MQO CONSULT: 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.
MQO CONSULT
Largest movements
- Cash +€13,619
up €13,619 (+13.5%), from €101,026 to €114,645
mainly Depreciation (+€11,005) and Receivables within one year (+€5,337)
- Tangible fixed assets -€6,629
down €6,629 (-22.4%), from €29,633 to €23,004
of which Furniture and vehicles: -€5,442
- Receivables within one year -€5,337
down €5,337 (-35.3%), from €15,117 to €9,779
of which Trade receivables: -€5,890
- Reserves +€5,133
up €5,133 (+4.3%), from €119,569 to €124,702
of which Distributable reserves: +€5,133
- Trade debts -€2,477
down €2,477 (-73.4%), from €3,375 to €899
- Gross operating margin -€11,924
down €11,924 (-35.3%), from €33,824 to €21,899
- Depreciation -€9,478
down €9,478 (-46.3%), from €20,483 to €11,005
- Taxes -€1,071
down €1,071 (-16.4%), from €6,518 to €5,447
- Financial income +€609
up €609 (+500%), from €122 to €731
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 | €145,777 | €148,225 | +€2,448 | +1.7% |
| Fixed assets | 21/28 | €29,633 | €23,004 | -€6,629 | -22.4% |
| Tangible fixed assets | 22/27 | €29,633 | €23,004 | -€6,629 | -22.4% |
| Plant, machinery and equipment | 23 | €2,252 | €1,064 | -€1,187 | -52.7% |
| Furniture and vehicles | 24 | €27,382 | €21,940 | -€5,442 | -19.9% |
| Current assets | 29/58 | €116,143 | €125,221 | +€9,077 | +7.8% |
| Amounts receivable within one year | 40/41 | €15,117 | €9,779 | -€5,337 | -35.3% |
| Trade receivables | 40 | €15,095 | €9,205 | -€5,890 | -39.0% |
| Other amounts receivable | 41 | €22 | €574 | +€553 | +2,558% |
| Cash at bank and in hand | 54/58 | €101,026 | €114,645 | +€13,619 | +13.5% |
| Deferred charges and accrued income | 490/1 | - | €796 | +€796 | |
| Total equity and liabilities | 10/49 | €145,777 | €148,225 | +€2,448 | +1.7% |
| Equity | 10/15 | €140,536 | €145,668 | +€5,133 | +3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,569 | €124,702 | +€5,133 | +4.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €117,709 | €122,842 | +€5,133 | +4.4% |
| Profit (loss) carried forward | 14 | €14,766 | €14,766 | = | 0.0% |
| Amounts payable | 17/49 | €5,241 | €2,556 | -€2,685 | -51.2% |
| Amounts payable within one year | 42/48 | €4,956 | €2,556 | -€2,400 | -48.4% |
| Trade debts | 44 | €3,375 | €899 | -€2,477 | -73.4% |
| Suppliers | 440/4 | €3,375 | €899 | -€2,477 | -73.4% |
| Taxes, remuneration and social security | 45 | €1,581 | €1,658 | +€77 | +4.9% |
| Taxes | 450/3 | €1,581 | €1,658 | +€77 | +4.9% |
| Accrued charges and deferred income | 492/3 | €285 | €0 | -€285 | -100% |
| Non-recurring operating income | 76A | €0 | €4,375 | +€4,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,483 | €11,005 | -€9,478 | -46.3% |
| Other operating charges | 640/8 | €750 | €790 | +€40 | +5.4% |
| Non-recurring operating charges | 66A | €1,113 | €0 | -€1,113 | -100% |
| Gross operating margin | 9900 | €33,824 | €21,899 | -€11,924 | -35.3% |
| Operating profit (loss) | 9901 | €11,478 | €10,105 | -€1,373 | -12.0% |
| Financial income | 75/76B | €122 | €731 | +€609 | +500% |
| Recurring financial income | 75 | €122 | €731 | +€609 | +500% |
| Financial charges | 65/66B | €45 | €255 | +€211 | +473% |
| Recurring financial charges | 65 | €45 | €255 | +€211 | +473% |
| Profit (loss) for the period before taxes | 9903 | €11,555 | €10,580 | -€975 | -8.4% |
| Income taxes | 67/77 | €6,518 | €5,447 | -€1,071 | -16.4% |
| Profit (loss) for the period | 9904 | €5,037 | €5,133 | +€96 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,037 | €5,133 | +€96 | +1.9% |
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.