QUALITY RESEARCH: 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 RESEARCH
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward +€3,933
up €3,933 (+24.3%), from €16,193 to €20,125
- Other debts -€1,896
down €1,896 (-10.9%), from €17,407 to €15,512
- Accrued charges and deferred income -€1,786
down €1,786 (-100.0%), from €1,786 to €0
- Gross operating margin -€3,039
down €3,039 (-32.9%), from €9,239 to €6,200
- Financial income +€128
up €128 (+77.0%), from €167 to €295
- Other operating charges +€105
up €105 (+6.6%), from €1,583 to €1,688
- Financial charges -€100
down €100 (-12.5%), from €804 to €704
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 | €104,202 | €104,132 | -€70 | -0.1% |
| Fixed assets | 21/28 | €14,382 | €14,382 | = | 0.0% |
| Tangible fixed assets | 22/27 | €14,382 | €14,382 | = | 0.0% |
| Land and buildings | 22 | €13,882 | €13,882 | = | 0.0% |
| Other tangible fixed assets | 26 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €89,820 | €89,750 | -€70 | -0.1% |
| Amounts receivable after more than one year | 29 | €270 | - | -€270 | |
| Trade receivables | 290 | €270 | - | -€270 | |
| Amounts receivable within one year | 40/41 | - | €142 | +€142 | |
| Trade receivables | 40 | - | €142 | +€142 | |
| Cash at bank and in hand | 54/58 | €87,469 | €87,449 | -€20 | 0.0% |
| Deferred charges and accrued income | 490/1 | €2,080 | €2,158 | +€78 | +3.7% |
| Total equity and liabilities | 10/49 | €104,202 | €104,132 | -€70 | -0.1% |
| Equity | 10/15 | €84,393 | €88,325 | +€3,933 | +4.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,193 | €20,125 | +€3,933 | +24.3% |
| Amounts payable | 17/49 | €19,809 | €15,806 | -€4,002 | -20.2% |
| Amounts payable within one year | 42/48 | €18,023 | €15,806 | -€2,216 | -12.3% |
| Trade debts | 44 | €278 | €18 | -€260 | -93.4% |
| Suppliers | 440/4 | €278 | €18 | -€260 | -93.4% |
| Taxes, remuneration and social security | 45 | €337 | €276 | -€61 | -18.0% |
| Taxes | 450/3 | €337 | €276 | -€61 | -18.0% |
| Other amounts payable | 47/48 | €17,407 | €15,512 | -€1,896 | -10.9% |
| Accrued charges and deferred income | 492/3 | €1,786 | €0 | -€1,786 | -100.0% |
| Other operating charges | 640/8 | €1,583 | €1,688 | +€105 | +6.6% |
| Gross operating margin | 9900 | €9,239 | €6,200 | -€3,039 | -32.9% |
| Operating profit (loss) | 9901 | €7,655 | €4,512 | -€3,144 | -41.1% |
| Financial income | 75/76B | €167 | €295 | +€128 | +77.0% |
| Recurring financial income | 75 | €167 | €295 | +€128 | +77.0% |
| Financial charges | 65/66B | €804 | €704 | -€100 | -12.5% |
| Recurring financial charges | 65 | €804 | €704 | -€100 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €7,018 | €4,103 | -€2,915 | -41.5% |
| Income taxes | 67/77 | €171 | €170 | -€1 | -0.7% |
| Profit (loss) for the period | 9904 | €6,847 | €3,933 | -€2,914 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,847 | €3,933 | -€2,914 | -42.6% |
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 4 October 2026 via checked.be.