Q Estate: what changed
Q Estate
Largest movements
- Receivables within one year -€10,142
down €10,142 (-56.4%), from €17,967 to €7,825
of which Other amounts receivable: -€10,142
- Cash +€4,507
up €4,507 (+8,792%), from €51 to €4,558
mainly Receivables within one year (+€10,142) and Depreciation (+€2,122)
- Tangible fixed assets -€2,122
down €2,122 (-19.8%), from €10,733 to €8,612
of which Land and buildings: -€2,122
- Deferred charges and accrued income -€812
down €812 (-15.6%), from €5,195 to €4,382
- Profit (loss) carried forward -€9,136
down €9,136 (-23.4%), from -€39,031 to -€48,167
- Gross operating margin +€25,349
up €25,349 (+78.6%), from -€32,256 to -€6,907
- Taxes +€6,261
no longer reported in 2025 (was -€6,261)
- Other operating charges -€625
down €625 (-100%), from €625 to €0
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,589 | €26,020 | -€8,569 | -24.8% |
| Fixed assets | 21/28 | €11,376 | €9,255 | -€2,122 | -18.7% |
| Tangible fixed assets | 22/27 | €10,733 | €8,612 | -€2,122 | -19.8% |
| Land and buildings | 22 | €10,733 | €8,612 | -€2,122 | -19.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €643 | €643 | = | 0.0% |
| Current assets | 29/58 | €23,213 | €16,765 | -€6,448 | -27.8% |
| Amounts receivable within one year | 40/41 | €17,967 | €7,825 | -€10,142 | -56.4% |
| Trade receivables | 40 | €7,484 | €7,484 | = | 0.0% |
| Other amounts receivable | 41 | €10,483 | €341 | -€10,142 | -96.7% |
| Cash at bank and in hand | 54/58 | €51 | €4,558 | +€4,507 | +8,792% |
| Deferred charges and accrued income | 490/1 | €5,195 | €4,382 | -€812 | -15.6% |
| Total equity and liabilities | 10/49 | €34,589 | €26,020 | -€8,569 | -24.8% |
| Equity | 10/15 | -€18,571 | -€27,707 | -€9,136 | -49.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,031 | -€48,167 | -€9,136 | -23.4% |
| Amounts payable | 17/49 | €53,160 | €53,727 | +€567 | +1.1% |
| Amounts payable after more than one year | 17 | €760 | €760 | = | 0.0% |
| Financial debts | 170/4 | €760 | €760 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,400 | €52,967 | +€567 | +1.1% |
| Trade debts | 44 | - | €297 | +€297 | |
| Suppliers | 440/4 | - | €297 | +€297 | |
| Other amounts payable | 47/48 | €52,400 | €52,669 | +€270 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,195 | €2,122 | -€73 | -3.3% |
| Other operating charges | 640/8 | €625 | €0 | -€625 | -100% |
| Gross operating margin | 9900 | -€32,256 | -€6,907 | +€25,349 | +78.6% |
| Operating profit (loss) | 9901 | -€35,076 | -€9,029 | +€26,047 | +74.3% |
| Financial charges | 65/66B | €19 | €108 | +€89 | +466% |
| Recurring financial charges | 65 | €19 | €108 | +€89 | +466% |
| Profit (loss) for the period before taxes | 9903 | -€35,095 | -€9,136 | +€25,959 | +74.0% |
| Income taxes | 67/77 | -€6,261 | - | +€6,261 | |
| Profit (loss) for the period | 9904 | -€28,834 | -€9,136 | +€19,697 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,834 | -€9,136 | +€19,697 | +68.3% |
Next steps
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 7 November 2026 via checked.be.