QR CONSULT: 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.
QR CONSULT
Largest movements
- Tangible fixed assets -€33,678
down €33,678 (-6.6%), from €508,931 to €475,253
- Current investments +€26,136
up €26,136 (+75.6%), from €34,577 to €60,713
- Cash +€19,978
up €19,978 (+198%), from €10,114 to €30,093
mainly Other debts (+€98,344) and Net result for the year (+€86,062)
- Receivables within one year -€15,887
down €15,887 (-53.5%), from €29,678 to €13,791
of which Trade receivables: -€16,065
- Other debts +€98,344
up €98,344 (+538%), from €18,274 to €116,619
- Debts after one year -€55,825
down €55,825 (-15.6%), from €356,994 to €301,168
- Reserves -€35,000
down €35,000 (-11.7%), from €300,000 to €265,000
- Current portion of long-term debt -€10,491
down €10,491 (-15.8%), from €66,316 to €55,825
- Depreciation -€7,814
down €7,814 (-18.3%), from €42,648 to €34,834
- Gross operating margin +€5,985
up €5,985 (+4.7%), from €127,913 to €133,898
- Taxes +€3,667
up €3,667 (+19.2%), from €19,098 to €22,765
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 | €781,385 | €778,569 | -€2,815 | -0.4% |
| Fixed assets | 21/28 | €703,934 | €670,255 | -€33,678 | -4.8% |
| Tangible fixed assets | 22/27 | €508,931 | €475,253 | -€33,678 | -6.6% |
| Land and buildings | 22 | €438,028 | €422,393 | -€15,635 | -3.6% |
| Furniture and vehicles | 24 | €45,049 | €31,135 | -€13,914 | -30.9% |
| Other tangible fixed assets | 26 | €25,854 | €21,724 | -€4,129 | -16.0% |
| Financial fixed assets | 28 | €195,003 | €195,003 | = | 0.0% |
| Current assets | 29/58 | €77,451 | €108,314 | +€30,863 | +39.8% |
| Amounts receivable within one year | 40/41 | €29,678 | €13,791 | -€15,887 | -53.5% |
| Trade receivables | 40 | €28,537 | €12,473 | -€16,065 | -56.3% |
| Other amounts receivable | 41 | €1,141 | €1,318 | +€178 | +15.6% |
| Current investments | 50/53 | €34,577 | €60,713 | +€26,136 | +75.6% |
| Cash at bank and in hand | 54/58 | €10,114 | €30,093 | +€19,978 | +198% |
| Deferred charges and accrued income | 490/1 | €3,082 | €3,717 | +€636 | +20.6% |
| Total equity and liabilities | 10/49 | €781,385 | €778,569 | -€2,815 | -0.4% |
| Equity | 10/15 | €322,750 | €283,600 | -€39,150 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €300,000 | €265,000 | -€35,000 | -11.7% |
| Distributable reserves | 133 | €300,000 | €265,000 | -€35,000 | -11.7% |
| Profit (loss) carried forward | 14 | €4,150 | - | -€4,150 | |
| Amounts payable | 17/49 | €458,635 | €494,969 | +€36,335 | +7.9% |
| Amounts payable after more than one year | 17 | €356,994 | €301,168 | -€55,825 | -15.6% |
| Financial debts | 170/4 | €356,994 | €301,168 | -€55,825 | -15.6% |
| Amounts payable within one year | 42/48 | €101,572 | €192,909 | +€91,336 | +89.9% |
| Current portion of amounts payable after more than one year | 42 | €66,316 | €55,825 | -€10,491 | -15.8% |
| Financial debts | 43 | €127 | €118 | -€9 | -7.2% |
| Credit institutions | 430/8 | €127 | €118 | -€9 | -7.2% |
| Trade debts | 44 | €2,511 | €3,267 | +€756 | +30.1% |
| Suppliers | 440/4 | €2,511 | €3,267 | +€756 | +30.1% |
| Taxes, remuneration and social security | 45 | €14,344 | €17,080 | +€2,736 | +19.1% |
| Taxes | 450/3 | €14,344 | €17,080 | +€2,736 | +19.1% |
| Other amounts payable | 47/48 | €18,274 | €116,619 | +€98,344 | +538% |
| Accrued charges and deferred income | 492/3 | €69 | €893 | +€824 | +1,199% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,648 | €34,834 | -€7,814 | -18.3% |
| Other operating charges | 640/8 | €2,279 | €3,156 | +€877 | +38.5% |
| Gross operating margin | 9900 | €127,913 | €133,898 | +€5,985 | +4.7% |
| Operating profit (loss) | 9901 | €82,985 | €95,907 | +€12,922 | +15.6% |
| Financial income | 75/76B | €26,047 | €25,821 | -€226 | -0.9% |
| Recurring financial income | 75 | €26,047 | €25,821 | -€226 | -0.9% |
| Financial charges | 65/66B | €14,140 | €12,901 | -€1,239 | -8.8% |
| Recurring financial charges | 65 | €14,140 | €12,901 | -€1,239 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €94,892 | €108,827 | +€13,935 | +14.7% |
| Income taxes | 67/77 | €19,098 | €22,765 | +€3,667 | +19.2% |
| Profit (loss) for the period | 9904 | €75,794 | €86,062 | +€10,269 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €75,794 | €86,062 | +€10,269 | +13.5% |
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.