qdc: 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.
qdc
Largest movements
- Receivables within one year +€26,690
up €26,690 (+52.9%), from €50,448 to €77,137
of which Other amounts receivable: +€25,486
- Tangible fixed assets -€9,952
down €9,952 (-31.1%), from €32,024 to €22,072
- Deferred charges and accrued income +€1,522
up €1,522 (+2,884%), from €53 to €1,575
- Other debts +€13,561
up €13,561 (+19.0%), from €71,198 to €84,759
- Tax, wage and social debts +€5,097
up €5,097 (+16.5%), from €30,940 to €36,037
- Gross operating margin +€20,840
up €20,840 (+20.6%), from €101,403 to €122,243
- Taxes +€4,442
up €4,442 (+21.3%), from €20,837 to €25,279
- Depreciation +€2,108
up €2,108 (+25.2%), from €8,365 to €10,474
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 | €109,650 | €128,314 | +€18,664 | +17.0% |
| Fixed assets | 21/28 | €32,129 | €22,177 | -€9,952 | -31.0% |
| Tangible fixed assets | 22/27 | €32,024 | €22,072 | -€9,952 | -31.1% |
| Furniture and vehicles | 24 | €32,024 | €22,072 | -€9,952 | -31.1% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €77,522 | €106,137 | +€28,616 | +36.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €50,448 | €77,137 | +€26,690 | +52.9% |
| Trade receivables | 40 | €18,429 | €19,633 | +€1,204 | +6.5% |
| Other amounts receivable | 41 | €32,018 | €57,504 | +€25,486 | +79.6% |
| Cash at bank and in hand | 54/58 | €27,021 | €27,425 | +€404 | +1.5% |
| Deferred charges and accrued income | 490/1 | €53 | €1,575 | +€1,522 | +2,884% |
| Total equity and liabilities | 10/49 | €109,650 | €128,314 | +€18,664 | +17.0% |
| Equity | 10/15 | €3,500 | €3,500 | = | 0.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €106,150 | €124,814 | +€18,664 | +17.6% |
| Amounts payable within one year | 42/48 | €106,150 | €124,814 | +€18,664 | +17.6% |
| Trade debts | 44 | €4,013 | €4,018 | +€5 | +0.1% |
| Suppliers | 440/4 | €4,013 | €4,018 | +€5 | +0.1% |
| Taxes, remuneration and social security | 45 | €30,940 | €36,037 | +€5,097 | +16.5% |
| Taxes | 450/3 | €30,940 | €36,037 | +€5,097 | +16.5% |
| Other amounts payable | 47/48 | €71,198 | €84,759 | +€13,561 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,365 | €10,474 | +€2,108 | +25.2% |
| Other operating charges | 640/8 | €530 | €1,438 | +€909 | +171% |
| Gross operating margin | 9900 | €101,403 | €122,243 | +€20,840 | +20.6% |
| Operating profit (loss) | 9901 | €92,508 | €110,331 | +€17,823 | +19.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €473 | €293 | -€181 | -38.1% |
| Recurring financial charges | 65 | €473 | €293 | -€181 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €92,035 | €110,038 | +€18,003 | +19.6% |
| Income taxes | 67/77 | €20,837 | €25,279 | +€4,442 | +21.3% |
| Profit (loss) for the period | 9904 | €71,198 | €84,759 | +€13,561 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,198 | €84,759 | +€13,561 | +19.0% |
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 17 October 2026 via checked.be.