QING-WEI: 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.
QING-WEI
Largest movements
- Tangible fixed assets -€51,493
down €51,493 (-14.2%), from €363,139 to €311,646
of which Other tangible fixed assets: -€40,000
- Receivables within one year +€19,788
up €19,788 (+196.6%), from €10,063 to €29,851
of which Other amounts receivable: +€11,910
- Cash +€15,512
up €15,512 (+8.2%), from €188,433 to €203,945
mainly Depreciation (+€53,866) and Trade debts (+€32,237)
- Debts after one year -€40,393
down €40,393 (-26.9%), from €149,927 to €109,534
- Trade debts +€32,237
up €32,237 (+83.0%), from €38,828 to €71,066
- Tax, wage and social debts -€14,225
down €14,225 (-23.9%), from €59,471 to €45,246
of which Remuneration and social security: -€9,801
- Reserves +€12,070
up €12,070 (+7.5%), from €159,908 to €171,978
- Gross operating margin -€47,593
down €47,593 (-7.5%), from €630,588 to €582,995
- Taxes -€24,364
down €24,364 (-80.0%), from €30,453 to €6,090
- Staff costs -€8,925
down €8,925 (-2.0%), from €452,229 to €443,304
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 | €584,324 | €570,418 | -€13,907 | -2.4% |
| Fixed assets | 21/28 | €363,139 | €311,646 | -€51,493 | -14.2% |
| Tangible fixed assets | 22/27 | €363,139 | €311,646 | -€51,493 | -14.2% |
| Plant, machinery and equipment | 23 | €40,586 | €37,254 | -€3,332 | -8.2% |
| Furniture and vehicles | 24 | €26,005 | €17,843 | -€8,161 | -31.4% |
| Other tangible fixed assets | 26 | €296,548 | €256,548 | -€40,000 | -13.5% |
| Current assets | 29/58 | €221,185 | €258,772 | +€37,587 | +17.0% |
| Stocks and contracts in progress | 3 | €22,115 | €24,377 | +€2,261 | +10.2% |
| Stocks | 30/36 | €22,115 | €24,377 | +€2,261 | +10.2% |
| Amounts receivable within one year | 40/41 | €10,063 | €29,851 | +€19,788 | +196.6% |
| Trade receivables | 40 | €10,063 | €17,940 | +€7,877 | +78.3% |
| Other amounts receivable | 41 | - | €11,910 | +€11,910 | |
| Cash at bank and in hand | 54/58 | €188,433 | €203,945 | +€15,512 | +8.2% |
| Deferred charges and accrued income | 490/1 | €574 | €600 | +€26 | +4.6% |
| Total equity and liabilities | 10/49 | €584,324 | €570,418 | -€13,907 | -2.4% |
| Equity | 10/15 | €279,908 | €291,978 | +€12,070 | +4.3% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €159,908 | €171,978 | +€12,070 | +7.5% |
| Distributable reserves | 133 | €159,908 | €171,978 | +€12,070 | +7.5% |
| Amounts payable | 17/49 | €304,416 | €278,440 | -€25,976 | -8.5% |
| Amounts payable after more than one year | 17 | €149,927 | €109,534 | -€40,393 | -26.9% |
| Financial debts | 170/4 | €149,927 | €109,534 | -€40,393 | -26.9% |
| Amounts payable within one year | 42/48 | €152,160 | €166,398 | +€14,239 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €39,318 | €40,393 | +€1,075 | +2.7% |
| Trade debts | 44 | €38,828 | €71,066 | +€32,237 | +83.0% |
| Suppliers | 440/4 | €38,828 | €71,066 | +€32,237 | +83.0% |
| Taxes, remuneration and social security | 45 | €59,471 | €45,246 | -€14,225 | -23.9% |
| Taxes | 450/3 | €36,649 | €32,224 | -€4,425 | -12.1% |
| Remuneration and social security | 454/9 | €22,822 | €13,022 | -€9,801 | -42.9% |
| Other amounts payable | 47/48 | €14,542 | €9,694 | -€4,848 | -33.3% |
| Accrued charges and deferred income | 492/3 | €2,329 | €2,507 | +€178 | +7.7% |
| Non-recurring operating income | 76A | €7,868 | €20,151 | +€12,283 | +156.1% |
| Remuneration, social security and pensions | 62 | €452,229 | €443,304 | -€8,925 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,616 | €53,866 | +€250 | +0.5% |
| Non-recurring operating charges | 66A | €6,024 | €54,487 | +€48,464 | +804.6% |
| Gross operating margin | 9900 | €630,588 | €582,995 | -€47,593 | -7.5% |
| Operating profit (loss) | 9901 | €118,719 | €31,338 | -€87,382 | -73.6% |
| Financial income | 75/76B | €212 | €972 | +€760 | +359.2% |
| Recurring financial income | 75 | €212 | €972 | +€760 | +359.2% |
| Financial charges | 65/66B | €13,907 | €14,150 | +€244 | +1.8% |
| Recurring financial charges | 65 | €13,907 | €14,150 | +€244 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €105,024 | €18,159 | -€86,865 | -82.7% |
| Income taxes | 67/77 | €30,453 | €6,090 | -€24,364 | -80.0% |
| Profit (loss) for the period | 9904 | €74,571 | €12,070 | -€62,502 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €74,571 | €12,070 | -€62,502 | -83.8% |
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 8 October 2026 via checked.be.