Q-DEVELOPMENTS

Active Private limited companyfounded 2011active for 15 yearsHoekstraat 165, 9160 LokerenKBO/BCE: BE 0839.810.063

Q-DEVELOPMENTS

Financial year 2025

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Annual accounts 2025

full format, filed on 26-06-2026, 35 days before the deadline

€4.6m

▲ 74.8%

€237,909

▲ 31.1%

€356,192

▲ 16.8%

€290,768

▲ 21.0%

54.8%

▲ 2.7 percentage points

2.28

▲ 0.05

Money flows

of every €100 of turnover, €3.76 remains as profit in 2025

Balance sheet

balance sheet total €2.5m on 31-12-2025

What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

54.8%

Higher than 61% of 834 companies in 2025.

2.28

Higher than 65% of 826 companies in 2025.

6.9%

Higher than 67% of 831 companies in 2025.

Q-DEVELOPMENTS Middle half of the sector 80% of the sector Full accounts in fabricated metal products (NACE 25)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half

Staff

Men and women14% women

7.1 men and 1.2 women in full-time equivalents in 2025.

€61,116

Staff costs divided by the average number of full-time equivalents.

+4 people

people who joined people who left

In 2025, 12 people joined and 8 left. Agency workers: 0.7 on average.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Balance sheet: assets
`20/58`	2.5m	2.3m	2.3m	2.4m	1.9m	565,782	371,008	215,101	93,184	51,726	120,863	207,178	166,183	171,216
`20`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`21/28`	778,763	741,296	866,034	969,021	602,020	52,522	137,803	36,256	2,655	3,178	12,930	25,759	55,678	49,563
`21`	1,051	3,021	5,610	8,199	6,907	0	996	1,992	-	-	2,907	6,782	11,621	16,780
`22/27`	377,712	338,274	460,423	560,822	595,113	52,522	136,807	34,265	2,655	3,178	10,024	18,977	44,057	32,783
`22`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`23`	31,645	14,135	34,910	55,041	59,277	35,414	510	667	825	982	2,833	5,249	7,290	8,469
`24`	62,930	50,327	74,164	76,895	34,177	16,377	135,199	32,134	-	-	4,528	10,566	17,105	23,812
`25`	195,210	271,731	348,252	424,772	501,293	-	-	-	-	-	-	-	-	-
`26`	1,065	2,081	3,097	4,113	366	732	1,098	1,464	1,830	2,196	2,662	3,162	19,662	502
`27`	86,862	-	-	-	-	-	-	0	-	-	-	-	-	-
`28`	400,000	400,000	400,000	400,000	-	-	-	0	-	-	-	-	-	-
`280/1`	400,000	400,000	400,000	400,000	-	-	-	-	-	-	-	-	-	-
`280`	400,000	400,000	400,000	400,000	-	-	-	-	-	-	-	-	-	-
`29/58`	1.7m	1.6m	1.5m	1.4m	1.3m	513,259	233,205	178,845	90,530	48,549	107,932	181,419	110,505	121,653
`29`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`290`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`291`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`3`	940,470	870,096	785,709	681,227	773,931	203,599	7,888	41,992	15,438	12,438	65,496	90,496	95,496	95,569
`30/36`	888,781	831,096	785,709	681,227	740,701	155,296	7,888	41,992	15,438	12,438	65,496	90,496	95,496	95,569
`30/31`	152,459	163,020	164,122	113,683	-	-	-	-	-	-	-	-	-	-
`32`	66,523	120,548	106,182	7,211	-	-	-	-	-	-	-	-	-	-
`33`	181,148	114,614	67,088	237,538	-	-	-	-	-	-	-	-	-	-
`34`	488,651	432,914	448,318	322,795	-	-	-	-	-	-	-	-	-	-
`37`	51,689	39,000	-	0	33,230	48,303	-	0	-	-	-	-	-	-
`40/41`	587,419	246,457	566,607	647,946	304,151	216,776	97,262	26,325	30,201	35,984	33,024	73,975	15,009	26,084
`40`	524,659	167,166	448,112	305,358	209,682	189,394	69,799	21,549	29,907	35,984	27,189	67,471	13,950	24,200
`41`	62,759	79,291	118,495	342,589	94,469	27,382	27,463	4,776	294	-	5,836	6,503	1,059	1,884
`50/53`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`54/58`	177,924	421,409	111,240	82,884	184,934	89,930	126,820	109,951	44,172	126	9,412	16,948	-	-
`490/1`	11,933	13,810	13,617	10,442	6,540	2,954	1,235	577	719	-	-	-	-	-
