QCII: 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.
QCII
Largest movements
- Stocks and contracts +€181,346
up €181,346 (+9.1%), from €2.0m to €2.2m
- Receivables after one year +€27,143
up €27,143 (+9.9%), from €274,205 to €301,347
- Debts after one year +€198,717
up €198,717 (+17.6%), from €1.1m to €1.3m
of which Financial debts: +€192,717
- Profit (loss) carried forward +€79,246
up €79,246 (+47.4%), from -€167,310 to -€88,064
- Trade debts -€55,687
down €55,687 (-58.0%), from €95,985 to €40,298
- Gross operating margin +€177,948
up €177,948, from -€93,061 to €84,886
- Other operating charges -€21,848
down €21,848 (-88.9%), from €24,582 to €2,733
- Financial income -€6,825
down €6,825 (-100.0%), from €6,825 to €0
- Financial charges -€959
down €959 (-24.8%), from €3,866 to €2,907
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 | €2,276,178 | €2,497,615 | +€221,437 | +9.7% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €2,276,178 | €2,497,615 | +€221,437 | +9.7% |
| Amounts receivable after more than one year | 29 | €274,205 | €301,347 | +€27,143 | +9.9% |
| Other amounts receivable | 291 | €274,205 | €301,347 | +€27,143 | +9.9% |
| Stocks and contracts in progress | 3 | €1,991,978 | €2,173,324 | +€181,346 | +9.1% |
| Stocks | 30/36 | €1,991,978 | €2,173,324 | +€181,346 | +9.1% |
| Amounts receivable within one year | 40/41 | €4,331 | €19,918 | +€15,587 | +359.9% |
| Trade receivables | 40 | €4,331 | €19,918 | +€15,587 | +359.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,665 | €3,026 | -€2,639 | -46.6% |
| Total equity and liabilities | 10/49 | €2,276,178 | €2,497,615 | +€221,437 | +9.7% |
| Equity | 10/15 | €1,041,150 | €1,120,396 | +€79,246 | +7.6% |
| Contributions | 10/11 | €1,206,600 | €1,206,600 | = | 0.0% |
| Capital | 10 | €1,206,600 | €1,206,600 | = | 0.0% |
| Issued capital | 100 | €1,206,600 | €1,206,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,310 | -€88,064 | +€79,246 | +47.4% |
| Amounts payable | 17/49 | €1,235,028 | €1,377,219 | +€142,191 | +11.5% |
| Amounts payable after more than one year | 17 | €1,130,330 | €1,329,047 | +€198,717 | +17.6% |
| Financial debts | 170/4 | €1,130,330 | €1,323,047 | +€192,717 | +17.0% |
| Other amounts payable | 178/9 | - | €6,000 | +€6,000 | |
| Amounts payable within one year | 42/48 | €102,864 | €48,138 | -€54,726 | -53.2% |
| Current portion of amounts payable after more than one year | 42 | €6,878 | €7,283 | +€405 | +5.9% |
| Financial debts | 43 | - | €56 | +€56 | |
| Credit institutions | 430/8 | - | €56 | +€56 | |
| Trade debts | 44 | €95,985 | €40,298 | -€55,687 | -58.0% |
| Suppliers | 440/4 | €95,985 | €40,298 | -€55,687 | -58.0% |
| Other amounts payable | 47/48 | - | €500 | +€500 | |
| Accrued charges and deferred income | 492/3 | €1,835 | €35 | -€1,800 | -98.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €24,582 | €2,733 | -€21,848 | -88.9% |
| Gross operating margin | 9900 | -€93,061 | €84,886 | +€177,948 | |
| Operating profit (loss) | 9901 | -€117,643 | €82,153 | +€199,796 | |
| Financial income | 75/76B | €6,825 | €0 | -€6,825 | -100.0% |
| Recurring financial income | 75 | €6,825 | €0 | -€6,825 | -100.0% |
| Financial charges | 65/66B | €3,866 | €2,907 | -€959 | -24.8% |
| Recurring financial charges | 65 | €3,866 | €2,907 | -€959 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | -€114,683 | €79,246 | +€193,930 | |
| Profit (loss) for the period | 9904 | -€114,683 | €79,246 | +€193,930 | |
| Profit (loss) for the period to be appropriated | 9905 | -€114,683 | €79,246 | +€193,930 |
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 3 October 2026 via checked.be.