AQUALITY: 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.
What changed
AQUALITY
NACE 46.323, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€169,364
2024 · €380,822-€211,459
Equity
€1.7m
2024 · €1.6m+€162,378
Cash
€157,465
2024 · €319,038-€161,572
Balance sheet total
€12.2m
2024 · €11.1m+€1.0m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+18.7%), from €6.2m to €7.3m
of which Trade receivables: +€788,120
- Cash -€161,572
down €161,572 (-50.6%), from €319,038 to €157,465
mainly Receivables within one year (-€1.2m) and Investment in fixed assets (net) (-€634,130)
Equity and liabilities
- Trade debts +€578,895
up €578,895 (+12.5%), from €4.6m to €5.2m
- Short-term financial debts +€539,256
up €539,256 (+56.1%), from €960,910 to €1.5m
- Debts after one year -€267,642
down €267,642 (-15.0%), from €1.8m to €1.5m
- Profit (loss) carried forward +€165,453
up €165,453 (+16.1%), from €1.0m to €1.2m
- Other debts +€158,742
up €158,742, from €0 to €158,742
Income statement
- Turnover +€5.8m
up €5.8m (+13.8%), from €41.8m to €47.6m
- Goods and materials +€4.9m
up €4.9m (+15.9%), from €30.6m to €35.5m
of which Purchases: +€4.8m
- Staff costs +€830,737
up €830,737 (+16.9%), from €4.9m to €5.7m
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.
Result 2024
€380,822
Turnover
+€5.8m
Other operating income
+€274,363
Goods and materials
-€4.9m
Services and other goods
-€354,312
Staff costs
-€830,737
Depreciation
-€105,447
Write-downs
-€92,504
Other operating charges
+€17,384
Other operating items
-€17,213
Financial income
-€58,449
Financial charges
+€3,176
Taxes
+€87,698
Deferred taxes and other
-€13,560
Result 2025
€169,364
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.
From operations
+€332,770
Investment
-€634,130
Financing
+€139,788
Cash 2024
€319,038
From operations (derived)
+€332,770
Net result for the year
+€169,364
Depreciation
+€674,977
Stocks and contracts
-€79,119
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€4,946
Provisions
+€1,303
Trade debts
+€578,895
Tax, wage and social debts
-€15,097
Other debts
+€158,742
Accrued charges and deferred income
+€3,503
Investment (derived)
-€634,130
Investment in fixed assets (net)
-€634,130
Financing
+€139,788
Debts after one year
-€267,642
Current portion of long-term debt
-€124,840
Short-term financial debts
+€539,256
Contributions, distributions and other
-€6,986
Cash 2025
€157,465
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,138,721 | €12,175,218 | +€1.0m | +9.3% |
| Fixed assets | 21/28 | €3,597,354 | €3,556,507 | -€40,848 | -1.1% |
| Intangible fixed assets | 21 | €1,370,690 | €1,376,509 | +€5,819 | +0.4% |
| Tangible fixed assets | 22/27 | €2,105,061 | €2,137,459 | +€32,398 | +1.5% |
| Plant, machinery and equipment | 23 | €248,547 | €326,795 | +€78,249 | +31.5% |
| Furniture and vehicles | 24 | €128,139 | €85,241 | -€42,898 | -33.5% |
| Leasing and similar rights | 25 | €889,618 | €941,770 | +€52,152 | +5.9% |
| Other tangible fixed assets | 26 | €838,758 | €783,653 | -€55,105 | -6.6% |
| Financial fixed assets | 28 | €121,603 | €42,538 | -€79,065 | -65.0% |
| Other financial fixed assets | 284/8 | €121,603 | €42,538 | -€79,065 | -65.0% |
| Amounts receivable and cash guarantees | 285/8 | €121,603 | €42,538 | -€79,065 | -65.0% |
| Current assets | 29/58 | €7,541,366 | €8,618,712 | +€1.1m | +14.3% |
| Stocks and contracts in progress | 3 | €1,010,665 | €1,089,784 | +€79,119 | +7.8% |
| Stocks | 30/36 | €1,010,665 | €1,089,784 | +€79,119 | +7.8% |
| Raw materials and consumables | 30/31 | €15,000 | €15,000 | = | 0.0% |
| Goods purchased for resale | 34 | €995,665 | €1,074,784 | +€79,119 | +7.9% |
| Amounts receivable within one year | 40/41 | €6,183,722 | €7,338,574 | +€1.2m | +18.7% |
| Trade receivables | 40 | €5,478,029 | €6,266,148 | +€788,120 | +14.4% |
| Other amounts receivable | 41 | €705,694 | €1,072,426 | +€366,732 | +52.0% |
| Cash at bank and in hand | 54/58 | €319,038 | €157,465 | -€161,572 | -50.6% |
| Deferred charges and accrued income | 490/1 | €27,942 | €32,888 | +€4,946 | +17.7% |
| Total equity and liabilities | 10/49 | €11,138,721 | €12,175,218 | +€1.0m | +9.3% |
| Equity | 10/15 | €1,550,902 | €1,713,281 | +€162,378 | +10.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €282,685 | €286,595 | +€3,910 | +1.4% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €266,198 | €270,108 | +€3,910 | +1.5% |
