TOPQUARK: 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.
TOPQUARK
Largest movements
- Receivables within one year -€119,615
down €119,615 (-74.1%), from €161,475 to €41,860
of which Other amounts receivable: -€136,209
- Tangible fixed assets -€60,399
down €60,399 (-36.7%), from €164,570 to €104,171
of which Furniture and vehicles: -€46,950
- Debts after one year -€232,077
down €232,077 (-68.9%), from €336,796 to €104,719
- Profit (loss) carried forward +€60,110
up €60,110 (+33.2%), from -€180,877 to -€120,768
- Current portion of long-term debt -€24,010
down €24,010 (-66.5%), from €36,088 to €12,077
- Trade debts +€6,572
up €6,572 (+246%), from €2,667 to €9,239
- Other debts +€5,744
up €5,744 (+32.4%), from €17,708 to €23,452
- Gross operating margin +€26,645
up €26,645 (+30.1%), from €88,458 to €115,104
- Financial charges -€14,291
down €14,291 (-61.5%), from €23,225 to €8,934
- Financial income +€8,896
up €8,896 (+106%), from €8,378 to €17,274
- Depreciation -€1,669
down €1,669 (-2.6%), from €63,844 to €62,175
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 | €353,249 | €167,474 | -€185,775 | -52.6% |
| Fixed assets | 21/28 | €164,570 | €104,171 | -€60,399 | -36.7% |
| Tangible fixed assets | 22/27 | €164,570 | €104,171 | -€60,399 | -36.7% |
| Plant, machinery and equipment | 23 | €5,815 | €4,870 | -€944 | -16.2% |
| Furniture and vehicles | 24 | €66,024 | €19,074 | -€46,950 | -71.1% |
| Other tangible fixed assets | 26 | €92,731 | €80,226 | -€12,505 | -13.5% |
| Current assets | 29/58 | €188,679 | €63,303 | -€125,376 | -66.4% |
| Amounts receivable within one year | 40/41 | €161,475 | €41,860 | -€119,615 | -74.1% |
| Trade receivables | 40 | €0 | €16,594 | +€16,594 | |
| Other amounts receivable | 41 | €161,475 | €25,265 | -€136,209 | -84.4% |
| Cash at bank and in hand | 54/58 | €22,744 | €19,535 | -€3,208 | -14.1% |
| Deferred charges and accrued income | 490/1 | €4,461 | €1,908 | -€2,553 | -57.2% |
| Total equity and liabilities | 10/49 | €353,249 | €167,474 | -€185,775 | -52.6% |
| Equity | 10/15 | -€57,881 | €2,228 | +€60,110 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €121,996 | €121,996 | = | 0.0% |
| Distributable reserves | 133 | €121,996 | €121,996 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,877 | -€120,768 | +€60,110 | +33.2% |
| Amounts payable | 17/49 | €411,130 | €165,246 | -€245,885 | -59.8% |
| Amounts payable after more than one year | 17 | €336,796 | €104,719 | -€232,077 | -68.9% |
| Financial debts | 170/4 | €336,796 | €104,719 | -€232,077 | -68.9% |
| Amounts payable within one year | 42/48 | €74,335 | €58,869 | -€15,466 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €36,088 | €12,077 | -€24,010 | -66.5% |
| Trade debts | 44 | €2,667 | €9,239 | +€6,572 | +246% |
| Suppliers | 440/4 | €2,667 | €9,239 | +€6,572 | +246% |
| Taxes, remuneration and social security | 45 | €17,872 | €14,101 | -€3,771 | -21.1% |
| Taxes | 450/3 | €17,872 | €14,101 | -€3,771 | -21.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €17,708 | €23,452 | +€5,744 | +32.4% |
| Accrued charges and deferred income | 492/3 | €0 | €1,658 | +€1,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,844 | €62,175 | -€1,669 | -2.6% |
| Other operating charges | 640/8 | €654 | €649 | -€5 | -0.8% |
| Gross operating margin | 9900 | €88,458 | €115,104 | +€26,645 | +30.1% |
| Operating profit (loss) | 9901 | €23,960 | €52,279 | +€28,319 | +118% |
| Financial income | 75/76B | €8,378 | €17,274 | +€8,896 | +106% |
| Recurring financial income | 75 | €8,378 | €17,274 | +€8,896 | +106% |
| Financial charges | 65/66B | €23,225 | €8,934 | -€14,291 | -61.5% |
| Recurring financial charges | 65 | €23,225 | €8,934 | -€14,291 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €9,113 | €60,619 | +€51,506 | +565% |
| Income taxes | 67/77 | €515 | €510 | -€5 | -0.9% |
| Profit (loss) for the period | 9904 | €8,599 | €60,110 | +€51,511 | +599% |
| Profit (loss) for the period to be appropriated | 9905 | €8,599 | €60,110 | +€51,511 | +599% |
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 16 October 2026 via checked.be.