QSR Belgium: what changed
What changed
QSR Belgium
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€3,415
2022 · -€618,024+€614,609
Equity
€75.7m
2022 · €75.7m-€3,415
Cash
€2.6m
2022 · €36.8m-€34.2m
Balance sheet total
€82.6m
2022 · €124.0m-€41.4m
Largest movements
Assets
- Cash -€34.2m
down €34.2m (-92.9%), from €36.8m to €2.6m
mainly Short-term financial debts (-€35.2m) and Trade debts (-€6.0m)
- Receivables within one year -€4.9m
down €4.9m (-30.8%), from €16.0m to €11.1m
of which Trade receivables: -€4.4m
- Financial fixed assets -€2.3m
down €2.3m (-3.3%), from €70.8m to €68.5m
of which Affiliated companies: -€2.3m
Equity and liabilities
- Short-term financial debts -€35.2m
down €35.2m (-100.0%), from €35.2m to €524
- Trade debts -€6.0m
down €6.0m (-50.5%), from €11.9m to €5.9m
Income statement
- Turnover +€5.2m
up €5.2m (+59.2%), from €8.8m to €14.0m
- Services and other goods +€2.7m
up €2.7m (+25.6%), from €10.6m to €13.3m
- Other operating charges +€1.3m
up €1.3m (+14.3%), from €9.1m to €10.4m
- Other operating income -€1.0m
down €1.0m (-8.6%), from €11.9m to €10.9m
- Staff costs +€506,401
up €506,401 (+47.9%), from €1.1m to €1.6m
Change in the result, 2022 to 2023
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2022
-€618,024
Turnover
+€5.2m
Other operating income
-€1.0m
Services and other goods
-€2.7m
Staff costs
-€506,401
Depreciation
-€383
Write-downs
+€382,236
Provisions
+€380,000
Other operating charges
-€1.3m
Other operating items
-€1
Financial income
-€102,130
Financial charges
+€281,499
Taxes
+€22,357
Result 2023
-€3,415
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2022 and 2023 balance sheets and the 2023 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.3m
Investment
+€2.3m
Financing
-€35.2m
Cash 2022
€36.8m
From operations (derived)
-€1.3m
Net result for the year
-€3,415
Depreciation
+€576
Receivables within one year
+€4.9m
Deferred charges and accrued income
-€46,289
Provisions
-€380,000
Trade debts
-€6.0m
Tax, wage and social debts
+€366,107
Accrued charges and deferred income
-€230,320
Investment (derived)
+€2.3m
Investment in fixed assets (net)
+€2.3m
Financing
-€35.2m
Short-term financial debts
-€35.2m
Not broken down
+€1
Cash 2023
€2.6m
brings cash intakes cash outdifference in the filed balance sheets themselves
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,976,657 | €82,574,395 | -€41.4m | -33.4% |
| Fixed assets | 21/28 | €70,826,468 | €68,499,029 | -€2.3m | -3.3% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €3,040 | €2,464 | -€576 | -18.9% |
| Furniture and vehicles | 24 | €3,040 | €2,464 | -€576 | -18.9% |
| Financial fixed assets | 28 | €70,823,428 | €68,496,565 | -€2.3m | -3.3% |
| Affiliated companies | 280/1 | €70,751,288 | €68,455,860 | -€2.3m | -3.2% |
| Participating interests | 280 | €66,939,166 | €66,939,165 | -€1 | 0.0% |
| Amounts receivable | 281 | €3,812,122 | €1,516,695 | -€2.3m | -60.2% |
| Other financial fixed assets | 284/8 | €72,140 | €40,704 | -€31,436 | -43.6% |
| Amounts receivable and cash guarantees | 285/8 | €72,140 | €40,704 | -€31,436 | -43.6% |
| Current assets | 29/58 | €53,150,189 | €14,075,367 | -€39.1m | -73.5% |
| Amounts receivable within one year | 40/41 | €16,011,448 | €11,074,425 | -€4.9m | -30.8% |
| Trade receivables | 40 | €12,429,847 | €7,998,607 | -€4.4m | -35.6% |
| Other amounts receivable | 41 | €3,581,601 | €3,075,818 | -€505,783 | -14.1% |
