Q-DESIGN: 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-DESIGN
Largest movements
- Stocks and contracts -€119,295
down €119,295 (-19.5%), from €610,225 to €490,930
- Receivables within one year +€20,768
up €20,768 (+50.0%), from €41,519 to €62,287
of which Other amounts receivable: +€15,077
- Deferred charges and accrued income +€8,871
up €8,871 (+836%), from €1,062 to €9,932
- Cash -€8,418
down €8,418 (-30.1%), from €27,934 to €19,516
mainly Net result for the year (-€312,880) and Tax, wage and social debts (-€64,121)
- Profit (loss) carried forward -€312,880
down €312,880 (-4,224%), from -€7,407 to -€320,286
- Debts after one year +€164,287
new in 2025: €164,287
- Trade debts +€72,848
up €72,848 (+145%), from €50,141 to €122,989
- Tax, wage and social debts -€64,121
down €64,121 (-56.0%), from €114,587 to €50,465
of which Remuneration and social security: -€32,106
- Other debts +€48,766
up €48,766 (+18.1%), from €269,943 to €318,709
- Gross operating margin -€164,794
down €164,794 (-58.6%), from €281,281 to €116,487
- Staff costs -€69,069
down €69,069 (-15.2%), from €453,193 to €384,124
- Financial charges +€8,545
up €8,545 (+89.2%), from €9,580 to €18,125
- Depreciation +€5,575
up €5,575 (+31.6%), from €17,639 to €23,214
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 | €734,824 | €643,724 | -€91,100 | -12.4% |
| Fixed assets | 21/28 | €54,084 | €61,059 | +€6,975 | +12.9% |
| Tangible fixed assets | 22/27 | €54,033 | €61,008 | +€6,975 | +12.9% |
| Land and buildings | 22 | €1,938 | €1,677 | -€262 | -13.5% |
| Plant, machinery and equipment | 23 | €49,179 | €32,787 | -€16,392 | -33.3% |
| Furniture and vehicles | 24 | €2,916 | €26,544 | +€23,628 | +810% |
| Financial fixed assets | 28 | €51 | €51 | = | 0.0% |
| Current assets | 29/58 | €680,740 | €582,665 | -€98,075 | -14.4% |
| Stocks and contracts in progress | 3 | €610,225 | €490,930 | -€119,295 | -19.5% |
| Stocks | 30/36 | €610,225 | €490,930 | -€119,295 | -19.5% |
| Amounts receivable within one year | 40/41 | €41,519 | €62,287 | +€20,768 | +50.0% |
| Trade receivables | 40 | €40,019 | €45,710 | +€5,691 | +14.2% |
| Other amounts receivable | 41 | €1,500 | €16,577 | +€15,077 | +1,005% |
| Cash at bank and in hand | 54/58 | €27,934 | €19,516 | -€8,418 | -30.1% |
| Deferred charges and accrued income | 490/1 | €1,062 | €9,932 | +€8,871 | +836% |
| Total equity and liabilities | 10/49 | €734,824 | €643,724 | -€91,100 | -12.4% |
| Equity | 10/15 | €300,153 | -€12,726 | -€312,880 | |
| Contributions | 10/11 | €279,600 | €279,600 | = | 0.0% |
| Capital | 10 | €279,600 | €279,600 | = | 0.0% |
| Issued capital | 100 | €279,600 | €279,600 | = | 0.0% |
| Reserves | 13 | €27,960 | €27,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,960 | €27,960 | = | 0.0% |
| Legal reserve | 130 | €27,960 | €27,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,407 | -€320,286 | -€312,880 | -4,224% |
| Amounts payable | 17/49 | €434,671 | €656,451 | +€221,780 | +51.0% |
| Amounts payable after more than one year | 17 | - | €164,287 | +€164,287 | |
| Financial debts | 170/4 | - | €164,287 | +€164,287 | |
| Amounts payable within one year | 42/48 | €434,671 | €492,164 | +€57,493 | +13.2% |
| Trade debts | 44 | €50,141 | €122,989 | +€72,848 | +145% |
| Suppliers | 440/4 | €50,141 | €122,989 | +€72,848 | +145% |
| Taxes, remuneration and social security | 45 | €114,587 | €50,465 | -€64,121 | -56.0% |
| Taxes | 450/3 | €46,829 | €14,813 | -€32,015 | -68.4% |
| Remuneration and social security | 454/9 | €67,758 | €35,652 | -€32,106 | -47.4% |
| Other amounts payable | 47/48 | €269,943 | €318,709 | +€48,766 | +18.1% |
| Non-recurring operating income | 76A | €13,376 | - | -€13,376 | |
| Remuneration, social security and pensions | 62 | €453,193 | €384,124 | -€69,069 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,639 | €23,214 | +€5,575 | +31.6% |
| Other operating charges | 640/8 | €2,089 | €3,580 | +€1,491 | +71.4% |
| Gross operating margin | 9900 | €281,281 | €116,487 | -€164,794 | -58.6% |
| Operating profit (loss) | 9901 | -€191,640 | -€294,431 | -€102,791 | -53.6% |
| Financial income | 75/76B | €16 | €0 | -€16 | -99.8% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.8% |
| Financial charges | 65/66B | €9,580 | €18,125 | +€8,545 | +89.2% |
| Recurring financial charges | 65 | €9,580 | €18,125 | +€8,545 | +89.2% |
| Profit (loss) for the period before taxes | 9903 | -€201,204 | -€312,556 | -€111,353 | -55.3% |
| Income taxes | 67/77 | €314 | €323 | +€9 | +2.9% |
| Profit (loss) for the period | 9904 | -€201,518 | -€312,880 | -€111,362 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€201,518 | -€312,880 | -€111,362 | -55.3% |
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 29 October 2026 via checked.be.