TOPAZE: what changed
Two fiscal 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.
TOPAZE
Largest movements
- Receivables within one year -€67,392
down €67,392 (-29.6%), from €228,060 to €160,668
of which Trade receivables: -€75,613
- Stocks and contracts -€60,324
down €60,324 (-21.3%), from €283,327 to €223,003
- Cash -€29,650
down €29,650 (-13.5%), from €219,580 to €189,930
mainly Trade debts (-€144,180) and Tax, wage and social debts (-€21,113)
- Trade debts -€144,180
down €144,180 (-52.7%), from €273,468 to €129,288
- Tax, wage and social debts -€21,113
down €21,113 (-52.7%), from €40,039 to €18,926
of which Taxes: -€15,512
- Accrued charges and deferred income -€19,734
down €19,734 (-52.3%), from €37,734 to €18,000
- Reserves +€14,370
up €14,370 (+21.4%), from €67,197 to €81,567
of which Distributable reserves: +€14,370
- Other debts +€13,291
up €13,291 (+5.0%), from €265,937 to €279,228
- Gross operating margin -€17,031
down €17,031 (-23.1%), from €73,657 to €56,626
- Staff costs -€7,295
down €7,295 (-16.3%), from €44,760 to €37,464
- Financial income +€6,697
up €6,697 (+281.6%), from €2,378 to €9,075
- Taxes -€1,449
down €1,449 (-16.0%), from €9,052 to €7,603
- Financial charges +€791
up €791 (+17.6%), from €4,483 to €5,273
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 | €730,967 | €573,601 | -€157,366 | -21.5% |
| Current assets | 29/58 | €730,967 | €573,601 | -€157,366 | -21.5% |
| Stocks and contracts in progress | 3 | €283,327 | €223,003 | -€60,324 | -21.3% |
| Stocks | 30/36 | €283,327 | €223,003 | -€60,324 | -21.3% |
| Amounts receivable within one year | 40/41 | €228,060 | €160,668 | -€67,392 | -29.6% |
| Trade receivables | 40 | €219,613 | €144,000 | -€75,613 | -34.4% |
| Other amounts receivable | 41 | €8,447 | €16,668 | +€8,221 | +97.3% |
| Cash at bank and in hand | 54/58 | €219,580 | €189,930 | -€29,650 | -13.5% |
| Total equity and liabilities | 10/49 | €730,967 | €573,601 | -€157,366 | -21.5% |
| Equity | 10/15 | €85,789 | €100,159 | +€14,370 | +16.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €67,197 | €81,567 | +€14,370 | +21.4% |
| Non-distributable reserves | 130/1 | €1,873 | €1,873 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,873 | €1,873 | = | 0.0% |
| Distributable reserves | 133 | €65,324 | €79,694 | +€14,370 | +22.0% |
| Amounts payable | 17/49 | €645,177 | €473,442 | -€171,736 | -26.6% |
| Amounts payable within one year | 42/48 | €607,444 | €455,442 | -€152,002 | -25.0% |
| Financial debts | 43 | €28,000 | €28,000 | = | 0.0% |
| Credit institutions | 430/8 | €28,000 | €28,000 | = | 0.0% |
| Trade debts | 44 | €273,468 | €129,288 | -€144,180 | -52.7% |
| Suppliers | 440/4 | €273,468 | €129,288 | -€144,180 | -52.7% |
| Taxes, remuneration and social security | 45 | €40,039 | €18,926 | -€21,113 | -52.7% |
| Taxes | 450/3 | €28,026 | €12,514 | -€15,512 | -55.3% |
| Remuneration and social security | 454/9 | €12,012 | €6,412 | -€5,601 | -46.6% |
| Other amounts payable | 47/48 | €265,937 | €279,228 | +€13,291 | +5.0% |
| Accrued charges and deferred income | 492/3 | €37,734 | €18,000 | -€19,734 | -52.3% |
| Remuneration, social security and pensions | 62 | €44,760 | €37,464 | -€7,295 | -16.3% |
| Other operating charges | 640/8 | €1,599 | €990 | -€609 | -38.1% |
| Gross operating margin | 9900 | €73,657 | €56,626 | -€17,031 | -23.1% |
| Operating profit (loss) | 9901 | €27,299 | €18,172 | -€9,127 | -33.4% |
| Financial income | 75/76B | €2,378 | €9,075 | +€6,697 | +281.6% |
| Recurring financial income | 75 | €2,378 | €9,075 | +€6,697 | +281.6% |
| Financial charges | 65/66B | €4,483 | €5,273 | +€791 | +17.6% |
| Recurring financial charges | 65 | €4,483 | €5,273 | +€791 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €25,194 | €21,973 | -€3,221 | -12.8% |
| Income taxes | 67/77 | €9,052 | €7,603 | -€1,449 | -16.0% |
| Profit (loss) for the period | 9904 | €16,142 | €14,370 | -€1,772 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,142 | €14,370 | -€1,772 | -11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.