QLN: 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.
QLN
Largest movements
- Tangible fixed assets -€126,737
down €126,737 (-7.1%), from €1.8m to €1.7m
- Cash +€120,926
up €120,926 (+142.1%), from €85,124 to €206,049
mainly Depreciation (+€126,737) and Net result for the year (+€86,308)
- Receivables within one year -€33,153
down €33,153 (-9.2%), from €362,277 to €329,125
of which Trade receivables: -€47,213
- Debts after one year -€187,199
down €187,199 (-14.3%), from €1.3m to €1.1m
- Profit (loss) carried forward +€86,308
up €86,308 (+62.4%), from -€138,268 to -€51,960
- Other debts +€68,016
up €68,016 (+7.0%), from €968,644 to €1.0m
- Financial charges +€44,931
up €44,931 (+111.9%), from €40,159 to €85,090
- Gross operating margin +€23,512
up €23,512 (+7.6%), from €310,654 to €334,166
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 | €2,638,416 | €2,600,102 | -€38,313 | -1.5% |
| Fixed assets | 21/28 | €2,188,207 | €2,061,469 | -€126,737 | -5.8% |
| Tangible fixed assets | 22/27 | €1,779,007 | €1,652,269 | -€126,737 | -7.1% |
| Land and buildings | 22 | €1,779,007 | €1,652,269 | -€126,737 | -7.1% |
| Financial fixed assets | 28 | €409,200 | €409,200 | = | 0.0% |
| Current assets | 29/58 | €450,209 | €538,633 | +€88,424 | +19.6% |
| Amounts receivable within one year | 40/41 | €362,277 | €329,125 | -€33,153 | -9.2% |
| Trade receivables | 40 | €47,213 | €0 | -€47,213 | -100.0% |
| Other amounts receivable | 41 | €315,064 | €329,125 | +€14,060 | +4.5% |
| Cash at bank and in hand | 54/58 | €85,124 | €206,049 | +€120,926 | +142.1% |
| Deferred charges and accrued income | 490/1 | €2,808 | €3,459 | +€651 | +23.2% |
| Total equity and liabilities | 10/49 | €2,638,416 | €2,600,102 | -€38,313 | -1.5% |
| Equity | 10/15 | €161,732 | €248,040 | +€86,308 | +53.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,268 | -€51,960 | +€86,308 | +62.4% |
| Amounts payable | 17/49 | €2,476,684 | €2,352,063 | -€124,622 | -5.0% |
| Amounts payable after more than one year | 17 | €1,313,629 | €1,126,430 | -€187,199 | -14.3% |
| Financial debts | 170/4 | €1,313,629 | €1,126,430 | -€187,199 | -14.3% |
| Amounts payable within one year | 42/48 | €1,152,681 | €1,224,031 | +€71,350 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €183,880 | €187,199 | +€3,319 | +1.8% |
| Trade debts | 44 | €157 | €173 | +€15 | +9.7% |
| Suppliers | 440/4 | €157 | €173 | +€15 | +9.7% |
| Other amounts payable | 47/48 | €968,644 | €1,036,660 | +€68,016 | +7.0% |
| Accrued charges and deferred income | 492/3 | €10,374 | €1,601 | -€8,773 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,737 | €126,737 | = | 0.0% |
| Other operating charges | 640/8 | €39,156 | €40,742 | +€1,586 | +4.0% |
| Gross operating margin | 9900 | €310,654 | €334,166 | +€23,512 | +7.6% |
| Operating profit (loss) | 9901 | €144,761 | €166,687 | +€21,926 | +15.1% |
| Financial income | 75/76B | €3,690 | €4,712 | +€1,022 | +27.7% |
| Recurring financial income | 75 | €3,690 | €4,712 | +€1,022 | +27.7% |
| Financial charges | 65/66B | €40,159 | €85,090 | +€44,931 | +111.9% |
| Recurring financial charges | 65 | €40,159 | €85,090 | +€44,931 | +111.9% |
| Profit (loss) for the period before taxes | 9903 | €108,292 | €86,308 | -€21,983 | -20.3% |
| Profit (loss) for the period | 9904 | €108,292 | €86,308 | -€21,983 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,292 | €86,308 | -€21,983 | -20.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.