QUALTEK: 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.
QUALTEK
Largest movements
- Cash -€706,587
down €706,587 (-49.4%), from €1.4m to €724,803
mainly Trade debts (-€397,364) and Tax, wage and social debts (-€255,113)
- Current investments -€198,744
down €198,744 (-97.9%), from €202,931 to €4,187
- Tangible fixed assets +€192,722
up €192,722 (+72.7%), from €264,915 to €457,637
of which Land and buildings: +€199,100
- Receivables within one year +€102,089
up €102,089 (+11.1%), from €918,659 to €1.0m
of which Trade receivables: +€306,395
- Trade debts -€397,364
down €397,364 (-32.7%), from €1.2m to €817,619
- Tax, wage and social debts -€255,113
down €255,113 (-93.5%), from €272,755 to €17,641
- Profit (loss) carried forward +€45,298
up €45,298 (+15.8%), from €287,317 to €332,615
- Gross operating margin +€217,365
up €217,365, from -€107,962 to €109,403
- Taxes +€24,708
up €24,708 (+471.5%), from €5,240 to €29,948
- Depreciation +€16,357
up €16,357 (+70.9%), from €23,077 to €39,434
- Financial income -€4,554
down €4,554 (-41.8%), from €10,888 to €6,334
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 | €2,817,895 | €2,207,376 | -€610,519 | -21.7% |
| Fixed assets | 21/28 | €264,915 | €457,637 | +€192,722 | +72.7% |
| Tangible fixed assets | 22/27 | €264,915 | €457,637 | +€192,722 | +72.7% |
| Land and buildings | 22 | €250,500 | €449,600 | +€199,100 | +79.5% |
| Furniture and vehicles | 24 | €14,415 | €8,037 | -€6,377 | -44.2% |
| Current assets | 29/58 | €2,552,980 | €1,749,739 | -€803,241 | -31.5% |
| Amounts receivable within one year | 40/41 | €918,659 | €1,020,748 | +€102,089 | +11.1% |
| Trade receivables | 40 | €74,661 | €381,056 | +€306,395 | +410.4% |
| Other amounts receivable | 41 | €843,998 | €639,692 | -€204,306 | -24.2% |
| Current investments | 50/53 | €202,931 | €4,187 | -€198,744 | -97.9% |
| Cash at bank and in hand | 54/58 | €1,431,390 | €724,803 | -€706,587 | -49.4% |
| Total equity and liabilities | 10/49 | €2,817,895 | €2,207,376 | -€610,519 | -21.7% |
| Equity | 10/15 | €369,377 | €414,675 | +€45,298 | +12.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Outside capital | 11 | €8,060 | - | -€8,060 | |
| Other | 1109/19 | €8,060 | - | -€8,060 | |
| Reserves | 13 | €74,000 | €74,000 | = | 0.0% |
| Distributable reserves | 133 | €74,000 | €74,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,317 | €332,615 | +€45,298 | +15.8% |
| Amounts payable | 17/49 | €2,448,518 | €1,792,701 | -€655,817 | -26.8% |
| Amounts payable within one year | 42/48 | €2,448,518 | €1,792,701 | -€655,817 | -26.8% |
| Trade debts | 44 | €1,214,983 | €817,619 | -€397,364 | -32.7% |
| Suppliers | 440/4 | €1,214,983 | €817,619 | -€397,364 | -32.7% |
| Advances received on contracts in progress | 46 | €229,500 | €229,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €272,755 | €17,641 | -€255,113 | -93.5% |
| Taxes | 450/3 | €272,755 | €17,641 | -€255,113 | -93.5% |
| Other amounts payable | 47/48 | €731,280 | €727,940 | -€3,340 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,077 | €39,434 | +€16,357 | +70.9% |
| Other operating charges | 640/8 | €285 | €590 | +€305 | +106.8% |
| Gross operating margin | 9900 | -€107,962 | €109,403 | +€217,365 | |
| Operating profit (loss) | 9901 | -€131,325 | €69,379 | +€200,704 | |
| Financial income | 75/76B | €10,888 | €6,334 | -€4,554 | -41.8% |
| Recurring financial income | 75 | €10,888 | €6,334 | -€4,554 | -41.8% |
| Financial charges | 65/66B | €272 | €466 | +€195 | +71.6% |
| Recurring financial charges | 65 | €272 | €466 | +€195 | +71.6% |
| Profit (loss) for the period before taxes | 9903 | -€120,709 | €75,246 | +€195,955 | |
| Income taxes | 67/77 | €5,240 | €29,948 | +€24,708 | +471.5% |
| Profit (loss) for the period | 9904 | -€125,949 | €45,298 | +€171,247 | |
| Profit (loss) for the period to be appropriated | 9905 | -€125,949 | €45,298 | +€171,247 |
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 5 October 2026 via checked.be.