Q - Academy: 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.
Q - Academy
Largest movements
- Receivables after one year -€180,000
no longer reported in 2025 (was €180,000)
- Receivables within one year +€65,614
up €65,614 (+17.6%), from €373,450 to €439,064
of which Trade receivables: +€70,077
- Deferred charges and accrued income +€56,073
up €56,073 (+1350.3%), from €4,153 to €60,226
- Tangible fixed assets +€13,232
up €13,232 (+157.9%), from €8,379 to €21,610
- Trade debts -€67,538
down €67,538 (-34.8%), from €193,962 to €126,424
- Reserves +€30,953
up €30,953 (+14.8%), from €209,367 to €240,320
- Tax, wage and social debts -€17,954
down €17,954 (-11.2%), from €160,412 to €142,458
of which Remuneration and social security: -€16,139
- Profit (loss) carried forward +€13,365
no longer reported in 2025 (was -€13,365)
- Short-term financial debts -€7,511
down €7,511 (-68.8%), from €10,910 to €3,399
- Gross operating margin +€108,788
up €108,788 (+23.9%), from €456,106 to €564,894
- Staff costs +€81,450
up €81,450 (+20.1%), from €405,554 to €487,004
- Financial charges -€45,803
down €45,803 (-49.2%), from €93,187 to €47,384
of which Non-recurring financial charges: -€30,000
- Write-downs +€6,271
new in 2025: €6,271
- Taxes +€5,668
up €5,668 (+25.9%), from €21,842 to €27,510
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €569,244 | €524,191 | -€45,053 | -7.9% |
| Fixed assets | 21/28 | €11,642 | €24,901 | +€13,260 | +113.9% |
| Tangible fixed assets | 22/27 | €8,379 | €21,610 | +€13,232 | +157.9% |
| Furniture and vehicles | 24 | €8,379 | €21,610 | +€13,232 | +157.9% |
| Financial fixed assets | 28 | €3,263 | €3,291 | +€28 | +0.9% |
| Current assets | 29/58 | €557,603 | €499,290 | -€58,313 | -10.5% |
| Amounts receivable after more than one year | 29 | €180,000 | - | -€180,000 | |
| Other amounts receivable | 291 | €180,000 | - | -€180,000 | |
| Amounts receivable within one year | 40/41 | €373,450 | €439,064 | +€65,614 | +17.6% |
| Trade receivables | 40 | €356,445 | €426,522 | +€70,077 | +19.7% |
| Other amounts receivable | 41 | €17,005 | €12,542 | -€4,463 | -26.2% |
| Deferred charges and accrued income | 490/1 | €4,153 | €60,226 | +€56,073 | +1350.3% |
| Total equity and liabilities | 10/49 | €569,244 | €524,191 | -€45,053 | -7.9% |
| Equity | 10/15 | €202,302 | €246,620 | +€44,318 | +21.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €209,367 | €240,320 | +€30,953 | +14.8% |
| Distributable reserves | 133 | €209,367 | €240,320 | +€30,953 | +14.8% |
| Profit (loss) carried forward | 14 | -€13,365 | - | +€13,365 | |
| Amounts payable | 17/49 | €366,942 | €277,571 | -€89,371 | -24.4% |
| Amounts payable within one year | 42/48 | €365,284 | €272,281 | -€93,003 | -25.5% |
| Financial debts | 43 | €10,910 | €3,399 | -€7,511 | -68.8% |
| Credit institutions | 430/8 | €10,910 | €3,399 | -€7,511 | -68.8% |
| Trade debts | 44 | €193,962 | €126,424 | -€67,538 | -34.8% |
| Suppliers | 440/4 | €193,962 | €126,424 | -€67,538 | -34.8% |
| Taxes, remuneration and social security | 45 | €160,412 | €142,458 | -€17,954 | -11.2% |
| Taxes | 450/3 | €67,104 | €65,289 | -€1,815 | -2.7% |
| Remuneration and social security | 454/9 | €93,308 | €77,168 | -€16,139 | -17.3% |
| Accrued charges and deferred income | 492/3 | €1,658 | €5,289 | +€3,631 | +219.0% |
| Remuneration, social security and pensions | 62 | €405,554 | €487,004 | +€81,450 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,043 | €4,845 | +€802 | +19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,271 | +€6,271 | |
| Other operating charges | 640/8 | €11,032 | €8,883 | -€2,149 | -19.5% |
| Gross operating margin | 9900 | €456,106 | €564,894 | +€108,788 | +23.9% |
| Operating profit (loss) | 9901 | €35,478 | €57,891 | +€22,413 | +63.2% |
| Financial income | 75/76B | €66,186 | €61,322 | -€4,864 | -7.3% |
| Recurring financial income | 75 | €66,186 | €61,322 | -€4,864 | -7.3% |
| Financial charges | 65/66B | €93,187 | €47,384 | -€45,803 | -49.2% |
| Recurring financial charges | 65 | €63,187 | €47,384 | -€15,803 | -25.0% |
| Non-recurring financial charges | 66B | €30,000 | - | -€30,000 | |
| Profit (loss) for the period before taxes | 9903 | €8,478 | €71,829 | +€63,351 | +747.3% |
| Income taxes | 67/77 | €21,842 | €27,510 | +€5,668 | +25.9% |
| Profit (loss) for the period | 9904 | -€13,365 | €44,318 | +€57,683 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,365 | €44,318 | +€57,683 |
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.