TOPLOCATION: 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.
TOPLOCATION
Largest movements
- Cash +€219,604
up €219,604 (+59.2%), from €371,059 to €590,662
mainly Depreciation (+€193,451) and Net result for the year (+€154,027)
- Tangible fixed assets -€193,451
down €193,451 (-4.9%), from €3.9m to €3.7m
- Reserves +€111,170
up €111,170 (+8.7%), from €1.3m to €1.4m
of which Distributable reserves: +€122,024
- Debts after one year -€103,200
down €103,200 (-9.4%), from €1.1m to €994,215
of which Financial debts: -€103,714
- Gross operating margin -€93,555
down €93,555 (-18.1%), from €518,158 to €424,602
- Financial income +€33,394
up €33,394 (+644.7%), from €5,179 to €38,574
of which Non-recurring financial income: +€35,763
- Other operating charges -€18,879
down €18,879 (-38.6%), from €48,932 to €30,053
- Financial charges -€8,938
down €8,938 (-42.8%), from €20,867 to €11,929
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 | €5,172,352 | €5,183,193 | +€10,841 | +0.2% |
| Fixed assets | 21/28 | €4,783,218 | €4,589,767 | -€193,451 | -4.0% |
| Tangible fixed assets | 22/27 | €3,943,218 | €3,749,767 | -€193,451 | -4.9% |
| Land and buildings | 22 | €3,943,218 | €3,749,767 | -€193,451 | -4.9% |
| Financial fixed assets | 28 | €840,000 | €840,000 | = | 0.0% |
| Current assets | 29/58 | €389,134 | €593,426 | +€204,292 | +52.5% |
| Amounts receivable within one year | 40/41 | €4,049 | €2,764 | -€1,285 | -31.7% |
| Trade receivables | 40 | €2,790 | €2,221 | -€569 | -20.4% |
| Other amounts receivable | 41 | €1,259 | €543 | -€717 | -56.9% |
| Cash at bank and in hand | 54/58 | €371,059 | €590,662 | +€219,604 | +59.2% |
| Deferred charges and accrued income | 490/1 | €14,026 | - | -€14,026 | |
| Total equity and liabilities | 10/49 | €5,172,352 | €5,183,193 | +€10,841 | +0.2% |
| Equity | 10/15 | €3,748,663 | €3,859,833 | +€111,170 | +3.0% |
| Contributions | 10/11 | €2,470,000 | €2,470,000 | = | 0.0% |
| Capital | 10 | €2,470,000 | €2,470,000 | = | 0.0% |
| Issued capital | 100 | €2,470,000 | €2,470,000 | = | 0.0% |
| Reserves | 13 | €1,278,663 | €1,389,833 | +€111,170 | +8.7% |
| Non-distributable reserves | 130/1 | €95,602 | €105,148 | +€9,546 | +10.0% |
| Legal reserve | 130 | €95,602 | €105,148 | +€9,546 | +10.0% |
| Tax-exempt reserves | 132 | €285,605 | €265,204 | -€20,400 | -7.1% |
| Distributable reserves | 133 | €897,456 | €1,019,480 | +€122,024 | +13.6% |
| Provisions and deferred taxes | 16 | €147,064 | €136,560 | -€10,505 | -7.1% |
| Deferred taxes | 168 | €147,064 | €136,560 | -€10,505 | -7.1% |
| Amounts payable | 17/49 | €1,276,625 | €1,186,801 | -€89,824 | -7.0% |
| Amounts payable after more than one year | 17 | €1,097,415 | €994,215 | -€103,200 | -9.4% |
| Financial debts | 170/4 | €1,085,823 | €982,109 | -€103,714 | -9.6% |
| Other amounts payable | 178/9 | €11,592 | €12,106 | +€514 | +4.4% |
| Amounts payable within one year | 42/48 | €159,097 | €173,492 | +€14,395 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €123,838 | €104,714 | -€19,124 | -15.4% |
| Trade debts | 44 | €23,145 | €9,079 | -€14,066 | -60.8% |
| Suppliers | 440/4 | €23,145 | €9,079 | -€14,066 | -60.8% |
| Taxes, remuneration and social security | 45 | €889 | €19,307 | +€18,418 | +2071.8% |
| Taxes | 450/3 | €889 | €19,307 | +€18,418 | +2071.8% |
| Other amounts payable | 47/48 | €11,225 | €40,392 | +€29,167 | +259.8% |
| Accrued charges and deferred income | 492/3 | €20,114 | €19,094 | -€1,019 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193,451 | €193,451 | = | 0.0% |
| Other operating charges | 640/8 | €48,932 | €30,053 | -€18,879 | -38.6% |
| Gross operating margin | 9900 | €518,158 | €424,602 | -€93,555 | -18.1% |
| Operating profit (loss) | 9901 | €275,774 | €201,098 | -€74,676 | -27.1% |
| Financial income | 75/76B | €5,179 | €38,574 | +€33,394 | +644.7% |
| Recurring financial income | 75 | €5,179 | €2,811 | -€2,369 | -45.7% |
| Non-recurring financial income | 76B | - | €35,763 | +€35,763 | |
| Financial charges | 65/66B | €20,867 | €11,929 | -€8,938 | -42.8% |
| Recurring financial charges | 65 | €20,867 | €11,929 | -€8,938 | -42.8% |
| Profit (loss) for the period before taxes | 9903 | €260,087 | €227,743 | -€32,344 | -12.4% |
| Transfer from deferred taxes | 780 | €10,505 | €10,505 | = | 0.0% |
| Income taxes | 67/77 | €79,553 | €84,221 | +€4,668 | +5.9% |
| Profit (loss) for the period | 9904 | €191,039 | €154,027 | -€37,012 | -19.4% |
| Transfer from tax-exempt reserves | 789 | €20,400 | €20,400 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €211,439 | €174,427 | -€37,012 | -17.5% |
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 7 October 2026 via checked.be.