TOPOLINO: 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.
TOPOLINO
Largest movements
- Tangible fixed assets -€21,963
down €21,963 (-6.8%), from €321,823 to €299,860
of which Land and buildings: -€22,945
- Cash +€7,679
up €7,679 (+768%), from €1,000 to €8,680
mainly Depreciation (+€38,863) and Trade debts (+€6,707)
- Other debts -€17,205
down €17,205 (-69.4%), from €24,807 to €7,602
- Profit (loss) carried forward +€6,790
up €6,790 (+15.0%), from €45,255 to €52,045
- Trade debts +€6,707
up €6,707 (+4,434%), from €151 to €6,858
- Revaluation surpluses -€6,043
down €6,043 (-4.2%), from €145,024 to €138,982
- Financial income +€40,019
up €40,019 (+482%), from €8,296 to €48,315
- Depreciation -€3,816
down €3,816 (-8.9%), from €42,679 to €38,863
- Financial charges +€2,517
up €2,517 (+1,448%), from €174 to €2,690
- Taxes -€761
down €761, from €0 to -€761
- Gross operating margin -€436
down €436 (-6.8%), from €6,425 to €5,989
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 | €601,148 | €598,138 | -€3,010 | -0.5% |
| Fixed assets | 21/28 | €321,823 | €299,860 | -€21,963 | -6.8% |
| Tangible fixed assets | 22/27 | €321,823 | €299,860 | -€21,963 | -6.8% |
| Land and buildings | 22 | €303,343 | €280,398 | -€22,945 | -7.6% |
| Plant, machinery and equipment | 23 | €14,424 | €17,100 | +€2,676 | +18.6% |
| Furniture and vehicles | 24 | €4,056 | €2,362 | -€1,694 | -41.8% |
| Current assets | 29/58 | €279,325 | €298,278 | +€18,953 | +6.8% |
| Amounts receivable within one year | 40/41 | €3,950 | €8,970 | +€5,020 | +127% |
| Trade receivables | 40 | €1,461 | €0 | -€1,461 | -100% |
| Other amounts receivable | 41 | €2,489 | €8,970 | +€6,481 | +260% |
| Current investments | 50/53 | €274,374 | €279,573 | +€5,199 | +1.9% |
| Cash at bank and in hand | 54/58 | €1,000 | €8,680 | +€7,679 | +768% |
| Deferred charges and accrued income | 490/1 | €0 | €1,055 | +€1,055 | |
| Total equity and liabilities | 10/49 | €601,148 | €598,138 | -€3,010 | -0.5% |
| Equity | 10/15 | €576,190 | €582,004 | +€5,813 | +1.0% |
| Contributions | 10/11 | €80,695 | €80,695 | = | 0.0% |
| Revaluation surpluses | 12 | €145,024 | €138,982 | -€6,043 | -4.2% |
| Reserves | 13 | €305,215 | €310,282 | +€5,066 | +1.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €12,798 | €11,821 | -€976 | -7.6% |
| Distributable reserves | 133 | €292,418 | €298,460 | +€6,043 | +2.1% |
| Profit (loss) carried forward | 14 | €45,255 | €52,045 | +€6,790 | +15.0% |
| Amounts payable | 17/49 | €24,958 | €16,135 | -€8,823 | -35.4% |
| Amounts payable within one year | 42/48 | €24,958 | €14,460 | -€10,498 | -42.1% |
| Trade debts | 44 | €151 | €6,858 | +€6,707 | +4,434% |
| Suppliers | 440/4 | €151 | €6,858 | +€6,707 | +4,434% |
| Other amounts payable | 47/48 | €24,807 | €7,602 | -€17,205 | -69.4% |
| Accrued charges and deferred income | 492/3 | - | €1,675 | +€1,675 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,679 | €38,863 | -€3,816 | -8.9% |
| Other operating charges | 640/8 | €7,853 | €7,699 | -€154 | -2.0% |
| Gross operating margin | 9900 | €6,425 | €5,989 | -€436 | -6.8% |
| Operating profit (loss) | 9901 | -€44,107 | -€40,573 | +€3,534 | +8.0% |
| Financial income | 75/76B | €8,296 | €48,315 | +€40,019 | +482% |
| Recurring financial income | 75 | €8,296 | €48,315 | +€40,019 | +482% |
| Financial charges | 65/66B | €174 | €2,690 | +€2,517 | +1,448% |
| Recurring financial charges | 65 | €174 | €2,690 | +€2,517 | +1,448% |
| Profit (loss) for the period before taxes | 9903 | -€35,984 | €5,052 | +€41,036 | |
| Income taxes | 67/77 | €0 | -€761 | -€761 | |
| Profit (loss) for the period | 9904 | -€35,984 | €5,813 | +€41,797 | |
| Transfer from tax-exempt reserves | 789 | €976 | €976 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,008 | €6,790 | +€41,797 |
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.