| Distributable reserves | 133 | €1,487 | €1,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,030,449 | €1,195,903 | +€165,453 | +16.1% |
| Investment grants | 15 | €87,768 | €80,782 | -€6,986 | -8.0% |
| Provisions and deferred taxes | 16 | €81,649 | €82,953 | +€1,303 | +1.6% |
| Deferred taxes | 168 | €81,649 | €82,953 | +€1,303 | +1.6% |
| Amounts payable | 17/49 | €9,506,169 | €10,378,985 | +€872,816 | +9.2% |
| Amounts payable after more than one year | 17 | €1,786,875 | €1,519,232 | -€267,642 | -15.0% |
| Financial debts | 170/4 | €1,786,875 | €1,519,232 | -€267,642 | -15.0% |
| Subordinated loans | 170 | €200,000 | €0 | -€200,000 | -100.0% |
| Leasing and similar obligations | 172 | €722,298 | €731,627 | +€9,329 | +1.3% |
| Credit institutions | 173 | €783,816 | €745,092 | -€38,724 | -4.9% |
| Other loans | 174 | €80,760 | €42,514 | -€38,247 | -47.4% |
| Amounts payable within one year | 42/48 | €7,709,521 | €8,846,477 | +€1.1m | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €836,097 | €711,258 | -€124,840 | -14.9% |
| Financial debts | 43 | €960,910 | €1,500,165 | +€539,256 | +56.1% |
| Credit institutions | 430/8 | €960,910 | €1,500,165 | +€539,256 | +56.1% |
| Trade debts | 44 | €4,630,801 | €5,209,697 | +€578,895 | +12.5% |
| Suppliers | 440/4 | €4,630,801 | €5,209,697 | +€578,895 | +12.5% |
| Taxes, remuneration and social security | 45 | €1,281,713 | €1,266,616 | -€15,097 | -1.2% |
| Taxes | 450/3 | €660,348 | €536,329 | -€124,019 | -18.8% |
| Remuneration and social security | 454/9 | €621,364 | €730,287 | +€108,922 | +17.5% |
| Other amounts payable | 47/48 | €0 | €158,742 | +€158,742 | |
| Accrued charges and deferred income | 492/3 | €9,773 | €13,276 | +€3,503 | +35.8% |
| Operating income | 70/76A | €42,087,654 | €48,114,386 | +€6.0m | +14.3% |
| Turnover | 70 | €41,814,081 | €47,566,450 | +€5.8m | +13.8% |
| Other operating income | 74 | €273,573 | €547,936 | +€274,363 | +100.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €41,329,071 | €47,586,126 | +€6.3m | +15.1% |
| Goods for resale, raw materials and consumables | 60 | €30,605,505 | €35,479,730 | +€4.9m | +15.9% |
| Purchases | 600/8 | €30,720,984 | €35,518,142 | +€4.8m | +15.6% |
| Change in stocks: decrease (increase) | 609 | -€115,479 | -€38,412 | +€77,067 | +66.7% |
| Services and other goods | 61 | €4,992,911 | €5,347,224 | +€354,312 | +7.1% |
| Remuneration, social security and pensions | 62 | €4,904,110 | €5,734,848 | +€830,737 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €569,530 | €674,977 | +€105,447 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50,453 | €142,956 | +€92,504 | +183.3% |
| Other operating charges | 640/8 | €206,562 | €189,178 | -€17,384 | -8.4% |
| Non-recurring operating charges | 66A | €0 | €17,213 | +€17,213 | |
| Operating profit (loss) | 9901 | €758,583 | €528,260 | -€230,323 | -30.4% |
| Financial income | 75/76B | €77,087 | €18,638 | -€58,449 | -75.8% |
| Recurring financial income | 75 | €77,087 | €18,638 | -€58,449 | -75.8% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €15,317 | €11,629 | -€3,688 | -24.1% |
| Other financial income | 752/9 | €61,771 | €7,009 | -€54,761 | -88.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €224,731 | €221,555 | -€3,176 | -1.4% |
| Recurring financial charges | 65 | €224,731 | €221,555 | -€3,176 | -1.4% |
| Debt charges | 650 | €200,863 | €186,374 | -€14,489 | -7.2% |
| Other financial charges | 652/9 | €23,868 | €35,181 | +€11,314 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €610,939 | €325,343 | -€285,597 | -46.7% |
| Transfer from deferred taxes | 780 | €12,257 | €5,477 | -€6,780 | -55.3% |
| Transfer to deferred taxes | 680 | €0 | €6,780 | +€6,780 | |
| Income taxes | 67/77 | €242,374 | €154,676 | -€87,698 | -36.2% |
| Taxes | 670/3 | €242,374 | €154,676 | -€87,698 | -36.2% |
| Profit (loss) for the period | 9904 | €380,822 | €169,364 | -€211,459 | -55.5% |
| Transfer from tax-exempt reserves | 789 | €36,770 | €16,431 | -€20,339 | -55.3% |
| Transfer to tax-exempt reserves | 689 | €0 | €20,341 | +€20,341 | |
| Profit (loss) for the period to be appropriated | 9905 | €417,592 | €165,453 | -€252,139 | -60.4% |
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 3 October 2026 via checked.be.