Q.E.D. Electronic: what changed
Two fiscal 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. Electronic
Largest movements
- Cash +€107,590
up €107,590 (+166.2%), from €64,731 to €172,322
mainly Current investments (+€98,000) and Net result for the year (+€15,202)
- Current investments -€98,000
down €98,000 (-100.0%), from €98,000 to €0
- Receivables within one year +€5,934
up €5,934 (+184.3%), from €3,219 to €9,153
of which Other amounts receivable: +€3,098
- Reserves +€15,202
up €15,202 (+43.1%), from €35,300 to €50,502
of which Distributable reserves: +€15,202
- Financial income +€21,574
up €21,574 (+107867700.0%), from €0 to €21,574
- Taxes +€5,963
up €5,963 (+510.1%), from €1,169 to €7,132
- Other operating charges +€2,846
up €2,846 (+656.4%), from €434 to €3,279
- Gross operating margin -€1,261
down €1,261 (-20.8%), from €6,069 to €4,807
- Financial charges +€190
up €190 (+122.2%), from €156 to €346
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.
Cash bridge derived
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 | €172,807 | €188,170 | +€15,363 | +8.9% |
| Fixed assets | 21/28 | €6,668 | €6,247 | -€422 | -6.3% |
| Tangible fixed assets | 22/27 | €6,668 | €6,247 | -€422 | -6.3% |
| Land and buildings | 22 | €6,073 | €6,073 | = | 0.0% |
| Furniture and vehicles | 24 | €595 | €173 | -€422 | -70.9% |
| Current assets | 29/58 | €166,138 | €181,923 | +€15,784 | +9.5% |
| Amounts receivable within one year | 40/41 | €3,219 | €9,153 | +€5,934 | +184.3% |
| Trade receivables | 40 | €1,415 | €4,251 | +€2,836 | +200.4% |
| Other amounts receivable | 41 | €1,804 | €4,902 | +€3,098 | +171.7% |
| Current investments | 50/53 | €98,000 | €0 | -€98,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €64,731 | €172,322 | +€107,590 | +166.2% |
| Deferred charges and accrued income | 490/1 | €188 | €449 | +€260 | +138.4% |
| Total equity and liabilities | 10/49 | €172,807 | €188,170 | +€15,363 | +8.9% |
| Equity | 10/15 | €157,972 | €173,174 | +€15,202 | +9.6% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €35,300 | €50,502 | +€15,202 | +43.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €20,300 | €35,502 | +€15,202 | +74.9% |
| Profit (loss) carried forward | 14 | €102,221 | €102,221 | = | 0.0% |
| Amounts payable | 17/49 | €14,835 | €14,995 | +€160 | +1.1% |
| Amounts payable within one year | 42/48 | €14,835 | €14,995 | +€160 | +1.1% |
| Trade debts | 44 | €709 | €1,702 | +€993 | +140.0% |
| Suppliers | 440/4 | €709 | €1,702 | +€993 | +140.0% |
| Taxes, remuneration and social security | 45 | €340 | €0 | -€340 | -100.0% |
| Taxes | 450/3 | €340 | €0 | -€340 | -100.0% |
| Other amounts payable | 47/48 | €13,786 | €13,293 | -€493 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422 | €422 | = | 0.0% |
| Other operating charges | 640/8 | €434 | €3,279 | +€2,846 | +656.4% |
| Gross operating margin | 9900 | €6,069 | €4,807 | -€1,261 | -20.8% |
| Operating profit (loss) | 9901 | €5,213 | €1,106 | -€4,107 | -78.8% |
| Financial income | 75/76B | €0 | €21,574 | +€21,574 | +107867700.0% |
| Recurring financial income | 75 | €0 | €21,574 | +€21,574 | +107867700.0% |
| Financial charges | 65/66B | €156 | €346 | +€190 | +122.2% |
| Recurring financial charges | 65 | €156 | €346 | +€190 | +122.2% |
| Profit (loss) for the period before taxes | 9903 | €5,058 | €22,334 | +€17,277 | +341.6% |
| Income taxes | 67/77 | €1,169 | €7,132 | +€5,963 | +510.1% |
| Profit (loss) for the period | 9904 | €3,889 | €15,202 | +€11,313 | +290.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,889 | €15,202 | +€11,313 | +290.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.