QUALITY COLOR: 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 COLOR
Largest movements
- Stocks and contracts +€456,870
up €456,870 (+2,550%), from €17,917 to €474,787
- Cash -€246,118
down €246,118 (-86.5%), from €284,433 to €38,316
mainly Stocks and contracts (-€456,870) and Debts after one year (-€14,644)
- Receivables within one year -€122,304
down €122,304 (-75.2%), from €162,682 to €40,378
of which Trade receivables: -€121,173
- Tangible fixed assets -€18,663
down €18,663 (-40.7%), from €45,899 to €27,235
- Trade debts +€56,223
up €56,223 (+1,928%), from €2,917 to €59,140
- Other debts +€25,130
up €25,130, from €0 to €25,130
- Debts after one year -€14,644
down €14,644 (-36.8%), from €39,828 to €25,184
- Current portion of long-term debt -€6,447
down €6,447 (-28.8%), from €22,379 to €15,932
- Depreciation +€8,567
up €8,567 (+84.8%), from €10,096 to €18,663
- Gross operating margin +€7,457
up €7,457 (+13.9%), from €53,554 to €61,011
- Financial charges -€1,109
down €1,109 (-5.6%), from €19,719 to €18,609
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 | €513,192 | €582,845 | +€69,653 | +13.6% |
| Fixed assets | 21/28 | €46,399 | €27,735 | -€18,663 | -40.2% |
| Tangible fixed assets | 22/27 | €45,899 | €27,235 | -€18,663 | -40.7% |
| Furniture and vehicles | 24 | €45,899 | €27,235 | -€18,663 | -40.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €466,793 | €555,109 | +€88,316 | +18.9% |
| Stocks and contracts in progress | 3 | €17,917 | €474,787 | +€456,870 | +2,550% |
| Stocks | 30/36 | €17,917 | €474,787 | +€456,870 | +2,550% |
| Amounts receivable within one year | 40/41 | €162,682 | €40,378 | -€122,304 | -75.2% |
| Trade receivables | 40 | €139,426 | €18,253 | -€121,173 | -86.9% |
| Other amounts receivable | 41 | €23,255 | €22,125 | -€1,131 | -4.9% |
| Cash at bank and in hand | 54/58 | €284,433 | €38,316 | -€246,118 | -86.5% |
| Deferred charges and accrued income | 490/1 | €1,762 | €1,629 | -€133 | -7.5% |
| Total equity and liabilities | 10/49 | €513,192 | €582,845 | +€69,653 | +13.6% |
| Equity | 10/15 | €242,503 | €243,946 | +€1,444 | +0.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €215,003 | €216,446 | +€1,444 | +0.7% |
| Amounts payable | 17/49 | €270,689 | €338,898 | +€68,209 | +25.2% |
| Amounts payable after more than one year | 17 | €39,828 | €25,184 | -€14,644 | -36.8% |
| Financial debts | 170/4 | €39,828 | €25,184 | -€14,644 | -36.8% |
| Amounts payable within one year | 42/48 | €230,862 | €313,715 | +€82,853 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €22,379 | €15,932 | -€6,447 | -28.8% |
| Financial debts | 43 | €200,000 | €205,099 | +€5,099 | +2.5% |
| Credit institutions | 430/8 | €200,000 | €205,099 | +€5,099 | +2.5% |
| Trade debts | 44 | €2,917 | €59,140 | +€56,223 | +1,928% |
| Suppliers | 440/4 | €2,917 | €59,140 | +€56,223 | +1,928% |
| Taxes, remuneration and social security | 45 | €5,566 | €8,414 | +€2,848 | +51.2% |
| Taxes | 450/3 | €291 | €1,110 | +€819 | +282% |
| Remuneration and social security | 454/9 | €5,275 | €7,304 | +€2,029 | +38.5% |
| Other amounts payable | 47/48 | €0 | €25,130 | +€25,130 | |
| Remuneration, social security and pensions | 62 | €21,146 | €21,290 | +€144 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,096 | €18,663 | +€8,567 | +84.8% |
| Other operating charges | 640/8 | €476 | €739 | +€264 | +55.4% |
| Gross operating margin | 9900 | €53,554 | €61,011 | +€7,457 | +13.9% |
| Operating profit (loss) | 9901 | €21,836 | €20,319 | -€1,517 | -6.9% |
| Financial income | 75/76B | €277 | €597 | +€320 | +116% |
| Recurring financial income | 75 | €277 | €597 | +€320 | +116% |
| Financial charges | 65/66B | €19,719 | €18,609 | -€1,109 | -5.6% |
| Recurring financial charges | 65 | €19,719 | €18,609 | -€1,109 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €2,394 | €2,306 | -€88 | -3.7% |
| Income taxes | 67/77 | €781 | €862 | +€82 | +10.5% |
| Profit (loss) for the period | 9904 | €1,614 | €1,444 | -€170 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,614 | €1,444 | -€170 | -10.5% |
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 25 October 2026 via checked.be.