CQUETS: 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.
CQUETS
Largest movements
- Receivables within one year +€44,910
up €44,910 (+260.6%), from €17,234 to €62,144
of which Trade receivables: +€45,494
- Cash +€33,640
up €33,640 (+510.5%), from €6,589 to €40,229
mainly Trade debts (+€35,867) and Net result for the year (+€32,698)
- Deferred charges and accrued income -€10,465
down €10,465 (-93.0%), from €11,248 to €783
- Tangible fixed assets -€8,046
down €8,046 (-34.2%), from €23,558 to €15,512
of which Plant, machinery and equipment: -€6,669
- Stocks and contracts +€1,744
up €1,744 (+13.2%), from €13,255 to €15,000
- Trade debts +€35,867
up €35,867 (+507.2%), from €7,072 to €42,939
- Other debts +€18,467
up €18,467 (+167.2%), from €11,044 to €29,511
- Reserves +€8,698
up €8,698 (+26.0%), from €33,446 to €42,144
- Debts after one year -€6,937
down €6,937 (-70.1%), from €9,894 to €2,957
- Tax, wage and social debts +€5,304
up €5,304 (+115.8%), from €4,580 to €9,883
of which Taxes: +€3,104
- Gross operating margin +€40,778
up €40,778 (+276.5%), from €14,748 to €55,526
- Taxes +€8,150
up €8,150 (+3435.8%), from €237 to €8,387
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 | €73,967 | €135,371 | +€61,404 | +83.0% |
| Fixed assets | 21/28 | €25,641 | €17,216 | -€8,425 | -32.9% |
| Intangible fixed assets | 21 | €1,033 | €654 | -€379 | -36.7% |
| Tangible fixed assets | 22/27 | €23,558 | €15,512 | -€8,046 | -34.2% |
| Plant, machinery and equipment | 23 | €19,878 | €13,209 | -€6,669 | -33.5% |
| Furniture and vehicles | 24 | €3,680 | €2,302 | -€1,378 | -37.4% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €48,326 | €118,155 | +€69,829 | +144.5% |
| Stocks and contracts in progress | 3 | €13,255 | €15,000 | +€1,744 | +13.2% |
| Stocks | 30/36 | €13,255 | €15,000 | +€1,744 | +13.2% |
| Amounts receivable within one year | 40/41 | €17,234 | €62,144 | +€44,910 | +260.6% |
| Trade receivables | 40 | €7,760 | €53,255 | +€45,494 | +586.2% |
| Other amounts receivable | 41 | €9,473 | €8,889 | -€584 | -6.2% |
| Cash at bank and in hand | 54/58 | €6,589 | €40,229 | +€33,640 | +510.5% |
| Deferred charges and accrued income | 490/1 | €11,248 | €783 | -€10,465 | -93.0% |
| Total equity and liabilities | 10/49 | €73,967 | €135,371 | +€61,404 | +83.0% |
| Equity | 10/15 | €34,446 | €43,144 | +€8,698 | +25.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €33,446 | €42,144 | +€8,698 | +26.0% |
| Distributable reserves | 133 | €33,446 | €42,144 | +€8,698 | +26.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,521 | €92,227 | +€52,706 | +133.4% |
| Amounts payable after more than one year | 17 | €9,894 | €2,957 | -€6,937 | -70.1% |
| Financial debts | 170/4 | €9,894 | €2,957 | -€6,937 | -70.1% |
| Amounts payable within one year | 42/48 | €29,414 | €89,270 | +€59,856 | +203.5% |
| Current portion of amounts payable after more than one year | 42 | €6,718 | €6,937 | +€219 | +3.3% |
| Trade debts | 44 | €7,072 | €42,939 | +€35,867 | +507.2% |
| Suppliers | 440/4 | €7,072 | €42,939 | +€35,867 | +507.2% |
| Taxes, remuneration and social security | 45 | €4,580 | €9,883 | +€5,304 | +115.8% |
| Taxes | 450/3 | €4,580 | €7,683 | +€3,104 | +67.8% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €11,044 | €29,511 | +€18,467 | +167.2% |
| Accrued charges and deferred income | 492/3 | €214 | €0 | -€214 | -100.0% |
| Non-recurring operating income | 76A | €2,260 | €515 | -€1,745 | -77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,732 | €9,550 | -€182 | -1.9% |
| Other operating charges | 640/8 | €2,435 | €2,671 | +€236 | +9.7% |
| Gross operating margin | 9900 | €14,748 | €55,526 | +€40,778 | +276.5% |
| Operating profit (loss) | 9901 | €2,582 | €43,306 | +€40,724 | +1577.4% |
| Financial income | 75/76B | €59 | €192 | +€133 | +227.4% |
| Recurring financial income | 75 | €59 | €192 | +€133 | +227.4% |
| Financial charges | 65/66B | €2,172 | €2,413 | +€241 | +11.1% |
| Recurring financial charges | 65 | €2,172 | €2,413 | +€241 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €468 | €41,085 | +€40,617 | +8673.0% |
| Income taxes | 67/77 | €237 | €8,387 | +€8,150 | +3435.8% |
| Profit (loss) for the period | 9904 | €231 | €32,698 | +€32,467 | +14048.3% |
| Profit (loss) for the period to be appropriated | 9905 | €231 | €32,698 | +€32,467 | +14048.3% |
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 8 October 2026 via checked.be.