QST: 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.
QST
Largest movements
- Cash +€120,138
up €120,138 (+265.4%), from €45,272 to €165,410
mainly Net result for the year (+€222,504) and Debts after one year (+€31,095)
- Tangible fixed assets +€74,637
up €74,637 (+273.0%), from €27,335 to €101,972
of which Plant, machinery and equipment: +€43,279
- Receivables within one year +€61,519
up €61,519 (+233.0%), from €26,406 to €87,926
of which Trade receivables: +€48,623
- Profit (loss) carried forward +€222,510
up €222,510, from -€202,720 to €19,789
- Debts after one year +€31,095
up €31,095 (+20.5%), from €152,032 to €183,127
- Other debts -€25,643
no longer reported in 2024 (was €25,643)
- Trade debts +€20,294
up €20,294 (+43.6%), from €46,509 to €66,804
- Tax, wage and social debts +€10,966
up €10,966 (+44.7%), from €24,547 to €35,513
of which Remuneration and social security: +€16,338
- Gross operating margin +€278,014
up €278,014 (+351.5%), from €79,086 to €357,100
- Financial income -€267,703
down €267,703 (-97.6%), from €274,318 to €6,615
of which Non-recurring financial income: -€274,318
- Staff costs +€20,001
up €20,001 (+20.7%), from €96,404 to €116,405
- Depreciation +€12,324
up €12,324 (+146.0%), from €8,439 to €20,763
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,011 | €405,233 | +€259,222 | +177.5% |
| Formation expenses | 20 | €1,755 | €0 | -€1,755 | -100.0% |
| Fixed assets | 21/28 | €37,127 | €113,308 | +€76,182 | +205.2% |
| Intangible fixed assets | 21 | - | €1,545 | +€1,545 | |
| Tangible fixed assets | 22/27 | €27,335 | €101,972 | +€74,637 | +273.0% |
| Plant, machinery and equipment | 23 | €7,477 | €50,756 | +€43,279 | +578.9% |
| Furniture and vehicles | 24 | €19,858 | €46,281 | +€26,422 | +133.1% |
| Other tangible fixed assets | 26 | €0 | €4,935 | +€4,935 | |
| Financial fixed assets | 28 | €9,792 | €9,792 | = | 0.0% |
| Current assets | 29/58 | €107,129 | €291,925 | +€184,796 | +172.5% |
| Stocks and contracts in progress | 3 | €33,481 | €33,481 | = | 0.0% |
| Stocks | 30/36 | €33,481 | €33,481 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,406 | €87,926 | +€61,519 | +233.0% |
| Trade receivables | 40 | €26,098 | €74,721 | +€48,623 | +186.3% |
| Other amounts receivable | 41 | €309 | €13,205 | +€12,896 | +4176.1% |
| Cash at bank and in hand | 54/58 | €45,272 | €165,410 | +€120,138 | +265.4% |
| Deferred charges and accrued income | 490/1 | €1,970 | €5,108 | +€3,138 | +159.3% |
| Total equity and liabilities | 10/49 | €146,011 | €405,233 | +€259,222 | +177.5% |
| Equity | 10/15 | -€102,720 | €119,789 | +€222,510 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €100,000 | +€100,000 | |
| Share premium | 1100/10 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | -€202,720 | €19,789 | +€222,510 | |
| Amounts payable | 17/49 | €248,732 | €285,444 | +€36,712 | +14.8% |
| Amounts payable after more than one year | 17 | €152,032 | €183,127 | +€31,095 | +20.5% |
| Financial debts | 170/4 | €152,032 | €183,127 | +€31,095 | +20.5% |
| Amounts payable within one year | 42/48 | €96,699 | €102,317 | +€5,617 | +5.8% |
| Trade debts | 44 | €46,509 | €66,804 | +€20,294 | +43.6% |
| Suppliers | 440/4 | €46,509 | €66,804 | +€20,294 | +43.6% |
| Taxes, remuneration and social security | 45 | €24,547 | €35,513 | +€10,966 | +44.7% |
| Taxes | 450/3 | €11,198 | €5,825 | -€5,373 | -48.0% |
| Remuneration and social security | 454/9 | €13,350 | €29,688 | +€16,338 | +122.4% |
| Other amounts payable | 47/48 | €25,643 | - | -€25,643 | |
| Remuneration, social security and pensions | 62 | €96,404 | €116,405 | +€20,001 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,439 | €20,763 | +€12,324 | +146.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,470 | - | -€1,470 | |
| Other operating charges | 640/8 | €1,639 | €2,530 | +€891 | +54.3% |
| Gross operating margin | 9900 | €79,086 | €357,100 | +€278,014 | +351.5% |
| Operating profit (loss) | 9901 | -€28,867 | €217,402 | +€246,269 | |
| Financial income | 75/76B | €274,318 | €6,615 | -€267,703 | -97.6% |
| Recurring financial income | 75 | €274,318 | €6,615 | -€267,703 | -97.6% |
| Non-recurring financial income | 76B | €274,318 | - | -€274,318 | |
| Financial charges | 65/66B | €1,160 | €1,512 | +€352 | +30.4% |
| Recurring financial charges | 65 | €1,160 | €1,512 | +€352 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €244,291 | €222,504 | -€21,786 | -8.9% |
| Income taxes | 67/77 | €16 | - | -€16 | |
| Profit (loss) for the period | 9904 | €244,275 | €222,504 | -€21,771 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €244,275 | €222,504 | -€21,771 | -8.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.