MQS: 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.
MQS
Largest movements
- Cash -€51,305
down €51,305 (-50.7%), from €101,099 to €49,794
mainly Other debts (-€61,000) and Contributions, distributions and other (-€47,235)
- Receivables within one year +€4,750
up €4,750 (+31.1%), from €15,263 to €20,013
of which Trade receivables: +€4,338
- Tangible fixed assets -€2,268
down €2,268 (-19.5%), from €11,605 to €9,336
of which Furniture and vehicles: -€1,951
- Other debts -€61,000
no longer reported in 2025 (was €61,000)
- Profit (loss) carried forward +€28,067
up €28,067 (+35.5%), from €79,018 to €107,085
- Tax, wage and social debts -€15,801
down €15,801 (-31.9%), from €49,458 to €33,657
of which Taxes: -€13,455
- Gross operating margin +€4,837
up €4,837 (+5.2%), from €92,749 to €97,586
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 | €191,058 | €142,897 | -€48,161 | -25.2% |
| Fixed assets | 21/28 | €11,605 | €9,336 | -€2,268 | -19.5% |
| Tangible fixed assets | 22/27 | €11,605 | €9,336 | -€2,268 | -19.5% |
| Land and buildings | 22 | €2,774 | €2,457 | -€317 | -11.4% |
| Furniture and vehicles | 24 | €8,830 | €6,880 | -€1,951 | -22.1% |
| Current assets | 29/58 | €179,454 | €133,560 | -€45,893 | -25.6% |
| Amounts receivable after more than one year | 29 | €55,000 | €55,000 | = | 0.0% |
| Trade receivables | 290 | €55,000 | €55,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,263 | €20,013 | +€4,750 | +31.1% |
| Trade receivables | 40 | €15,205 | €19,544 | +€4,338 | +28.5% |
| Other amounts receivable | 41 | €58 | €469 | +€411 | +713.1% |
| Cash at bank and in hand | 54/58 | €101,099 | €49,794 | -€51,305 | -50.7% |
| Deferred charges and accrued income | 490/1 | €8,092 | €8,753 | +€662 | +8.2% |
| Total equity and liabilities | 10/49 | €191,058 | €142,897 | -€48,161 | -25.2% |
| Equity | 10/15 | €80,518 | €108,585 | +€28,067 | +34.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,018 | €107,085 | +€28,067 | +35.5% |
| Amounts payable | 17/49 | €110,540 | €34,312 | -€76,228 | -69.0% |
| Amounts payable within one year | 42/48 | €110,540 | €34,312 | -€76,228 | -69.0% |
| Trade debts | 44 | €82 | €654 | +€573 | +701.5% |
| Suppliers | 440/4 | €82 | €654 | +€573 | +701.5% |
| Taxes, remuneration and social security | 45 | €49,458 | €33,657 | -€15,801 | -31.9% |
| Taxes | 450/3 | €46,958 | €33,503 | -€13,455 | -28.7% |
| Remuneration and social security | 454/9 | €2,500 | €154 | -€2,346 | -93.8% |
| Other amounts payable | 47/48 | €61,000 | - | -€61,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,021 | €3,630 | +€609 | +20.2% |
| Other operating charges | 640/8 | €838 | €420 | -€419 | -49.9% |
| Gross operating margin | 9900 | €92,749 | €97,586 | +€4,837 | +5.2% |
| Operating profit (loss) | 9901 | €88,890 | €93,536 | +€4,646 | +5.2% |
| Financial income | 75/76B | €1,540 | €1,925 | +€385 | +25.0% |
| Recurring financial income | 75 | €1,540 | €1,925 | +€385 | +25.0% |
| Financial charges | 65/66B | €339 | €571 | +€231 | +68.2% |
| Recurring financial charges | 65 | €339 | €571 | +€231 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | €90,091 | €94,891 | +€4,800 | +5.3% |
| Income taxes | 67/77 | €18,630 | €19,589 | +€959 | +5.1% |
| Profit (loss) for the period | 9904 | €71,461 | €75,302 | +€3,841 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,461 | €75,302 | +€3,841 | +5.4% |
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 10 October 2026 via checked.be.