Q-LEX: what changed
Two fiscal 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-LEX
Largest movements
- Cash +€89,787
up €89,787 (+28.9%), from €310,292 to €400,078
mainly Other debts (+€350,726) and Net result for the year (+€129,869)
- Other debts +€350,726
new in 2025: €350,726
- Reserves -€295,131
down €295,131 (-99.6%), from €296,227 to €1,096
- Tax, wage and social debts +€29,186
up €29,186 (+84.4%), from €34,564 to €63,750
- Gross operating margin +€17,665
up €17,665 (+11.1%), from €159,479 to €177,144
- Taxes +€3,532
up €3,532 (+10.2%), from €34,564 to €38,095
- Depreciation +€3,053
up €3,053 (+57.6%), from €5,299 to €8,352
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.
Cash bridge derived
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 | €335,412 | €423,846 | +€88,435 | +26.4% |
| Fixed assets | 21/28 | €21,442 | €21,290 | -€152 | -0.7% |
| Tangible fixed assets | 22/27 | €21,442 | €21,290 | -€152 | -0.7% |
| Plant, machinery and equipment | 23 | €7,732 | €4,634 | -€3,099 | -40.1% |
| Furniture and vehicles | 24 | €3,856 | €932 | -€2,925 | -75.8% |
| Other tangible fixed assets | 26 | €9,853 | €15,725 | +€5,872 | +59.6% |
| Current assets | 29/58 | €313,970 | €402,556 | +€88,586 | +28.2% |
| Amounts receivable within one year | 40/41 | €3,678 | €2,478 | -€1,201 | -32.6% |
| Other amounts receivable | 41 | €3,678 | €2,478 | -€1,201 | -32.6% |
| Cash at bank and in hand | 54/58 | €310,292 | €400,078 | +€89,787 | +28.9% |
| Total equity and liabilities | 10/49 | €335,412 | €423,846 | +€88,435 | +26.4% |
| Equity | 10/15 | €300,227 | €5,096 | -€295,131 | -98.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €296,227 | €1,096 | -€295,131 | -99.6% |
| Distributable reserves | 133 | €296,227 | €1,096 | -€295,131 | -99.6% |
| Amounts payable | 17/49 | €35,185 | €418,750 | +€383,565 | +1090.1% |
| Amounts payable within one year | 42/48 | €35,185 | €418,750 | +€383,565 | +1090.1% |
| Trade debts | 44 | €621 | €4,274 | +€3,653 | +588.2% |
| Suppliers | 440/4 | €621 | €4,274 | +€3,653 | +588.2% |
| Taxes, remuneration and social security | 45 | €34,564 | €63,750 | +€29,186 | +84.4% |
| Taxes | 450/3 | €34,564 | €63,750 | +€29,186 | +84.4% |
| Other amounts payable | 47/48 | - | €350,726 | +€350,726 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,299 | €8,352 | +€3,053 | +57.6% |
| Other operating charges | 640/8 | €673 | €758 | +€85 | +12.7% |
| Gross operating margin | 9900 | €159,479 | €177,144 | +€17,665 | +11.1% |
| Operating profit (loss) | 9901 | €153,508 | €168,035 | +€14,527 | +9.5% |
| Financial charges | 65/66B | €81 | €70 | -€11 | -13.3% |
| Recurring financial charges | 65 | €81 | €70 | -€11 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €153,427 | €167,965 | +€14,538 | +9.5% |
| Income taxes | 67/77 | €34,564 | €38,095 | +€3,532 | +10.2% |
| Profit (loss) for the period | 9904 | €118,863 | €129,869 | +€11,006 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,863 | €129,869 | +€11,006 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.