TOPPIO: 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.
TOPPIO
Largest movements
- Receivables within one year -€72,119
down €72,119 (-28.4%), from €253,571 to €181,451
of which Other amounts receivable: -€66,238
- Receivables after one year -€44,251
down €44,251 (-4.1%), from €1.1m to €1.0m
- Tangible fixed assets -€21,430
down €21,430 (-10.7%), from €199,947 to €178,517
of which Leasing and similar rights: -€15,000
- Current portion of long-term debt -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Other debts -€49,972
down €49,972 (-7.7%), from €648,734 to €598,763
- Reserves +€20,946
up €20,946 (+3.3%), from €633,682 to €654,628
of which Distributable reserves: +€20,946
- Financial charges -€21,059
down €21,059 (-61.0%), from €34,519 to €13,459
- Other operating charges -€10,018
down €10,018 (-70.7%), from €14,171 to €4,154
- Gross operating margin -€9,913
down €9,913 (-18.6%), from €53,197 to €43,284
- Financial income -€5,902
down €5,902 (-16.6%), from €35,507 to €29,605
- Taxes +€3,737
up €3,737 (+49.4%), from €7,558 to €11,295
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 | €1,579,483 | €1,443,407 | -€136,076 | -8.6% |
| Fixed assets | 21/28 | €199,947 | €178,517 | -€21,430 | -10.7% |
| Tangible fixed assets | 22/27 | €199,947 | €178,517 | -€21,430 | -10.7% |
| Land and buildings | 22 | €130,417 | €123,251 | -€7,166 | -5.5% |
| Plant, machinery and equipment | 23 | €8,300 | €9,037 | +€736 | +8.9% |
| Leasing and similar rights | 25 | €61,230 | €46,230 | -€15,000 | -24.5% |
| Current assets | 29/58 | €1,379,536 | €1,264,889 | -€114,647 | -8.3% |
| Amounts receivable after more than one year | 29 | €1,089,386 | €1,045,136 | -€44,251 | -4.1% |
| Other amounts receivable | 291 | €1,089,386 | €1,045,136 | -€44,251 | -4.1% |
| Amounts receivable within one year | 40/41 | €253,571 | €181,451 | -€72,119 | -28.4% |
| Trade receivables | 40 | €5,882 | €0 | -€5,882 | -100% |
| Other amounts receivable | 41 | €247,689 | €181,451 | -€66,238 | -26.7% |
| Current investments | 50/53 | €8,722 | €11,861 | +€3,139 | +36.0% |
| Cash at bank and in hand | 54/58 | €8,725 | €6,802 | -€1,923 | -22.0% |
| Deferred charges and accrued income | 490/1 | €19,132 | €19,639 | +€507 | +2.7% |
| Total equity and liabilities | 10/49 | €1,579,483 | €1,443,407 | -€136,076 | -8.6% |
| Equity | 10/15 | €699,682 | €720,628 | +€20,946 | +3.0% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €633,682 | €654,628 | +€20,946 | +3.3% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Legal reserve | 130 | €6,600 | €6,600 | = | 0.0% |
| Distributable reserves | 133 | €627,082 | €648,028 | +€20,946 | +3.3% |
| Amounts payable | 17/49 | €879,801 | €722,778 | -€157,023 | -17.8% |
| Amounts payable within one year | 42/48 | €876,498 | €719,296 | -€157,201 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,578 | €450 | -€10,128 | -95.7% |
| Suppliers | 440/4 | €10,578 | €450 | -€10,128 | -95.7% |
| Taxes, remuneration and social security | 45 | €17,186 | €20,084 | +€2,898 | +16.9% |
| Taxes | 450/3 | €17,186 | €20,084 | +€2,898 | +16.9% |
| Other amounts payable | 47/48 | €648,734 | €598,763 | -€49,972 | -7.7% |
| Accrued charges and deferred income | 492/3 | €3,303 | €3,482 | +€178 | +5.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,538 | €23,034 | +€496 | +2.2% |
| Other operating charges | 640/8 | €14,171 | €4,154 | -€10,018 | -70.7% |
| Gross operating margin | 9900 | €53,197 | €43,284 | -€9,913 | -18.6% |
| Operating profit (loss) | 9901 | €16,487 | €16,096 | -€391 | -2.4% |
| Financial income | 75/76B | €35,507 | €29,605 | -€5,902 | -16.6% |
| Recurring financial income | 75 | €35,507 | €29,605 | -€5,902 | -16.6% |
| Financial charges | 65/66B | €34,519 | €13,459 | -€21,059 | -61.0% |
| Recurring financial charges | 65 | €34,519 | €13,459 | -€21,059 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €17,476 | €32,242 | +€14,766 | +84.5% |
| Income taxes | 67/77 | €7,558 | €11,295 | +€3,737 | +49.4% |
| Profit (loss) for the period | 9904 | €9,917 | €20,946 | +€11,029 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €9,917 | €20,946 | +€11,029 | +111% |
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 13 October 2026 via checked.be.