QTEX: 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.
QTEX
Largest movements
- Cash +€41,077
up €41,077 (+29.5%), from €139,255 to €180,332
mainly Net result for the year (+€67,464) and Depreciation (+€10,495)
- Tangible fixed assets -€10,495
down €10,495 (-3.3%), from €318,969 to €308,473
of which Land and buildings: -€9,371
- Reserves +€67,464
up €67,464 (+19.5%), from €345,921 to €413,385
- Debts after one year -€22,476
down €22,476 (-11.3%), from €199,258 to €176,782
- Other debts -€20,579
no longer reported in 2025 (was €20,579)
- Gross operating margin +€18,831
up €18,831 (+22.6%), from €83,178 to €102,009
- Taxes +€3,511
up €3,511 (+23.6%), from €14,867 to €18,377
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.
Derived cash bridge
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 | €611,817 | €639,573 | +€27,756 | +4.5% |
| Fixed assets | 21/28 | €318,969 | €308,473 | -€10,495 | -3.3% |
| Tangible fixed assets | 22/27 | €318,969 | €308,473 | -€10,495 | -3.3% |
| Land and buildings | 22 | €316,694 | €307,323 | -€9,371 | -3.0% |
| Plant, machinery and equipment | 23 | €847 | €330 | -€516 | -61.0% |
| Furniture and vehicles | 24 | €1,428 | €820 | -€608 | -42.6% |
| Current assets | 29/58 | €292,848 | €331,100 | +€38,251 | +13.1% |
| Stocks and contracts in progress | 3 | €127,660 | €127,660 | = | 0.0% |
| Stocks | 30/36 | €127,660 | €127,660 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,678 | €18,737 | -€2,940 | -13.6% |
| Trade receivables | 40 | €18,720 | €17,850 | -€870 | -4.6% |
| Other amounts receivable | 41 | €2,958 | €887 | -€2,070 | -70.0% |
| Cash at bank and in hand | 54/58 | €139,255 | €180,332 | +€41,077 | +29.5% |
| Deferred charges and accrued income | 490/1 | €4,256 | €4,370 | +€114 | +2.7% |
| Total equity and liabilities | 10/49 | €611,817 | €639,573 | +€27,756 | +4.5% |
| Equity | 10/15 | €364,521 | €431,985 | +€67,464 | +18.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €345,921 | €413,385 | +€67,464 | +19.5% |
| Distributable reserves | 133 | €345,921 | €413,385 | +€67,464 | +19.5% |
| Amounts payable | 17/49 | €247,296 | €207,588 | -€39,708 | -16.1% |
| Amounts payable after more than one year | 17 | €199,258 | €176,782 | -€22,476 | -11.3% |
| Financial debts | 170/4 | €199,258 | €176,782 | -€22,476 | -11.3% |
| Amounts payable within one year | 42/48 | €45,239 | €27,585 | -€17,654 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €22,041 | €22,476 | +€435 | +2.0% |
| Trade debts | 44 | €2,499 | €1,641 | -€858 | -34.3% |
| Suppliers | 440/4 | €2,499 | €1,641 | -€858 | -34.3% |
| Taxes, remuneration and social security | 45 | €120 | €3,468 | +€3,348 | +2,790% |
| Taxes | 450/3 | - | €877 | +€877 | |
| Remuneration and social security | 454/9 | €120 | €2,591 | +€2,471 | +2,059% |
| Other amounts payable | 47/48 | €20,579 | - | -€20,579 | |
| Accrued charges and deferred income | 492/3 | €2,799 | €3,221 | +€422 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,852 | €10,495 | -€357 | -3.3% |
| Other operating charges | 640/8 | €1,231 | €1,272 | +€41 | +3.3% |
| Gross operating margin | 9900 | €83,178 | €102,009 | +€18,831 | +22.6% |
| Operating profit (loss) | 9901 | €71,095 | €90,242 | +€19,147 | +26.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,859 | €4,401 | -€459 | -9.4% |
| Recurring financial charges | 65 | €4,859 | €4,401 | -€459 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €66,236 | €85,841 | +€19,605 | +29.6% |
| Income taxes | 67/77 | €14,867 | €18,377 | +€3,511 | +23.6% |
| Profit (loss) for the period | 9904 | €51,369 | €67,464 | +€16,095 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,369 | €67,464 | +€16,095 | +31.3% |
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 15 October 2026 via checked.be.