quality-codex: 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.
quality-codex
Largest movements
- Receivables within one year +€16,941
up €16,941 (+29.9%), from €56,613 to €73,554
of which Other amounts receivable: +€14,318
- Tangible fixed assets +€2,279
new in 2025: €2,279
- Cash -€1,410
down €1,410 (-11.0%), from €12,844 to €11,434
mainly Receivables within one year (-€16,941) and Tax, wage and social debts (-€11,552)
- Reserves +€29,407
up €29,407 (+68.1%), from €43,210 to €72,617
- Tax, wage and social debts -€11,552
down €11,552 (-61.8%), from €18,706 to €7,153
of which Taxes: -€11,552
- Gross operating margin +€15,137
up €15,137 (+34.9%), from €43,344 to €58,481
- Financial income +€2,087
up €2,087 (+196.3%), from €1,063 to €3,151
- Other operating charges +€1,227
up €1,227 (+284.6%), from €431 to €1,658
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 | €70,112 | €88,383 | +€18,271 | +26.1% |
| Fixed assets | 21/28 | - | €2,279 | +€2,279 | |
| Tangible fixed assets | 22/27 | - | €2,279 | +€2,279 | |
| Furniture and vehicles | 24 | - | €2,279 | +€2,279 | |
| Current assets | 29/58 | €70,112 | €86,104 | +€15,992 | +22.8% |
| Amounts receivable within one year | 40/41 | €56,613 | €73,554 | +€16,941 | +29.9% |
| Trade receivables | 40 | €6,963 | €9,586 | +€2,623 | +37.7% |
| Other amounts receivable | 41 | €49,650 | €63,968 | +€14,318 | +28.8% |
| Cash at bank and in hand | 54/58 | €12,844 | €11,434 | -€1,410 | -11.0% |
| Deferred charges and accrued income | 490/1 | €655 | €1,116 | +€461 | +70.3% |
| Total equity and liabilities | 10/49 | €70,112 | €88,383 | +€18,271 | +26.1% |
| Equity | 10/15 | €48,210 | €77,617 | +€29,407 | +61.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,210 | €72,617 | +€29,407 | +68.1% |
| Distributable reserves | 133 | €43,210 | €72,617 | +€29,407 | +68.1% |
| Amounts payable | 17/49 | €21,902 | €10,765 | -€11,137 | -50.8% |
| Amounts payable within one year | 42/48 | €21,657 | €10,765 | -€10,892 | -50.3% |
| Financial debts | 43 | €151 | €0 | -€151 | -100.0% |
| Other loans | 439 | €151 | €0 | -€151 | -100.0% |
| Trade debts | 44 | €2,800 | €3,612 | +€811 | +29.0% |
| Suppliers | 440/4 | €2,800 | €3,612 | +€811 | +29.0% |
| Taxes, remuneration and social security | 45 | €18,706 | €7,153 | -€11,552 | -61.8% |
| Taxes | 450/3 | €18,706 | €7,153 | -€11,552 | -61.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €245 | €0 | -€245 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €21 | +€21 | |
| Other operating charges | 640/8 | €431 | €1,658 | +€1,227 | +284.6% |
| Non-recurring operating charges | 66A | - | €20,669 | +€20,669 | |
| Gross operating margin | 9900 | €43,344 | €58,481 | +€15,137 | +34.9% |
| Operating profit (loss) | 9901 | €42,913 | €36,132 | -€6,781 | -15.8% |
| Financial income | 75/76B | €1,063 | €3,151 | +€2,087 | +196.3% |
| Recurring financial income | 75 | €1,063 | €3,151 | +€2,087 | +196.3% |
| Financial charges | 65/66B | €67 | €251 | +€184 | +274.3% |
| Recurring financial charges | 65 | €67 | €251 | +€184 | +274.3% |
| Profit (loss) for the period before taxes | 9903 | €43,909 | €39,031 | -€4,877 | -11.1% |
| Income taxes | 67/77 | €9,529 | €9,624 | +€94 | +1.0% |
| Profit (loss) for the period | 9904 | €34,379 | €29,407 | -€4,972 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,379 | €29,407 | -€4,972 | -14.5% |
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 29 September 2026 via checked.be.