QUA - 3: 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.
QUA - 3
Largest movements
- Cash -€29,432
down €29,432 (-36.7%), from €80,287 to €50,855
mainly Contributions, distributions and other (-€25,000) and Receivables within one year (-€24,340)
- Receivables within one year +€24,340
up €24,340 (+28.6%), from €85,032 to €109,372
of which Trade receivables: +€12,810
- Tangible fixed assets -€23,830
down €23,830 (-18.6%), from €128,381 to €104,551
of which Plant, machinery and equipment: -€20,198
- Deferred charges and accrued income +€14,000
up €14,000 (+1,400%), from €1,000 to €15,000
- Stocks and contracts +€4,193
up €4,193 (+26.6%), from €15,765 to €19,958
- Other debts +€25,000
new in 2025: €25,000
- Profit (loss) carried forward -€20,097
down €20,097 (-23.4%), from €85,817 to €65,720
- Debts after one year -€17,459
down €17,459 (-19.6%), from €89,076 to €71,617
- Tax, wage and social debts +€12,911
up €12,911 (+25.3%), from €51,067 to €63,978
of which Taxes: +€9,155
- Trade debts -€11,726
down €11,726 (-23.6%), from €49,588 to €37,862
- Staff costs +€25,809
up €25,809 (+12.7%), from €203,652 to €229,461
- Depreciation +€14,412
up €14,412 (+96.5%), from €14,930 to €29,342
- Taxes -€6,703
down €6,703 (-79.3%), from €8,450 to €1,747
- Gross operating margin +€6,383
up €6,383 (+2.4%), from €264,820 to €271,203
- Other operating charges -€3,379
down €3,379 (-82.0%), from €4,121 to €742
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 | €310,965 | €300,236 | -€10,729 | -3.5% |
| Fixed assets | 21/28 | €128,881 | €105,051 | -€23,830 | -18.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €128,381 | €104,551 | -€23,830 | -18.6% |
| Plant, machinery and equipment | 23 | €112,000 | €91,802 | -€20,198 | -18.0% |
| Furniture and vehicles | 24 | €14,366 | €11,832 | -€2,534 | -17.6% |
| Other tangible fixed assets | 26 | €2,015 | €917 | -€1,098 | -54.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €182,084 | €195,185 | +€13,101 | +7.2% |
| Stocks and contracts in progress | 3 | €15,765 | €19,958 | +€4,193 | +26.6% |
| Stocks | 30/36 | €15,765 | €19,958 | +€4,193 | +26.6% |
| Amounts receivable within one year | 40/41 | €85,032 | €109,372 | +€24,340 | +28.6% |
| Trade receivables | 40 | €81,562 | €94,372 | +€12,810 | +15.7% |
| Other amounts receivable | 41 | €3,470 | €15,000 | +€11,530 | +332% |
| Cash at bank and in hand | 54/58 | €80,287 | €50,855 | -€29,432 | -36.7% |
| Deferred charges and accrued income | 490/1 | €1,000 | €15,000 | +€14,000 | +1,400% |
| Total equity and liabilities | 10/49 | €310,965 | €300,236 | -€10,729 | -3.5% |
| Equity | 10/15 | €104,417 | €84,320 | -€20,097 | -19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,817 | €65,720 | -€20,097 | -23.4% |
| Amounts payable | 17/49 | €206,548 | €215,916 | +€9,368 | +4.5% |
| Amounts payable after more than one year | 17 | €89,076 | €71,617 | -€17,459 | -19.6% |
| Financial debts | 170/4 | €89,076 | €71,617 | -€17,459 | -19.6% |
| Amounts payable within one year | 42/48 | €117,472 | €144,299 | +€26,827 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €16,817 | €17,459 | +€642 | +3.8% |
| Trade debts | 44 | €49,588 | €37,862 | -€11,726 | -23.6% |
| Suppliers | 440/4 | €49,588 | €37,862 | -€11,726 | -23.6% |
| Taxes, remuneration and social security | 45 | €51,067 | €63,978 | +€12,911 | +25.3% |
| Taxes | 450/3 | €14,977 | €24,132 | +€9,155 | +61.1% |
| Remuneration and social security | 454/9 | €36,090 | €39,846 | +€3,756 | +10.4% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €203,652 | €229,461 | +€25,809 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,930 | €29,342 | +€14,412 | +96.5% |
| Other operating charges | 640/8 | €4,121 | €742 | -€3,379 | -82.0% |
| Gross operating margin | 9900 | €264,820 | €271,203 | +€6,383 | +2.4% |
| Operating profit (loss) | 9901 | €42,117 | €11,658 | -€30,459 | -72.3% |
| Financial income | 75/76B | €307 | €9 | -€298 | -97.1% |
| Recurring financial income | 75 | €307 | €9 | -€298 | -97.1% |
| Financial charges | 65/66B | €3,561 | €5,017 | +€1,456 | +40.9% |
| Recurring financial charges | 65 | €3,561 | €5,017 | +€1,456 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €38,863 | €6,650 | -€32,213 | -82.9% |
| Income taxes | 67/77 | €8,450 | €1,747 | -€6,703 | -79.3% |
| Profit (loss) for the period | 9904 | €30,413 | €4,903 | -€25,510 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,413 | €4,903 | -€25,510 | -83.9% |
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 20 October 2026 via checked.be.