QIANG-WEI: 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.
QIANG-WEI
Largest movements
- Cash +€10,108
up €10,108 (+5.8%), from €174,053 to €184,161
mainly Net result for the year (+€25,910) and Depreciation (+€10,521)
- Tangible fixed assets -€8,214
down €8,214 (-20.2%), from €40,723 to €32,508
of which Other tangible fixed assets: -€5,850
- Receivables within one year -€4,889
down €4,889 (-13.1%), from €37,448 to €32,559
of which Other amounts receivable: -€2,979
- Reserves +€25,910
up €25,910 (+12.9%), from €200,620 to €226,531
- Trade debts -€18,560
down €18,560 (-64.5%), from €28,766 to €10,206
- Tax, wage and social debts -€8,840
down €8,840 (-27.0%), from €32,700 to €23,860
of which Taxes: -€9,730
- Gross operating margin -€58,725
down €58,725 (-25.2%), from €232,901 to €174,176
- Taxes -€15,569
down €15,569 (-59.6%), from €26,139 to €10,570
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 | €305,660 | €303,284 | -€2,376 | -0.8% |
| Fixed assets | 21/28 | €40,723 | €32,508 | -€8,214 | -20.2% |
| Tangible fixed assets | 22/27 | €40,723 | €32,508 | -€8,214 | -20.2% |
| Plant, machinery and equipment | 23 | €5,560 | €4,942 | -€618 | -11.1% |
| Furniture and vehicles | 24 | €8,358 | €6,612 | -€1,746 | -20.9% |
| Other tangible fixed assets | 26 | €26,805 | €20,955 | -€5,850 | -21.8% |
| Current assets | 29/58 | €264,937 | €270,775 | +€5,838 | +2.2% |
| Stocks and contracts in progress | 3 | €52,696 | €50,304 | -€2,392 | -4.5% |
| Stocks | 30/36 | €52,696 | €50,304 | -€2,392 | -4.5% |
| Amounts receivable within one year | 40/41 | €37,448 | €32,559 | -€4,889 | -13.1% |
| Trade receivables | 40 | €16,216 | €14,306 | -€1,910 | -11.8% |
| Other amounts receivable | 41 | €21,232 | €18,253 | -€2,979 | -14.0% |
| Cash at bank and in hand | 54/58 | €174,053 | €184,161 | +€10,108 | +5.8% |
| Deferred charges and accrued income | 490/1 | €741 | €3,752 | +€3,011 | +406.3% |
| Total equity and liabilities | 10/49 | €305,660 | €303,284 | -€2,376 | -0.8% |
| Equity | 10/15 | €240,620 | €266,531 | +€25,910 | +10.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €200,620 | €226,531 | +€25,910 | +12.9% |
| Distributable reserves | 133 | €200,620 | €226,531 | +€25,910 | +12.9% |
| Amounts payable | 17/49 | €65,039 | €36,753 | -€28,286 | -43.5% |
| Amounts payable within one year | 42/48 | €61,466 | €34,461 | -€27,005 | -43.9% |
| Trade debts | 44 | €28,766 | €10,206 | -€18,560 | -64.5% |
| Suppliers | 440/4 | €28,766 | €10,206 | -€18,560 | -64.5% |
| Taxes, remuneration and social security | 45 | €32,700 | €23,860 | -€8,840 | -27.0% |
| Taxes | 450/3 | €25,654 | €15,923 | -€9,730 | -37.9% |
| Remuneration and social security | 454/9 | €7,046 | €7,937 | +€890 | +12.6% |
| Other amounts payable | 47/48 | - | €395 | +€395 | |
| Accrued charges and deferred income | 492/3 | €3,573 | €2,292 | -€1,282 | -35.9% |
| Non-recurring operating income | 76A | €1,158 | €1,429 | +€271 | +23.4% |
| Remuneration, social security and pensions | 62 | €126,123 | €125,374 | -€749 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,986 | €10,521 | -€1,464 | -12.2% |
| Non-recurring operating charges | 66A | €343 | €1,454 | +€1,111 | +323.9% |
| Gross operating margin | 9900 | €232,901 | €174,176 | -€58,725 | -25.2% |
| Operating profit (loss) | 9901 | €94,450 | €36,827 | -€57,623 | -61.0% |
| Financial income | 75/76B | €249 | €1,288 | +€1,040 | +418.0% |
| Recurring financial income | 75 | €249 | €1,288 | +€1,040 | +418.0% |
| Financial charges | 65/66B | €933 | €1,635 | +€702 | +75.2% |
| Recurring financial charges | 65 | €933 | €1,635 | +€702 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €93,765 | €36,480 | -€57,285 | -61.1% |
| Income taxes | 67/77 | €26,139 | €10,570 | -€15,569 | -59.6% |
| Profit (loss) for the period | 9904 | €67,626 | €25,910 | -€41,715 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,626 | €25,910 | -€41,715 | -61.7% |
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 12 October 2026 via checked.be.