QUALIAS: what changed
QUALIAS
Largest movements
- Financial fixed assets -€500,000
down €500,000 (-100.0%), from €500,205 to €205
- Cash +€166,280
up €166,280 (+1,918%), from €8,670 to €174,950
mainly Investment in fixed assets (net) (+€370,932) and Receivables within one year (+€122,285)
- Receivables within one year -€122,285
down €122,285 (-44.1%), from €277,606 to €155,320
of which Other amounts receivable: -€100,398
- Intangible fixed assets +€61,260
up €61,260 (+37.5%), from €163,302 to €224,563
- Debts after one year -€500,000
down €500,000 (-62.5%), from €800,000 to €300,000
- Tax, wage and social debts +€44,297
up €44,297 (+148%), from €29,977 to €74,274
of which Remuneration and social security: +€25,554
- Accrued charges and deferred income +€30,000
new in 2025: €30,000
- Profit (loss) carried forward +€27,971
up €27,971 (+6.6%), from -€423,164 to -€395,193
- Financial income +€486,325
up €486,325 (+2,711%), from €17,939 to €504,265
of which Non-recurring financial income: +€500,000
- Gross operating margin +€246,637
up €246,637 (+429%), from €57,543 to €304,181
- Staff costs +€163,395
up €163,395 (+618%), from €26,456 to €189,851
- Financial charges +€146,971
up €146,971 (+41.5%), from €354,478 to €501,449
of which Non-recurring financial charges: +€150,000
- Depreciation +€18,620
up €18,620 (+38.9%), from €47,917 to €66,537
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,007,877 | €607,833 | -€400,044 | -39.7% |
| Fixed assets | 21/28 | €664,590 | €227,121 | -€437,468 | -65.8% |
| Intangible fixed assets | 21 | €163,302 | €224,563 | +€61,260 | +37.5% |
| Tangible fixed assets | 22/27 | €1,082 | €2,353 | +€1,271 | +117% |
| Furniture and vehicles | 24 | €1,082 | €115 | -€967 | -89.4% |
| Other tangible fixed assets | 26 | - | €2,239 | +€2,239 | |
| Financial fixed assets | 28 | €500,205 | €205 | -€500,000 | -100.0% |
| Current assets | 29/58 | €343,287 | €380,711 | +€37,424 | +10.9% |
| Stocks and contracts in progress | 3 | €53,076 | €48,013 | -€5,062 | -9.5% |
| Stocks | 30/36 | €53,076 | €48,013 | -€5,062 | -9.5% |
| Amounts receivable within one year | 40/41 | €277,606 | €155,320 | -€122,285 | -44.1% |
| Trade receivables | 40 | €177,193 | €155,305 | -€21,888 | -12.4% |
| Other amounts receivable | 41 | €100,413 | €16 | -€100,398 | -100.0% |
| Current investments | 50/53 | €3,936 | €1,559 | -€2,377 | -60.4% |
| Cash at bank and in hand | 54/58 | €8,670 | €174,950 | +€166,280 | +1,918% |
| Deferred charges and accrued income | 490/1 | - | €869 | +€869 | |
| Total equity and liabilities | 10/49 | €1,007,877 | €607,833 | -€400,044 | -39.7% |
| Equity | 10/15 | €73,384 | €101,355 | +€27,971 | +38.1% |
| Contributions | 10/11 | €475,169 | €475,169 | = | 0.0% |
| Reserves | 13 | €21,379 | €21,379 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,629 | €2,629 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,629 | €2,629 | = | 0.0% |
| Distributable reserves | 133 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€423,164 | -€395,193 | +€27,971 | +6.6% |
| Amounts payable | 17/49 | €934,493 | €506,478 | -€428,015 | -45.8% |
| Amounts payable after more than one year | 17 | €800,000 | €300,000 | -€500,000 | -62.5% |
| Other amounts payable | 178/9 | €800,000 | €300,000 | -€500,000 | -62.5% |
| Amounts payable within one year | 42/48 | €134,493 | €176,478 | +€41,985 | +31.2% |
| Trade debts | 44 | €103,524 | €102,204 | -€1,320 | -1.3% |
| Suppliers | 440/4 | €103,524 | €102,204 | -€1,320 | -1.3% |
| Taxes, remuneration and social security | 45 | €29,977 | €74,274 | +€44,297 | +148% |
| Taxes | 450/3 | €25,425 | €44,169 | +€18,744 | +73.7% |
| Remuneration and social security | 454/9 | €4,552 | €30,106 | +€25,554 | +561% |
| Other amounts payable | 47/48 | €993 | - | -€993 | |
| Accrued charges and deferred income | 492/3 | - | €30,000 | +€30,000 | |
| Remuneration, social security and pensions | 62 | €26,456 | €189,851 | +€163,395 | +618% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,917 | €66,537 | +€18,620 | +38.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,060 | +€17,060 | |
| Other operating charges | 640/8 | €1,948 | €5,363 | +€3,415 | +175% |
| Gross operating margin | 9900 | €57,543 | €304,181 | +€246,637 | +429% |
| Operating profit (loss) | 9901 | -€18,778 | €25,369 | +€44,147 | |
| Financial income | 75/76B | €17,939 | €504,265 | +€486,325 | +2,711% |
| Recurring financial income | 75 | €17,939 | €4,265 | -€13,675 | -76.2% |
| Non-recurring financial income | 76B | - | €500,000 | +€500,000 | |
| Financial charges | 65/66B | €354,478 | €501,449 | +€146,971 | +41.5% |
| Recurring financial charges | 65 | €4,478 | €1,449 | -€3,029 | -67.6% |
| Non-recurring financial charges | 66B | €350,000 | €500,000 | +€150,000 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | -€355,316 | €28,185 | +€383,501 | |
| Income taxes | 67/77 | €5,390 | €214 | -€5,176 | -96.0% |
| Profit (loss) for the period | 9904 | -€360,706 | €27,971 | +€388,677 | |
| Profit (loss) for the period to be appropriated | 9905 | -€360,706 | €27,971 | +€388,677 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.