TopStuco: what changed
Two fiscal 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.
TopStuco
Largest movements
- Receivables within one year +€30,766
up €30,766 (+19.6%), from €156,828 to €187,594
of which Other amounts receivable: +€16,490
- Tangible fixed assets -€3,409
down €3,409 (-63.9%), from €5,338 to €1,929
- Cash +€1,953
new in 2025: €1,953
mainly Net result for the year (+€24,224) and Other debts (+€13,500)
- Other debts +€13,500
up €13,500 (+300.0%), from €4,500 to €18,000
- Reserves +€6,224
up €6,224 (+5.2%), from €120,728 to €126,952
- Trade debts +€5,313
up €5,313 (+121.4%), from €4,375 to €9,687
- Tax, wage and social debts +€3,766
up €3,766 (+31.1%), from €12,105 to €15,871
- Short-term financial debts +€3,546
up €3,546 (+27.6%), from €12,868 to €16,414
- Gross operating margin +€22,476
up €22,476 (+131.1%), from €17,138 to €39,614
- Taxes +€7,808
up €7,808 (+182.4%), from €4,282 to €12,090
- Financial income +€2,315
up €2,315 (+58.8%), from €3,940 to €6,255
- Financial charges +€1,566
up €1,566 (+64.7%), from €2,422 to €3,988
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 | €162,954 | €193,125 | +€30,171 | +18.5% |
| Fixed assets | 21/28 | €5,338 | €1,929 | -€3,409 | -63.9% |
| Tangible fixed assets | 22/27 | €5,338 | €1,929 | -€3,409 | -63.9% |
| Furniture and vehicles | 24 | €5,338 | €1,929 | -€3,409 | -63.9% |
| Current assets | 29/58 | €157,616 | €191,196 | +€33,580 | +21.3% |
| Amounts receivable within one year | 40/41 | €156,828 | €187,594 | +€30,766 | +19.6% |
| Trade receivables | 40 | €39,224 | €53,501 | +€14,277 | +36.4% |
| Other amounts receivable | 41 | €117,603 | €134,093 | +€16,490 | +14.0% |
| Cash at bank and in hand | 54/58 | - | €1,953 | +€1,953 | |
| Deferred charges and accrued income | 490/1 | €788 | €1,648 | +€860 | +109.1% |
| Total equity and liabilities | 10/49 | €162,954 | €193,125 | +€30,171 | +18.5% |
| Equity | 10/15 | €126,928 | €133,152 | +€6,224 | +4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €120,728 | €126,952 | +€6,224 | +5.2% |
| Distributable reserves | 133 | €120,728 | €126,952 | +€6,224 | +5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,026 | €59,972 | +€23,947 | +66.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €36,026 | €59,972 | +€23,947 | +66.5% |
| Current portion of amounts payable after more than one year | 42 | €2,178 | €0 | -€2,178 | -100.0% |
| Financial debts | 43 | €12,868 | €16,414 | +€3,546 | +27.6% |
| Credit institutions | 430/8 | €12,868 | €16,414 | +€3,546 | +27.6% |
| Trade debts | 44 | €4,375 | €9,687 | +€5,313 | +121.4% |
| Suppliers | 440/4 | €4,375 | €9,687 | +€5,313 | +121.4% |
| Taxes, remuneration and social security | 45 | €12,105 | €15,871 | +€3,766 | +31.1% |
| Taxes | 450/3 | €12,105 | €15,871 | +€3,766 | +31.1% |
| Other amounts payable | 47/48 | €4,500 | €18,000 | +€13,500 | +300.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,896 | €4,281 | +€384 | +9.9% |
| Other operating charges | 640/8 | €1,033 | €1,286 | +€253 | +24.5% |
| Gross operating margin | 9900 | €17,138 | €39,614 | +€22,476 | +131.1% |
| Operating profit (loss) | 9901 | €12,208 | €34,047 | +€21,839 | +178.9% |
| Financial income | 75/76B | €3,940 | €6,255 | +€2,315 | +58.8% |
| Recurring financial income | 75 | €3,940 | €6,255 | +€2,315 | +58.8% |
| Financial charges | 65/66B | €2,422 | €3,988 | +€1,566 | +64.7% |
| Recurring financial charges | 65 | €2,422 | €3,988 | +€1,566 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €13,726 | €36,314 | +€22,588 | +164.6% |
| Income taxes | 67/77 | €4,282 | €12,090 | +€7,808 | +182.4% |
| Profit (loss) for the period | 9904 | €9,444 | €24,224 | +€14,780 | +156.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,444 | €24,224 | +€14,780 | +156.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.