KWALIBETON: 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.
KWALIBETON
Largest movements
- Receivables within one year +€726,473
up €726,473 (+71.2%), from €1.0m to €1.7m
of which Other amounts receivable: +€631,353
- Stocks and contracts -€575,000
down €575,000 (-100%), from €575,000 to €0
- Cash +€346,760
up €346,760 (+4,000%), from €8,669 to €355,429
mainly Short-term financial debts (+€650,000) and Stocks and contracts (+€575,000)
- Short-term financial debts +€650,000
up €650,000, from €0 to €650,000
- Other debts -€265,632
down €265,632 (-23.9%), from €1.1m to €844,813
- Reserves +€137,942
up €137,942 (+10.6%), from €1.3m to €1.4m
of which Distributable reserves: +€137,942
- Gross operating margin +€41,932
up €41,932 (+28.3%), from €148,256 to €190,188
- Other operating charges -€31,921
down €31,921 (-57.0%), from €56,014 to €24,093
- Financial charges -€28,075
down €28,075 (-65.1%), from €43,146 to €15,071
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 | €2,507,967 | €3,016,551 | +€508,584 | +20.3% |
| Fixed assets | 21/28 | €903,210 | €911,208 | +€7,999 | +0.9% |
| Tangible fixed assets | 22/27 | €902,416 | €910,414 | +€7,999 | +0.9% |
| Land and buildings | 22 | €789,878 | €807,646 | +€17,768 | +2.2% |
| Plant, machinery and equipment | 23 | €3,160 | €1,788 | -€1,371 | -43.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €109,378 | €100,980 | -€8,398 | -7.7% |
| Financial fixed assets | 28 | €794 | €794 | = | 0.0% |
| Current assets | 29/58 | €1,604,758 | €2,105,343 | +€500,585 | +31.2% |
| Stocks and contracts in progress | 3 | €575,000 | €0 | -€575,000 | -100% |
| Stocks | 30/36 | €575,000 | €0 | -€575,000 | -100% |
| Amounts receivable within one year | 40/41 | €1,020,578 | €1,747,052 | +€726,473 | +71.2% |
| Trade receivables | 40 | €25,815 | €120,935 | +€95,120 | +368% |
| Other amounts receivable | 41 | €994,763 | €1,626,117 | +€631,353 | +63.5% |
| Cash at bank and in hand | 54/58 | €8,669 | €355,429 | +€346,760 | +4,000% |
| Deferred charges and accrued income | 490/1 | €510 | €2,862 | +€2,352 | +461% |
| Total equity and liabilities | 10/49 | €2,507,967 | €3,016,551 | +€508,584 | +20.3% |
| Equity | 10/15 | €1,364,338 | €1,502,280 | +€137,942 | +10.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,302,338 | €1,440,280 | +€137,942 | +10.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €1,239,888 | €1,377,830 | +€137,942 | +11.1% |
| Amounts payable | 17/49 | €1,143,629 | €1,514,271 | +€370,642 | +32.4% |
| Amounts payable after more than one year | 17 | €10,875 | €10,875 | = | 0.0% |
| Other amounts payable | 178/9 | €10,875 | €10,875 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,128,160 | €1,500,460 | +€372,300 | +33.0% |
| Financial debts | 43 | €0 | €650,000 | +€650,000 | |
| Credit institutions | 430/8 | €0 | €650,000 | +€650,000 | |
| Trade debts | 44 | €15,491 | €2,574 | -€12,917 | -83.4% |
| Suppliers | 440/4 | €15,491 | €2,574 | -€12,917 | -83.4% |
| Taxes, remuneration and social security | 45 | €2,223 | €3,072 | +€849 | +38.2% |
| Taxes | 450/3 | €2,223 | €3,072 | +€849 | +38.2% |
| Other amounts payable | 47/48 | €1,110,445 | €844,813 | -€265,632 | -23.9% |
| Accrued charges and deferred income | 492/3 | €4,594 | €2,936 | -€1,658 | -36.1% |
| Non-recurring operating income | 76A | - | €50,801 | +€50,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,866 | €42,802 | +€936 | +2.2% |
| Other operating charges | 640/8 | €56,014 | €24,093 | -€31,921 | -57.0% |
| Gross operating margin | 9900 | €148,256 | €190,188 | +€41,932 | +28.3% |
| Operating profit (loss) | 9901 | €50,377 | €123,293 | +€72,916 | +145% |
| Financial income | 75/76B | €31,138 | €30,091 | -€1,047 | -3.4% |
| Recurring financial income | 75 | €31,138 | €30,091 | -€1,047 | -3.4% |
| Financial charges | 65/66B | €43,146 | €15,071 | -€28,075 | -65.1% |
| Recurring financial charges | 65 | €43,146 | €15,071 | -€28,075 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €38,369 | €138,313 | +€99,944 | +260% |
| Income taxes | 67/77 | €359 | €371 | +€11 | +3.1% |
| Profit (loss) for the period | 9904 | €38,009 | €137,942 | +€99,933 | +263% |
| Profit (loss) for the period to be appropriated | 9905 | €38,009 | €137,942 | +€99,933 | +263% |
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 14 October 2026 via checked.be.