TOPFOK: 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.
TOPFOK
Largest movements
- Receivables within one year +€76,184
up €76,184 (+11.3%), from €676,671 to €752,855
of which Other amounts receivable: +€162,682
- Tangible fixed assets -€24,695
down €24,695 (-35.7%), from €69,192 to €44,497
of which Land and buildings: -€20,283
- Stocks and contracts -€24,114
down €24,114 (-7.0%), from €344,324 to €320,210
- Reserves +€125,000
up €125,000 (+33.3%), from €375,000 to €500,000
- Trade debts -€116,446
down €116,446 (-43.6%), from €266,840 to €150,394
- Profit (loss) carried forward +€23,902
up €23,902 (+55.4%), from €43,119 to €67,021
- Gross operating margin +€14,394
up €14,394 (+7.2%), from €199,331 to €213,725
- Financial income +€9,432
up €9,432 (+56.7%), from €16,625 to €26,056
- Taxes +€6,960
up €6,960 (+16.2%), from €43,035 to €49,995
- Depreciation -€6,257
down €6,257 (-20.2%), from €30,951 to €24,695
- Other operating charges +€2,478
up €2,478 (+19.8%), from €12,541 to €15,019
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 | €1,215,256 | €1,254,878 | +€39,622 | +3.3% |
| Fixed assets | 21/28 | €69,192 | €48,747 | -€20,445 | -29.5% |
| Tangible fixed assets | 22/27 | €69,192 | €44,497 | -€24,695 | -35.7% |
| Land and buildings | 22 | €60,779 | €40,496 | -€20,283 | -33.4% |
| Plant, machinery and equipment | 23 | €8,413 | €4,002 | -€4,411 | -52.4% |
| Financial fixed assets | 28 | - | €4,250 | +€4,250 | |
| Current assets | 29/58 | €1,146,064 | €1,206,130 | +€60,067 | +5.2% |
| Stocks and contracts in progress | 3 | €344,324 | €320,210 | -€24,114 | -7.0% |
| Stocks | 30/36 | €344,324 | €320,210 | -€24,114 | -7.0% |
| Amounts receivable within one year | 40/41 | €676,671 | €752,855 | +€76,184 | +11.3% |
| Trade receivables | 40 | €86,498 | - | -€86,498 | |
| Other amounts receivable | 41 | €590,173 | €752,855 | +€162,682 | +27.6% |
| Cash at bank and in hand | 54/58 | €120,425 | €129,387 | +€8,962 | +7.4% |
| Deferred charges and accrued income | 490/1 | €4,643 | €3,677 | -€966 | -20.8% |
| Total equity and liabilities | 10/49 | €1,215,256 | €1,254,878 | +€39,622 | +3.3% |
| Equity | 10/15 | €843,119 | €992,021 | +€148,902 | +17.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €375,000 | €500,000 | +€125,000 | +33.3% |
| Distributable reserves | 133 | €375,000 | €500,000 | +€125,000 | +33.3% |
| Profit (loss) carried forward | 14 | €43,119 | €67,021 | +€23,902 | +55.4% |
| Provisions and deferred taxes | 16 | €96,850 | €96,850 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €96,850 | €96,850 | = | 0.0% |
| Environmental obligations | 163 | €96,850 | €96,850 | = | 0.0% |
| Amounts payable | 17/49 | €275,287 | €166,007 | -€109,280 | -39.7% |
| Amounts payable within one year | 42/48 | €269,840 | €160,394 | -€109,446 | -40.6% |
| Trade debts | 44 | €266,840 | €150,394 | -€116,446 | -43.6% |
| Suppliers | 440/4 | €266,840 | €150,394 | -€116,446 | -43.6% |
| Taxes, remuneration and social security | 45 | €3,000 | €10,000 | +€7,000 | +233.3% |
| Taxes | 450/3 | €3,000 | €10,000 | +€7,000 | +233.3% |
| Accrued charges and deferred income | 492/3 | €5,447 | €5,612 | +€166 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,951 | €24,695 | -€6,257 | -20.2% |
| Other operating charges | 640/8 | €12,541 | €15,019 | +€2,478 | +19.8% |
| Gross operating margin | 9900 | €199,331 | €213,725 | +€14,394 | +7.2% |
| Operating profit (loss) | 9901 | €155,839 | €174,012 | +€18,173 | +11.7% |
| Financial income | 75/76B | €16,625 | €26,056 | +€9,432 | +56.7% |
| Recurring financial income | 75 | €16,625 | €26,056 | +€9,432 | +56.7% |
| Financial charges | 65/66B | €1,234 | €1,171 | -€63 | -5.1% |
| Recurring financial charges | 65 | €1,234 | €1,171 | -€63 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €171,230 | €198,897 | +€27,667 | +16.2% |
| Income taxes | 67/77 | €43,035 | €49,995 | +€6,960 | +16.2% |
| Profit (loss) for the period | 9904 | €128,195 | €148,902 | +€20,707 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,195 | €148,902 | +€20,707 | +16.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.