QP Construction: 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.
QP Construction
Largest movements
- Stocks and contracts +€44,000
new in 2025: €44,000
of which Contracts in progress: +€42,000
- Cash -€19,948
down €19,948 (-18.6%), from €107,150 to €87,202
mainly Stocks and contracts (-€44,000) and Receivables within one year (-€7,787)
- Receivables within one year +€7,787
up €7,787 (+74.9%), from €10,391 to €18,178
of which Trade receivables: +€8,670
- Reserves +€19,971
up €19,971 (+22.4%), from €89,089 to €109,060
of which Distributable reserves: +€20,000
- Trade debts +€10,568
up €10,568 (+1979.8%), from €534 to €11,102
- Gross operating margin +€13,026
up €13,026 (+60.7%), from €21,451 to €34,477
- Taxes +€5,880
up €5,880 (+148.9%), from €3,950 to €9,830
- Depreciation -€4,523
down €4,523 (-63.7%), from €7,101 to €2,577
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 | €122,060 | €154,855 | +€32,795 | +26.9% |
| Fixed assets | 21/28 | €3,069 | €2,491 | -€578 | -18.8% |
| Tangible fixed assets | 22/27 | €3,069 | €2,491 | -€578 | -18.8% |
| Plant, machinery and equipment | 23 | €1,586 | €2,491 | +€904 | +57.0% |
| Furniture and vehicles | 24 | €1,483 | - | -€1,483 | |
| Current assets | 29/58 | €118,991 | €152,364 | +€33,373 | +28.0% |
| Stocks and contracts in progress | 3 | - | €44,000 | +€44,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Contracts in progress | 37 | - | €42,000 | +€42,000 | |
| Amounts receivable within one year | 40/41 | €10,391 | €18,178 | +€7,787 | +74.9% |
| Trade receivables | 40 | €2,718 | €11,388 | +€8,670 | +319.0% |
| Other amounts receivable | 41 | €7,673 | €6,791 | -€882 | -11.5% |
| Cash at bank and in hand | 54/58 | €107,150 | €87,202 | -€19,948 | -18.6% |
| Deferred charges and accrued income | 490/1 | €1,451 | €2,984 | +€1,534 | +105.7% |
| Total equity and liabilities | 10/49 | €122,060 | €154,855 | +€32,795 | +26.9% |
| Equity | 10/15 | €110,377 | €130,700 | +€20,323 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,089 | €109,060 | +€19,971 | +22.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €29 | - | -€29 | |
| Distributable reserves | 133 | €87,200 | €107,200 | +€20,000 | +22.9% |
| Profit (loss) carried forward | 14 | €2,688 | €3,040 | +€352 | +13.1% |
| Provisions and deferred taxes | 16 | €7 | - | -€7 | |
| Deferred taxes | 168 | €7 | - | -€7 | |
| Amounts payable | 17/49 | €11,676 | €24,155 | +€12,479 | +106.9% |
| Amounts payable within one year | 42/48 | €11,676 | €24,155 | +€12,479 | +106.9% |
| Trade debts | 44 | €534 | €11,102 | +€10,568 | +1979.8% |
| Suppliers | 440/4 | €534 | €11,102 | +€10,568 | +1979.8% |
| Taxes, remuneration and social security | 45 | €1,868 | €2,309 | +€441 | +23.6% |
| Taxes | 450/3 | €1,868 | €2,309 | +€441 | +23.6% |
| Other amounts payable | 47/48 | €9,274 | €10,744 | +€1,470 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,101 | €2,577 | -€4,523 | -63.7% |
| Other operating charges | 640/8 | €1,408 | €1,503 | +€96 | +6.8% |
| Gross operating margin | 9900 | €21,451 | €34,477 | +€13,026 | +60.7% |
| Operating profit (loss) | 9901 | €12,943 | €30,396 | +€17,453 | +134.8% |
| Financial income | 75/76B | €8 | €81 | +€74 | +978.5% |
| Recurring financial income | 75 | €8 | €81 | +€74 | +978.5% |
| Financial charges | 65/66B | €181 | €332 | +€150 | +83.0% |
| Recurring financial charges | 65 | €181 | €332 | +€150 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | €12,769 | €30,146 | +€17,376 | +136.1% |
| Transfer from deferred taxes | 780 | €80 | €7 | -€73 | -91.0% |
| Income taxes | 67/77 | €3,950 | €9,830 | +€5,880 | +148.9% |
| Profit (loss) for the period | 9904 | €8,900 | €20,323 | +€11,423 | +128.4% |
| Transfer from tax-exempt reserves | 789 | €320 | €29 | -€291 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,220 | €20,352 | +€11,132 | +120.7% |
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 5 October 2026 via checked.be.