QUALIBO: what changed
What changed
QUALIBO
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€1,869
2024 · -€233,345+€231,476
Equity
€9,583
2024 · €11,452-€1,869
Cash
€105,198
2024 · €137,060-€31,862
Balance sheet total
€1.3m
2024 · €1.8m-€472,286
Largest movements
Assets
- Receivables within one year -€321,948
down €321,948 (-98.3%), from €327,666 to €5,718
of which Trade receivables: -€318,120
- Stocks and contracts -€65,875
down €65,875 (-5.2%), from €1.3m to €1.2m
- Deferred charges and accrued income -€37,592
down €37,592 (-76.7%), from €49,000 to €11,408
- Cash -€31,862
down €31,862 (-23.2%), from €137,060 to €105,198
mainly Short-term financial debts (-€266,885) and Debts after one year (-€200,000)
Equity and liabilities
- Short-term financial debts -€266,885
down €266,885 (-26.2%), from €1.0m to €750,000
of which Other loans: -€261,000
- Debts after one year -€200,000
down €200,000 (-32.8%), from €610,000 to €410,000
- Other debts +€137,743
up €137,743 (+670%), from €20,554 to €158,297
- Accrued charges and deferred income -€62,605
down €62,605 (-99.7%), from €62,785 to €180
- Tax, wage and social debts -€44,094
down €44,094 (-85.0%), from €51,894 to €7,800
Income statement
- Gross operating margin +€209,096
up €209,096, from -€185,013 to €24,083
- Financial charges -€19,492
down €19,492 (-56.6%), from €34,444 to €14,952
- Depreciation -€3,622
down €3,622 (-26.1%), from €13,857 to €10,234
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.
Result 2024
-€233,345
Gross operating margin
+€209,096
Depreciation
+€3,622
Other operating charges
+€93
Other operating items
-€643
Financial income
-€688
Financial charges
+€19,492
Taxes
+€504
Result 2025
-€1,869
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€435,508
Investment
+€4,775
Financing
-€472,146
Cash 2024
€137,060
From operations (derived)
+€435,508
Net result for the year
-€1,869
Depreciation
+€10,234
Stocks and contracts
+€65,875
Receivables within one year
+€321,948
Deferred charges and accrued income
+€37,592
Trade debts
-€29,315
Tax, wage and social debts
-€44,094
Other debts
+€137,743
Accrued charges and deferred income
-€62,605
Investment (derived)
+€4,775
Investment in fixed assets (net)
+€4,775
Financing
-€472,146
Debts after one year
-€200,000
Current portion of long-term debt
-€5,261
Short-term financial debts
-€266,885
Cash 2025
€105,198
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,816,552 | €1,344,267 | -€472,286 | -26.0% |
| Fixed assets | 21/28 | €31,495 | €16,485 | -€15,010 | -47.7% |
| Tangible fixed assets | 22/27 | €30,793 | €15,783 | -€15,010 | -48.7% |
| Plant, machinery and equipment | 23 | €12,352 | €7,252 | -€5,100 | -41.3% |
| Furniture and vehicles | 24 | €18,441 | €8,531 | -€9,910 | -53.7% |
| Financial fixed assets | 28 | €702 | €702 | = | 0.0% |
| Current assets | 29/58 | €1,785,058 | €1,327,782 | -€457,276 | -25.6% |
| Stocks and contracts in progress | 3 | €1,271,332 | €1,205,458 | -€65,875 | -5.2% |
| Stocks | 30/36 | €1,271,332 | €1,205,458 | -€65,875 | -5.2% |
| Amounts receivable within one year | 40/41 | €327,666 | €5,718 | -€321,948 | -98.3% |
| Trade receivables | 40 | €318,120 | €0 | -€318,120 | -100% |
| Other amounts receivable | 41 | €9,546 | €5,718 | -€3,829 | -40.1% |
| Cash at bank and in hand | 54/58 | €137,060 | €105,198 | -€31,862 | -23.2% |
| Deferred charges and accrued income | 490/1 | €49,000 | €11,408 | -€37,592 | -76.7% |
| Total equity and liabilities | 10/49 | €1,816,552 | €1,344,267 | -€472,286 | -26.0% |
| Equity | 10/15 | €11,452 | €9,583 | -€1,869 | -16.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €184,797 | €184,797 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €178,797 | €178,797 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€233,345 | -€235,214 | -€1,869 | -0.8% |
| Amounts payable | 17/49 | €1,805,101 | €1,334,684 | -€470,417 | -26.1% |
| Amounts payable after more than one year | 17 | €610,000 | €410,000 | -€200,000 | -32.8% |
| Financial debts | 170/4 | €610,000 | €410,000 | -€200,000 | -32.8% |
| Amounts payable within one year | 42/48 | €1,132,316 | €924,505 | -€207,811 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €5,261 | €0 | -€5,261 | -100% |
| Financial debts | 43 | €1,016,885 | €750,000 | -€266,885 | -26.2% |
| Credit institutions | 430/8 | €5,885 | €0 | -€5,885 | -100% |
| Other loans | 439 | €1,011,000 | €750,000 | -€261,000 | -25.8% |
| Trade debts | 44 | €37,722 | €8,407 | -€29,315 | -77.7% |
| Suppliers | 440/4 | €37,722 | €8,407 | -€29,315 | -77.7% |
| Taxes, remuneration and social security | 45 | €51,894 | €7,800 | -€44,094 | -85.0% |
| Taxes | 450/3 | €51,894 | €7,800 | -€44,094 | -85.0% |
| Other amounts payable | 47/48 | €20,554 | €158,297 | +€137,743 | +670% |
| Accrued charges and deferred income | 492/3 | €62,785 | €180 | -€62,605 | -99.7% |
| Non-recurring operating income | 76A | €6,000 | €0 | -€6,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,857 | €10,234 | -€3,622 | -26.1% |
| Other operating charges | 640/8 | €228 | €135 | -€93 | -40.9% |
| Non-recurring operating charges | 66A | - | €643 | +€643 | |
| Gross operating margin | 9900 | -€185,013 | €24,083 | +€209,096 | |
| Operating profit (loss) | 9901 | -€199,098 | €13,071 | +€212,169 | |
| Financial income | 75/76B | €700 | €13 | -€688 | -98.2% |
| Recurring financial income | 75 | €700 | €13 | -€688 | -98.2% |
| Financial charges | 65/66B | €34,444 | €14,952 | -€19,492 | -56.6% |
| Recurring financial charges | 65 | €34,444 | €14,952 | -€19,492 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | -€232,841 | -€1,869 | +€230,972 | +99.2% |
| Income taxes | 67/77 | €504 | €0 | -€504 | -100% |
| Profit (loss) for the period | 9904 | -€233,345 | -€1,869 | +€231,476 | +99.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€233,345 | -€1,869 | +€231,476 | +99.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.