Q-POWER: what changed
Q-POWER
Largest movements
- Receivables within one year +€57,848
up €57,848 (+178%), from €32,568 to €90,416
of which Trade receivables: +€55,652
- Stocks and contracts -€27,779
down €27,779 (-32.3%), from €85,939 to €58,160
- Cash +€4,195
up €4,195, from €0 to €4,195
mainly Trade debts (+€47,388) and Stocks and contracts (+€27,779)
- Tangible fixed assets -€4,088
down €4,088 (-29.4%), from €13,918 to €9,830
of which Furniture and vehicles: -€3,940
- Trade debts +€47,388
up €47,388 (+54.6%), from €86,793 to €134,181
- Other debts -€43,644
down €43,644 (-55.6%), from €78,472 to €34,828
- Short-term financial debts +€23,578
up €23,578 (+539%), from €4,378 to €27,956
- Profit (loss) carried forward +€22,966
up €22,966 (+35.5%), from -€64,629 to -€41,663
- Tax, wage and social debts -€12,072
down €12,072 (-43.7%), from €27,639 to €15,567
of which Taxes: -€12,623
- Other operating charges +€49,257
up €49,257 (+1,848%), from €2,665 to €51,922
- Staff costs -€41,488
down €41,488 (-40.7%), from €102,043 to €60,555
- Gross operating margin +€30,936
up €30,936 (+25.3%), from €122,375 to €153,311
- Depreciation -€5,508
down €5,508 (-57.0%), from €9,658 to €4,150
- Financial charges -€3,837
down €3,837 (-35.8%), from €10,730 to €6,893
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,163 | €189,173 | +€30,010 | +18.9% |
| Fixed assets | 21/28 | €21,318 | €17,230 | -€4,088 | -19.2% |
| Tangible fixed assets | 22/27 | €13,918 | €9,830 | -€4,088 | -29.4% |
| Plant, machinery and equipment | 23 | €148 | €0 | -€148 | -100% |
| Furniture and vehicles | 24 | €13,770 | €9,830 | -€3,940 | -28.6% |
| Financial fixed assets | 28 | €7,400 | €7,400 | = | 0.0% |
| Current assets | 29/58 | €137,846 | €171,943 | +€34,098 | +24.7% |
| Stocks and contracts in progress | 3 | €85,939 | €58,160 | -€27,779 | -32.3% |
| Stocks | 30/36 | €85,939 | €58,160 | -€27,779 | -32.3% |
| Amounts receivable within one year | 40/41 | €32,568 | €90,416 | +€57,848 | +178% |
| Trade receivables | 40 | €11,351 | €67,003 | +€55,652 | +490% |
| Other amounts receivable | 41 | €21,217 | €23,413 | +€2,196 | +10.3% |
| Cash at bank and in hand | 54/58 | €0 | €4,195 | +€4,195 | |
| Deferred charges and accrued income | 490/1 | €19,339 | €19,173 | -€166 | -0.9% |
| Total equity and liabilities | 10/49 | €159,163 | €189,173 | +€30,010 | +18.9% |
| Equity | 10/15 | -€56,569 | -€33,603 | +€22,966 | +40.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,629 | -€41,663 | +€22,966 | +35.5% |
| Amounts payable | 17/49 | €215,732 | €222,777 | +€7,044 | +3.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €202,699 | €212,532 | +€9,833 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €5,417 | €0 | -€5,417 | -100% |
| Financial debts | 43 | €4,378 | €27,956 | +€23,578 | +539% |
| Credit institutions | 430/8 | €4,378 | €27,956 | +€23,578 | +539% |
| Trade debts | 44 | €86,793 | €134,181 | +€47,388 | +54.6% |
| Suppliers | 440/4 | €86,793 | €134,181 | +€47,388 | +54.6% |
| Taxes, remuneration and social security | 45 | €27,639 | €15,567 | -€12,072 | -43.7% |
| Taxes | 450/3 | €12,651 | €28 | -€12,623 | -99.8% |
| Remuneration and social security | 454/9 | €14,988 | €15,539 | +€551 | +3.7% |
| Other amounts payable | 47/48 | €78,472 | €34,828 | -€43,644 | -55.6% |
| Accrued charges and deferred income | 492/3 | €13,034 | €10,245 | -€2,789 | -21.4% |
| Non-recurring operating income | 76A | - | €2,250 | +€2,250 | |
| Remuneration, social security and pensions | 62 | €102,043 | €60,555 | -€41,488 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,658 | €4,150 | -€5,508 | -57.0% |
| Other operating charges | 640/8 | €2,665 | €51,922 | +€49,257 | +1,848% |
| Non-recurring operating charges | 66A | - | €6,512 | +€6,512 | |
| Gross operating margin | 9900 | €122,375 | €153,311 | +€30,936 | +25.3% |
| Operating profit (loss) | 9901 | €8,009 | €30,173 | +€22,164 | +277% |
| Financial income | 75/76B | €168 | €25 | -€142 | -84.8% |
| Recurring financial income | 75 | €168 | €25 | -€142 | -84.8% |
| Financial charges | 65/66B | €10,730 | €6,893 | -€3,837 | -35.8% |
| Recurring financial charges | 65 | €10,730 | €6,893 | -€3,837 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,553 | €23,305 | +€25,858 | |
| Income taxes | 67/77 | €544 | €339 | -€205 | -37.6% |
| Profit (loss) for the period | 9904 | -€3,097 | €22,966 | +€26,063 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,097 | €22,966 | +€26,063 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.