CQS TECHNOLOGIES: what changed
Two fiscal 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.
CQS TECHNOLOGIES
Largest movements
- Cash -€132,966
down €132,966 (-57.3%), from €232,216 to €99,251
mainly Trade debts (-€130,581) and Debts after one year (-€130,549)
- Stocks and contracts -€21,797
down €21,797 (-5.3%), from €411,772 to €389,975
- Receivables within one year +€18,644
up €18,644 (+5.7%), from €325,185 to €343,829
of which Trade receivables: +€52,317
- Trade debts -€130,581
down €130,581 (-36.4%), from €358,859 to €228,278
- Debts after one year -€130,549
down €130,549 (-45.7%), from €285,671 to €155,121
of which Other amounts payable: -€100,000
- Profit (loss) carried forward +€89,055
up €89,055 (+40.5%), from €220,016 to €309,070
- Tax, wage and social debts +€26,098
up €26,098 (+213.7%), from €12,212 to €38,310
of which Taxes: +€21,748
- Gross operating margin +€79,173
up €79,173 (+41.4%), from €191,040 to €270,213
- Staff costs +€23,234
up €23,234 (+19.2%), from €121,295 to €144,529
- Taxes +€16,736
up €16,736 (+110.0%), from €15,221 to €31,957
- Write-downs -€3,796
down €3,796 (-100.0%), from €3,796 to €0
- Other operating charges -€3,389
down €3,389 (-63.1%), from €5,369 to €1,981
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 | €981,914 | €836,238 | -€145,675 | -14.8% |
| Fixed assets | 21/28 | €6,428 | €625 | -€5,803 | -90.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €839 | €625 | -€214 | -25.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €839 | €625 | -€214 | -25.5% |
| Financial fixed assets | 28 | €5,588 | €0 | -€5,588 | -100.0% |
| Current assets | 29/58 | €975,486 | €835,613 | -€139,873 | -14.3% |
| Stocks and contracts in progress | 3 | €411,772 | €389,975 | -€21,797 | -5.3% |
| Stocks | 30/36 | €411,772 | €389,975 | -€21,797 | -5.3% |
| Amounts receivable within one year | 40/41 | €325,185 | €343,829 | +€18,644 | +5.7% |
| Trade receivables | 40 | €283,241 | €335,558 | +€52,317 | +18.5% |
| Other amounts receivable | 41 | €41,944 | €8,272 | -€33,672 | -80.3% |
| Cash at bank and in hand | 54/58 | €232,216 | €99,251 | -€132,966 | -57.3% |
| Deferred charges and accrued income | 490/1 | €6,312 | €2,558 | -€3,754 | -59.5% |
| Total equity and liabilities | 10/49 | €981,914 | €836,238 | -€145,675 | -14.8% |
| Equity | 10/15 | €294,926 | €383,980 | +€89,055 | +30.2% |
| Contributions | 10/11 | €68,100 | €68,100 | = | 0.0% |
| Capital | 10 | €68,100 | €68,100 | = | 0.0% |
| Issued capital | 100 | €68,100 | €68,100 | = | 0.0% |
| Reserves | 13 | €6,810 | €6,810 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,810 | €6,810 | = | 0.0% |
| Legal reserve | 130 | €6,810 | €6,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,016 | €309,070 | +€89,055 | +40.5% |
| Amounts payable | 17/49 | €686,988 | €452,258 | -€234,730 | -34.2% |
| Amounts payable after more than one year | 17 | €285,671 | €155,121 | -€130,549 | -45.7% |
| Financial debts | 170/4 | €35,671 | €5,121 | -€30,549 | -85.6% |
| Other amounts payable | 178/9 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Amounts payable within one year | 42/48 | €401,317 | €297,137 | -€104,181 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €30,247 | €30,549 | +€303 | +1.0% |
| Trade debts | 44 | €358,859 | €228,278 | -€130,581 | -36.4% |
| Suppliers | 440/4 | €358,859 | €228,278 | -€130,581 | -36.4% |
| Taxes, remuneration and social security | 45 | €12,212 | €38,310 | +€26,098 | +213.7% |
| Taxes | 450/3 | €217 | €21,965 | +€21,748 | +10009.0% |
| Remuneration and social security | 454/9 | €11,994 | €16,345 | +€4,350 | +36.3% |
| Remuneration, social security and pensions | 62 | €121,295 | €144,529 | +€23,234 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,857 | €214 | -€1,643 | -88.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,796 | €0 | -€3,796 | -100.0% |
| Other operating charges | 640/8 | €5,369 | €1,981 | -€3,389 | -63.1% |
| Gross operating margin | 9900 | €191,040 | €270,213 | +€79,173 | +41.4% |
| Operating profit (loss) | 9901 | €58,724 | €123,490 | +€64,766 | +110.3% |
| Financial income | 75/76B | €32 | €56 | +€24 | +76.7% |
| Recurring financial income | 75 | €32 | €56 | +€24 | +76.7% |
| Financial charges | 65/66B | €3,459 | €2,533 | -€926 | -26.8% |
| Recurring financial charges | 65 | €3,459 | €2,533 | -€926 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €55,296 | €121,012 | +€65,716 | +118.8% |
| Income taxes | 67/77 | €15,221 | €31,957 | +€16,736 | +110.0% |
| Profit (loss) for the period | 9904 | €40,075 | €89,055 | +€48,980 | +122.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,075 | €89,055 | +€48,980 | +122.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.