Q.E.D. CONSULTING: 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.E.D. CONSULTING
Largest movements
- Cash +€41,719
up €41,719 (+20.1%), from €207,959 to €249,678
mainly Net result for the year (+€32,738) and Tax, wage and social debts (+€21,386)
- Tangible fixed assets -€16,409
down €16,409 (-31.0%), from €52,855 to €36,447
- Tax, wage and social debts +€21,386
up €21,386 (+117%), from €18,225 to €39,611
of which Taxes: +€17,011
- Reserves +€7,900
up €7,900 (+3.5%), from €225,587 to €233,486
- Debts after one year -€4,997
down €4,997 (-39.1%), from €12,775 to €7,777
- Other debts +€4,769
up €4,769 (+14.0%), from €34,064 to €38,833
- Gross operating margin +€24,832
up €24,832 (+63.3%), from €39,233 to €64,065
- Taxes +€5,846
up €5,846 (+66.0%), from €8,852 to €14,698
- Depreciation +€1,934
up €1,934 (+13.4%), from €14,475 to €16,409
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 | €307,344 | €335,841 | +€28,497 | +9.3% |
| Fixed assets | 21/28 | €52,855 | €36,447 | -€16,409 | -31.0% |
| Tangible fixed assets | 22/27 | €52,855 | €36,447 | -€16,409 | -31.0% |
| Furniture and vehicles | 24 | €52,855 | €36,447 | -€16,409 | -31.0% |
| Current assets | 29/58 | €254,489 | €299,394 | +€44,905 | +17.6% |
| Amounts receivable within one year | 40/41 | €44,246 | €44,755 | +€509 | +1.2% |
| Trade receivables | 40 | €31,085 | €26,862 | -€4,223 | -13.6% |
| Other amounts receivable | 41 | €13,161 | €17,893 | +€4,732 | +36.0% |
| Cash at bank and in hand | 54/58 | €207,959 | €249,678 | +€41,719 | +20.1% |
| Deferred charges and accrued income | 490/1 | €2,284 | €4,961 | +€2,677 | +117% |
| Total equity and liabilities | 10/49 | €307,344 | €335,841 | +€28,497 | +9.3% |
| Equity | 10/15 | €235,091 | €242,991 | +€7,900 | +3.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €225,587 | €233,486 | +€7,900 | +3.5% |
| Distributable reserves | 133 | €225,587 | €233,486 | +€7,900 | +3.5% |
| Profit (loss) carried forward | 14 | €2,505 | €2,505 | = | 0.0% |
| Amounts payable | 17/49 | €72,253 | €92,850 | +€20,597 | +28.5% |
| Amounts payable after more than one year | 17 | €12,775 | €7,777 | -€4,997 | -39.1% |
| Financial debts | 170/4 | €12,775 | €7,777 | -€4,997 | -39.1% |
| Amounts payable within one year | 42/48 | €59,478 | €85,072 | +€25,594 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €4,852 | €4,997 | +€145 | +3.0% |
| Trade debts | 44 | €2,337 | €1,632 | -€706 | -30.2% |
| Suppliers | 440/4 | €2,337 | €1,632 | -€706 | -30.2% |
| Taxes, remuneration and social security | 45 | €18,225 | €39,611 | +€21,386 | +117% |
| Taxes | 450/3 | €18,225 | €35,236 | +€17,011 | +93.3% |
| Remuneration and social security | 454/9 | - | €4,375 | +€4,375 | |
| Other amounts payable | 47/48 | €34,064 | €38,833 | +€4,769 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,475 | €16,409 | +€1,934 | +13.4% |
| Other operating charges | 640/8 | €578 | €529 | -€50 | -8.6% |
| Gross operating margin | 9900 | €39,233 | €64,065 | +€24,832 | +63.3% |
| Operating profit (loss) | 9901 | €24,180 | €47,128 | +€22,948 | +94.9% |
| Financial income | 75/76B | €1,156 | €867 | -€289 | -25.0% |
| Recurring financial income | 75 | €1,156 | €867 | -€289 | -25.0% |
| Financial charges | 65/66B | €429 | €560 | +€131 | +30.6% |
| Recurring financial charges | 65 | €429 | €560 | +€131 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €24,908 | €47,435 | +€22,527 | +90.4% |
| Income taxes | 67/77 | €8,852 | €14,698 | +€5,846 | +66.0% |
| Profit (loss) for the period | 9904 | €16,056 | €32,738 | +€16,682 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €16,056 | €32,738 | +€16,682 | +104% |
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 14 October 2026 via checked.be.