Qot: 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.
Qot
Largest movements
- Tangible fixed assets +€3.4m
up €3.4m (+362.7%), from €927,400 to €4.3m
- Stocks and contracts -€3.1m
down €3.1m (-64.0%), from €4.8m to €1.7m
of which Stocks: -€3.1m
- Receivables within one year -€581,075
down €581,075 (-98.9%), from €587,650 to €6,575
- Trade debts -€1.1m
down €1.1m (-84.0%), from €1.3m to €200,875
- Other debts +€815,248
up €815,248 (+314.9%), from €258,864 to €1.1m
- Short-term financial debts -€284,525
down €284,525 (-6.0%), from €4.7m to €4.4m
- Profit (loss) carried forward +€211,018
up €211,018, from -€174,280 to €36,737
- Gross operating margin +€304,436
up €304,436 (+631.8%), from €48,187 to €352,623
- Financial charges -€71,574
down €71,574 (-39.9%), from €179,442 to €107,868
- Depreciation +€13,044
new in 2025: €13,044
- Taxes +€12,500
new in 2025: €12,500
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 | €6,344,689 | €6,091,289 | -€253,399 | -4.0% |
| Fixed assets | 21/28 | €927,400 | €4,291,426 | +€3.4m | +362.7% |
| Tangible fixed assets | 22/27 | €927,400 | €4,291,426 | +€3.4m | +362.7% |
| Land and buildings | 22 | €927,400 | €4,291,426 | +€3.4m | +362.7% |
| Current assets | 29/58 | €5,417,289 | €1,799,863 | -€3.6m | -66.8% |
| Amounts receivable after more than one year | 29 | €1,900 | €1,900 | = | 0.0% |
| Trade receivables | 290 | €1,900 | €1,900 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,802,462 | €1,729,510 | -€3.1m | -64.0% |
| Stocks | 30/36 | €4,802,462 | €1,729,510 | -€3.1m | -64.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €587,650 | €6,575 | -€581,075 | -98.9% |
| Trade receivables | 40 | €587,650 | €6,575 | -€581,075 | -98.9% |
| Cash at bank and in hand | 54/58 | €10,903 | €47,104 | +€36,201 | +332.0% |
| Deferred charges and accrued income | 490/1 | €14,373 | €14,774 | +€400 | +2.8% |
| Total equity and liabilities | 10/49 | €6,344,689 | €6,091,289 | -€253,399 | -4.0% |
| Equity | 10/15 | €81,720 | €292,737 | +€211,018 | +258.2% |
| Contributions | 10/11 | €256,000 | €256,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,280 | €36,737 | +€211,018 | |
| Amounts payable | 17/49 | €6,262,969 | €5,798,552 | -€464,417 | -7.4% |
| Amounts payable after more than one year | 17 | €5,140 | €0 | -€5,140 | -100.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €5,140 | €0 | -€5,140 | -100.0% |
| Amounts payable within one year | 42/48 | €6,236,851 | €5,773,683 | -€463,167 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | - | €52,506 | +€52,506 | |
| Financial debts | 43 | €4,718,215 | €4,433,690 | -€284,525 | -6.0% |
| Credit institutions | 430/8 | €4,718,215 | €4,433,690 | -€284,525 | -6.0% |
| Trade debts | 44 | €1,254,074 | €200,875 | -€1.1m | -84.0% |
| Suppliers | 440/4 | €1,254,074 | €200,875 | -€1.1m | -84.0% |
| Taxes, remuneration and social security | 45 | €5,697 | €12,500 | +€6,803 | +119.4% |
| Taxes | 450/3 | - | €12,500 | +€12,500 | |
| Remuneration and social security | 454/9 | €5,697 | €0 | -€5,697 | -100.0% |
| Other amounts payable | 47/48 | €258,864 | €1,074,113 | +€815,248 | +314.9% |
| Accrued charges and deferred income | 492/3 | €20,978 | €24,869 | +€3,890 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,044 | +€13,044 | |
| Other operating charges | 640/8 | €6,068 | €8,194 | +€2,125 | +35.0% |
| Gross operating margin | 9900 | €48,187 | €352,623 | +€304,436 | +631.8% |
| Operating profit (loss) | 9901 | €42,118 | €331,385 | +€289,267 | +686.8% |
| Financial charges | 65/66B | €179,442 | €107,868 | -€71,574 | -39.9% |
| Recurring financial charges | 65 | €179,442 | €107,868 | -€71,574 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | -€137,324 | €223,518 | +€360,841 | |
| Income taxes | 67/77 | - | €12,500 | +€12,500 | |
| Profit (loss) for the period | 9904 | -€137,324 | €211,018 | +€348,341 | |
| Profit (loss) for the period to be appropriated | 9905 | -€137,324 | €211,018 | +€348,341 |
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 7 October 2026 via checked.be.