Q.S.A.S.: 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.S.A.S.
Largest movements
- Receivables within one year +€5,811
up €5,811 (+46.4%), from €12,534 to €18,345
of which Trade receivables: +€7,555
- Tangible fixed assets -€4,764
down €4,764 (-9.5%), from €50,089 to €45,326
of which Land and buildings: -€3,406
- Cash +€4,176
up €4,176 (+1,203%), from €347 to €4,523
mainly Other debts (+€12,410) and Trade debts (+€9,046)
- Profit (loss) carried forward -€17,346
down €17,346, from €40 to -€17,306
- Other debts +€12,410
up €12,410 (+3,617%), from €343 to €12,753
- Trade debts +€9,046
up €9,046 (+172%), from €5,264 to €14,310
- Gross operating margin -€93,556
down €93,556, from €87,113 to -€6,444
- Taxes -€26,324
down €26,324 (-98.7%), from €26,662 to €338
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 | €390,027 | €394,493 | +€4,466 | +1.1% |
| Fixed assets | 21/28 | €373,439 | €368,675 | -€4,764 | -1.3% |
| Tangible fixed assets | 22/27 | €50,089 | €45,326 | -€4,764 | -9.5% |
| Land and buildings | 22 | €43,854 | €40,448 | -€3,406 | -7.8% |
| Plant, machinery and equipment | 23 | €335 | - | -€335 | |
| Furniture and vehicles | 24 | €3,500 | €2,925 | -€575 | -16.4% |
| Other tangible fixed assets | 26 | €2,401 | €1,953 | -€448 | -18.7% |
| Financial fixed assets | 28 | €323,350 | €323,350 | = | 0.0% |
| Current assets | 29/58 | €16,588 | €25,818 | +€9,230 | +55.6% |
| Amounts receivable within one year | 40/41 | €12,534 | €18,345 | +€5,811 | +46.4% |
| Trade receivables | 40 | €10,714 | €18,269 | +€7,555 | +70.5% |
| Other amounts receivable | 41 | €1,820 | €76 | -€1,744 | -95.8% |
| Cash at bank and in hand | 54/58 | €347 | €4,523 | +€4,176 | +1,203% |
| Deferred charges and accrued income | 490/1 | €3,707 | €2,950 | -€756 | -20.4% |
| Total equity and liabilities | 10/49 | €390,027 | €394,493 | +€4,466 | +1.1% |
| Equity | 10/15 | €356,415 | €339,069 | -€17,346 | -4.9% |
| Contributions | 10/11 | €2,479 | €2,479 | = | 0.0% |
| Reserves | 13 | €353,896 | €353,896 | = | 0.0% |
| Distributable reserves | 133 | €353,896 | €353,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40 | -€17,306 | -€17,346 | |
| Amounts payable | 17/49 | €33,612 | €55,424 | +€21,812 | +64.9% |
| Amounts payable within one year | 42/48 | €33,612 | €55,424 | +€21,812 | +64.9% |
| Trade debts | 44 | €5,264 | €14,310 | +€9,046 | +172% |
| Suppliers | 440/4 | €5,264 | €14,310 | +€9,046 | +172% |
| Taxes, remuneration and social security | 45 | €28,004 | €28,361 | +€357 | +1.3% |
| Taxes | 450/3 | €28,004 | €28,361 | +€357 | +1.3% |
| Other amounts payable | 47/48 | €343 | €12,753 | +€12,410 | +3,617% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,200 | €5,560 | +€359 | +6.9% |
| Other operating charges | 640/8 | €1,884 | €1,752 | -€132 | -7.0% |
| Gross operating margin | 9900 | €87,113 | -€6,444 | -€93,556 | |
| Operating profit (loss) | 9901 | €80,029 | -€13,755 | -€93,784 | |
| Financial income | 75/76B | €696 | €2 | -€695 | -99.8% |
| Recurring financial income | 75 | €696 | €2 | -€695 | -99.8% |
| Financial charges | 65/66B | €4,066 | €3,255 | -€811 | -20.0% |
| Recurring financial charges | 65 | €4,066 | €3,255 | -€811 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €76,659 | -€17,008 | -€93,668 | |
| Income taxes | 67/77 | €26,662 | €338 | -€26,324 | -98.7% |
| Profit (loss) for the period | 9904 | €49,998 | -€17,346 | -€67,344 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,998 | -€17,346 | -€67,344 |
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 21 October 2026 via checked.be.