Q EVENTS: 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 EVENTS
Largest movements
- Cash +€118,145
up €118,145 (+59.0%), from €200,135 to €318,280
mainly Net result for the year (+€91,347) and Depreciation (+€88,765)
- Current investments +€44,650
new in 2025: €44,650
- Tangible fixed assets -€44,444
down €44,444 (-17.1%), from €260,466 to €216,021
of which Other tangible fixed assets: -€36,357
- Receivables within one year +€18,231
up €18,231 (+35.0%), from €52,015 to €70,246
of which Other amounts receivable: +€17,305
- Reserves +€91,347
up €91,347 (+20.3%), from €450,248 to €541,595
- Trade debts +€34,080
up €34,080 (+120%), from €28,361 to €62,441
- Debts after one year +€29,150
up €29,150, from €0 to €29,150
- Tax, wage and social debts -€15,068
down €15,068 (-57.3%), from €26,305 to €11,237
of which Taxes: -€12,959
- Depreciation +€11,820
up €11,820 (+15.4%), from €76,945 to €88,765
- Gross operating margin +€5,573
up €5,573 (+1.8%), from €314,956 to €320,529
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 | €546,225 | €682,180 | +€135,956 | +24.9% |
| Fixed assets | 21/28 | €282,142 | €237,697 | -€44,444 | -15.8% |
| Tangible fixed assets | 22/27 | €260,466 | €216,021 | -€44,444 | -17.1% |
| Plant, machinery and equipment | 23 | €87,679 | €61,197 | -€26,482 | -30.2% |
| Furniture and vehicles | 24 | €101,128 | €119,522 | +€18,395 | +18.2% |
| Other tangible fixed assets | 26 | €71,659 | €35,301 | -€36,357 | -50.7% |
| Financial fixed assets | 28 | €21,676 | €21,676 | = | 0.0% |
| Current assets | 29/58 | €264,083 | €444,483 | +€180,400 | +68.3% |
| Stocks and contracts in progress | 3 | €6,054 | €2,733 | -€3,321 | -54.9% |
| Stocks | 30/36 | €6,054 | €2,733 | -€3,321 | -54.9% |
| Amounts receivable within one year | 40/41 | €52,015 | €70,246 | +€18,231 | +35.0% |
| Trade receivables | 40 | €18,239 | €19,165 | +€926 | +5.1% |
| Other amounts receivable | 41 | €33,775 | €51,080 | +€17,305 | +51.2% |
| Current investments | 50/53 | - | €44,650 | +€44,650 | |
| Cash at bank and in hand | 54/58 | €200,135 | €318,280 | +€118,145 | +59.0% |
| Deferred charges and accrued income | 490/1 | €5,879 | €8,574 | +€2,695 | +45.8% |
| Total equity and liabilities | 10/49 | €546,225 | €682,180 | +€135,956 | +24.9% |
| Equity | 10/15 | €456,448 | €547,795 | +€91,347 | +20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €450,248 | €541,595 | +€91,347 | +20.3% |
| Distributable reserves | 133 | €450,248 | €541,595 | +€91,347 | +20.3% |
| Amounts payable | 17/49 | €89,777 | €134,385 | +€44,608 | +49.7% |
| Amounts payable after more than one year | 17 | €0 | €29,150 | +€29,150 | |
| Financial debts | 170/4 | €0 | €29,150 | +€29,150 | |
| Amounts payable within one year | 42/48 | €66,376 | €81,100 | +€14,724 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €11,710 | €7,422 | -€4,288 | -36.6% |
| Trade debts | 44 | €28,361 | €62,441 | +€34,080 | +120% |
| Suppliers | 440/4 | €28,361 | €62,441 | +€34,080 | +120% |
| Taxes, remuneration and social security | 45 | €26,305 | €11,237 | -€15,068 | -57.3% |
| Taxes | 450/3 | €13,404 | €445 | -€12,959 | -96.7% |
| Remuneration and social security | 454/9 | €12,901 | €10,792 | -€2,109 | -16.3% |
| Accrued charges and deferred income | 492/3 | €23,400 | €24,135 | +€734 | +3.1% |
| Remuneration, social security and pensions | 62 | €63,437 | €60,693 | -€2,743 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,945 | €88,765 | +€11,820 | +15.4% |
| Other operating charges | 640/8 | €28,910 | €28,417 | -€493 | -1.7% |
| Gross operating margin | 9900 | €314,956 | €320,529 | +€5,573 | +1.8% |
| Operating profit (loss) | 9901 | €145,665 | €142,654 | -€3,010 | -2.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,962 | €7,427 | +€2,465 | +49.7% |
| Recurring financial charges | 65 | €4,962 | €7,427 | +€2,465 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €140,702 | €135,227 | -€5,475 | -3.9% |
| Income taxes | 67/77 | €42,929 | €43,880 | +€951 | +2.2% |
| Profit (loss) for the period | 9904 | €97,774 | €91,347 | -€6,426 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,774 | €91,347 | -€6,426 | -6.6% |
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 1 November 2026 via checked.be.