QJES: 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.
QJES
Largest movements
- Cash -€16,496
down €16,496 (-32.9%), from €50,192 to €33,696
mainly Contributions, distributions and other (-€17,792) and Receivables within one year (-€9,113)
- Receivables within one year +€9,113
up €9,113 (+104%), from €8,750 to €17,863
of which Other amounts receivable: +€11,289
- Tangible fixed assets -€6,498
down €6,498 (-26.7%), from €24,365 to €17,867
of which Furniture and vehicles: -€6,849
- Tax, wage and social debts -€6,148
down €6,148 (-36.3%), from €16,948 to €10,801
- Current portion of long-term debt -€3,825
down €3,825 (-74.6%), from €5,128 to €1,304
- Trade debts -€2,003
down €2,003 (-40.1%), from €4,991 to €2,987
- Debts after one year -€1,304
no longer reported in 2025 (was €1,304)
- Gross operating margin -€24,279
down €24,279 (-39.1%), from €62,033 to €37,754
- Taxes -€8,036
down €8,036 (-50.1%), from €16,044 to €8,007
- Depreciation -€3,304
down €3,304 (-30.4%), from €10,885 to €7,581
- Other operating charges -€1,080
down €1,080 (-28.0%), from €3,857 to €2,777
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 | €86,025 | €72,144 | -€13,881 | -16.1% |
| Fixed assets | 21/28 | €27,082 | €20,584 | -€6,498 | -24.0% |
| Tangible fixed assets | 22/27 | €24,365 | €17,867 | -€6,498 | -26.7% |
| Land and buildings | 22 | €1,168 | €876 | -€292 | -25.0% |
| Plant, machinery and equipment | 23 | €1,507 | €2,149 | +€643 | +42.7% |
| Furniture and vehicles | 24 | €21,690 | €14,842 | -€6,849 | -31.6% |
| Financial fixed assets | 28 | €2,717 | €2,717 | = | 0.0% |
| Current assets | 29/58 | €58,942 | €51,559 | -€7,383 | -12.5% |
| Amounts receivable within one year | 40/41 | €8,750 | €17,863 | +€9,113 | +104% |
| Trade receivables | 40 | €2,390 | €214 | -€2,176 | -91.0% |
| Other amounts receivable | 41 | €6,360 | €17,649 | +€11,289 | +177% |
| Cash at bank and in hand | 54/58 | €50,192 | €33,696 | -€16,496 | -32.9% |
| Total equity and liabilities | 10/49 | €86,025 | €72,144 | -€13,881 | -16.1% |
| Equity | 10/15 | €41,929 | €41,929 | = | 0.0% |
| Contributions | 10/11 | €12,110 | €12,110 | = | 0.0% |
| Reserves | 13 | €29,819 | €29,819 | = | 0.0% |
| Distributable reserves | 133 | €29,819 | €29,819 | = | 0.0% |
| Amounts payable | 17/49 | €44,096 | €30,215 | -€13,881 | -31.5% |
| Amounts payable after more than one year | 17 | €1,304 | - | -€1,304 | |
| Financial debts | 170/4 | €1,304 | - | -€1,304 | |
| Amounts payable within one year | 42/48 | €42,792 | €30,215 | -€12,578 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €5,128 | €1,304 | -€3,825 | -74.6% |
| Trade debts | 44 | €4,991 | €2,987 | -€2,003 | -40.1% |
| Suppliers | 440/4 | €4,991 | €2,987 | -€2,003 | -40.1% |
| Taxes, remuneration and social security | 45 | €16,948 | €10,801 | -€6,148 | -36.3% |
| Taxes | 450/3 | €16,948 | €10,801 | -€6,148 | -36.3% |
| Other amounts payable | 47/48 | €15,725 | €15,124 | -€601 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,885 | €7,581 | -€3,304 | -30.4% |
| Other operating charges | 640/8 | €3,857 | €2,777 | -€1,080 | -28.0% |
| Gross operating margin | 9900 | €62,033 | €37,754 | -€24,279 | -39.1% |
| Operating profit (loss) | 9901 | €47,292 | €27,397 | -€19,895 | -42.1% |
| Financial income | 75/76B | €685 | €369 | -€316 | -46.1% |
| Recurring financial income | 75 | €685 | €369 | -€316 | -46.1% |
| Financial charges | 65/66B | €1,439 | €1,966 | +€527 | +36.6% |
| Recurring financial charges | 65 | €1,439 | €1,966 | +€527 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €46,537 | €25,800 | -€20,737 | -44.6% |
| Income taxes | 67/77 | €16,044 | €8,007 | -€8,036 | -50.1% |
| Profit (loss) for the period | 9904 | €30,494 | €17,792 | -€12,701 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,494 | €17,792 | -€12,701 | -41.7% |
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 17 October 2026 via checked.be.