QPWARE: what changed
QPWARE
Largest movements
- Tangible fixed assets +€8,647
up €8,647 (+184%), from €4,687 to €13,334
of which Leasing and similar rights: +€10,542
- Receivables within one year +€6,286
up €6,286 (+38.5%), from €16,323 to €22,609
of which Trade receivables: +€6,913
- Deferred charges and accrued income -€2,658
down €2,658 (-24.2%), from €10,962 to €8,304
- Cash +€2,220
up €2,220 (+7.0%), from €31,575 to €33,796
mainly Net result for the year (+€19,952) and Deferred charges and accrued income (+€2,658)
- Reserves +€23,214
up €23,214 (+122%), from €19,071 to €42,286
- Profit (loss) carried forward -€9,262
no longer reported in 2025 (was €9,262)
- Tax, wage and social debts +€1,238
up €1,238 (+12.9%), from €9,617 to €10,855
of which Taxes: +€1,225
- Gross operating margin +€6,811
up €6,811 (+26.7%), from €25,479 to €32,290
- Depreciation +€1,558
up €1,558 (+221%), from €704 to €2,263
- Taxes +€824
up €824 (+13.2%), from €6,224 to €7,048
- Financial charges -€419
down €419 (-25.5%), from €1,642 to €1,223
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,548 | €78,043 | +€14,495 | +22.8% |
| Fixed assets | 21/28 | €4,687 | €13,334 | +€8,647 | +184% |
| Tangible fixed assets | 22/27 | €4,687 | €13,334 | +€8,647 | +184% |
| Furniture and vehicles | 24 | €4,687 | €2,792 | -€1,895 | -40.4% |
| Leasing and similar rights | 25 | - | €10,542 | +€10,542 | |
| Current assets | 29/58 | €58,861 | €64,709 | +€5,848 | +9.9% |
| Amounts receivable within one year | 40/41 | €16,323 | €22,609 | +€6,286 | +38.5% |
| Trade receivables | 40 | €11,968 | €18,881 | +€6,913 | +57.8% |
| Other amounts receivable | 41 | €4,355 | €3,728 | -€627 | -14.4% |
| Cash at bank and in hand | 54/58 | €31,575 | €33,796 | +€2,220 | +7.0% |
| Deferred charges and accrued income | 490/1 | €10,962 | €8,304 | -€2,658 | -24.2% |
| Total equity and liabilities | 10/49 | €63,548 | €78,043 | +€14,495 | +22.8% |
| Equity | 10/15 | €46,933 | €60,886 | +€13,952 | +29.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,071 | €42,286 | +€23,214 | +122% |
| Distributable reserves | 133 | €19,071 | €42,286 | +€23,214 | +122% |
| Profit (loss) carried forward | 14 | €9,262 | - | -€9,262 | |
| Amounts payable | 17/49 | €16,614 | €17,157 | +€543 | +3.3% |
| Amounts payable within one year | 42/48 | €16,614 | €17,157 | +€543 | +3.3% |
| Trade debts | 44 | €998 | €302 | -€696 | -69.7% |
| Suppliers | 440/4 | €998 | €302 | -€696 | -69.7% |
| Taxes, remuneration and social security | 45 | €9,617 | €10,855 | +€1,238 | +12.9% |
| Taxes | 450/3 | €9,542 | €10,768 | +€1,225 | +12.8% |
| Remuneration and social security | 454/9 | €74 | €87 | +€13 | +17.6% |
| Other amounts payable | 47/48 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €2,263 | +€1,558 | +221% |
| Other operating charges | 640/8 | €1,647 | €1,803 | +€157 | +9.5% |
| Gross operating margin | 9900 | €25,479 | €32,290 | +€6,811 | +26.7% |
| Operating profit (loss) | 9901 | €23,128 | €28,224 | +€5,096 | +22.0% |
| Financial charges | 65/66B | €1,642 | €1,223 | -€419 | -25.5% |
| Recurring financial charges | 65 | €1,642 | €1,223 | -€419 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €21,485 | €27,000 | +€5,515 | +25.7% |
| Income taxes | 67/77 | €6,224 | €7,048 | +€824 | +13.2% |
| Profit (loss) for the period | 9904 | €15,262 | €19,952 | +€4,691 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,262 | €19,952 | +€4,691 | +30.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.