A-QUEEN: what changed
Two fiscal 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-QUEEN
Largest movements
- Tangible fixed assets +€526,990
up €526,990 (+6390.2%), from €8,247 to €535,237
of which Land and buildings: +€530,079
- Receivables within one year -€62,000
down €62,000 (-99.0%), from €62,600 to €600
of which Other amounts receivable: -€62,000
- Financial fixed assets -€25,000
no longer reported in 2025 (was €25,000)
- Cash +€24,559
up €24,559 (+10.6%), from €230,871 to €255,430
mainly Debts after one year (+€543,793) and Receivables within one year (+€62,000)
- Debts after one year +€543,793
new in 2025: €543,793
- Profit (loss) carried forward -€107,700
down €107,700 (-66.3%), from €162,416 to €54,716
- Trade debts +€31,673
up €31,673 (+265.6%), from €11,927 to €43,600
- Tax, wage and social debts -€26,569
down €26,569 (-17.7%), from €150,375 to €123,806
of which Taxes: -€58,282
- Current portion of long-term debt +€24,989
new in 2025: €24,989
- Staff costs +€216,555
up €216,555 (+13.5%), from €1.6m to €1.8m
- Gross operating margin +€158,974
up €158,974 (+9.3%), from €1.7m to €1.9m
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.
Cash bridge derived
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 | €326,718 | €792,903 | +€466,185 | +142.7% |
| Fixed assets | 21/28 | €33,247 | €535,237 | +€501,990 | +1509.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €8,247 | €535,237 | +€526,990 | +6390.2% |
| Land and buildings | 22 | - | €530,079 | +€530,079 | |
| Plant, machinery and equipment | 23 | €6,543 | €2,425 | -€4,118 | -62.9% |
| Furniture and vehicles | 24 | €1,704 | €2,732 | +€1,028 | +60.3% |
| Financial fixed assets | 28 | €25,000 | - | -€25,000 | |
| Current assets | 29/58 | €293,471 | €257,666 | -€35,805 | -12.2% |
| Amounts receivable within one year | 40/41 | €62,600 | €600 | -€62,000 | -99.0% |
| Trade receivables | 40 | €600 | €600 | = | 0.0% |
| Other amounts receivable | 41 | €62,000 | - | -€62,000 | |
| Cash at bank and in hand | 54/58 | €230,871 | €255,430 | +€24,559 | +10.6% |
| Deferred charges and accrued income | 490/1 | - | €1,637 | +€1,637 | |
| Total equity and liabilities | 10/49 | €326,718 | €792,903 | +€466,185 | +142.7% |
| Equity | 10/15 | €164,416 | €56,716 | -€107,700 | -65.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,416 | €54,716 | -€107,700 | -66.3% |
| Amounts payable | 17/49 | €162,302 | €736,187 | +€573,886 | +353.6% |
| Amounts payable after more than one year | 17 | - | €543,793 | +€543,793 | |
| Financial debts | 170/4 | - | €543,793 | +€543,793 | |
| Amounts payable within one year | 42/48 | €162,302 | €192,395 | +€30,093 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | - | €24,989 | +€24,989 | |
| Trade debts | 44 | €11,927 | €43,600 | +€31,673 | +265.6% |
| Suppliers | 440/4 | €11,927 | €43,600 | +€31,673 | +265.6% |
| Taxes, remuneration and social security | 45 | €150,375 | €123,806 | -€26,569 | -17.7% |
| Taxes | 450/3 | €63,577 | €5,294 | -€58,282 | -91.7% |
| Remuneration and social security | 454/9 | €86,798 | €118,511 | +€31,713 | +36.5% |
| Non-recurring operating income | 76A | €0 | €3 | +€3 | +4300.0% |
| Remuneration, social security and pensions | 62 | €1,602,455 | €1,819,011 | +€216,555 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,008 | €19,340 | +€15,332 | +382.6% |
| Other operating charges | 640/8 | €742 | €7,501 | +€6,759 | +911.4% |
| Non-recurring operating charges | 66A | - | €83,270 | +€83,270 | |
| Gross operating margin | 9900 | €1,702,987 | €1,861,961 | +€158,974 | +9.3% |
| Operating profit (loss) | 9901 | €95,783 | -€67,160 | -€162,943 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €173 | €13,775 | +€13,602 | +7851.6% |
| Recurring financial charges | 65 | €173 | €13,775 | +€13,602 | +7851.6% |
| Profit (loss) for the period before taxes | 9903 | €95,609 | -€80,932 | -€176,541 | |
| Income taxes | 67/77 | €27,623 | €26,768 | -€854 | -3.1% |
| Profit (loss) for the period | 9904 | €67,987 | -€107,700 | -€175,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,987 | -€107,700 | -€175,687 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.