Qinami: what changed
Two fiscal 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.
Qinami
Largest movements
- Cash +€51,520
up €51,520 (+27.7%), from €186,268 to €237,789
mainly Net result for the year (+€54,668) and Depreciation (+€19,632)
- Receivables within one year +€21,099
up €21,099 (+382.7%), from €5,514 to €26,613
of which Trade receivables: +€18,218
- Intangible fixed assets -€10,000
down €10,000 (-15.6%), from €63,953 to €53,953
- Tangible fixed assets +€5,758
up €5,758 (+17.1%), from €33,692 to €39,450
of which Plant, machinery and equipment: +€6,711
- Reserves +€49,000
up €49,000 (+122.5%), from €40,000 to €89,000
- Trade debts +€12,493
up €12,493 (+184.5%), from €6,773 to €19,266
- Tax, wage and social debts +€7,179
up €7,179 (+12.0%), from €59,668 to €66,847
of which Taxes: +€5,381
- Other debts -€6,330
no longer reported in 2025 (was €6,330)
- Profit (loss) carried forward +€5,668
up €5,668 (+3.4%), from €169,121 to €174,789
- Turnover -€450,429
no longer reported in 2025 (was €450,429)
- Gross operating margin +€30,198
up €30,198 (+23.5%), from €128,233 to €158,431
- Staff costs +€27,313
up €27,313 (+96.1%), from €28,420 to €55,733
- Purchases and services +€16,073
up €16,073 (+4.9%), from €329,855 to €345,928
- Taxes -€7,952
down €7,952 (-22.3%), from €35,659 to €27,707
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 | €301,892 | €369,902 | +€68,010 | +22.5% |
| Formation expenses | 20 | €597 | €355 | -€242 | -40.5% |
| Fixed assets | 21/28 | €108,500 | €104,258 | -€4,242 | -3.9% |
| Intangible fixed assets | 21 | €63,953 | €53,953 | -€10,000 | -15.6% |
| Tangible fixed assets | 22/27 | €33,692 | €39,450 | +€5,758 | +17.1% |
| Plant, machinery and equipment | 23 | €14,832 | €21,543 | +€6,711 | +45.2% |
| Furniture and vehicles | 24 | €18,859 | €17,907 | -€952 | -5.1% |
| Financial fixed assets | 28 | €10,855 | €10,855 | = | 0.0% |
| Current assets | 29/58 | €192,795 | €265,289 | +€72,494 | +37.6% |
| Stocks and contracts in progress | 3 | €1,013 | €888 | -€126 | -12.4% |
| Stocks | 30/36 | €1,013 | €888 | -€126 | -12.4% |
| Amounts receivable within one year | 40/41 | €5,514 | €26,613 | +€21,099 | +382.7% |
| Trade receivables | 40 | €2,975 | €21,193 | +€18,218 | +612.3% |
| Other amounts receivable | 41 | €2,539 | €5,420 | +€2,881 | +113.5% |
| Cash at bank and in hand | 54/58 | €186,268 | €237,789 | +€51,520 | +27.7% |
| Total equity and liabilities | 10/49 | €301,892 | €369,902 | +€68,010 | +22.5% |
| Equity | 10/15 | €229,121 | €283,789 | +€54,668 | +23.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €89,000 | +€49,000 | +122.5% |
| Distributable reserves | 133 | €40,000 | €89,000 | +€49,000 | +122.5% |
| Profit (loss) carried forward | 14 | €169,121 | €174,789 | +€5,668 | +3.4% |
| Amounts payable | 17/49 | €72,770 | €86,113 | +€13,342 | +18.3% |
| Amounts payable within one year | 42/48 | €72,770 | €86,113 | +€13,342 | +18.3% |
| Trade debts | 44 | €6,773 | €19,266 | +€12,493 | +184.5% |
| Suppliers | 440/4 | €6,773 | €19,266 | +€12,493 | +184.5% |
| Taxes, remuneration and social security | 45 | €59,668 | €66,847 | +€7,179 | +12.0% |
| Taxes | 450/3 | €52,955 | €58,336 | +€5,381 | +10.2% |
| Remuneration and social security | 454/9 | €6,714 | €8,512 | +€1,798 | +26.8% |
| Other amounts payable | 47/48 | €6,330 | - | -€6,330 | |
| Turnover | 70 | €450,429 | - | -€450,429 | |
| Goods, raw materials, services and sundry goods | 60/61 | €329,855 | €345,928 | +€16,073 | +4.9% |
| Remuneration, social security and pensions | 62 | €28,420 | €55,733 | +€27,313 | +96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,028 | €19,632 | +€5,604 | +39.9% |
| Other operating charges | 640/8 | €1,055 | €640 | -€415 | -39.3% |
| Gross operating margin | 9900 | €128,233 | €158,431 | +€30,198 | +23.5% |
| Operating profit (loss) | 9901 | €84,729 | €82,426 | -€2,303 | -2.7% |
| Financial charges | 65/66B | €3,676 | €51 | -€3,626 | -98.6% |
| Recurring financial charges | 65 | €3,676 | €51 | -€3,626 | -98.6% |
| Profit (loss) for the period before taxes | 9903 | €81,053 | €82,375 | +€1,322 | +1.6% |
| Income taxes | 67/77 | €35,659 | €27,707 | -€7,952 | -22.3% |
| Profit (loss) for the period | 9904 | €45,394 | €54,668 | +€9,274 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,394 | €54,668 | +€9,274 | +20.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.