AQ PARTNERS: 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 PARTNERS
Largest movements
- Cash -€714,694
down €714,694 (-53.1%), from €1.3m to €631,946
mainly Debts after one year (-€382,048) and Investment in fixed assets (net) (-€241,869)
- Receivables within one year -€181,553
down €181,553 (-97.9%), from €185,500 to €3,947
of which Trade receivables: -€185,500
- Financial fixed assets +€100,000
up €100,000 (+10.6%), from €940,580 to €1.0m
- Tangible fixed assets +€48,063
up €48,063 (+2.1%), from €2.3m to €2.3m
of which Other tangible fixed assets: +€71,567
- Debts after one year -€382,048
down €382,048 (-21.3%), from €1.8m to €1.4m
of which Other amounts payable: -€336,646
- Reserves -€200,669
down €200,669 (-8.4%), from €2.4m to €2.2m
- Tax, wage and social debts -€130,845
down €130,845 (-96.1%), from €136,207 to €5,363
- Profit (loss) carried forward -€93,107
down €93,107 (-58.0%), from €160,478 to €67,370
- Accrued charges and deferred income +€54,486
up €54,486 (+24.5%), from €222,361 to €276,846
- Financial income -€1.5m
down €1.5m (-99.7%), from €1.5m to €4,480
- Taxes -€126,072
down €126,072 (-99.8%), from €126,388 to €316
- Gross operating margin +€35,547
up €35,547 (+104%), from €34,303 to €69,850
- Depreciation +€30,549
up €30,549 (+48.3%), from €63,258 to €93,806
- Financial charges -€10,210
down €10,210 (-13.2%), from €77,177 to €66,968
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 | €4,762,659 | €4,014,897 | -€747,762 | -15.7% |
| Fixed assets | 21/28 | €3,226,849 | €3,374,912 | +€148,063 | +4.6% |
| Tangible fixed assets | 22/27 | €2,286,269 | €2,334,332 | +€48,063 | +2.1% |
| Land and buildings | 22 | €1,143,106 | €1,112,577 | -€30,529 | -2.7% |
| Furniture and vehicles | 24 | €143,849 | €150,873 | +€7,025 | +4.9% |
| Other tangible fixed assets | 26 | €358,315 | €429,881 | +€71,567 | +20.0% |
| Assets under construction and advance payments | 27 | €641,000 | €641,000 | = | 0.0% |
| Financial fixed assets | 28 | €940,580 | €1,040,580 | +€100,000 | +10.6% |
| Current assets | 29/58 | €1,535,810 | €639,986 | -€895,824 | -58.3% |
| Amounts receivable within one year | 40/41 | €185,500 | €3,947 | -€181,553 | -97.9% |
| Trade receivables | 40 | €185,500 | - | -€185,500 | |
| Other amounts receivable | 41 | - | €3,947 | +€3,947 | |
| Cash at bank and in hand | 54/58 | €1,346,640 | €631,946 | -€714,694 | -53.1% |
| Deferred charges and accrued income | 490/1 | €3,670 | €4,093 | +€422 | +11.5% |
| Total equity and liabilities | 10/49 | €4,762,659 | €4,014,897 | -€747,762 | -15.7% |
| Equity | 10/15 | €2,561,730 | €2,267,953 | -€293,776 | -11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,382,652 | €2,181,983 | -€200,669 | -8.4% |
| Distributable reserves | 133 | €2,382,652 | €2,181,983 | -€200,669 | -8.4% |
| Profit (loss) carried forward | 14 | €160,478 | €67,370 | -€93,107 | -58.0% |
| Amounts payable | 17/49 | €2,200,930 | €1,746,944 | -€453,985 | -20.6% |
| Amounts payable after more than one year | 17 | €1,794,997 | €1,412,949 | -€382,048 | -21.3% |
| Financial debts | 170/4 | €542,849 | €497,447 | -€45,402 | -8.4% |
| Other amounts payable | 178/9 | €1,252,147 | €915,501 | -€336,646 | -26.9% |
| Amounts payable within one year | 42/48 | €183,572 | €57,149 | -€126,423 | -68.9% |
| Current portion of amounts payable after more than one year | 42 | €44,777 | €45,402 | +€625 | +1.4% |
| Trade debts | 44 | €376 | €6,175 | +€5,798 | +1,541% |
| Suppliers | 440/4 | €376 | €6,175 | +€5,798 | +1,541% |
| Taxes, remuneration and social security | 45 | €136,207 | €5,363 | -€130,845 | -96.1% |
| Taxes | 450/3 | €136,207 | €5,363 | -€130,845 | -96.1% |
| Other amounts payable | 47/48 | €2,211 | €210 | -€2,001 | -90.5% |
| Accrued charges and deferred income | 492/3 | €222,361 | €276,846 | +€54,486 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,258 | €93,806 | +€30,549 | +48.3% |
| Other operating charges | 640/8 | €10,723 | €6,347 | -€4,377 | -40.8% |
| Gross operating margin | 9900 | €34,303 | €69,850 | +€35,547 | +104% |
| Operating profit (loss) | 9901 | -€39,678 | -€30,303 | +€9,374 | +23.6% |
| Financial income | 75/76B | €1,501,679 | €4,480 | -€1.5m | -99.7% |
| Recurring financial income | 75 | €1,501,679 | €4,480 | -€1.5m | -99.7% |
| Financial charges | 65/66B | €77,177 | €66,968 | -€10,210 | -13.2% |
| Recurring financial charges | 65 | €77,177 | €66,968 | -€10,210 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €1,384,824 | -€92,791 | -€1.5m | |
| Income taxes | 67/77 | €126,388 | €316 | -€126,072 | -99.8% |
| Profit (loss) for the period | 9904 | €1,258,436 | -€93,107 | -€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,258,436 | -€93,107 | -€1.4m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.