QUALITY BOILING: 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.
QUALITY BOILING
Largest movements
- Stocks and contracts +€60,000
new in 2025: €60,000
- Receivables within one year -€55,917
down €55,917 (-24.1%), from €231,705 to €175,788
of which Other amounts receivable: -€51,789
- Cash -€32,849
down €32,849 (-36.3%), from €90,478 to €57,629
mainly Accrued charges and deferred income (-€116,043) and Stocks and contracts (-€60,000)
- Tangible fixed assets -€17,931
down €17,931 (-20.2%), from €88,750 to €70,819
of which Plant, machinery and equipment: -€10,232
- Accrued charges and deferred income -€116,043
down €116,043 (-91.6%), from €126,716 to €10,672
- Trade debts +€86,083
up €86,083 (+1,888%), from €4,560 to €90,643
- Tax, wage and social debts -€20,253
down €20,253 (-45.4%), from €44,598 to €24,345
of which Taxes: -€12,620
- Reserves +€6,781
up €6,781 (+4.9%), from €139,195 to €145,976
- Gross operating margin -€78,100
down €78,100 (-42.2%), from €185,136 to €107,036
- Staff costs -€22,751
down €22,751 (-22.6%), from €100,504 to €77,753
- Taxes -€16,017
down €16,017 (-77.3%), from €20,725 to €4,708
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 | €424,762 | €381,330 | -€43,432 | -10.2% |
| Fixed assets | 21/28 | €91,250 | €73,319 | -€17,931 | -19.7% |
| Tangible fixed assets | 22/27 | €88,750 | €70,819 | -€17,931 | -20.2% |
| Plant, machinery and equipment | 23 | €34,771 | €24,539 | -€10,232 | -29.4% |
| Furniture and vehicles | 24 | €755 | €155 | -€600 | -79.5% |
| Other tangible fixed assets | 26 | €53,224 | €46,125 | -€7,099 | -13.3% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €333,512 | €308,011 | -€25,501 | -7.6% |
| Stocks and contracts in progress | 3 | - | €60,000 | +€60,000 | |
| Contracts in progress | 37 | - | €60,000 | +€60,000 | |
| Amounts receivable within one year | 40/41 | €231,705 | €175,788 | -€55,917 | -24.1% |
| Trade receivables | 40 | €26,805 | €22,677 | -€4,128 | -15.4% |
| Other amounts receivable | 41 | €204,900 | €153,111 | -€51,789 | -25.3% |
| Cash at bank and in hand | 54/58 | €90,478 | €57,629 | -€32,849 | -36.3% |
| Deferred charges and accrued income | 490/1 | €11,329 | €14,594 | +€3,265 | +28.8% |
| Total equity and liabilities | 10/49 | €424,762 | €381,330 | -€43,432 | -10.2% |
| Equity | 10/15 | €145,395 | €152,176 | +€6,781 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €139,195 | €145,976 | +€6,781 | +4.9% |
| Distributable reserves | 133 | €139,195 | €145,976 | +€6,781 | +4.9% |
| Amounts payable | 17/49 | €279,367 | €229,154 | -€50,213 | -18.0% |
| Amounts payable within one year | 42/48 | €152,652 | €218,482 | +€65,830 | +43.1% |
| Trade debts | 44 | €4,560 | €90,643 | +€86,083 | +1,888% |
| Suppliers | 440/4 | €4,560 | €90,643 | +€86,083 | +1,888% |
| Taxes, remuneration and social security | 45 | €44,598 | €24,345 | -€20,253 | -45.4% |
| Taxes | 450/3 | €31,939 | €19,319 | -€12,620 | -39.5% |
| Remuneration and social security | 454/9 | €12,659 | €5,026 | -€7,633 | -60.3% |
| Other amounts payable | 47/48 | €103,494 | €103,494 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €126,716 | €10,672 | -€116,043 | -91.6% |
| Remuneration, social security and pensions | 62 | €100,504 | €77,753 | -€22,751 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,325 | €21,131 | -€1,194 | -5.3% |
| Other operating charges | 640/8 | €2,384 | €807 | -€1,577 | -66.1% |
| Gross operating margin | 9900 | €185,136 | €107,036 | -€78,100 | -42.2% |
| Operating profit (loss) | 9901 | €59,923 | €7,345 | -€52,578 | -87.7% |
| Financial income | 75/76B | €5,621 | €5,592 | -€29 | -0.5% |
| Recurring financial income | 75 | €5,621 | €5,592 | -€29 | -0.5% |
| Financial charges | 65/66B | €2,998 | €1,447 | -€1,551 | -51.7% |
| Recurring financial charges | 65 | €2,998 | €1,447 | -€1,551 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €62,545 | €11,490 | -€51,056 | -81.6% |
| Income taxes | 67/77 | €20,725 | €4,708 | -€16,017 | -77.3% |
| Profit (loss) for the period | 9904 | €41,820 | €6,781 | -€35,039 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,820 | €6,781 | -€35,039 | -83.8% |
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 13 October 2026 via checked.be.