TOPPAKO CAPITAL: 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.
TOPPAKO CAPITAL
Largest movements
- Receivables within one year +€4,931
up €4,931 (+34.4%), from €14,340 to €19,271
of which Trade receivables: +€9,500
- Cash -€356
down €356 (-3.7%), from €9,662 to €9,306
mainly Receivables within one year (-€4,931) and Short-term financial debts (-€221)
- Profit (loss) carried forward +€4,796
up €4,796 (+64.3%), from -€7,456 to -€2,660
- Financial charges -€10,154
down €10,154 (-98.7%), from €10,288 to €134
of which Non-recurring financial charges: -€10,170
- Gross operating margin +€5,972
up €5,972, from -€1,042 to €4,930
- Depreciation -€422
down €422 (-100%), from €422 to €0
- Taxes -€84
no longer reported in 2025 (was €84)
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 | €24,001 | €28,577 | +€4,575 | +19.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €24,001 | €28,577 | +€4,575 | +19.1% |
| Amounts receivable within one year | 40/41 | €14,340 | €19,271 | +€4,931 | +34.4% |
| Trade receivables | 40 | - | €9,500 | +€9,500 | |
| Other amounts receivable | 41 | €14,340 | €9,771 | -€4,569 | -31.9% |
| Cash at bank and in hand | 54/58 | €9,662 | €9,306 | -€356 | -3.7% |
| Total equity and liabilities | 10/49 | €24,001 | €28,577 | +€4,575 | +19.1% |
| Equity | 10/15 | -€1,176 | €3,620 | +€4,796 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €80 | €80 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80 | €80 | = | 0.0% |
| Reserves not available under the articles | 1311 | €80 | €80 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,456 | -€2,660 | +€4,796 | +64.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €25,178 | €24,956 | -€221 | -0.9% |
| Amounts payable within one year | 42/48 | €25,178 | €24,956 | -€221 | -0.9% |
| Financial debts | 43 | €221 | €0 | -€221 | -100% |
| Credit institutions | 430/8 | €221 | €0 | -€221 | -100% |
| Trade debts | 44 | €24,956 | €24,956 | = | 0.0% |
| Suppliers | 440/4 | €24,956 | €24,956 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422 | €0 | -€422 | -100% |
| Gross operating margin | 9900 | -€1,042 | €4,930 | +€5,972 | |
| Operating profit (loss) | 9901 | -€1,464 | €4,930 | +€6,394 | |
| Financial charges | 65/66B | €10,288 | €134 | -€10,154 | -98.7% |
| Recurring financial charges | 65 | €117 | €134 | +€17 | +14.3% |
| Non-recurring financial charges | 66B | €10,170 | - | -€10,170 | |
| Profit (loss) for the period before taxes | 9903 | -€11,751 | €4,796 | +€16,548 | |
| Income taxes | 67/77 | €84 | - | -€84 | |
| Profit (loss) for the period | 9904 | -€11,836 | €4,796 | +€16,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,836 | €4,796 | +€16,632 |
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 23 October 2026 via checked.be.