QBUILD: 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.
QBUILD
Largest movements
- Receivables within one year -€189,767
down €189,767 (-65.5%), from €289,887 to €100,120
- Cash +€12,561
up €12,561 (+44.1%), from €28,450 to €41,011
mainly Contributions, distributions and other (+€285,000) and Receivables within one year (+€189,767)
- Tangible fixed assets -€10,094
down €10,094 (-96.4%), from €10,472 to €378
of which Other tangible fixed assets: -€9,149
- Formation expenses +€3,352
up €3,352 (+795.2%), from €421 to €3,773
- Contributions +€285,000
up €285,000 (+950.0%), from €30,000 to €315,000
- Other debts -€275,998
no longer reported in 2025 (was €275,998)
- Trade debts -€189,397
down €189,397 (-72.5%), from €261,112 to €71,715
- Profit (loss) carried forward -€16,938
down €16,938 (-6.3%), from -€269,049 to -€285,987
- Tax, wage and social debts +€15,039
up €15,039 (+45.7%), from €32,916 to €47,955
of which Remuneration and social security: +€9,309
- Gross operating margin +€118,385
up €118,385 (+615.4%), from €19,236 to €137,621
- Other operating charges +€7,404
up €7,404 (+241.9%), from €3,061 to €10,465
- Financial charges -€5,971
down €5,971 (-71.9%), from €8,310 to €2,339
- Staff costs +€4,702
up €4,702 (+3.5%), from €134,576 to €139,278
- Depreciation -€3,867
down €3,867 (-67.3%), from €5,749 to €1,882
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 | €334,497 | €151,753 | -€182,744 | -54.6% |
| Formation expenses | 20 | €421 | €3,773 | +€3,352 | +795.2% |
| Fixed assets | 21/28 | €11,067 | €741 | -€10,326 | -93.3% |
| Intangible fixed assets | 21 | €231 | €0 | -€231 | -100.0% |
| Tangible fixed assets | 22/27 | €10,472 | €378 | -€10,094 | -96.4% |
| Furniture and vehicles | 24 | €1,324 | €378 | -€946 | -71.4% |
| Other tangible fixed assets | 26 | €9,149 | - | -€9,149 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €323,009 | €147,239 | -€175,770 | -54.4% |
| Amounts receivable within one year | 40/41 | €289,887 | €100,120 | -€189,767 | -65.5% |
| Trade receivables | 40 | €289,887 | €100,120 | -€189,767 | -65.5% |
| Cash at bank and in hand | 54/58 | €28,450 | €41,011 | +€12,561 | +44.1% |
| Deferred charges and accrued income | 490/1 | €4,671 | €6,108 | +€1,437 | +30.8% |
| Total equity and liabilities | 10/49 | €334,497 | €151,753 | -€182,744 | -54.6% |
| Equity | 10/15 | -€239,049 | €29,013 | +€268,062 | |
| Contributions | 10/11 | €30,000 | €315,000 | +€285,000 | +950.0% |
| Profit (loss) carried forward | 14 | -€269,049 | -€285,987 | -€16,938 | -6.3% |
| Amounts payable | 17/49 | €573,546 | €122,740 | -€450,806 | -78.6% |
| Amounts payable within one year | 42/48 | €570,026 | €119,670 | -€450,356 | -79.0% |
| Trade debts | 44 | €261,112 | €71,715 | -€189,397 | -72.5% |
| Suppliers | 440/4 | €261,112 | €71,715 | -€189,397 | -72.5% |
| Taxes, remuneration and social security | 45 | €32,916 | €47,955 | +€15,039 | +45.7% |
| Taxes | 450/3 | €16,348 | €22,078 | +€5,730 | +35.0% |
| Remuneration and social security | 454/9 | €16,568 | €25,877 | +€9,309 | +56.2% |
| Other amounts payable | 47/48 | €275,998 | - | -€275,998 | |
| Accrued charges and deferred income | 492/3 | €3,520 | €3,070 | -€450 | -12.8% |
| Remuneration, social security and pensions | 62 | €134,576 | €139,278 | +€4,702 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,749 | €1,882 | -€3,867 | -67.3% |
| Other operating charges | 640/8 | €3,061 | €10,465 | +€7,404 | +241.9% |
| Non-recurring operating charges | 66A | - | €235 | +€235 | |
| Gross operating margin | 9900 | €19,236 | €137,621 | +€118,385 | +615.4% |
| Operating profit (loss) | 9901 | -€124,150 | -€14,239 | +€109,911 | +88.5% |
| Financial charges | 65/66B | €8,310 | €2,339 | -€5,971 | -71.9% |
| Recurring financial charges | 65 | €8,310 | €2,339 | -€5,971 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | -€132,460 | -€16,578 | +€115,882 | +87.5% |
| Income taxes | 67/77 | €372 | €360 | -€12 | -3.2% |
| Profit (loss) for the period | 9904 | -€132,832 | -€16,938 | +€115,894 | +87.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,832 | -€16,938 | +€115,894 | +87.2% |
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.