QRESCO: 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.
QRESCO
Largest movements
- Cash +€96,023
up €96,023 (+642.3%), from €14,950 to €110,973
mainly Net result for the year (+€109,813) and Receivables within one year (+€5,176)
- Tangible fixed assets +€7,314
new in 2025: €7,314
- Receivables within one year -€5,176
down €5,176 (-15.2%), from €34,138 to €28,963
of which Trade receivables: -€6,776
- Reserves +€108,980
up €108,980 (+339.3%), from €32,120 to €141,100
- Tax, wage and social debts -€10,750
down €10,750 (-100.0%), from €10,750 to €0
- Gross operating margin +€99,917
up €99,917 (+239.4%), from €41,738 to €141,655
- Taxes +€22,012
up €22,012 (+257.5%), from €8,548 to €30,560
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 | €49,089 | €147,344 | +€98,255 | +200.2% |
| Fixed assets | 21/28 | - | €7,314 | +€7,314 | |
| Tangible fixed assets | 22/27 | - | €7,314 | +€7,314 | |
| Furniture and vehicles | 24 | - | €7,314 | +€7,314 | |
| Current assets | 29/58 | €49,089 | €140,030 | +€90,942 | +185.3% |
| Amounts receivable within one year | 40/41 | €34,138 | €28,963 | -€5,176 | -15.2% |
| Trade receivables | 40 | €33,880 | €27,104 | -€6,776 | -20.0% |
| Other amounts receivable | 41 | €258 | €1,859 | +€1,600 | +619.6% |
| Cash at bank and in hand | 54/58 | €14,950 | €110,973 | +€96,023 | +642.3% |
| Deferred charges and accrued income | 490/1 | - | €95 | +€95 | |
| Total equity and liabilities | 10/49 | €49,089 | €147,344 | +€98,255 | +200.2% |
| Equity | 10/15 | €37,120 | €146,100 | +€108,980 | +293.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €32,120 | €141,100 | +€108,980 | +339.3% |
| Distributable reserves | 133 | €32,120 | €141,100 | +€108,980 | +339.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,968 | €1,244 | -€10,724 | -89.6% |
| Amounts payable within one year | 42/48 | €11,968 | €1,244 | -€10,724 | -89.6% |
| Trade debts | 44 | €359 | €372 | +€13 | +3.6% |
| Suppliers | 440/4 | €359 | €372 | +€13 | +3.6% |
| Taxes, remuneration and social security | 45 | €10,750 | €0 | -€10,750 | -100.0% |
| Taxes | 450/3 | €10,750 | €0 | -€10,750 | -100.0% |
| Other amounts payable | 47/48 | €859 | €872 | +€13 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,241 | +€1,241 | |
| Other operating charges | 640/8 | €200 | €0 | -€200 | -100.0% |
| Gross operating margin | 9900 | €41,738 | €141,655 | +€99,917 | +239.4% |
| Operating profit (loss) | 9901 | €41,538 | €140,413 | +€98,876 | +238.0% |
| Financial charges | 65/66B | €10 | €40 | +€30 | +300.0% |
| Recurring financial charges | 65 | €10 | €40 | +€30 | +300.0% |
| Profit (loss) for the period before taxes | 9903 | €41,528 | €140,373 | +€98,845 | +238.0% |
| Income taxes | 67/77 | €8,548 | €30,560 | +€22,012 | +257.5% |
| Profit (loss) for the period | 9904 | €32,979 | €109,813 | +€76,833 | +233.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,979 | €109,813 | +€76,833 | +233.0% |
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 4 October 2026 via checked.be.