Qsarco: 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.
Qsarco
Largest movements
- Cash +€9,227
up €9,227 (+523.6%), from €1,762 to €10,989
mainly Net result for the year (+€8,241) and Tax, wage and social debts (+€2,685)
- Tangible fixed assets +€1,152
new in 2025: €1,152
- Formation expenses -€347
down €347 (-20.9%), from €1,659 to €1,313
- Deferred charges and accrued income -€224
down €224 (-30.1%), from €743 to €519
- Receivables within one year -€149
down €149 (-92.0%), from €162 to €13
of which Other amounts receivable: -€162
- Reserves +€8,241
new in 2025: €8,241
- Tax, wage and social debts +€2,685
up €2,685 (+7491.4%), from €36 to €2,721
- Other debts -€1,106
down €1,106 (-70.1%), from €1,577 to €471
- Trade debts -€233
down €233 (-94.7%), from €246 to €13
- Gross operating margin +€11,677
up €11,677 (+5738.2%), from €203 to €11,880
- Taxes +€3,079
up €3,079 (+8589.6%), from €36 to €3,114
- Depreciation +€342
up €342 (+453.9%), from €75 to €417
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 | €4,327 | €13,986 | +€9,659 | +223.2% |
| Formation expenses | 20 | €1,659 | €1,313 | -€347 | -20.9% |
| Fixed assets | 21/28 | - | €1,152 | +€1,152 | |
| Tangible fixed assets | 22/27 | - | €1,152 | +€1,152 | |
| Furniture and vehicles | 24 | - | €1,152 | +€1,152 | |
| Current assets | 29/58 | €2,667 | €11,521 | +€8,854 | +332.0% |
| Amounts receivable within one year | 40/41 | €162 | €13 | -€149 | -92.0% |
| Trade receivables | 40 | - | €13 | +€13 | |
| Other amounts receivable | 41 | €162 | €0 | -€162 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,762 | €10,989 | +€9,227 | +523.6% |
| Deferred charges and accrued income | 490/1 | €743 | €519 | -€224 | -30.1% |
| Total equity and liabilities | 10/49 | €4,327 | €13,986 | +€9,659 | +223.2% |
| Equity | 10/15 | €2,068 | €10,308 | +€8,241 | +398.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €8,241 | +€8,241 | |
| Distributable reserves | 133 | - | €8,241 | +€8,241 | |
| Profit (loss) carried forward | 14 | €68 | €68 | = | 0.0% |
| Amounts payable | 17/49 | €2,259 | €3,677 | +€1,419 | +62.8% |
| Amounts payable within one year | 42/48 | €1,859 | €3,205 | +€1,346 | +72.4% |
| Trade debts | 44 | €246 | €13 | -€233 | -94.7% |
| Suppliers | 440/4 | €246 | €13 | -€233 | -94.7% |
| Taxes, remuneration and social security | 45 | €36 | €2,721 | +€2,685 | +7491.4% |
| Taxes | 450/3 | €36 | €2,721 | +€2,685 | +7491.4% |
| Other amounts payable | 47/48 | €1,577 | €471 | -€1,106 | -70.1% |
| Accrued charges and deferred income | 492/3 | €400 | €473 | +€73 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75 | €417 | +€342 | +453.9% |
| Gross operating margin | 9900 | €203 | €11,880 | +€11,677 | +5738.2% |
| Operating profit (loss) | 9901 | €128 | €11,463 | +€11,335 | +8844.2% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100.0% |
| Financial charges | 65/66B | €28 | €108 | +€80 | +279.5% |
| Recurring financial charges | 65 | €28 | €108 | +€80 | +279.5% |
| Profit (loss) for the period before taxes | 9903 | €104 | €11,355 | +€11,251 | +10848.8% |
| Income taxes | 67/77 | €36 | €3,114 | +€3,079 | +8589.6% |
| Profit (loss) for the period | 9904 | €68 | €8,241 | +€8,173 | +12041.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68 | €8,241 | +€8,173 | +12041.7% |
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 11 October 2026 via checked.be.