QB-One: 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.
QB-One
Largest movements
- Tangible fixed assets +€334,567
up €334,567 (+80.5%), from €415,690 to €750,257
of which Land and buildings: +€321,123
- Cash -€8,918
down €8,918 (-57.4%), from €15,527 to €6,609
mainly Investment in fixed assets (net) (-€359,974) and Receivables within one year (-€3,338)
- Debts after one year +€287,019
up €287,019 (+96.7%), from €296,662 to €583,681
of which Financial debts: +€182,019
- Other debts +€17,426
new in 2025: €17,426
- Current portion of long-term debt +€12,446
up €12,446 (+37.1%), from €33,577 to €46,023
- Depreciation +€14,163
up €14,163 (+126.0%), from €11,244 to €25,407
- Gross operating margin -€11,611
down €11,611 (-19.4%), from €59,937 to €48,326
- Taxes -€9,435
down €9,435 (-73.0%), from €12,933 to €3,498
- Financial charges +€1,650
up €1,650 (+33.1%), from €4,992 to €6,642
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 | €431,783 | €760,770 | +€328,987 | +76.2% |
| Fixed assets | 21/28 | €415,690 | €750,257 | +€334,567 | +80.5% |
| Tangible fixed assets | 22/27 | €415,690 | €750,257 | +€334,567 | +80.5% |
| Land and buildings | 22 | €415,690 | €736,813 | +€321,123 | +77.3% |
| Plant, machinery and equipment | 23 | - | €2,414 | +€2,414 | |
| Assets under construction and advance payments | 27 | - | €11,030 | +€11,030 | |
| Current assets | 29/58 | €16,093 | €10,513 | -€5,580 | -34.7% |
| Amounts receivable within one year | 40/41 | €566 | €3,904 | +€3,338 | +589.8% |
| Trade receivables | 40 | €379 | €1,308 | +€929 | +245.1% |
| Other amounts receivable | 41 | €187 | €2,596 | +€2,409 | +1288.2% |
| Cash at bank and in hand | 54/58 | €15,527 | €6,609 | -€8,918 | -57.4% |
| Total equity and liabilities | 10/49 | €431,783 | €760,770 | +€328,987 | +76.2% |
| Equity | 10/15 | €88,143 | €95,240 | +€7,097 | +8.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,943 | €89,040 | +€7,097 | +8.7% |
| Distributable reserves | 133 | €81,943 | €89,040 | +€7,097 | +8.7% |
| Amounts payable | 17/49 | €343,640 | €665,530 | +€321,890 | +93.7% |
| Amounts payable after more than one year | 17 | €296,662 | €583,681 | +€287,019 | +96.7% |
| Financial debts | 170/4 | €296,662 | €478,681 | +€182,019 | +61.4% |
| Other amounts payable | 178/9 | - | €105,000 | +€105,000 | |
| Amounts payable within one year | 42/48 | €46,978 | €81,031 | +€34,053 | +72.5% |
| Current portion of amounts payable after more than one year | 42 | €33,577 | €46,023 | +€12,446 | +37.1% |
| Trade debts | 44 | €468 | €977 | +€509 | +108.8% |
| Suppliers | 440/4 | €468 | €977 | +€509 | +108.8% |
| Taxes, remuneration and social security | 45 | €12,933 | €16,605 | +€3,672 | +28.4% |
| Taxes | 450/3 | €12,933 | €16,605 | +€3,672 | +28.4% |
| Other amounts payable | 47/48 | - | €17,426 | +€17,426 | |
| Accrued charges and deferred income | 492/3 | - | €818 | +€818 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,244 | €25,407 | +€14,163 | +126.0% |
| Other operating charges | 640/8 | €5,510 | €5,682 | +€172 | +3.1% |
| Gross operating margin | 9900 | €59,937 | €48,326 | -€11,611 | -19.4% |
| Operating profit (loss) | 9901 | €43,183 | €17,237 | -€25,946 | -60.1% |
| Financial charges | 65/66B | €4,992 | €6,642 | +€1,650 | +33.1% |
| Recurring financial charges | 65 | €4,992 | €6,642 | +€1,650 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €38,191 | €10,595 | -€27,596 | -72.3% |
| Income taxes | 67/77 | €12,933 | €3,498 | -€9,435 | -73.0% |
| Profit (loss) for the period | 9904 | €25,258 | €7,097 | -€18,161 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,258 | €7,097 | -€18,161 | -71.9% |
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 12 October 2026 via checked.be.