QOVER: 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.
What changed
QOVER
NACE 65.122, Insurance, reinsurance and pension funding, except compulsory social security
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€8.5m
2023 · -€7.5m-€969,901
Equity
€16.0m
2023 · €10.0m+€6.0m
Cash
€9.4m
2023 · €11.5m-€2.1m
Balance sheet total
€36.1m
2023 · €29.3m+€6.8m
Largest movements
Assets
- Current investments +€6.6m
up €6.6m (+82.4%), from €8.0m to €14.6m
- Receivables within one year +€2.4m
up €2.4m (+25.8%), from €9.1m to €11.5m
of which Trade receivables: +€3.1m
- Cash -€2.1m
down €2.1m (-18.3%), from €11.5m to €9.4m
mainly Net result for the year (-€8.5m) and Current investments (-€6.6m)
Equity and liabilities
- Contributions +€14.5m
up €14.5m (+32.5%), from €44.7m to €59.2m
of which Outside capital: +€13.0m
- Profit (loss) carried forward -€8.5m
down €8.5m (-24.4%), from -€34.7m to -€43.2m
- Other debts +€1.1m
up €1.1m (+7.4%), from €14.4m to €15.4m
- Debts after one year -€1.0m
down €1.0m (-69.1%), from €1.5m to €463,574
Income statement
- Turnover +€2.6m
up €2.6m (+41.2%), from €6.4m to €9.0m
- Staff costs +€2.3m
up €2.3m (+30.3%), from €7.7m to €10.0m
- Other operating income -€815,723
down €815,723 (-67.0%), from €1.2m to €402,073
- Services and other goods +€505,431
up €505,431 (+8.5%), from €5.9m to €6.4m
- Financial income +€303,773
up €303,773 (+171.2%), from €177,391 to €481,164
of which Financial income: +€303,920
From the 2023 result to the 2024 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.
Result 2023
-€7.5m
Turnover
+€2.6m
Other operating income
-€815,723
Goods and materials
+€71,099
Services and other goods
-€505,431
Staff costs
-€2.3m
Depreciation
-€25,495
Other operating charges
+€110,648
Other operating items
-€315,773
Financial income
+€303,773
Financial charges
-€21
Taxes
-€104,798
Result 2024
-€8.5m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€8.9m
Investment
-€6.8m
Financing
+€13.6m
Cash 2023
€11.5m
From operations (derived)
-€8.9m
Net result for the year
-€8.5m
Depreciation
+€192,304
Receivables within one year
-€2.4m
Deferred charges and accrued income
+€69,439
Trade debts
+€254,594
Tax, wage and social debts
+€353,188
Advances received
+€168,976
Other debts
+€1.1m
Accrued charges and deferred income
-€147,830
Investment (derived)
-€6.8m
Investment in fixed assets (net)
-€194,102
Current investments
-€6.6m
Financing
+€13.6m
Debts after one year
-€1.0m
Current portion of long-term debt
+€98,478
Contributions, distributions and other
+€14.5m
Cash 2024
€9.4m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,313,583 | €36,090,580 | +€6.8m | +23.1% |
| Fixed assets | 21/28 | €418,783 | €420,580 | +€1,798 | +0.4% |
| Intangible fixed assets | 21 | €282,110 | €221,327 | -€60,783 | -21.5% |
| Tangible fixed assets | 22/27 | €134,272 | €196,854 | +€62,581 | +46.6% |
| Plant, machinery and equipment | 23 | €101,082 | €184,648 | +€83,566 | +82.7% |
| Furniture and vehicles | 24 | €11,598 | €12,205 | +€608 | +5.2% |
| Other tangible fixed assets | 26 | €21,593 | €0 | -€21,593 | -100.0% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,400 | €2,400 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €28,894,801 | €35,670,000 | +€6.8m | +23.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €9,131,634 | €11,491,027 | +€2.4m | +25.8% |
| Trade receivables | 40 | €8,361,670 | €11,491,027 | +€3.1m | +37.4% |
| Other amounts receivable | 41 | €769,964 | €0 | -€769,964 | -100.0% |
| Current investments | 50/53 | €8,000,000 | €14,591,937 | +€6.6m | +82.4% |
| Other investments | 51/53 | €8,000,000 | €14,591,937 | +€6.6m | +82.4% |
| Cash at bank and in hand | 54/58 | €11,514,543 | €9,407,852 | -€2.1m | -18.3% |
| Deferred charges and accrued income | 490/1 | €248,624 | €179,184 | -€69,439 | -27.9% |
| Total equity and liabilities | 10/49 | €29,313,583 | €36,090,580 | +€6.8m | +23.1% |
| Equity | 10/15 | €9,957,501 | €15,981,330 | +€6.0m | +60.5% |
