TOPHILL MANAGEMENT: 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.
TOPHILL MANAGEMENT
Largest movements
- Cash +€31,096
up €31,096 (+25.6%), from €121,633 to €152,730
mainly Other debts (+€124,100) and Net result for the year (+€37,454)
- Other debts +€124,100
new in 2025: €124,100
- Profit (loss) carried forward -€108,546
down €108,546 (-99.8%), from €108,738 to €192
- Trade debts +€9,185
up €9,185 (+715%), from €1,284 to €10,468
- Tax, wage and social debts +€8,641
up €8,641 (+29.0%), from €29,844 to €38,486
of which Taxes: +€8,178
- Gross operating margin -€7,381
down €7,381 (-11.9%), from €61,990 to €54,609
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 | €146,619 | €178,246 | +€31,627 | +21.6% |
| Fixed assets | 21/28 | €1,648 | €918 | -€730 | -44.3% |
| Tangible fixed assets | 22/27 | €1,648 | €918 | -€730 | -44.3% |
| Furniture and vehicles | 24 | €1,648 | €918 | -€730 | -44.3% |
| Current assets | 29/58 | €144,971 | €177,328 | +€32,357 | +22.3% |
| Amounts receivable within one year | 40/41 | €22,850 | €23,935 | +€1,085 | +4.7% |
| Trade receivables | 40 | €20,167 | €14,742 | -€5,425 | -26.9% |
| Other amounts receivable | 41 | €2,683 | €9,193 | +€6,510 | +243% |
| Cash at bank and in hand | 54/58 | €121,633 | €152,730 | +€31,096 | +25.6% |
| Deferred charges and accrued income | 490/1 | €487 | €664 | +€176 | +36.1% |
| Total equity and liabilities | 10/49 | €146,619 | €178,246 | +€31,627 | +21.6% |
| Equity | 10/15 | €113,738 | €5,192 | -€108,546 | -95.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,738 | €192 | -€108,546 | -99.8% |
| Amounts payable | 17/49 | €32,881 | €173,054 | +€140,173 | +426% |
| Amounts payable within one year | 42/48 | €31,128 | €173,054 | +€141,926 | +456% |
| Trade debts | 44 | €1,284 | €10,468 | +€9,185 | +715% |
| Suppliers | 440/4 | €1,284 | €10,468 | +€9,185 | +715% |
| Taxes, remuneration and social security | 45 | €29,844 | €38,486 | +€8,641 | +29.0% |
| Taxes | 450/3 | €29,844 | €38,022 | +€8,178 | +27.4% |
| Remuneration and social security | 454/9 | - | €463 | +€463 | |
| Other amounts payable | 47/48 | - | €124,100 | +€124,100 | |
| Accrued charges and deferred income | 492/3 | €1,753 | - | -€1,753 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €730 | €730 | = | 0.0% |
| Other operating charges | 640/8 | €2,683 | €2,462 | -€221 | -8.2% |
| Gross operating margin | 9900 | €61,990 | €54,609 | -€7,381 | -11.9% |
| Operating profit (loss) | 9901 | €58,577 | €51,417 | -€7,160 | -12.2% |
| Financial income | 75/76B | €123 | €322 | +€199 | +161% |
| Recurring financial income | 75 | €123 | €322 | +€199 | +161% |
| Financial charges | 65/66B | €295 | €194 | -€101 | -34.1% |
| Recurring financial charges | 65 | €295 | €194 | -€101 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €58,405 | €51,545 | -€6,861 | -11.7% |
| Income taxes | 67/77 | €14,465 | €14,090 | -€375 | -2.6% |
| Profit (loss) for the period | 9904 | €43,940 | €37,454 | -€6,486 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,940 | €37,454 | -€6,486 | -14.8% |
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 27 October 2026 via checked.be.