HQT Concepts: 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.
HQT Concepts
Largest movements
- Receivables within one year -€20,249
down €20,249 (-94.1%), from €21,524 to €1,275
of which Trade receivables: -€17,442
- Cash -€2,868
down €2,868 (-32.3%), from €8,883 to €6,016
mainly Net result for the year (-€13,477) and Advances received (-€8,050)
- Tangible fixed assets -€369
down €369 (-29.8%), from €1,239 to €870
- Reserves -€10,149
no longer reported in 2025 (was €10,149)
- Advances received -€8,050
no longer reported in 2025 (was €8,050)
- Other debts -€3,668
down €3,668 (-78.6%), from €4,668 to €999
- Profit (loss) carried forward -€3,328
new in 2025: -€3,328
- Trade debts +€3,319
up €3,319 (+265%), from €1,254 to €4,573
- Staff costs +€66,220
up €66,220 (+844%), from €7,844 to €74,064
- Gross operating margin +€49,170
up €49,170 (+373%), from €13,182 to €62,352
- Taxes -€1,457
down €1,457 (-98.5%), from €1,479 to €23
- Financial charges +€1,113
up €1,113 (+379%), from €294 to €1,407
of which Non-recurring financial charges: +€1,191
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 | €32,259 | €8,818 | -€23,441 | -72.7% |
| Fixed assets | 21/28 | €1,658 | €1,289 | -€369 | -22.3% |
| Tangible fixed assets | 22/27 | €1,239 | €870 | -€369 | -29.8% |
| Plant, machinery and equipment | 23 | €1,239 | €870 | -€369 | -29.8% |
| Financial fixed assets | 28 | €419 | €419 | = | 0.0% |
| Current assets | 29/58 | €30,601 | €7,529 | -€23,072 | -75.4% |
| Amounts receivable within one year | 40/41 | €21,524 | €1,275 | -€20,249 | -94.1% |
| Trade receivables | 40 | €17,442 | - | -€17,442 | |
| Other amounts receivable | 41 | €4,082 | €1,275 | -€2,807 | -68.8% |
| Cash at bank and in hand | 54/58 | €8,883 | €6,016 | -€2,868 | -32.3% |
| Deferred charges and accrued income | 490/1 | €194 | €239 | +€45 | +23.3% |
| Total equity and liabilities | 10/49 | €32,259 | €8,818 | -€23,441 | -72.7% |
| Equity | 10/15 | €13,149 | -€328 | -€13,477 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,149 | - | -€10,149 | |
| Distributable reserves | 133 | €10,149 | - | -€10,149 | |
| Profit (loss) carried forward | 14 | - | -€3,328 | -€3,328 | |
| Amounts payable | 17/49 | €19,110 | €9,146 | -€9,964 | -52.1% |
| Amounts payable within one year | 42/48 | €19,110 | €8,646 | -€10,464 | -54.8% |
| Trade debts | 44 | €1,254 | €4,573 | +€3,319 | +265% |
| Suppliers | 440/4 | €1,254 | €4,573 | +€3,319 | +265% |
| Advances received on contracts in progress | 46 | €8,050 | - | -€8,050 | |
| Taxes, remuneration and social security | 45 | €5,138 | €3,074 | -€2,064 | -40.2% |
| Taxes | 450/3 | €3,591 | €1,769 | -€1,822 | -50.7% |
| Remuneration and social security | 454/9 | €1,547 | €1,305 | -€243 | -15.7% |
| Other amounts payable | 47/48 | €4,668 | €999 | -€3,668 | -78.6% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €7,844 | €74,064 | +€66,220 | +844% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237 | €369 | +€132 | +55.7% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €13,182 | €62,352 | +€49,170 | +373% |
| Operating profit (loss) | 9901 | €4,714 | -€12,081 | -€16,796 | |
| Financial income | 75/76B | €34 | €34 | +€0 | +0.2% |
| Recurring financial income | 75 | €34 | €34 | +€0 | +0.2% |
| Financial charges | 65/66B | €294 | €1,407 | +€1,113 | +379% |
| Recurring financial charges | 65 | €294 | €216 | -€78 | -26.6% |
| Non-recurring financial charges | 66B | - | €1,191 | +€1,191 | |
| Profit (loss) for the period before taxes | 9903 | €4,454 | -€13,454 | -€17,909 | |
| Income taxes | 67/77 | €1,479 | €23 | -€1,457 | -98.5% |
| Profit (loss) for the period | 9904 | €2,975 | -€13,477 | -€16,452 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,975 | -€13,477 | -€16,452 |
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 26 October 2026 via checked.be.