Q & C: 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 & C
Largest movements
- Tangible fixed assets -€56,895
down €56,895 (-3.5%), from €1.6m to €1.6m
of which Land and buildings: -€47,857
- Cash +€19,523
up €19,523 (+97.4%), from €20,034 to €39,557
mainly Depreciation (+€62,533) and Net result for the year (+€11,706)
- Debts after one year -€59,913
down €59,913 (-25.0%), from €239,654 to €179,740
- Gross operating margin +€6,878
up €6,878 (+5.3%), from €129,765 to €136,644
- Depreciation -€6,234
down €6,234 (-9.1%), from €68,766 to €62,533
- Financial charges +€3,369
up €3,369 (+9.7%), from €34,636 to €38,005
- Taxes +€2,982
up €2,982 (+114%), from €2,622 to €5,605
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 | €1,843,776 | €1,802,428 | -€41,348 | -2.2% |
| Fixed assets | 21/28 | €1,818,240 | €1,758,845 | -€59,395 | -3.3% |
| Tangible fixed assets | 22/27 | €1,645,740 | €1,588,845 | -€56,895 | -3.5% |
| Land and buildings | 22 | €1,628,546 | €1,580,688 | -€47,857 | -2.9% |
| Furniture and vehicles | 24 | €17,195 | €8,157 | -€9,038 | -52.6% |
| Financial fixed assets | 28 | €172,500 | €170,000 | -€2,500 | -1.4% |
| Current assets | 29/58 | €25,535 | €43,583 | +€18,047 | +70.7% |
| Amounts receivable within one year | 40/41 | €3,860 | €1,896 | -€1,965 | -50.9% |
| Other amounts receivable | 41 | €3,860 | €1,896 | -€1,965 | -50.9% |
| Cash at bank and in hand | 54/58 | €20,034 | €39,557 | +€19,523 | +97.4% |
| Deferred charges and accrued income | 490/1 | €1,641 | €2,130 | +€489 | +29.8% |
| Total equity and liabilities | 10/49 | €1,843,776 | €1,802,428 | -€41,348 | -2.2% |
| Equity | 10/15 | €834,384 | €846,091 | +€11,706 | +1.4% |
| Contributions | 10/11 | €669,500 | €669,500 | = | 0.0% |
| Reserves | 13 | €112,659 | €124,159 | +€11,500 | +10.2% |
| Distributable reserves | 133 | €112,659 | €124,159 | +€11,500 | +10.2% |
| Profit (loss) carried forward | 14 | €52,226 | €52,432 | +€206 | +0.4% |
| Amounts payable | 17/49 | €1,009,391 | €956,338 | -€53,054 | -5.3% |
| Amounts payable after more than one year | 17 | €239,654 | €179,740 | -€59,913 | -25.0% |
| Financial debts | 170/4 | €239,654 | €179,740 | -€59,913 | -25.0% |
| Amounts payable within one year | 42/48 | €766,392 | €772,170 | +€5,779 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €64,906 | €64,906 | = | 0.0% |
| Trade debts | 44 | €1,982 | €115 | -€1,867 | -94.2% |
| Suppliers | 440/4 | €1,982 | €115 | -€1,867 | -94.2% |
| Taxes, remuneration and social security | 45 | €5,824 | €9,493 | +€3,668 | +63.0% |
| Taxes | 450/3 | €5,824 | €9,493 | +€3,668 | +63.0% |
| Other amounts payable | 47/48 | €693,679 | €697,657 | +€3,978 | +0.6% |
| Accrued charges and deferred income | 492/3 | €3,346 | €4,427 | +€1,081 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,766 | €62,533 | -€6,234 | -9.1% |
| Other operating charges | 640/8 | €18,431 | €18,899 | +€468 | +2.5% |
| Gross operating margin | 9900 | €129,765 | €136,644 | +€6,878 | +5.3% |
| Operating profit (loss) | 9901 | €42,568 | €55,211 | +€12,644 | +29.7% |
| Financial income | 75/76B | - | €104 | +€104 | |
| Recurring financial income | 75 | - | €104 | +€104 | |
| Financial charges | 65/66B | €34,636 | €38,005 | +€3,369 | +9.7% |
| Recurring financial charges | 65 | €34,636 | €38,005 | +€3,369 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €7,932 | €17,311 | +€9,379 | +118% |
| Income taxes | 67/77 | €2,622 | €5,605 | +€2,982 | +114% |
| Profit (loss) for the period | 9904 | €5,310 | €11,706 | +€6,396 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €5,310 | €11,706 | +€6,396 | +120% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.