Q OFFICE: 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 OFFICE
Largest movements
- Receivables within one year +€26,592
up €26,592 (+188%), from €14,148 to €40,740
of which Trade receivables: +€22,688
- Cash -€10,745
down €10,745 (-53.0%), from €20,267 to €9,522
mainly Receivables within one year (-€26,592) and Debts after one year (-€15,377)
- Reserves +€26,975
up €26,975 (+47.0%), from €57,337 to €84,312
of which Distributable reserves: +€26,975
- Debts after one year -€15,377
down €15,377 (-22.2%), from €69,324 to €53,947
- Short-term financial debts +€4,384
new in 2025: €4,384
- Trade debts -€3,511
down €3,511 (-86.2%), from €4,071 to €560
- Tax, wage and social debts +€1,947
up €1,947 (+94.2%), from €2,068 to €4,015
- Gross operating margin +€27,883
up €27,883 (+142%), from €19,697 to €47,581
- Taxes +€10,139
up €10,139 (+138%), from €7,344 to €17,482
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 | €168,175 | €182,547 | +€14,372 | +8.5% |
| Fixed assets | 21/28 | €132,774 | €132,285 | -€489 | -0.4% |
| Tangible fixed assets | 22/27 | €1,819 | €1,330 | -€489 | -26.9% |
| Land and buildings | 22 | €861 | €574 | -€287 | -33.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €958 | €756 | -€202 | -21.1% |
| Financial fixed assets | 28 | €130,955 | €130,955 | = | 0.0% |
| Current assets | 29/58 | €35,402 | €50,262 | +€14,860 | +42.0% |
| Amounts receivable within one year | 40/41 | €14,148 | €40,740 | +€26,592 | +188% |
| Trade receivables | 40 | €2,269 | €24,956 | +€22,688 | +1,000% |
| Other amounts receivable | 41 | €11,879 | €15,783 | +€3,904 | +32.9% |
| Cash at bank and in hand | 54/58 | €20,267 | €9,522 | -€10,745 | -53.0% |
| Deferred charges and accrued income | 490/1 | €987 | €0 | -€987 | -100% |
| Total equity and liabilities | 10/49 | €168,175 | €182,547 | +€14,372 | +8.5% |
| Equity | 10/15 | €75,937 | €102,912 | +€26,975 | +35.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,337 | €84,312 | +€26,975 | +47.0% |
| Tax-exempt reserves | 132 | €226 | €226 | = | 0.0% |
| Distributable reserves | 133 | €57,111 | €84,086 | +€26,975 | +47.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €92,238 | €79,635 | -€12,603 | -13.7% |
| Amounts payable after more than one year | 17 | €69,324 | €53,947 | -€15,377 | -22.2% |
| Financial debts | 170/4 | €69,324 | €53,947 | -€15,377 | -22.2% |
| Amounts payable within one year | 42/48 | €22,412 | €25,602 | +€3,190 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €16,273 | €16,643 | +€370 | +2.3% |
| Financial debts | 43 | - | €4,384 | +€4,384 | |
| Credit institutions | 430/8 | - | €4,384 | +€4,384 | |
| Trade debts | 44 | €4,071 | €560 | -€3,511 | -86.2% |
| Suppliers | 440/4 | €4,071 | €560 | -€3,511 | -86.2% |
| Taxes, remuneration and social security | 45 | €2,068 | €4,015 | +€1,947 | +94.2% |
| Taxes | 450/3 | €2,068 | €4,015 | +€1,947 | +94.2% |
| Accrued charges and deferred income | 492/3 | €502 | €86 | -€416 | -82.9% |
| Remuneration, social security and pensions | 62 | €0 | €318 | +€318 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €558 | €489 | -€69 | -12.4% |
| Other operating charges | 640/8 | €987 | €917 | -€70 | -7.1% |
| Gross operating margin | 9900 | €19,697 | €47,581 | +€27,883 | +142% |
| Operating profit (loss) | 9901 | €18,152 | €45,857 | +€27,705 | +153% |
| Financial income | 75/76B | €727 | €693 | -€34 | -4.6% |
| Recurring financial income | 75 | €727 | €693 | -€34 | -4.6% |
| Financial charges | 65/66B | €2,249 | €2,092 | -€156 | -6.9% |
| Recurring financial charges | 65 | €2,249 | €2,092 | -€156 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €16,630 | €44,458 | +€27,827 | +167% |
| Income taxes | 67/77 | €7,344 | €17,482 | +€10,139 | +138% |
| Profit (loss) for the period | 9904 | €9,286 | €26,975 | +€17,689 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €9,286 | €26,975 | +€17,689 | +190% |
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 14 October 2026 via checked.be.