QM2DL: 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.
QM2DL
Largest movements
- Cash -€35,120
down €35,120 (-56.2%), from €62,480 to €27,360
mainly Contributions, distributions and other (-€47,704) and Receivables within one year (-€16,443)
- Receivables within one year +€16,443
up €16,443 (+78.2%), from €21,023 to €37,466
of which Trade receivables: +€27,294
- Deferred charges and accrued income +€996
new in 2025: €996
- Tax, wage and social debts -€15,552
down €15,552 (-21.2%), from €73,299 to €57,747
- Trade debts -€4,481
down €4,481 (-72.2%), from €6,204 to €1,723
- Profit (loss) carried forward +€2,352
up €2,352, from €0 to €2,352
- Financial charges +€32,931
up €32,931 (+3817.3%), from €863 to €33,793
- Taxes -€7,997
down €7,997 (-35.2%), from €22,730 to €14,733
- Gross operating margin -€6,138
down €6,138 (-5.9%), from €104,754 to €98,616
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 | €83,503 | €65,822 | -€17,681 | -21.2% |
| Current assets | 29/58 | €83,503 | €65,822 | -€17,681 | -21.2% |
| Amounts receivable within one year | 40/41 | €21,023 | €37,466 | +€16,443 | +78.2% |
| Trade receivables | 40 | €10,164 | €37,458 | +€27,294 | +268.5% |
| Other amounts receivable | 41 | €10,859 | €8 | -€10,851 | -99.9% |
| Cash at bank and in hand | 54/58 | €62,480 | €27,360 | -€35,120 | -56.2% |
| Deferred charges and accrued income | 490/1 | - | €996 | +€996 | |
| Total equity and liabilities | 10/49 | €83,503 | €65,822 | -€17,681 | -21.2% |
| Equity | 10/15 | €4,000 | €6,352 | +€2,352 | +58.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €2,352 | +€2,352 | |
| Amounts payable | 17/49 | €79,503 | €59,470 | -€20,033 | -25.2% |
| Amounts payable within one year | 42/48 | €79,503 | €59,470 | -€20,033 | -25.2% |
| Trade debts | 44 | €6,204 | €1,723 | -€4,481 | -72.2% |
| Suppliers | 440/4 | €6,204 | €1,723 | -€4,481 | -72.2% |
| Taxes, remuneration and social security | 45 | €73,299 | €57,747 | -€15,552 | -21.2% |
| Taxes | 450/3 | €73,299 | €57,747 | -€15,552 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €96 | €117 | +€21 | +21.8% |
| Gross operating margin | 9900 | €104,754 | €98,616 | -€6,138 | -5.9% |
| Operating profit (loss) | 9901 | €104,658 | €98,499 | -€6,159 | -5.9% |
| Financial income | 75/76B | €1 | €83 | +€82 | +9684.7% |
| Recurring financial income | 75 | €1 | €83 | +€82 | +9684.7% |
| Financial charges | 65/66B | €863 | €33,793 | +€32,931 | +3817.3% |
| Recurring financial charges | 65 | €863 | €33,793 | +€32,931 | +3817.3% |
| Profit (loss) for the period before taxes | 9903 | €103,796 | €64,789 | -€39,007 | -37.6% |
| Income taxes | 67/77 | €22,730 | €14,733 | -€7,997 | -35.2% |
| Profit (loss) for the period | 9904 | €81,066 | €50,056 | -€31,010 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,066 | €50,056 | -€31,010 | -38.3% |
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 1 October 2026 via checked.be.