QUALIDOR: 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.
QUALIDOR
Largest movements
- Tangible fixed assets -€28,028
down €28,028 (-18.7%), from €149,910 to €121,882
- Cash -€26,182
down €26,182 (-76.3%), from €34,303 to €8,120
mainly Debts after one year (-€40,110) and Other debts (-€27,239)
- Stocks and contracts +€2,250
up €2,250 (+12.2%), from €18,500 to €20,750
- Debts after one year -€40,110
down €40,110 (-25.4%), from €157,941 to €117,831
- Other debts -€27,239
down €27,239 (-56.0%), from €48,608 to €21,369
- Profit (loss) carried forward +€10,508
up €10,508 (+25.6%), from -€41,069 to -€30,562
- Tax, wage and social debts +€9,638
up €9,638 (+257.5%), from €3,742 to €13,381
of which Remuneration and social security: +€9,991
- Trade debts -€5,904
down €5,904 (-37.7%), from €15,677 to €9,773
- Gross operating margin -€42,583
down €42,583 (-15.9%), from €267,509 to €224,925
- Staff costs +€31,154
up €31,154 (+20.9%), from €148,999 to €180,153
- Depreciation +€6,739
up €6,739 (+29.4%), from €22,939 to €29,678
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 | €215,042 | €162,362 | -€52,681 | -24.5% |
| Fixed assets | 21/28 | €154,410 | €126,382 | -€28,028 | -18.2% |
| Tangible fixed assets | 22/27 | €149,910 | €121,882 | -€28,028 | -18.7% |
| Land and buildings | 22 | €6,923 | €6,065 | -€858 | -12.4% |
| Plant, machinery and equipment | 23 | €70,823 | €60,328 | -€10,495 | -14.8% |
| Furniture and vehicles | 24 | €17,187 | €12,890 | -€4,297 | -25.0% |
| Leasing and similar rights | 25 | €54,977 | €42,598 | -€12,379 | -22.5% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €60,632 | €35,980 | -€24,652 | -40.7% |
| Stocks and contracts in progress | 3 | €18,500 | €20,750 | +€2,250 | +12.2% |
| Stocks | 30/36 | €18,500 | €20,750 | +€2,250 | +12.2% |
| Amounts receivable within one year | 40/41 | €5,553 | €4,613 | -€940 | -16.9% |
| Trade receivables | 40 | €5,240 | €989 | -€4,251 | -81.1% |
| Other amounts receivable | 41 | €313 | €3,623 | +€3,310 | +1058.1% |
| Cash at bank and in hand | 54/58 | €34,303 | €8,120 | -€26,182 | -76.3% |
| Deferred charges and accrued income | 490/1 | €2,277 | €2,497 | +€220 | +9.7% |
| Total equity and liabilities | 10/49 | €215,042 | €162,362 | -€52,681 | -24.5% |
| Equity | 10/15 | -€20,609 | -€10,102 | +€10,508 | +51.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€41,069 | -€30,562 | +€10,508 | +25.6% |
| Amounts payable | 17/49 | €235,652 | €172,464 | -€63,188 | -26.8% |
| Amounts payable after more than one year | 17 | €157,941 | €117,831 | -€40,110 | -25.4% |
| Financial debts | 170/4 | €157,941 | €117,831 | -€40,110 | -25.4% |
| Amounts payable within one year | 42/48 | €77,711 | €54,633 | -€23,078 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €9,683 | €10,110 | +€426 | +4.4% |
| Trade debts | 44 | €15,677 | €9,773 | -€5,904 | -37.7% |
| Suppliers | 440/4 | €15,677 | €9,773 | -€5,904 | -37.7% |
| Taxes, remuneration and social security | 45 | €3,742 | €13,381 | +€9,638 | +257.5% |
| Taxes | 450/3 | €3,742 | €3,390 | -€353 | -9.4% |
| Remuneration and social security | 454/9 | - | €9,991 | +€9,991 | |
| Other amounts payable | 47/48 | €48,608 | €21,369 | -€27,239 | -56.0% |
| Remuneration, social security and pensions | 62 | €148,999 | €180,153 | +€31,154 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,939 | €29,678 | +€6,739 | +29.4% |
| Other operating charges | 640/8 | €2,558 | €1,339 | -€1,219 | -47.7% |
| Gross operating margin | 9900 | €267,509 | €224,925 | -€42,583 | -15.9% |
| Operating profit (loss) | 9901 | €93,013 | €13,755 | -€79,258 | -85.2% |
| Financial income | 75/76B | €234 | €423 | +€189 | +80.9% |
| Recurring financial income | 75 | €234 | €423 | +€189 | +80.9% |
| Financial charges | 65/66B | €2,830 | €2,294 | -€536 | -19.0% |
| Recurring financial charges | 65 | €2,830 | €2,294 | -€536 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €90,416 | €11,884 | -€78,532 | -86.9% |
| Income taxes | 67/77 | €308 | €1,377 | +€1,069 | +347.3% |
| Profit (loss) for the period | 9904 | €90,108 | €10,508 | -€79,601 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,108 | €10,508 | -€79,601 | -88.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.