QUALIECO: 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.
QUALIECO
Largest movements
- Stocks and contracts +€252,511
up €252,511 (+59.9%), from €421,449 to €673,960
- Cash -€55,978
down €55,978 (-89.9%), from €62,247 to €6,269
mainly Stocks and contracts (-€252,511) and Net result for the year (-€58,052)
- Tangible fixed assets -€7,337
down €7,337 (-66.0%), from €11,121 to €3,784
of which Furniture and vehicles: -€5,436
- Debts after one year +€230,000
up €230,000 (+230%), from €100,000 to €330,000
- Profit (loss) carried forward -€58,052
down €58,052 (-71.3%), from -€81,466 to -€139,519
- Other debts +€20,844
up €20,844 (+4.5%), from €460,712 to €481,556
- Financial charges +€15,698
up €15,698 (+152%), from €10,354 to €26,052
- Depreciation -€2,698
down €2,698 (-26.9%), from €10,035 to €7,337
- Gross operating margin +€580
up €580 (+2.3%), from -€24,738 to -€24,158
- Other operating charges -€363
down €363 (-41.8%), from €869 to €506
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.
Derived cash bridge
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 | €512,147 | €704,739 | +€192,592 | +37.6% |
| Fixed assets | 21/28 | €11,121 | €3,784 | -€7,337 | -66.0% |
| Tangible fixed assets | 22/27 | €11,121 | €3,784 | -€7,337 | -66.0% |
| Plant, machinery and equipment | 23 | €2,814 | €913 | -€1,901 | -67.6% |
| Furniture and vehicles | 24 | €8,307 | €2,871 | -€5,436 | -65.4% |
| Current assets | 29/58 | €501,026 | €700,955 | +€199,929 | +39.9% |
| Stocks and contracts in progress | 3 | €421,449 | €673,960 | +€252,511 | +59.9% |
| Stocks | 30/36 | €421,449 | €673,960 | +€252,511 | +59.9% |
| Amounts receivable within one year | 40/41 | €17,010 | €20,457 | +€3,446 | +20.3% |
| Trade receivables | 40 | €9,073 | €276 | -€8,797 | -97.0% |
| Other amounts receivable | 41 | €7,938 | €20,181 | +€12,243 | +154% |
| Cash at bank and in hand | 54/58 | €62,247 | €6,269 | -€55,978 | -89.9% |
| Deferred charges and accrued income | 490/1 | €319 | €270 | -€50 | -15.6% |
| Total equity and liabilities | 10/49 | €512,147 | €704,739 | +€192,592 | +37.6% |
| Equity | 10/15 | -€62,866 | -€120,919 | -€58,052 | -92.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,466 | -€139,519 | -€58,052 | -71.3% |
| Amounts payable | 17/49 | €575,013 | €825,658 | +€250,645 | +43.6% |
| Amounts payable after more than one year | 17 | €100,000 | €330,000 | +€230,000 | +230% |
| Financial debts | 170/4 | €100,000 | €330,000 | +€230,000 | +230% |
| Amounts payable within one year | 42/48 | €475,013 | €495,658 | +€20,645 | +4.3% |
| Trade debts | 44 | €11,389 | €9,995 | -€1,394 | -12.2% |
| Suppliers | 440/4 | €11,389 | €9,995 | -€1,394 | -12.2% |
| Taxes, remuneration and social security | 45 | €2,912 | €4,107 | +€1,194 | +41.0% |
| Taxes | 450/3 | €2,912 | €4,107 | +€1,194 | +41.0% |
| Other amounts payable | 47/48 | €460,712 | €481,556 | +€20,844 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,035 | €7,337 | -€2,698 | -26.9% |
| Other operating charges | 640/8 | €869 | €506 | -€363 | -41.8% |
| Gross operating margin | 9900 | -€24,738 | -€24,158 | +€580 | +2.3% |
| Operating profit (loss) | 9901 | -€35,642 | -€32,000 | +€3,642 | +10.2% |
| Financial income | 75/76B | €5 | €0 | -€5 | -100% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -100% |
| Financial charges | 65/66B | €10,354 | €26,052 | +€15,698 | +152% |
| Recurring financial charges | 65 | €10,354 | €26,052 | +€15,698 | +152% |
| Profit (loss) for the period before taxes | 9903 | -€45,991 | -€58,052 | -€12,062 | -26.2% |
| Profit (loss) for the period | 9904 | -€45,991 | -€58,052 | -€12,062 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,991 | -€58,052 | -€12,062 | -26.2% |
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 1 November 2026 via checked.be.