QL-HOLDING: 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.
QL-HOLDING
Largest movements
- Cash -€65,872
down €65,872 (-80.6%), from €81,701 to €15,829
mainly Debts after one year (-€84,960) and Trade debts (-€22,155)
- Debts after one year -€84,960
down €84,960 (-10.2%), from €833,079 to €748,119
- Reserves +€51,381
up €51,381 (+31.5%), from €163,066 to €214,447
- Trade debts -€22,155
down €22,155 (-49.9%), from €44,392 to €22,237
- Gross operating margin -€5,281
down €5,281 (-5.6%), from €94,938 to €89,657
- Financial charges -€2,091
down €2,091 (-10.0%), from €20,884 to €18,792
- Taxes -€1,175
down €1,175 (-5.7%), from €20,443 to €19,268
- Financial income -€1,110
no longer reported in 2025 (was €1,110)
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 | €1,181,701 | €1,117,960 | -€63,741 | -5.4% |
| Fixed assets | 21/28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €81,701 | €17,960 | -€63,741 | -78.0% |
| Cash at bank and in hand | 54/58 | €81,701 | €15,829 | -€65,872 | -80.6% |
| Deferred charges and accrued income | 490/1 | - | €2,131 | +€2,131 | |
| Total equity and liabilities | 10/49 | €1,181,701 | €1,117,960 | -€63,741 | -5.4% |
| Equity | 10/15 | €173,066 | €224,447 | +€51,381 | +29.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €163,066 | €214,447 | +€51,381 | +31.5% |
| Distributable reserves | 133 | €163,066 | €214,447 | +€51,381 | +31.5% |
| Amounts payable | 17/49 | €1,008,634 | €893,513 | -€115,121 | -11.4% |
| Amounts payable after more than one year | 17 | €833,079 | €748,119 | -€84,960 | -10.2% |
| Financial debts | 170/4 | €833,079 | €748,119 | -€84,960 | -10.2% |
| Amounts payable within one year | 42/48 | €175,556 | €145,394 | -€30,161 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €82,658 | €84,960 | +€2,302 | +2.8% |
| Trade debts | 44 | €44,392 | €22,237 | -€22,155 | -49.9% |
| Suppliers | 440/4 | €44,392 | €22,237 | -€22,155 | -49.9% |
| Taxes, remuneration and social security | 45 | €45,635 | €35,065 | -€10,570 | -23.2% |
| Taxes | 450/3 | - | €30,739 | +€30,739 | |
| Remuneration and social security | 454/9 | €45,635 | €4,326 | -€41,309 | -90.5% |
| Other amounts payable | 47/48 | €2,871 | €3,133 | +€262 | +9.1% |
| Other operating charges | 640/8 | €208 | €216 | +€8 | +3.9% |
| Gross operating margin | 9900 | €94,938 | €89,657 | -€5,281 | -5.6% |
| Operating profit (loss) | 9901 | €94,730 | €89,441 | -€5,289 | -5.6% |
| Financial income | 75/76B | €1,110 | - | -€1,110 | |
| Recurring financial income | 75 | €1,110 | - | -€1,110 | |
| Financial charges | 65/66B | €20,884 | €18,792 | -€2,091 | -10.0% |
| Recurring financial charges | 65 | €20,884 | €18,792 | -€2,091 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €74,956 | €70,649 | -€4,308 | -5.7% |
| Income taxes | 67/77 | €20,443 | €19,268 | -€1,175 | -5.7% |
| Profit (loss) for the period | 9904 | €54,514 | €51,381 | -€3,133 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,514 | €51,381 | -€3,133 | -5.7% |
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 19 October 2026 via checked.be.