Qualigave: 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.
Qualigave
Largest movements
- Intangible fixed assets +€122,549
new in 2025: €122,549
- Tangible fixed assets +€26,638
up €26,638 (+170.2%), from €15,651 to €42,289
of which Land and buildings: +€26,892
- Cash +€21,830
up €21,830 (+73.7%), from €29,621 to €51,451
mainly Debts after one year (+€110,036) and Net result for the year (+€58,019)
- Receivables within one year +€9,386
up €9,386 (+28.6%), from €32,763 to €42,149
of which Trade receivables: +€7,264
- Debts after one year +€110,036
new in 2025: €110,036
- Other debts +€28,450
up €28,450 (+54.0%), from €52,700 to €81,150
- Current portion of long-term debt +€22,894
new in 2025: €22,894
- Advances received +€14,614
new in 2025: €14,614
- Trade debts +€7,132
up €7,132 (+8535.7%), from €84 to €7,216
- Depreciation +€3,463
up €3,463 (+180.8%), from €1,916 to €5,379
- Financial charges +€1,989
up €1,989 (+679.7%), from €293 to €2,282
- Taxes -€1,605
down €1,605 (-6.9%), from €23,169 to €21,564
- Gross operating margin -€967
down €967 (-1.1%), from €88,885 to €87,917
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 | €78,052 | €258,456 | +€180,403 | +231.1% |
| Fixed assets | 21/28 | €15,668 | €164,856 | +€149,187 | +952.2% |
| Intangible fixed assets | 21 | - | €122,549 | +€122,549 | |
| Tangible fixed assets | 22/27 | €15,651 | €42,289 | +€26,638 | +170.2% |
| Land and buildings | 22 | €6,345 | €33,237 | +€26,892 | +423.9% |
| Plant, machinery and equipment | 23 | €832 | €701 | -€131 | -15.8% |
| Furniture and vehicles | 24 | €8,474 | €8,351 | -€123 | -1.4% |
| Financial fixed assets | 28 | €17 | €17 | = | 0.0% |
| Current assets | 29/58 | €62,384 | €93,600 | +€31,216 | +50.0% |
| Amounts receivable within one year | 40/41 | €32,763 | €42,149 | +€9,386 | +28.6% |
| Trade receivables | 40 | €27,632 | €34,897 | +€7,264 | +26.3% |
| Other amounts receivable | 41 | €5,130 | €7,252 | +€2,121 | +41.3% |
| Cash at bank and in hand | 54/58 | €29,621 | €51,451 | +€21,830 | +73.7% |
| Total equity and liabilities | 10/49 | €78,052 | €258,456 | +€180,403 | +231.1% |
| Equity | 10/15 | €1,860 | €2,880 | +€1,019 | +54.8% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €1,020 | +€1,019 | +424783.3% |
| Amounts payable | 17/49 | €76,192 | €255,576 | +€179,384 | +235.4% |
| Amounts payable after more than one year | 17 | - | €110,036 | +€110,036 | |
| Financial debts | 170/4 | - | €110,036 | +€110,036 | |
| Amounts payable within one year | 42/48 | €76,192 | €145,540 | +€69,347 | +91.0% |
| Current portion of amounts payable after more than one year | 42 | - | €22,894 | +€22,894 | |
| Trade debts | 44 | €84 | €7,216 | +€7,132 | +8535.7% |
| Suppliers | 440/4 | €84 | €7,216 | +€7,132 | +8535.7% |
| Advances received on contracts in progress | 46 | - | €14,614 | +€14,614 | |
| Taxes, remuneration and social security | 45 | €23,409 | €19,666 | -€3,743 | -16.0% |
| Taxes | 450/3 | €23,409 | €19,666 | -€3,743 | -16.0% |
| Other amounts payable | 47/48 | €52,700 | €81,150 | +€28,450 | +54.0% |
| Non-recurring operating income | 76A | - | €13,700 | +€13,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,916 | €5,379 | +€3,463 | +180.8% |
| Other operating charges | 640/8 | €1,532 | €906 | -€626 | -40.9% |
| Gross operating margin | 9900 | €88,885 | €87,917 | -€967 | -1.1% |
| Operating profit (loss) | 9901 | €85,437 | €81,632 | -€3,804 | -4.5% |
| Financial income | 75/76B | €25 | €233 | +€208 | +832.8% |
| Recurring financial income | 75 | €25 | €233 | +€208 | +832.8% |
| Financial charges | 65/66B | €293 | €2,282 | +€1,989 | +679.7% |
| Recurring financial charges | 65 | €293 | €2,282 | +€1,989 | +679.7% |
| Profit (loss) for the period before taxes | 9903 | €85,169 | €79,584 | -€5,585 | -6.6% |
| Income taxes | 67/77 | €23,169 | €21,564 | -€1,605 | -6.9% |
| Profit (loss) for the period | 9904 | €62,000 | €58,019 | -€3,981 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,000 | €58,019 | -€3,981 | -6.4% |
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 7 October 2026 via checked.be.