Balance sheet: equity and liabilities
`10/49`	2.5m	2.3m	2.3m	2.4m	1.9m	565,782	371,008	215,101	93,184	51,726	120,863	207,178	166,183	171,216
`10/15`	1.4m	1.2m	1.1m	871,830	498,248	215,039	98,116	97,898	34,967	-32,436	18,955	33,317	-7,828	-18,357
`10/11`	68,600	68,600	68,600	68,600	68,600	68,600	68,600	68,600	68,600	18,600	18,600	18,600	18,600	18,600
`100`	-	-	-	-	-	-	68,600	68,600	68,600	18,600	18,600	18,600	18,600	18,600
`101`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`11`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`1100/10`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`12`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`13`	1.3m	1.1m	1.0m	803,230	429,648	146,439	29,516	29,298	14,717	14,717	14,717	14,717	-	-
`130/1`	-	-	-	-	-	0	-	0	-	-	-	-	-	-
`130`	-	-	-	-	-	-	4,100	4,089	1,860	1,860	1,860	1,860	-	-
`1311`	-	-	-	-	-	0	-	-	-	-	-	-	-	-
`1312`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`1319`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`132`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`133`	1.3m	1.1m	1.0m	803,230	429,648	146,439	25,416	25,209	12,857	12,857	12,857	12,857	-	-
`14`	-	-	-	-	-	-	-	0	-48,350	-65,753	-14,363	-	-26,428	-36,957
`15`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`19`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`16`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`160/5`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`160`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`161`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`162`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`163`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`164/5`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`168`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`17/49`	1.1m	1.1m	1.3m	1.5m	1.4m	350,743	272,892	117,203	58,217	84,162	101,908	173,861	174,011	189,573
`17`	375,822	402,557	552,283	700,036	525,104	78,945	100,137	26,475	-	-	583	9,852	8,031	19,893
`170/4`	375,822	402,557	552,283	700,036	525,104	78,945	100,137	26,475	-	-	583	9,852	8,031	19,893
`172`	119,527	197,741	274,799	350,719	-	-	-	-	-	-	-	-	-	-
`173`	256,295	204,816	277,484	327,177	-	-	-	-	-	-	-	-	-	-
`174`	-	-	0	22,140	-	-	-	-	-	-	-	-	-	-
`175`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`176`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`178/9`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`42/48`	751,971	694,281	711,656	819,654	845,260	271,117	171,271	90,729	58,217	84,162	101,325	164,009	165,979	169,680
`42`	169,363	151,025	169,230	172,343	125,898	29,163	27,977	6,832	-	1,752	9,269	12,280	11,861	17,807
`43`	5,145	10,611	14,555	33,424	-	-	-	0	-	-	-	-	3,376	18,887
`430/8`	5,145	10,611	14,555	33,424	-	-	-	0	-	-	-	-	3,376	18,887
`439`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`44`	434,582	446,139	466,599	490,649	404,042	155,490	94,058	45,575	27,412	31,754	37,829	101,108	26,883	34,530
`440/4`	434,582	446,139	466,599	490,649	404,042	155,490	94,058	45,575	27,412	31,754	37,829	101,108	26,883	34,530
`441`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`46`	-	-	-	0	12,334	-	-	0	-	-	-	-	-	-
`45`	142,770	86,505	60,632	122,700	91,135	54,548	15,643	12,283	6,011	1,982	8,468	8,468	6,172	2,000
`450/3`	76,676	55,999	12,480	39,670	44,046	24,335	5,208	9,457	5,511	1,982	8,468	8,468	5,172	-
`454/9`	66,094	30,506	48,152	83,030	47,089	30,214	10,435	2,826	500	-	-	-	1,000	2,000
`47/48`	112	0	641	539	211,852	31,915	33,594	26,038	24,795	48,674	45,758	42,153	117,687	96,456
`492/3`	-	-	-	0	2,964	681	1,483	0	-	-	-	-	-	-
Income statement
`70/76A`	4.6m	2.8m	3.5m	5.8m	-	-	-	-	-	-	-	-	-	-
