QeoCo: 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.
QeoCo
Largest movements
- Cash +€19,757
up €19,757 (+22.8%), from €86,572 to €106,329
mainly Net result for the year (+€111,471) and Other debts (+€15,765)
- Tangible fixed assets -€6,583
down €6,583 (-20.5%), from €32,035 to €25,452
of which Furniture and vehicles: -€6,970
- Receivables within one year +€4,788
up €4,788 (+15.5%), from €30,862 to €35,650
of which Trade receivables: +€7,103
- Other debts +€15,765
up €15,765 (+13.5%), from €116,629 to €132,394
- Tax, wage and social debts +€2,211
up €2,211 (+16.4%), from €13,468 to €15,679
- Gross operating margin +€26,825
up €26,825 (+21.3%), from €126,152 to €152,977
- Taxes +€4,810
up €4,810 (+17.7%), from €27,135 to €31,945
- Depreciation +€4,038
up €4,038 (+81.0%), from €4,986 to €9,025
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.
Cash bridge derived
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 | €149,469 | €167,431 | +€17,963 | +12.0% |
| Fixed assets | 21/28 | €32,035 | €25,452 | -€6,583 | -20.5% |
| Tangible fixed assets | 22/27 | €32,035 | €25,452 | -€6,583 | -20.5% |
| Plant, machinery and equipment | 23 | €4,251 | €4,638 | +€387 | +9.1% |
| Furniture and vehicles | 24 | €27,785 | €20,815 | -€6,970 | -25.1% |
| Current assets | 29/58 | €117,434 | €141,979 | +€24,546 | +20.9% |
| Amounts receivable within one year | 40/41 | €30,862 | €35,650 | +€4,788 | +15.5% |
| Trade receivables | 40 | €26,733 | €33,836 | +€7,103 | +26.6% |
| Other amounts receivable | 41 | €4,128 | €1,814 | -€2,314 | -56.1% |
| Cash at bank and in hand | 54/58 | €86,572 | €106,329 | +€19,757 | +22.8% |
| Total equity and liabilities | 10/49 | €149,469 | €167,431 | +€17,963 | +12.0% |
| Equity | 10/15 | €18,878 | €18,878 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278 | €278 | = | 0.0% |
| Amounts payable | 17/49 | €130,591 | €148,553 | +€17,963 | +13.8% |
| Amounts payable within one year | 42/48 | €130,591 | €148,553 | +€17,963 | +13.8% |
| Trade debts | 44 | €493 | €480 | -€13 | -2.6% |
| Suppliers | 440/4 | €493 | €480 | -€13 | -2.6% |
| Taxes, remuneration and social security | 45 | €13,468 | €15,679 | +€2,211 | +16.4% |
| Taxes | 450/3 | €13,468 | €15,679 | +€2,211 | +16.4% |
| Other amounts payable | 47/48 | €116,629 | €132,394 | +€15,765 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,986 | €9,025 | +€4,038 | +81.0% |
| Other operating charges | 640/8 | €573 | €474 | -€99 | -17.3% |
| Gross operating margin | 9900 | €126,152 | €152,977 | +€26,825 | +21.3% |
| Operating profit (loss) | 9901 | €120,592 | €143,479 | +€22,886 | +19.0% |
| Financial income | 75/76B | €945 | €61 | -€883 | -93.5% |
| Recurring financial income | 75 | €945 | €61 | -€883 | -93.5% |
| Financial charges | 65/66B | €119 | €124 | +€5 | +4.1% |
| Recurring financial charges | 65 | €119 | €124 | +€5 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €121,418 | €143,416 | +€21,998 | +18.1% |
| Income taxes | 67/77 | €27,135 | €31,945 | +€4,810 | +17.7% |
| Profit (loss) for the period | 9904 | €94,283 | €111,471 | +€17,188 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €94,283 | €111,471 | +€17,188 | +18.2% |
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 10 October 2026 via checked.be.