Q8S BDC: what changed
Two fiscal 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.
Q8S BDC
Largest movements
- Receivables within one year -€28,965
down €28,965 (-12.4%), from €232,905 to €203,940
of which Trade receivables: -€52,666
- Cash -€10,611
down €10,611 (-20.0%), from €53,184 to €42,573
mainly Contributions, distributions and other (-€120,000) and Trade debts (-€63,812)
- Stocks and contracts +€8,200
up €8,200 (+11.0%), from €74,686 to €82,886
- Deferred charges and accrued income -€3,877
down €3,877 (-25.4%), from €15,268 to €11,390
- Trade debts -€63,812
down €63,812 (-65.7%), from €97,154 to €33,342
- Other debts -€50,000
down €50,000 (-29.4%), from €170,000 to €120,000
- Profit (loss) carried forward +€44,252
up €44,252 (+142.9%), from €30,964 to €75,216
- Tax, wage and social debts +€33,822
up €33,822 (+61.4%), from €55,054 to €88,877
of which Remuneration and social security: +€19,589
- Staff costs +€18,707
up €18,707 (+8.5%), from €218,873 to €237,580
- Financial income -€17,668
down €17,668 (-25.5%), from €69,179 to €51,511
- Gross operating margin +€16,283
up €16,283 (+4.7%), from €348,235 to €364,518
- Taxes +€11,001
up €11,001 (+1915.9%), from €574 to €11,576
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.
Cash bridge derived
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 | €378,172 | €342,949 | -€35,223 | -9.3% |
| Fixed assets | 21/28 | €2,130 | €2,160 | +€30 | +1.4% |
| Financial fixed assets | 28 | €2,130 | €2,160 | +€30 | +1.4% |
| Current assets | 29/58 | €376,042 | €340,789 | -€35,253 | -9.4% |
| Stocks and contracts in progress | 3 | €74,686 | €82,886 | +€8,200 | +11.0% |
| Stocks | 30/36 | €74,686 | €82,886 | +€8,200 | +11.0% |
| Amounts receivable within one year | 40/41 | €232,905 | €203,940 | -€28,965 | -12.4% |
| Trade receivables | 40 | €56,406 | €3,739 | -€52,666 | -93.4% |
| Other amounts receivable | 41 | €176,499 | €200,200 | +€23,701 | +13.4% |
| Cash at bank and in hand | 54/58 | €53,184 | €42,573 | -€10,611 | -20.0% |
| Deferred charges and accrued income | 490/1 | €15,268 | €11,390 | -€3,877 | -25.4% |
| Total equity and liabilities | 10/49 | €378,172 | €342,949 | -€35,223 | -9.3% |
| Equity | 10/15 | €55,964 | €100,216 | +€44,252 | +79.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,964 | €75,216 | +€44,252 | +142.9% |
| Amounts payable | 17/49 | €322,208 | €242,733 | -€79,475 | -24.7% |
| Amounts payable within one year | 42/48 | €322,208 | €242,219 | -€79,990 | -24.8% |
| Trade debts | 44 | €97,154 | €33,342 | -€63,812 | -65.7% |
| Suppliers | 440/4 | €97,154 | €33,342 | -€63,812 | -65.7% |
| Taxes, remuneration and social security | 45 | €55,054 | €88,877 | +€33,822 | +61.4% |
| Taxes | 450/3 | €3,894 | €18,127 | +€14,233 | +365.5% |
| Remuneration and social security | 454/9 | €51,161 | €70,750 | +€19,589 | +38.3% |
| Other amounts payable | 47/48 | €170,000 | €120,000 | -€50,000 | -29.4% |
| Accrued charges and deferred income | 492/3 | - | €514 | +€514 | |
| Remuneration, social security and pensions | 62 | €218,873 | €237,580 | +€18,707 | +8.5% |
| Other operating charges | 640/8 | €1,378 | €904 | -€474 | -34.4% |
| Gross operating margin | 9900 | €348,235 | €364,518 | +€16,283 | +4.7% |
| Operating profit (loss) | 9901 | €127,984 | €126,035 | -€1,949 | -1.5% |
| Financial income | 75/76B | €69,179 | €51,511 | -€17,668 | -25.5% |
| Recurring financial income | 75 | €69,179 | €51,511 | -€17,668 | -25.5% |
| Financial charges | 65/66B | €1,102 | €1,718 | +€616 | +55.9% |
| Recurring financial charges | 65 | €1,102 | €1,718 | +€616 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €196,061 | €175,828 | -€20,233 | -10.3% |
| Income taxes | 67/77 | €574 | €11,576 | +€11,001 | +1915.9% |
| Profit (loss) for the period | 9904 | €195,487 | €164,252 | -€31,234 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €195,487 | €164,252 | -€31,234 | -16.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.