QDC GRONDWERKEN: 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 GRONDWERKEN
Largest movements
- Tangible fixed assets -€32,481
down €32,481 (-19.1%), from €170,046 to €137,565
of which Plant, machinery and equipment: -€43,557
- Cash +€13,483
up €13,483 (+68.8%), from €19,589 to €33,072
mainly Depreciation (+€62,077) and Other debts (+€43,482)
- Other debts +€43,482
up €43,482 (+44.2%), from €98,459 to €141,942
- Profit (loss) carried forward -€28,650
down €28,650 (-214%), from -€13,374 to -€42,023
- Debts after one year -€26,579
down €26,579 (-40.1%), from €66,225 to €39,646
- Tax, wage and social debts -€5,429
down €5,429 (-22.1%), from €24,606 to €19,177
of which Remuneration and social security: -€6,000
- Gross operating margin +€11,780
up €11,780 (+38.8%), from €30,390 to €42,170
- Depreciation +€6,479
up €6,479 (+11.7%), from €55,598 to €62,077
- Financial charges -€1,045
down €1,045 (-23.1%), from €4,521 to €3,476
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 | €211,194 | €193,076 | -€18,118 | -8.6% |
| Fixed assets | 21/28 | €170,046 | €137,565 | -€32,481 | -19.1% |
| Tangible fixed assets | 22/27 | €170,046 | €137,565 | -€32,481 | -19.1% |
| Plant, machinery and equipment | 23 | €122,698 | €79,141 | -€43,557 | -35.5% |
| Furniture and vehicles | 24 | €47,348 | €58,424 | +€11,076 | +23.4% |
| Current assets | 29/58 | €41,148 | €55,511 | +€14,363 | +34.9% |
| Amounts receivable within one year | 40/41 | €20,875 | €21,753 | +€878 | +4.2% |
| Trade receivables | 40 | €20,871 | €21,744 | +€874 | +4.2% |
| Other amounts receivable | 41 | €4 | €9 | +€5 | +104% |
| Cash at bank and in hand | 54/58 | €19,589 | €33,072 | +€13,483 | +68.8% |
| Deferred charges and accrued income | 490/1 | €683 | €685 | +€2 | +0.3% |
| Total equity and liabilities | 10/49 | €211,194 | €193,076 | -€18,118 | -8.6% |
| Equity | 10/15 | -€8,374 | -€37,023 | -€28,650 | -342% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,374 | -€42,023 | -€28,650 | -214% |
| Amounts payable | 17/49 | €219,567 | €230,099 | +€10,532 | +4.8% |
| Amounts payable after more than one year | 17 | €66,225 | €39,646 | -€26,579 | -40.1% |
| Financial debts | 170/4 | €66,225 | €39,646 | -€26,579 | -40.1% |
| Amounts payable within one year | 42/48 | €153,343 | €190,453 | +€37,110 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €25,519 | €26,579 | +€1,059 | +4.2% |
| Trade debts | 44 | €4,758 | €2,756 | -€2,002 | -42.1% |
| Suppliers | 440/4 | €4,758 | €2,756 | -€2,002 | -42.1% |
| Taxes, remuneration and social security | 45 | €24,606 | €19,177 | -€5,429 | -22.1% |
| Taxes | 450/3 | €6,606 | €7,177 | +€571 | +8.6% |
| Remuneration and social security | 454/9 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Other amounts payable | 47/48 | €98,459 | €141,942 | +€43,482 | +44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,598 | €62,077 | +€6,479 | +11.7% |
| Other operating charges | 640/8 | €718 | €912 | +€194 | +27.1% |
| Non-recurring operating charges | 66A | - | €4,364 | +€4,364 | |
| Gross operating margin | 9900 | €30,390 | €42,170 | +€11,780 | +38.8% |
| Operating profit (loss) | 9901 | -€25,925 | -€25,184 | +€742 | +2.9% |
| Financial income | 75/76B | €0 | €10 | +€10 | +100,200% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +100,200% |
| Financial charges | 65/66B | €4,521 | €3,476 | -€1,045 | -23.1% |
| Recurring financial charges | 65 | €4,521 | €3,476 | -€1,045 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | -€30,446 | -€28,650 | +€1,797 | +5.9% |
| Profit (loss) for the period | 9904 | -€30,446 | -€28,650 | +€1,797 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,446 | -€28,650 | +€1,797 | +5.9% |
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 28 October 2026 via checked.be.