QDB-SYSTEMS: 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.
QDB-SYSTEMS
Largest movements
- Cash +€341,865
up €341,865 (+539%), from €63,453 to €405,318
mainly Current investments (+€302,618) and Other debts (+€254,962)
- Current investments -€302,618
down €302,618 (-23.1%), from €1.3m to €1.0m
- Receivables within one year -€170,771
down €170,771 (-80.9%), from €211,182 to €40,412
of which Trade receivables: -€176,670
- Reserves -€418,547
down €418,547 (-26.8%), from €1.6m to €1.1m
- Other debts +€254,962
up €254,962 (+1,257%), from €20,284 to €275,245
- Gross operating margin -€104,342
down €104,342 (-41.4%), from €251,730 to €147,389
- Taxes -€39,511
down €39,511 (-44.2%), from €89,491 to €49,980
- Financial charges +€21,683
up €21,683 (+91.3%), from -€23,749 to -€2,066
- Financial income -€13,808
down €13,808 (-41.9%), from €32,973 to €19,165
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 | €1,638,975 | €1,490,911 | -€148,064 | -9.0% |
| Fixed assets | 21/28 | €39,376 | €34,611 | -€4,765 | -12.1% |
| Tangible fixed assets | 22/27 | €39,376 | €34,611 | -€4,765 | -12.1% |
| Plant, machinery and equipment | 23 | €1,521 | €1,176 | -€345 | -22.7% |
| Furniture and vehicles | 24 | €32,997 | €24,739 | -€8,259 | -25.0% |
| Other tangible fixed assets | 26 | €4,857 | €8,696 | +€3,839 | +79.0% |
| Current assets | 29/58 | €1,599,599 | €1,456,300 | -€143,299 | -9.0% |
| Amounts receivable within one year | 40/41 | €211,182 | €40,412 | -€170,771 | -80.9% |
| Trade receivables | 40 | €211,182 | €34,512 | -€176,670 | -83.7% |
| Other amounts receivable | 41 | - | €5,900 | +€5,900 | |
| Current investments | 50/53 | €1,311,606 | €1,008,988 | -€302,618 | -23.1% |
| Cash at bank and in hand | 54/58 | €63,453 | €405,318 | +€341,865 | +539% |
| Deferred charges and accrued income | 490/1 | €13,358 | €1,582 | -€11,776 | -88.2% |
| Total equity and liabilities | 10/49 | €1,638,975 | €1,490,911 | -€148,064 | -9.0% |
| Equity | 10/15 | €1,575,204 | €1,156,658 | -€418,547 | -26.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,562,804 | €1,144,258 | -€418,547 | -26.8% |
| Distributable reserves | 133 | €1,562,804 | €1,144,258 | -€418,547 | -26.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €63,771 | €334,253 | +€270,483 | +424% |
| Amounts payable within one year | 42/48 | €63,755 | €334,237 | +€270,482 | +424% |
| Financial debts | 43 | €31 | €25 | -€6 | -18.5% |
| Credit institutions | 430/8 | €31 | €25 | -€6 | -18.5% |
| Trade debts | 44 | €7,686 | €7,144 | -€542 | -7.0% |
| Suppliers | 440/4 | €7,686 | €7,144 | -€542 | -7.0% |
| Taxes, remuneration and social security | 45 | €35,754 | €51,822 | +€16,068 | +44.9% |
| Taxes | 450/3 | €35,754 | €51,822 | +€16,068 | +44.9% |
| Other amounts payable | 47/48 | €20,284 | €275,245 | +€254,962 | +1,257% |
| Accrued charges and deferred income | 492/3 | €16 | €16 | +€0 | +2.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,122 | €9,443 | +€1,321 | +16.3% |
| Other operating charges | 640/8 | €3,126 | €1,427 | -€1,699 | -54.4% |
| Non-recurring operating charges | 66A | €1,174 | €0 | -€1,174 | -100% |
| Gross operating margin | 9900 | €251,730 | €147,389 | -€104,342 | -41.4% |
| Operating profit (loss) | 9901 | €239,308 | €136,519 | -€102,790 | -43.0% |
| Financial income | 75/76B | €32,973 | €19,165 | -€13,808 | -41.9% |
| Recurring financial income | 75 | €32,973 | €19,165 | -€13,808 | -41.9% |
| Financial charges | 65/66B | -€23,749 | -€2,066 | +€21,683 | +91.3% |
| Recurring financial charges | 65 | -€23,749 | -€2,066 | +€21,683 | +91.3% |
| Profit (loss) for the period before taxes | 9903 | €296,030 | €157,749 | -€138,281 | -46.7% |
| Income taxes | 67/77 | €89,491 | €49,980 | -€39,511 | -44.2% |
| Profit (loss) for the period | 9904 | €206,539 | €107,769 | -€98,770 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €206,539 | €107,769 | -€98,770 | -47.8% |
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.