LQ Projects: what changed
Two fiscal 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.
LQ Projects
Largest movements
- Tangible fixed assets -€117,407
down €117,407 (-3.4%), from €3.5m to €3.4m
of which Land and buildings: -€167,689
- Receivables within one year -€51,224
down €51,224 (-93.7%), from €54,664 to €3,440
of which Trade receivables: -€41,224
- Cash +€36,008
up €36,008 (+785.3%), from €4,585 to €40,593
mainly Depreciation (+€221,413) and Receivables within one year (+€51,224)
- Debts after one year -€164,931
down €164,931 (-5.0%), from €3.3m to €3.1m
of which Financial debts: -€264,931
- Gross operating margin +€13,423
up €13,423 (+4.0%), from €339,378 to €352,801
- Depreciation +€4,489
up €4,489 (+2.1%), from €216,925 to €221,413
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 | €3,552,252 | €3,424,597 | -€127,655 | -3.6% |
| Fixed assets | 21/28 | €3,493,003 | €3,375,596 | -€117,407 | -3.4% |
| Tangible fixed assets | 22/27 | €3,493,003 | €3,375,596 | -€117,407 | -3.4% |
| Land and buildings | 22 | €3,408,307 | €3,240,618 | -€167,689 | -4.9% |
| Plant, machinery and equipment | 23 | €4,029 | €52,384 | +€48,355 | +1200.2% |
| Other tangible fixed assets | 26 | €80,667 | €82,595 | +€1,927 | +2.4% |
| Current assets | 29/58 | €59,249 | €49,001 | -€10,248 | -17.3% |
| Amounts receivable within one year | 40/41 | €54,664 | €3,440 | -€51,224 | -93.7% |
| Trade receivables | 40 | €44,664 | €3,440 | -€41,224 | -92.3% |
| Other amounts receivable | 41 | €10,000 | €0 | -€10,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €4,585 | €40,593 | +€36,008 | +785.3% |
| Deferred charges and accrued income | 490/1 | - | €4,968 | +€4,968 | |
| Total equity and liabilities | 10/49 | €3,552,252 | €3,424,597 | -€127,655 | -3.6% |
| Equity | 10/15 | -€41,954 | -€17,304 | +€24,650 | +58.8% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,954 | -€87,304 | +€24,650 | +22.0% |
| Amounts payable | 17/49 | €3,594,206 | €3,441,901 | -€152,305 | -4.2% |
| Amounts payable after more than one year | 17 | €3,270,425 | €3,105,495 | -€164,931 | -5.0% |
| Financial debts | 170/4 | €2,320,425 | €2,055,495 | -€264,931 | -11.4% |
| Other amounts payable | 178/9 | €950,000 | €1,050,000 | +€100,000 | +10.5% |
| Amounts payable within one year | 42/48 | €289,053 | €309,061 | +€20,007 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €260,723 | €264,931 | +€4,207 | +1.6% |
| Trade debts | 44 | €18,468 | €29,842 | +€11,374 | +61.6% |
| Suppliers | 440/4 | €18,468 | €29,842 | +€11,374 | +61.6% |
| Taxes, remuneration and social security | 45 | €7,696 | €12,521 | +€4,825 | +62.7% |
| Taxes | 450/3 | €7,696 | €12,521 | +€4,825 | +62.7% |
| Other amounts payable | 47/48 | €2,166 | €1,767 | -€399 | -18.4% |
| Accrued charges and deferred income | 492/3 | €34,727 | €27,346 | -€7,382 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,925 | €221,413 | +€4,489 | +2.1% |
| Other operating charges | 640/8 | €64,111 | €66,120 | +€2,010 | +3.1% |
| Gross operating margin | 9900 | €339,378 | €352,801 | +€13,423 | +4.0% |
| Operating profit (loss) | 9901 | €58,343 | €65,267 | +€6,925 | +11.9% |
| Financial income | 75/76B | €378 | €399 | +€21 | +5.6% |
| Recurring financial income | 75 | €378 | €0 | -€378 | -100.0% |
| Non-recurring financial income | 76B | - | €399 | +€399 | |
| Financial charges | 65/66B | €44,068 | €41,016 | -€3,052 | -6.9% |
| Recurring financial charges | 65 | €44,068 | €41,016 | -€3,052 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €14,652 | €24,650 | +€9,998 | +68.2% |
| Profit (loss) for the period | 9904 | €14,652 | €24,650 | +€9,998 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,652 | €24,650 | +€9,998 | +68.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.