TOPORAMA: 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.
TOPORAMA
Largest movements
- Receivables within one year +€83,179
up €83,179 (+48.5%), from €171,513 to €254,692
of which Trade receivables: +€84,673
- Cash -€50,395
down €50,395 (-36.1%), from €139,408 to €89,013
mainly Contributions, distributions and other (-€140,000) and Receivables within one year (-€83,179)
- Intangible fixed assets -€7,000
down €7,000 (-19.5%), from €35,842 to €28,842
- Other debts +€40,998
up €40,998 (+19.5%), from €210,765 to €251,763
- Debts after one year -€30,506
down €30,506 (-27.6%), from €110,665 to €80,159
- Reserves +€24,432
up €24,432 (+20.1%), from €121,551 to €145,983
- Current portion of long-term debt -€20,240
down €20,240 (-39.9%), from €50,746 to €30,506
- Tax, wage and social debts +€15,657
up €15,657 (+25.2%), from €62,228 to €77,885
of which Remuneration and social security: +€19,850
- Gross operating margin +€123,725
up €123,725 (+37.4%), from €330,867 to €454,592
- Staff costs +€41,802
up €41,802 (+27.6%), from €151,644 to €193,447
- Depreciation -€17,185
down €17,185 (-20.0%), from €85,822 to €68,638
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 | €610,092 | €637,800 | +€27,708 | +4.5% |
| Fixed assets | 21/28 | €289,867 | €285,174 | -€4,693 | -1.6% |
| Intangible fixed assets | 21 | €35,842 | €28,842 | -€7,000 | -19.5% |
| Tangible fixed assets | 22/27 | €254,025 | €256,333 | +€2,307 | +0.9% |
| Plant, machinery and equipment | 23 | €42,918 | €61,402 | +€18,484 | +43.1% |
| Furniture and vehicles | 24 | €74,577 | €77,095 | +€2,518 | +3.4% |
| Other tangible fixed assets | 26 | €136,530 | €117,836 | -€18,695 | -13.7% |
| Current assets | 29/58 | €320,225 | €352,626 | +€32,401 | +10.1% |
| Amounts receivable within one year | 40/41 | €171,513 | €254,692 | +€83,179 | +48.5% |
| Trade receivables | 40 | €170,017 | €254,690 | +€84,673 | +49.8% |
| Other amounts receivable | 41 | €1,496 | €2 | -€1,494 | -99.9% |
| Cash at bank and in hand | 54/58 | €139,408 | €89,013 | -€50,395 | -36.1% |
| Deferred charges and accrued income | 490/1 | €9,304 | €8,921 | -€383 | -4.1% |
| Total equity and liabilities | 10/49 | €610,092 | €637,800 | +€27,708 | +4.5% |
| Equity | 10/15 | €141,551 | €165,983 | +€24,432 | +17.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €121,551 | €145,983 | +€24,432 | +20.1% |
| Distributable reserves | 133 | €121,551 | €145,983 | +€24,432 | +20.1% |
| Amounts payable | 17/49 | €468,541 | €471,817 | +€3,276 | +0.7% |
| Amounts payable after more than one year | 17 | €110,665 | €80,159 | -€30,506 | -27.6% |
| Financial debts | 170/4 | €110,665 | €80,159 | -€30,506 | -27.6% |
| Amounts payable within one year | 42/48 | €356,849 | €390,818 | +€33,970 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €50,746 | €30,506 | -€20,240 | -39.9% |
| Trade debts | 44 | €33,110 | €30,664 | -€2,446 | -7.4% |
| Suppliers | 440/4 | €33,110 | €30,664 | -€2,446 | -7.4% |
| Taxes, remuneration and social security | 45 | €62,228 | €77,885 | +€15,657 | +25.2% |
| Taxes | 450/3 | €39,075 | €34,883 | -€4,192 | -10.7% |
| Remuneration and social security | 454/9 | €23,153 | €43,003 | +€19,850 | +85.7% |
| Other amounts payable | 47/48 | €210,765 | €251,763 | +€40,998 | +19.5% |
| Accrued charges and deferred income | 492/3 | €1,027 | €840 | -€188 | -18.3% |
| Remuneration, social security and pensions | 62 | €151,644 | €193,447 | +€41,802 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,822 | €68,638 | -€17,185 | -20.0% |
| Other operating charges | 640/8 | €3,007 | €3,156 | +€149 | +4.9% |
| Non-recurring operating charges | 66A | - | €2,079 | +€2,079 | |
| Gross operating margin | 9900 | €330,867 | €454,592 | +€123,725 | +37.4% |
| Operating profit (loss) | 9901 | €90,394 | €187,273 | +€96,879 | +107.2% |
| Financial income | 75/76B | €540 | €301 | -€238 | -44.2% |
| Recurring financial income | 75 | €540 | €301 | -€238 | -44.2% |
| Financial charges | 65/66B | €14,762 | €12,996 | -€1,766 | -12.0% |
| Recurring financial charges | 65 | €14,762 | €12,996 | -€1,766 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €76,171 | €174,578 | +€98,407 | +129.2% |
| Income taxes | 67/77 | €8,661 | €10,146 | +€1,485 | +17.1% |
| Profit (loss) for the period | 9904 | €67,510 | €164,432 | +€96,922 | +143.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,510 | €164,432 | +€96,922 | +143.6% |
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 12 October 2026 via checked.be.