QKDM: 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.
QKDM
Largest movements
- Cash +€39,449
up €39,449 (+242%), from €16,295 to €55,744
mainly Net result for the year (+€34,241) and Receivables within one year (+€3,194)
- Receivables within one year -€3,194
down €3,194 (-9.8%), from €32,452 to €29,258
of which Trade receivables: -€3,194
- Deferred charges and accrued income -€2,007
down €2,007 (-63.5%), from €3,159 to €1,152
- Reserves +€34,241
up €34,241 (+138%), from €24,769 to €59,010
- Tax, wage and social debts -€2,222
down €2,222 (-11.6%), from €19,150 to €16,928
of which Taxes: -€2,222
- Other debts +€1,578
up €1,578 (+38.6%), from €4,088 to €5,665
- Gross operating margin +€13,401
up €13,401 (+36.7%), from €36,503 to €49,904
- Taxes +€3,992
up €3,992 (+37.5%), from €10,648 to €14,640
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 | €51,906 | €86,154 | +€34,247 | +66.0% |
| Current assets | 29/58 | €51,906 | €86,154 | +€34,247 | +66.0% |
| Amounts receivable within one year | 40/41 | €32,452 | €29,258 | -€3,194 | -9.8% |
| Trade receivables | 40 | €32,452 | €29,258 | -€3,194 | -9.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,295 | €55,744 | +€39,449 | +242% |
| Deferred charges and accrued income | 490/1 | €3,159 | €1,152 | -€2,007 | -63.5% |
| Total equity and liabilities | 10/49 | €51,906 | €86,154 | +€34,247 | +66.0% |
| Equity | 10/15 | €27,769 | €62,010 | +€34,241 | +123% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,769 | €59,010 | +€34,241 | +138% |
| Distributable reserves | 133 | €24,769 | €59,010 | +€34,241 | +138% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €24,138 | €24,144 | +€6 | 0.0% |
| Amounts payable within one year | 42/48 | €24,138 | €24,144 | +€6 | 0.0% |
| Trade debts | 44 | €900 | €1,550 | +€650 | +72.3% |
| Suppliers | 440/4 | €900 | €1,550 | +€650 | +72.3% |
| Taxes, remuneration and social security | 45 | €19,150 | €16,928 | -€2,222 | -11.6% |
| Taxes | 450/3 | €19,150 | €16,928 | -€2,222 | -11.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,088 | €5,665 | +€1,578 | +38.6% |
| Remuneration, social security and pensions | 62 | €150 | €160 | +€10 | +6.8% |
| Other operating charges | 640/8 | €420 | €484 | +€64 | +15.3% |
| Non-recurring operating charges | 66A | €60 | €0 | -€60 | -100% |
| Gross operating margin | 9900 | €36,503 | €49,904 | +€13,401 | +36.7% |
| Operating profit (loss) | 9901 | €35,873 | €49,259 | +€13,387 | +37.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6 | €378 | +€372 | +6,733% |
| Recurring financial charges | 65 | €6 | €378 | +€372 | +6,733% |
| Profit (loss) for the period before taxes | 9903 | €35,867 | €48,882 | +€13,014 | +36.3% |
| Income taxes | 67/77 | €10,648 | €14,640 | +€3,992 | +37.5% |
| Profit (loss) for the period | 9904 | €25,219 | €34,241 | +€9,022 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,219 | €34,241 | +€9,022 | +35.8% |
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 13 October 2026 via checked.be.