ACTIVE

TOP

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Financial year 2025 · closed on 30/09/2025

Net result

370 k €

+21.6% YoY

Gross margin

636,9 k €

+22.0% YoY

Equity

2,6 M €

+16.6% YoY

What does TOP do?

TOP is a Private limited company incorporated in 2009. Its registered office is in Lokeren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0809.429.762

Incorporation

29/01/2009

Legal form

Private limited company

Registered office

Daknammolenstraat 47
9160 Lokeren · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

30/09/2025

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	636,9 k €	+22.0%	522 k €	+12.8%	462,6 k €	+18.6%	390,1 k €	+8.5%	359,4 k €	+8.1%	332,6 k €	+56.6%	212,4 k €	+1.6%	209,1 k €	-17.8%	254,5 k €	+3.6%	245,6 k €	-16.6%	294,5 k €	+28.8%	228,7 k €	-4.9%	240,4 k €	+12.7%	213,4 k €	+66.1%	128,5 k €	+1.6%	126,4 k €
EBITDA	635,6 k €	+22.2%	520,3 k €	+13.0%	460,6 k €	+18.8%	387,8 k €	+8.8%	356,5 k €	+7.9%	330,5 k €	+56.4%	211,3 k €	+2.0%	207,1 k €	-18.3%	253,3 k €	+3.7%	244,3 k €	-16.5%	292,7 k €	+28.8%	227,3 k €	-5.0%	239,3 k €	+13.1%	211,6 k €	+66.8%	126,9 k €	+3.7%	122,3 k €
Operating result	528,9 k €	+20.1%	440,4 k €	+8.3%	406,7 k €	+18.0%	344,7 k €	+67.6%	205,6 k €	+25.5%	163,8 k €	-20.7%	206,5 k €	+12.2%	184 k €	-21.7%	235,1 k €	+4.0%	226,1 k €	-17.6%	274,5 k €	+31.7%	208,4 k €	-8.6%	228,1 k €	+13.8%	200,4 k €	+74.4%	114,9 k €	+16.9%	98,3 k €
Net result	370 k €	+21.6%	304,3 k €	+0.6%	302,4 k €	+17.3%	257,9 k €	+58.4%	162,8 k €	+29.1%	126,1 k €	-22.6%	163 k €	+26.8%	128,6 k €	-21.0%	162,7 k €	+3.1%	157,7 k €	-19.0%	194,8 k €	+32.2%	147,3 k €	-6.8%	158,2 k €	+18.7%	133,2 k €	+77.3%	75,1 k €	+35.2%	55,6 k €
Balance sheet
Equity	2,6 M €	+16.6%	2,2 M €	+15.8%	1,9 M €	+19.6%	1,6 M €	+19.1%	1,4 M €	+13.7%	1,2 M €	+11.9%	1,1 M €	+17.7%	901,8 k €	+16.6%	773,3 k €	+26.6%	610,6 k €	+34.8%	452,8 k €	+75.5%	258 k €	+133%	110,7 k €	-27.4%	152,5 k €	+11.4%	136,9 k €	+122%	61,8 k €
Total assets	4,3 M €	+14.6%	3,7 M €	+19.9%	3,1 M €	+17.0%	2,7 M €	+38.0%	1,9 M €	+53.8%	1,3 M €	+15.2%	1,1 M €	+9.6%	994,7 k €	+12.5%	883,8 k €	+26.3%	699,5 k €	+19.4%	586,1 k €	+31.6%	445,3 k €	+15.9%	384,3 k €	+58.3%	242,8 k €	+5.0%	231,3 k €	+84.7%	125,3 k €
Cash	34,5 k €	-65.3%	99,4 k €	+155%	39 k €	+450%	7,1 k €	-89.4%	66,6 k €	-76.9%	289 k €	-56.5%	664,8 k €	+950%	63,3 k €	-17.8%	77 k €	+4.1%	74 k €	-39.1%	121,4 k €	+495%	20,4 k €	+32.4%	15,4 k €	-81.4%	83 k €	+72.0%	48,3 k €	+52.7%	31,6 k €
Debts	1,7 M €	+11.7%	1,5 M €	+26.4%	1,2 M €	+13.2%	1,1 M €	+81.9%	580,8 k €	+755%	67,9 k €	+143%	28 k €	-69.9%	92,8 k €	-15.9%	110,4 k €	+24.0%	89 k €	-33.2%	133,3 k €	-28.8%	187,3 k €	-31.5%	273,6 k €	+203%	90,3 k €	-4.3%	94,4 k €	+48.7%	63,5 k €
Other
Workforce	–		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 3 ended

Active mandates

Selami Top

Director · since 28 janvier 2009

Active

Güllü Ucar

Director

Active

Ended mandates

Gülü Ucar

Director · since 28 janvier 2009

Ended

Gülü Ucar

Manager

Ended

Selami Top

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
MAA-Top● Active	1018.011.733

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	14/04/2026	31/03/2025	03/04/2024	30/03/2023	05/04/2022	07/04/2021
General meeting	16/03/2026	17/03/2025	15/03/2024	15/03/2023	15/03/2022	15/03/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	16/03/2026	14/04/2026	Dutch	PDF
Abridged model	30/09/2024	17/03/2025	31/03/2025	Dutch	PDF
Abridged model	30/09/2023	15/03/2024	03/04/2024	Dutch	PDF
Abridged model	30/09/2022	15/03/2023	30/03/2023	Dutch	PDF
Abridged model	30/09/2021	15/03/2022	05/04/2022	Dutch	PDF
Micro model	30/09/2020	15/03/2021	07/04/2021	Dutch	PDF
Micro model	30/09/2019	16/03/2020	18/03/2020	Dutch	PDF
Micro model	30/09/2018	15/03/2019	18/03/2019	Dutch	PDF
Micro model	30/09/2017	15/03/2018	16/03/2018	Dutch	PDF
Abridged model	30/09/2016	15/03/2017	17/03/2017	Dutch	PDF
Abridged model	30/09/2015	16/03/2016	17/03/2016	Dutch	PDF
Abridged model	30/09/2014	16/03/2015	19/03/2015	Dutch	PDF
Abridged model	30/09/2013	15/03/2014	24/04/2014	Dutch	PDF
Abridged model	30/09/2012	29/03/2013	23/04/2013	Dutch	PDF
Abridged model	30/09/2011	15/03/2012	12/04/2012	Dutch	PDF
Abridged model	30/09/2010	15/04/2011	29/04/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 3 ended

Active mandates

Selami Top

Director · since 28 janvier 2009

Active

Güllü Ucar

Director

Active

Ended mandates

Gülü Ucar

Director · since 28 janvier 2009

Ended

Gülü Ucar

Manager

Ended

Selami Top

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office03/06/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates28/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Other09/02/2009
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025370 k €↑
2024
Annual accounts 2024304,3 k €↑
2023
Annual accounts 2023302,4 k €↑
2022
Annual accounts 2022257,9 k €↑
2021
Annual accounts 2021162,8 k €↑
2020
Annual accounts 2020126,1 k €↓
2019
Annual accounts 2019163 k €↑
2018
Annual accounts 2018128,6 k €↓
2017
Annual accounts 2017162,7 k €↑
2016
Annual accounts 2016157,7 k €↓
2015
Annual accounts 2015194,8 k €↑
2014
Annual accounts 2014147,3 k €↓
2013
Annual accounts 2013158,2 k €↑
2012
Annual accounts 2012133,2 k €↑
2011
Annual accounts 201175,1 k €↑
2010
Annual accounts 201055,6 k €
29/01/2009
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TOP

Overview

What does TOP do?

Trend over 16 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline