AQ DEGASSING: 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.
AQ DEGASSING
Largest movements
- Tangible fixed assets +€2.7m
up €2.7m (+23.1%), from €11.5m to €14.1m
of which Plant, machinery and equipment: +€3.9m
- Receivables within one year +€939,644
up €939,644 (+12.9%), from €7.3m to €8.2m
of which Trade receivables: +€719,354
- Debts after one year +€4.8m
up €4.8m (+156%), from €3.1m to €7.9m
- Short-term financial debts -€3.2m
no longer reported in 2025 (was €3.2m)
- Current portion of long-term debt +€1.3m
up €1.3m (+174%), from €722,354 to €2.0m
- Reserves +€656,551
up €656,551 (+6.9%), from €9.5m to €10.1m
of which Distributable reserves: +€656,551
- Trade debts +€460,169
up €460,169 (+47.6%), from €965,956 to €1.4m
- Gross operating margin -€1.3m
down €1.3m (-29.4%), from €4.4m to €3.1m
- Staff costs +€401,562
up €401,562 (+709%), from €56,603 to €458,166
- Depreciation +€335,127
up €335,127 (+28.4%), from €1.2m to €1.5m
- Taxes -€305,323
down €305,323 (-82.6%), from €369,808 to €64,484
- Financial charges +€122,944
up €122,944 (+40.8%), from €301,331 to €424,275
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 | €18,717,948 | €22,340,052 | +€3.6m | +19.4% |
| Fixed assets | 21/28 | €11,452,259 | €14,128,063 | +€2.7m | +23.4% |
| Intangible fixed assets | 21 | - | €25,024 | +€25,024 | |
| Tangible fixed assets | 22/27 | €11,452,259 | €14,103,038 | +€2.7m | +23.1% |
| Plant, machinery and equipment | 23 | €4,079,050 | €8,001,352 | +€3.9m | +96.2% |
| Furniture and vehicles | 24 | €53,738 | €40,341 | -€13,397 | -24.9% |
| Leasing and similar rights | 25 | €470,381 | €221,064 | -€249,317 | -53.0% |
| Assets under construction and advance payments | 27 | €6,849,090 | €5,840,282 | -€1.0m | -14.7% |
| Current assets | 29/58 | €7,265,689 | €8,211,989 | +€946,300 | +13.0% |
| Amounts receivable within one year | 40/41 | €7,261,641 | €8,201,285 | +€939,644 | +12.9% |
| Trade receivables | 40 | €550,250 | €1,269,604 | +€719,354 | +131% |
| Other amounts receivable | 41 | €6,711,391 | €6,931,682 | +€220,290 | +3.3% |
| Cash at bank and in hand | 54/58 | €1,056 | €1,235 | +€180 | +17.0% |
| Deferred charges and accrued income | 490/1 | €2,992 | €9,469 | +€6,476 | +216% |
| Total equity and liabilities | 10/49 | €18,717,948 | €22,340,052 | +€3.6m | +19.4% |
| Equity | 10/15 | €9,466,053 | €10,122,604 | +€656,551 | +6.9% |
| Reserves | 13 | €9,466,053 | €10,122,604 | +€656,551 | +6.9% |
| Non-distributable reserves | 130/1 | €1,090,031 | €1,090,031 | = | 0.0% |
| Financial assistance | 1313 | €1,090,031 | €1,090,031 | = | 0.0% |
| Distributable reserves | 133 | €8,376,022 | €9,032,573 | +€656,551 | +7.8% |
| Provisions and deferred taxes | 16 | - | €10,000 | +€10,000 | |
| Provisions for liabilities and charges | 160/5 | - | €10,000 | +€10,000 | |
| Major repairs and maintenance | 162 | - | €10,000 | +€10,000 | |
| Amounts payable | 17/49 | €9,251,895 | €12,207,448 | +€3.0m | +31.9% |
| Amounts payable after more than one year | 17 | €3,104,576 | €7,948,900 | +€4.8m | +156% |
| Financial debts | 170/4 | €3,104,576 | €7,948,900 | +€4.8m | +156% |
| Amounts payable within one year | 42/48 | €6,147,319 | €4,252,534 | -€1.9m | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €722,354 | €1,980,676 | +€1.3m | +174% |
| Financial debts | 43 | €3,190,568 | - | -€3.2m | |
| Credit institutions | 430/8 | €3,190,568 | - | -€3.2m | |
| Trade debts | 44 | €965,956 | €1,426,124 | +€460,169 | +47.6% |
| Suppliers | 440/4 | €965,956 | €1,426,124 | +€460,169 | +47.6% |
| Taxes, remuneration and social security | 45 | €176,005 | €84,589 | -€91,416 | -51.9% |
| Taxes | 450/3 | €167,017 | €6,896 | -€160,121 | -95.9% |
| Remuneration and social security | 454/9 | €8,988 | €77,693 | +€68,705 | +764% |
| Other amounts payable | 47/48 | €1,092,436 | €761,145 | -€331,292 | -30.3% |
| Accrued charges and deferred income | 492/3 | - | €6,015 | +€6,015 | |
| Non-recurring operating income | 76A | €29,540 | - | -€29,540 | |
| Remuneration, social security and pensions | 62 | €56,603 | €458,166 | +€401,562 | +709% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,180,493 | €1,515,620 | +€335,127 | +28.4% |
| Other operating charges | 640/8 | €8,993 | €13,418 | +€4,426 | +49.2% |
| Gross operating margin | 9900 | €4,415,618 | €3,117,690 | -€1.3m | -29.4% |
| Operating profit (loss) | 9901 | €3,169,530 | €1,130,486 | -€2.0m | -64.3% |
| Financial income | 75/76B | €9,622 | €14,824 | +€5,203 | +54.1% |
| Recurring financial income | 75 | €9,622 | €14,824 | +€5,203 | +54.1% |
| Financial charges | 65/66B | €301,331 | €424,275 | +€122,944 | +40.8% |
| Recurring financial charges | 65 | €301,331 | €424,275 | +€122,944 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €2,877,820 | €721,035 | -€2.2m | -74.9% |
| Income taxes | 67/77 | €369,808 | €64,484 | -€305,323 | -82.6% |
| Profit (loss) for the period | 9904 | €2,508,013 | €656,551 | -€1.9m | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,508,013 | €656,551 | -€1.9m | -73.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.