QM DEVELOPMENTS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-04-2026 PDF all 7 filings
Turnover
≈ €180,000
Estimated: probably between €130,000 and €240,000
Total assets
€450,850▼ 7.8%
2024 · €489,155
Net result
-€20,925▲ 22.6%
2024 · -€27,026
Working capital
€250,748▼ 7.2%
2024 · €270,213
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€21,275
▲ 22.5%
2025
20192025
Net result
-€20,925
▲ 22.6%
2025
lowest quarter of the sector
20192025
Equity
€417,119
▼ 8.9%
2025
highest quarter of the sector
20192025
Total assets
€450,850
▼ 7.8%
2025
highest quarter of the sector
20192025
Debt
€33,731
▲ 8.4%
2025
20192025
Working capital
€250,748
▼ 7.2%
2025
highest quarter of the sector
20192025
Solvency
92.5%
▼ 1.1pp
2025
highest quarter of the sector
20192025
Current ratio
8.58
▼ 1.69
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-4.6%
▲ 0.9pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
1
=
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€190,303-€233,475▲ 22.7%€6,805▼ 97.1%€103,267▲ 15×€164,366▲ 59.2%-€27,439-€21,275▲ 22.5%
Net result€129,709-€156,237above the sector's middle half▲ 20.5%€4,384below the sector's middle half▼ 97.2%€74,479within the sector's middle half▲ 17×€118,062within the sector's middle half▲ 58.5%-€27,026below the sector's middle half-€20,925below the sector's middle half▲ 22.6%
Equity€135,909-€292,146within the sector's middle half▲ 115%€296,530within the sector's middle half▲ 1.5%€371,009within the sector's middle half▲ 25.1%€485,070within the sector's middle half▲ 30.7%€458,044within the sector's middle half▼ 5.6%€417,119above the sector's middle half▼ 8.9%
Total assets€321,920-€435,336below the sector's middle half▲ 35.2%€401,235below the sector's middle half▼ 7.8%€456,672below the sector's middle half▲ 13.8%€536,790within the sector's middle half▲ 17.5%€489,155below the sector's middle half▼ 8.9%€450,850above the sector's middle half▼ 7.8%
Debt€186,011-€143,191▼ 23.0%€104,705▼ 26.9%€85,664▼ 18.2%€51,720▼ 39.6%€31,110▼ 39.8%€33,731▲ 8.4%
Working capital€32,207-€156,474within the sector's middle half▲ 386%€154,490within the sector's middle half▼ 1.3%€227,873within the sector's middle half▲ 47.5%€320,906within the sector's middle half▲ 40.8%€270,213within the sector's middle half▼ 15.8%€250,748above the sector's middle half▼ 7.2%
Solvency42.2%-67.1%above the sector's middle half▲ 24.9pp73.9%above the sector's middle half▲ 6.8pp81.2%above the sector's middle half▲ 7.3pp90.4%above the sector's middle half▲ 9.1pp93.6%above the sector's middle half▲ 3.3pp92.5%above the sector's middle half▼ 1.1pp
Current ratio1.36-2.88above the sector's middle half▲ 1.523.54above the sector's middle half▲ 0.664.91above the sector's middle half▲ 1.379.62above the sector's middle half▲ 4.7010.28above the sector's middle half▲ 0.668.58above the sector's middle half▼ 1.69
Return on assets (ROA)40.3%-35.9%above the sector's middle half▼ 4.4pp1.1%within the sector's middle half▼ 34.8pp16.3%above the sector's middle half▲ 15.2pp22.0%above the sector's middle half▲ 5.7pp-5.5%below the sector's middle half▼ 27.5pp-4.6%below the sector's middle half▲ 0.9pp
Staff (FTE)1.5-1below the sector's middle half▼ 33.3%1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1=
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €21,275, smaller than the loss of €27,439 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €450,850
Fixed assets
€167,031 ▼ 12.0%
Current assets
€283,819 ▼ 5.2%
Equity and liabilities €450,850
Equity
€417,119 ▼ 8.9%
