Q-HOLD: 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-HOLD
Largest movements
- Cash -€72,514
down €72,514 (-46.6%), from €155,712 to €83,198
mainly Contributions, distributions and other (-€1.0m) and Debts after one year (-€72,582)
- Tangible fixed assets -€56,000
down €56,000 (-7.4%), from €755,108 to €699,108
of which Land and buildings: -€48,360
- Reserves -€846,382
down €846,382 (-40.7%), from €2.1m to €1.2m
of which Distributable reserves: -€846,382
- Other debts +€834,938
new in 2024: €834,938
- Debts after one year -€72,582
down €72,582 (-11.2%), from €648,379 to €575,797
- Tax, wage and social debts -€31,830
down €31,830 (-11.1%), from €286,043 to €254,212
of which Taxes: -€30,554
- Staff costs +€64,336
up €64,336 (+68.7%), from €93,629 to €157,965
- Gross operating margin +€38,271
up €38,271 (+8.3%), from €463,663 to €501,934
- Depreciation -€15,785
down €15,785 (-20.8%), from €76,005 to €60,219
- Other operating charges -€8,840
down €8,840 (-41.8%), from €21,127 to €12,287
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,137,745 | €3,011,704 | -€126,041 | -4.0% |
| Fixed assets | 21/28 | €1,311,808 | €1,255,808 | -€56,000 | -4.3% |
| Tangible fixed assets | 22/27 | €755,108 | €699,108 | -€56,000 | -7.4% |
| Land and buildings | 22 | €725,039 | €676,679 | -€48,360 | -6.7% |
| Plant, machinery and equipment | 23 | €16,741 | €14,441 | -€2,300 | -13.7% |
| Furniture and vehicles | 24 | €13,328 | €7,988 | -€5,340 | -40.1% |
| Financial fixed assets | 28 | €556,700 | €556,700 | = | 0.0% |
| Current assets | 29/58 | €1,825,937 | €1,755,896 | -€70,041 | -3.8% |
| Amounts receivable within one year | 40/41 | €1,669,613 | €1,671,973 | +€2,360 | +0.1% |
| Trade receivables | 40 | €21,819 | - | -€21,819 | |
| Other amounts receivable | 41 | €1,647,794 | €1,671,973 | +€24,179 | +1.5% |
| Cash at bank and in hand | 54/58 | €155,712 | €83,198 | -€72,514 | -46.6% |
| Deferred charges and accrued income | 490/1 | €612 | €725 | +€113 | +18.4% |
| Total equity and liabilities | 10/49 | €3,137,745 | €3,011,704 | -€126,041 | -4.0% |
| Equity | 10/15 | €2,084,787 | €1,238,405 | -€846,382 | -40.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €2,078,589 | €1,232,207 | -€846,382 | -40.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €2,076,730 | €1,230,348 | -€846,382 | -40.8% |
| Amounts payable | 17/49 | €1,052,958 | €1,773,299 | +€720,341 | +68.4% |
| Amounts payable after more than one year | 17 | €648,379 | €575,797 | -€72,582 | -11.2% |
| Financial debts | 170/4 | €648,379 | €575,797 | -€72,582 | -11.2% |
| Amounts payable within one year | 42/48 | €404,578 | €1,181,102 | +€776,524 | +192% |
| Current portion of amounts payable after more than one year | 42 | €86,917 | €74,004 | -€12,912 | -14.9% |
| Trade debts | 44 | €31,619 | €17,948 | -€13,671 | -43.2% |
| Suppliers | 440/4 | €31,619 | €17,948 | -€13,671 | -43.2% |
| Taxes, remuneration and social security | 45 | €286,043 | €254,212 | -€31,830 | -11.1% |
| Taxes | 450/3 | €266,772 | €236,219 | -€30,554 | -11.5% |
| Remuneration and social security | 454/9 | €19,270 | €17,993 | -€1,277 | -6.6% |
| Other amounts payable | 47/48 | - | €834,938 | +€834,938 | |
| Accrued charges and deferred income | 492/3 | - | €16,400 | +€16,400 | |
| Non-recurring operating income | 76A | €4,132 | - | -€4,132 | |
| Remuneration, social security and pensions | 62 | €93,629 | €157,965 | +€64,336 | +68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,005 | €60,219 | -€15,785 | -20.8% |
| Other operating charges | 640/8 | €21,127 | €12,287 | -€8,840 | -41.8% |
| Gross operating margin | 9900 | €463,663 | €501,934 | +€38,271 | +8.3% |
| Operating profit (loss) | 9901 | €272,902 | €271,462 | -€1,439 | -0.5% |
| Financial income | 75/76B | €1,866 | - | -€1,866 | |
| Recurring financial income | 75 | €1,866 | - | -€1,866 | |
| Financial charges | 65/66B | €21,935 | €25,322 | +€3,386 | +15.4% |
| Recurring financial charges | 65 | €21,935 | €25,322 | +€3,386 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €252,832 | €246,140 | -€6,692 | -2.6% |
| Income taxes | 67/77 | €86,295 | €85,022 | -€1,273 | -1.5% |
| Profit (loss) for the period | 9904 | €166,537 | €161,118 | -€5,419 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €166,537 | €161,118 | -€5,419 | -3.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.