QUALITY MODELING: 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 MODELING
Largest movements
- Receivables within one year +€57,266
up €57,266 (+202%), from €28,335 to €85,601
of which Trade receivables: +€57,290
- Tangible fixed assets -€26,733
down €26,733 (-3.4%), from €783,637 to €756,904
of which Other tangible fixed assets: -€19,756
- Deferred charges and accrued income -€14,525
down €14,525 (-40.2%), from €36,125 to €21,600
- Cash -€10,861
down €10,861 (-33.2%), from €32,698 to €21,837
mainly Receivables within one year (-€57,266) and Debts after one year (-€56,390)
- Reserves +€60,992
up €60,992 (+17.6%), from €347,004 to €407,996
- Debts after one year -€56,390
down €56,390 (-27.5%), from €205,416 to €149,026
- Depreciation +€12,190
up €12,190 (+30.1%), from €40,469 to €52,658
- Gross operating margin -€8,630
down €8,630 (-4.2%), from €205,363 to €196,734
- Taxes -€7,070
down €7,070 (-21.4%), from €33,113 to €26,044
- Financial charges +€4,276
up €4,276 (+89.3%), from €4,787 to €9,063
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 | €880,795 | €885,942 | +€5,146 | +0.6% |
| Fixed assets | 21/28 | €783,637 | €756,904 | -€26,733 | -3.4% |
| Tangible fixed assets | 22/27 | €783,637 | €756,904 | -€26,733 | -3.4% |
| Land and buildings | 22 | €335,864 | €329,693 | -€6,171 | -1.8% |
| Plant, machinery and equipment | 23 | €2,753 | €1,778 | -€974 | -35.4% |
| Furniture and vehicles | 24 | €109,433 | €109,601 | +€169 | +0.2% |
| Other tangible fixed assets | 26 | €335,587 | €315,831 | -€19,756 | -5.9% |
| Current assets | 29/58 | €97,158 | €129,038 | +€31,879 | +32.8% |
| Amounts receivable within one year | 40/41 | €28,335 | €85,601 | +€57,266 | +202% |
| Trade receivables | 40 | €28,311 | €85,601 | +€57,290 | +202% |
| Other amounts receivable | 41 | €24 | - | -€24 | |
| Cash at bank and in hand | 54/58 | €32,698 | €21,837 | -€10,861 | -33.2% |
| Deferred charges and accrued income | 490/1 | €36,125 | €21,600 | -€14,525 | -40.2% |
| Total equity and liabilities | 10/49 | €880,795 | €885,942 | +€5,146 | +0.6% |
| Equity | 10/15 | €365,604 | €426,596 | +€60,992 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €347,004 | €407,996 | +€60,992 | +17.6% |
| Distributable reserves | 133 | €347,004 | €407,996 | +€60,992 | +17.6% |
| Amounts payable | 17/49 | €515,191 | €459,346 | -€55,846 | -10.8% |
| Amounts payable after more than one year | 17 | €205,416 | €149,026 | -€56,390 | -27.5% |
| Financial debts | 170/4 | €205,416 | €149,026 | -€56,390 | -27.5% |
| Amounts payable within one year | 42/48 | €304,555 | €303,027 | -€1,528 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €56,137 | €56,400 | +€263 | +0.5% |
| Trade debts | 44 | €43,804 | €37,187 | -€6,617 | -15.1% |
| Suppliers | 440/4 | €43,804 | €37,187 | -€6,617 | -15.1% |
| Taxes, remuneration and social security | 45 | €49,558 | €49,105 | -€453 | -0.9% |
| Taxes | 450/3 | €33,749 | €37,707 | +€3,958 | +11.7% |
| Remuneration and social security | 454/9 | €15,809 | €11,398 | -€4,412 | -27.9% |
| Other amounts payable | 47/48 | €155,055 | €160,335 | +€5,279 | +3.4% |
| Accrued charges and deferred income | 492/3 | €5,220 | €7,293 | +€2,073 | +39.7% |
| Remuneration, social security and pensions | 62 | €42,214 | €42,943 | +€729 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,469 | €52,658 | +€12,190 | +30.1% |
| Other operating charges | 640/8 | €4,794 | €5,034 | +€240 | +5.0% |
| Gross operating margin | 9900 | €205,363 | €196,734 | -€8,630 | -4.2% |
| Operating profit (loss) | 9901 | €117,887 | €96,099 | -€21,788 | -18.5% |
| Financial charges | 65/66B | €4,787 | €9,063 | +€4,276 | +89.3% |
| Recurring financial charges | 65 | €4,787 | €9,063 | +€4,276 | +89.3% |
| Profit (loss) for the period before taxes | 9903 | €113,100 | €87,036 | -€26,064 | -23.0% |
| Income taxes | 67/77 | €33,113 | €26,044 | -€7,070 | -21.4% |
| Profit (loss) for the period | 9904 | €79,987 | €60,992 | -€18,995 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €79,987 | €60,992 | -€18,995 | -23.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.