A.Q.T.: 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.
A.Q.T.
Largest movements
- Receivables within one year -€16,028
down €16,028 (-27.2%), from €58,868 to €42,840
of which Trade receivables: -€25,837
- Deferred charges and accrued income +€12,172
up €12,172 (+588%), from €2,070 to €14,241
- Cash +€8,834
up €8,834 (+168%), from €5,254 to €14,088
mainly Other debts (+€25,104) and Receivables within one year (+€16,028)
- Tangible fixed assets -€7,519
down €7,519 (-23.8%), from €31,539 to €24,020
of which Furniture and vehicles: -€6,032
- Receivables after one year +€2,551
up €2,551 (+4.0%), from €63,780 to €66,331
- Other debts +€25,104
up €25,104 (+3,111%), from €807 to €25,911
- Reserves -€14,465
down €14,465 (-10.4%), from €139,193 to €124,728
- Trade debts -€11,841
down €11,841 (-88.3%), from €13,406 to €1,565
- Tax, wage and social debts +€4,535
up €4,535 (+35.6%), from €12,725 to €17,260
- Debts after one year -€2,800
down €2,800 (-31.9%), from €8,784 to €5,984
- Gross operating margin -€22,961
down €22,961 (-53.4%), from €43,035 to €20,073
- Taxes -€5,771
down €5,771 (-52.5%), from €10,983 to €5,212
- Other operating charges +€1,451
up €1,451 (+89.5%), from €1,621 to €3,073
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 | €182,750 | €182,761 | +€11 | 0.0% |
| Fixed assets | 21/28 | €41,539 | €34,020 | -€7,519 | -18.1% |
| Tangible fixed assets | 22/27 | €31,539 | €24,020 | -€7,519 | -23.8% |
| Land and buildings | 22 | €2,630 | €2,343 | -€287 | -10.9% |
| Plant, machinery and equipment | 23 | €3,966 | €3,139 | -€827 | -20.9% |
| Furniture and vehicles | 24 | €18,715 | €12,683 | -€6,032 | -32.2% |
| Other tangible fixed assets | 26 | €6,228 | €5,855 | -€374 | -6.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €141,211 | €148,741 | +€7,530 | +5.3% |
| Amounts receivable after more than one year | 29 | €63,780 | €66,331 | +€2,551 | +4.0% |
| Other amounts receivable | 291 | €63,780 | €66,331 | +€2,551 | +4.0% |
| Stocks and contracts in progress | 3 | €5,742 | €5,742 | = | 0.0% |
| Stocks | 30/36 | €5,742 | €5,742 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,868 | €42,840 | -€16,028 | -27.2% |
| Trade receivables | 40 | €55,217 | €29,380 | -€25,837 | -46.8% |
| Other amounts receivable | 41 | €3,651 | €13,460 | +€9,809 | +269% |
| Current investments | 50/53 | €5,499 | €5,499 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,254 | €14,088 | +€8,834 | +168% |
| Deferred charges and accrued income | 490/1 | €2,070 | €14,241 | +€12,172 | +588% |
| Total equity and liabilities | 10/49 | €182,750 | €182,761 | +€11 | 0.0% |
| Equity | 10/15 | €139,193 | €124,728 | -€14,465 | -10.4% |
| Reserves | 13 | €139,193 | €124,728 | -€14,465 | -10.4% |
| Distributable reserves | 133 | €139,193 | €124,728 | -€14,465 | -10.4% |
| Amounts payable | 17/49 | €43,557 | €58,033 | +€14,476 | +33.2% |
| Amounts payable after more than one year | 17 | €8,784 | €5,984 | -€2,800 | -31.9% |
| Financial debts | 170/4 | €8,784 | €5,984 | -€2,800 | -31.9% |
| Amounts payable within one year | 42/48 | €34,454 | €51,532 | +€17,078 | +49.6% |
| Current portion of amounts payable after more than one year | 42 | €5,016 | €3,026 | -€1,990 | -39.7% |
| Financial debts | 43 | €2,500 | €3,770 | +€1,270 | +50.8% |
| Credit institutions | 430/8 | €2,500 | €3,770 | +€1,270 | +50.8% |
| Trade debts | 44 | €13,406 | €1,565 | -€11,841 | -88.3% |
| Suppliers | 440/4 | €13,406 | €1,565 | -€11,841 | -88.3% |
| Taxes, remuneration and social security | 45 | €12,725 | €17,260 | +€4,535 | +35.6% |
| Taxes | 450/3 | €12,725 | €17,260 | +€4,535 | +35.6% |
| Other amounts payable | 47/48 | €807 | €25,911 | +€25,104 | +3,111% |
| Accrued charges and deferred income | 492/3 | €320 | €517 | +€198 | +61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,404 | €7,519 | +€115 | +1.6% |
| Other operating charges | 640/8 | €1,621 | €3,073 | +€1,451 | +89.5% |
| Gross operating margin | 9900 | €43,035 | €20,073 | -€22,961 | -53.4% |
| Operating profit (loss) | 9901 | €34,010 | €9,482 | -€24,528 | -72.1% |
| Financial income | 75/76B | €3,019 | €2,690 | -€329 | -10.9% |
| Recurring financial income | 75 | €3,019 | €2,690 | -€329 | -10.9% |
| Financial charges | 65/66B | €1,690 | €2,091 | +€401 | +23.7% |
| Recurring financial charges | 65 | €1,690 | €2,091 | +€401 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €35,339 | €10,081 | -€25,258 | -71.5% |
| Income taxes | 67/77 | €10,983 | €5,212 | -€5,771 | -52.5% |
| Profit (loss) for the period | 9904 | €24,355 | €4,869 | -€19,487 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,355 | €4,869 | -€19,487 | -80.0% |
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 28 October 2026 via checked.be.