TOPIM: 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.
TOPIM
Largest movements
- Cash +€1.1m
up €1.1m (+1677.1%), from €68,339 to €1.2m
mainly Net result for the year (+€830,886) and Investment in fixed assets (net) (+€483,435)
- Tangible fixed assets -€577,880
down €577,880 (-49.2%), from €1.2m to €595,868
of which Land and buildings: -€559,546
- Receivables within one year +€56,750
new in 2025: €56,750
- Reserves +€830,750
up €830,750 (+342.3%), from €242,728 to €1.1m
of which Distributable reserves: +€830,750
- Debts after one year -€157,968
down €157,968 (-45.7%), from €345,793 to €187,825
of which Financial debts: -€148,948
- Current portion of long-term debt -€45,416
down €45,416 (-83.4%), from €54,435 to €9,019
- Gross operating margin +€1.1m
up €1.1m (+819.8%), from €140,231 to €1.3m
- Taxes +€365,224
new in 2025: €365,224
- Turnover -€59,635
down €59,635 (-41.2%), from €144,729 to €85,094
- Depreciation -€45,233
down €45,233 (-32.4%), from €139,677 to €94,444
- Financial income +€24,648
new in 2025: €24,648
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 | €1,242,087 | €1,867,044 | +€624,957 | +50.3% |
| Fixed assets | 21/28 | €1,173,747 | €595,868 | -€577,880 | -49.2% |
| Tangible fixed assets | 22/27 | €1,173,747 | €595,868 | -€577,880 | -49.2% |
| Land and buildings | 22 | €852,990 | €293,444 | -€559,546 | -65.6% |
| Other tangible fixed assets | 26 | €320,758 | €302,424 | -€18,333 | -5.7% |
| Current assets | 29/58 | €68,339 | €1,271,176 | +€1.2m | +1760.1% |
| Amounts receivable within one year | 40/41 | - | €56,750 | +€56,750 | |
| Other amounts receivable | 41 | - | €56,750 | +€56,750 | |
| Cash at bank and in hand | 54/58 | €68,339 | €1,214,426 | +€1.1m | +1677.1% |
| Total equity and liabilities | 10/49 | €1,242,087 | €1,867,044 | +€624,957 | +50.3% |
| Equity | 10/15 | €839,292 | €1,670,178 | +€830,886 | +99.0% |
| Contributions | 10/11 | €34,372 | €34,372 | = | 0.0% |
| Reserves | 13 | €242,728 | €1,073,478 | +€830,750 | +342.3% |
| Non-distributable reserves | 130/1 | €3,437 | €3,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,437 | €3,437 | = | 0.0% |
| Distributable reserves | 133 | €239,291 | €1,070,041 | +€830,750 | +347.2% |
| Profit (loss) carried forward | 14 | €562,192 | €562,328 | +€136 | 0.0% |
| Amounts payable | 17/49 | €402,794 | €196,866 | -€205,929 | -51.1% |
| Amounts payable after more than one year | 17 | €345,793 | €187,825 | -€157,968 | -45.7% |
| Financial debts | 170/4 | €148,948 | - | -€148,948 | |
| Other amounts payable | 178/9 | €196,844 | €187,825 | -€9,019 | -4.6% |
| Amounts payable within one year | 42/48 | €57,002 | €9,041 | -€47,961 | -84.1% |
| Current portion of amounts payable after more than one year | 42 | €54,435 | €9,019 | -€45,416 | -83.4% |
| Trade debts | 44 | €0 | €21 | +€21 | |
| Suppliers | 440/4 | €0 | €21 | +€21 | |
| Taxes, remuneration and social security | 45 | €2,566 | - | -€2,566 | |
| Taxes | 450/3 | €2,566 | - | -€2,566 | |
| Turnover | 70 | €144,729 | €85,094 | -€59,635 | -41.2% |
| Non-recurring operating income | 76A | - | €1,216,565 | +€1.2m | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,945 | €11,855 | +€1,910 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,677 | €94,444 | -€45,233 | -32.4% |
| Other operating charges | 640/8 | €14,436 | €12,093 | -€2,343 | -16.2% |
| Gross operating margin | 9900 | €140,231 | €1,289,804 | +€1.1m | +819.8% |
| Operating profit (loss) | 9901 | -€13,883 | €1,183,266 | +€1.2m | |
| Financial income | 75/76B | - | €24,648 | +€24,648 | |
| Recurring financial income | 75 | - | €24,648 | +€24,648 | |
| Financial charges | 65/66B | €11,975 | €11,805 | -€171 | -1.4% |
| Recurring financial charges | 65 | €11,975 | €11,805 | -€171 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,858 | €1,196,109 | +€1.2m | |
| Income taxes | 67/77 | - | €365,224 | +€365,224 | |
| Profit (loss) for the period | 9904 | -€25,858 | €830,886 | +€856,744 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,858 | €830,886 | +€856,744 |
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 3 October 2026 via checked.be.