QG ENGINEERING: 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.
What changed
QG ENGINEERING
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€72,347
2024 · €169,731-€97,384
Equity
€223,928
2024 · €151,581+€72,347
Cash
€0
2024 · €13,485-€13,485
Balance sheet total
€1.5m
2024 · €1.5m+€57,752
Largest movements
Assets
- Tangible fixed assets +€89,545
up €89,545 (+10.8%), from €828,423 to €917,968
of which Land and buildings: +€123,924
Equity and liabilities
- Debts after one year -€810,747
down €810,747 (-96.3%), from €841,849 to €31,102
- Current portion of long-term debt +€810,742
up €810,742 (+1,282%), from €63,264 to €874,005
- Short-term financial debts +€124,135
up €124,135 (+1,432%), from €8,669 to €132,804
- Accrued charges and deferred income -€77,529
down €77,529 (-93.1%), from €83,268 to €5,739
- Profit (loss) carried forward +€72,347
up €72,347 (+1,648%), from €4,390 to €76,737
Income statement
- Gross operating margin -€130,704
down €130,704 (-39.0%), from €335,169 to €204,465
- Taxes -€81,107
down €81,107 (-98.5%), from €82,308 to €1,201
- Financial charges +€54,890
up €54,890 (+161%), from €34,142 to €89,032
- Financial income +€20,938
up €20,938 (+11,562%), from €181 to €21,119
- Depreciation +€18,120
up €18,120 (+54.4%), from €33,314 to €51,434
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.
Result 2024
€169,731
Gross operating margin
-€130,704
Depreciation
-€18,120
Write-downs
+€8,003
Other operating charges
-€5,727
Other operating items
+€2,010
Financial income
+€20,938
Financial charges
-€54,890
Taxes
+€81,107
Result 2025
€72,347
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€602
Investment
-€137,012
Financing
+€124,129
Cash 2024
€13,485
From operations (derived)
-€602
Net result for the year
+€72,347
Depreciation
+€51,434
Stocks and contracts
-€5,630
Receivables within one year
+€12,228
Deferred charges and accrued income
+€7,743
Trade debts
+€25,515
Tax, wage and social debts
-€24,662
Other debts
-€62,047
Accrued charges and deferred income
-€77,529
Investment (derived)
-€137,012
Investment in fixed assets (net)
-€140,979
Current investments
+€3,967
Financing
+€124,129
Debts after one year
-€810,747
Current portion of long-term debt
+€810,742
Short-term financial debts
+€124,135
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,454,488 | €1,512,241 | +€57,752 | +4.0% |
| Fixed assets | 21/28 | €828,786 | €918,331 | +€89,545 | +10.8% |
| Tangible fixed assets | 22/27 | €828,423 | €917,968 | +€89,545 | +10.8% |
| Land and buildings | 22 | €721,086 | €845,010 | +€123,924 | +17.2% |
| Plant, machinery and equipment | 23 | €159 | €2,503 | +€2,344 | +1,471% |
| Furniture and vehicles | 24 | €99,849 | €58,416 | -€41,433 | -41.5% |
| Other tangible fixed assets | 26 | €7,329 | €12,039 | +€4,710 | +64.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €625,702 | €593,909 | -€31,792 | -5.1% |
| Stocks and contracts in progress | 3 | €204,168 | €209,798 | +€5,630 | +2.8% |
| Stocks | 30/36 | €204,168 | €209,798 | +€5,630 | +2.8% |
| Amounts receivable within one year | 40/41 | €396,275 | €384,047 | -€12,228 | -3.1% |
| Trade receivables | 40 | €214,670 | €62,987 | -€151,683 | -70.7% |
| Other amounts receivable | 41 | €181,604 | €321,059 | +€139,455 | +76.8% |
| Current investments | 50/53 | €3,967 | €0 | -€3,967 | -100% |
| Cash at bank and in hand | 54/58 | €13,485 | €0 | -€13,485 | -100% |
| Deferred charges and accrued income | 490/1 | €7,807 | €65 | -€7,743 | -99.2% |
| Total equity and liabilities | 10/49 | €1,454,488 | €1,512,241 | +€57,752 | +4.0% |
| Equity | 10/15 | €151,581 | €223,928 | +€72,347 | +47.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €140,991 | €140,991 | = | 0.0% |
| Distributable reserves | 133 | €140,991 | €140,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,390 | €76,737 | +€72,347 | +1,648% |
| Amounts payable | 17/49 | €1,302,908 | €1,288,313 | -€14,594 | -1.1% |
| Amounts payable after more than one year | 17 | €841,849 | €31,102 | -€810,747 | -96.3% |
| Financial debts | 170/4 | €841,849 | €31,102 | -€810,747 | -96.3% |
| Amounts payable within one year | 42/48 | €377,790 | €1,251,472 | +€873,681 | +231% |
| Current portion of amounts payable after more than one year | 42 | €63,264 | €874,005 | +€810,742 | +1,282% |
| Financial debts | 43 | €8,669 | €132,804 | +€124,135 | +1,432% |
| Credit institutions | 430/8 | €8,669 | €132,804 | +€124,135 | +1,432% |
| Trade debts | 44 | €94,308 | €119,823 | +€25,515 | +27.1% |
| Suppliers | 440/4 | €94,308 | €119,823 | +€25,515 | +27.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €149,501 | €124,839 | -€24,662 | -16.5% |
| Taxes | 450/3 | €149,501 | €124,839 | -€24,662 | -16.5% |
| Other amounts payable | 47/48 | €62,047 | €0 | -€62,047 | -100% |
| Accrued charges and deferred income | 492/3 | €83,268 | €5,739 | -€77,529 | -93.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,314 | €51,434 | +€18,120 | +54.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,001 | -€4,001 | -€8,003 | |
| Other operating charges | 640/8 | €9,387 | €15,114 | +€5,727 | +61.0% |
| Non-recurring operating charges | 66A | €2,467 | €457 | -€2,010 | -81.5% |
| Gross operating margin | 9900 | €335,169 | €204,465 | -€130,704 | -39.0% |
| Operating profit (loss) | 9901 | €285,999 | €141,461 | -€144,539 | -50.5% |
| Financial income | 75/76B | €181 | €21,119 | +€20,938 | +11,562% |
| Recurring financial income | 75 | €181 | €21,119 | +€20,938 | +11,562% |
| Financial charges | 65/66B | €34,142 | €89,032 | +€54,890 | +161% |
| Recurring financial charges | 65 | €34,142 | €89,032 | +€54,890 | +161% |
| Profit (loss) for the period before taxes | 9903 | €252,039 | €73,548 | -€178,490 | -70.8% |
| Income taxes | 67/77 | €82,308 | €1,201 | -€81,107 | -98.5% |
| Profit (loss) for the period | 9904 | €169,731 | €72,347 | -€97,384 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €169,731 | €72,347 | -€97,384 | -57.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.