Debt
€33,731 ▲ 8.4%
Debt's share of the balance-sheet total rises from 6.4% to 7.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7,140▲
2024 · -€1,376
Cash flow
€7,489▲
2024 · -€964
Quick ratio
7.06▼
2024 · 8.63
Debt to equity
0.08▲
2024 · 0.07
ROE
-5.0%▲
2024 · -5.9%
Interest coverage
11.84▲
2024 · -1.79
Debt ≤ 1 year
€33,071▲
2024 · €29,132
Debt > 1 year
€0▼
2024 · €1,112
Staff costs
€64,594▲
2024 · €58,187
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €12,834 | €34,696 | €37,232 | €5,636 |
| Depreciation and write-downs of the year | €28,250 | €17,695 | €26,062 | €28,415 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €290 awarded · €290 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €29,851 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €51,311 | €56,104 | €58,187 | €64,594 | ▲ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,783 | €28,039 | €28,518 | €28,250 | €17,695 | €26,062 | €28,415 | ▲ 9.0% |
| Other operating charges640/8 | - | - | - | €314 | €50 | €453 | €639 | ▲ 41.0% |
| Gross operating margin9900 | €313,525 | €312,812 | €87,586 | €183,142 | €238,215 | €57,264 | €72,373 | ▲ 26.4% |
| Operating profit (loss)9901 | €190,303 | €233,475 | €6,805 | €103,267 | €164,366 | -€27,439 | -€21,275 | ▲ 22.5% |
| Financial income75/76B | - | - | - | €96 | €514 | €1,181 | €952 | ▼ 19.4% |
| Recurring financial income75 | €9 | €0 | €23 | €96 | €514 | €1,181 | €952 | ▼ 19.4% |
| Financial charges65/66B | - | - | - | €1,566 | €1,223 | €768 | €603 | ▼ 21.5% |
| Recurring financial charges65 | €2,770 | €2,268 | €1,738 | €1,566 | €1,223 | €768 | €603 | ▼ 21.5% |
| Profit (loss) for the period before taxes9903 | €187,542 | €231,207 | €5,090 | €101,797 | €163,657 | -€27,026 | -€20,925 | ▲ 22.6% |
| Income taxes67/77 | €57,833 | €74,970 | €706 | €27,318 | €45,595 | €0 | - | - |
| Profit (loss) for the period9904 | €129,709 | €156,237 | €4,384 | €74,479 | €118,062 | -€27,026 | -€20,925 | ▲ 22.6% |
| Profit (loss) for the period to be appropriated9905 | €129,709 | €156,237 | €4,384 | €74,479 | €118,062 | -€27,026 | -€20,925 | ▲ 22.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €321,920 | €435,336 | €401,235 | €456,672 | €536,790 | €489,155 | €450,850 | ▼ 7.8% |
| Fixed assets21/28 | €201,161 | €195,604 | €185,954 | €170,537 | €178,640 | €189,810 | €167,031 | ▼ 12.0% |
| Tangible fixed assets22/27 | €201,101 | €195,544 | €185,894 | €170,477 | €178,580 | €189,750 | €166,971 | ▼ 12.0% |
| Land and buildings22 | - | - | - | €146,953 | €136,966 | €126,979 | €116,992 | ▼ 7.9% |
| Plant, machinery and equipment23 | - | - | - | €13,645 | €12,144 | €11,788 | €9,840 | ▼ 16.5% |
| Furniture and vehicles24 | - | - | - | €9,879 | €29,470 | €50,983 | €40,139 | ▼ 21.3% |
| Financial fixed assets28 | €60 | €60 | €60 | €60 | €60 | €60 | €60 | = |
| Current assets29/58 | €120,759 | €239,732 | €215,281 | €286,135 | €358,151 | €299,345 | €283,819 | ▼ 5.2% |
| Stocks and contracts in progress3 | €19,001 | €49,921 | €41,984 | €42,965 | €47,107 | €47,939 | €50,366 | ▲ 5.1% |
| Stocks30/36 | - | - | - | €42,965 | €47,107 | €47,939 | €50,366 | ▲ 5.1% |
| Amounts receivable within one year40/41 | €55,758 | €51,789 | €71,824 | €30,887 | €59,790 | €60,783 | €60,786 | = |
| Trade receivables40 | - | - | - | €30,887 | €41,429 | €24,908 | €42,706 | ▲ 71.5% |
| Other amounts receivable41 | - | - | - | €0 | €18,361 | €35,874 | €18,080 | ▼ 49.6% |
| Cash at bank and in hand54/58 | €45,499 | €137,877 | €101,368 | €211,758 | €250,679 | €189,602 | €172,668 | ▼ 8.9% |
