TOPO-IMMO: 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.
TOPO-IMMO
Largest movements
- Tangible fixed assets +€63,179
up €63,179 (+39.9%), from €158,396 to €221,576
of which Other tangible fixed assets: +€63,007
- Cash +€51,645
up €51,645 (+43.1%), from €119,814 to €171,459
mainly Trade debts (+€142,050) and Net result for the year (+€128,317)
- Receivables within one year +€23,419
up €23,419 (+1.8%), from €1.3m to €1.3m
of which Trade receivables: +€14,800
- Trade debts +€142,050
up €142,050 (+160%), from €88,704 to €230,754
- Reserves -€121,683
down €121,683 (-21.0%), from €580,470 to €458,787
- Short-term financial debts +€83,294
up €83,294 (+15.9%), from €525,355 to €608,649
- Gross operating margin -€54,532
down €54,532 (-3.8%), from €1.4m to €1.4m
- Staff costs +€44,512
up €44,512 (+4.2%), from €1.1m to €1.1m
- Taxes -€30,447
down €30,447 (-35.3%), from €86,215 to €55,768
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 | €1,710,186 | €1,851,563 | +€141,377 | +8.3% |
| Fixed assets | 21/28 | €287,787 | €354,294 | +€66,507 | +23.1% |
| Intangible fixed assets | 21 | €16,891 | €20,218 | +€3,327 | +19.7% |
| Tangible fixed assets | 22/27 | €158,396 | €221,576 | +€63,179 | +39.9% |
| Furniture and vehicles | 24 | €51,104 | €36,073 | -€15,031 | -29.4% |
| Leasing and similar rights | 25 | - | €15,203 | +€15,203 | |
| Other tangible fixed assets | 26 | €107,292 | €170,299 | +€63,007 | +58.7% |
| Financial fixed assets | 28 | €112,500 | €112,500 | = | 0.0% |
| Current assets | 29/58 | €1,422,398 | €1,497,269 | +€74,870 | +5.3% |
| Amounts receivable within one year | 40/41 | €1,290,070 | €1,313,489 | +€23,419 | +1.8% |
| Trade receivables | 40 | €1,253,458 | €1,268,258 | +€14,800 | +1.2% |
| Other amounts receivable | 41 | €36,612 | €45,231 | +€8,619 | +23.5% |
| Cash at bank and in hand | 54/58 | €119,814 | €171,459 | +€51,645 | +43.1% |
| Deferred charges and accrued income | 490/1 | €12,514 | €12,321 | -€193 | -1.5% |
| Total equity and liabilities | 10/49 | €1,710,186 | €1,851,563 | +€141,377 | +8.3% |
| Equity | 10/15 | €591,459 | €469,776 | -€121,683 | -20.6% |
| Contributions | 10/11 | €10,989 | €10,989 | = | 0.0% |
| Reserves | 13 | €580,470 | €458,787 | -€121,683 | -21.0% |
| Distributable reserves | 133 | €580,470 | €458,787 | -€121,683 | -21.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,118,727 | €1,381,787 | +€263,060 | +23.5% |
| Amounts payable after more than one year | 17 | €64,286 | €73,320 | +€9,034 | +14.1% |
| Financial debts | 170/4 | €64,286 | €73,320 | +€9,034 | +14.1% |
| Amounts payable within one year | 42/48 | €1,054,441 | €1,292,990 | +€238,549 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €14,196 | €30,805 | +€16,609 | +117% |
| Financial debts | 43 | €525,355 | €608,649 | +€83,294 | +15.9% |
| Credit institutions | 430/8 | €525,355 | €608,649 | +€83,294 | +15.9% |
| Trade debts | 44 | €88,704 | €230,754 | +€142,050 | +160% |
| Suppliers | 440/4 | €88,704 | €230,754 | +€142,050 | +160% |
| Taxes, remuneration and social security | 45 | €176,186 | €168,551 | -€7,635 | -4.3% |
| Taxes | 450/3 | €56,965 | €33,267 | -€23,698 | -41.6% |
| Remuneration and social security | 454/9 | €119,221 | €135,284 | +€16,063 | +13.5% |
| Other amounts payable | 47/48 | €250,000 | €254,232 | +€4,232 | +1.7% |
| Accrued charges and deferred income | 492/3 | €0 | €15,476 | +€15,476 | |
| Remuneration, social security and pensions | 62 | €1,059,266 | €1,103,778 | +€44,512 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,179 | €64,533 | +€8,354 | +14.9% |
| Other operating charges | 640/8 | €8,157 | €10,948 | +€2,791 | +34.2% |
| Gross operating margin | 9900 | €1,438,695 | €1,384,163 | -€54,532 | -3.8% |
| Operating profit (loss) | 9901 | €315,094 | €204,904 | -€110,190 | -35.0% |
| Financial income | 75/76B | €1,431 | €147 | -€1,284 | -89.7% |
| Recurring financial income | 75 | €1,431 | €147 | -€1,284 | -89.7% |
| Financial charges | 65/66B | €23,129 | €20,967 | -€2,162 | -9.3% |
| Recurring financial charges | 65 | €23,129 | €20,967 | -€2,162 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €293,396 | €184,085 | -€109,311 | -37.3% |
| Income taxes | 67/77 | €86,215 | €55,768 | -€30,447 | -35.3% |
| Profit (loss) for the period | 9904 | €207,181 | €128,317 | -€78,864 | -38.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €207,181 | €128,317 | -€78,864 | -38.1% |
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 24 October 2026 via checked.be.