Topinco: 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.
Topinco
Largest movements
- Current investments -€13.1m
down €13.1m (-100%), from €13.1m to €0
- Receivables within one year -€5.5m
down €5.5m (-49.0%), from €11.2m to €5.7m
- Deferred charges and accrued income -€412,586
down €412,586 (-87.7%), from €470,421 to €57,835
- Reserves -€19.6m
down €19.6m (-67.9%), from €28.9m to €9.3m
- Current portion of long-term debt -€10.9m
down €10.9m (-100%), from €10.9m to €0
- Other debts +€9.9m
up €9.9m (+780%), from €1.3m to €11.1m
- Tax, wage and social debts +€1.8m
up €1.8m (+11,046%), from €16,322 to €1.8m
of which Taxes: +€1.8m
- Financial income -€11.9m
down €11.9m (-95.9%), from €12.4m to €511,830
- Financial charges -€484,970
down €484,970 (-73.5%), from €659,543 to €174,573
- Taxes +€21,518
up €21,518 (+15.3%), from €140,941 to €162,459
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 | €41,180,043 | €22,358,195 | -€18.8m | -45.7% |
| Fixed assets | 21/28 | €16,242,414 | €16,267,074 | +€24,660 | +0.2% |
| Tangible fixed assets | 22/27 | €18,651 | €43,311 | +€24,660 | +132% |
| Land and buildings | 22 | - | €38,610 | +€38,610 | |
| Furniture and vehicles | 24 | €18,651 | €4,701 | -€13,950 | -74.8% |
| Financial fixed assets | 28 | €16,223,763 | €16,223,763 | = | 0.0% |
| Current assets | 29/58 | €24,937,629 | €6,091,121 | -€18.8m | -75.6% |
| Amounts receivable within one year | 40/41 | €11,248,557 | €5,736,037 | -€5.5m | -49.0% |
| Other amounts receivable | 41 | €11,248,557 | €5,736,037 | -€5.5m | -49.0% |
| Current investments | 50/53 | €13,065,000 | €0 | -€13.1m | -100% |
| Cash at bank and in hand | 54/58 | €153,651 | €297,249 | +€143,598 | +93.5% |
| Deferred charges and accrued income | 490/1 | €470,421 | €57,835 | -€412,586 | -87.7% |
| Total equity and liabilities | 10/49 | €41,180,043 | €22,358,195 | -€18.8m | -45.7% |
| Equity | 10/15 | €28,964,980 | €9,349,091 | -€19.6m | -67.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €28,903,480 | €9,287,591 | -€19.6m | -67.9% |
| Distributable reserves | 133 | €28,903,480 | €9,287,591 | -€19.6m | -67.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,215,063 | €13,009,104 | +€794,041 | +6.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €12,215,063 | €12,943,095 | +€728,033 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €10,934,752 | €0 | -€10.9m | -100% |
| Trade debts | 44 | €628 | €3,694 | +€3,066 | +488% |
| Suppliers | 440/4 | €628 | €3,694 | +€3,066 | +488% |
| Taxes, remuneration and social security | 45 | €16,322 | €1,819,204 | +€1.8m | +11,046% |
| Taxes | 450/3 | €16,287 | €1,816,024 | +€1.8m | +11,050% |
| Remuneration and social security | 454/9 | €34 | €3,180 | +€3,146 | +9,133% |
| Other amounts payable | 47/48 | €1,263,361 | €11,120,197 | +€9.9m | +780% |
| Accrued charges and deferred income | 492/3 | €0 | €66,008 | +€66,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,950 | €15,713 | +€1,763 | +12.6% |
| Other operating charges | 640/8 | €1,415 | €1,588 | +€173 | +12.2% |
| Gross operating margin | 9900 | €327,104 | €326,615 | -€488 | -0.1% |
| Operating profit (loss) | 9901 | €311,739 | €309,314 | -€2,425 | -0.8% |
| Financial income | 75/76B | €12,403,185 | €511,830 | -€11.9m | -95.9% |
| Recurring financial income | 75 | €12,403,185 | €511,830 | -€11.9m | -95.9% |
| Financial charges | 65/66B | €659,543 | €174,573 | -€484,970 | -73.5% |
| Recurring financial charges | 65 | €659,543 | €174,573 | -€484,970 | -73.5% |
| Profit (loss) for the period before taxes | 9903 | €12,055,381 | €646,571 | -€11.4m | -94.6% |
| Income taxes | 67/77 | €140,941 | €162,459 | +€21,518 | +15.3% |
| Profit (loss) for the period | 9904 | €11,914,440 | €484,111 | -€11.4m | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,914,440 | €484,111 | -€11.4m | -95.9% |
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 15 October 2026 via checked.be.