TOPECON: 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.
TOPECON
Largest movements
- Receivables within one year -€47,114
no longer reported in 2025 (was €47,114)
of which Trade receivables: -€29,242
- Cash +€34,927
up €34,927 (+19.4%), from €179,669 to €214,595
mainly Net result for the year (+€1.7m) and Receivables within one year (+€47,114)
- Deferred charges and accrued income -€33,416
down €33,416 (-83.9%), from €39,813 to €6,398
- Tangible fixed assets -€18,387
down €18,387 (-92.6%), from €19,851 to €1,464
- Tax, wage and social debts -€47,147
down €47,147 (-54.4%), from €86,739 to €39,592
of which Taxes: -€44,304
- Other debts -€21,105
down €21,105 (-13.0%), from €162,525 to €141,420
- Profit (loss) carried forward +€8,388
up €8,388 (+71.3%), from €11,763 to €20,151
- Gross operating margin +€949,096
up €949,096 (+74.1%), from €1.3m to €2.2m
- Taxes +€232,050
up €232,050 (+72.9%), from €318,526 to €550,576
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 | €286,447 | €222,457 | -€63,990 | -22.3% |
| Fixed assets | 21/28 | €19,851 | €1,464 | -€18,387 | -92.6% |
| Tangible fixed assets | 22/27 | €19,851 | €1,464 | -€18,387 | -92.6% |
| Furniture and vehicles | 24 | €19,851 | €1,464 | -€18,387 | -92.6% |
| Current assets | 29/58 | €266,596 | €220,993 | -€45,603 | -17.1% |
| Amounts receivable within one year | 40/41 | €47,114 | - | -€47,114 | |
| Trade receivables | 40 | €29,242 | - | -€29,242 | |
| Other amounts receivable | 41 | €17,872 | - | -€17,872 | |
| Cash at bank and in hand | 54/58 | €179,669 | €214,595 | +€34,927 | +19.4% |
| Deferred charges and accrued income | 490/1 | €39,813 | €6,398 | -€33,416 | -83.9% |
| Total equity and liabilities | 10/49 | €286,447 | €222,457 | -€63,990 | -22.3% |
| Equity | 10/15 | €32,223 | €40,611 | +€8,388 | +26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,763 | €20,151 | +€8,388 | +71.3% |
| Amounts payable | 17/49 | €254,224 | €181,845 | -€72,378 | -28.5% |
| Amounts payable within one year | 42/48 | €252,382 | €181,269 | -€71,113 | -28.2% |
| Trade debts | 44 | €3,118 | €257 | -€2,860 | -91.7% |
| Suppliers | 440/4 | €3,118 | €257 | -€2,860 | -91.7% |
| Taxes, remuneration and social security | 45 | €86,739 | €39,592 | -€47,147 | -54.4% |
| Taxes | 450/3 | €83,895 | €39,592 | -€44,304 | -52.8% |
| Remuneration and social security | 454/9 | €2,843 | €0 | -€2,843 | -100.0% |
| Other amounts payable | 47/48 | €162,525 | €141,420 | -€21,105 | -13.0% |
| Accrued charges and deferred income | 492/3 | €1,842 | €576 | -€1,266 | -68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,387 | €18,387 | = | 0.0% |
| Other operating charges | 640/8 | €183 | €1,027 | +€845 | +462.1% |
| Gross operating margin | 9900 | €1,280,004 | €2,229,099 | +€949,096 | +74.1% |
| Operating profit (loss) | 9901 | €1,261,433 | €2,209,685 | +€948,251 | +75.2% |
| Financial income | 75/76B | €5,162 | €9,323 | +€4,161 | +80.6% |
| Recurring financial income | 75 | €5,162 | €9,323 | +€4,161 | +80.6% |
| Financial charges | 65/66B | €57 | €44 | -€12 | -21.8% |
| Recurring financial charges | 65 | €57 | €44 | -€12 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €1,266,539 | €2,218,964 | +€952,425 | +75.2% |
| Income taxes | 67/77 | €318,526 | €550,576 | +€232,050 | +72.9% |
| Profit (loss) for the period | 9904 | €948,013 | €1,668,388 | +€720,375 | +76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €948,013 | €1,668,388 | +€720,375 | +76.0% |
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 10 October 2026 via checked.be.