QP en S: 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.
QP en S
Largest movements
- Cash +€344,653
up €344,653 (+123%), from €281,299 to €625,952
mainly Net result for the year (+€982,792) and Stocks and contracts (+€167,890)
- Stocks and contracts -€167,890
down €167,890 (-19.8%), from €848,864 to €680,974
- Tangible fixed assets -€39,785
down €39,785 (-29.3%), from €135,967 to €96,182
of which Furniture and vehicles: -€34,693
- Financial fixed assets -€24,020
down €24,020 (-100%), from €24,020 to €0
- Reserves +€411,363
up €411,363 (+44.5%), from €925,000 to €1.3m
of which Distributable reserves: +€411,363
- Trade debts -€149,740
down €149,740 (-40.5%), from €369,427 to €219,687
- Short-term financial debts -€114,957
down €114,957 (-41.3%), from €278,042 to €163,084
- Tax, wage and social debts +€24,720
up €24,720 (+38.4%), from €64,322 to €89,042
of which Taxes: +€40,919
- Debts after one year -€22,187
down €22,187 (-27.9%), from €79,530 to €57,343
- Gross operating margin +€566,773
up €566,773 (+51.7%), from €1.1m to €1.7m
- Taxes +€163,505
up €163,505 (+96.2%), from €169,978 to €333,483
- Staff costs -€31,233
down €31,233 (-9.4%), from €333,521 to €302,288
- Depreciation -€20,743
down €20,743 (-32.7%), from €63,484 to €42,741
- Write-downs -€20,593
down €20,593 (-140%), from -€14,690 to -€35,284
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 | €2,056,824 | €2,184,281 | +€127,457 | +6.2% |
| Fixed assets | 21/28 | €159,987 | €96,182 | -€63,805 | -39.9% |
| Tangible fixed assets | 22/27 | €135,967 | €96,182 | -€39,785 | -29.3% |
| Land and buildings | 22 | €1,376 | €0 | -€1,376 | -100% |
| Plant, machinery and equipment | 23 | €8,373 | €7,592 | -€781 | -9.3% |
| Furniture and vehicles | 24 | €120,203 | €85,510 | -€34,693 | -28.9% |
| Leasing and similar rights | 25 | €6,016 | €3,080 | -€2,936 | -48.8% |
| Financial fixed assets | 28 | €24,020 | €0 | -€24,020 | -100% |
| Current assets | 29/58 | €1,896,837 | €2,088,099 | +€191,262 | +10.1% |
| Stocks and contracts in progress | 3 | €848,864 | €680,974 | -€167,890 | -19.8% |
| Stocks | 30/36 | €848,864 | €680,974 | -€167,890 | -19.8% |
| Amounts receivable within one year | 40/41 | €762,108 | €768,057 | +€5,949 | +0.8% |
| Trade receivables | 40 | €723,060 | €757,285 | +€34,224 | +4.7% |
| Other amounts receivable | 41 | €39,048 | €10,773 | -€28,275 | -72.4% |
| Cash at bank and in hand | 54/58 | €281,299 | €625,952 | +€344,653 | +123% |
| Deferred charges and accrued income | 490/1 | €4,566 | €13,115 | +€8,550 | +187% |
| Total equity and liabilities | 10/49 | €2,056,824 | €2,184,281 | +€127,457 | +6.2% |
| Equity | 10/15 | €1,075,000 | €1,486,363 | +€411,363 | +38.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €925,000 | €1,336,363 | +€411,363 | +44.5% |
| Tax-exempt reserves | 132 | €25,223 | €25,223 | = | 0.0% |
| Distributable reserves | 133 | €899,777 | €1,311,140 | +€411,363 | +45.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €981,825 | €697,918 | -€283,907 | -28.9% |
| Amounts payable after more than one year | 17 | €79,530 | €57,343 | -€22,187 | -27.9% |
| Financial debts | 170/4 | €79,530 | €57,343 | -€22,187 | -27.9% |
| Amounts payable within one year | 42/48 | €902,295 | €640,575 | -€261,719 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €29,609 | €22,153 | -€7,456 | -25.2% |
| Financial debts | 43 | €278,042 | €163,084 | -€114,957 | -41.3% |
| Credit institutions | 430/8 | €278,042 | €163,084 | -€114,957 | -41.3% |
| Trade debts | 44 | €369,427 | €219,687 | -€149,740 | -40.5% |
| Suppliers | 440/4 | €369,427 | €219,687 | -€149,740 | -40.5% |
| Taxes, remuneration and social security | 45 | €64,322 | €89,042 | +€24,720 | +38.4% |
| Taxes | 450/3 | €29,531 | €70,450 | +€40,919 | +139% |
| Remuneration and social security | 454/9 | €34,791 | €18,591 | -€16,200 | -46.6% |
| Other amounts payable | 47/48 | €160,895 | €146,610 | -€14,285 | -8.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €193,758 | +€193,758 | |
| Remuneration, social security and pensions | 62 | €333,521 | €302,288 | -€31,233 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,484 | €42,741 | -€20,743 | -32.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€14,690 | -€35,284 | -€20,593 | -140% |
| Other operating charges | 640/8 | €26,717 | €19,695 | -€7,022 | -26.3% |
| Non-recurring operating charges | 66A | €410 | €1,152 | +€742 | +181% |
| Gross operating margin | 9900 | €1,095,413 | €1,662,186 | +€566,773 | +51.7% |
| Operating profit (loss) | 9901 | €685,972 | €1,331,593 | +€645,621 | +94.1% |
| Financial income | 75/76B | €6,486 | €10,746 | +€4,260 | +65.7% |
| Recurring financial income | 75 | €6,486 | €10,746 | +€4,260 | +65.7% |
| Financial charges | 65/66B | €32,030 | €26,064 | -€5,966 | -18.6% |
| Recurring financial charges | 65 | €32,030 | €26,064 | -€5,966 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €660,429 | €1,316,275 | +€655,846 | +99.3% |
| Income taxes | 67/77 | €169,978 | €333,483 | +€163,505 | +96.2% |
| Profit (loss) for the period | 9904 | €490,451 | €982,792 | +€492,341 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €490,451 | €982,792 | +€492,341 | +100% |
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 26 October 2026 via checked.be.