QUALIPA: 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.
QUALIPA
Largest movements
- Current investments +€667,761
up €667,761 (+116.4%), from €573,748 to €1.2m
- Cash -€593,476
down €593,476 (-68.9%), from €861,347 to €267,871
mainly Current investments (-€667,761) and Receivables within one year (-€4,670)
- Other debts +€49,287
up €49,287 (+5.7%), from €869,933 to €919,220
- Profit (loss) carried forward +€28,585
up €28,585 (+4.3%), from €672,310 to €700,895
- Gross operating margin -€31,984
down €31,984 (-38.2%), from €83,643 to €51,659
- Financial income +€5,495
up €5,495 (+12.9%), from €42,532 to €48,027
- Taxes -€3,571
down €3,571 (-20.8%), from €17,146 to €13,575
- Financial charges -€2,850
down €2,850 (-5.2%), from €54,894 to €52,044
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 | €1,579,841 | €1,655,650 | +€75,809 | +4.8% |
| Fixed assets | 21/28 | €134,532 | €131,100 | -€3,432 | -2.6% |
| Tangible fixed assets | 22/27 | €134,532 | €131,100 | -€3,432 | -2.6% |
| Land and buildings | 22 | €134,532 | €131,100 | -€3,432 | -2.6% |
| Current assets | 29/58 | €1,445,309 | €1,524,550 | +€79,241 | +5.5% |
| Amounts receivable within one year | 40/41 | €9,473 | €14,143 | +€4,670 | +49.3% |
| Trade receivables | 40 | €4,325 | €9,816 | +€5,491 | +127.0% |
| Other amounts receivable | 41 | €5,148 | €4,327 | -€821 | -15.9% |
| Current investments | 50/53 | €573,748 | €1,241,509 | +€667,761 | +116.4% |
| Cash at bank and in hand | 54/58 | €861,347 | €267,871 | -€593,476 | -68.9% |
| Deferred charges and accrued income | 490/1 | €742 | €1,027 | +€285 | +38.4% |
| Total equity and liabilities | 10/49 | €1,579,841 | €1,655,650 | +€75,809 | +4.8% |
| Equity | 10/15 | €686,570 | €715,155 | +€28,585 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €672,310 | €700,895 | +€28,585 | +4.3% |
| Amounts payable | 17/49 | €893,271 | €940,495 | +€47,224 | +5.3% |
| Amounts payable within one year | 42/48 | €893,271 | €937,010 | +€43,739 | +4.9% |
| Trade debts | 44 | €1,884 | - | -€1,884 | |
| Suppliers | 440/4 | €1,884 | - | -€1,884 | |
| Taxes, remuneration and social security | 45 | €21,454 | €17,790 | -€3,664 | -17.1% |
| Taxes | 450/3 | €21,454 | €17,790 | -€3,664 | -17.1% |
| Other amounts payable | 47/48 | €869,933 | €919,220 | +€49,287 | +5.7% |
| Accrued charges and deferred income | 492/3 | - | €3,485 | +€3,485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,432 | €3,432 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,990 | €2,050 | +€60 | +3.0% |
| Gross operating margin | 9900 | €83,643 | €51,659 | -€31,984 | -38.2% |
| Operating profit (loss) | 9901 | €78,221 | €46,177 | -€32,044 | -41.0% |
| Financial income | 75/76B | €42,532 | €48,027 | +€5,495 | +12.9% |
| Recurring financial income | 75 | €42,532 | €48,027 | +€5,495 | +12.9% |
| Financial charges | 65/66B | €54,894 | €52,044 | -€2,850 | -5.2% |
| Recurring financial charges | 65 | €54,894 | €52,044 | -€2,850 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €65,859 | €42,160 | -€23,699 | -36.0% |
| Income taxes | 67/77 | €17,146 | €13,575 | -€3,571 | -20.8% |
| Profit (loss) for the period | 9904 | €48,713 | €28,585 | -€20,128 | -41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,713 | €28,585 | -€20,128 | -41.3% |
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 6 October 2026 via checked.be.