PQ-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.
PQ-CONSULT
Largest movements
- Receivables within one year -€18,078
down €18,078 (-40.9%), from €44,227 to €26,149
of which Trade receivables: -€26,323
- Cash +€6,156
up €6,156 (+4.2%), from €146,631 to €152,787
mainly Net result for the year (+€24,548) and Receivables within one year (+€18,078)
- Other debts -€26,000
down €26,000 (-100%), from €26,000 to €0
- Reserves +€24,548
up €24,548 (+17.5%), from €140,510 to €165,058
of which Distributable reserves: +€27,230
- Tax, wage and social debts -€17,762
down €17,762 (-100%), from €17,762 to €0
of which Taxes: -€14,912
- Trade debts +€5,306
up €5,306 (+67.1%), from €7,904 to €13,210
- Gross operating margin -€70,152
down €70,152 (-64.4%), from €108,896 to €38,744
- Staff costs -€34,676
down €34,676 (-100%), from €34,676 to €0
- Taxes -€5,934
down €5,934 (-30.4%), from €19,548 to €13,614
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 | €198,376 | €184,468 | -€13,909 | -7.0% |
| Fixed assets | 21/28 | €4,867 | €4,430 | -€437 | -9.0% |
| Intangible fixed assets | 21 | €2,505 | €1,821 | -€684 | -27.3% |
| Tangible fixed assets | 22/27 | €2,362 | €2,609 | +€247 | +10.5% |
| Plant, machinery and equipment | 23 | €2,018 | €1,502 | -€516 | -25.6% |
| Furniture and vehicles | 24 | €344 | €1,108 | +€763 | +222% |
| Current assets | 29/58 | €193,509 | €180,038 | -€13,472 | -7.0% |
| Amounts receivable within one year | 40/41 | €44,227 | €26,149 | -€18,078 | -40.9% |
| Trade receivables | 40 | €32,688 | €6,365 | -€26,323 | -80.5% |
| Other amounts receivable | 41 | €11,539 | €19,784 | +€8,245 | +71.5% |
| Cash at bank and in hand | 54/58 | €146,631 | €152,787 | +€6,156 | +4.2% |
| Deferred charges and accrued income | 490/1 | €2,651 | €1,102 | -€1,550 | -58.5% |
| Total equity and liabilities | 10/49 | €198,376 | €184,468 | -€13,909 | -7.0% |
| Equity | 10/15 | €146,710 | €171,258 | +€24,548 | +16.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €140,510 | €165,058 | +€24,548 | +17.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,682 | €0 | -€2,682 | -100% |
| Distributable reserves | 133 | €137,828 | €165,058 | +€27,230 | +19.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,666 | €13,210 | -€38,456 | -74.4% |
| Amounts payable within one year | 42/48 | €51,666 | €13,210 | -€38,456 | -74.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,904 | €13,210 | +€5,306 | +67.1% |
| Suppliers | 440/4 | €7,904 | €13,210 | +€5,306 | +67.1% |
| Taxes, remuneration and social security | 45 | €17,762 | €0 | -€17,762 | -100% |
| Taxes | 450/3 | €14,912 | €0 | -€14,912 | -100% |
| Remuneration and social security | 454/9 | €2,850 | €0 | -€2,850 | -100% |
| Other amounts payable | 47/48 | €26,000 | €0 | -€26,000 | -100% |
| Non-recurring operating income | 76A | - | €10,407 | +€10,407 | |
| Remuneration, social security and pensions | 62 | €34,676 | €0 | -€34,676 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,787 | €1,552 | -€235 | -13.2% |
| Other operating charges | 640/8 | €677 | €667 | -€10 | -1.5% |
| Non-recurring operating charges | 66A | €3,731 | €0 | -€3,731 | -100% |
| Gross operating margin | 9900 | €108,896 | €38,744 | -€70,152 | -64.4% |
| Operating profit (loss) | 9901 | €68,025 | €36,525 | -€31,500 | -46.3% |
| Financial income | 75/76B | €1,011 | €1,774 | +€764 | +75.5% |
| Recurring financial income | 75 | €1,011 | €1,774 | +€764 | +75.5% |
| Financial charges | 65/66B | €335 | €138 | -€198 | -59.0% |
| Recurring financial charges | 65 | €335 | €138 | -€198 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €68,700 | €38,162 | -€30,538 | -44.5% |
| Income taxes | 67/77 | €19,548 | €13,614 | -€5,934 | -30.4% |
| Profit (loss) for the period | 9904 | €49,152 | €24,548 | -€24,604 | -50.1% |
| Transfer from tax-exempt reserves | 789 | - | €2,682 | +€2,682 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,152 | €27,230 | -€21,922 | -44.6% |
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 16 October 2026 via checked.be.