`70`	4.6m	2.6m	3.6m	5.8m	-	-	-	-	81,382	12,730	112,545	233,884	193,615	70,880
`71`	25,197	100,893	-71,479	-27,971	-	-	-	-	-	-	-	-	-	-
`74`	15,802	19,642	28,834	11,725	-	-	-	-	-	-	-	-	-	-
`76A`	5,865	8,689	-	-	0	913	3,652	-	-	2,413	-	94,055	-	-
`9900`	-	-	-	-	750,086	333,552	160,993	105,871	20,952	-41,930	1,090	-26,675	34,734	-16,502
`60/66A`	4.4m	2.6m	3.2m	5.3m	-	-	-	-	-	-	-	-	-	-
`60/61`	-	-	-	-	-	-	-	-	60,455	57,312	111,523	260,791	160,394	87,382
`60`	2.8m	1.7m	2.0m	3.9m	-	-	-	-	-	-	-	-	-	-
`600/8`	2.8m	1.7m	2.1m	3.8m	-	-	-	-	-	-	-	-	-	-
`609`	-45,177	16,506	-175,962	64,733	-	-	-	-	-	-	-	-	-	-
`61`	1.0m	392,859	490,006	543,954	-	-	-	-	-	-	-	-	-	-
`62`	507,262	376,365	655,420	748,317	351,972	157,226	138,901	32,325	-	-	-	-	-	-
`630`	118,284	123,426	128,036	123,721	58,834	13,997	17,348	10,007	523	5,686	12,829	14,293	18,744	17,823
`631/4`	-	-	-	-	0	7,620	-	0	-	-	-	-	-	-
`635/8`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`640/8`	5,623	5,013	6,030	4,835	7,689	2,507	2,801	931	2,152	2,081	711	842	1,279	1,357
`649`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`66A`	-	0	6,474	-	0	1,980	-	0	-	-	-	-	-	-
`9901`	237,909	181,516	306,001	507,286	331,591	150,223	1,943	62,608	18,277	-49,697	-12,449	-41,810	14,712	-35,682
`75/76B`	12,891	2,360	2,318	11,553	6,415	9,902	2,940	5,266	687	0	141	241	141	664
`75`	12,891	2,360	2,318	11,553	6,415	9,902	2,940	5,266	687	0	141	241	141	664
`751`	3,422	-	-	-	-	-	-	-	-	-	-	-	-	-
`752/9`	9,469	2,360	2,318	11,553	-	-	-	-	-	-	-	-	-	-
`76B`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`65/66B`	16,567	18,133	23,944	13,350	8,344	2,836	2,890	3,010	1,561	1,694	2,054	2,872	4,324	1,939
`65`	16,567	18,133	23,944	13,350	8,344	2,836	2,890	3,010	1,561	1,694	2,054	2,872	4,324	1,939
`650`	14,129	16,778	20,799	11,965	-	-	-	-	-	-	-	-	-	-
`652/9`	2,438	1,355	3,145	1,385	-	-	-	-	-	-	-	-	-	-
`66B`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`9903`	234,233	165,743	284,375	505,489	329,661	157,289	1,992	64,863	17,403	-51,391	-14,363	49,614	10,529	-36,956
`67/77`	61,749	48,780	76,938	131,907	46,452	40,366	1,774	1,932	-	-	-	8,468	-	1
`670/3`	61,749	48,780	76,938	131,907	-	-	-	-	-	-	-	-	-	-
`9904`	172,484	116,963	207,437	373,582	283,209	116,923	218	62,931	17,403	-51,391	-14,363	41,145	10,529	-36,957
`789`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`689`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`9905`	172,484	116,963	207,437	373,582	283,209	116,923	218	62,931	17,403	-51,391	-14,363	41,145	10,529	-36,957
Appropriation of the result
`9906`	172,484	116,963	207,437	373,582	283,209	116,923	218	14,581	-48,350	-65,753	-14,363	14,717	-26,428	-36,957
`791/2`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`691/2`	172,484	116,963	207,437	373,582	283,209	116,923	218	14,581	-	-	-	14,717	-	-
`691`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`6920`	-	-	-	-	-	0	11	2,229	-	-	-	1,860	-	-
`6921`	172,484	116,963	207,437	373,582	283,209	116,923	207	12,352	-	-	-	12,857	-	-
`694/7`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`694`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`695`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
`696`	-	-	-	-	-	-	-	0	-	-	-	-	-	-
Social balance sheet
`9087`	8.3	5.7	10.9	13.9	6.6	3.2	2.5	0.8	-	-	-	-	-	-
Men (FTE)`1003`	7.1	4.9	9.5	13	-	-	-	-	-	-	-	-	-	-
Women (FTE)`1003`	1.2	0.8	1.4	0.9	-	-	-	-	-	-	-	-	-	-
Agency workers`1501`	0.7	-	-	0.2	-	-	-	-	-	-	-	-	-	-
Hours worked`1013`	14,061	9,661	17,483	23,174	12,310	5,329	3,724	1,314	-	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 80 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 26-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	26-06-2026	2026-00204932	PDF
