QSI: 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.
QSI
Largest movements
- Cash +€8,334
up €8,334 (+41.8%), from €19,922 to €28,256
mainly Net result for the year (+€7,339) and Depreciation (+€4,649)
- Tangible fixed assets -€4,649
down €4,649 (-29.2%), from €15,939 to €11,290
of which Furniture and vehicles: -€4,456
- Receivables within one year -€1,455
down €1,455 (-18.6%), from €7,814 to €6,358
of which Trade receivables: -€1,619
- Reserves +€7,339
up €7,339 (+29.0%), from €25,319 to €32,658
- Current portion of long-term debt -€6,449
down €6,449 (-100.0%), from €6,449 to €0
- Other debts +€807
up €807 (+793.2%), from €102 to €909
- Gross operating margin -€24,364
down €24,364 (-61.2%), from €39,823 to €15,459
- Taxes -€4,554
down €4,554 (-59.1%), from €7,706 to €3,152
- Financial charges -€516
down €516 (-79.0%), from €653 to €137
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 | €44,707 | €46,986 | +€2,279 | +5.1% |
| Fixed assets | 21/28 | €15,939 | €11,290 | -€4,649 | -29.2% |
| Tangible fixed assets | 22/27 | €15,939 | €11,290 | -€4,649 | -29.2% |
| Plant, machinery and equipment | 23 | €666 | €473 | -€193 | -29.0% |
| Furniture and vehicles | 24 | €15,273 | €10,817 | -€4,456 | -29.2% |
| Current assets | 29/58 | €28,768 | €35,696 | +€6,928 | +24.1% |
| Amounts receivable within one year | 40/41 | €7,814 | €6,358 | -€1,455 | -18.6% |
| Trade receivables | 40 | €7,814 | €6,195 | -€1,619 | -20.7% |
| Other amounts receivable | 41 | €0 | €163 | +€163 | |
| Cash at bank and in hand | 54/58 | €19,922 | €28,256 | +€8,334 | +41.8% |
| Deferred charges and accrued income | 490/1 | €1,032 | €1,082 | +€50 | +4.8% |
| Total equity and liabilities | 10/49 | €44,707 | €46,986 | +€2,279 | +5.1% |
| Equity | 10/15 | €26,319 | €33,658 | +€7,339 | +27.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €25,319 | €32,658 | +€7,339 | +29.0% |
| Distributable reserves | 133 | €25,319 | €32,658 | +€7,339 | +29.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €18,388 | €13,328 | -€5,060 | -27.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €18,388 | €13,328 | -€5,060 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €6,449 | €0 | -€6,449 | -100.0% |
| Trade debts | 44 | €818 | €1,216 | +€399 | +48.8% |
| Suppliers | 440/4 | €818 | €1,216 | +€399 | +48.8% |
| Taxes, remuneration and social security | 45 | €11,019 | €11,203 | +€184 | +1.7% |
| Taxes | 450/3 | €11,019 | €11,203 | +€184 | +1.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €102 | €909 | +€807 | +793.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,649 | €4,649 | = | 0.0% |
| Other operating charges | 640/8 | €114 | €182 | +€68 | +60.0% |
| Gross operating margin | 9900 | €39,823 | €15,459 | -€24,364 | -61.2% |
| Operating profit (loss) | 9901 | €35,060 | €10,628 | -€24,432 | -69.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €653 | €137 | -€516 | -79.0% |
| Recurring financial charges | 65 | €653 | €137 | -€516 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €34,407 | €10,491 | -€23,916 | -69.5% |
| Income taxes | 67/77 | €7,706 | €3,152 | -€4,554 | -59.1% |
| Profit (loss) for the period | 9904 | €26,701 | €7,339 | -€19,362 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,701 | €7,339 | -€19,362 | -72.5% |
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 1 October 2026 via checked.be.