QALLO: 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.
QALLO
Largest movements
- Stocks and contracts +€940,839
up €940,839 (+2266.1%), from €41,518 to €982,357
- Cash +€37,230
up €37,230 (+46.8%), from €79,542 to €116,772
mainly Short-term financial debts (+€569,003) and Net result for the year (+€407,209)
- Receivables within one year +€24,010
up €24,010 (+33.0%), from €72,689 to €96,700
of which Other amounts receivable: +€13,097
- Deferred charges and accrued income +€22,047
up €22,047 (+480.6%), from €4,588 to €26,635
- Short-term financial debts +€569,003
new in 2025: €569,003
- Profit (loss) carried forward +€407,209
up €407,209 (+15.9%), from -€2.6m to -€2.1m
- Trade debts +€140,248
up €140,248 (+202.4%), from €69,293 to €209,542
- Debts after one year -€67,106
down €67,106 (-9.6%), from €700,707 to €633,601
- Accrued charges and deferred income -€13,306
down €13,306 (-72.7%), from €18,306 to €5,000
- Gross operating margin +€1.0m
up €1.0m, from -€399,896 to €627,060
- Financial charges +€72,253
up €72,253 (+100.0%), from €72,284 to €144,537
- Staff costs +€12,116
up €12,116 (+23.3%), from €52,053 to €64,169
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 | €216,132 | €1,240,870 | +€1.0m | +474.1% |
| Fixed assets | 21/28 | €17,795 | €18,406 | +€610 | +3.4% |
| Intangible fixed assets | 21 | €1,190 | €78 | -€1,112 | -93.4% |
| Tangible fixed assets | 22/27 | €12,348 | €14,071 | +€1,723 | +13.9% |
| Plant, machinery and equipment | 23 | €5,182 | €5,617 | +€435 | +8.4% |
| Furniture and vehicles | 24 | €2,420 | €4,464 | +€2,044 | +84.5% |
| Other tangible fixed assets | 26 | €4,746 | €3,990 | -€756 | -15.9% |
| Financial fixed assets | 28 | €4,257 | €4,257 | = | 0.0% |
| Current assets | 29/58 | €198,337 | €1,222,464 | +€1.0m | +516.4% |
| Stocks and contracts in progress | 3 | €41,518 | €982,357 | +€940,839 | +2266.1% |
| Stocks | 30/36 | €41,518 | €982,357 | +€940,839 | +2266.1% |
| Amounts receivable within one year | 40/41 | €72,689 | €96,700 | +€24,010 | +33.0% |
| Trade receivables | 40 | €53,575 | €64,488 | +€10,913 | +20.4% |
| Other amounts receivable | 41 | €19,115 | €32,212 | +€13,097 | +68.5% |
| Cash at bank and in hand | 54/58 | €79,542 | €116,772 | +€37,230 | +46.8% |
| Deferred charges and accrued income | 490/1 | €4,588 | €26,635 | +€22,047 | +480.6% |
| Total equity and liabilities | 10/49 | €216,132 | €1,240,870 | +€1.0m | +474.1% |
| Equity | 10/15 | -€737,499 | -€330,290 | +€407,209 | +55.2% |
| Contributions | 10/11 | €1,815,900 | €1,815,900 | = | 0.0% |
| Capital | 10 | €212,970 | €212,970 | = | 0.0% |
| Issued capital | 100 | €212,970 | €212,970 | = | 0.0% |
| Contributions outside capital | 11 | €1,602,930 | €1,602,930 | = | 0.0% |
| Share premium | 1100/10 | €1,602,930 | €1,602,930 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,553,399 | -€2,146,190 | +€407,209 | +15.9% |
| Amounts payable | 17/49 | €953,631 | €1,571,160 | +€617,529 | +64.8% |
| Amounts payable after more than one year | 17 | €700,707 | €633,601 | -€67,106 | -9.6% |
| Financial debts | 170/4 | €700,707 | €633,601 | -€67,106 | -9.6% |
| Amounts payable within one year | 42/48 | €234,619 | €932,559 | +€697,941 | +297.5% |
| Current portion of amounts payable after more than one year | 42 | €140,118 | €128,613 | -€11,505 | -8.2% |
| Financial debts | 43 | - | €569,003 | +€569,003 | |
| Other loans | 439 | - | €569,003 | +€569,003 | |
| Trade debts | 44 | €69,293 | €209,542 | +€140,248 | +202.4% |
| Suppliers | 440/4 | €69,293 | €209,542 | +€140,248 | +202.4% |
| Taxes, remuneration and social security | 45 | €7,909 | €8,378 | +€470 | +5.9% |
| Taxes | 450/3 | €2,358 | €1,666 | -€692 | -29.4% |
| Remuneration and social security | 454/9 | €5,551 | €6,713 | +€1,162 | +20.9% |
| Other amounts payable | 47/48 | €17,299 | €17,023 | -€276 | -1.6% |
| Accrued charges and deferred income | 492/3 | €18,306 | €5,000 | -€13,306 | -72.7% |
| Remuneration, social security and pensions | 62 | €52,053 | €64,169 | +€12,116 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,228 | €7,460 | +€1,232 | +19.8% |
| Other operating charges | 640/8 | €1,002 | €3,529 | +€2,527 | +252.2% |
| Non-recurring operating charges | 66A | €274 | - | -€274 | |
| Gross operating margin | 9900 | -€399,896 | €627,060 | +€1.0m | |
| Operating profit (loss) | 9901 | -€459,452 | €551,902 | +€1.0m | |
| Financial income | 75/76B | €36 | €36 | +€0 | +1.4% |
| Recurring financial income | 75 | €36 | €36 | +€0 | +1.4% |
| Financial charges | 65/66B | €72,284 | €144,537 | +€72,253 | +100.0% |
| Recurring financial charges | 65 | €72,284 | €144,537 | +€72,253 | +100.0% |
| Profit (loss) for the period before taxes | 9903 | -€531,700 | €407,402 | +€939,102 | |
| Income taxes | 67/77 | €183 | €193 | +€10 | +5.2% |
| Profit (loss) for the period | 9904 | -€531,883 | €407,209 | +€939,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€531,883 | €407,209 | +€939,092 |
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 11 October 2026 via checked.be.