| Contributions | 10/11 | €44,673,237 | €59,182,687 | +€14.5m | +32.5% |
| Capital | 10 | €12,227,583 | €13,692,367 | +€1.5m | +12.0% |
| Issued capital | 100 | €12,227,583 | €13,692,367 | +€1.5m | +12.0% |
| Outside capital | 11 | €32,445,653 | €45,490,320 | +€13.0m | +40.2% |
| Share premium | 1100/10 | €32,445,653 | €45,490,320 | +€13.0m | +40.2% |
| Profit (loss) carried forward | 14 | -€34,715,736 | -€43,201,357 | -€8.5m | -24.4% |
| Amounts payable | 17/49 | €19,356,083 | €20,109,250 | +€753,168 | +3.9% |
| Amounts payable after more than one year | 17 | €1,502,504 | €463,574 | -€1.0m | -69.1% |
| Financial debts | 170/4 | €1,502,504 | €463,574 | -€1.0m | -69.1% |
| Other loans | 174 | €1,502,504 | €463,574 | -€1.0m | -69.1% |
| Amounts payable within one year | 42/48 | €17,602,074 | €19,542,001 | +€1.9m | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €940,452 | €1,038,930 | +€98,478 | +10.5% |
| Trade debts | 44 | €1,035,239 | €1,289,833 | +€254,594 | +24.6% |
| Suppliers | 440/4 | €1,035,239 | €1,289,833 | +€254,594 | +24.6% |
| Advances received on contracts in progress | 46 | €179,483 | €348,458 | +€168,976 | +94.1% |
| Taxes, remuneration and social security | 45 | €1,071,231 | €1,424,418 | +€353,188 | +33.0% |
| Taxes | 450/3 | €94,792 | €147,256 | +€52,464 | +55.3% |
| Remuneration and social security | 454/9 | €976,439 | €1,277,162 | +€300,724 | +30.8% |
| Other amounts payable | 47/48 | €14,375,669 | €15,440,362 | +€1.1m | +7.4% |
| Accrued charges and deferred income | 492/3 | €251,505 | €103,675 | -€147,830 | -58.8% |
| Operating income | 70/76A | €7,917,079 | €9,430,255 | +€1.5m | +19.1% |
| Turnover | 70 | €6,393,233 | €9,024,369 | +€2.6m | +41.2% |
| Own construction capitalised | 72 | €303,916 | €0 | -€303,916 | -100.0% |
| Other operating income | 74 | €1,217,796 | €402,073 | -€815,723 | -67.0% |
| Non-recurring operating income | 76A | €2,135 | €3,814 | +€1,678 | +78.6% |
| Operating charges | 60/66A | €15,151,027 | €17,833,058 | +€2.7m | +17.7% |
| Goods for resale, raw materials and consumables | 60 | €1,284,038 | €1,212,939 | -€71,099 | -5.5% |
| Purchases | 600/8 | €1,284,038 | €1,212,939 | -€71,099 | -5.5% |
| Services and other goods | 61 | €5,923,729 | €6,429,160 | +€505,431 | +8.5% |
| Remuneration, social security and pensions | 62 | €7,663,598 | €9,982,913 | +€2.3m | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,809 | €192,304 | +€25,495 | +15.3% |
| Other operating charges | 640/8 | €112,853 | €2,205 | -€110,648 | -98.0% |
| Non-recurring operating charges | 66A | €0 | €13,536 | +€13,536 | |
| Operating profit (loss) | 9901 | -€7,233,948 | -€8,402,803 | -€1.2m | -16.2% |
| Financial income | 75/76B | €177,391 | €481,164 | +€303,773 | +171.2% |
| Recurring financial income | 75 | €177,072 | €480,992 | +€303,920 | +171.6% |
| Income from financial fixed assets | 750 | €155,872 | €433,389 | +€277,516 | +178.0% |
| Income from current assets | 751 | €377 | €405 | +€28 | +7.5% |
| Other financial income | 752/9 | €20,823 | €47,198 | +€26,375 | +126.7% |
| Non-recurring financial income | 76B | €319 | €172 | -€147 | -46.1% |
| Financial charges | 65/66B | €362,509 | €362,530 | +€21 | 0.0% |
| Recurring financial charges | 65 | €320,160 | €309,036 | -€11,125 | -3.5% |
| Debt charges | 650 | €317,789 | €300,206 | -€17,584 | -5.5% |
| Other financial charges | 652/9 | €2,371 | €8,830 | +€6,459 | +272.4% |
| Non-recurring financial charges | 66B | €42,349 | €53,494 | +€11,146 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,419,065 | -€8,284,168 | -€865,103 | -11.7% |
| Income taxes | 67/77 | €96,655 | €201,453 | +€104,798 | +108.4% |
| Taxes | 670/3 | €96,655 | €201,453 | +€104,798 | +108.4% |
| Profit (loss) for the period | 9904 | -€7,515,720 | -€8,485,621 | -€969,901 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,515,720 | -€8,485,621 | -€969,901 | -12.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.