CardQwest: 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.
CardQwest
Largest movements
- Deferred charges and accrued income +€148,602
up €148,602 (+3,566%), from €4,167 to €152,769
- Cash -€50,084
down €50,084 (-64.7%), from €77,379 to €27,295
mainly Net result for the year (-€182,367) and Deferred charges and accrued income (-€148,602)
- Receivables within one year +€3,391
up €3,391 (+3.1%), from €110,182 to €113,573
of which Other amounts receivable: +€61,158
- Trade debts +€339,835
up €339,835 (+833%), from €40,813 to €380,649
- Profit (loss) carried forward -€182,367
down €182,367, from €68,410 to -€113,956
- Other debts -€34,038
down €34,038 (-57.6%), from €59,088 to €25,050
- Tax, wage and social debts -€21,522
down €21,522 (-96.0%), from €22,417 to €895
- Write-downs +€100,776
new in 2025: €100,776
- Gross operating margin -€84,009
down €84,009, from €3,279 to -€80,730
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 | €191,728 | €293,637 | +€101,909 | +53.2% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €191,728 | €293,637 | +€101,909 | +53.2% |
| Amounts receivable within one year | 40/41 | €110,182 | €113,573 | +€3,391 | +3.1% |
| Trade receivables | 40 | €79,286 | €21,518 | -€57,768 | -72.9% |
| Other amounts receivable | 41 | €30,897 | €92,055 | +€61,158 | +198% |
| Cash at bank and in hand | 54/58 | €77,379 | €27,295 | -€50,084 | -64.7% |
| Deferred charges and accrued income | 490/1 | €4,167 | €152,769 | +€148,602 | +3,566% |
| Total equity and liabilities | 10/49 | €191,728 | €293,637 | +€101,909 | +53.2% |
| Equity | 10/15 | €69,410 | -€112,956 | -€182,367 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,410 | -€113,956 | -€182,367 | |
| Amounts payable | 17/49 | €122,318 | €406,593 | +€284,275 | +232% |
| Amounts payable within one year | 42/48 | €122,318 | €406,593 | +€284,275 | +232% |
| Trade debts | 44 | €40,813 | €380,649 | +€339,835 | +833% |
| Suppliers | 440/4 | €40,813 | €380,649 | +€339,835 | +833% |
| Taxes, remuneration and social security | 45 | €22,417 | €895 | -€21,522 | -96.0% |
| Taxes | 450/3 | €22,417 | €895 | -€21,522 | -96.0% |
| Other amounts payable | 47/48 | €59,088 | €25,050 | -€34,038 | -57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €100,776 | +€100,776 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €3,279 | -€80,730 | -€84,009 | |
| Operating profit (loss) | 9901 | €2,892 | -€181,906 | -€184,798 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -60.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -60.0% |
| Financial charges | 65/66B | €591 | €153 | -€438 | -74.1% |
| Recurring financial charges | 65 | €591 | €153 | -€438 | -74.1% |
| Profit (loss) for the period before taxes | 9903 | €2,301 | -€182,059 | -€184,360 | |
| Income taxes | 67/77 | €587 | €308 | -€279 | -47.5% |
| Profit (loss) for the period | 9904 | €1,714 | -€182,367 | -€184,081 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,714 | -€182,367 | -€184,081 |
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 27 October 2026 via checked.be.