QAB 12: 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.
QAB 12
Largest movements
- Receivables within one year +€350,711
up €350,711 (+391%), from €89,757 to €440,468
of which Other amounts receivable: +€196,673
- Cash -€269,503
down €269,503 (-57.0%), from €472,994 to €203,491
mainly Receivables within one year (-€350,711) and Net result for the year (-€83,696)
- Tangible fixed assets +€42,038
up €42,038 (+101%), from €41,691 to €83,729
of which Other tangible fixed assets: +€38,753
- Deferred charges and accrued income -€7,948
down €7,948 (-97.8%), from €8,125 to €177
- Trade debts +€243,956
up €243,956 (+300%), from €81,215 to €325,170
- Profit (loss) carried forward -€83,696
down €83,696 (-57.3%), from -€146,118 to -€229,814
- Other debts -€33,331
down €33,331 (-7.5%), from €441,736 to €408,405
- Tax, wage and social debts -€26,265
down €26,265 (-22.2%), from €118,204 to €91,939
of which Taxes: -€25,520
- Accrued charges and deferred income +€15,552
up €15,552 (+403%), from €3,864 to €19,416
- Staff costs +€125,974
up €125,974 (+38.0%), from €331,208 to €457,183
- Other operating charges -€23,187
down €23,187 (-76.5%), from €30,313 to €7,126
- Gross operating margin +€9,444
up €9,444 (+2.2%), from €428,956 to €438,400
- Financial charges +€7,681
up €7,681 (+20.9%), from €36,667 to €44,348
- Depreciation +€5,292
up €5,292 (+28.4%), from €18,625 to €23,917
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 | €667,753 | €783,969 | +€116,216 | +17.4% |
| Fixed assets | 21/28 | €83,688 | €123,448 | +€39,761 | +47.5% |
| Intangible fixed assets | 21 | €41,936 | €39,719 | -€2,218 | -5.3% |
| Tangible fixed assets | 22/27 | €41,691 | €83,729 | +€42,038 | +101% |
| Plant, machinery and equipment | 23 | €1,924 | €1,228 | -€696 | -36.2% |
| Furniture and vehicles | 24 | €8,001 | €11,983 | +€3,981 | +49.8% |
| Other tangible fixed assets | 26 | €31,766 | €70,519 | +€38,753 | +122% |
| Financial fixed assets | 28 | €60 | €0 | -€60 | -100% |
| Current assets | 29/58 | €584,065 | €660,521 | +€76,455 | +13.1% |
| Stocks and contracts in progress | 3 | €13,189 | €16,385 | +€3,195 | +24.2% |
| Stocks | 30/36 | €13,189 | €16,385 | +€3,195 | +24.2% |
| Amounts receivable within one year | 40/41 | €89,757 | €440,468 | +€350,711 | +391% |
| Trade receivables | 40 | €0 | €154,038 | +€154,038 | |
| Other amounts receivable | 41 | €89,757 | €286,430 | +€196,673 | +219% |
| Cash at bank and in hand | 54/58 | €472,994 | €203,491 | -€269,503 | -57.0% |
| Deferred charges and accrued income | 490/1 | €8,125 | €177 | -€7,948 | -97.8% |
| Total equity and liabilities | 10/49 | €667,753 | €783,969 | +€116,216 | +17.4% |
| Equity | 10/15 | €22,735 | -€60,961 | -€83,696 | |
| Contributions | 10/11 | €168,853 | €168,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€146,118 | -€229,814 | -€83,696 | -57.3% |
| Amounts payable | 17/49 | €645,018 | €844,930 | +€199,912 | +31.0% |
| Amounts payable within one year | 42/48 | €641,155 | €825,514 | +€184,360 | +28.8% |
| Trade debts | 44 | €81,215 | €325,170 | +€243,956 | +300% |
| Suppliers | 440/4 | €81,215 | €325,170 | +€243,956 | +300% |
| Taxes, remuneration and social security | 45 | €118,204 | €91,939 | -€26,265 | -22.2% |
| Taxes | 450/3 | €42,591 | €17,071 | -€25,520 | -59.9% |
| Remuneration and social security | 454/9 | €75,613 | €74,867 | -€745 | -1.0% |
| Other amounts payable | 47/48 | €441,736 | €408,405 | -€33,331 | -7.5% |
| Accrued charges and deferred income | 492/3 | €3,864 | €19,416 | +€15,552 | +403% |
| Remuneration, social security and pensions | 62 | €331,208 | €457,183 | +€125,974 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,625 | €23,917 | +€5,292 | +28.4% |
| Other operating charges | 640/8 | €30,313 | €7,126 | -€23,187 | -76.5% |
| Gross operating margin | 9900 | €428,956 | €438,400 | +€9,444 | +2.2% |
| Operating profit (loss) | 9901 | €48,810 | -€49,826 | -€98,636 | |
| Financial income | 75/76B | €6,413 | €9,897 | +€3,484 | +54.3% |
| Recurring financial income | 75 | €6,413 | €9,897 | +€3,484 | +54.3% |
| Financial charges | 65/66B | €36,667 | €44,348 | +€7,681 | +20.9% |
| Recurring financial charges | 65 | €36,667 | €44,348 | +€7,681 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €18,556 | -€84,277 | -€102,833 | |
| Income taxes | 67/77 | €581 | -€581 | -€1,162 | |
| Profit (loss) for the period | 9904 | €17,975 | -€83,696 | -€101,671 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,975 | -€83,696 | -€101,671 |
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 17 October 2026 via checked.be.