QILIN D'OR: 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.
QILIN D'OR
Largest movements
- Tangible fixed assets -€20,775
down €20,775 (-15.9%), from €130,644 to €109,870
of which Other tangible fixed assets: -€18,343
- Cash +€4,777
up €4,777 (+14.3%), from €33,319 to €38,096
mainly Net result for the year (+€22,506) and Depreciation (+€21,720)
- Stocks and contracts -€4,170
down €4,170 (-47.5%), from €8,786 to €4,615
- Receivables within one year +€3,419
new in 2025: €3,419
- Profit (loss) carried forward +€22,506
up €22,506 (+40.6%), from -€55,491 to -€32,985
- Tax, wage and social debts -€15,735
down €15,735 (-39.2%), from €40,093 to €24,358
of which Taxes: -€13,789
- Trade debts -€14,227
down €14,227 (-58.6%), from €24,270 to €10,043
- Debts after one year -€6,913
down €6,913 (-5.0%), from €137,004 to €130,091
- Other debts -€2,074
no longer reported in 2025 (was €2,074)
- Purchases and services +€288,199
new in 2025: €288,199
- Staff costs -€43,080
down €43,080 (-57.0%), from €75,605 to €32,525
- Gross operating margin -€26,078
down €26,078 (-20.6%), from €126,856 to €100,778
- Taxes -€6,007
down €6,007 (-35.5%), from €16,916 to €10,909
- Other operating charges +€2,098
up €2,098 (+20.6%), from €10,198 to €12,296
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 | €172,749 | €156,307 | -€16,442 | -9.5% |
| Fixed assets | 21/28 | €130,644 | €110,176 | -€20,469 | -15.7% |
| Tangible fixed assets | 22/27 | €130,644 | €109,870 | -€20,775 | -15.9% |
| Plant, machinery and equipment | 23 | €6,849 | €6,690 | -€159 | -2.3% |
| Furniture and vehicles | 24 | €2,441 | €169 | -€2,272 | -93.1% |
| Other tangible fixed assets | 26 | €121,354 | €103,011 | -€18,343 | -15.1% |
| Financial fixed assets | 28 | - | €306 | +€306 | |
| Current assets | 29/58 | €42,105 | €46,131 | +€4,026 | +9.6% |
| Stocks and contracts in progress | 3 | €8,786 | €4,615 | -€4,170 | -47.5% |
| Stocks | 30/36 | €8,786 | €4,615 | -€4,170 | -47.5% |
| Amounts receivable within one year | 40/41 | - | €3,419 | +€3,419 | |
| Other amounts receivable | 41 | - | €3,419 | +€3,419 | |
| Cash at bank and in hand | 54/58 | €33,319 | €38,096 | +€4,777 | +14.3% |
| Total equity and liabilities | 10/49 | €172,749 | €156,307 | -€16,442 | -9.5% |
| Equity | 10/15 | -€30,691 | -€8,185 | +€22,506 | +73.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €4,800 | €4,800 | = | 0.0% |
| Distributable reserves | 133 | €4,800 | €4,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,491 | -€32,985 | +€22,506 | +40.6% |
| Amounts payable | 17/49 | €203,440 | €164,491 | -€38,949 | -19.1% |
| Amounts payable after more than one year | 17 | €137,004 | €130,091 | -€6,913 | -5.0% |
| Other amounts payable | 178/9 | €137,004 | €130,091 | -€6,913 | -5.0% |
| Amounts payable within one year | 42/48 | €66,436 | €34,400 | -€32,036 | -48.2% |
| Trade debts | 44 | €24,270 | €10,043 | -€14,227 | -58.6% |
| Suppliers | 440/4 | €24,270 | €10,043 | -€14,227 | -58.6% |
| Taxes, remuneration and social security | 45 | €40,093 | €24,358 | -€15,735 | -39.2% |
| Taxes | 450/3 | €34,901 | €21,112 | -€13,789 | -39.5% |
| Remuneration and social security | 454/9 | €5,192 | €3,246 | -€1,946 | -37.5% |
| Other amounts payable | 47/48 | €2,074 | - | -€2,074 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €288,199 | +€288,199 | |
| Remuneration, social security and pensions | 62 | €75,605 | €32,525 | -€43,080 | -57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,576 | €21,720 | +€144 | +0.7% |
| Other operating charges | 640/8 | €10,198 | €12,296 | +€2,098 | +20.6% |
| Gross operating margin | 9900 | €126,856 | €100,778 | -€26,078 | -20.6% |
| Operating profit (loss) | 9901 | €19,478 | €34,238 | +€14,760 | +75.8% |
| Financial income | 75/76B | €13 | €1,628 | +€1,615 | +12,870% |
| Recurring financial income | 75 | €13 | €1,628 | +€1,615 | +12,870% |
| Non-recurring financial income | 76B | €13 | - | -€13 | |
| Financial charges | 65/66B | €2,138 | €2,450 | +€311 | +14.6% |
| Recurring financial charges | 65 | €2,138 | €2,450 | +€311 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €17,352 | €33,416 | +€16,064 | +92.6% |
| Income taxes | 67/77 | €16,916 | €10,909 | -€6,007 | -35.5% |
| Profit (loss) for the period | 9904 | €436 | €22,506 | +€22,071 | +5,067% |
| Profit (loss) for the period to be appropriated | 9905 | €436 | €22,506 | +€22,071 | +5,067% |
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 22 October 2026 via checked.be.