Q-Terra: 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-Terra
Largest movements
- Receivables within one year -€114,041
down €114,041 (-58.9%), from €193,759 to €79,718
of which Trade receivables: -€123,987
- Current investments +€114,000
up €114,000 (+57.0%), from €200,000 to €314,000
- Tangible fixed assets -€73,844
down €73,844 (-4.5%), from €1.6m to €1.6m
of which Plant, machinery and equipment: -€60,843
- Profit (loss) carried forward -€63,740
down €63,740, from €15,739 to -€48,001
- Tax, wage and social debts -€21,768
no longer reported in 2025 (was €21,768)
- Gross operating margin -€75,066
down €75,066 (-88.7%), from €84,638 to €9,572
- Depreciation -€17,471
down €17,471 (-19.1%), from €91,315 to €73,844
- Taxes -€5,652
down €5,652, from €2,826 to -€2,826
- Financial income -€3,152
down €3,152 (-33.5%), from €9,419 to €6,268
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 | €2,041,271 | €1,951,999 | -€89,271 | -4.4% |
| Fixed assets | 21/28 | €1,631,170 | €1,557,326 | -€73,844 | -4.5% |
| Tangible fixed assets | 22/27 | €1,631,170 | €1,557,326 | -€73,844 | -4.5% |
| Land and buildings | 22 | €1,570,327 | €1,557,326 | -€13,001 | -0.8% |
| Plant, machinery and equipment | 23 | €60,843 | €0 | -€60,843 | -100% |
| Current assets | 29/58 | €410,101 | €394,673 | -€15,428 | -3.8% |
| Amounts receivable within one year | 40/41 | €193,759 | €79,718 | -€114,041 | -58.9% |
| Trade receivables | 40 | €168,759 | €44,772 | -€123,987 | -73.5% |
| Other amounts receivable | 41 | €25,000 | €34,946 | +€9,946 | +39.8% |
| Current investments | 50/53 | €200,000 | €314,000 | +€114,000 | +57.0% |
| Cash at bank and in hand | 54/58 | €16,103 | €716 | -€15,387 | -95.6% |
| Deferred charges and accrued income | 490/1 | €239 | €239 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,041,271 | €1,951,999 | -€89,271 | -4.4% |
| Equity | 10/15 | €2,015,739 | €1,951,999 | -€63,740 | -3.2% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,739 | -€48,001 | -€63,740 | |
| Amounts payable | 17/49 | €25,532 | - | -€25,532 | |
| Amounts payable within one year | 42/48 | €25,532 | - | -€25,532 | |
| Trade debts | 44 | €3,764 | - | -€3,764 | |
| Suppliers | 440/4 | €3,764 | - | -€3,764 | |
| Taxes, remuneration and social security | 45 | €21,768 | - | -€21,768 | |
| Taxes | 450/3 | €21,768 | - | -€21,768 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,315 | €73,844 | -€17,471 | -19.1% |
| Other operating charges | 640/8 | €8,656 | €8,372 | -€284 | -3.3% |
| Gross operating margin | 9900 | €84,638 | €9,572 | -€75,066 | -88.7% |
| Operating profit (loss) | 9901 | -€15,333 | -€72,643 | -€57,311 | -374% |
| Financial income | 75/76B | €9,419 | €6,268 | -€3,152 | -33.5% |
| Recurring financial income | 75 | €9,419 | €6,268 | -€3,152 | -33.5% |
| Financial charges | 65/66B | €101 | €190 | +€89 | +88.7% |
| Recurring financial charges | 65 | €101 | €190 | +€89 | +88.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,014 | -€66,566 | -€60,552 | -1,007% |
| Income taxes | 67/77 | €2,826 | -€2,826 | -€5,652 | |
| Profit (loss) for the period | 9904 | -€8,840 | -€63,740 | -€54,900 | -621% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,840 | -€63,740 | -€54,900 | -621% |
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 25 October 2026 via checked.be.