QODE: 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.
QODE
Largest movements
- Tangible fixed assets -€7,166
down €7,166 (-31.2%), from €22,933 to €15,767
of which Furniture and vehicles: -€5,954
- Cash -€6,165
down €6,165 (-13.5%), from €45,759 to €39,593
mainly Contributions, distributions and other (-€31,424) and Investment in fixed assets (net) (-€6,815)
- Receivables within one year +€1,090
up €1,090 (+5.9%), from €18,442 to €19,532
of which Trade receivables: +€4,465
- Reserves -€25,113
down €25,113 (-93.1%), from €26,973 to €1,860
of which Distributable reserves: -€25,113
- Other debts +€16,739
up €16,739 (+84.6%), from €19,781 to €36,520
- Profit (loss) carried forward +€8,084
up €8,084, from -€8,084 to €0
- Tax, wage and social debts +€7,007
up €7,007 (+96.4%), from €7,269 to €14,275
of which Taxes: +€7,007
- Trade debts -€5,965
down €5,965 (-70.3%), from €8,487 to €2,522
- Gross operating margin +€27,027
up €27,027 (+300%), from €9,022 to €36,049
- Taxes +€4,927
up €4,927 (+3,888%), from €127 to €5,054
- Depreciation -€856
down €856 (-5.8%), from €14,838 to €13,981
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 | €87,792 | €75,608 | -€12,184 | -13.9% |
| Fixed assets | 21/28 | €22,933 | €15,767 | -€7,166 | -31.2% |
| Tangible fixed assets | 22/27 | €22,933 | €15,767 | -€7,166 | -31.2% |
| Furniture and vehicles | 24 | €12,803 | €6,849 | -€5,954 | -46.5% |
| Other tangible fixed assets | 26 | €10,131 | €8,918 | -€1,212 | -12.0% |
| Current assets | 29/58 | €64,859 | €59,841 | -€5,018 | -7.7% |
| Amounts receivable within one year | 40/41 | €18,442 | €19,532 | +€1,090 | +5.9% |
| Trade receivables | 40 | €15,065 | €19,530 | +€4,465 | +29.6% |
| Other amounts receivable | 41 | €3,378 | €3 | -€3,375 | -99.9% |
| Cash at bank and in hand | 54/58 | €45,759 | €39,593 | -€6,165 | -13.5% |
| Deferred charges and accrued income | 490/1 | €658 | €715 | +€57 | +8.7% |
| Total equity and liabilities | 10/49 | €87,792 | €75,608 | -€12,184 | -13.9% |
| Equity | 10/15 | €37,489 | €20,460 | -€17,029 | -45.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,973 | €1,860 | -€25,113 | -93.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,113 | €0 | -€25,113 | -100% |
| Profit (loss) carried forward | 14 | -€8,084 | €0 | +€8,084 | |
| Amounts payable | 17/49 | €50,303 | €55,148 | +€4,845 | +9.6% |
| Amounts payable after more than one year | 17 | €1,831 | €0 | -€1,831 | -100% |
| Financial debts | 170/4 | €1,831 | €0 | -€1,831 | -100% |
| Amounts payable within one year | 42/48 | €42,773 | €55,148 | +€12,375 | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €7,236 | €1,831 | -€5,405 | -74.7% |
| Trade debts | 44 | €8,487 | €2,522 | -€5,965 | -70.3% |
| Suppliers | 440/4 | €8,487 | €2,522 | -€5,965 | -70.3% |
| Taxes, remuneration and social security | 45 | €7,269 | €14,275 | +€7,007 | +96.4% |
| Taxes | 450/3 | €7,269 | €14,275 | +€7,007 | +96.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,781 | €36,520 | +€16,739 | +84.6% |
| Accrued charges and deferred income | 492/3 | €5,700 | €0 | -€5,700 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,838 | €13,981 | -€856 | -5.8% |
| Other operating charges | 640/8 | €1,667 | €1,919 | +€252 | +15.1% |
| Gross operating margin | 9900 | €9,022 | €36,049 | +€27,027 | +300% |
| Operating profit (loss) | 9901 | -€7,482 | €20,150 | +€27,632 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €475 | €705 | +€230 | +48.4% |
| Recurring financial charges | 65 | €475 | €705 | +€230 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,957 | €19,448 | +€27,406 | |
| Income taxes | 67/77 | €127 | €5,054 | +€4,927 | +3,888% |
| Profit (loss) for the period | 9904 | -€8,084 | €14,395 | +€22,479 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,084 | €14,395 | +€22,479 |
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.