Q-CHEM: what changed
What changed
Q-CHEM
NACE 20.200, Manufacture of chemicals and chemical products
filed annual accounts (NBB)
Net result for the year
€111,736
2024 · €164,454-€52,718
Equity
€1.9m
2024 · €1.8m+€111,736
Cash
€1,077
2024 · €16,363-€15,285
Balance sheet total
€1.9m
2024 · €1.8m+€93,763
Largest movements
Assets
- Stocks and contracts +€477,710
new in 2025: €477,710
- Current investments -€390,000
down €390,000 (-23.2%), from €1.7m to €1.3m
- Receivables within one year +€22,080
up €22,080 (+27.5%), from €80,417 to €102,497
of which Other amounts receivable: +€14,319
Equity and liabilities
- Profit (loss) carried forward +€111,736
up €111,736 (+11.9%), from €939,081 to €1.1m
- Trade debts -€23,398
down €23,398 (-88.8%), from €26,342 to €2,945
Income statement
- Write-downs +€42,450
no longer reported in 2025 (was -€42,450)
- Financial income -€21,510
down €21,510 (-40.3%), from €53,385 to €31,875
- Taxes -€17,644
down €17,644 (-32.1%), from €54,889 to €37,245
- Gross operating margin -€10,815
down €10,815 (-8.1%), from €134,351 to €123,535
- Depreciation -€3,329
down €3,329 (-81.8%), from €4,070 to €742
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€164,454
Gross operating margin
-€10,815
Depreciation
+€3,329
Write-downs
-€42,450
Other operating charges
+€1,490
Financial income
-€21,510
Financial charges
-€405
Taxes
+€17,644
Result 2025
€111,736
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€405,285
Investment
+€390,000
Financing
€0
Cash 2024
€16,363
From operations (derived)
-€405,285
Net result for the year
+€111,736
Depreciation
+€742
Stocks and contracts
-€477,710
Receivables within one year
-€22,080
Trade debts
-€23,398
Tax, wage and social debts
+€4,631
Other debts
+€794
Investment (derived)
+€390,000
Current investments
+€390,000
Cash 2025
€1,077
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,783,512 | €1,877,275 | +€93,763 | +5.3% |
| Fixed assets | 21/28 | €6,732 | €5,990 | -€742 | -11.0% |
| Tangible fixed assets | 22/27 | €5,472 | €4,730 | -€742 | -13.6% |
| Other tangible fixed assets | 26 | €5,472 | €4,730 | -€742 | -13.6% |
| Financial fixed assets | 28 | €1,260 | €1,260 | = | 0.0% |
| Current assets | 29/58 | €1,776,780 | €1,871,285 | +€94,505 | +5.3% |
| Stocks and contracts in progress | 3 | - | €477,710 | +€477,710 | |
| Stocks | 30/36 | - | €477,710 | +€477,710 | |
| Amounts receivable within one year | 40/41 | €80,417 | €102,497 | +€22,080 | +27.5% |
| Trade receivables | 40 | €67,630 | €75,392 | +€7,761 | +11.5% |
| Other amounts receivable | 41 | €12,787 | €27,105 | +€14,319 | +112% |
| Current investments | 50/53 | €1,680,000 | €1,290,000 | -€390,000 | -23.2% |
| Cash at bank and in hand | 54/58 | €16,363 | €1,077 | -€15,285 | -93.4% |
| Total equity and liabilities | 10/49 | €1,783,512 | €1,877,275 | +€93,763 | +5.3% |
| Equity | 10/15 | €1,756,731 | €1,868,466 | +€111,736 | +6.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €756,150 | €756,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €939,081 | €1,050,816 | +€111,736 | +11.9% |
| Amounts payable | 17/49 | €26,781 | €8,809 | -€17,973 | -67.1% |
| Amounts payable within one year | 42/48 | €26,781 | €8,809 | -€17,973 | -67.1% |
| Trade debts | 44 | €26,342 | €2,945 | -€23,398 | -88.8% |
| Suppliers | 440/4 | €26,342 | €2,945 | -€23,398 | -88.8% |
| Taxes, remuneration and social security | 45 | €439 | €5,070 | +€4,631 | +1,054% |
| Taxes | 450/3 | €439 | €5,070 | +€4,631 | +1,054% |
| Other amounts payable | 47/48 | - | €794 | +€794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,070 | €742 | -€3,329 | -81.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€42,450 | - | +€42,450 | |
| Other operating charges | 640/8 | €6,397 | €4,908 | -€1,490 | -23.3% |
| Gross operating margin | 9900 | €134,351 | €123,535 | -€10,815 | -8.1% |
| Operating profit (loss) | 9901 | €166,334 | €117,886 | -€48,448 | -29.1% |
| Financial income | 75/76B | €53,385 | €31,875 | -€21,510 | -40.3% |
| Recurring financial income | 75 | €53,385 | €31,875 | -€21,510 | -40.3% |
| Financial charges | 65/66B | €375 | €780 | +€405 | +108% |
| Recurring financial charges | 65 | €375 | €780 | +€405 | +108% |
| Profit (loss) for the period before taxes | 9903 | €219,344 | €148,981 | -€70,363 | -32.1% |
| Income taxes | 67/77 | €54,889 | €37,245 | -€17,644 | -32.1% |
| Profit (loss) for the period | 9904 | €164,454 | €111,736 | -€52,718 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €164,454 | €111,736 | -€52,718 | -32.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.