Topvastgoed: 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.
Topvastgoed
Largest movements
- Cash +€116,507
up €116,507 (+37.1%), from €313,701 to €430,208
mainly Receivables within one year (+€67,868) and Trade debts (+€47,367)
- Receivables within one year -€67,868
down €67,868 (-39.6%), from €171,450 to €103,582
of which Trade receivables: -€68,121
- Tangible fixed assets -€7,347
down €7,347 (-18.6%), from €39,490 to €32,143
of which Other tangible fixed assets: -€6,012
- Trade debts +€47,367
up €47,367 (+12.3%), from €384,703 to €432,071
- Reserves +€12,727
up €12,727 (+20.6%), from €61,923 to €74,650
- Accrued charges and deferred income -€11,750
down €11,750 (-55.1%), from €21,320 to €9,570
- Gross operating margin +€76,220
up €76,220 (+68.7%), from €110,919 to €187,139
- Staff costs +€65,314
up €65,314 (+72.1%), from €90,564 to €155,878
- Taxes +€4,683
up €4,683 (+125%), from €3,759 to €8,442
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 | €525,332 | €566,732 | +€41,400 | +7.9% |
| Fixed assets | 21/28 | €39,640 | €32,293 | -€7,347 | -18.5% |
| Tangible fixed assets | 22/27 | €39,490 | €32,143 | -€7,347 | -18.6% |
| Plant, machinery and equipment | 23 | €431 | €258 | -€174 | -40.2% |
| Furniture and vehicles | 24 | €2,859 | €1,698 | -€1,161 | -40.6% |
| Other tangible fixed assets | 26 | €36,200 | €30,187 | -€6,012 | -16.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €485,692 | €534,439 | +€48,746 | +10.0% |
| Amounts receivable within one year | 40/41 | €171,450 | €103,582 | -€67,868 | -39.6% |
| Trade receivables | 40 | €171,450 | €103,330 | -€68,121 | -39.7% |
| Other amounts receivable | 41 | - | €252 | +€252 | |
| Cash at bank and in hand | 54/58 | €313,701 | €430,208 | +€116,507 | +37.1% |
| Deferred charges and accrued income | 490/1 | €541 | €649 | +€108 | +19.9% |
| Total equity and liabilities | 10/49 | €525,332 | €566,732 | +€41,400 | +7.9% |
| Equity | 10/15 | €68,123 | €80,850 | +€12,727 | +18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,923 | €74,650 | +€12,727 | +20.6% |
| Distributable reserves | 133 | €61,923 | €74,650 | +€12,727 | +20.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €457,209 | €485,882 | +€28,673 | +6.3% |
| Amounts payable after more than one year | 17 | €9,853 | €4,519 | -€5,334 | -54.1% |
| Financial debts | 170/4 | €9,853 | €4,519 | -€5,334 | -54.1% |
| Amounts payable within one year | 42/48 | €426,036 | €471,793 | +€45,757 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €5,239 | €5,334 | +€95 | +1.8% |
| Trade debts | 44 | €384,703 | €432,071 | +€47,367 | +12.3% |
| Suppliers | 440/4 | €384,703 | €432,071 | +€47,367 | +12.3% |
| Taxes, remuneration and social security | 45 | €30,964 | €28,388 | -€2,576 | -8.3% |
| Taxes | 450/3 | €12,882 | €17,847 | +€4,965 | +38.5% |
| Remuneration and social security | 454/9 | €18,082 | €10,541 | -€7,541 | -41.7% |
| Other amounts payable | 47/48 | €5,130 | €6,000 | +€870 | +17.0% |
| Accrued charges and deferred income | 492/3 | €21,320 | €9,570 | -€11,750 | -55.1% |
| Remuneration, social security and pensions | 62 | €90,564 | €155,878 | +€65,314 | +72.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,459 | €8,708 | -€752 | -7.9% |
| Other operating charges | 640/8 | €1,113 | €1,145 | +€32 | +2.9% |
| Gross operating margin | 9900 | €110,919 | €187,139 | +€76,220 | +68.7% |
| Operating profit (loss) | 9901 | €9,782 | €21,408 | +€11,626 | +119% |
| Financial income | 75/76B | €11 | €153 | +€142 | +1,297% |
| Recurring financial income | 75 | €11 | €153 | +€142 | +1,297% |
| Financial charges | 65/66B | €465 | €393 | -€73 | -15.7% |
| Recurring financial charges | 65 | €465 | €393 | -€73 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €9,328 | €21,169 | +€11,841 | +127% |
| Income taxes | 67/77 | €3,759 | €8,442 | +€4,683 | +125% |
| Profit (loss) for the period | 9904 | €5,569 | €12,727 | +€7,158 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €5,569 | €12,727 | +€7,158 | +129% |
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 25 October 2026 via checked.be.