Topaz: 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.
Topaz
Largest movements
- Cash -€80,750
down €80,750 (-79.8%), from €101,215 to €20,464
mainly Other debts (-€119,820) and Tax, wage and social debts (-€24,353)
- Receivables after one year -€8,000
no longer reported in 2025 (was €8,000)
- Deferred charges and accrued income -€4,751
down €4,751 (-29.9%), from €15,877 to €11,126
- Tangible fixed assets -€3,789
down €3,789 (-9.2%), from €41,405 to €37,615
of which Other tangible fixed assets: -€3,768
- Receivables within one year +€2,024
up €2,024 (+68.0%), from €2,978 to €5,002
- Other debts -€119,820
down €119,820 (-86.8%), from €138,033 to €18,213
- Profit (loss) carried forward +€48,669
up €48,669 (+47,547%), from €102 to €48,772
- Tax, wage and social debts -€24,353
no longer reported in 2025 (was €24,353)
- Accrued charges and deferred income +€2,449
new in 2025: €2,449
- Current portion of long-term debt -€2,224
no longer reported in 2025 (was €2,224)
- Gross operating margin +€3,965
up €3,965 (+5.9%), from €67,247 to €71,212
- Depreciation -€2,334
down €2,334 (-22.0%), from €10,632 to €8,298
- Taxes +€1,033
up €1,033 (+8.5%), from €12,087 to €13,120
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 | €169,474 | €74,207 | -€95,267 | -56.2% |
| Fixed assets | 21/28 | €41,405 | €37,615 | -€3,789 | -9.2% |
| Tangible fixed assets | 22/27 | €41,405 | €37,615 | -€3,789 | -9.2% |
| Plant, machinery and equipment | 23 | €481 | €216 | -€265 | -55.0% |
| Furniture and vehicles | 24 | €8,837 | €9,081 | +€244 | +2.8% |
| Other tangible fixed assets | 26 | €32,087 | €28,318 | -€3,768 | -11.7% |
| Current assets | 29/58 | €128,070 | €36,592 | -€91,477 | -71.4% |
| Amounts receivable after more than one year | 29 | €8,000 | - | -€8,000 | |
| Other amounts receivable | 291 | €8,000 | - | -€8,000 | |
| Amounts receivable within one year | 40/41 | €2,978 | €5,002 | +€2,024 | +68.0% |
| Other amounts receivable | 41 | €2,978 | €5,002 | +€2,024 | +68.0% |
| Cash at bank and in hand | 54/58 | €101,215 | €20,464 | -€80,750 | -79.8% |
| Deferred charges and accrued income | 490/1 | €15,877 | €11,126 | -€4,751 | -29.9% |
| Total equity and liabilities | 10/49 | €169,474 | €74,207 | -€95,267 | -56.2% |
| Equity | 10/15 | €3,102 | €51,772 | +€48,669 | +1,569% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102 | €48,772 | +€48,669 | +47,547% |
| Amounts payable | 17/49 | €166,372 | €22,436 | -€143,936 | -86.5% |
| Amounts payable within one year | 42/48 | €166,372 | €19,987 | -€146,385 | -88.0% |
| Current portion of amounts payable after more than one year | 42 | €2,224 | - | -€2,224 | |
| Trade debts | 44 | €1,761 | €1,773 | +€12 | +0.7% |
| Suppliers | 440/4 | €1,761 | €1,773 | +€12 | +0.7% |
| Taxes, remuneration and social security | 45 | €24,353 | - | -€24,353 | |
| Taxes | 450/3 | €24,353 | - | -€24,353 | |
| Other amounts payable | 47/48 | €138,033 | €18,213 | -€119,820 | -86.8% |
| Accrued charges and deferred income | 492/3 | - | €2,449 | +€2,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,632 | €8,298 | -€2,334 | -22.0% |
| Other operating charges | 640/8 | €878 | €930 | +€52 | +5.9% |
| Gross operating margin | 9900 | €67,247 | €71,212 | +€3,965 | +5.9% |
| Operating profit (loss) | 9901 | €55,737 | €61,984 | +€6,247 | +11.2% |
| Financial income | 75/76B | €441 | €480 | +€39 | +8.7% |
| Recurring financial income | 75 | €441 | €480 | +€39 | +8.7% |
| Financial charges | 65/66B | €179 | €675 | +€496 | +277% |
| Recurring financial charges | 65 | €179 | €675 | +€496 | +277% |
| Profit (loss) for the period before taxes | 9903 | €55,999 | €61,789 | +€5,790 | +10.3% |
| Income taxes | 67/77 | €12,087 | €13,120 | +€1,033 | +8.5% |
| Profit (loss) for the period | 9904 | €43,912 | €48,669 | +€4,757 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,912 | €48,669 | +€4,757 | +10.8% |
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 14 October 2026 via checked.be.