Tops Management: 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.
Tops Management
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€137,729
down €137,729 (-63.2%), from €217,849 to €80,120
mainly Contributions, distributions and other (-€277,608) and Current investments (-€250,000)
- Other debts +€277,608
new in 2025: €277,608
- Reserves -€167,224
down €167,224 (-100%), from €167,224 to €0
- Financial income +€5,288
up €5,288 (+134,907%), from €4 to €5,292
- Gross operating margin +€4,329
up €4,329 (+3.1%), from €140,579 to €144,907
- Taxes +€1,769
up €1,769 (+5.8%), from €30,479 to €32,248
- Financial charges +€1,766
up €1,766 (+39.9%), from €4,420 to €6,186
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 | €220,918 | €332,447 | +€111,529 | +50.5% |
| Fixed assets | 21/28 | €1,653 | €1,108 | -€545 | -33.0% |
| Tangible fixed assets | 22/27 | €1,428 | €1,108 | -€320 | -22.4% |
| Plant, machinery and equipment | 23 | €1,428 | €1,108 | -€320 | -22.4% |
| Financial fixed assets | 28 | €225 | €0 | -€225 | -100% |
| Current assets | 29/58 | €219,265 | €331,339 | +€112,074 | +51.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €217,849 | €80,120 | -€137,729 | -63.2% |
| Deferred charges and accrued income | 490/1 | €1,416 | €1,219 | -€197 | -13.9% |
| Total equity and liabilities | 10/49 | €220,918 | €332,447 | +€111,529 | +50.5% |
| Equity | 10/15 | €172,224 | €5,000 | -€167,224 | -97.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €167,224 | €0 | -€167,224 | -100% |
| Distributable reserves | 133 | €167,224 | €0 | -€167,224 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €48,694 | €327,447 | +€278,753 | +572% |
| Amounts payable within one year | 42/48 | €47,044 | €325,797 | +€278,753 | +593% |
| Trade debts | 44 | €2,793 | €3,421 | +€627 | +22.5% |
| Suppliers | 440/4 | €2,793 | €3,421 | +€627 | +22.5% |
| Taxes, remuneration and social security | 45 | €44,251 | €44,768 | +€517 | +1.2% |
| Taxes | 450/3 | €44,251 | €44,768 | +€517 | +1.2% |
| Other amounts payable | 47/48 | - | €277,608 | +€277,608 | |
| Accrued charges and deferred income | 492/3 | €1,650 | €1,650 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171 | €320 | +€149 | +87.3% |
| Other operating charges | 640/8 | €1,002 | €1,062 | +€59 | +5.9% |
| Gross operating margin | 9900 | €140,579 | €144,907 | +€4,329 | +3.1% |
| Operating profit (loss) | 9901 | €139,405 | €143,526 | +€4,121 | +3.0% |
| Financial income | 75/76B | €4 | €5,292 | +€5,288 | +134,907% |
| Recurring financial income | 75 | €4 | €5,292 | +€5,288 | +134,907% |
| Financial charges | 65/66B | €4,420 | €6,186 | +€1,766 | +39.9% |
| Recurring financial charges | 65 | €4,420 | €6,186 | +€1,766 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €134,989 | €142,632 | +€7,643 | +5.7% |
| Income taxes | 67/77 | €30,479 | €32,248 | +€1,769 | +5.8% |
| Profit (loss) for the period | 9904 | €104,510 | €110,384 | +€5,875 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €104,510 | €110,384 | +€5,875 | +5.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.