TOPCO: what changed
What changed
TOPCO
NACE 71.111, Activities of building architects
filed annual accounts (NBB)
Net result for the year
€165,320
2024 · -€169,900+€335,220
Equity
€2.7m
2024 · €2.6m+€165,320
Cash
€117,339
2024 · €49,111+€68,227
Balance sheet total
€3.3m
2024 · €3.1m+€175,792
Largest movements
Assets
- Receivables within one year +€464,009
up €464,009 (+25.5%), from €1.8m to €2.3m
of which Other amounts receivable: +€512,915
- Tangible fixed assets -€358,266
down €358,266 (-28.6%), from €1.3m to €893,389
of which Land and buildings: -€205,979
- Cash +€68,227
up €68,227 (+139%), from €49,111 to €117,339
mainly Investment in fixed assets (net) (+€300,069) and Net result for the year (+€165,320)
Equity and liabilities
- Profit (loss) carried forward +€179,722
up €179,722 (+10.3%), from €1.8m to €1.9m
- Short-term financial debts +€58,481
up €58,481 (+5,845%), from €1,001 to €59,482
Income statement
- Gross operating margin +€358,631
up €358,631, from -€88,357 to €270,274
- Depreciation -€19,455
down €19,455 (-25.1%), from €77,652 to €58,197
- Taxes +€19,422
new in 2025: €19,422
- Staff costs +€11,875
up €11,875, from -€10,907 to €968
- Other operating charges +€6,393
up €6,393 (+34.1%), from €18,744 to €25,137
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€169,900
Gross operating margin
+€358,631
Staff costs
-€11,875
Depreciation
+€19,455
Other operating charges
-€6,393
Financial income
-€112
Financial charges
-€2,023
Taxes
-€19,422
Deferred taxes and other
-€3,042
Result 2025
€165,320
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€254,948
Investment
+€300,069
Financing
+€23,107
Cash 2024
€49,111
From operations (derived)
-€254,948
Net result for the year
+€165,320
Depreciation
+€58,197
Receivables within one year
-€464,009
Deferred charges and accrued income
-€1,821
Provisions
-€7,416
Trade debts
-€18,869
Tax, wage and social debts
+€19,420
Smaller working-capital items
-€843
Other debts
-€4,927
Investment (derived)
+€300,069
Investment in fixed assets (net)
+€300,069
Financing
+€23,107
Debts after one year
-€32,101
Current portion of long-term debt
-€3,273
Short-term financial debts
+€58,481
Cash 2025
€117,339
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,119,972 | €3,295,764 | +€175,792 | +5.6% |
| Fixed assets | 21/28 | €1,251,655 | €893,389 | -€358,266 | -28.6% |
| Tangible fixed assets | 22/27 | €1,251,655 | €893,389 | -€358,266 | -28.6% |
| Land and buildings | 22 | €1,022,599 | €816,619 | -€205,979 | -20.1% |
| Plant, machinery and equipment | 23 | €5,579 | €2,415 | -€3,164 | -56.7% |
| Furniture and vehicles | 24 | €28,942 | €18,476 | -€10,466 | -36.2% |
| Other tangible fixed assets | 26 | €194,535 | €55,879 | -€138,656 | -71.3% |
| Current assets | 29/58 | €1,868,317 | €2,402,374 | +€534,057 | +28.6% |
| Amounts receivable within one year | 40/41 | €1,817,289 | €2,281,298 | +€464,009 | +25.5% |
| Trade receivables | 40 | €119,087 | €70,181 | -€48,905 | -41.1% |
| Other amounts receivable | 41 | €1,698,202 | €2,211,116 | +€512,915 | +30.2% |
| Cash at bank and in hand | 54/58 | €49,111 | €117,339 | +€68,227 | +139% |
| Deferred charges and accrued income | 490/1 | €1,917 | €3,738 | +€1,821 | +95.0% |
| Total equity and liabilities | 10/49 | €3,119,972 | €3,295,764 | +€175,792 | +5.6% |
| Equity | 10/15 | €2,562,517 | €2,727,837 | +€165,320 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €806,260 | €791,858 | -€14,402 | -1.8% |
| Tax-exempt reserves | 132 | €117,771 | €103,369 | -€14,402 | -12.2% |
| Distributable reserves | 133 | €688,489 | €688,489 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,750,057 | €1,929,779 | +€179,722 | +10.3% |
| Provisions and deferred taxes | 16 | €60,643 | €53,227 | -€7,416 | -12.2% |
| Deferred taxes | 168 | €60,643 | €53,227 | -€7,416 | -12.2% |
| Amounts payable | 17/49 | €496,813 | €514,700 | +€17,887 | +3.6% |
| Amounts payable after more than one year | 17 | €227,752 | €195,650 | -€32,101 | -14.1% |
| Financial debts | 170/4 | €227,752 | €195,650 | -€32,101 | -14.1% |
| Amounts payable within one year | 42/48 | €268,311 | €319,049 | +€50,738 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €35,374 | €32,101 | -€3,273 | -9.3% |
| Financial debts | 43 | €1,001 | €59,482 | +€58,481 | +5,845% |
| Credit institutions | 430/8 | €1,001 | €59,482 | +€58,481 | +5,845% |
| Trade debts | 44 | €134,597 | €115,728 | -€18,869 | -14.0% |
| Suppliers | 440/4 | €134,597 | €115,728 | -€18,869 | -14.0% |
| Advances received on contracts in progress | 46 | €23,892 | €23,799 | -€93 | -0.4% |
| Taxes, remuneration and social security | 45 | €2,644 | €22,064 | +€19,420 | +734% |
| Taxes | 450/3 | - | €19,420 | +€19,420 | |
| Remuneration and social security | 454/9 | €2,644 | €2,644 | = | 0.0% |
| Other amounts payable | 47/48 | €70,802 | €65,875 | -€4,927 | -7.0% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Non-recurring operating income | 76A | €15,776 | €441,766 | +€425,990 | +2,700% |
| Remuneration, social security and pensions | 62 | -€10,907 | €968 | +€11,875 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,652 | €58,197 | -€19,455 | -25.1% |
| Other operating charges | 640/8 | €18,744 | €25,137 | +€6,393 | +34.1% |
| Gross operating margin | 9900 | -€88,357 | €270,274 | +€358,631 | |
| Operating profit (loss) | 9901 | -€173,846 | €185,972 | +€359,818 | |
| Financial income | 75/76B | €116 | €5 | -€112 | -96.1% |
| Recurring financial income | 75 | €116 | €5 | -€112 | -96.1% |
| Financial charges | 65/66B | €6,627 | €8,650 | +€2,023 | +30.5% |
| Recurring financial charges | 65 | €6,627 | €8,650 | +€2,023 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | -€180,357 | €177,326 | +€357,684 | |
| Transfer from deferred taxes | 780 | €10,457 | €7,416 | -€3,042 | -29.1% |
| Income taxes | 67/77 | - | €19,422 | +€19,422 | |
| Profit (loss) for the period | 9904 | -€169,900 | €165,320 | +€335,220 | |
| Transfer from tax-exempt reserves | 789 | €20,309 | €14,402 | -€5,907 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,591 | €179,722 | +€329,313 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.