QCO Management: 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.
QCO Management
Largest movements
- Cash +€47,950
up €47,950 (+145%), from €33,026 to €80,976
mainly Net result for the year (+€58,126) and Deferred charges and accrued income (+€7,419)
- Receivables within one year +€13,180
up €13,180 (+90.6%), from €14,550 to €27,730
of which Trade receivables: +€12,041
- Tangible fixed assets +€10,028
up €10,028 (+212%), from €4,734 to €14,762
of which Furniture and vehicles: +€8,395
- Deferred charges and accrued income -€7,419
down €7,419 (-97.4%), from €7,616 to €197
- Reserves +€56,460
up €56,460 (+141%), from €39,984 to €96,444
- Tax, wage and social debts +€5,999
up €5,999 (+88.2%), from €6,805 to €12,804
- Short-term financial debts +€3,454
up €3,454 (+460%), from €750 to €4,205
- Other debts -€3,428
down €3,428 (-62.2%), from €5,513 to €2,085
- Trade debts +€1,276
up €1,276 (+75.1%), from €1,701 to €2,977
- Gross operating margin +€38,589
up €38,589 (+90.5%), from €42,642 to €81,230
- Taxes +€8,671
up €8,671 (+106%), from €8,167 to €16,838
- Depreciation +€1,101
up €1,101 (+141%), from €780 to €1,880
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.
Derived cash bridge
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 | €59,926 | €123,665 | +€63,739 | +106% |
| Fixed assets | 21/28 | €4,734 | €14,762 | +€10,028 | +212% |
| Tangible fixed assets | 22/27 | €4,734 | €14,762 | +€10,028 | +212% |
| Plant, machinery and equipment | 23 | €2,600 | €2,331 | -€269 | -10.3% |
| Furniture and vehicles | 24 | €2,134 | €10,529 | +€8,395 | +393% |
| Other tangible fixed assets | 26 | - | €1,902 | +€1,902 | |
| Current assets | 29/58 | €55,192 | €108,903 | +€53,711 | +97.3% |
| Amounts receivable within one year | 40/41 | €14,550 | €27,730 | +€13,180 | +90.6% |
| Trade receivables | 40 | €14,520 | €26,561 | +€12,041 | +82.9% |
| Other amounts receivable | 41 | €30 | €1,169 | +€1,139 | +3,773% |
| Cash at bank and in hand | 54/58 | €33,026 | €80,976 | +€47,950 | +145% |
| Deferred charges and accrued income | 490/1 | €7,616 | €197 | -€7,419 | -97.4% |
| Total equity and liabilities | 10/49 | €59,926 | €123,665 | +€63,739 | +106% |
| Equity | 10/15 | €44,984 | €101,444 | +€56,460 | +126% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,984 | €96,444 | +€56,460 | +141% |
| Distributable reserves | 133 | €39,984 | €96,444 | +€56,460 | +141% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,942 | €22,221 | +€7,278 | +48.7% |
| Amounts payable within one year | 42/48 | €14,769 | €22,071 | +€7,302 | +49.4% |
| Financial debts | 43 | €750 | €4,205 | +€3,454 | +460% |
| Credit institutions | 430/8 | €750 | €4,205 | +€3,454 | +460% |
| Trade debts | 44 | €1,701 | €2,977 | +€1,276 | +75.1% |
| Suppliers | 440/4 | €1,701 | €2,977 | +€1,276 | +75.1% |
| Taxes, remuneration and social security | 45 | €6,805 | €12,804 | +€5,999 | +88.2% |
| Taxes | 450/3 | €6,805 | €12,804 | +€5,999 | +88.2% |
| Other amounts payable | 47/48 | €5,513 | €2,085 | -€3,428 | -62.2% |
| Accrued charges and deferred income | 492/3 | €173 | €149 | -€24 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €780 | €1,880 | +€1,101 | +141% |
| Other operating charges | 640/8 | €473 | €799 | +€326 | +68.8% |
| Gross operating margin | 9900 | €42,642 | €81,230 | +€38,589 | +90.5% |
| Operating profit (loss) | 9901 | €41,389 | €78,552 | +€37,163 | +89.8% |
| Financial income | 75/76B | €101 | €0 | -€101 | -100.0% |
| Recurring financial income | 75 | €101 | €0 | -€101 | -100.0% |
| Financial charges | 65/66B | €3,667 | €3,588 | -€80 | -2.2% |
| Recurring financial charges | 65 | €3,667 | €3,588 | -€80 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €37,823 | €74,964 | +€37,141 | +98.2% |
| Income taxes | 67/77 | €8,167 | €16,838 | +€8,671 | +106% |
| Profit (loss) for the period | 9904 | €29,656 | €58,126 | +€28,470 | +96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,656 | €58,126 | +€28,470 | +96.0% |
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 14 October 2026 via checked.be.