Just Q: what changed
Just Q
Largest movements
- Tangible fixed assets +€182,100
up €182,100 (+79.2%), from €229,920 to €412,020
of which Land and buildings: +€184,665
- Cash -€40,656
down €40,656 (-33.9%), from €120,018 to €79,362
mainly Investment in fixed assets (net) (-€199,714) and Tax, wage and social debts (-€17,998)
- Debts after one year +€77,409
up €77,409 (+56.1%), from €138,011 to €215,420
- Profit (loss) carried forward +€70,319
up €70,319 (+47.7%), from €147,390 to €217,709
- Tax, wage and social debts -€17,998
down €17,998 (-59.5%), from €30,250 to €12,252
of which Taxes: -€13,274
- Current portion of long-term debt +€6,729
up €6,729 (+53.9%), from €12,481 to €19,210
- Gross operating margin +€32,406
up €32,406 (+37.1%), from €87,273 to €119,679
- Depreciation +€5,541
up €5,541 (+45.9%), from €12,073 to €17,614
- Taxes +€5,054
up €5,054 (+33.1%), from €15,246 to €20,300
- Financial charges +€2,550
up €2,550 (+56.1%), from €4,547 to €7,097
- Financial income -€1,391
down €1,391 (-81.9%), from €1,698 to €307
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,890 | €519,908 | +€139,018 | +36.5% |
| Fixed assets | 21/28 | €230,283 | €412,383 | +€182,100 | +79.1% |
| Tangible fixed assets | 22/27 | €229,920 | €412,020 | +€182,100 | +79.2% |
| Land and buildings | 22 | €214,067 | €398,732 | +€184,665 | +86.3% |
| Plant, machinery and equipment | 23 | €9,634 | €9,565 | -€69 | -0.7% |
| Furniture and vehicles | 24 | €6,219 | €3,723 | -€2,496 | -40.1% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €150,607 | €107,525 | -€43,082 | -28.6% |
| Amounts receivable within one year | 40/41 | €27,951 | €23,973 | -€3,978 | -14.2% |
| Trade receivables | 40 | €27,951 | €23,973 | -€3,978 | -14.2% |
| Cash at bank and in hand | 54/58 | €120,018 | €79,362 | -€40,656 | -33.9% |
| Deferred charges and accrued income | 490/1 | €2,638 | €4,190 | +€1,552 | +58.8% |
| Total equity and liabilities | 10/49 | €380,890 | €519,908 | +€139,018 | +36.5% |
| Equity | 10/15 | €195,450 | €265,769 | +€70,319 | +36.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €41,860 | €41,860 | = | 0.0% |
| Distributable reserves | 133 | €41,860 | €41,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,390 | €217,709 | +€70,319 | +47.7% |
| Amounts payable | 17/49 | €185,440 | €254,139 | +€68,699 | +37.0% |
| Amounts payable after more than one year | 17 | €138,011 | €215,420 | +€77,409 | +56.1% |
| Financial debts | 170/4 | €138,011 | €215,420 | +€77,409 | +56.1% |
| Amounts payable within one year | 42/48 | €47,429 | €38,719 | -€8,710 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €12,481 | €19,210 | +€6,729 | +53.9% |
| Trade debts | 44 | €4,231 | €6,707 | +€2,476 | +58.5% |
| Suppliers | 440/4 | €4,231 | €6,707 | +€2,476 | +58.5% |
| Taxes, remuneration and social security | 45 | €30,250 | €12,252 | -€17,998 | -59.5% |
| Taxes | 450/3 | €25,526 | €12,252 | -€13,274 | -52.0% |
| Remuneration and social security | 454/9 | €4,724 | - | -€4,724 | |
| Other amounts payable | 47/48 | €467 | €550 | +€83 | +17.8% |
| Remuneration, social security and pensions | 62 | €2,149 | €2,112 | -€37 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,073 | €17,614 | +€5,541 | +45.9% |
| Other operating charges | 640/8 | €2,905 | €2,544 | -€361 | -12.4% |
| Gross operating margin | 9900 | €87,273 | €119,679 | +€32,406 | +37.1% |
| Operating profit (loss) | 9901 | €70,146 | €97,409 | +€27,263 | +38.9% |
| Financial income | 75/76B | €1,698 | €307 | -€1,391 | -81.9% |
| Recurring financial income | 75 | €1,698 | €307 | -€1,391 | -81.9% |
| Financial charges | 65/66B | €4,547 | €7,097 | +€2,550 | +56.1% |
| Recurring financial charges | 65 | €4,547 | €7,097 | +€2,550 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €67,297 | €90,619 | +€23,322 | +34.7% |
| Income taxes | 67/77 | €15,246 | €20,300 | +€5,054 | +33.1% |
| Profit (loss) for the period | 9904 | €52,051 | €70,319 | +€18,268 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,051 | €70,319 | +€18,268 | +35.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.