Qetes: what changed
Two fiscal 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.
Qetes
Largest movements
- Stocks and contracts +€35,074
up €35,074 (+139.0%), from €25,225 to €60,299
- Cash -€9,093
down €9,093 (-76.8%), from €11,834 to €2,741
mainly Stocks and contracts (-€35,074) and Trade debts (-€11,624)
- Receivables within one year -€6,384
down €6,384 (-83.1%), from €7,684 to €1,300
of which Trade receivables: -€6,000
- Deferred charges and accrued income +€964
up €964 (+127.4%), from €757 to €1,721
- Tangible fixed assets +€802
up €802 (+159.6%), from €503 to €1,305
- Debts after one year +€40,000
new in 2025: €40,000
- Trade debts -€11,624
down €11,624 (-90.5%), from €12,840 to €1,216
- Profit (loss) carried forward -€8,735
down €8,735 (-31.7%), from -€27,584 to -€36,319
- Other debts +€1,709
up €1,709 (+229.1%), from €746 to €2,455
- Gross operating margin +€19,559
up €19,559 (+74.2%), from -€26,364 to -€6,805
- Depreciation +€326
up €326 (+219.0%), from €149 to €475
- Other operating charges +€317
up €317 (+38.9%), from €814 to €1,130
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 | €46,003 | €67,366 | +€21,363 | +46.4% |
| Fixed assets | 21/28 | €503 | €1,305 | +€802 | +159.6% |
| Tangible fixed assets | 22/27 | €503 | €1,305 | +€802 | +159.6% |
| Furniture and vehicles | 24 | €503 | €1,305 | +€802 | +159.6% |
| Current assets | 29/58 | €45,500 | €66,061 | +€20,561 | +45.2% |
| Stocks and contracts in progress | 3 | €25,225 | €60,299 | +€35,074 | +139.0% |
| Stocks | 30/36 | €25,225 | €60,299 | +€35,074 | +139.0% |
| Amounts receivable within one year | 40/41 | €7,684 | €1,300 | -€6,384 | -83.1% |
| Trade receivables | 40 | €6,000 | €0 | -€6,000 | -100.0% |
| Other amounts receivable | 41 | €1,684 | €1,300 | -€384 | -22.8% |
| Cash at bank and in hand | 54/58 | €11,834 | €2,741 | -€9,093 | -76.8% |
| Deferred charges and accrued income | 490/1 | €757 | €1,721 | +€964 | +127.4% |
| Total equity and liabilities | 10/49 | €46,003 | €67,366 | +€21,363 | +46.4% |
| Equity | 10/15 | €32,416 | €23,681 | -€8,735 | -26.9% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,584 | -€36,319 | -€8,735 | -31.7% |
| Amounts payable | 17/49 | €13,586 | €43,685 | +€30,099 | +221.5% |
| Amounts payable after more than one year | 17 | - | €40,000 | +€40,000 | |
| Financial debts | 170/4 | - | €40,000 | +€40,000 | |
| Amounts payable within one year | 42/48 | €13,586 | €3,685 | -€9,901 | -72.9% |
| Trade debts | 44 | €12,840 | €1,216 | -€11,624 | -90.5% |
| Suppliers | 440/4 | €12,840 | €1,216 | -€11,624 | -90.5% |
| Taxes, remuneration and social security | 45 | - | €14 | +€14 | |
| Taxes | 450/3 | - | €14 | +€14 | |
| Other amounts payable | 47/48 | €746 | €2,455 | +€1,709 | +229.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149 | €475 | +€326 | +219.0% |
| Other operating charges | 640/8 | €814 | €1,130 | +€317 | +38.9% |
| Gross operating margin | 9900 | -€26,364 | -€6,805 | +€19,559 | +74.2% |
| Operating profit (loss) | 9901 | -€27,327 | -€8,410 | +€18,917 | +69.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €257 | €326 | +€68 | +26.6% |
| Recurring financial charges | 65 | €257 | €326 | +€68 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | -€27,584 | -€8,735 | +€18,848 | +68.3% |
| Profit (loss) for the period | 9904 | -€27,584 | -€8,735 | +€18,848 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,584 | -€8,735 | +€18,848 | +68.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.