Q-House: 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-House
Largest movements
- Current investments +€500,000
new in 2025: €500,000
- Intangible fixed assets -€108,362
no longer reported in 2025 (was €108,362)
- Cash -€99,225
down €99,225 (-35.9%), from €276,322 to €177,097
mainly Current investments (-€500,000) and Current portion of long-term debt (-€20,000)
- Receivables within one year -€42,081
down €42,081 (-70.6%), from €59,627 to €17,546
of which Trade receivables: -€42,027
- Tangible fixed assets -€16,828
down €16,828 (-22.7%), from €74,040 to €57,212
- Reserves +€270,261
up €270,261 (+81.7%), from €330,842 to €601,103
- Current portion of long-term debt -€20,000
no longer reported in 2025 (was €20,000)
- Trade debts -€15,637
down €15,637 (-88.6%), from €17,647 to €2,010
- Tax, wage and social debts +€10,748
up €10,748 (+99.3%), from €10,823 to €21,571
of which Taxes: +€10,565
- Gross operating margin +€198,931
up €198,931 (+91.3%), from €217,791 to €416,722
- Taxes +€79,816
up €79,816 (+191%), from €41,716 to €121,532
- Depreciation -€37,567
down €37,567 (-66.2%), from €56,754 to €19,187
- Financial income +€5,222
up €5,222 (+295,050%), from €2 to €5,224
- Financial charges -€4,168
down €4,168 (-88.6%), from €4,706 to €538
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 | €522,176 | €755,807 | +€233,631 | +44.7% |
| Fixed assets | 21/28 | €182,402 | €57,212 | -€125,190 | -68.6% |
| Intangible fixed assets | 21 | €108,362 | - | -€108,362 | |
| Tangible fixed assets | 22/27 | €74,040 | €57,212 | -€16,828 | -22.7% |
| Furniture and vehicles | 24 | €74,040 | €57,212 | -€16,828 | -22.7% |
| Current assets | 29/58 | €339,774 | €698,595 | +€358,821 | +106% |
| Amounts receivable within one year | 40/41 | €59,627 | €17,546 | -€42,081 | -70.6% |
| Trade receivables | 40 | €59,561 | €17,534 | -€42,027 | -70.6% |
| Other amounts receivable | 41 | €66 | €12 | -€54 | -81.4% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €276,322 | €177,097 | -€99,225 | -35.9% |
| Deferred charges and accrued income | 490/1 | €3,825 | €3,952 | +€127 | +3.3% |
| Total equity and liabilities | 10/49 | €522,176 | €755,807 | +€233,631 | +44.7% |
| Equity | 10/15 | €415,842 | €686,103 | +€270,261 | +65.0% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €330,842 | €601,103 | +€270,261 | +81.7% |
| Distributable reserves | 133 | €330,842 | €601,103 | +€270,261 | +81.7% |
| Amounts payable | 17/49 | €106,334 | €69,704 | -€36,630 | -34.4% |
| Amounts payable within one year | 42/48 | €103,317 | €69,704 | -€33,613 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | - | -€20,000 | |
| Financial debts | 43 | €2,131 | €1,498 | -€633 | -29.7% |
| Credit institutions | 430/8 | €2,131 | €1,498 | -€633 | -29.7% |
| Trade debts | 44 | €17,647 | €2,010 | -€15,637 | -88.6% |
| Suppliers | 440/4 | €17,647 | €2,010 | -€15,637 | -88.6% |
| Advances received on contracts in progress | 46 | €2,631 | - | -€2,631 | |
| Taxes, remuneration and social security | 45 | €10,823 | €21,571 | +€10,748 | +99.3% |
| Taxes | 450/3 | €7,824 | €18,389 | +€10,565 | +135% |
| Remuneration and social security | 454/9 | €2,999 | €3,182 | +€183 | +6.1% |
| Other amounts payable | 47/48 | €50,085 | €44,626 | -€5,460 | -10.9% |
| Accrued charges and deferred income | 492/3 | €3,018 | - | -€3,018 | |
| Non-recurring operating income | 76A | €16,460 | €291,638 | +€275,178 | +1,672% |
| Remuneration, social security and pensions | 62 | €7,945 | €8,444 | +€500 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,754 | €19,187 | -€37,567 | -66.2% |
| Other operating charges | 640/8 | €1,192 | €1,151 | -€42 | -3.5% |
| Gross operating margin | 9900 | €217,791 | €416,722 | +€198,931 | +91.3% |
| Operating profit (loss) | 9901 | €151,900 | €387,940 | +€236,040 | +155% |
| Financial income | 75/76B | €2 | €5,224 | +€5,222 | +295,050% |
| Recurring financial income | 75 | €2 | €5,224 | +€5,222 | +295,050% |
| Financial charges | 65/66B | €4,706 | €538 | -€4,168 | -88.6% |
| Recurring financial charges | 65 | €4,706 | €538 | -€4,168 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | €147,196 | €392,626 | +€245,431 | +167% |
| Income taxes | 67/77 | €41,716 | €121,532 | +€79,816 | +191% |
| Profit (loss) for the period | 9904 | €105,480 | €271,094 | +€165,614 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €105,480 | €271,094 | +€165,614 | +157% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.