QUALIACOM: what changed
Two fiscal 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.
What changed
QUALIACOM
NACE 74.201, Photography, excluding press photography
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€32,437
2024 · €8,522+€23,915
Equity
€406,331
2024 · €380,332+€25,999
Cash
€105,687
2024 · €289,339-€183,652
Balance sheet total
€1.6m
2024 · €1.8m-€225,010
Largest movements
Assets
- Cash -€183,652
down €183,652 (-63.5%), from €289,339 to €105,687
mainly Other debts (-€145,166) and Investment in fixed assets (net) (-€83,479)
- Tangible fixed assets -€93,073
down €93,073 (-6.5%), from €1.4m to €1.3m
of which Leasing and similar rights: -€64,742
- Receivables within one year +€30,781
up €30,781 (+104.5%), from €29,444 to €60,225
of which Other amounts receivable: +€44,606
- Stocks and contracts +€23,995
up €23,995 (+33.1%), from €72,523 to €96,518
Equity and liabilities
- Other debts -€145,166
down €145,166 (-17.2%), from €844,474 to €699,308
- Debts after one year -€53,041
down €53,041 (-17.5%), from €303,645 to €250,604
- Trade debts -€46,138
down €46,138 (-21.8%), from €211,898 to €165,760
- Reserves +€32,398
up €32,398 (+12.2%), from €266,205 to €298,603
of which Tax-exempt reserves: +€28,898
Income statement
- Gross operating margin +€18,895
up €18,895 (+6.5%), from €288,491 to €307,386
- Depreciation -€16,200
down €16,200 (-8.3%), from €194,833 to €178,633
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.
Result 2024
€8,522
Gross operating margin
+€18,895
Staff costs
+€1,299
Depreciation
+€16,200
Write-downs
+€1,266
Other operating charges
-€2,882
Other operating items
+€1,233
Financial income
-€1,649
Financial charges
-€1,622
Taxes
-€1,600
Deferred taxes and other
-€7,225
Result 2025
€32,437
Cash bridge derived
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.
From operations
-€41,625
Investment
-€83,479
Financing
-€58,548
Cash 2024
€289,339
From operations (derived)
-€41,625
Net result for the year
+€32,437
Depreciation
+€178,633
Stocks and contracts
-€23,995
Receivables within one year
-€30,781
Deferred charges and accrued income
+€980
Provisions
+€7,225
Trade debts
-€46,138
Tax, wage and social debts
-€14,820
Other debts
-€145,166
Investment (derived)
-€83,479
Investment in fixed assets (net)
-€83,479
Financing
-€58,548
Debts after one year
-€53,041
Current portion of long-term debt
+€931
Contributions, distributions and other
-€6,438
Cash 2025
€105,687
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,827,757 | €1,602,747 | -€225,010 | -12.3% |
| Fixed assets | 21/28 | €1,434,465 | €1,339,311 | -€95,154 | -6.6% |
| Intangible fixed assets | 21 | €8,921 | €6,840 | -€2,081 | -23.3% |
| Tangible fixed assets | 22/27 | €1,422,511 | €1,329,438 | -€93,073 | -6.5% |
| Land and buildings | 22 | €972,932 | €925,922 | -€47,010 | -4.8% |
| Plant, machinery and equipment | 23 | €304,753 | €268,711 | -€36,042 | -11.8% |
| Furniture and vehicles | 24 | €80,084 | €70,063 | -€10,021 | -12.5% |
| Leasing and similar rights | 25 | €64,742 | - | -€64,742 | |
| Other tangible fixed assets | 26 | - | €64,742 | +€64,742 | |
| Financial fixed assets | 28 | €3,033 | €3,033 | = | 0.0% |
| Current assets | 29/58 | €393,292 | €263,436 | -€129,856 | -33.0% |
| Stocks and contracts in progress | 3 | €72,523 | €96,518 | +€23,995 | +33.1% |
| Stocks | 30/36 | €72,523 | €96,518 | +€23,995 | +33.1% |
| Amounts receivable within one year | 40/41 | €29,444 | €60,225 | +€30,781 | +104.5% |
