QUALIVET: 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.
QUALIVET
Largest movements
- Current investments -€315,595
down €315,595 (-26.2%), from €1.2m to €887,410
- Cash +€193,597
up €193,597 (+389.9%), from €49,658 to €243,255
mainly Current investments (+€315,595) and Net result for the year (+€146,745)
- Receivables within one year -€46,736
down €46,736 (-76.4%), from €61,189 to €14,454
of which Trade receivables: -€38,875
- Other debts -€338,771
down €338,771 (-89.2%), from €379,859 to €41,088
- Reserves +€146,745
up €146,745 (+17.0%), from €862,818 to €1.0m
of which Distributable reserves: +€146,745
- Tax, wage and social debts +€22,662
up €22,662 (+156.0%), from €14,527 to €37,189
- Financial charges -€118,542
down €118,542, from €72,304 to -€46,238
- Gross operating margin -€16,879
down €16,879 (-28.1%), from €60,125 to €43,247
- Taxes +€12,391
up €12,391 (+34.9%), from €35,487 to €47,878
- Financial income +€12,155
up €12,155 (+13.0%), from €93,590 to €105,744
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 | €1,313,852 | €1,145,119 | -€168,733 | -12.8% |
| Current assets | 29/58 | €1,313,852 | €1,145,119 | -€168,733 | -12.8% |
| Amounts receivable within one year | 40/41 | €61,189 | €14,454 | -€46,736 | -76.4% |
| Trade receivables | 40 | €48,261 | €9,386 | -€38,875 | -80.6% |
| Other amounts receivable | 41 | €12,928 | €5,068 | -€7,861 | -60.8% |
| Current investments | 50/53 | €1,203,004 | €887,410 | -€315,595 | -26.2% |
| Cash at bank and in hand | 54/58 | €49,658 | €243,255 | +€193,597 | +389.9% |
| Total equity and liabilities | 10/49 | €1,313,852 | €1,145,119 | -€168,733 | -12.8% |
| Equity | 10/15 | €918,618 | €1,065,364 | +€146,745 | +16.0% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €862,818 | €1,009,564 | +€146,745 | +17.0% |
| Non-distributable reserves | 130/1 | €5,580 | €5,580 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,580 | €5,580 | = | 0.0% |
| Distributable reserves | 133 | €857,238 | €1,003,984 | +€146,745 | +17.1% |
| Amounts payable | 17/49 | €395,234 | €79,755 | -€315,479 | -79.8% |
| Amounts payable within one year | 42/48 | €395,234 | €79,755 | -€315,479 | -79.8% |
| Trade debts | 44 | €847 | €1,477 | +€630 | +74.4% |
| Suppliers | 440/4 | €847 | €1,477 | +€630 | +74.4% |
| Taxes, remuneration and social security | 45 | €14,527 | €37,189 | +€22,662 | +156.0% |
| Taxes | 450/3 | €14,527 | €37,189 | +€22,662 | +156.0% |
| Other amounts payable | 47/48 | €379,859 | €41,088 | -€338,771 | -89.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €588 | €606 | +€18 | +3.0% |
| Gross operating margin | 9900 | €60,125 | €43,247 | -€16,879 | -28.1% |
| Operating profit (loss) | 9901 | €59,537 | €42,640 | -€16,896 | -28.4% |
| Financial income | 75/76B | €93,590 | €105,744 | +€12,155 | +13.0% |
| Recurring financial income | 75 | €93,590 | €105,744 | +€12,155 | +13.0% |
| Financial charges | 65/66B | €72,304 | -€46,238 | -€118,542 | |
| Recurring financial charges | 65 | €72,304 | -€46,238 | -€118,542 | |
| Profit (loss) for the period before taxes | 9903 | €80,822 | €194,623 | +€113,801 | +140.8% |
| Income taxes | 67/77 | €35,487 | €47,878 | +€12,391 | +34.9% |
| Profit (loss) for the period | 9904 | €45,336 | €146,745 | +€101,409 | +223.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,336 | €146,745 | +€101,409 | +223.7% |
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 2 October 2026 via checked.be.