Be-Qwal: 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.
Be-Qwal
Largest movements
- Cash +€79,147
up €79,147 (+1455.6%), from €5,437 to €84,584
mainly Other debts (+€197,627) and Net result for the year (+€48,123)
- Tangible fixed assets -€42,246
down €42,246 (-5.6%), from €756,449 to €714,203
of which Land and buildings: -€24,965
- Receivables within one year -€14,587
down €14,587 (-47.4%), from €30,758 to €16,171
of which Trade receivables: -€15,550
- Other debts +€197,627
up €197,627 (+949.2%), from €20,821 to €218,447
- Profit (loss) carried forward -€130,877
down €130,877 (-93.8%), from €139,470 to €8,592
- Debts after one year -€34,537
down €34,537 (-6.0%), from €578,523 to €543,986
- Gross operating margin +€102,861
up €102,861 (+170.5%), from €60,323 to €163,185
- Financial charges +€35,239
up €35,239 (+161.3%), from €21,843 to €57,082
- Taxes +€14,146
up €14,146 (+10003.7%), from €141 to €14,288
- Write-downs -€3,400
no longer reported in 2025 (was €3,400)
- Depreciation -€1,907
down €1,907 (-4.3%), from €44,153 to €42,246
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 | €808,891 | €837,065 | +€28,174 | +3.5% |
| Fixed assets | 21/28 | €759,049 | €718,803 | -€40,246 | -5.3% |
| Tangible fixed assets | 22/27 | €756,449 | €714,203 | -€42,246 | -5.6% |
| Land and buildings | 22 | €730,859 | €705,894 | -€24,965 | -3.4% |
| Plant, machinery and equipment | 23 | €570 | €0 | -€570 | -100.0% |
| Furniture and vehicles | 24 | €13,734 | €2,209 | -€11,525 | -83.9% |
| Other tangible fixed assets | 26 | €11,286 | €6,100 | -€5,186 | -45.9% |
| Financial fixed assets | 28 | €2,600 | €4,600 | +€2,000 | +76.9% |
| Current assets | 29/58 | €49,842 | €118,262 | +€68,420 | +137.3% |
| Stocks and contracts in progress | 3 | €9,345 | €12,113 | +€2,767 | +29.6% |
| Stocks | 30/36 | €9,345 | €12,113 | +€2,767 | +29.6% |
| Amounts receivable within one year | 40/41 | €30,758 | €16,171 | -€14,587 | -47.4% |
| Trade receivables | 40 | €30,376 | €14,826 | -€15,550 | -51.2% |
| Other amounts receivable | 41 | €382 | €1,345 | +€963 | +252.2% |
| Cash at bank and in hand | 54/58 | €5,437 | €84,584 | +€79,147 | +1455.6% |
| Deferred charges and accrued income | 490/1 | €4,301 | €5,394 | +€1,093 | +25.4% |
| Total equity and liabilities | 10/49 | €808,891 | €837,065 | +€28,174 | +3.5% |
| Equity | 10/15 | €141,470 | €10,592 | -€130,877 | -92.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,470 | €8,592 | -€130,877 | -93.8% |
| Amounts payable | 17/49 | €667,421 | €826,473 | +€159,051 | +23.8% |
| Amounts payable after more than one year | 17 | €578,523 | €543,986 | -€34,537 | -6.0% |
| Financial debts | 170/4 | €578,523 | €543,986 | -€34,537 | -6.0% |
| Amounts payable within one year | 42/48 | €70,636 | €263,120 | +€192,483 | +272.5% |
| Current portion of amounts payable after more than one year | 42 | €33,975 | €34,537 | +€562 | +1.7% |
| Trade debts | 44 | €1,063 | €1,420 | +€357 | +33.6% |
| Suppliers | 440/4 | €1,063 | €1,420 | +€357 | +33.6% |
| Taxes, remuneration and social security | 45 | €14,779 | €8,716 | -€6,063 | -41.0% |
| Taxes | 450/3 | €12,529 | €8,716 | -€3,813 | -30.4% |
| Remuneration and social security | 454/9 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | €20,821 | €218,447 | +€197,627 | +949.2% |
| Accrued charges and deferred income | 492/3 | €18,262 | €19,367 | +€1,105 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,153 | €42,246 | -€1,907 | -4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,400 | - | -€3,400 | |
| Other operating charges | 640/8 | €126 | €1,624 | +€1,497 | +1183.8% |
| Gross operating margin | 9900 | €60,323 | €163,185 | +€102,861 | +170.5% |
| Operating profit (loss) | 9901 | €12,644 | €119,315 | +€106,671 | +843.7% |
| Financial income | 75/76B | €86 | €177 | +€91 | +105.5% |
| Recurring financial income | 75 | €86 | €177 | +€91 | +105.5% |
| Financial charges | 65/66B | €21,843 | €57,082 | +€35,239 | +161.3% |
| Recurring financial charges | 65 | €21,843 | €57,082 | +€35,239 | +161.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,113 | €62,410 | +€71,523 | |
| Income taxes | 67/77 | €141 | €14,288 | +€14,146 | +10003.7% |
| Profit (loss) for the period | 9904 | -€9,254 | €48,123 | +€57,377 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,254 | €48,123 | +€57,377 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.