QS EXPLOITATION: 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.
QS EXPLOITATION
Largest movements
- Tangible fixed assets +€304,894
up €304,894 (+94.3%), from €323,480 to €628,374
of which Plant, machinery and equipment: +€229,855
- Receivables within one year +€269,670
up €269,670, from €0 to €269,670
of which Other amounts receivable: +€264,145
- Cash +€83,541
up €83,541 (+439.2%), from €19,023 to €102,564
mainly Trade debts (+€330,698) and Debts after one year (+€189,757)
- Intangible fixed assets -€12,500
down €12,500 (-21.1%), from €59,375 to €46,875
- Trade debts +€330,698
up €330,698 (+779.0%), from €42,452 to €373,150
- Debts after one year +€189,757
up €189,757 (+94.6%), from €200,655 to €390,412
- Current portion of long-term debt +€65,106
new in 2025: €65,106
- Profit (loss) carried forward +€64,777
up €64,777 (+68.4%), from -€94,771 to -€29,994
- Gross operating margin +€371,291
up €371,291 (+53.0%), from €699,918 to €1.1m
- Staff costs +€144,443
up €144,443 (+19.9%), from €726,991 to €871,434
- Depreciation +€49,190
up €49,190 (+82.7%), from €59,473 to €108,662
- Financial charges +€12,564
up €12,564 (+251.9%), from €4,988 to €17,551
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 | €404,141 | €1,049,967 | +€645,826 | +159.8% |
| Fixed assets | 21/28 | €382,855 | €675,249 | +€292,394 | +76.4% |
| Intangible fixed assets | 21 | €59,375 | €46,875 | -€12,500 | -21.1% |
| Tangible fixed assets | 22/27 | €323,480 | €628,374 | +€304,894 | +94.3% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €287,598 | €517,453 | +€229,855 | +79.9% |
| Furniture and vehicles | 24 | €31,155 | €56,447 | +€25,292 | +81.2% |
| Other tangible fixed assets | 26 | €4,727 | €54,474 | +€49,747 | +1052.3% |
| Current assets | 29/58 | €21,286 | €374,718 | +€353,432 | +1660.4% |
| Stocks and contracts in progress | 3 | €2,263 | €2,483 | +€221 | +9.7% |
| Stocks | 30/36 | €2,263 | €2,483 | +€221 | +9.7% |
| Amounts receivable within one year | 40/41 | €0 | €269,670 | +€269,670 | |
| Trade receivables | 40 | €0 | €5,525 | +€5,525 | |
| Other amounts receivable | 41 | €0 | €264,145 | +€264,145 | |
| Cash at bank and in hand | 54/58 | €19,023 | €102,564 | +€83,541 | +439.2% |
| Total equity and liabilities | 10/49 | €404,141 | €1,049,967 | +€645,826 | +159.8% |
| Equity | 10/15 | -€11,610 | €53,167 | +€64,777 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €73,161 | €73,161 | = | 0.0% |
| Distributable reserves | 133 | €73,161 | €73,161 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,771 | -€29,994 | +€64,777 | +68.4% |
| Amounts payable | 17/49 | €415,751 | €996,800 | +€581,049 | +139.8% |
| Amounts payable after more than one year | 17 | €200,655 | €390,412 | +€189,757 | +94.6% |
| Financial debts | 170/4 | €200,655 | €390,412 | +€189,757 | +94.6% |
| Amounts payable within one year | 42/48 | €215,096 | €606,388 | +€391,292 | +181.9% |
| Current portion of amounts payable after more than one year | 42 | - | €65,106 | +€65,106 | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €42,452 | €373,150 | +€330,698 | +779.0% |
| Suppliers | 440/4 | €42,452 | €373,150 | +€330,698 | +779.0% |
| Taxes, remuneration and social security | 45 | €130,597 | €121,452 | -€9,146 | -7.0% |
| Taxes | 450/3 | €26,038 | €58,676 | +€32,638 | +125.3% |
| Remuneration and social security | 454/9 | €104,560 | €62,776 | -€41,784 | -40.0% |
| Other amounts payable | 47/48 | €42,047 | €46,681 | +€4,634 | +11.0% |
| Non-recurring operating income | 76A | €1,085 | - | -€1,085 | |
| Remuneration, social security and pensions | 62 | €726,991 | €871,434 | +€144,443 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,473 | €108,662 | +€49,190 | +82.7% |
| Other operating charges | 640/8 | €3,050 | €8,857 | +€5,807 | +190.4% |
| Gross operating margin | 9900 | €699,918 | €1,071,209 | +€371,291 | +53.0% |
| Operating profit (loss) | 9901 | -€89,594 | €82,257 | +€171,851 | |
| Financial income | 75/76B | €20 | €240 | +€220 | +1095.5% |
| Recurring financial income | 75 | €20 | €240 | +€220 | +1095.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,988 | €17,551 | +€12,564 | +251.9% |
| Recurring financial charges | 65 | €4,988 | €17,551 | +€12,564 | +251.9% |
| Profit (loss) for the period before taxes | 9903 | -€94,562 | €64,945 | +€159,508 | |
| Income taxes | 67/77 | €209 | €168 | -€41 | -19.6% |
| Profit (loss) for the period | 9904 | -€94,771 | €64,777 | +€159,549 | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,771 | €64,777 | +€159,549 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.