Q-LOGIK: 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-LOGIK
Largest movements
- Receivables after one year +€102,219
new in 2025: €102,219
- Receivables within one year -€80,156
down €80,156 (-65.3%), from €122,726 to €42,569
of which Other amounts receivable: -€80,156
- Cash +€25,946
up €25,946 (+28.1%), from €92,389 to €118,335
mainly Other debts (+€164,906) and Receivables within one year (+€80,156)
- Tangible fixed assets +€4,846
up €4,846 (+6.6%), from €73,424 to €78,270
of which Furniture and vehicles: +€10,367
- Other debts +€164,906
new in 2025: €164,906
- Reserves -€129,485
down €129,485 (-46.7%), from €277,105 to €147,620
- Tax, wage and social debts +€14,833
up €14,833 (+158%), from €9,374 to €24,207
- Trade debts +€3,610
up €3,610 (+175%), from €2,061 to €5,671
- Gross operating margin -€3,189
down €3,189 (-3.7%), from €85,081 to €81,892
- Depreciation -€915
down €915 (-4.9%), from €18,791 to €17,876
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 | €288,539 | €342,504 | +€53,964 | +18.7% |
| Fixed assets | 21/28 | €73,424 | €78,270 | +€4,846 | +6.6% |
| Tangible fixed assets | 22/27 | €73,424 | €78,270 | +€4,846 | +6.6% |
| Land and buildings | 22 | €47,807 | €39,490 | -€8,317 | -17.4% |
| Plant, machinery and equipment | 23 | €12,426 | €15,222 | +€2,796 | +22.5% |
| Furniture and vehicles | 24 | €13,191 | €23,558 | +€10,367 | +78.6% |
| Current assets | 29/58 | €215,115 | €264,234 | +€49,119 | +22.8% |
| Amounts receivable after more than one year | 29 | - | €102,219 | +€102,219 | |
| Other amounts receivable | 291 | - | €102,219 | +€102,219 | |
| Amounts receivable within one year | 40/41 | €122,726 | €42,569 | -€80,156 | -65.3% |
| Trade receivables | 40 | €20,507 | €20,507 | = | 0.0% |
| Other amounts receivable | 41 | €102,219 | €22,062 | -€80,156 | -78.4% |
| Cash at bank and in hand | 54/58 | €92,389 | €118,335 | +€25,946 | +28.1% |
| Deferred charges and accrued income | 490/1 | - | €1,110 | +€1,110 | |
| Total equity and liabilities | 10/49 | €288,539 | €342,504 | +€53,964 | +18.7% |
| Equity | 10/15 | €277,105 | €147,720 | -€129,385 | -46.7% |
| Contributions | 10/11 | - | €100 | +€100 | |
| Reserves | 13 | €277,105 | €147,620 | -€129,485 | -46.7% |
| Distributable reserves | 133 | €277,105 | €147,620 | -€129,485 | -46.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,435 | €194,784 | +€183,349 | +1,603% |
| Amounts payable within one year | 42/48 | €11,435 | €194,784 | +€183,349 | +1,603% |
| Trade debts | 44 | €2,061 | €5,671 | +€3,610 | +175% |
| Suppliers | 440/4 | €2,061 | €5,671 | +€3,610 | +175% |
| Taxes, remuneration and social security | 45 | €9,374 | €24,207 | +€14,833 | +158% |
| Taxes | 450/3 | €9,374 | €24,207 | +€14,833 | +158% |
| Other amounts payable | 47/48 | - | €164,906 | +€164,906 | |
| Non-recurring operating income | 76A | €2,190 | - | -€2,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,791 | €17,876 | -€915 | -4.9% |
| Other operating charges | 640/8 | €463 | €1,195 | +€732 | +158% |
| Gross operating margin | 9900 | €85,081 | €81,892 | -€3,189 | -3.7% |
| Operating profit (loss) | 9901 | €65,827 | €62,821 | -€3,006 | -4.6% |
| Financial income | 75/76B | €1,149 | €1,428 | +€279 | +24.2% |
| Recurring financial income | 75 | €1,149 | €1,428 | +€279 | +24.2% |
| Financial charges | 65/66B | €677 | €419 | -€258 | -38.2% |
| Recurring financial charges | 65 | €677 | €419 | -€258 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €66,300 | €63,831 | -€2,469 | -3.7% |
| Income taxes | 67/77 | €18,774 | €18,260 | -€514 | -2.7% |
| Profit (loss) for the period | 9904 | €47,525 | €45,570 | -€1,955 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,525 | €45,570 | -€1,955 | -4.1% |
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 17 October 2026 via checked.be.