Quality Management: 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 Management
Largest movements
- Receivables within one year +€110,551
up €110,551 (+45.8%), from €241,361 to €351,912
- Cash -€39,098
down €39,098 (-46.9%), from €83,318 to €44,220
mainly Receivables within one year (-€110,551) and Contributions, distributions and other (-€101,419)
- Tangible fixed assets +€8,210
up €8,210 (+358.2%), from €2,292 to €10,502
of which Furniture and vehicles: +€8,660
- Other debts +€100,619
up €100,619 (+12577.4%), from €800 to €101,419
- Tax, wage and social debts -€61,526
down €61,526 (-49.3%), from €124,725 to €63,199
- Trade debts +€38,821
up €38,821 (+3291.3%), from €1,180 to €40,001
- Reserves +€17,005
up €17,005 (+4.7%), from €362,201 to €379,206
of which Distributable reserves: +€18,865
- Short-term financial debts -€13,851
down €13,851 (-65.3%), from €21,217 to €7,366
- Financial income +€20,104
up €20,104 (+141.1%), from €14,250 to €34,353
of which Non-recurring financial income: +€21,295
- Taxes +€10,763
up €10,763 (+21.9%), from €49,044 to €59,808
- Other operating charges +€7,892
up €7,892 (+250.1%), from €3,155 to €11,047
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 | €529,398 | €610,381 | +€80,983 | +15.3% |
| Fixed assets | 21/28 | €2,292 | €10,502 | +€8,210 | +358.2% |
| Tangible fixed assets | 22/27 | €2,292 | €10,502 | +€8,210 | +358.2% |
| Furniture and vehicles | 24 | €1,044 | €9,704 | +€8,660 | +829.5% |
| Other tangible fixed assets | 26 | €1,248 | €798 | -€450 | -36.0% |
| Current assets | 29/58 | €527,106 | €599,878 | +€72,773 | +13.8% |
| Amounts receivable within one year | 40/41 | €241,361 | €351,912 | +€110,551 | +45.8% |
| Trade receivables | 40 | €241,361 | €351,912 | +€110,551 | +45.8% |
| Current investments | 50/53 | €199,850 | €199,839 | -€11 | 0.0% |
| Cash at bank and in hand | 54/58 | €83,318 | €44,220 | -€39,098 | -46.9% |
| Deferred charges and accrued income | 490/1 | €2,577 | €3,908 | +€1,331 | +51.6% |
| Total equity and liabilities | 10/49 | €529,398 | €610,381 | +€80,983 | +15.3% |
| Equity | 10/15 | €380,801 | €397,806 | +€17,005 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,201 | €379,206 | +€17,005 | +4.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €360,341 | €379,206 | +€18,865 | +5.2% |
| Amounts payable | 17/49 | €148,597 | €212,574 | +€63,978 | +43.1% |
| Amounts payable within one year | 42/48 | €147,921 | €211,986 | +€64,064 | +43.3% |
| Financial debts | 43 | €21,217 | €7,366 | -€13,851 | -65.3% |
| Other loans | 439 | €21,217 | €7,366 | -€13,851 | -65.3% |
| Trade debts | 44 | €1,180 | €40,001 | +€38,821 | +3291.3% |
| Suppliers | 440/4 | €1,180 | €40,001 | +€38,821 | +3291.3% |
| Taxes, remuneration and social security | 45 | €124,725 | €63,199 | -€61,526 | -49.3% |
| Taxes | 450/3 | €124,725 | €63,199 | -€61,526 | -49.3% |
| Other amounts payable | 47/48 | €800 | €101,419 | +€100,619 | +12577.4% |
| Accrued charges and deferred income | 492/3 | €675 | €589 | -€87 | -12.8% |
| Non-recurring operating income | 76A | - | €18,447 | +€18,447 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,121 | €1,582 | +€462 | +41.2% |
| Other operating charges | 640/8 | €3,155 | €11,047 | +€7,892 | +250.1% |
| Gross operating margin | 9900 | €157,448 | €158,947 | +€1,499 | +1.0% |
| Operating profit (loss) | 9901 | €153,172 | €146,317 | -€6,854 | -4.5% |
| Financial income | 75/76B | €14,250 | €34,353 | +€20,104 | +141.1% |
| Recurring financial income | 75 | €14,250 | €13,058 | -€1,192 | -8.4% |
| Non-recurring financial income | 76B | - | €21,295 | +€21,295 | |
| Financial charges | 65/66B | €2,679 | €2,438 | -€240 | -9.0% |
| Recurring financial charges | 65 | €2,679 | €2,438 | -€240 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €164,743 | €178,232 | +€13,490 | +8.2% |
| Income taxes | 67/77 | €49,044 | €59,808 | +€10,763 | +21.9% |
| Profit (loss) for the period | 9904 | €115,698 | €118,425 | +€2,726 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €115,698 | €118,425 | +€2,726 | +2.4% |
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 5 October 2026 via checked.be.