QAtive: 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.
QAtive
Largest movements
- Cash -€53,600
down €53,600 (-13.0%), from €413,603 to €360,003
mainly Investment in fixed assets (net) (-€71,823) and Contributions, distributions and other (-€60,296)
- Tangible fixed assets +€50,429
up €50,429 (+31.4%), from €160,700 to €211,128
of which Furniture and vehicles: +€54,940
- Receivables within one year +€30,479
up €30,479 (+98.1%), from €31,063 to €61,542
of which Other amounts receivable: +€15,384
- Other debts -€50,094
down €50,094 (-37.8%), from €132,655 to €82,562
- Reserves +€45,777
up €45,777 (+10.3%), from €445,945 to €491,722
of which Distributable reserves: +€45,777
- Trade debts +€18,470
up €18,470 (+622%), from €2,971 to €21,441
- Tax, wage and social debts +€15,595
up €15,595 (+114%), from €13,705 to €29,300
of which Taxes: +€10,445
- Gross operating margin +€18,048
up €18,048 (+11.5%), from €156,358 to €174,406
- Taxes +€7,697
up €7,697 (+19.9%), from €38,694 to €46,391
- Write-downs -€4,791
down €4,791 (-100%), from €4,791 to €0
- Depreciation +€2,521
up €2,521 (+13.4%), from €18,874 to €21,395
- Financial income +€2,160
up €2,160 (+267%), from €808 to €2,968
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 | €608,373 | €637,991 | +€29,618 | +4.9% |
| Fixed assets | 21/28 | €160,700 | €211,128 | +€50,429 | +31.4% |
| Tangible fixed assets | 22/27 | €160,700 | €211,128 | +€50,429 | +31.4% |
| Land and buildings | 22 | €159,674 | €156,189 | -€3,486 | -2.2% |
| Plant, machinery and equipment | 23 | €1,025 | €0 | -€1,025 | -100% |
| Furniture and vehicles | 24 | - | €54,940 | +€54,940 | |
| Current assets | 29/58 | €447,673 | €426,863 | -€20,810 | -4.6% |
| Amounts receivable within one year | 40/41 | €31,063 | €61,542 | +€30,479 | +98.1% |
| Trade receivables | 40 | €31,054 | €46,149 | +€15,095 | +48.6% |
| Other amounts receivable | 41 | €9 | €15,393 | +€15,384 | +180,993% |
| Cash at bank and in hand | 54/58 | €413,603 | €360,003 | -€53,600 | -13.0% |
| Deferred charges and accrued income | 490/1 | €3,007 | €5,318 | +€2,311 | +76.9% |
| Total equity and liabilities | 10/49 | €608,373 | €637,991 | +€29,618 | +4.9% |
| Equity | 10/15 | €458,345 | €504,122 | +€45,777 | +10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €445,945 | €491,722 | +€45,777 | +10.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €444,085 | €489,862 | +€45,777 | +10.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €150,028 | €133,870 | -€16,158 | -10.8% |
| Amounts payable within one year | 42/48 | €150,028 | €133,870 | -€16,158 | -10.8% |
| Financial debts | 43 | €696 | €566 | -€130 | -18.7% |
| Credit institutions | 430/8 | €696 | €566 | -€130 | -18.7% |
| Trade debts | 44 | €2,971 | €21,441 | +€18,470 | +622% |
| Suppliers | 440/4 | €2,971 | €21,441 | +€18,470 | +622% |
| Taxes, remuneration and social security | 45 | €13,705 | €29,300 | +€15,595 | +114% |
| Taxes | 450/3 | €13,705 | €24,151 | +€10,445 | +76.2% |
| Remuneration and social security | 454/9 | - | €5,150 | +€5,150 | |
| Other amounts payable | 47/48 | €132,655 | €82,562 | -€50,094 | -37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,874 | €21,395 | +€2,521 | +13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,791 | €0 | -€4,791 | -100% |
| Other operating charges | 640/8 | €999 | €2,129 | +€1,130 | +113% |
| Gross operating margin | 9900 | €156,358 | €174,406 | +€18,048 | +11.5% |
| Operating profit (loss) | 9901 | €131,694 | €150,883 | +€19,188 | +14.6% |
| Financial income | 75/76B | €808 | €2,968 | +€2,160 | +267% |
| Recurring financial income | 75 | €808 | €2,968 | +€2,160 | +267% |
| Financial charges | 65/66B | €548 | €1,386 | +€838 | +153% |
| Recurring financial charges | 65 | €548 | €1,386 | +€838 | +153% |
| Profit (loss) for the period before taxes | 9903 | €131,954 | €152,464 | +€20,510 | +15.5% |
| Income taxes | 67/77 | €38,694 | €46,391 | +€7,697 | +19.9% |
| Profit (loss) for the period | 9904 | €93,260 | €106,073 | +€12,813 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,260 | €106,073 | +€12,813 | +13.7% |
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 14 October 2026 via checked.be.