QMRR: 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.
QMRR
Largest movements
- Receivables within one year -€8,435
down €8,435 (-69.7%), from €12,109 to €3,675
of which Trade receivables: -€9,913
- Cash +€6,208
up €6,208 (+359.9%), from €1,725 to €7,934
mainly Receivables within one year (+€8,435) and Other debts (+€6,880)
- Deferred charges and accrued income +€2,474
new in 2025: €2,474
- Stocks and contracts +€2,146
up €2,146 (+18.4%), from €11,679 to €13,825
- Other debts +€6,880
up €6,880 (+93.0%), from €7,395 to €14,276
- Trade debts -€6,025
down €6,025 (-71.6%), from €8,410 to €2,384
- Profit (loss) carried forward +€1,539
up €1,539 (+50.9%), from €3,024 to €4,563
- Gross operating margin +€8,236
up €8,236, from -€6,691 to €1,545
- Taxes -€483
down €483, from €447 to -€36
- Depreciation -€410
no longer reported in 2025 (was €410)
- Other operating charges -€156
no longer reported in 2025 (was €156)
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 | €25,513 | €27,908 | +€2,394 | +9.4% |
| Current assets | 29/58 | €25,513 | €27,908 | +€2,394 | +9.4% |
| Stocks and contracts in progress | 3 | €11,679 | €13,825 | +€2,146 | +18.4% |
| Stocks | 30/36 | €11,679 | €13,825 | +€2,146 | +18.4% |
| Amounts receivable within one year | 40/41 | €12,109 | €3,675 | -€8,435 | -69.7% |
| Trade receivables | 40 | €10,892 | €979 | -€9,913 | -91.0% |
| Other amounts receivable | 41 | €1,217 | €2,695 | +€1,478 | +121.5% |
| Cash at bank and in hand | 54/58 | €1,725 | €7,934 | +€6,208 | +359.9% |
| Deferred charges and accrued income | 490/1 | - | €2,474 | +€2,474 | |
| Total equity and liabilities | 10/49 | €25,513 | €27,908 | +€2,394 | +9.4% |
| Equity | 10/15 | €9,708 | €11,248 | +€1,539 | +15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €485 | €485 | = | 0.0% |
| Distributable reserves | 133 | €485 | €485 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,024 | €4,563 | +€1,539 | +50.9% |
| Amounts payable | 17/49 | €15,805 | €16,660 | +€855 | +5.4% |
| Amounts payable within one year | 42/48 | €15,805 | €16,660 | +€855 | +5.4% |
| Trade debts | 44 | €8,410 | €2,384 | -€6,025 | -71.6% |
| Suppliers | 440/4 | €8,410 | €2,384 | -€6,025 | -71.6% |
| Other amounts payable | 47/48 | €7,395 | €14,276 | +€6,880 | +93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410 | - | -€410 | |
| Other operating charges | 640/8 | €156 | - | -€156 | |
| Gross operating margin | 9900 | -€6,691 | €1,545 | +€8,236 | |
| Operating profit (loss) | 9901 | -€7,257 | €1,545 | +€8,802 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €68 | €45 | -€23 | -33.9% |
| Recurring financial charges | 65 | €68 | €45 | -€23 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,325 | €1,503 | +€8,829 | |
| Income taxes | 67/77 | €447 | -€36 | -€483 | |
| Profit (loss) for the period | 9904 | -€7,772 | €1,539 | +€9,312 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,772 | €1,539 | +€9,312 |
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.