Qualico: 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.
Qualico
Largest movements
- Receivables within one year +€169,535
up €169,535 (+48.8%), from €347,228 to €516,763
of which Trade receivables: +€171,981
- Stocks and contracts +€101,845
up €101,845 (+57.6%), from €176,694 to €278,539
- Deferred charges and accrued income +€58,645
up €58,645 (+4312.3%), from €1,360 to €60,005
- Intangible fixed assets +€22,137
up €22,137 (+26.4%), from €83,940 to €106,078
- Formation expenses +€18,836
up €18,836, from €0 to €18,836
- Contributions +€252,982
up €252,982 (+57.6%), from €439,457 to €692,440
- Debts after one year +€97,841
up €97,841 (+32.7%), from €298,900 to €396,741
of which Financial debts: +€187,841
- Trade debts -€93,956
down €93,956 (-53.0%), from €177,333 to €83,377
- Tax, wage and social debts +€81,809
up €81,809 (+231.5%), from €35,331 to €117,140
of which Taxes: +€81,809
- Current portion of long-term debt +€35,894
up €35,894 (+57.2%), from €62,801 to €98,694
- Staff costs -€26,421
down €26,421 (-100.0%), from €26,421 to €0
- Gross operating margin +€15,067
up €15,067 (+24.7%), from €60,974 to €76,041
- Depreciation +€6,719
up €6,719 (+12.8%), from €52,324 to €59,042
- Financial income +€5,967
up €5,967 (+3748.6%), from €159 to €6,126
- Financial charges +€5,302
up €5,302 (+48.5%), from €10,940 to €16,242
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €743,823 | €1,113,381 | +€369,558 | +49.7% |
| Formation expenses | 20 | €0 | €18,836 | +€18,836 | |
| Fixed assets | 21/28 | €103,119 | €117,971 | +€14,851 | +14.4% |
| Intangible fixed assets | 21 | €83,940 | €106,078 | +€22,137 | +26.4% |
| Tangible fixed assets | 22/27 | €16,734 | €7,198 | -€9,536 | -57.0% |
| Plant, machinery and equipment | 23 | €12,601 | €3,147 | -€9,453 | -75.0% |
| Furniture and vehicles | 24 | €4,133 | €4,051 | -€83 | -2.0% |
| Financial fixed assets | 28 | €2,445 | €4,695 | +€2,250 | +92.0% |
| Current assets | 29/58 | €640,704 | €976,574 | +€335,871 | +52.4% |
| Stocks and contracts in progress | 3 | €176,694 | €278,539 | +€101,845 | +57.6% |
| Stocks | 30/36 | €176,694 | €278,539 | +€101,845 | +57.6% |
| Amounts receivable within one year | 40/41 | €347,228 | €516,763 | +€169,535 | +48.8% |
| Trade receivables | 40 | €336,739 | €508,720 | +€171,981 | +51.1% |
| Other amounts receivable | 41 | €10,489 | €8,043 | -€2,446 | -23.3% |
| Cash at bank and in hand | 54/58 | €115,422 | €121,268 | +€5,846 | +5.1% |
| Deferred charges and accrued income | 490/1 | €1,360 | €60,005 | +€58,645 | +4312.3% |
| Total equity and liabilities | 10/49 | €743,823 | €1,113,381 | +€369,558 | +49.7% |
| Equity | 10/15 | €128,208 | €382,024 | +€253,816 | +198.0% |
| Contributions | 10/11 | €439,457 | €692,440 | +€252,982 | +57.6% |
| Profit (loss) carried forward | 14 | -€311,249 | -€310,415 | +€834 | +0.3% |
| Amounts payable | 17/49 | €615,615 | €731,357 | +€115,742 | +18.8% |
| Amounts payable after more than one year | 17 | €298,900 | €396,741 | +€97,841 | +32.7% |
| Financial debts | 170/4 | €208,900 | €396,741 | +€187,841 | +89.9% |
| Other amounts payable | 178/9 | €90,000 | €0 | -€90,000 | -100.0% |
| Amounts payable within one year | 42/48 | €312,918 | €334,615 | +€21,697 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €62,801 | €98,694 | +€35,894 | +57.2% |
| Financial debts | 43 | €2 | €0 | -€2 | -100.0% |
| Credit institutions | 430/8 | €2 | €0 | -€2 | -100.0% |
| Trade debts | 44 | €177,333 | €83,377 | -€93,956 | -53.0% |
| Suppliers | 440/4 | €177,333 | €83,377 | -€93,956 | -53.0% |
| Taxes, remuneration and social security | 45 | €35,331 | €117,140 | +€81,809 | +231.5% |
| Taxes | 450/3 | €35,331 | €117,140 | +€81,809 | +231.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €37,452 | €35,404 | -€2,048 | -5.5% |
| Accrued charges and deferred income | 492/3 | €3,796 | €0 | -€3,796 | -100.0% |
| Remuneration, social security and pensions | 62 | €26,421 | €0 | -€26,421 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,324 | €59,042 | +€6,719 | +12.8% |
| Other operating charges | 640/8 | €7,209 | €5,962 | -€1,246 | -17.3% |
| Gross operating margin | 9900 | €60,974 | €76,041 | +€15,067 | +24.7% |
| Operating profit (loss) | 9901 | -€24,979 | €11,036 | +€36,015 | |
| Financial income | 75/76B | €159 | €6,126 | +€5,967 | +3748.6% |
| Recurring financial income | 75 | €159 | €6,126 | +€5,967 | +3748.6% |
| Financial charges | 65/66B | €10,940 | €16,242 | +€5,302 | +48.5% |
| Recurring financial charges | 65 | €10,940 | €16,242 | +€5,302 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,760 | €920 | +€36,680 | |
| Income taxes | 67/77 | - | €86 | +€86 | |
| Profit (loss) for the period | 9904 | -€35,760 | €834 | +€36,594 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,760 | €834 | +€36,594 |
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 12 October 2026 via checked.be.