F.Q.M.D.: 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.
F.Q.M.D.
Largest movements
- Cash +€73,037
up €73,037 (+67.8%), from €107,732 to €180,769
mainly Net result for the year (+€40,888) and Trade debts (+€20,377)
- Reserves +€40,888
up €40,888 (+61.0%), from €67,059 to €107,947
- Trade debts +€20,377
up €20,377 (+48.0%), from €42,452 to €62,829
- Tax, wage and social debts +€13,208
up €13,208 (+55.3%), from €23,902 to €37,111
- Gross operating margin -€17,985
down €17,985 (-24.5%), from €73,443 to €55,459
- Taxes -€1,977
down €1,977 (-13.1%), from €15,100 to €13,123
- Depreciation -€1,712
down €1,712 (-85.6%), from €2,000 to €289
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 | €138,830 | €211,887 | +€73,056 | +52.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | - | €947 | +€947 | |
| Tangible fixed assets | 22/27 | - | €947 | +€947 | |
| Furniture and vehicles | 24 | - | €947 | +€947 | |
| Current assets | 29/58 | €138,830 | €210,940 | +€72,109 | +51.9% |
| Amounts receivable within one year | 40/41 | €30,806 | €28,724 | -€2,082 | -6.8% |
| Trade receivables | 40 | €25,000 | €19,907 | -€5,093 | -20.4% |
| Other amounts receivable | 41 | €5,806 | €8,818 | +€3,012 | +51.9% |
| Cash at bank and in hand | 54/58 | €107,732 | €180,769 | +€73,037 | +67.8% |
| Deferred charges and accrued income | 490/1 | €292 | €1,446 | +€1,154 | +394% |
| Total equity and liabilities | 10/49 | €138,830 | €211,887 | +€73,056 | +52.6% |
| Equity | 10/15 | €71,059 | €111,947 | +€40,888 | +57.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €67,059 | €107,947 | +€40,888 | +61.0% |
| Distributable reserves | 133 | €67,059 | €107,947 | +€40,888 | +61.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,771 | €99,940 | +€32,169 | +47.5% |
| Amounts payable within one year | 42/48 | €67,214 | €99,940 | +€32,726 | +48.7% |
| Trade debts | 44 | €42,452 | €62,829 | +€20,377 | +48.0% |
| Suppliers | 440/4 | €42,452 | €62,829 | +€20,377 | +48.0% |
| Taxes, remuneration and social security | 45 | €23,902 | €37,111 | +€13,208 | +55.3% |
| Taxes | 450/3 | €23,902 | €37,111 | +€13,208 | +55.3% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100% |
| Accrued charges and deferred income | 492/3 | €558 | €0 | -€558 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,000 | €289 | -€1,712 | -85.6% |
| Other operating charges | 640/8 | €1,616 | €1,102 | -€514 | -31.8% |
| Gross operating margin | 9900 | €73,443 | €55,459 | -€17,985 | -24.5% |
| Operating profit (loss) | 9901 | €69,827 | €54,068 | -€15,759 | -22.6% |
| Financial income | 75/76B | €293 | €568 | +€276 | +94.2% |
| Recurring financial income | 75 | €293 | €568 | +€276 | +94.2% |
| Financial charges | 65/66B | €991 | €626 | -€366 | -36.9% |
| Recurring financial charges | 65 | €991 | €626 | -€366 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €69,128 | €54,011 | -€15,117 | -21.9% |
| Income taxes | 67/77 | €15,100 | €13,123 | -€1,977 | -13.1% |
| Profit (loss) for the period | 9904 | €54,028 | €40,888 | -€13,140 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,028 | €40,888 | -€13,140 | -24.3% |
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 31 October 2026 via checked.be.