| Deferred charges and accrued income490/1 | - | - | - | €524 | €575 | €1,021 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €321,920 | €435,336 | €401,235 | €456,672 | €536,790 | €489,155 | €450,850 | ▼ 7.8% |
| Equity10/15 | €135,909 | €292,146 | €296,530 | €371,009 | €485,070 | €458,044 | €417,119 | ▼ 8.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €129,709 | €285,946 | €290,330 | €364,809 | €478,870 | €478,870 | €458,870 | ▼ 4.2% |
| Distributable reserves133 | - | - | - | €364,809 | €478,870 | €478,870 | €458,870 | ▼ 4.2% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | -€27,026 | -€47,951 | ▼ 77.4% |
| Amounts payable17/49 | €186,011 | €143,191 | €104,705 | €85,664 | €51,720 | €31,110 | €33,731 | ▲ 8.4% |
| Amounts payable after more than one year17 | €75,885 | €59,933 | €43,681 | €27,217 | €14,308 | €1,112 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €27,217 | €14,308 | €1,112 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €88,552 | €83,258 | €60,791 | €58,261 | €37,245 | €29,132 | €33,071 | ▲ 13.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,464 | €12,909 | €13,196 | €1,112 | ▼ 91.6% |
| Financial debts43 | - | - | - | - | - | - | €1,111 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €1,111 | - |
| Trade debts44 | €17,172 | €20,760 | €13,099 | €17,975 | €8,866 | €8,273 | €16,532 | ▲ 99.8% |
| Suppliers440/4 | - | - | - | €17,975 | €8,866 | €8,273 | €16,532 | ▲ 99.8% |
| Taxes, remuneration and social security45 | - | - | - | €15,173 | €11,469 | €7,663 | €14,316 | ▲ 86.8% |
| Taxes450/3 | - | - | - | €10,401 | €7,638 | €4,683 | €4,346 | ▼ 7.2% |
| Remuneration and social security454/9 | - | - | - | €4,771 | €3,831 | €2,979 | €9,970 | ▲ 235% |
| Other amounts payable47/48 | - | - | - | €8,650 | €4,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €185 | €168 | €866 | €660 | ▼ 23.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €129,709 | €156,237 | €4,384 | €74,479 | €118,062 | -€27,026 | -€20,925 | ▲ 22.6% |
| + Depreciation and write-downs630 | €32,783 | €28,039 | €28,518 | €28,250 | €17,695 | €26,062 | €28,415 | ▲ 9.0% |
| Operating cash flow (approximation) | €162,492 | €184,276 | €32,901 | €102,729 | €135,757 | -€964 | €7,489 | - |
| Investment in fixed assets (approximation) | - | -€22,482 | -€18,867 | -€12,834 | -€25,798 | -€37,232 | -€5,636 | ▲ 84.9% |
| Change in cash | - | €92,377 | -€36,509 | €110,390 | €38,920 | -€61,076 | -€16,935 | ▲ 72.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,440 companies had the same profile as QM DEVELOPMENTS has now. Two years later, 90.0% were still going and 2.3% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
90.0%
was still going
7.4%
stopped otherwise
2.3%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of QM DEVELOPMENTS itself is lower: 0.2% within 12 months. It rests on far more data about QM DEVELOPMENTS than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,440 companies, not a prediction for QM DEVELOPMENTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 10-04-2026 | 2026-00076952 | |
| 30-09-2024 | abbreviated format | 04-04-2025 | 2025-00066827 | |
| 30-09-2023 | abbreviated format | 04-04-2024 | 2024-00060002 | |
| 30-09-2022 | abbreviated format | 03-04-2023 | 2023-00053150 | |
| 30-09-2021 | abbreviated format | 31-03-2022 | 2022-09900432 | |
| 30-09-2020 | abbreviated format | 30-03-2021 | 2021-09100080 | |
| 30-09-2019 | abbreviated format | 15-04-2020 | 2020-09300105 |