AQLV: 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.
AQLV
Largest movements
- Current investments +€61,000
up €61,000 (+73.1%), from €83,500 to €144,500
- Cash +€30,575
up €30,575 (+19.7%), from €155,142 to €185,718
mainly Net result for the year (+€147,163) and Tax, wage and social debts (+€43,732)
- Receivables after one year +€25,000
up €25,000 (+14.3%), from €175,000 to €200,000
- Receivables within one year +€13,930
up €13,930 (+169.2%), from €8,232 to €22,162
- Reserves +€147,163
up €147,163 (+43.8%), from €336,090 to €483,254
- Accrued charges and deferred income -€46,017
no longer reported in 2025 (was €46,017)
- Tax, wage and social debts +€43,732
up €43,732 (+138.4%), from €31,595 to €75,328
of which Taxes: +€43,732
- Debts after one year -€13,040
down €13,040 (-62.5%), from €20,873 to €7,833
- Gross operating margin +€63,403
up €63,403 (+46.3%), from €137,059 to €200,462
- Taxes +€15,382
up €15,382 (+53.0%), from €29,004 to €44,386
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 | €465,007 | €594,518 | +€129,510 | +27.9% |
| Fixed assets | 21/28 | €42,658 | €41,663 | -€996 | -2.3% |
| Tangible fixed assets | 22/27 | €42,658 | €41,663 | -€996 | -2.3% |
| Plant, machinery and equipment | 23 | €3,233 | €3,108 | -€125 | -3.9% |
| Furniture and vehicles | 24 | €39,425 | €28,733 | -€10,693 | -27.1% |
| Other tangible fixed assets | 26 | - | €9,822 | +€9,822 | |
| Current assets | 29/58 | €422,349 | €552,855 | +€130,506 | +30.9% |
| Amounts receivable after more than one year | 29 | €175,000 | €200,000 | +€25,000 | +14.3% |
| Other amounts receivable | 291 | €175,000 | €200,000 | +€25,000 | +14.3% |
| Amounts receivable within one year | 40/41 | €8,232 | €22,162 | +€13,930 | +169.2% |
| Trade receivables | 40 | €8,232 | €22,162 | +€13,930 | +169.2% |
| Current investments | 50/53 | €83,500 | €144,500 | +€61,000 | +73.1% |
| Cash at bank and in hand | 54/58 | €155,142 | €185,718 | +€30,575 | +19.7% |
| Deferred charges and accrued income | 490/1 | €475 | €475 | = | 0.0% |
| Total equity and liabilities | 10/49 | €465,007 | €594,518 | +€129,510 | +27.9% |
| Equity | 10/15 | €341,090 | €488,254 | +€147,163 | +43.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €336,090 | €483,254 | +€147,163 | +43.8% |
| Distributable reserves | 133 | €336,090 | €483,254 | +€147,163 | +43.8% |
| Amounts payable | 17/49 | €123,917 | €106,264 | -€17,653 | -14.2% |
| Amounts payable after more than one year | 17 | €20,873 | €7,833 | -€13,040 | -62.5% |
| Financial debts | 170/4 | €20,873 | €7,833 | -€13,040 | -62.5% |
| Amounts payable within one year | 42/48 | €57,028 | €98,431 | +€41,403 | +72.6% |
| Current portion of amounts payable after more than one year | 42 | €13,590 | €14,105 | +€514 | +3.8% |
| Trade debts | 44 | €1,709 | €1,636 | -€73 | -4.2% |
| Suppliers | 440/4 | €1,709 | €1,636 | -€73 | -4.2% |
| Taxes, remuneration and social security | 45 | €31,595 | €75,328 | +€43,732 | +138.4% |
| Taxes | 450/3 | €28,167 | €71,899 | +€43,732 | +155.3% |
| Remuneration and social security | 454/9 | €3,428 | €3,428 | = | 0.0% |
| Other amounts payable | 47/48 | €10,133 | €7,362 | -€2,771 | -27.3% |
| Accrued charges and deferred income | 492/3 | €46,017 | - | -€46,017 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,648 | €12,852 | +€1,204 | +10.3% |
| Other operating charges | 640/8 | €3,296 | €2,995 | -€302 | -9.1% |
| Gross operating margin | 9900 | €137,059 | €200,462 | +€63,403 | +46.3% |
| Operating profit (loss) | 9901 | €122,114 | €184,615 | +€62,501 | +51.2% |
| Financial income | 75/76B | €7,293 | €8,307 | +€1,014 | +13.9% |
| Recurring financial income | 75 | €7,293 | €8,307 | +€1,014 | +13.9% |
| Financial charges | 65/66B | €1,608 | €1,373 | -€235 | -14.6% |
| Recurring financial charges | 65 | €1,608 | €1,373 | -€235 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €127,800 | €191,549 | +€63,750 | +49.9% |
| Income taxes | 67/77 | €29,004 | €44,386 | +€15,382 | +53.0% |
| Profit (loss) for the period | 9904 | €98,796 | €147,163 | +€48,368 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,796 | €147,163 | +€48,368 | +49.0% |
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 8 October 2026 via checked.be.