QS Construct: 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.
QS Construct
Largest movements
- Tangible fixed assets +€2,105
up €2,105 (+283.8%), from €742 to €2,847
of which Plant, machinery and equipment: +€2,531
- Cash -€1,892
down €1,892 (-11.2%), from €16,935 to €15,043
mainly Investment in fixed assets (net) (-€2,905) and Net result for the year (-€1,118)
- Deferred charges and accrued income +€483
up €483 (+35.6%), from €1,359 to €1,842
- Tax, wage and social debts +€2,545
up €2,545 (+171.6%), from €1,484 to €4,029
- Profit (loss) carried forward -€1,118
down €1,118 (-11.8%), from -€9,495 to -€10,614
- Trade debts -€836
down €836 (-29.5%), from €2,835 to €1,999
- Other debts +€591
up €591 (+11.7%), from €5,052 to €5,643
- Accrued charges and deferred income -€388
down €388 (-15.3%), from €2,539 to €2,151
- Gross operating margin +€4,018
up €4,018, from -€58 to €3,960
- Other operating charges -€970
down €970 (-43.3%), from €2,239 to €1,269
- Taxes +€653
up €653 (+34.4%), from €1,895 to €2,548
- Depreciation -€644
down €644 (-44.6%), from €1,444 to €800
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 | €30,787 | €31,581 | +€795 | +2.6% |
| Fixed assets | 21/28 | €742 | €2,847 | +€2,105 | +283.8% |
| Tangible fixed assets | 22/27 | €742 | €2,847 | +€2,105 | +283.8% |
| Plant, machinery and equipment | 23 | €228 | €2,759 | +€2,531 | +1110.4% |
| Furniture and vehicles | 24 | €514 | €89 | -€425 | -82.8% |
| Current assets | 29/58 | €30,045 | €28,734 | -€1,311 | -4.4% |
| Amounts receivable within one year | 40/41 | €11,751 | €11,850 | +€98 | +0.8% |
| Trade receivables | 40 | €10,285 | €10,285 | = | 0.0% |
| Other amounts receivable | 41 | €1,466 | €1,565 | +€98 | +6.7% |
| Cash at bank and in hand | 54/58 | €16,935 | €15,043 | -€1,892 | -11.2% |
| Deferred charges and accrued income | 490/1 | €1,359 | €1,842 | +€483 | +35.6% |
| Total equity and liabilities | 10/49 | €30,787 | €31,581 | +€795 | +2.6% |
| Equity | 10/15 | €18,878 | €17,759 | -€1,118 | -5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,173 | €22,173 | = | 0.0% |
| Distributable reserves | 133 | €22,173 | €22,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,495 | -€10,614 | -€1,118 | -11.8% |
| Amounts payable | 17/49 | €11,909 | €13,822 | +€1,913 | +16.1% |
| Amounts payable within one year | 42/48 | €9,370 | €11,671 | +€2,301 | +24.6% |
| Trade debts | 44 | €2,835 | €1,999 | -€836 | -29.5% |
| Suppliers | 440/4 | €2,835 | €1,999 | -€836 | -29.5% |
| Taxes, remuneration and social security | 45 | €1,484 | €4,029 | +€2,545 | +171.6% |
| Taxes | 450/3 | €1,484 | €4,029 | +€2,545 | +171.6% |
| Other amounts payable | 47/48 | €5,052 | €5,643 | +€591 | +11.7% |
| Accrued charges and deferred income | 492/3 | €2,539 | €2,151 | -€388 | -15.3% |
| Non-recurring operating income | 76A | - | €4,297 | +€4,297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,444 | €800 | -€644 | -44.6% |
| Other operating charges | 640/8 | €2,239 | €1,269 | -€970 | -43.3% |
| Gross operating margin | 9900 | -€58 | €3,960 | +€4,018 | |
| Operating profit (loss) | 9901 | -€3,741 | €1,890 | +€5,632 | |
| Financial income | 75/76B | €5 | €31 | +€26 | +541.7% |
| Recurring financial income | 75 | €5 | €31 | +€26 | +541.7% |
| Financial charges | 65/66B | €507 | €492 | -€16 | -3.1% |
| Recurring financial charges | 65 | €507 | €492 | -€16 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,244 | €1,430 | +€5,674 | |
| Income taxes | 67/77 | €1,895 | €2,548 | +€653 | +34.4% |
| Profit (loss) for the period | 9904 | -€6,139 | -€1,118 | +€5,021 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,139 | -€1,118 | +€5,021 | +81.8% |
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 7 October 2026 via checked.be.