity and liabilities | 10/49 | €10,226,276 | €7,951,796 | -€2.3m | -22.2% |
| Equity | 10/15 | €1,518,262 | €1,608,243 | +€89,981 | +5.9% |
| Contributions | 10/11 | €351,780 | €351,780 | = | 0.0% |
| Capital | 10 | €351,780 | €351,780 | = | 0.0% |
| Issued capital | 100 | €351,780 | €351,780 | = | 0.0% |
| Reserves | 13 | €793,641 | €942,868 | +€149,226 | +18.8% |
| Non-distributable reserves | 130/1 | €35,178 | €35,178 | = | 0.0% |
| Legal reserve | 130 | €35,178 | €35,178 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Distributable reserves | 133 | €632,163 | €781,390 | +€149,226 | +23.6% |
| Investment grants | 15 | €372,841 | €313,595 | -€59,245 | -15.9% |
| Amounts payable | 17/49 | €8,708,014 | €6,343,553 | -€2.4m | -27.2% |
| Amounts payable after more than one year | 17 | €4,348,582 | €4,098,000 | -€250,581 | -5.8% |
| Financial debts | 170/4 | €1,040,137 | €709,051 | -€331,086 | -31.8% |
| Leasing and similar obligations | 172 | €929,026 | €631,273 | -€297,753 | -32.0% |
| Credit institutions | 173 | €111,111 | €77,777 | -€33,333 | -30.0% |
| Other amounts payable | 178/9 | €3,308,445 | €3,388,949 | +€80,505 | +2.4% |
| Amounts payable within one year | 42/48 | €4,356,119 | €2,242,512 | -€2.1m | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €334,893 | €331,086 | -€3,807 | -1.1% |
| Trade debts | 44 | €1,924,099 | €1,825,863 | -€98,236 | -5.1% |
| Suppliers | 440/4 | €1,924,099 | €1,825,863 | -€98,236 | -5.1% |
| Taxes, remuneration and social security | 45 | €64,972 | €63,434 | -€1,538 | -2.4% |
| Taxes | 450/3 | €8,806 | €9,923 | +€1,117 | +12.7% |
| Remuneration and social security | 454/9 | €56,166 | €53,511 | -€2,655 | -4.7% |
| Other amounts payable | 47/48 | €2,032,155 | €22,128 | -€2.0m | -98.9% |
| Accrued charges and deferred income | 492/3 | €3,313 | €3,041 | -€272 | -8.2% |
| Operating income | 70/76A | €13,870,154 | €11,778,198 | -€2.1m | -15.1% |
| Turnover | 70 | €13,845,119 | €11,758,089 | -€2.1m | -15.1% |
| Other operating income | 74 | €25,035 | €20,109 | -€4,926 | -19.7% |
| Operating charges | 60/66A | €13,309,130 | €11,357,242 | -€2.0m | -14.7% |
| Goods for resale, raw materials and consumables | 60 | €9,747,894 | €7,837,165 | -€1.9m | -19.6% |
| Purchases | 600/8 | €9,657,248 | €7,697,370 | -€2.0m | -20.3% |
| Change in stocks: decrease (increase) | 609 | €90,646 | €139,794 | +€49,148 | +54.2% |
| Services and other goods | 61 | €2,206,856 | €2,092,271 | -€114,585 | -5.2% |
| Remuneration, social security and pensions | 62 | €608,217 | €620,968 | +€12,751 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €668,302 | €697,667 | +€29,365 | +4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,617 | -€5,050 | -€8,667 | |
| Other operating charges | 640/8 | €74,245 | €114,222 | +€39,977 | +53.8% |
| Operating profit (loss) | 9901 | €561,024 | €420,956 | -€140,068 | -25.0% |
| Financial income | 75/76B | €93,364 | €90,319 | -€3,045 | -3.3% |
| Recurring financial income | 75 | €93,364 | €90,319 | -€3,045 | -3.3% |
| Income from current assets | 751 | €3,386 | €9,447 | +€6,062 | +179% |
| Other financial income | 752/9 | €89,978 | €80,871 | -€9,107 | -10.1% |
| Financial charges | 65/66B | €313,573 | €328,500 | +€14,926 | +4.8% |
| Recurring financial charges | 65 | €313,573 | €328,500 | +€14,926 | +4.8% |
| Debt charges | 650 | €197,124 | €124,857 | -€72,268 | -36.7% |
| Other financial charges | 652/9 | €116,449 | €203,643 | +€87,194 | +74.9% |
| Profit (loss) for the period before taxes | 9903 | €340,814 | €182,775 | -€158,039 | -46.4% |
| Income taxes | 67/77 | €63,422 | €33,549 | -€29,873 | -47.1% |
| Taxes | 670/3 | €63,422 | €33,549 | -€29,873 | -47.1% |
| Profit (loss) for the period | 9904 | €277,392 | €149,226 | -€128,166 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €277,392 | €149,226 | -€128,166 | -46.2% |
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 18 October 2026 via checked.be.