Q-beef: what changed
Two fiscal 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-beef
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-93.4%), from €1.1m to €71,746
of which Other amounts receivable: -€1.1m
- Cash +€311,096
up €311,096 (+1063.4%), from €29,255 to €340,352
mainly Receivables within one year (+€1.0m) and Other debts (+€242,528)
- Stocks and contracts -€22,408
down €22,408 (-100.0%), from €22,408 to €0
- Tangible fixed assets -€14,411
down €14,411 (-28.4%), from €50,715 to €36,304
of which Land and buildings: -€8,720
- Contributions -€675,000
down €675,000 (-90.0%), from €750,000 to €75,000
of which Capital: -€750,000
- Reserves -€321,879
down €321,879 (-80.2%), from €401,352 to €79,474
of which Distributable reserves: -€246,879
- Other debts +€242,528
new in 2025: €242,528
- Tax, wage and social debts +€15,426
up €15,426 (+391.6%), from €3,939 to €19,365
of which Taxes: +€15,535
- Gross operating margin +€68,608
up €68,608 (+101.2%), from €67,775 to €136,383
- Financial charges -€19,442
down €19,442 (-75.6%), from €25,728 to €6,286
- Taxes +€7,947
new in 2025: €7,947
- Financial income -€3,877
down €3,877 (-98.0%), from €3,956 to €79
- Other operating charges -€3,417
down €3,417 (-35.9%), from €9,520 to €6,104
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 | €1,191,020 | €451,379 | -€739,641 | -62.1% |
| Fixed assets | 21/28 | €50,850 | €36,439 | -€14,411 | -28.3% |
| Tangible fixed assets | 22/27 | €50,715 | €36,304 | -€14,411 | -28.4% |
| Land and buildings | 22 | €40,270 | €31,549 | -€8,720 | -21.7% |
| Plant, machinery and equipment | 23 | €9,935 | €4,755 | -€5,181 | -52.1% |
| Furniture and vehicles | 24 | €510 | €0 | -€510 | -100.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €1,140,170 | €414,940 | -€725,230 | -63.6% |
| Stocks and contracts in progress | 3 | €22,408 | €0 | -€22,408 | -100.0% |
| Stocks | 30/36 | €22,408 | €0 | -€22,408 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,084,257 | €71,746 | -€1.0m | -93.4% |
| Trade receivables | 40 | €19,915 | €71,746 | +€51,831 | +260.3% |
| Other amounts receivable | 41 | €1,064,341 | €0 | -€1.1m | -100.0% |
| Cash at bank and in hand | 54/58 | €29,255 | €340,352 | +€311,096 | +1063.4% |
| Deferred charges and accrued income | 490/1 | €4,250 | €2,842 | -€1,408 | -33.1% |
| Total equity and liabilities | 10/49 | €1,191,020 | €451,379 | -€739,641 | -62.1% |
| Equity | 10/15 | €1,151,352 | €154,474 | -€996,879 | -86.6% |
| Contributions | 10/11 | €750,000 | €75,000 | -€675,000 | -90.0% |
| Capital | 10 | €750,000 | €0 | -€750,000 | -100.0% |
| Issued capital | 100 | €750,000 | €0 | -€750,000 | -100.0% |
| Outside capital | 11 | - | €75,000 | +€75,000 | |
| Share premium | 1100/10 | - | €75,000 | +€75,000 | |
| Reserves | 13 | €401,352 | €79,474 | -€321,879 | -80.2% |
| Non-distributable reserves | 130/1 | €75,000 | €0 | -€75,000 | -100.0% |
| Legal reserve | 130 | €75,000 | €0 | -€75,000 | -100.0% |
| Distributable reserves | 133 | €326,352 | €79,474 | -€246,879 | -75.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,667 | €296,905 | +€257,238 | +648.5% |
| Amounts payable within one year | 42/48 | €39,082 | €296,905 | +€257,824 | +659.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €35,142 | €35,012 | -€130 | -0.4% |
| Suppliers | 440/4 | €35,142 | €35,012 | -€130 | -0.4% |
| Taxes, remuneration and social security | 45 | €3,939 | €19,365 | +€15,426 | +391.6% |
| Taxes | 450/3 | - | €15,535 | +€15,535 | |
| Remuneration and social security | 454/9 | €3,939 | €3,830 | -€109 | -2.8% |
| Other amounts payable | 47/48 | - | €242,528 | +€242,528 | |
| Accrued charges and deferred income | 492/3 | €586 | €0 | -€586 | -100.0% |
| Non-recurring operating income | 76A | - | €21,088 | +€21,088 | |
| Remuneration, social security and pensions | 62 | €23,421 | €23,717 | +€296 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,010 | €10,659 | -€2,350 | -18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,520 | €6,104 | -€3,417 | -35.9% |
| Non-recurring operating charges | 66A | - | €2,275 | +€2,275 | |
| Gross operating margin | 9900 | €67,775 | €136,383 | +€68,608 | +101.2% |
| Operating profit (loss) | 9901 | €21,825 | €93,628 | +€71,804 | +329.0% |
| Financial income | 75/76B | €3,956 | €79 | -€3,877 | -98.0% |
| Recurring financial income | 75 | €3,956 | €79 | -€3,877 | -98.0% |
| Financial charges | 65/66B | €25,728 | €6,286 | -€19,442 | -75.6% |
| Recurring financial charges | 65 | €25,728 | €6,286 | -€19,442 | -75.6% |
| Profit (loss) for the period before taxes | 9903 | €52 | €87,421 | +€87,369 | +167084.6% |
| Income taxes | 67/77 | - | €7,947 | +€7,947 | |
| Profit (loss) for the period | 9904 | €52 | €79,474 | +€79,421 | +151886.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52 | €79,474 | +€79,421 | +151886.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.