Quality Rose: 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 Rose
Largest movements
- Tangible fixed assets -€27,503
down €27,503 (-31.0%), from €88,724 to €61,221
of which Furniture and vehicles: -€17,083
- Receivables after one year -€19,489
down €19,489 (-83.0%), from €23,489 to €4,000
- Cash -€15,336
down €15,336 (-13.9%), from €110,480 to €95,144
mainly Trade debts (-€125,458) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€11,282
up €11,282 (+1.8%), from €613,167 to €624,449
of which Trade receivables: +€46,465
- Trade debts -€125,458
down €125,458 (-25.5%), from €491,550 to €366,092
- Reserves +€36,929
up €36,929 (+15.0%), from €245,696 to €282,625
- Other debts +€34,233
up €34,233 (+51.5%), from €66,430 to €100,663
- Gross operating margin +€43,955
up €43,955 (+27.9%), from €157,530 to €201,485
- Staff costs -€6,698
down €6,698 (-24.9%), from €26,914 to €20,216
- Taxes +€4,491
up €4,491 (+57.2%), from €7,849 to €12,340
- Depreciation -€3,899
down €3,899 (-11.2%), from €34,703 to €30,804
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 | €857,151 | €803,731 | -€53,420 | -6.2% |
| Fixed assets | 21/28 | €88,724 | €61,221 | -€27,503 | -31.0% |
| Tangible fixed assets | 22/27 | €88,724 | €61,221 | -€27,503 | -31.0% |
| Plant, machinery and equipment | 23 | €27,418 | €16,998 | -€10,419 | -38.0% |
| Furniture and vehicles | 24 | €61,306 | €44,223 | -€17,083 | -27.9% |
| Current assets | 29/58 | €768,427 | €742,509 | -€25,918 | -3.4% |
| Amounts receivable after more than one year | 29 | €23,489 | €4,000 | -€19,489 | -83.0% |
| Other amounts receivable | 291 | €23,489 | €4,000 | -€19,489 | -83.0% |
| Stocks and contracts in progress | 3 | €12,950 | €13,778 | +€827 | +6.4% |
| Stocks | 30/36 | €12,950 | €13,778 | +€827 | +6.4% |
| Amounts receivable within one year | 40/41 | €613,167 | €624,449 | +€11,282 | +1.8% |
| Trade receivables | 40 | €550,562 | €597,028 | +€46,465 | +8.4% |
| Other amounts receivable | 41 | €62,604 | €27,421 | -€35,184 | -56.2% |
| Cash at bank and in hand | 54/58 | €110,480 | €95,144 | -€15,336 | -13.9% |
| Deferred charges and accrued income | 490/1 | €8,341 | €5,139 | -€3,202 | -38.4% |
| Total equity and liabilities | 10/49 | €857,151 | €803,731 | -€53,420 | -6.2% |
| Equity | 10/15 | €295,696 | €332,625 | +€36,929 | +12.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €245,696 | €282,625 | +€36,929 | +15.0% |
| Distributable reserves | 133 | €245,696 | €282,625 | +€36,929 | +15.0% |
| Amounts payable | 17/49 | €561,455 | €471,106 | -€90,349 | -16.1% |
| Amounts payable after more than one year | 17 | - | €511 | +€511 | |
| Other amounts payable | 178/9 | - | €511 | +€511 | |
| Amounts payable within one year | 42/48 | €559,855 | €470,595 | -€89,260 | -15.9% |
| Trade debts | 44 | €491,550 | €366,092 | -€125,458 | -25.5% |
| Suppliers | 440/4 | €491,550 | €366,092 | -€125,458 | -25.5% |
| Taxes, remuneration and social security | 45 | €1,875 | €3,840 | +€1,965 | +104.8% |
| Taxes | 450/3 | €1,449 | €3,489 | +€2,040 | +140.7% |
| Remuneration and social security | 454/9 | €425 | €351 | -€75 | -17.6% |
| Other amounts payable | 47/48 | €66,430 | €100,663 | +€34,233 | +51.5% |
| Accrued charges and deferred income | 492/3 | €1,600 | - | -€1,600 | |
| Remuneration, social security and pensions | 62 | €26,914 | €20,216 | -€6,698 | -24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,703 | €30,804 | -€3,899 | -11.2% |
| Other operating charges | 640/8 | €1,060 | €1,147 | +€87 | +8.2% |
| Gross operating margin | 9900 | €157,530 | €201,485 | +€43,955 | +27.9% |
| Operating profit (loss) | 9901 | €94,853 | €149,318 | +€54,465 | +57.4% |
| Financial income | 75/76B | €537 | - | -€537 | |
| Recurring financial income | 75 | €537 | - | -€537 | |
| Financial charges | 65/66B | €74 | €50 | -€25 | -33.1% |
| Recurring financial charges | 65 | €74 | €50 | -€25 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €95,316 | €149,268 | +€53,953 | +56.6% |
| Income taxes | 67/77 | €7,849 | €12,340 | +€4,491 | +57.2% |
| Profit (loss) for the period | 9904 | €87,467 | €136,929 | +€49,462 | +56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,467 | €136,929 | +€49,462 | +56.5% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.