31-12-2024	full format	17-06-2025	2025-00147070	PDF
31-12-2023	full format	19-07-2024	2024-00270719	PDF
31-12-2022	full format	16-01-2024	2024-00002078	PDF
31-12-2021	abbreviated format	30-11-2022	2022-20528846	PDF
31-12-2020	abbreviated format	31-08-2021	2021-62700493	PDF
31-12-2019	abbreviated format	16-07-2020	2020-31100230	PDF
31-12-2018	abbreviated format	11-06-2019	2019-17500125	PDF
31-12-2017	abbreviated format	04-07-2018	2018-28800572	PDF
31-12-2016	abbreviated format	14-06-2017	2017-17400439	PDF
31-12-2015	abbreviated format	20-07-2016	2016-33900581	PDF
31-12-2014	abbreviated format	07-08-2015	2015-40600461	PDF
31-12-2013	abbreviated format	31-07-2014	2014-38000064	PDF
31-12-2012	abbreviated format	01-08-2013	2013-38700508	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
356,192	304,943	434,037	631,007	390,425	164,220	19,290	72,615	18,800	-44,011	379	-27,517	33,456	-17,859
290,768	240,390	335,473	497,304	342,043	130,920	17,565	72,938	17,926	-45,704	-1,534	55,439	29,273	-19,134
163,427	-1,311	47,923	490,723	608,331	39,241	118,894	43,609	0	-4,066	0	375	24,859	67,386
-243,485	310,169	28,355	-102,049	95,004	-36,890	16,869	65,780	44,045	-9,286	-7,536	-	-	-
965,774	857,491	765,517	602,846	424,296	242,142	61,934	88,117	32,312	-35,614	6,607	17,410	-55,474	-48,027
5.2%	6.9%	8.5%	8.8%	-	-	-	-	22.5%	-	-11.1%	-17.9%	7.6%	-50.3%
54.8%	52.2%	46.1%	36.5%	26.6%	38.0%	26.4%	45.5%	37.5%	-62.7%	15.7%	16.1%	-4.7%	-10.7%
2.28	2.24	2.08	1.74	1.50	1.89	1.36	1.97	1.56	0.58	1.07	1.11	0.67	0.72
1.03	0.98	0.97	0.90	0.59	1.14	1.32	1.51	1.29	0.43	0.42	0.55	0.09	0.15
0.82	0.92	1.17	1.74	2.76	1.63	2.78	1.20	1.66	-	5.38	5.22	-	-
12.6%	9.8%	19.2%	42.9%	56.8%	54.4%	0.2%	64.3%	49.8%	-	-75.8%	123.5%	-	-
6.9%	5.1%	8.9%	15.6%	15.1%	20.7%	0.1%	29.3%	18.7%	-99.4%	-11.9%	19.9%	6.3%	-21.6%
25.21	18.18	20.87	52.74	46.79	-	-	-	-	-	-	-	-	-
42 days	23 days	46 days	19 days	-	-	-	-	134 days	1032 days	88 days	105 days	26 days	125 days
42 days	79 days	70 days	41 days	-	-	-	-	165 days	202 days	124 days	142 days	61 days	144 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	10	6	9	13	10
full-time	7	4	6	11	9
part-time	3	2	3	2	1
in full-time equivalents	9.5	5.7	8.3	12.7	9.8
	8.3	5.7	10.9	13.9	6.6
On a permanent contract	9	6	8	13	9
Joined	12	12	4	36	23
Left	8	15	8	33	18
Agency workers, average number	0.7	-	-	0.2	-
Training hours	0	216	0	67	52

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	€196,585	€274,799	€350,719	€425,516	€509,351

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€163,427	-	€47,923	€87,347	€601,011
Intangible fixed assets	-	-	-	€3,375	€7,320
Financial fixed assets	-	-	-	€400,000	-
	€118,284	€123,426	€128,036	€123,721	€58,834

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is Moore Audit.

Item	2025	2024	2023	2022	2021
Fee for the audit	€5,665	€5,432	€5,120	€4,926	-

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Insights on Q-DEVELOPMENTS

The operating result for 2025 is 31% higher than in 2024. It is a recovery after the fall in 2024.

Debt's share of the balance-sheet total falls from 47.8% to 45.2%. Equity and debt are higher.

Large changes and their cause

2022 Staff (FTE) +111% on 2021. The accounts now follow the full format, last year the abbreviated format.

Next steps

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Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency54.8%

Current ratio2.28

Return on assets6.9%

Staff

Men and women14% women

Staff cost per FTE€61,116

Joined and left+4 people

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Auditor

Insights on Q-DEVELOPMENTS

Next steps

in €m

in euro

54.8%

2.28

6.9%

€61,116

+4 people