Qinexo: what changed
Qinexo
Largest movements
- Receivables within one year +€376,367
up €376,367 (+58.5%), from €643,102 to €1.0m
of which Other amounts receivable: +€441,448
- Deferred charges and accrued income +€37,695
up €37,695 (+12.3%), from €305,338 to €343,033
- Cash +€28,401
up €28,401 (+512%), from €5,545 to €33,946
mainly Net result for the year (+€321,498) and Tax, wage and social debts (+€51,169)
- Reserves +€321,150
up €321,150 (+62.2%), from €516,100 to €837,250
of which Distributable reserves: +€258,000
- Tax, wage and social debts +€51,169
up €51,169 (+46.2%), from €110,710 to €161,879
of which Remuneration and social security: +€26,342
- Accrued charges and deferred income +€31,305
up €31,305 (+124%), from €25,271 to €56,576
- Trade debts +€29,553
up €29,553 (+12.3%), from €240,405 to €269,958
- Turnover +€1.2m
up €1.2m (+43.7%), from €2.7m to €3.8m
- Purchases and services +€820,527
up €820,527 (+43.9%), from €1.9m to €2.7m
- Gross operating margin +€351,736
up €351,736 (+43.4%), from €810,794 to €1.2m
- Taxes +€74,180
up €74,180 (+191%), from €38,914 to €113,094
- Staff costs +€69,259
up €69,259 (+10.8%), from €639,536 to €708,795
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €968,219 | €1,406,726 | +€438,507 | +45.3% |
| Fixed assets | 21/28 | €14,234 | €10,278 | -€3,955 | -27.8% |
| Tangible fixed assets | 22/27 | €14,234 | €10,278 | -€3,955 | -27.8% |
| Plant, machinery and equipment | 23 | €13,687 | €9,996 | -€3,691 | -27.0% |
| Furniture and vehicles | 24 | €546 | €282 | -€264 | -48.4% |
| Current assets | 29/58 | €953,985 | €1,396,447 | +€442,462 | +46.4% |
| Amounts receivable within one year | 40/41 | €643,102 | €1,019,468 | +€376,367 | +58.5% |
| Trade receivables | 40 | €371,222 | €306,141 | -€65,081 | -17.5% |
| Other amounts receivable | 41 | €271,879 | €713,327 | +€441,448 | +162% |
| Cash at bank and in hand | 54/58 | €5,545 | €33,946 | +€28,401 | +512% |
| Deferred charges and accrued income | 490/1 | €305,338 | €343,033 | +€37,695 | +12.3% |
| Total equity and liabilities | 10/49 | €968,219 | €1,406,726 | +€438,507 | +45.3% |
| Equity | 10/15 | €578,202 | €899,700 | +€321,498 | +55.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €516,100 | €837,250 | +€321,150 | +62.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €105,250 | +€63,150 | +150% |
| Distributable reserves | 133 | €467,800 | €725,800 | +€258,000 | +55.2% |
| Profit (loss) carried forward | 14 | €102 | €450 | +€348 | +342% |
| Provisions and deferred taxes | 16 | €3,630 | €3,613 | -€18 | -0.5% |
| Provisions for liabilities and charges | 160/5 | €3,630 | €3,613 | -€18 | -0.5% |
| Pensions and similar obligations | 160 | €3,630 | €3,613 | -€18 | -0.5% |
| Amounts payable | 17/49 | €386,387 | €503,413 | +€117,026 | +30.3% |
| Amounts payable within one year | 42/48 | €361,115 | €446,837 | +€85,722 | +23.7% |
| Trade debts | 44 | €240,405 | €269,958 | +€29,553 | +12.3% |
| Suppliers | 440/4 | €240,405 | €269,958 | +€29,553 | +12.3% |
| Taxes, remuneration and social security | 45 | €110,710 | €161,879 | +€51,169 | +46.2% |
| Taxes | 450/3 | €28,319 | €53,145 | +€24,826 | +87.7% |
| Remuneration and social security | 454/9 | €82,392 | €108,734 | +€26,342 | +32.0% |
| Other amounts payable | 47/48 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Accrued charges and deferred income | 492/3 | €25,271 | €56,576 | +€31,305 | +124% |
| Turnover | 70 | €2,664,760 | €3,829,389 | +€1.2m | +43.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,868,012 | €2,688,538 | +€820,527 | +43.9% |
| Remuneration, social security and pensions | 62 | €639,536 | €708,795 | +€69,259 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,503 | €8,137 | +€1,634 | +25.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €463 | -€18 | -€481 | |
| Other operating charges | 640/8 | €5,474 | €3,060 | -€2,414 | -44.1% |
| Gross operating margin | 9900 | €810,794 | €1,162,531 | +€351,736 | +43.4% |
| Operating profit (loss) | 9901 | €158,818 | €442,556 | +€283,737 | +179% |
| Financial income | 75/76B | €1,112 | €2,336 | +€1,224 | +110% |
| Recurring financial income | 75 | €1,112 | €2,336 | +€1,224 | +110% |
| Financial charges | 65/66B | €11,478 | €10,299 | -€1,179 | -10.3% |
| Recurring financial charges | 65 | €11,478 | €10,299 | -€1,179 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €148,452 | €434,592 | +€286,140 | +193% |
| Income taxes | 67/77 | €38,914 | €113,094 | +€74,180 | +191% |
| Profit (loss) for the period | 9904 | €109,538 | €321,498 | +€211,960 | +194% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €63,150 | +€21,050 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,438 | €258,348 | +€190,910 | +283% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.