Qnomics: 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.
Qnomics
Largest movements
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€116,616
up €116,616 (+95.0%), from €122,787 to €239,404
mainly Other debts (+€251,156) and Current investments (+€200,000)
- Receivables within one year -€93,508
down €93,508 (-69.4%), from €134,817 to €41,309
of which Trade receivables: -€93,496
- Tangible fixed assets -€46,669
down €46,669 (-8.4%), from €554,339 to €507,670
of which Furniture and vehicles: -€30,395
- Other debts +€251,156
up €251,156 (+1,136%), from €22,104 to €273,259
- Debts after one year -€215,189
down €215,189 (-100%), from €215,189 to €0
- Reserves -€175,364
down €175,364 (-21.8%), from €803,181 to €627,818
- Tax, wage and social debts -€52,625
down €52,625 (-70.2%), from €74,997 to €22,371
of which Taxes: -€50,363
- Current portion of long-term debt -€25,618
down €25,618 (-100%), from €25,618 to €0
- Gross operating margin -€34,198
down €34,198 (-16.2%), from €210,797 to €176,599
- Taxes -€10,527
down €10,527 (-21.2%), from €49,557 to €39,030
- Depreciation -€5,279
down €5,279 (-10.7%), from €49,327 to €44,048
- Financial income +€3,658
up €3,658 (+70.4%), from €5,200 to €8,858
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 | €1,163,324 | €939,668 | -€223,656 | -19.2% |
| Fixed assets | 21/28 | €701,910 | €655,241 | -€46,669 | -6.6% |
| Tangible fixed assets | 22/27 | €554,339 | €507,670 | -€46,669 | -8.4% |
| Land and buildings | 22 | €439,992 | €425,156 | -€14,836 | -3.4% |
| Furniture and vehicles | 24 | €108,994 | €78,599 | -€30,395 | -27.9% |
| Other tangible fixed assets | 26 | €5,354 | €3,915 | -€1,439 | -26.9% |
| Financial fixed assets | 28 | €147,571 | €147,571 | = | 0.0% |
| Current assets | 29/58 | €461,413 | €284,427 | -€176,986 | -38.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €134,817 | €41,309 | -€93,508 | -69.4% |
| Trade receivables | 40 | €125,405 | €31,909 | -€93,496 | -74.6% |
| Other amounts receivable | 41 | €9,412 | €9,400 | -€12 | -0.1% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €122,787 | €239,404 | +€116,616 | +95.0% |
| Deferred charges and accrued income | 490/1 | €3,809 | €3,715 | -€95 | -2.5% |
| Total equity and liabilities | 10/49 | €1,163,324 | €939,668 | -€223,656 | -19.2% |
| Equity | 10/15 | €815,681 | €640,318 | -€175,364 | -21.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €803,181 | €627,818 | -€175,364 | -21.8% |
| Distributable reserves | 133 | €803,181 | €627,818 | -€175,364 | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €347,642 | €299,350 | -€48,292 | -13.9% |
| Amounts payable after more than one year | 17 | €215,189 | €0 | -€215,189 | -100% |
| Financial debts | 170/4 | €215,189 | €0 | -€215,189 | -100% |
| Amounts payable within one year | 42/48 | €131,547 | €299,350 | +€167,803 | +128% |
| Current portion of amounts payable after more than one year | 42 | €25,618 | €0 | -€25,618 | -100% |
| Financial debts | 43 | €69 | €73 | +€4 | +5.7% |
| Credit institutions | 430/8 | €69 | €73 | +€4 | +5.7% |
| Trade debts | 44 | €8,760 | €3,647 | -€5,113 | -58.4% |
| Suppliers | 440/4 | €8,760 | €3,647 | -€5,113 | -58.4% |
| Taxes, remuneration and social security | 45 | €74,997 | €22,371 | -€52,625 | -70.2% |
| Taxes | 450/3 | €72,734 | €22,371 | -€50,363 | -69.2% |
| Remuneration and social security | 454/9 | €2,262 | €0 | -€2,262 | -100% |
| Other amounts payable | 47/48 | €22,104 | €273,259 | +€251,156 | +1,136% |
| Accrued charges and deferred income | 492/3 | €906 | €0 | -€906 | -100% |
| Non-recurring operating income | 76A | - | €3,659 | +€3,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,327 | €44,048 | -€5,279 | -10.7% |
| Other operating charges | 640/8 | €3,711 | €4,242 | +€531 | +14.3% |
| Gross operating margin | 9900 | €210,797 | €176,599 | -€34,198 | -16.2% |
| Operating profit (loss) | 9901 | €157,760 | €128,309 | -€29,451 | -18.7% |
| Financial income | 75/76B | €5,200 | €8,858 | +€3,658 | +70.4% |
| Recurring financial income | 75 | €5,200 | €8,858 | +€3,658 | +70.4% |
| Financial charges | 65/66B | €6,169 | €5,833 | -€336 | -5.4% |
| Recurring financial charges | 65 | €6,169 | €5,833 | -€336 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €156,791 | €131,334 | -€25,457 | -16.2% |
| Income taxes | 67/77 | €49,557 | €39,030 | -€10,527 | -21.2% |
| Profit (loss) for the period | 9904 | €107,233 | €92,303 | -€14,930 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €107,233 | €92,303 | -€14,930 | -13.9% |
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 15 October 2026 via checked.be.