QUALIFINAS: what changed
QUALIFINAS
Largest movements
- Tangible fixed assets +€67,556
up €67,556 (+2,400%), from €2,815 to €70,371
of which Furniture and vehicles: +€67,580
- Cash -€52,947
down €52,947 (-70.2%), from €75,448 to €22,501
mainly Contributions, distributions and other (-€74,580) and Investment in fixed assets (net) (-€71,240)
- Stocks and contracts -€3,128
down €3,128 (-27.0%), from €11,603 to €8,475
- Current portion of long-term debt +€12,308
new in 2025: €12,308
- Debts after one year +€11,685
new in 2025: €11,685
- Other debts -€11,220
down €11,220 (-12.1%), from €93,032 to €81,812
- Trade debts -€3,540
down €3,540 (-68.2%), from €5,188 to €1,649
- Tax, wage and social debts +€2,875
up €2,875 (+51.1%), from €5,626 to €8,501
of which Taxes: +€2,851
- Taxes -€6,807
down €6,807 (-25.2%), from €27,031 to €20,223
- Gross operating margin +€6,487
up €6,487 (+5.3%), from €122,586 to €129,073
- Depreciation +€1,445
up €1,445 (+64.5%), from €2,239 to €3,684
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 | €103,846 | €115,955 | +€12,109 | +11.7% |
| Fixed assets | 21/28 | €2,815 | €70,371 | +€67,556 | +2,400% |
| Tangible fixed assets | 22/27 | €2,815 | €70,371 | +€67,556 | +2,400% |
| Plant, machinery and equipment | 23 | €24 | €0 | -€24 | -100% |
| Furniture and vehicles | 24 | €2,791 | €70,371 | +€67,580 | +2,421% |
| Current assets | 29/58 | €101,031 | €45,584 | -€55,447 | -54.9% |
| Stocks and contracts in progress | 3 | €11,603 | €8,475 | -€3,128 | -27.0% |
| Stocks | 30/36 | €11,603 | €8,475 | -€3,128 | -27.0% |
| Amounts receivable within one year | 40/41 | €9,959 | €10,914 | +€954 | +9.6% |
| Trade receivables | 40 | €1,683 | €3,117 | +€1,434 | +85.2% |
| Other amounts receivable | 41 | €8,276 | €7,797 | -€480 | -5.8% |
| Cash at bank and in hand | 54/58 | €75,448 | €22,501 | -€52,947 | -70.2% |
| Deferred charges and accrued income | 490/1 | €4,020 | €3,694 | -€326 | -8.1% |
| Total equity and liabilities | 10/49 | €103,846 | €115,955 | +€12,109 | +11.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €103,846 | €115,955 | +€12,109 | +11.7% |
| Amounts payable after more than one year | 17 | - | €11,685 | +€11,685 | |
| Financial debts | 170/4 | - | €11,685 | +€11,685 | |
| Amounts payable within one year | 42/48 | €103,846 | €104,270 | +€424 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | - | €12,308 | +€12,308 | |
| Trade debts | 44 | €5,188 | €1,649 | -€3,540 | -68.2% |
| Suppliers | 440/4 | €5,188 | €1,649 | -€3,540 | -68.2% |
| Taxes, remuneration and social security | 45 | €5,626 | €8,501 | +€2,875 | +51.1% |
| Taxes | 450/3 | €3,812 | €6,663 | +€2,851 | +74.8% |
| Remuneration and social security | 454/9 | €1,814 | €1,838 | +€24 | +1.3% |
| Other amounts payable | 47/48 | €93,032 | €81,812 | -€11,220 | -12.1% |
| Non-recurring operating income | 76A | €0 | €143 | +€143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,239 | €3,684 | +€1,445 | +64.5% |
| Other operating charges | 640/8 | €1,370 | €959 | -€410 | -30.0% |
| Non-recurring operating charges | 66A | €0 | €29,287 | +€29,287 | |
| Gross operating margin | 9900 | €122,586 | €129,073 | +€6,487 | +5.3% |
| Operating profit (loss) | 9901 | €118,977 | €95,143 | -€23,834 | -20.0% |
| Financial income | 75/76B | €89 | €79 | -€10 | -11.1% |
| Recurring financial income | 75 | €89 | €79 | -€10 | -11.1% |
| Financial charges | 65/66B | €1,131 | €418 | -€713 | -63.0% |
| Recurring financial charges | 65 | €1,131 | €418 | -€713 | -63.0% |
| Profit (loss) for the period before taxes | 9903 | €117,935 | €94,804 | -€23,131 | -19.6% |
| Income taxes | 67/77 | €27,031 | €20,223 | -€6,807 | -25.2% |
| Profit (loss) for the period | 9904 | €90,904 | €74,580 | -€16,324 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,904 | €74,580 | -€16,324 | -18.0% |
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 8 November 2026 via checked.be.