Qazar: 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.
Qazar
Largest movements
- Receivables within one year +€17,641
up €17,641 (+366.3%), from €4,816 to €22,457
of which Trade receivables: +€22,061
- Cash -€7,448
down €7,448 (-23.4%), from €31,790 to €24,342
mainly Contributions, distributions and other (-€36,974) and Receivables within one year (-€17,641)
- Tangible fixed assets -€3,954
down €3,954 (-25.6%), from €15,460 to €11,506
- Other debts +€37,628
up €37,628 (+31537.9%), from €119 to €37,747
- Reserves -€16,870
down €16,870 (-100.0%), from €16,870 to €0
- Profit (loss) carried forward -€16,452
down €16,452 (-100.0%), from €16,452 to €0
- Tax, wage and social debts +€6,737
up €6,737 (+119.2%), from €5,650 to €12,387
of which Taxes: +€6,737
- Debts after one year -€5,112
down €5,112 (-85.4%), from €5,986 to €874
- Gross operating margin +€9,825
up €9,825 (+3360.8%), from €292 to €10,118
- Taxes -€7,146
down €7,146 (-81.7%), from €8,750 to €1,604
- Other operating charges -€675
down €675 (-63.5%), from €1,064 to €389
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 | €52,722 | €59,092 | +€6,370 | +12.1% |
| Fixed assets | 21/28 | €15,460 | €11,506 | -€3,954 | -25.6% |
| Tangible fixed assets | 22/27 | €15,460 | €11,506 | -€3,954 | -25.6% |
| Furniture and vehicles | 24 | €15,460 | €11,506 | -€3,954 | -25.6% |
| Current assets | 29/58 | €37,262 | €47,586 | +€10,324 | +27.7% |
| Amounts receivable within one year | 40/41 | €4,816 | €22,457 | +€17,641 | +366.3% |
| Trade receivables | 40 | €0 | €22,061 | +€22,061 | |
| Other amounts receivable | 41 | €4,816 | €396 | -€4,420 | -91.8% |
| Cash at bank and in hand | 54/58 | €31,790 | €24,342 | -€7,448 | -23.4% |
| Deferred charges and accrued income | 490/1 | €656 | €787 | +€131 | +20.0% |
| Total equity and liabilities | 10/49 | €52,722 | €59,092 | +€6,370 | +12.1% |
| Equity | 10/15 | €35,822 | €2,500 | -€33,322 | -93.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €16,870 | €0 | -€16,870 | -100.0% |
| Distributable reserves | 133 | €16,870 | €0 | -€16,870 | -100.0% |
| Profit (loss) carried forward | 14 | €16,452 | €0 | -€16,452 | -100.0% |
| Amounts payable | 17/49 | €16,900 | €56,592 | +€39,692 | +234.9% |
| Amounts payable after more than one year | 17 | €5,986 | €874 | -€5,112 | -85.4% |
| Financial debts | 170/4 | €5,986 | €874 | -€5,112 | -85.4% |
| Amounts payable within one year | 42/48 | €10,914 | €55,718 | +€44,804 | +410.5% |
| Current portion of amounts payable after more than one year | 42 | €4,892 | €5,112 | +€220 | +4.5% |
| Trade debts | 44 | €253 | €471 | +€219 | +86.6% |
| Suppliers | 440/4 | €253 | €471 | +€219 | +86.6% |
| Taxes, remuneration and social security | 45 | €5,650 | €12,387 | +€6,737 | +119.2% |
| Taxes | 450/3 | €3,300 | €10,037 | +€6,737 | +204.1% |
| Remuneration and social security | 454/9 | €2,350 | €2,350 | = | 0.0% |
| Other amounts payable | 47/48 | €119 | €37,747 | +€37,628 | +31537.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,941 | €3,954 | +€13 | +0.3% |
| Other operating charges | 640/8 | €1,064 | €389 | -€675 | -63.5% |
| Gross operating margin | 9900 | €292 | €10,118 | +€9,825 | +3360.8% |
| Operating profit (loss) | 9901 | -€4,712 | €5,775 | +€10,487 | |
| Financial charges | 65/66B | €554 | €518 | -€36 | -6.5% |
| Recurring financial charges | 65 | €554 | €518 | -€36 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,267 | €5,256 | +€10,523 | |
| Income taxes | 67/77 | €8,750 | €1,604 | -€7,146 | -81.7% |
| Profit (loss) for the period | 9904 | -€14,017 | €3,652 | +€17,669 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,017 | €3,652 | +€17,669 |
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 10 October 2026 via checked.be.