QREVA: 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.
QREVA
Largest movements
- Receivables within one year -€85,682
down €85,682 (-48.6%), from €176,205 to €90,523
of which Trade receivables: -€69,475
- Cash +€11,562
up €11,562 (+8.8%), from €131,715 to €143,277
mainly Net result for the year (+€358,823) and Other debts (+€257,724)
- Tangible fixed assets -€9,102
down €9,102 (-16.9%), from €53,906 to €44,804
of which Assets under construction and advance payments: -€13,341
- Reserves -€345,297
down €345,297 (-100.0%), from €345,297 to €0
- Other debts +€257,724
up €257,724 (+2041.4%), from €12,625 to €270,348
- Tax, wage and social debts +€4,164
up €4,164 (+217.6%), from €1,914 to €6,077
- Gross operating margin +€17,965
up €17,965 (+3.8%), from €476,372 to €494,337
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 | €361,825 | €278,604 | -€83,222 | -23.0% |
| Fixed assets | 21/28 | €53,906 | €44,804 | -€9,102 | -16.9% |
| Tangible fixed assets | 22/27 | €53,906 | €44,804 | -€9,102 | -16.9% |
| Plant, machinery and equipment | 23 | - | €1,924 | +€1,924 | |
| Furniture and vehicles | 24 | €40,565 | €28,409 | -€12,156 | -30.0% |
| Other tangible fixed assets | 26 | - | €14,471 | +€14,471 | |
| Assets under construction and advance payments | 27 | €13,341 | €0 | -€13,341 | -100.0% |
| Current assets | 29/58 | €307,920 | €233,800 | -€74,120 | -24.1% |
| Amounts receivable within one year | 40/41 | €176,205 | €90,523 | -€85,682 | -48.6% |
| Trade receivables | 40 | €159,998 | €90,523 | -€69,475 | -43.4% |
| Other amounts receivable | 41 | €16,207 | €0 | -€16,207 | -100.0% |
| Cash at bank and in hand | 54/58 | €131,715 | €143,277 | +€11,562 | +8.8% |
| Total equity and liabilities | 10/49 | €361,825 | €278,604 | -€83,222 | -23.0% |
| Equity | 10/15 | €346,297 | €1,000 | -€345,297 | -99.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €345,297 | €0 | -€345,297 | -100.0% |
| Distributable reserves | 133 | €345,297 | €0 | -€345,297 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,529 | €277,604 | +€262,075 | +1687.7% |
| Amounts payable within one year | 42/48 | €15,529 | €277,604 | +€262,075 | +1687.7% |
| Trade debts | 44 | €991 | €1,178 | +€187 | +18.9% |
| Suppliers | 440/4 | €991 | €1,178 | +€187 | +18.9% |
| Taxes, remuneration and social security | 45 | €1,914 | €6,077 | +€4,164 | +217.6% |
| Taxes | 450/3 | €1,914 | €6,077 | +€4,164 | +217.6% |
| Other amounts payable | 47/48 | €12,625 | €270,348 | +€257,724 | +2041.4% |
| Non-recurring operating income | 76A | €200 | €0 | -€200 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,698 | €13,300 | +€602 | +4.7% |
| Other operating charges | 640/8 | €3,866 | €4,615 | +€749 | +19.4% |
| Non-recurring operating charges | 66A | - | €557 | +€557 | |
| Gross operating margin | 9900 | €476,372 | €494,337 | +€17,965 | +3.8% |
| Operating profit (loss) | 9901 | €459,808 | €475,865 | +€16,057 | +3.5% |
| Financial income | 75/76B | €3,676 | €1,863 | -€1,814 | -49.3% |
| Recurring financial income | 75 | €3,676 | €1,863 | -€1,814 | -49.3% |
| Financial charges | 65/66B | €6,449 | €4,010 | -€2,439 | -37.8% |
| Recurring financial charges | 65 | €6,449 | €4,010 | -€2,439 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €457,036 | €473,718 | +€16,682 | +3.7% |
| Income taxes | 67/77 | €111,797 | €114,895 | +€3,099 | +2.8% |
| Profit (loss) for the period | 9904 | €345,239 | €358,823 | +€13,584 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €345,239 | €358,823 | +€13,584 | +3.9% |
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 8 October 2026 via checked.be.