QUAL'ECHO: 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.
QUAL'ECHO
Largest movements
- Receivables within one year -€41,543
down €41,543 (-37.3%), from €111,248 to €69,705
of which Trade receivables: -€38,085
- Cash +€10,634
up €10,634 (+21.9%), from €48,491 to €59,125
mainly Receivables within one year (+€41,543) and Deferred charges and accrued income (+€5,835)
- Deferred charges and accrued income -€5,835
down €5,835 (-75.8%), from €7,693 to €1,858
- Receivables after one year +€5,000
new in 2025: €5,000
- Tax, wage and social debts -€16,716
down €16,716 (-80.9%), from €20,668 to €3,952
of which Taxes: -€10,375
- Trade debts -€7,383
down €7,383 (-30.3%), from €24,402 to €17,020
- Reserves -€3,560
down €3,560 (-3.5%), from €101,380 to €97,820
- Profit (loss) carried forward -€2,414
down €2,414, from €639 to -€1,774
- Gross operating margin -€44,477
down €44,477 (-65.2%), from €68,196 to €23,719
- Staff costs -€40,678
down €40,678 (-81.3%), from €50,055 to €9,377
- Write-downs +€9,691
up €9,691 (+212%), from €4,578 to €14,269
- Taxes -€1,065
down €1,065 (-74.9%), from €1,422 to €358
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 | €188,457 | €157,479 | -€30,978 | -16.4% |
| Fixed assets | 21/28 | €8,925 | €9,601 | +€675 | +7.6% |
| Tangible fixed assets | 22/27 | €2,805 | €3,481 | +€675 | +24.1% |
| Plant, machinery and equipment | 23 | €1,240 | €796 | -€444 | -35.8% |
| Furniture and vehicles | 24 | €1,565 | €2,685 | +€1,119 | +71.5% |
| Financial fixed assets | 28 | €6,120 | €6,120 | = | 0.0% |
| Current assets | 29/58 | €179,531 | €147,878 | -€31,653 | -17.6% |
| Amounts receivable after more than one year | 29 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 291 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €111,248 | €69,705 | -€41,543 | -37.3% |
| Trade receivables | 40 | €107,657 | €69,572 | -€38,085 | -35.4% |
| Other amounts receivable | 41 | €3,591 | €133 | -€3,458 | -96.3% |
| Current investments | 50/53 | €12,100 | €12,191 | +€91 | +0.8% |
| Cash at bank and in hand | 54/58 | €48,491 | €59,125 | +€10,634 | +21.9% |
| Deferred charges and accrued income | 490/1 | €7,693 | €1,858 | -€5,835 | -75.8% |
| Total equity and liabilities | 10/49 | €188,457 | €157,479 | -€30,978 | -16.4% |
| Equity | 10/15 | €114,419 | €108,446 | -€5,974 | -5.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €101,380 | €97,820 | -€3,560 | -3.5% |
| Distributable reserves | 133 | €101,380 | €97,820 | -€3,560 | -3.5% |
| Profit (loss) carried forward | 14 | €639 | -€1,774 | -€2,414 | |
| Amounts payable | 17/49 | €74,038 | €49,033 | -€25,004 | -33.8% |
| Amounts payable within one year | 42/48 | €74,038 | €48,346 | -€25,692 | -34.7% |
| Trade debts | 44 | €24,402 | €17,020 | -€7,383 | -30.3% |
| Suppliers | 440/4 | €24,402 | €17,020 | -€7,383 | -30.3% |
| Taxes, remuneration and social security | 45 | €20,668 | €3,952 | -€16,716 | -80.9% |
| Taxes | 450/3 | €14,327 | €3,952 | -€10,375 | -72.4% |
| Remuneration and social security | 454/9 | €6,342 | €0 | -€6,342 | -100% |
| Other amounts payable | 47/48 | €28,967 | €27,374 | -€1,593 | -5.5% |
| Accrued charges and deferred income | 492/3 | - | €688 | +€688 | |
| Remuneration, social security and pensions | 62 | €50,055 | €9,377 | -€40,678 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,801 | €1,861 | +€60 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,578 | €14,269 | +€9,691 | +212% |
| Other operating charges | 640/8 | €589 | €1,232 | +€643 | +109% |
| Gross operating margin | 9900 | €68,196 | €23,719 | -€44,477 | -65.2% |
| Operating profit (loss) | 9901 | €11,173 | -€3,019 | -€14,192 | |
| Financial income | 75/76B | €97 | €124 | +€27 | +28.2% |
| Recurring financial income | 75 | €97 | €124 | +€27 | +28.2% |
| Financial charges | 65/66B | €2,747 | €2,720 | -€27 | -1.0% |
| Recurring financial charges | 65 | €2,747 | €2,720 | -€27 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €8,522 | -€5,616 | -€14,138 | |
| Income taxes | 67/77 | €1,422 | €358 | -€1,065 | -74.9% |
| Profit (loss) for the period | 9904 | €7,100 | -€5,974 | -€13,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,100 | -€5,974 | -€13,073 |
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 17 October 2026 via checked.be.