| Cash at bank and in hand | 54/58 | €36,785,246 | €2,601,158 | -€34.2m | -92.9% |
| Deferred charges and accrued income | 490/1 | €353,495 | €399,784 | +€46,289 | +13.1% |
| Total equity and liabilities | 10/49 | €123,976,657 | €82,574,395 | -€41.4m | -33.4% |
| Equity | 10/15 | €75,726,193 | €75,722,778 | -€3,415 | 0.0% |
| Contributions | 10/11 | €78,711,500 | €78,711,500 | = | 0.0% |
| Capital | 10 | €78,711,500 | €78,711,500 | = | 0.0% |
| Issued capital | 100 | €78,711,500 | €78,711,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,985,307 | -€2,988,722 | -€3,415 | -0.1% |
| Provisions and deferred taxes | 16 | €380,000 | - | -€380,000 | |
| Provisions for liabilities and charges | 160/5 | €380,000 | - | -€380,000 | |
| Other liabilities and charges | 164/5 | €380,000 | - | -€380,000 | |
| Amounts payable | 17/49 | €47,870,464 | €6,851,617 | -€41.0m | -85.7% |
| Amounts payable within one year | 42/48 | €47,321,702 | €6,533,175 | -€40.8m | -86.2% |
| Financial debts | 43 | €35,174,413 | €524 | -€35.2m | -100.0% |
| Other loans | 439 | €35,174,413 | €524 | -€35.2m | -100.0% |
| Trade debts | 44 | €11,853,188 | €5,872,443 | -€6.0m | -50.5% |
| Suppliers | 440/4 | €11,853,188 | €5,872,443 | -€6.0m | -50.5% |
| Taxes, remuneration and social security | 45 | €231,949 | €598,056 | +€366,107 | +158% |
| Taxes | 450/3 | €15,446 | €20,013 | +€4,567 | +29.6% |
| Remuneration and social security | 454/9 | €216,503 | €578,043 | +€361,540 | +167% |
| Other amounts payable | 47/48 | €62,152 | €62,152 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €548,762 | €318,442 | -€230,320 | -42.0% |
| Operating income | 70/76A | €20,707,260 | €24,883,071 | +€4.2m | +20.2% |
| Turnover | 70 | €8,796,394 | €14,001,075 | +€5.2m | +59.2% |
| Other operating income | 74 | €11,910,866 | €10,881,996 | -€1.0m | -8.6% |
| Operating charges | 60/66A | €21,023,748 | €24,786,676 | +€3.8m | +17.9% |
| Services and other goods | 61 | €10,606,534 | €13,325,646 | +€2.7m | +25.6% |
| Remuneration, social security and pensions | 62 | €1,056,597 | €1,562,998 | +€506,401 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193 | €576 | +€383 | +198% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €281,296 | -€100,940 | -€382,236 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€380,000 | -€380,000 | |
| Other operating charges | 640/8 | €9,079,128 | €10,378,395 | +€1.3m | +14.3% |
| Operating profit (loss) | 9901 | -€316,488 | €96,395 | +€412,883 | |
| Recurring financial income | 75 | €277,955 | €175,825 | -€102,130 | -36.7% |
| Income from current assets | 751 | €277,955 | €175,825 | -€102,130 | -36.7% |
| Financial charges | 65/66B | €508,009 | €226,510 | -€281,499 | -55.4% |
| Recurring financial charges | 65 | €508,009 | €226,510 | -€281,499 | -55.4% |
| Debt charges | 650 | €273,286 | €28,680 | -€244,606 | -89.5% |
| Other financial charges | 652/9 | €234,723 | €197,830 | -€36,893 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | -€546,542 | €45,710 | +€592,252 | |
| Income taxes | 67/77 | €71,482 | €49,125 | -€22,357 | -31.3% |
| Taxes | 670/3 | €71,482 | €52,543 | -€18,939 | -26.5% |
| Tax adjustments and reversals of tax provisions | 77 | - | €3,418 | +€3,418 | |
| Profit (loss) for the period | 9904 | -€618,024 | -€3,415 | +€614,609 | +99.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€618,024 | -€3,415 | +€614,609 | +99.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.