CQM Welding: 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.
CQM Welding
Largest movements
- Tangible fixed assets +€73,655
up €73,655 (+268%), from €27,486 to €101,141
- Cash -€58,587
down €58,587 (-94.5%), from €61,996 to €3,409
mainly Investment in fixed assets (net) (-€88,769) and Receivables within one year (-€30,208)
- Receivables within one year +€30,208
up €30,208 (+208%), from €14,540 to €44,747
of which Trade receivables: +€29,271
- Deferred charges and accrued income +€2,898
up €2,898 (+1,375%), from €211 to €3,108
- Financial fixed assets +€2,700
new in 2025: €2,700
- Debts after one year +€39,836
up €39,836 (+503%), from €7,922 to €47,758
- Profit (loss) carried forward -€27,058
new in 2025: -€27,058
- Trade debts +€23,437
up €23,437 (+436%), from €5,375 to €28,813
- Current portion of long-term debt +€12,769
up €12,769 (+332%), from €3,842 to €16,611
- Staff costs +€66,315
new in 2025: €66,315
- Gross operating margin -€26,328
down €26,328 (-27.6%), from €95,469 to €69,141
- Taxes -€18,227
down €18,227 (-98.1%), from €18,571 to €344
- Depreciation +€10,884
up €10,884 (+712%), from €1,530 to €12,413
- Write-downs +€7,938
new in 2025: €7,938
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 | €104,232 | €155,106 | +€50,873 | +48.8% |
| Fixed assets | 21/28 | €27,486 | €103,841 | +€76,355 | +278% |
| Tangible fixed assets | 22/27 | €27,486 | €101,141 | +€73,655 | +268% |
| Land and buildings | 22 | €8,834 | €41,062 | +€32,229 | +365% |
| Plant, machinery and equipment | 23 | €18,652 | €47,863 | +€29,211 | +157% |
| Furniture and vehicles | 24 | - | €12,216 | +€12,216 | |
| Financial fixed assets | 28 | - | €2,700 | +€2,700 | |
| Current assets | 29/58 | €76,746 | €51,264 | -€25,482 | -33.2% |
| Amounts receivable within one year | 40/41 | €14,540 | €44,747 | +€30,208 | +208% |
| Trade receivables | 40 | €14,251 | €43,522 | +€29,271 | +205% |
| Other amounts receivable | 41 | €289 | €1,226 | +€936 | +324% |
| Cash at bank and in hand | 54/58 | €61,996 | €3,409 | -€58,587 | -94.5% |
| Deferred charges and accrued income | 490/1 | €211 | €3,108 | +€2,898 | +1,375% |
| Total equity and liabilities | 10/49 | €104,232 | €155,106 | +€50,873 | +48.8% |
| Equity | 10/15 | €74,148 | €47,090 | -€27,058 | -36.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,148 | €72,148 | = | 0.0% |
| Distributable reserves | 133 | €72,148 | €72,148 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€27,058 | -€27,058 | |
| Amounts payable | 17/49 | €30,085 | €108,016 | +€77,931 | +259% |
| Amounts payable after more than one year | 17 | €7,922 | €47,758 | +€39,836 | +503% |
| Financial debts | 170/4 | €7,922 | €47,758 | +€39,836 | +503% |
| Amounts payable within one year | 42/48 | €22,163 | €60,258 | +€38,095 | +172% |
| Current portion of amounts payable after more than one year | 42 | €3,842 | €16,611 | +€12,769 | +332% |
| Trade debts | 44 | €5,375 | €28,813 | +€23,437 | +436% |
| Suppliers | 440/4 | €5,375 | €28,813 | +€23,437 | +436% |
| Taxes, remuneration and social security | 45 | €12,827 | €13,983 | +€1,156 | +9.0% |
| Taxes | 450/3 | €12,827 | €6,348 | -€6,479 | -50.5% |
| Remuneration and social security | 454/9 | - | €7,635 | +€7,635 | |
| Other amounts payable | 47/48 | €118 | €851 | +€733 | +621% |
| Remuneration, social security and pensions | 62 | - | €66,315 | +€66,315 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,530 | €12,413 | +€10,884 | +712% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,938 | +€7,938 | |
| Other operating charges | 640/8 | €1,041 | €3,318 | +€2,277 | +219% |
| Gross operating margin | 9900 | €95,469 | €69,141 | -€26,328 | -27.6% |
| Operating profit (loss) | 9901 | €92,899 | -€20,843 | -€113,742 | |
| Financial income | 75/76B | €42 | €89 | +€46 | +110% |
| Recurring financial income | 75 | €42 | €89 | +€46 | +110% |
| Financial charges | 65/66B | €2,222 | €5,959 | +€3,737 | +168% |
| Recurring financial charges | 65 | €2,222 | €5,959 | +€3,737 | +168% |
| Profit (loss) for the period before taxes | 9903 | €90,719 | -€26,713 | -€117,432 | |
| Income taxes | 67/77 | €18,571 | €344 | -€18,227 | -98.1% |
| Profit (loss) for the period | 9904 | €72,148 | -€27,058 | -€99,205 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,148 | -€27,058 | -€99,205 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.