QMINO: 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.
QMINO
Largest movements
- Receivables within one year +€114,511
up €114,511 (+44.5%), from €257,077 to €371,588
of which Trade receivables: +€105,257
- Tangible fixed assets -€24,577
down €24,577 (-50.9%), from €48,292 to €23,715
of which Furniture and vehicles: -€22,402
- Cash +€6,670
up €6,670 (+3.8%), from €176,353 to €183,023
mainly Trade debts (+€109,431) and Net result for the year (+€46,998)
- Trade debts +€109,431
up €109,431 (+80.4%), from €136,062 to €245,493
- Tax, wage and social debts -€51,705
down €51,705 (-32.9%), from €157,386 to €105,681
of which Remuneration and social security: -€37,367
- Reserves +€46,998
up €46,998 (+27.7%), from €169,559 to €216,557
of which Distributable reserves: +€46,998
- Accrued charges and deferred income -€10,590
down €10,590 (-100.0%), from €10,590 to €0
- Staff costs -€109,852
down €109,852 (-12.1%), from €906,226 to €796,373
- Gross operating margin -€76,887
down €76,887 (-7.8%), from €988,257 to €911,370
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 | €494,783 | €589,050 | +€94,267 | +19.1% |
| Fixed assets | 21/28 | €50,962 | €26,385 | -€24,577 | -48.2% |
| Tangible fixed assets | 22/27 | €48,292 | €23,715 | -€24,577 | -50.9% |
| Plant, machinery and equipment | 23 | €3,245 | €2,393 | -€852 | -26.3% |
| Furniture and vehicles | 24 | €43,645 | €21,243 | -€22,402 | -51.3% |
| Other tangible fixed assets | 26 | €1,402 | €79 | -€1,323 | -94.4% |
| Financial fixed assets | 28 | €2,670 | €2,670 | = | 0.0% |
| Current assets | 29/58 | €443,821 | €562,665 | +€118,844 | +26.8% |
| Amounts receivable within one year | 40/41 | €257,077 | €371,588 | +€114,511 | +44.5% |
| Trade receivables | 40 | €257,036 | €362,294 | +€105,257 | +41.0% |
| Other amounts receivable | 41 | €40 | €9,294 | +€9,254 | +23014.1% |
| Cash at bank and in hand | 54/58 | €176,353 | €183,023 | +€6,670 | +3.8% |
| Deferred charges and accrued income | 490/1 | €10,391 | €8,053 | -€2,338 | -22.5% |
| Total equity and liabilities | 10/49 | €494,783 | €589,050 | +€94,267 | +19.1% |
| Equity | 10/15 | €190,559 | €237,557 | +€46,998 | +24.7% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €169,559 | €216,557 | +€46,998 | +27.7% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Distributable reserves | 133 | €167,459 | €214,457 | +€46,998 | +28.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €304,223 | €351,492 | +€47,269 | +15.5% |
| Amounts payable within one year | 42/48 | €293,634 | €351,492 | +€57,858 | +19.7% |
| Trade debts | 44 | €136,062 | €245,493 | +€109,431 | +80.4% |
| Suppliers | 440/4 | €136,062 | €245,493 | +€109,431 | +80.4% |
| Taxes, remuneration and social security | 45 | €157,386 | €105,681 | -€51,705 | -32.9% |
| Taxes | 450/3 | €59,526 | €45,188 | -€14,338 | -24.1% |
| Remuneration and social security | 454/9 | €97,860 | €60,493 | -€37,367 | -38.2% |
| Other amounts payable | 47/48 | €186 | €318 | +€133 | +71.4% |
| Accrued charges and deferred income | 492/3 | €10,590 | €0 | -€10,590 | -100.0% |
| Non-recurring operating income | 76A | - | €39,465 | +€39,465 | |
| Remuneration, social security and pensions | 62 | €906,226 | €796,373 | -€109,852 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,295 | €19,794 | -€5,501 | -21.7% |
| Other operating charges | 640/8 | €4,069 | €3,614 | -€455 | -11.2% |
| Non-recurring operating charges | 66A | - | €3,045 | +€3,045 | |
| Gross operating margin | 9900 | €988,257 | €911,370 | -€76,887 | -7.8% |
| Operating profit (loss) | 9901 | €52,667 | €88,544 | +€35,876 | +68.1% |
| Financial income | 75/76B | €592 | €252 | -€340 | -57.5% |
| Recurring financial income | 75 | €592 | €252 | -€340 | -57.5% |
| Financial charges | 65/66B | €10,897 | €9,560 | -€1,337 | -12.3% |
| Recurring financial charges | 65 | €10,897 | €9,560 | -€1,337 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €42,362 | €79,236 | +€36,873 | +87.0% |
| Income taxes | 67/77 | €23,305 | €32,237 | +€8,933 | +38.3% |
| Profit (loss) for the period | 9904 | €19,057 | €46,998 | +€27,941 | +146.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,057 | €46,998 | +€27,941 | +146.6% |
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 9 October 2026 via checked.be.