Q-Groep: what changed
What changed
Q-Groep
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€10,784
2024 · -€36,449+€25,664
Equity
€83,708
2024 · €94,492-€10,784
Cash
€779
2024 · €52+€727
Balance sheet total
€5.1m
2024 · €889,729+€4.2m
Largest movements
Assets
- Receivables after one year +€4.3m
new in 2025: €4.3m
Equity and liabilities
- Debts after one year +€5.0m
new in 2025: €5.0m
- Other debts -€748,674
down €748,674 (-95.5%), from €784,207 to €35,534
Income statement
- Financial charges -€18,155
down €18,155 (-44.1%), from €41,176 to €23,021
- Gross operating margin +€8,129
up €8,129 (+141%), from €5,780 to €13,909
- Financial income -€680
down €680 (-100%), from €680 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.
Result 2024
-€36,449
Gross operating margin
+€8,129
Other operating charges
+€61
Financial income
-€680
Financial charges
+€18,155
Result 2025
-€10,784
raises the resultlowers the result
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.
From operations
-€5.0m
Investment
-€5,000
Financing
+€5.0m
Cash 2024
€52
From operations (derived)
-€5.0m
Net result for the year
-€10,784
Depreciation
+€647
Receivables after one year
-€4.3m
Receivables within one year
+€25,580
Smaller working-capital items
-€11,043
Other debts
-€748,674
Investment (derived)
-€5,000
Investment in fixed assets (net)
-€5,000
Financing
+€5.0m
Debts after one year
+€5.0m
Cash 2025
€779
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €889,729 | €5,119,241 | +€4.2m | +475% |
| Fixed assets | 21/28 | €841,159 | €845,512 | +€4,353 | +0.5% |
| Tangible fixed assets | 22/27 | €1,159 | €512 | -€647 | -55.8% |
| Plant, machinery and equipment | 23 | €1,159 | €512 | -€647 | -55.8% |
| Financial fixed assets | 28 | €840,000 | €845,000 | +€5,000 | +0.6% |
| Current assets | 29/58 | €48,570 | €4,273,729 | +€4.2m | +8,699% |
| Amounts receivable after more than one year | 29 | - | €4,250,000 | +€4.3m | |
| Other amounts receivable | 291 | - | €4,250,000 | +€4.3m | |
| Amounts receivable within one year | 40/41 | €48,518 | €22,938 | -€25,580 | -52.7% |
| Trade receivables | 40 | €30,195 | €22,095 | -€8,100 | -26.8% |
| Other amounts receivable | 41 | €18,323 | €843 | -€17,480 | -95.4% |
| Cash at bank and in hand | 54/58 | €52 | €779 | +€727 | +1,396% |
| Deferred charges and accrued income | 490/1 | €0 | €12 | +€12 | |
| Total equity and liabilities | 10/49 | €889,729 | €5,119,241 | +€4.2m | +475% |
| Equity | 10/15 | €94,492 | €83,708 | -€10,784 | -11.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,508 | -€16,292 | -€10,784 | -196% |
| Amounts payable | 17/49 | €795,237 | €5,035,534 | +€4.2m | +533% |
| Amounts payable after more than one year | 17 | - | €5,000,000 | +€5.0m | |
| Financial debts | 170/4 | - | €5,000,000 | +€5.0m | |
| Amounts payable within one year | 42/48 | €795,237 | €35,534 | -€759,704 | -95.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €7,072 | €0 | -€7,072 | -100% |
| Suppliers | 440/4 | €7,072 | €0 | -€7,072 | -100% |
| Taxes, remuneration and social security | 45 | €3,958 | €0 | -€3,958 | -100% |
| Taxes | 450/3 | €3,958 | €0 | -€3,958 | -100% |
| Other amounts payable | 47/48 | €784,207 | €35,534 | -€748,674 | -95.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €647 | €647 | = | 0.0% |
| Other operating charges | 640/8 | €1,086 | €1,025 | -€61 | -5.6% |
| Gross operating margin | 9900 | €5,780 | €13,909 | +€8,129 | +141% |
| Operating profit (loss) | 9901 | €4,047 | €12,237 | +€8,190 | +202% |
| Financial income | 75/76B | €680 | €0 | -€680 | -100% |
| Recurring financial income | 75 | €680 | €0 | -€680 | -100% |
| Financial charges | 65/66B | €41,176 | €23,021 | -€18,155 | -44.1% |
| Recurring financial charges | 65 | €41,176 | €23,021 | -€18,155 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,449 | -€10,784 | +€25,664 | +70.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€36,449 | -€10,784 | +€25,664 | +70.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,449 | -€10,784 | +€25,664 | +70.4% |
Next steps
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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 2 November 2026 via checked.be.