Q Classic Division: 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 Classic Division
Largest movements
- Stocks and contracts +€96,661
up €96,661 (+25.1%), from €384,981 to €481,642
- Cash -€94,841
down €94,841 (-54.2%), from €174,906 to €80,065
mainly Stocks and contracts (-€96,661) and Investment in fixed assets (net) (-€26,294)
- Tangible fixed assets +€19,551
up €19,551 (+153%), from €12,792 to €32,343
of which Furniture and vehicles: +€18,467
- Reserves +€31,783
up €31,783 (+14.2%), from €223,091 to €254,873
- Trade debts -€11,081
down €11,081 (-47.0%), from €23,598 to €12,518
- Write-downs -€8,000
no longer reported in 2025 (was €8,000)
- Gross operating margin -€3,655
down €3,655 (-6.3%), from €57,988 to €54,334
- Depreciation +€1,523
up €1,523 (+29.2%), from €5,219 to €6,743
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 | €795,486 | €811,722 | +€16,236 | +2.0% |
| Fixed assets | 21/28 | €12,792 | €32,343 | +€19,551 | +153% |
| Tangible fixed assets | 22/27 | €12,792 | €32,343 | +€19,551 | +153% |
| Plant, machinery and equipment | 23 | - | €1,084 | +€1,084 | |
| Furniture and vehicles | 24 | €12,792 | €31,259 | +€18,467 | +144% |
| Current assets | 29/58 | €782,694 | €779,379 | -€3,315 | -0.4% |
| Stocks and contracts in progress | 3 | €384,981 | €481,642 | +€96,661 | +25.1% |
| Stocks | 30/36 | €384,981 | €481,642 | +€96,661 | +25.1% |
| Amounts receivable within one year | 40/41 | €22,807 | €17,672 | -€5,135 | -22.5% |
| Trade receivables | 40 | €22,028 | €17,171 | -€4,857 | -22.1% |
| Other amounts receivable | 41 | €779 | €501 | -€277 | -35.6% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €174,906 | €80,065 | -€94,841 | -54.2% |
| Total equity and liabilities | 10/49 | €795,486 | €811,722 | +€16,236 | +2.0% |
| Equity | 10/15 | €758,001 | €789,784 | +€31,783 | +4.2% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Contributions outside capital | 11 | €500,000 | €500,000 | = | 0.0% |
| Other | 1109/19 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €223,091 | €254,873 | +€31,783 | +14.2% |
| Distributable reserves | 133 | €223,091 | €254,873 | +€31,783 | +14.2% |
| Profit (loss) carried forward | 14 | €34,910 | €34,910 | = | 0.0% |
| Amounts payable | 17/49 | €37,485 | €21,939 | -€15,546 | -41.5% |
| Amounts payable within one year | 42/48 | €37,485 | €21,939 | -€15,546 | -41.5% |
| Trade debts | 44 | €23,598 | €12,518 | -€11,081 | -47.0% |
| Suppliers | 440/4 | €23,598 | €12,518 | -€11,081 | -47.0% |
| Advances received on contracts in progress | 46 | €3,000 | €2,726 | -€274 | -9.1% |
| Taxes, remuneration and social security | 45 | €10,887 | €6,695 | -€4,191 | -38.5% |
| Taxes | 450/3 | €10,887 | €6,695 | -€4,191 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,219 | €6,743 | +€1,523 | +29.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,000 | - | -€8,000 | |
| Other operating charges | 640/8 | €908 | €414 | -€494 | -54.4% |
| Gross operating margin | 9900 | €57,988 | €54,334 | -€3,655 | -6.3% |
| Operating profit (loss) | 9901 | €43,861 | €47,177 | +€3,316 | +7.6% |
| Financial income | 75/76B | €0 | €90 | +€90 | +299,000% |
| Recurring financial income | 75 | €0 | €90 | +€90 | +299,000% |
| Financial charges | 65/66B | €166 | €245 | +€79 | +47.8% |
| Recurring financial charges | 65 | €166 | €245 | +€79 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €43,695 | €47,022 | +€3,327 | +7.6% |
| Income taxes | 67/77 | €14,887 | €15,240 | +€353 | +2.4% |
| Profit (loss) for the period | 9904 | €28,809 | €31,783 | +€2,974 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,809 | €31,783 | +€2,974 | +10.3% |
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.