QF Stabels: 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.
QF Stabels
Largest movements
- Tangible fixed assets +€57,788
up €57,788 (+4,206%), from €1,374 to €59,162
of which Leasing and similar rights: +€57,869
- Receivables within one year +€32,240
up €32,240, from €0 to €32,240
- Cash -€17,637
down €17,637 (-99.7%), from €17,684 to €47
mainly Investment in fixed assets (net) (-€65,515) and Receivables within one year (-€32,240)
- Stocks and contracts +€14,500
up €14,500 (+414%), from €3,500 to €18,000
- Deferred charges and accrued income +€1,271
new in 2025: €1,271
- Debts after one year +€47,520
new in 2025: €47,520
- Other debts +€39,380
new in 2025: €39,380
- Profit (loss) carried forward -€15,697
down €15,697 (-281%), from -€5,588 to -€21,285
- Current portion of long-term debt +€11,354
new in 2025: €11,354
- Trade debts +€5,504
up €5,504 (+101%), from €5,461 to €10,965
- Depreciation +€7,727
new in 2025: €7,727
- Gross operating margin -€4,011
down €4,011 (-229%), from -€1,755 to -€5,766
- Financial charges +€1,922
up €1,922 (+1,193%), from €161 to €2,083
- Other operating charges -€385
down €385 (-76.3%), from €505 to €120
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 | €22,558 | €110,719 | +€88,161 | +391% |
| Fixed assets | 21/28 | €1,374 | €59,162 | +€57,788 | +4,206% |
| Tangible fixed assets | 22/27 | €1,374 | €59,162 | +€57,788 | +4,206% |
| Plant, machinery and equipment | 23 | €1,374 | €1,293 | -€81 | -5.9% |
| Leasing and similar rights | 25 | - | €57,869 | +€57,869 | |
| Current assets | 29/58 | €21,184 | €51,557 | +€30,374 | +143% |
| Stocks and contracts in progress | 3 | €3,500 | €18,000 | +€14,500 | +414% |
| Stocks | 30/36 | €3,500 | €18,000 | +€14,500 | +414% |
| Amounts receivable within one year | 40/41 | €0 | €32,240 | +€32,240 | |
| Other amounts receivable | 41 | €0 | €32,240 | +€32,240 | |
| Cash at bank and in hand | 54/58 | €17,684 | €47 | -€17,637 | -99.7% |
| Deferred charges and accrued income | 490/1 | - | €1,271 | +€1,271 | |
| Total equity and liabilities | 10/49 | €22,558 | €110,719 | +€88,161 | +391% |
| Equity | 10/15 | €17,097 | €1,400 | -€15,697 | -91.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,685 | €2,685 | = | 0.0% |
| Distributable reserves | 133 | €2,685 | €2,685 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,588 | -€21,285 | -€15,697 | -281% |
| Amounts payable | 17/49 | €5,461 | €109,319 | +€103,858 | +1,902% |
| Amounts payable after more than one year | 17 | - | €47,520 | +€47,520 | |
| Financial debts | 170/4 | - | €47,520 | +€47,520 | |
| Amounts payable within one year | 42/48 | €5,461 | €61,798 | +€56,338 | +1,032% |
| Current portion of amounts payable after more than one year | 42 | - | €11,354 | +€11,354 | |
| Financial debts | 43 | - | €100 | +€100 | |
| Credit institutions | 430/8 | - | €100 | +€100 | |
| Trade debts | 44 | €5,461 | €10,965 | +€5,504 | +101% |
| Suppliers | 440/4 | €5,461 | €10,965 | +€5,504 | +101% |
| Other amounts payable | 47/48 | - | €39,380 | +€39,380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,727 | +€7,727 | |
| Other operating charges | 640/8 | €505 | €120 | -€385 | -76.3% |
| Gross operating margin | 9900 | -€1,755 | -€5,766 | -€4,011 | -229% |
| Operating profit (loss) | 9901 | -€2,260 | -€13,614 | -€11,353 | -502% |
| Financial charges | 65/66B | €161 | €2,083 | +€1,922 | +1,193% |
| Recurring financial charges | 65 | €161 | €2,083 | +€1,922 | +1,193% |
| Profit (loss) for the period before taxes | 9903 | -€2,421 | -€15,697 | -€13,275 | -548% |
| Profit (loss) for the period | 9904 | -€2,421 | -€15,697 | -€13,275 | -548% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,421 | -€15,697 | -€13,275 | -548% |
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 15 October 2026 via checked.be.