TOPMACO: 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.
TOPMACO
Largest movements
- Tangible fixed assets -€5,381
down €5,381 (-1.8%), from €294,914 to €289,533
of which Land and buildings: -€15,827
- Debts after one year -€26,993
down €26,993 (-18.0%), from €150,231 to €123,238
- Short-term financial debts +€22,725
new in 2025: €22,725
- Trade debts +€13,465
up €13,465 (+153.5%), from €8,775 to €22,240
- Profit (loss) carried forward -€9,708
new in 2025: -€9,708
- Reserves -€4,913
down €4,913 (-8.1%), from €60,411 to €55,498
of which Tax-exempt reserves: -€4,913
- Gross operating margin -€39,321
down €39,321 (-73.8%), from €53,265 to €13,944
- Financial charges +€3,307
up €3,307 (+51.0%), from €6,480 to €9,787
- Other operating charges +€2,555
up €2,555 (+103.6%), from €2,467 to €5,022
- Taxes -€794
down €794 (-84.6%), from €938 to €144
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 | €298,156 | €290,390 | -€7,767 | -2.6% |
| Fixed assets | 21/28 | €294,914 | €289,533 | -€5,381 | -1.8% |
| Tangible fixed assets | 22/27 | €294,914 | €289,533 | -€5,381 | -1.8% |
| Land and buildings | 22 | €294,914 | €279,088 | -€15,827 | -5.4% |
| Plant, machinery and equipment | 23 | - | €1,351 | +€1,351 | |
| Furniture and vehicles | 24 | - | €9,094 | +€9,094 | |
| Current assets | 29/58 | €3,242 | €856 | -€2,386 | -73.6% |
| Amounts receivable within one year | 40/41 | €1,022 | - | -€1,022 | |
| Trade receivables | 40 | €340 | - | -€340 | |
| Other amounts receivable | 41 | €682 | - | -€682 | |
| Cash at bank and in hand | 54/58 | €1,423 | €4 | -€1,419 | -99.7% |
| Deferred charges and accrued income | 490/1 | €797 | €852 | +€55 | +6.9% |
| Total equity and liabilities | 10/49 | €298,156 | €290,390 | -€7,767 | -2.6% |
| Equity | 10/15 | €79,411 | €64,790 | -€14,621 | -18.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €60,411 | €55,498 | -€4,913 | -8.1% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,130 | €44,217 | -€4,913 | -10.0% |
| Distributable reserves | 133 | €9,382 | €9,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,708 | -€9,708 | |
| Provisions and deferred taxes | 16 | €25,298 | €22,768 | -€2,530 | -10.0% |
| Deferred taxes | 168 | €25,298 | €22,768 | -€2,530 | -10.0% |
| Amounts payable | 17/49 | €193,447 | €202,831 | +€9,384 | +4.9% |
| Amounts payable after more than one year | 17 | €150,231 | €123,238 | -€26,993 | -18.0% |
| Financial debts | 170/4 | €150,231 | €123,238 | -€26,993 | -18.0% |
| Amounts payable within one year | 42/48 | €43,216 | €79,593 | +€36,377 | +84.2% |
| Current portion of amounts payable after more than one year | 42 | €32,247 | €32,404 | +€157 | +0.5% |
| Financial debts | 43 | - | €22,725 | +€22,725 | |
| Credit institutions | 430/8 | - | €22,725 | +€22,725 | |
| Trade debts | 44 | €8,775 | €22,240 | +€13,465 | +153.5% |
| Suppliers | 440/4 | €8,775 | €22,240 | +€13,465 | +153.5% |
| Taxes, remuneration and social security | 45 | €2,194 | €2,008 | -€186 | -8.5% |
| Taxes | 450/3 | €2,194 | €2,008 | -€186 | -8.5% |
| Other amounts payable | 47/48 | - | €216 | +€216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,827 | €16,153 | +€326 | +2.1% |
| Other operating charges | 640/8 | €2,467 | €5,022 | +€2,555 | +103.6% |
| Gross operating margin | 9900 | €53,265 | €13,944 | -€39,321 | -73.8% |
| Operating profit (loss) | 9901 | €34,971 | -€7,231 | -€42,202 | |
| Financial income | 75/76B | €25 | €11 | -€14 | -56.4% |
| Recurring financial income | 75 | €25 | €11 | -€14 | -56.4% |
| Financial charges | 65/66B | €6,480 | €9,787 | +€3,307 | +51.0% |
| Recurring financial charges | 65 | €6,480 | €9,787 | +€3,307 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €28,517 | -€17,007 | -€45,523 | |
| Transfer from deferred taxes | 780 | €2,530 | €2,530 | = | 0.0% |
| Income taxes | 67/77 | €938 | €144 | -€794 | -84.6% |
| Profit (loss) for the period | 9904 | €30,108 | -€14,621 | -€44,729 | |
| Transfer from tax-exempt reserves | 789 | €4,913 | €4,913 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,021 | -€9,708 | -€44,729 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.