QBA: 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.
QBA
Largest movements
- Cash -€14,600
down €14,600 (-49.3%), from €29,638 to €15,038
mainly Investment in fixed assets (net) (-€17,589) and Stocks and contracts (-€8,329)
- Tangible fixed assets +€11,269
up €11,269 (+62.2%), from €18,127 to €29,396
of which Plant, machinery and equipment: +€9,734
- Stocks and contracts +€8,329
up €8,329 (+124.3%), from €6,699 to €15,028
- Profit (loss) carried forward +€10,363
up €10,363 (+26.8%), from €38,678 to €49,041
- Trade debts -€4,237
down €4,237 (-78.1%), from €5,423 to €1,186
- Tax, wage and social debts -€2,381
no longer reported in 2025 (was €2,381)
of which Remuneration and social security: -€1,900
- Other debts +€1,982
up €1,982 (+11.5%), from €17,255 to €19,237
- Purchases and services +€27,387
up €27,387 (+29.8%), from €92,003 to €119,390
- Turnover +€16,435
up €16,435 (+14.2%), from €116,078 to €132,513
- Gross operating margin -€10,992
down €10,992 (-36.0%), from €30,522 to €19,530
- Taxes -€3,204
down €3,204 (-55.6%), from €5,760 to €2,556
- Depreciation +€2,437
up €2,437 (+66.6%), from €3,658 to €6,095
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 | €73,857 | €79,464 | +€5,607 | +7.6% |
| Fixed assets | 21/28 | €18,327 | €29,821 | +€11,494 | +62.7% |
| Tangible fixed assets | 22/27 | €18,127 | €29,396 | +€11,269 | +62.2% |
| Plant, machinery and equipment | 23 | €18,127 | €27,861 | +€9,734 | +53.7% |
| Furniture and vehicles | 24 | - | €1,535 | +€1,535 | |
| Financial fixed assets | 28 | €200 | €425 | +€225 | +112.5% |
| Current assets | 29/58 | €55,530 | €49,643 | -€5,887 | -10.6% |
| Stocks and contracts in progress | 3 | €6,699 | €15,028 | +€8,329 | +124.3% |
| Stocks | 30/36 | €6,699 | €15,028 | +€8,329 | +124.3% |
| Amounts receivable within one year | 40/41 | €19,193 | €19,577 | +€384 | +2.0% |
| Trade receivables | 40 | €17,683 | €16,118 | -€1,565 | -8.9% |
| Other amounts receivable | 41 | €1,510 | €3,459 | +€1,949 | +129.1% |
| Cash at bank and in hand | 54/58 | €29,638 | €15,038 | -€14,600 | -49.3% |
| Total equity and liabilities | 10/49 | €73,857 | €79,464 | +€5,607 | +7.6% |
| Equity | 10/15 | €48,678 | €59,041 | +€10,363 | +21.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,678 | €49,041 | +€10,363 | +26.8% |
| Amounts payable | 17/49 | €25,179 | €20,423 | -€4,756 | -18.9% |
| Amounts payable within one year | 42/48 | €25,179 | €20,423 | -€4,756 | -18.9% |
| Trade debts | 44 | €5,423 | €1,186 | -€4,237 | -78.1% |
| Suppliers | 440/4 | €5,423 | €1,186 | -€4,237 | -78.1% |
| Advances received on contracts in progress | 46 | €120 | - | -€120 | |
| Taxes, remuneration and social security | 45 | €2,381 | - | -€2,381 | |
| Taxes | 450/3 | €481 | - | -€481 | |
| Remuneration and social security | 454/9 | €1,900 | - | -€1,900 | |
| Other amounts payable | 47/48 | €17,255 | €19,237 | +€1,982 | +11.5% |
| Turnover | 70 | €116,078 | €132,513 | +€16,435 | +14.2% |
| Non-recurring operating income | 76A | €6,447 | €6,244 | -€203 | -3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €92,003 | €119,390 | +€27,387 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,658 | €6,095 | +€2,437 | +66.6% |
| Other operating charges | 640/8 | €109 | €539 | +€430 | +394.5% |
| Gross operating margin | 9900 | €30,522 | €19,530 | -€10,992 | -36.0% |
| Operating profit (loss) | 9901 | €26,755 | €12,896 | -€13,859 | -51.8% |
| Financial income | 75/76B | €271 | €119 | -€152 | -56.1% |
| Recurring financial income | 75 | €271 | €119 | -€152 | -56.1% |
| Financial charges | 65/66B | €80 | €96 | +€16 | +20.0% |
| Recurring financial charges | 65 | €80 | €96 | +€16 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €26,946 | €12,919 | -€14,027 | -52.1% |
| Income taxes | 67/77 | €5,760 | €2,556 | -€3,204 | -55.6% |
| Profit (loss) for the period | 9904 | €21,186 | €10,363 | -€10,823 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,186 | €10,363 | -€10,823 | -51.1% |
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.