QUALITY RENOVATIE: what changed
QUALITY RENOVATIE
Largest movements
- Receivables within one year +€44,641
up €44,641 (+135%), from €33,098 to €77,740
of which Trade receivables: +€25,864
- Cash -€35,095
down €35,095 (-17.4%), from €201,991 to €166,895
mainly Investment in fixed assets (net) (-€50,511) and Receivables within one year (-€44,641)
- Deferred charges and accrued income -€11,527
down €11,527 (-41.1%), from €28,070 to €16,543
- Tangible fixed assets +€7,922
up €7,922 (+6.4%), from €124,049 to €131,971
of which Furniture and vehicles: +€16,678
- Debts after one year -€8,247
down €8,247 (-65.9%), from €12,512 to €4,265
- Tax, wage and social debts +€6,542
up €6,542 (+888%), from €737 to €7,279
of which Remuneration and social security: +€4,501
- Gross operating margin -€158,701
down €158,701 (-58.8%), from €270,033 to €111,332
- Taxes -€32,527
down €32,527, from €30,395 to -€2,133
- Staff costs -€20,916
down €20,916 (-27.4%), from €76,301 to €55,385
- Depreciation +€4,267
up €4,267 (+11.1%), from €38,322 to €42,589
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 | €390,193 | €396,134 | +€5,941 | +1.5% |
| Fixed assets | 21/28 | €127,034 | €134,956 | +€7,922 | +6.2% |
| Tangible fixed assets | 22/27 | €124,049 | €131,971 | +€7,922 | +6.4% |
| Plant, machinery and equipment | 23 | €23,176 | €14,907 | -€8,269 | -35.7% |
| Furniture and vehicles | 24 | €99,523 | €116,201 | +€16,678 | +16.8% |
| Other tangible fixed assets | 26 | €1,350 | €862 | -€487 | -36.1% |
| Financial fixed assets | 28 | €2,985 | €2,985 | = | 0.0% |
| Current assets | 29/58 | €263,159 | €261,178 | -€1,981 | -0.8% |
| Amounts receivable within one year | 40/41 | €33,098 | €77,740 | +€44,641 | +135% |
| Trade receivables | 40 | €32,386 | €58,251 | +€25,864 | +79.9% |
| Other amounts receivable | 41 | €712 | €19,489 | +€18,777 | +2,638% |
| Cash at bank and in hand | 54/58 | €201,991 | €166,895 | -€35,095 | -17.4% |
| Deferred charges and accrued income | 490/1 | €28,070 | €16,543 | -€11,527 | -41.1% |
| Total equity and liabilities | 10/49 | €390,193 | €396,134 | +€5,941 | +1.5% |
| Equity | 10/15 | €368,007 | €371,939 | +€3,932 | +1.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €363,007 | €366,939 | +€3,932 | +1.1% |
| Distributable reserves | 133 | €363,007 | €366,939 | +€3,932 | +1.1% |
| Amounts payable | 17/49 | €22,186 | €24,195 | +€2,009 | +9.1% |
| Amounts payable after more than one year | 17 | €12,512 | €4,265 | -€8,247 | -65.9% |
| Financial debts | 170/4 | €12,512 | €4,265 | -€8,247 | -65.9% |
| Amounts payable within one year | 42/48 | €9,674 | €19,930 | +€10,256 | +106% |
| Current portion of amounts payable after more than one year | 42 | €7,882 | €8,247 | +€365 | +4.6% |
| Trade debts | 44 | €1,055 | €0 | -€1,055 | -100% |
| Suppliers | 440/4 | €1,055 | €0 | -€1,055 | -100% |
| Advances received on contracts in progress | 46 | - | €3,169 | +€3,169 | |
| Taxes, remuneration and social security | 45 | €737 | €7,279 | +€6,542 | +888% |
| Taxes | 450/3 | €737 | €2,778 | +€2,041 | +277% |
| Remuneration and social security | 454/9 | - | €4,501 | +€4,501 | |
| Other amounts payable | 47/48 | - | €1,234 | +€1,234 | |
| Remuneration, social security and pensions | 62 | €76,301 | €55,385 | -€20,916 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,322 | €42,589 | +€4,267 | +11.1% |
| Other operating charges | 640/8 | €2,536 | €3,691 | +€1,154 | +45.5% |
| Non-recurring operating charges | 66A | - | €6,136 | +€6,136 | |
| Gross operating margin | 9900 | €270,033 | €111,332 | -€158,701 | -58.8% |
| Operating profit (loss) | 9901 | €152,874 | €3,531 | -€149,343 | -97.7% |
| Financial income | 75/76B | €644 | €124 | -€520 | -80.8% |
| Recurring financial income | 75 | €644 | €124 | -€520 | -80.8% |
| Financial charges | 65/66B | €3,298 | €1,856 | -€1,442 | -43.7% |
| Recurring financial charges | 65 | €3,298 | €1,856 | -€1,442 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €150,220 | €1,799 | -€148,421 | -98.8% |
| Income taxes | 67/77 | €30,395 | -€2,133 | -€32,527 | |
| Profit (loss) for the period | 9904 | €119,825 | €3,932 | -€115,894 | -96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €119,825 | €3,932 | -€115,894 | -96.7% |
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 8 November 2026 via checked.be.