QUALITYFREES: 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.
QUALITYFREES
Largest movements
- Receivables within one year -€350,966
down €350,966 (-65.7%), from €533,818 to €182,852
of which Trade receivables: -€352,616
- Tangible fixed assets -€95,053
down €95,053 (-24.2%), from €392,803 to €297,749
of which Leasing and similar rights: -€73,920
- Cash +€31,141
up €31,141 (+74.9%), from €41,581 to €72,722
mainly Receivables within one year (+€350,966) and Depreciation (+€95,053)
- Trade debts -€339,313
down €339,313 (-78.6%), from €431,464 to €92,152
- Debts after one year -€79,778
down €79,778 (-28.7%), from €277,769 to €197,992
- Other debts +€53,516
up €53,516, from €0 to €53,516
- Reserves -€46,577
down €46,577 (-30.4%), from €153,337 to €106,760
of which Distributable reserves: -€46,577
- Current portion of long-term debt +€13,453
up €13,453 (+17.6%), from €76,420 to €89,873
- Depreciation +€53,950
up €53,950 (+131.3%), from €41,103 to €95,053
- Gross operating margin -€16,064
down €16,064 (-7.1%), from €227,804 to €211,740
- Financial income +€12,748
up €12,748 (+147884.0%), from €9 to €12,756
- Taxes -€9,010
down €9,010 (-23.2%), from €38,870 to €29,860
- Financial charges +€8,726
up €8,726 (+126.7%), from €6,890 to €15,616
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 | €968,202 | €561,131 | -€407,071 | -42.0% |
| Fixed assets | 21/28 | €392,803 | €297,749 | -€95,053 | -24.2% |
| Tangible fixed assets | 22/27 | €392,803 | €297,749 | -€95,053 | -24.2% |
| Plant, machinery and equipment | 23 | €30,413 | €17,054 | -€13,359 | -43.9% |
| Furniture and vehicles | 24 | €16,824 | €9,049 | -€7,775 | -46.2% |
| Leasing and similar rights | 25 | €345,566 | €271,646 | -€73,920 | -21.4% |
| Current assets | 29/58 | €575,399 | €263,381 | -€312,018 | -54.2% |
| Amounts receivable within one year | 40/41 | €533,818 | €182,852 | -€350,966 | -65.7% |
| Trade receivables | 40 | €527,879 | €175,262 | -€352,616 | -66.8% |
| Other amounts receivable | 41 | €5,939 | €7,590 | +€1,651 | +27.8% |
| Cash at bank and in hand | 54/58 | €41,581 | €72,722 | +€31,141 | +74.9% |
| Deferred charges and accrued income | 490/1 | €0 | €7,807 | +€7,807 | |
| Total equity and liabilities | 10/49 | €968,202 | €561,131 | -€407,071 | -42.0% |
| Equity | 10/15 | €171,937 | €125,360 | -€46,577 | -27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,337 | €106,760 | -€46,577 | -30.4% |
| Tax-exempt reserves | 132 | €12,582 | €12,582 | = | 0.0% |
| Distributable reserves | 133 | €140,755 | €94,178 | -€46,577 | -33.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €796,264 | €435,770 | -€360,494 | -45.3% |
| Amounts payable after more than one year | 17 | €277,769 | €197,992 | -€79,778 | -28.7% |
| Financial debts | 170/4 | €277,769 | €197,992 | -€79,778 | -28.7% |
| Amounts payable within one year | 42/48 | €507,973 | €237,779 | -€270,195 | -53.2% |
| Current portion of amounts payable after more than one year | 42 | €76,420 | €89,873 | +€13,453 | +17.6% |
| Trade debts | 44 | €431,464 | €92,152 | -€339,313 | -78.6% |
| Suppliers | 440/4 | €431,464 | €92,152 | -€339,313 | -78.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €89 | €2,238 | +€2,149 | +2423.6% |
| Taxes | 450/3 | €89 | €2,238 | +€2,149 | +2423.6% |
| Other amounts payable | 47/48 | €0 | €53,516 | +€53,516 | |
| Accrued charges and deferred income | 492/3 | €10,522 | €0 | -€10,522 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,103 | €95,053 | +€53,950 | +131.3% |
| Other operating charges | 640/8 | €807 | €544 | -€263 | -32.6% |
| Gross operating margin | 9900 | €227,804 | €211,740 | -€16,064 | -7.1% |
| Operating profit (loss) | 9901 | €185,893 | €116,142 | -€69,751 | -37.5% |
| Financial income | 75/76B | €9 | €12,756 | +€12,748 | +147884.0% |
| Recurring financial income | 75 | €9 | €12,756 | +€12,748 | +147884.0% |
| Financial charges | 65/66B | €6,890 | €15,616 | +€8,726 | +126.7% |
| Recurring financial charges | 65 | €6,890 | €15,616 | +€8,726 | +126.7% |
| Profit (loss) for the period before taxes | 9903 | €179,012 | €113,283 | -€65,730 | -36.7% |
| Income taxes | 67/77 | €38,870 | €29,860 | -€9,010 | -23.2% |
| Profit (loss) for the period | 9904 | €140,143 | €83,423 | -€56,720 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €140,143 | €83,423 | -€56,720 | -40.5% |
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 6 October 2026 via checked.be.