Q-Trade B: 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-Trade B
Largest movements
- Tangible fixed assets -€62,671
down €62,671 (-6.8%), from €924,858 to €862,187
of which Furniture and vehicles: -€43,949
- Receivables within one year -€43,153
down €43,153 (-32.6%), from €132,526 to €89,372
of which Trade receivables: -€37,574
- Cash -€18,846
down €18,846 (-66.6%), from €28,305 to €9,459
mainly Other debts (-€70,261) and Trade debts (-€41,168)
- Other debts -€70,261
down €70,261 (-17.4%), from €403,048 to €332,787
- Trade debts -€41,168
down €41,168 (-34.4%), from €119,660 to €78,492
- Short-term financial debts +€35,000
up €35,000 (+28.0%), from €125,000 to €160,000
- Debts after one year -€32,249
down €32,249 (-24.3%), from €132,868 to €100,619
- Current portion of long-term debt -€28,424
down €28,424 (-46.8%), from €60,673 to €32,249
- Financial income -€44,990
down €44,990 (-100.0%), from €45,000 to €11
of which Non-recurring financial income: -€45,000
- Gross operating margin +€17,673
up €17,673 (+18.8%), from €93,949 to €111,622
- Depreciation -€9,983
down €9,983 (-16.7%), from €59,654 to €49,671
- Staff costs +€6,366
up €6,366 (+74.1%), from €8,590 to €14,956
- Financial charges -€2,388
down €2,388 (-10.6%), from €22,469 to €20,082
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 | €1,085,929 | €961,258 | -€124,671 | -11.5% |
| Fixed assets | 21/28 | €925,098 | €862,427 | -€62,671 | -6.8% |
| Tangible fixed assets | 22/27 | €924,858 | €862,187 | -€62,671 | -6.8% |
| Plant, machinery and equipment | 23 | €689,803 | €677,964 | -€11,839 | -1.7% |
| Furniture and vehicles | 24 | €210,426 | €166,477 | -€43,949 | -20.9% |
| Leasing and similar rights | 25 | €6,883 | - | -€6,883 | |
| Other tangible fixed assets | 26 | €17,746 | €17,746 | = | 0.0% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €160,831 | €98,831 | -€62,000 | -38.5% |
| Amounts receivable within one year | 40/41 | €132,526 | €89,372 | -€43,153 | -32.6% |
| Trade receivables | 40 | €44,118 | €6,544 | -€37,574 | -85.2% |
| Other amounts receivable | 41 | €88,408 | €82,828 | -€5,580 | -6.3% |
| Cash at bank and in hand | 54/58 | €28,305 | €9,459 | -€18,846 | -66.6% |
| Total equity and liabilities | 10/49 | €1,085,929 | €961,258 | -€124,671 | -11.5% |
| Equity | 10/15 | €221,080 | €232,798 | +€11,718 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €116,000 | €116,000 | = | 0.0% |
| Reserves | 13 | €86,480 | €98,198 | +€11,718 | +13.5% |
| Distributable reserves | 133 | €86,480 | €98,198 | +€11,718 | +13.5% |
| Amounts payable | 17/49 | €864,849 | €728,460 | -€136,389 | -15.8% |
| Amounts payable after more than one year | 17 | €132,868 | €100,619 | -€32,249 | -24.3% |
| Financial debts | 170/4 | €132,868 | €100,619 | -€32,249 | -24.3% |
| Amounts payable within one year | 42/48 | €725,149 | €625,565 | -€99,584 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €60,673 | €32,249 | -€28,424 | -46.8% |
| Financial debts | 43 | €125,000 | €160,000 | +€35,000 | +28.0% |
| Credit institutions | 430/8 | €125,000 | €160,000 | +€35,000 | +28.0% |
| Trade debts | 44 | €119,660 | €78,492 | -€41,168 | -34.4% |
| Suppliers | 440/4 | €119,660 | €78,492 | -€41,168 | -34.4% |
| Taxes, remuneration and social security | 45 | €16,768 | €22,037 | +€5,269 | +31.4% |
| Taxes | 450/3 | €15,748 | €20,976 | +€5,228 | +33.2% |
| Remuneration and social security | 454/9 | €1,019 | €1,061 | +€41 | +4.0% |
| Other amounts payable | 47/48 | €403,048 | €332,787 | -€70,261 | -17.4% |
| Accrued charges and deferred income | 492/3 | €6,832 | €2,276 | -€4,555 | -66.7% |
| Non-recurring operating income | 76A | - | €179,199 | +€179,199 | |
| Remuneration, social security and pensions | 62 | €8,590 | €14,956 | +€6,366 | +74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,654 | €49,671 | -€9,983 | -16.7% |
| Other operating charges | 640/8 | €1,854 | €2,143 | +€289 | +15.6% |
| Non-recurring operating charges | 66A | €30,422 | €7,500 | -€22,922 | -75.3% |
| Gross operating margin | 9900 | €93,949 | €111,622 | +€17,673 | +18.8% |
| Operating profit (loss) | 9901 | -€6,570 | €37,352 | +€43,922 | |
| Financial income | 75/76B | €45,000 | €11 | -€44,990 | -100.0% |
| Recurring financial income | 75 | €45,000 | €11 | -€44,990 | -100.0% |
| Non-recurring financial income | 76B | €45,000 | - | -€45,000 | |
| Financial charges | 65/66B | €22,469 | €20,082 | -€2,388 | -10.6% |
| Recurring financial charges | 65 | €22,469 | €20,082 | -€2,388 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €15,960 | €17,281 | +€1,320 | +8.3% |
| Income taxes | 67/77 | €5,817 | €5,563 | -€254 | -4.4% |
| Profit (loss) for the period | 9904 | €10,144 | €11,718 | +€1,574 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,144 | €11,718 | +€1,574 | +15.5% |
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 22 October 2026 via checked.be.