QU - ART: 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.
QU - ART
Largest movements
- Cash -€2,242
down €2,242 (-64.3%), from €3,489 to €1,246
mainly Net result for the year (-€5,687) and Tax, wage and social debts (-€540)
- Receivables within one year -€774
down €774 (-81.4%), from €950 to €177
of which Trade receivables: -€950
- Stocks and contracts +€245
up €245 (+2.2%), from €10,997 to €11,242
- Profit (loss) carried forward -€5,687
down €5,687 (-15.3%), from -€37,085 to -€42,772
- Other debts +€3,202
up €3,202 (+10.4%), from €30,859 to €34,061
- Tax, wage and social debts -€540
no longer reported in 2025 (was €540)
- Trade debts +€246
up €246 (+36.8%), from €670 to €916
- Gross operating margin -€3,755
down €3,755 (-264%), from -€1,425 to -€5,180
- Depreciation -€99
no longer reported in 2025 (was €99)
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 | €15,436 | €12,665 | -€2,771 | -18.0% |
| Current assets | 29/58 | €15,436 | €12,665 | -€2,771 | -18.0% |
| Stocks and contracts in progress | 3 | €10,997 | €11,242 | +€245 | +2.2% |
| Stocks | 30/36 | €10,997 | €11,242 | +€245 | +2.2% |
| Amounts receivable within one year | 40/41 | €950 | €177 | -€774 | -81.4% |
| Trade receivables | 40 | €950 | - | -€950 | |
| Other amounts receivable | 41 | - | €177 | +€177 | |
| Cash at bank and in hand | 54/58 | €3,489 | €1,246 | -€2,242 | -64.3% |
| Total equity and liabilities | 10/49 | €15,436 | €12,665 | -€2,771 | -18.0% |
| Equity | 10/15 | -€16,634 | -€22,321 | -€5,687 | -34.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,085 | -€42,772 | -€5,687 | -15.3% |
| Amounts payable | 17/49 | €32,070 | €34,986 | +€2,916 | +9.1% |
| Amounts payable within one year | 42/48 | €32,069 | €34,978 | +€2,909 | +9.1% |
| Trade debts | 44 | €670 | €916 | +€246 | +36.8% |
| Suppliers | 440/4 | €670 | €916 | +€246 | +36.8% |
| Taxes, remuneration and social security | 45 | €540 | - | -€540 | |
| Taxes | 450/3 | €540 | - | -€540 | |
| Other amounts payable | 47/48 | €30,859 | €34,061 | +€3,202 | +10.4% |
| Accrued charges and deferred income | 492/3 | €2 | €9 | +€7 | +438% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99 | - | -€99 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€1,425 | -€5,180 | -€3,755 | -264% |
| Operating profit (loss) | 9901 | -€1,911 | -€5,579 | -€3,668 | -192% |
| Financial charges | 65/66B | €102 | €108 | +€6 | +5.7% |
| Recurring financial charges | 65 | €102 | €108 | +€6 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,013 | -€5,687 | -€3,674 | -183% |
| Profit (loss) for the period | 9904 | -€2,013 | -€5,687 | -€3,674 | -183% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,013 | -€5,687 | -€3,674 | -183% |
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 1 November 2026 via checked.be.