High Q: 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.
High Q
Largest movements
- Cash +€10,796
up €10,796 (+42.4%), from €25,489 to €36,285
mainly Net result for the year (+€20,079) and Receivables within one year (+€565)
- Profit (loss) carried forward +€20,079
up €20,079 (+12.7%), from -€157,565 to -€137,486
- Other debts -€8,054
down €8,054 (-4.1%), from €195,882 to €187,828
- Financial charges -€17,304
down €17,304 (-84.9%), from €20,382 to €3,078
of which Non-recurring financial charges: -€9,275
- Gross operating margin +€4,726
up €4,726 (+23.8%), from €19,828 to €24,555
- Other operating charges -€1,180
down €1,180 (-51.6%), from €2,288 to €1,108
- Depreciation -€756
down €756 (-68.6%), from €1,102 to €346
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 | €141,730 | €152,858 | +€11,127 | +7.9% |
| Fixed assets | 21/28 | €215 | €1,356 | +€1,140 | +529.6% |
| Tangible fixed assets | 22/27 | €214 | €1,355 | +€1,140 | +532.1% |
| Plant, machinery and equipment | 23 | €214 | €1,355 | +€1,140 | +532.1% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €141,515 | €151,502 | +€9,987 | +7.1% |
| Amounts receivable within one year | 40/41 | €115,767 | €115,202 | -€565 | -0.5% |
| Trade receivables | 40 | €115,767 | €115,076 | -€691 | -0.6% |
| Other amounts receivable | 41 | - | €126 | +€126 | |
| Cash at bank and in hand | 54/58 | €25,489 | €36,285 | +€10,796 | +42.4% |
| Deferred charges and accrued income | 490/1 | €259 | €15 | -€244 | -94.2% |
| Total equity and liabilities | 10/49 | €141,730 | €152,858 | +€11,127 | +7.9% |
| Equity | 10/15 | -€145,065 | -€124,986 | +€20,079 | +13.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€157,565 | -€137,486 | +€20,079 | +12.7% |
| Amounts payable | 17/49 | €286,795 | €277,844 | -€8,951 | -3.1% |
| Amounts payable within one year | 42/48 | €286,795 | €277,844 | -€8,951 | -3.1% |
| Financial debts | 43 | €559 | €0 | -€559 | -100.0% |
| Credit institutions | 430/8 | €559 | €0 | -€559 | -100.0% |
| Trade debts | 44 | €1,380 | €795 | -€585 | -42.4% |
| Suppliers | 440/4 | €1,380 | €795 | -€585 | -42.4% |
| Taxes, remuneration and social security | 45 | €88,974 | €89,220 | +€246 | +0.3% |
| Taxes | 450/3 | €88,974 | €89,220 | +€246 | +0.3% |
| Other amounts payable | 47/48 | €195,882 | €187,828 | -€8,054 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,102 | €346 | -€756 | -68.6% |
| Other operating charges | 640/8 | €2,288 | €1,108 | -€1,180 | -51.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €19,828 | €24,555 | +€4,726 | +23.8% |
| Operating profit (loss) | 9901 | €16,438 | €23,100 | +€6,662 | +40.5% |
| Financial income | 75/76B | €24 | €56 | +€33 | +138.7% |
| Recurring financial income | 75 | €24 | €56 | +€33 | +138.7% |
| Financial charges | 65/66B | €20,382 | €3,078 | -€17,304 | -84.9% |
| Recurring financial charges | 65 | €11,107 | €3,078 | -€8,029 | -72.3% |
| Non-recurring financial charges | 66B | €9,275 | €0 | -€9,275 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,920 | €20,079 | +€23,999 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€3,920 | €20,079 | +€23,999 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,920 | €20,079 | +€23,999 |
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.