Qualivino: 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.
What changed
Qualivino
NACE 46.349, Wholesale of beverages, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€12,108
2024 · -€6,547-€5,560
Equity
€643,696
2024 · €655,804-€12,108
Cash
€32,196
2024 · €27,030+€5,166
Balance sheet total
€1.7m
2024 · €1.6m+€158,180
Largest movements
Assets
- Stocks and contracts +€88,099
up €88,099 (+14.3%), from €614,708 to €702,807
- Tangible fixed assets +€25,303
up €25,303 (+5.2%), from €482,014 to €507,317
of which Furniture and vehicles: +€39,505
Equity and liabilities
- Debts after one year +€112,098
up €112,098 (+86.6%), from €129,420 to €241,518
- Advances received +€96,686
new in 2025: €96,686
- Other debts -€46,652
down €46,652 (-40.0%), from €116,717 to €70,065
- Current portion of long-term debt +€34,576
up €34,576 (+89.4%), from €38,655 to €73,231
- Short-term financial debts +€25,000
up €25,000 (+20.0%), from €125,000 to €150,000
Income statement
- Gross operating margin -€27,618
down €27,618 (-11.2%), from €246,688 to €219,069
- Staff costs -€15,688
down €15,688 (-11.1%), from €141,547 to €125,859
- Financial charges +€11,327
up €11,327 (+47.3%), from €23,950 to €35,278
- Depreciation -€10,523
down €10,523 (-14.4%), from €72,992 to €62,468
- Other operating charges -€5,923
down €5,923 (-36.6%), from €16,196 to €10,273
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.
Result 2024
-€6,547
Gross operating margin
-€27,618
Staff costs
+€15,688
Depreciation
+€10,523
Other operating charges
+€5,923
Financial income
+€1,673
Financial charges
-€11,327
Taxes
-€2,040
Deferred taxes and other
+€1,617
Result 2025
-€12,108
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
-€59,227
Investment
-€107,281
Financing
+€171,674
Cash 2024
€27,030
From operations (derived)
-€59,227
Net result for the year
-€12,108
Depreciation
+€62,468
Stocks and contracts
-€88,099
Receivables within one year
-€13,256
Deferred charges and accrued income
-€6,846
Provisions
-€11,319
Trade debts
-€21,193
Tax, wage and social debts
-€18,909
Advances received
+€96,686
Other debts
-€46,652
Investment (derived)
-€107,281
Investment in fixed assets (net)
-€107,281
Financing
+€171,674
Debts after one year
+€112,098
Current portion of long-term debt
+€34,576
Short-term financial debts
+€25,000
Cash 2025
€32,196
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,557,595 | €1,715,774 | +€158,180 | +10.2% |
| Fixed assets | 21/28 | €482,626 | €527,438 | +€44,812 | +9.3% |
| Intangible fixed assets | 21 | - | €11,710 | +€11,710 | |
| Tangible fixed assets | 22/27 | €482,014 | €507,317 | +€25,303 | +5.2% |
| Land and buildings | 22 | €399,115 | €360,627 | -€38,488 | -9.6% |
| Plant, machinery and equipment | 23 | €60,107 | €84,392 | +€24,286 | +40.4% |
| Furniture and vehicles | 24 | €22,792 | €62,297 | +€39,505 | +173% |
| Financial fixed assets | 28 | €611 | €8,411 | +€7,800 | +1,276% |
| Current assets | 29/58 | €1,074,969 | €1,188,336 | +€113,367 | +10.5% |
| Stocks and contracts in progress | 3 | €614,708 | €702,807 | +€88,099 | +14.3% |
| Stocks | 30/36 | €614,708 | €702,807 | +€88,099 | +14.3% |
| Amounts receivable within one year | 40/41 | €430,982 | €444,238 | +€13,256 | +3.1% |
| Trade receivables | 40 | €57,429 | €71,751 | +€14,322 | +24.9% |
| Other amounts receivable | 41 | €373,553 | €372,487 | -€1,066 | -0.3% |
| Cash at bank and in hand | 54/58 | €27,030 | €32,196 | +€5,166 | +19.1% |
| Deferred charges and accrued income | 490/1 | €2,249 | €9,094 | +€6,846 | +304% |
| Total equity and liabilities | 10/49 | €1,557,595 | €1,715,774 | +€158,180 | +10.2% |
| Equity | 10/15 | €655,804 | €643,696 | -€12,108 | -1.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €283,676 | €271,568 | -€12,108 | -4.3% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €254,568 | €220,574 | -€33,993 | -13.4% |
| Distributable reserves | 133 | €9,108 | €30,994 | +€21,886 | +240% |
| Profit (loss) carried forward | 14 | €172,128 | €172,128 | = | 0.0% |
| Provisions and deferred taxes | 16 | €84,628 | €73,309 | -€11,319 | -13.4% |
| Deferred taxes | 168 | €84,628 | €73,309 | -€11,319 | -13.4% |
| Amounts payable | 17/49 | €817,162 | €998,768 | +€181,606 | +22.2% |
| Amounts payable after more than one year | 17 | €129,420 | €241,518 | +€112,098 | +86.6% |
| Financial debts | 170/4 | €129,420 | €241,518 | +€112,098 | +86.6% |
| Amounts payable within one year | 42/48 | €687,742 | €757,250 | +€69,508 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €38,655 | €73,231 | +€34,576 | +89.4% |
| Financial debts | 43 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Credit institutions | 430/8 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Trade debts | 44 | €349,043 | €327,851 | -€21,193 | -6.1% |
| Suppliers | 440/4 | €349,043 | €327,851 | -€21,193 | -6.1% |
| Advances received on contracts in progress | 46 | - | €96,686 | +€96,686 | |
| Taxes, remuneration and social security | 45 | €58,327 | €39,418 | -€18,909 | -32.4% |
| Taxes | 450/3 | €36,263 | €17,883 | -€18,380 | -50.7% |
| Remuneration and social security | 454/9 | €22,063 | €21,535 | -€529 | -2.4% |
| Other amounts payable | 47/48 | €116,717 | €70,065 | -€46,652 | -40.0% |
| Non-recurring operating income | 76A | €1,441 | €12,262 | +€10,821 | +751% |
| Remuneration, social security and pensions | 62 | €141,547 | €125,859 | -€15,688 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,992 | €62,468 | -€10,523 | -14.4% |
| Other operating charges | 640/8 | €16,196 | €10,273 | -€5,923 | -36.6% |
| Gross operating margin | 9900 | €246,688 | €219,069 | -€27,618 | -11.2% |
| Operating profit (loss) | 9901 | €15,953 | €20,469 | +€4,516 | +28.3% |
| Financial income | 75/76B | €850 | €2,523 | +€1,673 | +197% |
| Recurring financial income | 75 | €850 | €2,523 | +€1,673 | +197% |
| Financial charges | 65/66B | €23,950 | €35,278 | +€11,327 | +47.3% |
| Recurring financial charges | 65 | €23,950 | €35,278 | +€11,327 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,148 | -€12,285 | -€5,138 | -71.9% |
| Transfer from deferred taxes | 780 | €9,702 | €11,319 | +€1,617 | +16.7% |
| Income taxes | 67/77 | €9,101 | €11,141 | +€2,040 | +22.4% |
| Profit (loss) for the period | 9904 | -€6,547 | -€12,108 | -€5,560 | -84.9% |
| Transfer from tax-exempt reserves | 789 | €29,137 | €33,993 | +€4,856 | +16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,590 | €21,886 | -€704 | -3.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.