CQE Management: 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.
CQE Management
Largest movements
- Receivables within one year +€30,647
up €30,647 (+127.9%), from €23,956 to €54,603
of which Trade receivables: +€15,773
- Profit (loss) carried forward +€34,805
up €34,805 (+78.1%), from -€44,569 to -€9,763
- Trade debts -€20,045
down €20,045 (-88.4%), from €22,671 to €2,626
- Short-term financial debts -€17,076
no longer reported in 2025 (was €17,076)
- Tax, wage and social debts +€16,486
up €16,486 (+57.8%), from €28,532 to €45,018
of which Remuneration and social security: +€17,609
- Current portion of long-term debt +€10,828
up €10,828 (+70.4%), from €15,386 to €26,214
- Gross operating margin +€33,820
up €33,820 (+38.2%), from €88,565 to €122,386
- Financial charges -€1,809
down €1,809 (-36.3%), from €4,978 to €3,170
- Staff costs -€1,754
down €1,754 (-2.2%), from €78,949 to €77,196
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,573 | €92,011 | +€30,438 | +49.4% |
| Fixed assets | 21/28 | €6,076 | €6,592 | +€517 | +8.5% |
| Tangible fixed assets | 22/27 | €6,076 | €6,592 | +€517 | +8.5% |
| Land and buildings | 22 | €2,206 | €0 | -€2,206 | -100.0% |
| Plant, machinery and equipment | 23 | €2,922 | €3,329 | +€407 | +13.9% |
| Furniture and vehicles | 24 | €947 | €3,263 | +€2,316 | +244.6% |
| Current assets | 29/58 | €55,497 | €85,419 | +€29,922 | +53.9% |
| Amounts receivable after more than one year | 29 | €31,541 | €30,816 | -€725 | -2.3% |
| Other amounts receivable | 291 | €31,541 | €30,816 | -€725 | -2.3% |
| Amounts receivable within one year | 40/41 | €23,956 | €54,603 | +€30,647 | +127.9% |
| Trade receivables | 40 | €15,972 | €31,745 | +€15,773 | +98.8% |
| Other amounts receivable | 41 | €7,984 | €22,858 | +€14,874 | +186.3% |
| Total equity and liabilities | 10/49 | €61,573 | €92,011 | +€30,438 | +49.4% |
| Equity | 10/15 | -€22,092 | €12,713 | +€34,805 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,477 | €2,477 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €477 | €477 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,569 | -€9,763 | +€34,805 | +78.1% |
| Amounts payable | 17/49 | €83,665 | €79,298 | -€4,367 | -5.2% |
| Amounts payable within one year | 42/48 | €83,665 | €79,298 | -€4,367 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €15,386 | €26,214 | +€10,828 | +70.4% |
| Financial debts | 43 | €17,076 | - | -€17,076 | |
| Other loans | 439 | €17,076 | - | -€17,076 | |
| Trade debts | 44 | €22,671 | €2,626 | -€20,045 | -88.4% |
| Suppliers | 440/4 | €22,671 | €2,626 | -€20,045 | -88.4% |
| Taxes, remuneration and social security | 45 | €28,532 | €45,018 | +€16,486 | +57.8% |
| Taxes | 450/3 | €2,985 | €1,862 | -€1,123 | -37.6% |
| Remuneration and social security | 454/9 | €25,547 | €43,156 | +€17,609 | +68.9% |
| Other amounts payable | 47/48 | - | €5,440 | +€5,440 | |
| Remuneration, social security and pensions | 62 | €78,949 | €77,196 | -€1,754 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,353 | €5,488 | +€136 | +2.5% |
| Other operating charges | 640/8 | €1,781 | €1,726 | -€55 | -3.1% |
| Gross operating margin | 9900 | €88,565 | €122,386 | +€33,820 | +38.2% |
| Operating profit (loss) | 9901 | €2,482 | €37,975 | +€35,493 | +1430.0% |
| Financial income | 75/76B | €709 | - | -€709 | |
| Recurring financial income | 75 | €709 | - | -€709 | |
| Financial charges | 65/66B | €4,978 | €3,170 | -€1,809 | -36.3% |
| Recurring financial charges | 65 | €4,978 | €3,170 | -€1,809 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,787 | €34,805 | +€36,593 | |
| Profit (loss) for the period | 9904 | -€1,787 | €34,805 | +€36,593 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,787 | €34,805 | +€36,593 |
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.