Qe'bab: 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.
Qe'bab
Largest movements
- Cash -€47,292
down €47,292 (-42.5%), from €111,327 to €64,035
mainly Investment in fixed assets (net) (-€42,106) and Stocks and contracts (-€30,414)
- Stocks and contracts +€30,414
up €30,414 (+248%), from €12,281 to €42,695
- Tangible fixed assets +€22,614
up €22,614 (+29.4%), from €77,017 to €99,631
of which Plant, machinery and equipment: +€17,517
- Receivables within one year -€6,977
down €6,977 (-60.7%), from €11,488 to €4,511
of which Trade receivables: -€7,054
- Debts after one year -€8,245
down €8,245 (-74.4%), from €11,084 to €2,839
- Trade debts +€4,113
up €4,113 (+9.1%), from €45,434 to €49,548
- Accrued charges and deferred income +€2,634
new in 2025: €2,634
- Staff costs +€124,949
up €124,949 (+70.2%), from €177,912 to €302,861
- Gross operating margin +€115,845
up €115,845 (+49.7%), from €233,195 to €349,040
- Other operating charges +€17,511
up €17,511 (+396%), from €4,417 to €21,928
- Taxes -€7,225
down €7,225 (-99.9%), from €7,229 to €4
- Depreciation +€4,778
up €4,778 (+32.5%), from €14,715 to €19,493
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 | €221,780 | €220,556 | -€1,224 | -0.6% |
| Fixed assets | 21/28 | €81,367 | €103,981 | +€22,614 | +27.8% |
| Tangible fixed assets | 22/27 | €77,017 | €99,631 | +€22,614 | +29.4% |
| Land and buildings | 22 | €36,706 | €44,728 | +€8,023 | +21.9% |
| Plant, machinery and equipment | 23 | €9,921 | €27,439 | +€17,517 | +177% |
| Furniture and vehicles | 24 | €30,390 | €27,464 | -€2,926 | -9.6% |
| Financial fixed assets | 28 | €4,350 | €4,350 | = | 0.0% |
| Current assets | 29/58 | €140,412 | €116,575 | -€23,838 | -17.0% |
| Stocks and contracts in progress | 3 | €12,281 | €42,695 | +€30,414 | +248% |
| Stocks | 30/36 | €12,281 | €42,695 | +€30,414 | +248% |
| Amounts receivable within one year | 40/41 | €11,488 | €4,511 | -€6,977 | -60.7% |
| Trade receivables | 40 | €9,686 | €2,632 | -€7,054 | -72.8% |
| Other amounts receivable | 41 | €1,802 | €1,880 | +€77 | +4.3% |
| Cash at bank and in hand | 54/58 | €111,327 | €64,035 | -€47,292 | -42.5% |
| Deferred charges and accrued income | 490/1 | €5,317 | €5,334 | +€17 | +0.3% |
| Total equity and liabilities | 10/49 | €221,780 | €220,556 | -€1,224 | -0.6% |
| Equity | 10/15 | €113,425 | €111,675 | -€1,750 | -1.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,925 | €109,175 | -€1,750 | -1.6% |
| Amounts payable | 17/49 | €108,355 | €108,881 | +€526 | +0.5% |
| Amounts payable after more than one year | 17 | €11,084 | €2,839 | -€8,245 | -74.4% |
| Financial debts | 170/4 | €11,084 | €2,839 | -€8,245 | -74.4% |
| Amounts payable within one year | 42/48 | €97,271 | €103,408 | +€6,137 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €7,853 | €8,245 | +€392 | +5.0% |
| Trade debts | 44 | €45,434 | €49,548 | +€4,113 | +9.1% |
| Suppliers | 440/4 | €45,434 | €49,548 | +€4,113 | +9.1% |
| Taxes, remuneration and social security | 45 | €43,983 | €45,123 | +€1,140 | +2.6% |
| Taxes | 450/3 | €17,571 | €6,007 | -€11,564 | -65.8% |
| Remuneration and social security | 454/9 | €26,412 | €39,116 | +€12,704 | +48.1% |
| Other amounts payable | 47/48 | - | €492 | +€492 | |
| Accrued charges and deferred income | 492/3 | - | €2,634 | +€2,634 | |
| Remuneration, social security and pensions | 62 | €177,912 | €302,861 | +€124,949 | +70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,715 | €19,493 | +€4,778 | +32.5% |
| Other operating charges | 640/8 | €4,417 | €21,928 | +€17,511 | +396% |
| Gross operating margin | 9900 | €233,195 | €349,040 | +€115,845 | +49.7% |
| Operating profit (loss) | 9901 | €36,152 | €4,758 | -€31,393 | -86.8% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €4,646 | €6,504 | +€1,858 | +40.0% |
| Recurring financial charges | 65 | €4,646 | €6,504 | +€1,858 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €31,518 | -€1,746 | -€33,264 | |
| Income taxes | 67/77 | €7,229 | €4 | -€7,225 | -99.9% |
| Profit (loss) for the period | 9904 | €24,288 | -€1,750 | -€26,039 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,288 | -€1,750 | -€26,039 |
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 26 October 2026 via checked.be.