QiC: 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.
QiC
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+215.4%), from €582,129 to €1.8m
- Cash -€431,540
down €431,540 (-27.6%), from €1.6m to €1.1m
mainly Contributions, distributions and other (-€3.4m) and Investment in fixed assets (net) (-€1.3m)
- Receivables within one year -€126,218
down €126,218 (-71.2%), from €177,257 to €51,038
of which Other amounts receivable: -€126,058
- Profit (loss) carried forward +€667,840
up €667,840 (+29.1%), from €2.3m to €3.0m
- Other debts +€32,178
up €32,178 (+30.1%), from €106,986 to €139,165
- Financial income +€1.9m
up €1.9m (+93.1%), from €2.1m to €4.0m
of which Financial income: +€1.9m
- Gross operating margin -€35,995
down €35,995 (-33.0%), from €109,030 to €73,035
- Financial charges -€23,224
down €23,224 (-97.4%), from €23,851 to €628
of which Non-recurring financial charges: -€23,654
- Depreciation +€18,187
up €18,187 (+321.6%), from €5,655 to €23,842
- Other operating charges +€1,325
up €1,325 (+70.2%), from €1,888 to €3,213
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 | €2,434,913 | €3,111,259 | +€676,346 | +27.8% |
| Fixed assets | 21/28 | €692,791 | €1,926,491 | +€1.2m | +178.1% |
| Tangible fixed assets | 22/27 | €110,662 | €90,580 | -€20,082 | -18.1% |
| Furniture and vehicles | 24 | €105,432 | €86,100 | -€19,332 | -18.3% |
| Other tangible fixed assets | 26 | €5,229 | €4,479 | -€750 | -14.3% |
| Financial fixed assets | 28 | €582,129 | €1,835,912 | +€1.3m | +215.4% |
| Current assets | 29/58 | €1,742,122 | €1,184,768 | -€557,355 | -32.0% |
| Amounts receivable within one year | 40/41 | €177,257 | €51,038 | -€126,218 | -71.2% |
| Trade receivables | 40 | €161 | - | -€161 | |
| Other amounts receivable | 41 | €177,096 | €51,038 | -€126,058 | -71.2% |
| Cash at bank and in hand | 54/58 | €1,560,783 | €1,129,243 | -€431,540 | -27.6% |
| Deferred charges and accrued income | 490/1 | €4,082 | €4,486 | +€404 | +9.9% |
| Total equity and liabilities | 10/49 | €2,434,913 | €3,111,259 | +€676,346 | +27.8% |
| Equity | 10/15 | €2,300,023 | €2,967,863 | +€667,840 | +29.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,298,023 | €2,965,863 | +€667,840 | +29.1% |
| Amounts payable | 17/49 | €134,890 | €143,396 | +€8,506 | +6.3% |
| Amounts payable within one year | 42/48 | €134,716 | €143,396 | +€8,680 | +6.4% |
| Trade debts | 44 | €6,913 | €4,232 | -€2,681 | -38.8% |
| Suppliers | 440/4 | €6,913 | €4,232 | -€2,681 | -38.8% |
| Taxes, remuneration and social security | 45 | €20,817 | - | -€20,817 | |
| Taxes | 450/3 | €20,817 | - | -€20,817 | |
| Other amounts payable | 47/48 | €106,986 | €139,165 | +€32,178 | +30.1% |
| Accrued charges and deferred income | 492/3 | €175 | - | -€175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,655 | €23,842 | +€18,187 | +321.6% |
| Other operating charges | 640/8 | €1,888 | €3,213 | +€1,325 | +70.2% |
| Non-recurring operating charges | 66A | - | €25,760 | +€25,760 | |
| Gross operating margin | 9900 | €109,030 | €73,035 | -€35,995 | -33.0% |
| Operating profit (loss) | 9901 | €101,487 | €20,220 | -€81,267 | -80.1% |
| Financial income | 75/76B | €2,093,963 | €4,043,398 | +€1.9m | +93.1% |
| Recurring financial income | 75 | €2,093,963 | €4,019,744 | +€1.9m | +92.0% |
| Non-recurring financial income | 76B | - | €23,654 | +€23,654 | |
| Financial charges | 65/66B | €23,851 | €628 | -€23,224 | -97.4% |
| Recurring financial charges | 65 | €197 | €628 | +€431 | +218.8% |
| Non-recurring financial charges | 66B | €23,654 | - | -€23,654 | |
| Profit (loss) for the period before taxes | 9903 | €2,171,599 | €4,062,990 | +€1.9m | +87.1% |
| Income taxes | 67/77 | €29,678 | €29,048 | -€630 | -2.1% |
| Profit (loss) for the period | 9904 | €2,141,921 | €4,033,942 | +€1.9m | +88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,141,921 | €4,033,942 | +€1.9m | +88.3% |
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 9 October 2026 via checked.be.