QUALITY PACK: what changed
QUALITY PACK
Largest movements
- Receivables within one year +€31,013
up €31,013 (+25.9%), from €119,794 to €150,807
of which Trade receivables: +€39,539
- Cash +€7,299
up €7,299 (+4.6%), from €159,154 to €166,453
mainly Trade debts (+€25,187) and Net result for the year (+€23,083)
- Deferred charges and accrued income +€3,587
up €3,587 (+228%), from €1,576 to €5,163
- Trade debts +€25,187
up €25,187 (+82.1%), from €30,685 to €55,872
- Reserves +€23,000
up €23,000 (+11.7%), from €196,177 to €219,177
of which Distributable reserves: +€23,000
- Short-term financial debts -€10,000
down €10,000 (-100%), from €10,000 to €0
- Tax, wage and social debts +€6,132
up €6,132 (+13.4%), from €45,593 to €51,726
- Gross operating margin +€1,322
up €1,322 (+3.2%), from €41,926 to €43,249
- Other operating charges -€835
down €835 (-49.6%), from €1,684 to €849
- Financial charges +€739
up €739 (+12.5%), from €5,915 to €6,654
- Financial income -€594
down €594 (-28.5%), from €2,082 to €1,488
- Taxes +€495
up €495 (+4.9%), from €10,081 to €10,576
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,703 | €346,105 | +€44,403 | +14.7% |
| Fixed assets | 21/28 | €4,133 | €6,636 | +€2,503 | +60.6% |
| Tangible fixed assets | 22/27 | €4,133 | €6,636 | +€2,503 | +60.6% |
| Furniture and vehicles | 24 | €4,133 | €2,460 | -€1,673 | -40.5% |
| Other tangible fixed assets | 26 | €0 | €4,176 | +€4,176 | |
| Current assets | 29/58 | €297,570 | €339,469 | +€41,899 | +14.1% |
| Stocks and contracts in progress | 3 | €17,045 | €17,045 | = | 0.0% |
| Stocks | 30/36 | €17,045 | €17,045 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €119,794 | €150,807 | +€31,013 | +25.9% |
| Trade receivables | 40 | €88,630 | €128,169 | +€39,539 | +44.6% |
| Other amounts receivable | 41 | €31,164 | €22,638 | -€8,526 | -27.4% |
| Cash at bank and in hand | 54/58 | €159,154 | €166,453 | +€7,299 | +4.6% |
| Deferred charges and accrued income | 490/1 | €1,576 | €5,163 | +€3,587 | +228% |
| Total equity and liabilities | 10/49 | €301,703 | €346,105 | +€44,403 | +14.7% |
| Equity | 10/15 | €215,424 | €238,508 | +€23,083 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,177 | €219,177 | +€23,000 | +11.7% |
| Tax-exempt reserves | 132 | €10,317 | €10,317 | = | 0.0% |
| Distributable reserves | 133 | €185,860 | €208,860 | +€23,000 | +12.4% |
| Profit (loss) carried forward | 14 | €647 | €731 | +€83 | +12.9% |
| Amounts payable | 17/49 | €86,279 | €107,598 | +€21,319 | +24.7% |
| Amounts payable within one year | 42/48 | €86,279 | €107,598 | +€21,319 | +24.7% |
| Financial debts | 43 | €10,000 | €0 | -€10,000 | -100% |
| Credit institutions | 430/8 | €10,000 | €0 | -€10,000 | -100% |
| Trade debts | 44 | €30,685 | €55,872 | +€25,187 | +82.1% |
| Suppliers | 440/4 | €30,685 | €55,872 | +€25,187 | +82.1% |
| Taxes, remuneration and social security | 45 | €45,593 | €51,726 | +€6,132 | +13.4% |
| Taxes | 450/3 | €45,593 | €51,726 | +€6,132 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,325 | €3,575 | +€249 | +7.5% |
| Other operating charges | 640/8 | €1,684 | €849 | -€835 | -49.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €41,926 | €43,249 | +€1,322 | +3.2% |
| Operating profit (loss) | 9901 | €36,917 | €38,826 | +€1,908 | +5.2% |
| Financial income | 75/76B | €2,082 | €1,488 | -€594 | -28.5% |
| Recurring financial income | 75 | €2,082 | €1,488 | -€594 | -28.5% |
| Financial charges | 65/66B | €5,915 | €6,654 | +€739 | +12.5% |
| Recurring financial charges | 65 | €5,915 | €6,654 | +€739 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €33,084 | €33,659 | +€575 | +1.7% |
| Income taxes | 67/77 | €10,081 | €10,576 | +€495 | +4.9% |
| Profit (loss) for the period | 9904 | €23,004 | €23,083 | +€80 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,004 | €23,083 | +€80 | +0.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.