| Trade receivables | 40 | €29,216 | €15,391 | -€13,825 | -47.3% |
| Other amounts receivable | 41 | €228 | €44,834 | +€44,606 | +19564.0% |
| Cash at bank and in hand | 54/58 | €289,339 | €105,687 | -€183,652 | -63.5% |
| Deferred charges and accrued income | 490/1 | €1,986 | €1,006 | -€980 | -49.3% |
| Total equity and liabilities | 10/49 | €1,827,757 | €1,602,747 | -€225,010 | -12.3% |
| Equity | 10/15 | €380,332 | €406,331 | +€25,999 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €266,205 | €298,603 | +€32,398 | +12.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €28,898 | +€28,898 | |
| Distributable reserves | 133 | €264,345 | €267,845 | +€3,500 | +1.3% |
| Profit (loss) carried forward | 14 | - | €39 | +€39 | |
| Investment grants | 15 | €95,527 | €89,089 | -€6,438 | -6.7% |
| Provisions and deferred taxes | 16 | €10,875 | €18,100 | +€7,225 | +66.4% |
| Provisions for liabilities and charges | 160/5 | €10,875 | €10,875 | = | 0.0% |
| Environmental obligations | 163 | €10,875 | €10,875 | = | 0.0% |
| Deferred taxes | 168 | - | €7,225 | +€7,225 | |
| Amounts payable | 17/49 | €1,436,550 | €1,178,316 | -€258,234 | -18.0% |
| Amounts payable after more than one year | 17 | €303,645 | €250,604 | -€53,041 | -17.5% |
| Financial debts | 170/4 | €303,645 | €250,604 | -€53,041 | -17.5% |
| Amounts payable within one year | 42/48 | €1,132,905 | €927,712 | -€205,193 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €52,111 | €53,042 | +€931 | +1.8% |
| Trade debts | 44 | €211,898 | €165,760 | -€46,138 | -21.8% |
| Suppliers | 440/4 | €211,898 | €165,760 | -€46,138 | -21.8% |
| Taxes, remuneration and social security | 45 | €24,422 | €9,602 | -€14,820 | -60.7% |
| Taxes | 450/3 | €4,652 | €61 | -€4,591 | -98.7% |
| Remuneration and social security | 454/9 | €19,770 | €9,541 | -€10,229 | -51.7% |
| Other amounts payable | 47/48 | €844,474 | €699,308 | -€145,166 | -17.2% |
| Non-recurring operating income | 76A | €1,232 | €1,233 | +€1 | +0.1% |
| Remuneration, social security and pensions | 62 | €81,129 | €79,830 | -€1,299 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,833 | €178,633 | -€16,200 | -8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,266 | - | -€1,266 | |
| Other operating charges | 640/8 | €5,439 | €8,321 | +€2,882 | +53.0% |
| Non-recurring operating charges | 66A | €1,233 | - | -€1,233 | |
| Gross operating margin | 9900 | €288,491 | €307,386 | +€18,895 | +6.5% |
| Operating profit (loss) | 9901 | €4,591 | €40,602 | +€36,011 | +784.4% |
| Financial income | 75/76B | €12,468 | €10,819 | -€1,649 | -13.2% |
| Recurring financial income | 75 | €12,468 | €10,819 | -€1,649 | -13.2% |
| Financial charges | 65/66B | €7,463 | €9,085 | +€1,622 | +21.7% |
| Recurring financial charges | 65 | €7,463 | €9,085 | +€1,622 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €9,596 | €42,336 | +€32,740 | +341.2% |
| Transfer from deferred taxes | 780 | - | €1,806 | +€1,806 | |
| Transfer to deferred taxes | 680 | - | €9,031 | +€9,031 | |
| Income taxes | 67/77 | €1,074 | €2,674 | +€1,600 | +149.0% |
| Profit (loss) for the period | 9904 | €8,522 | €32,437 | +€23,915 | +280.6% |
| Transfer from tax-exempt reserves | 789 | - | €7,225 | +€7,225 | |
| Transfer to tax-exempt reserves | 689 | - | €36,123 | +€36,123 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,522 | €3,539 | -€4,983 | -58.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.