QBL CONSTRUCT: 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.
QBL CONSTRUCT
Largest movements
- Tangible fixed assets -€12,004
down €12,004 (-19.5%), from €61,502 to €49,499
of which Furniture and vehicles: -€13,945
- Receivables within one year -€9,110
down €9,110 (-82.7%), from €11,021 to €1,911
of which Trade receivables: -€5,900
- Cash +€1,338
up €1,338 (+14.4%), from €9,281 to €10,619
mainly Depreciation (+€20,071) and Receivables within one year (+€9,110)
- Deferred charges and accrued income +€861
up €861 (+112.2%), from €768 to €1,629
- Debts after one year -€11,175
down €11,175 (-35.7%), from €31,337 to €20,163
- Profit (loss) carried forward -€9,259
new in 2025: -€9,259
- Tax, wage and social debts +€1,106
up €1,106 (+10.2%), from €10,878 to €11,984
of which Remuneration and social security: +€1,194
- Other debts -€934
down €934 (-28.6%), from €3,260 to €2,326
- Gross operating margin -€31,521
down €31,521 (-58.7%), from €53,671 to €22,149
- Taxes -€7,661
down €7,661 (-95.1%), from €8,058 to €397
- Other operating charges -€6,786
down €6,786 (-81.6%), from €8,317 to €1,530
- Staff costs +€6,383
new in 2025: €6,383
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 | €82,572 | €63,657 | -€18,915 | -22.9% |
| Fixed assets | 21/28 | €61,502 | €49,499 | -€12,004 | -19.5% |
| Tangible fixed assets | 22/27 | €61,502 | €49,499 | -€12,004 | -19.5% |
| Plant, machinery and equipment | 23 | €10,668 | €12,610 | +€1,942 | +18.2% |
| Furniture and vehicles | 24 | €50,834 | €36,889 | -€13,945 | -27.4% |
| Current assets | 29/58 | €21,070 | €14,159 | -€6,911 | -32.8% |
| Amounts receivable within one year | 40/41 | €11,021 | €1,911 | -€9,110 | -82.7% |
| Trade receivables | 40 | €5,953 | €53 | -€5,900 | -99.1% |
| Other amounts receivable | 41 | €5,068 | €1,858 | -€3,210 | -63.3% |
| Cash at bank and in hand | 54/58 | €9,281 | €10,619 | +€1,338 | +14.4% |
| Deferred charges and accrued income | 490/1 | €768 | €1,629 | +€861 | +112.2% |
| Total equity and liabilities | 10/49 | €82,572 | €63,657 | -€18,915 | -22.9% |
| Equity | 10/15 | €18,133 | €8,874 | -€9,259 | -51.1% |
| Contributions | 10/11 | €3,200 | €3,200 | = | 0.0% |
| Reserves | 13 | €14,933 | €14,933 | = | 0.0% |
| Distributable reserves | 133 | €14,933 | €14,933 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,259 | -€9,259 | |
| Amounts payable | 17/49 | €64,439 | €54,784 | -€9,656 | -15.0% |
| Amounts payable after more than one year | 17 | €31,337 | €20,163 | -€11,175 | -35.7% |
| Financial debts | 170/4 | €31,337 | €20,163 | -€11,175 | -35.7% |
| Amounts payable within one year | 42/48 | €33,102 | €34,008 | +€906 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €10,521 | €11,175 | +€654 | +6.2% |
| Trade debts | 44 | €8,443 | €8,523 | +€80 | +0.9% |
| Suppliers | 440/4 | €8,443 | €8,523 | +€80 | +0.9% |
| Taxes, remuneration and social security | 45 | €10,878 | €11,984 | +€1,106 | +10.2% |
| Taxes | 450/3 | €9,058 | €8,970 | -€88 | -1.0% |
| Remuneration and social security | 454/9 | €1,820 | €3,014 | +€1,194 | +65.6% |
| Other amounts payable | 47/48 | €3,260 | €2,326 | -€934 | -28.6% |
| Accrued charges and deferred income | 492/3 | - | €613 | +€613 | |
| Remuneration, social security and pensions | 62 | - | €6,383 | +€6,383 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,625 | €20,071 | +€446 | +2.3% |
| Other operating charges | 640/8 | €8,317 | €1,530 | -€6,786 | -81.6% |
| Gross operating margin | 9900 | €53,671 | €22,149 | -€31,521 | -58.7% |
| Operating profit (loss) | 9901 | €25,729 | -€5,835 | -€31,564 | |
| Financial income | 75/76B | €64 | €30 | -€33 | -52.3% |
| Recurring financial income | 75 | €64 | €30 | -€33 | -52.3% |
| Financial charges | 65/66B | €2,802 | €3,058 | +€256 | +9.2% |
| Recurring financial charges | 65 | €2,802 | €3,058 | +€256 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €22,991 | -€8,863 | -€31,854 | |
| Income taxes | 67/77 | €8,058 | €397 | -€7,661 | -95.1% |
| Profit (loss) for the period | 9904 | €14,933 | -€9,259 | -€24,192 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,933 | -€9,259 | -€24,192 |
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 28 September 2026 via checked.be.