Topterra: 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.
Topterra
Largest movements
- Stocks and contracts -€36,208
down €36,208 (-5.7%), from €634,211 to €598,003
- Short-term financial debts -€65,700
down €65,700 (-56.2%), from €117,000 to €51,300
- Reserves +€16,233
up €16,233 (+22,643%), from €72 to €16,305
- Gross operating margin -€111,930
down €111,930 (-80.5%), from €139,078 to €27,148
- Financial charges -€12,580
down €12,580 (-75.7%), from €16,608 to €4,028
- Taxes +€5,882
up €5,882 (+21,900%), from €27 to €5,909
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 | €647,099 | €604,590 | -€42,508 | -6.6% |
| Fixed assets | 21/28 | €5,707 | €5,248 | -€459 | -8.0% |
| Tangible fixed assets | 22/27 | €459 | €0 | -€459 | -100% |
| Plant, machinery and equipment | 23 | €459 | €0 | -€459 | -100% |
| Financial fixed assets | 28 | €5,248 | €5,248 | = | 0.0% |
| Current assets | 29/58 | €641,392 | €599,343 | -€42,049 | -6.6% |
| Stocks and contracts in progress | 3 | €634,211 | €598,003 | -€36,208 | -5.7% |
| Stocks | 30/36 | €634,211 | €598,003 | -€36,208 | -5.7% |
| Cash at bank and in hand | 54/58 | €7,181 | €1,340 | -€5,841 | -81.3% |
| Total equity and liabilities | 10/49 | €647,099 | €604,590 | -€42,508 | -6.6% |
| Equity | 10/15 | €400,072 | €416,305 | +€16,233 | +4.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €72 | €16,305 | +€16,233 | +22,643% |
| Distributable reserves | 133 | €72 | €16,305 | +€16,233 | +22,643% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €247,027 | €188,286 | -€58,741 | -23.8% |
| Amounts payable within one year | 42/48 | €247,027 | €188,286 | -€58,741 | -23.8% |
| Financial debts | 43 | €117,000 | €51,300 | -€65,700 | -56.2% |
| Credit institutions | 430/8 | €117,000 | €51,300 | -€65,700 | -56.2% |
| Trade debts | 44 | - | €1,077 | +€1,077 | |
| Suppliers | 440/4 | - | €1,077 | +€1,077 | |
| Taxes, remuneration and social security | 45 | €27 | €5,909 | +€5,882 | +21,916% |
| Taxes | 450/3 | €27 | €5,909 | +€5,882 | +21,916% |
| Other amounts payable | 47/48 | €130,000 | €130,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €590 | €459 | -€130 | -22.1% |
| Other operating charges | 640/8 | €516 | €519 | +€4 | +0.7% |
| Gross operating margin | 9900 | €139,078 | €27,148 | -€111,930 | -80.5% |
| Operating profit (loss) | 9901 | €137,973 | €26,170 | -€111,804 | -81.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +650% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +650% |
| Financial charges | 65/66B | €16,608 | €4,028 | -€12,580 | -75.7% |
| Recurring financial charges | 65 | €16,608 | €4,028 | -€12,580 | -75.7% |
| Profit (loss) for the period before taxes | 9903 | €121,365 | €22,142 | -€99,223 | -81.8% |
| Income taxes | 67/77 | €27 | €5,909 | +€5,882 | +21,900% |
| Profit (loss) for the period | 9904 | €121,338 | €16,233 | -€105,105 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,338 | €16,233 | -€105,105 | -86.6% |
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 19 October 2026 via checked.be.