BQON: what changed
BQON
Largest movements
- Receivables within one year -€33,097
down €33,097 (-72.3%), from €45,794 to €12,697
of which Trade receivables: -€27,077
- Tangible fixed assets -€18,152
down €18,152 (-30.2%), from €60,095 to €41,944
of which Furniture and vehicles: -€17,426
- Deferred charges and accrued income +€15,069
up €15,069 (+2,929%), from €514 to €15,583
- Cash -€11,745
down €11,745 (-30.3%), from €38,776 to €27,031
mainly Net result for the year (-€22,917) and Trade debts (-€17,670)
- Intangible fixed assets -€3,736
down €3,736 (-14.0%), from €26,666 to €22,929
- Profit (loss) carried forward -€21,057
new in 2025: -€21,057
- Trade debts -€17,670
down €17,670 (-75.9%), from €23,289 to €5,620
- Debts after one year -€17,157
down €17,157 (-34.4%), from €49,918 to €32,761
- Other debts +€10,870
new in 2025: €10,870
- Short-term financial debts -€4,297
down €4,297 (-50.8%), from €8,464 to €4,167
- Gross operating margin -€45,241
down €45,241 (-86.3%), from €52,424 to €7,183
- Taxes -€7,879
down €7,879 (-93.7%), from €8,412 to €533
- Depreciation +€2,281
up €2,281 (+10.6%), from €21,489 to €23,770
- Financial charges +€1,498
up €1,498 (+31.6%), from €4,733 to €6,230
- Financial income +€1,358
up €1,358 (+2,006%), from €68 to €1,426
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €243,038 | €191,832 | -€51,207 | -21.1% |
| Fixed assets | 21/28 | €86,761 | €64,873 | -€21,888 | -25.2% |
| Intangible fixed assets | 21 | €26,666 | €22,929 | -€3,736 | -14.0% |
| Tangible fixed assets | 22/27 | €60,095 | €41,944 | -€18,152 | -30.2% |
| Furniture and vehicles | 24 | €55,578 | €38,152 | -€17,426 | -31.4% |
| Other tangible fixed assets | 26 | €4,517 | €3,792 | -€725 | -16.1% |
| Current assets | 29/58 | €156,277 | €126,959 | -€29,319 | -18.8% |
| Stocks and contracts in progress | 3 | €3,694 | €3,035 | -€658 | -17.8% |
| Stocks | 30/36 | €3,694 | €3,035 | -€658 | -17.8% |
| Amounts receivable within one year | 40/41 | €45,794 | €12,697 | -€33,097 | -72.3% |
| Trade receivables | 40 | €27,077 | - | -€27,077 | |
| Other amounts receivable | 41 | €18,716 | €12,697 | -€6,019 | -32.2% |
| Current investments | 50/53 | €67,500 | €68,612 | +€1,112 | +1.6% |
| Cash at bank and in hand | 54/58 | €38,776 | €27,031 | -€11,745 | -30.3% |
| Deferred charges and accrued income | 490/1 | €514 | €15,583 | +€15,069 | +2,929% |
| Total equity and liabilities | 10/49 | €243,038 | €191,832 | -€51,207 | -21.1% |
| Equity | 10/15 | €140,236 | €117,319 | -€22,917 | -16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,636 | €119,776 | -€1,860 | -1.5% |
| Distributable reserves | 133 | €121,636 | €119,776 | -€1,860 | -1.5% |
| Profit (loss) carried forward | 14 | - | -€21,057 | -€21,057 | |
| Amounts payable | 17/49 | €102,803 | €74,513 | -€28,290 | -27.5% |
| Amounts payable after more than one year | 17 | €49,918 | €32,761 | -€17,157 | -34.4% |
| Financial debts | 170/4 | €49,918 | €32,761 | -€17,157 | -34.4% |
| Amounts payable within one year | 42/48 | €52,885 | €41,752 | -€11,133 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €16,436 | €17,157 | +€722 | +4.4% |
| Financial debts | 43 | €8,464 | €4,167 | -€4,297 | -50.8% |
| Credit institutions | 430/8 | €8,464 | €4,167 | -€4,297 | -50.8% |
| Trade debts | 44 | €23,289 | €5,620 | -€17,670 | -75.9% |
| Suppliers | 440/4 | €23,289 | €5,620 | -€17,670 | -75.9% |
| Taxes, remuneration and social security | 45 | €4,696 | €3,938 | -€758 | -16.1% |
| Taxes | 450/3 | €4,696 | €3,938 | -€758 | -16.1% |
| Other amounts payable | 47/48 | - | €10,870 | +€10,870 | |
| Non-recurring operating income | 76A | €10,801 | €3,849 | -€6,952 | -64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,489 | €23,770 | +€2,281 | +10.6% |
| Other operating charges | 640/8 | €1,443 | €992 | -€451 | -31.3% |
| Gross operating margin | 9900 | €52,424 | €7,183 | -€45,241 | -86.3% |
| Operating profit (loss) | 9901 | €29,492 | -€17,579 | -€47,071 | |
| Financial income | 75/76B | €68 | €1,426 | +€1,358 | +2,006% |
| Recurring financial income | 75 | €68 | €1,426 | +€1,358 | +2,006% |
| Financial charges | 65/66B | €4,733 | €6,230 | +€1,498 | +31.6% |
| Recurring financial charges | 65 | €4,733 | €6,230 | +€1,498 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | €24,827 | -€22,383 | -€47,210 | |
| Income taxes | 67/77 | €8,412 | €533 | -€7,879 | -93.7% |
| Profit (loss) for the period | 9904 | €16,415 | -€22,917 | -€39,332 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,415 | -€22,917 | -€39,332 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.