Q-Alpha: 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-Alpha
Largest movements
- Cash +€146,563
up €146,563 (+82.9%), from €176,705 to €323,267
mainly Net result for the year (+€178,909) and Depreciation (+€25,338)
- Receivables within one year +€77,976
up €77,976 (+382%), from €20,404 to €98,380
of which Other amounts receivable: +€55,000
- Tangible fixed assets -€25,338
down €25,338 (-47.7%), from €53,094 to €27,756
of which Furniture and vehicles: -€24,271
- Reserves +€178,909
up €178,909 (+102%), from €175,721 to €354,630
- Tax, wage and social debts +€21,835
up €21,835 (+31.3%), from €69,789 to €91,624
- Gross operating margin +€132,217
up €132,217 (+104%), from €126,852 to €259,070
- Taxes +€32,056
up €32,056 (+145%), from €22,038 to €54,094
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 | €253,946 | €451,704 | +€197,757 | +77.9% |
| Fixed assets | 21/28 | €53,094 | €27,756 | -€25,338 | -47.7% |
| Tangible fixed assets | 22/27 | €53,094 | €27,756 | -€25,338 | -47.7% |
| Plant, machinery and equipment | 23 | €2,557 | €1,490 | -€1,067 | -41.7% |
| Furniture and vehicles | 24 | €50,537 | €26,266 | -€24,271 | -48.0% |
| Current assets | 29/58 | €200,852 | €423,948 | +€223,096 | +111% |
| Amounts receivable within one year | 40/41 | €20,404 | €98,380 | +€77,976 | +382% |
| Trade receivables | 40 | €20,404 | €43,380 | +€22,976 | +113% |
| Other amounts receivable | 41 | €0 | €55,000 | +€55,000 | |
| Cash at bank and in hand | 54/58 | €176,705 | €323,267 | +€146,563 | +82.9% |
| Deferred charges and accrued income | 490/1 | €3,744 | €2,301 | -€1,443 | -38.5% |
| Total equity and liabilities | 10/49 | €253,946 | €451,704 | +€197,757 | +77.9% |
| Equity | 10/15 | €179,721 | €358,630 | +€178,909 | +99.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €175,721 | €354,630 | +€178,909 | +102% |
| Distributable reserves | 133 | €175,721 | €354,630 | +€178,909 | +102% |
| Amounts payable | 17/49 | €74,226 | €93,074 | +€18,849 | +25.4% |
| Amounts payable within one year | 42/48 | €74,192 | €93,074 | +€18,882 | +25.5% |
| Trade debts | 44 | €4,381 | €1,450 | -€2,931 | -66.9% |
| Suppliers | 440/4 | €4,381 | €1,450 | -€2,931 | -66.9% |
| Taxes, remuneration and social security | 45 | €69,789 | €91,624 | +€21,835 | +31.3% |
| Taxes | 450/3 | €69,789 | €91,624 | +€21,835 | +31.3% |
| Other amounts payable | 47/48 | €22 | €0 | -€22 | -100% |
| Accrued charges and deferred income | 492/3 | €34 | €0 | -€34 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,920 | €25,338 | +€2,418 | +10.5% |
| Other operating charges | 640/8 | €513 | €673 | +€160 | +31.2% |
| Gross operating margin | 9900 | €126,852 | €259,070 | +€132,217 | +104% |
| Operating profit (loss) | 9901 | €103,419 | €233,058 | +€129,639 | +125% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €54 | €55 | +€1 | +2.5% |
| Recurring financial charges | 65 | €54 | €55 | +€1 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €103,365 | €233,003 | +€129,638 | +125% |
| Income taxes | 67/77 | €22,038 | €54,094 | +€32,056 | +145% |
| Profit (loss) for the period | 9904 | €81,327 | €178,909 | +€97,582 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €81,327 | €178,909 | +€97,582 | +120% |
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 24 October 2026 via checked.be.