QaOx: 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.
QaOx
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year +€131,048
up €131,048 (+25.8%), from €507,270 to €638,318
- Other debts -€78,584
down €78,584 (-28.1%), from €279,883 to €201,299
- Profit (loss) carried forward -€41,423
down €41,423 (-46.0%), from -€90,112 to -€131,534
- Gross operating margin +€48,156
up €48,156, from -€32,476 to €15,680
- Financial charges -€1,306
down €1,306 (-5.6%), from €23,437 to €22,130
- Other operating charges +€491
up €491 (+27.5%), from €1,786 to €2,278
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 | €852,968 | €866,168 | +€13,200 | +1.5% |
| Fixed assets | 21/28 | €839,994 | €846,140 | +€6,146 | +0.7% |
| Tangible fixed assets | 22/27 | €839,994 | €846,140 | +€6,146 | +0.7% |
| Land and buildings | 22 | €754,307 | €751,428 | -€2,879 | -0.4% |
| Plant, machinery and equipment | 23 | €12,086 | €29,324 | +€17,238 | +142.6% |
| Furniture and vehicles | 24 | €73,601 | €65,388 | -€8,213 | -11.2% |
| Current assets | 29/58 | €12,974 | €20,028 | +€7,053 | +54.4% |
| Amounts receivable within one year | 40/41 | €1,367 | €2,532 | +€1,165 | +85.3% |
| Other amounts receivable | 41 | €1,367 | €2,532 | +€1,165 | +85.3% |
| Cash at bank and in hand | 54/58 | €3,706 | €12,227 | +€8,521 | +229.9% |
| Deferred charges and accrued income | 490/1 | €7,902 | €5,269 | -€2,633 | -33.3% |
| Total equity and liabilities | 10/49 | €852,968 | €866,168 | +€13,200 | +1.5% |
| Equity | 10/15 | €44,888 | €3,466 | -€41,423 | -92.3% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,112 | -€131,534 | -€41,423 | -46.0% |
| Amounts payable | 17/49 | €808,080 | €862,702 | +€54,622 | +6.8% |
| Amounts payable after more than one year | 17 | €507,270 | €638,318 | +€131,048 | +25.8% |
| Financial debts | 170/4 | €507,270 | €638,318 | +€131,048 | +25.8% |
| Amounts payable within one year | 42/48 | €300,810 | €224,384 | -€76,425 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €18,167 | €18,952 | +€785 | +4.3% |
| Trade debts | 44 | €2,760 | €4,133 | +€1,373 | +49.8% |
| Suppliers | 440/4 | €2,760 | €4,133 | +€1,373 | +49.8% |
| Other amounts payable | 47/48 | €279,883 | €201,299 | -€78,584 | -28.1% |
| Non-recurring operating income | 76A | €3,258 | €22,685 | +€19,427 | +596.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,412 | €32,694 | +€282 | +0.9% |
| Other operating charges | 640/8 | €1,786 | €2,278 | +€491 | +27.5% |
| Gross operating margin | 9900 | -€32,476 | €15,680 | +€48,156 | |
| Operating profit (loss) | 9901 | -€66,675 | -€19,292 | +€47,383 | +71.1% |
| Financial charges | 65/66B | €23,437 | €22,130 | -€1,306 | -5.6% |
| Recurring financial charges | 65 | €23,437 | €22,130 | -€1,306 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€90,112 | -€41,423 | +€48,689 | +54.0% |
| Profit (loss) for the period | 9904 | -€90,112 | -€41,423 | +€48,689 | +54.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,112 | -€41,423 | +€48,689 | +54.0% |
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 30 September 2026 via checked.be.