Quantum Security: 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.
Quantum Security
Largest movements
- Current investments +€38,595
up €38,595 (+57.5%), from €67,129 to €105,725
- Cash -€21,626
down €21,626 (-10.4%), from €207,758 to €186,132
mainly Current investments (-€38,595) and Contributions, distributions and other (-€30,600)
- Receivables within one year +€19,411
up €19,411 (+42.6%), from €45,587 to €64,998
of which Trade receivables: +€23,840
- Intangible fixed assets +€13,101
new in 2025: €13,101
- Tangible fixed assets -€11,415
down €11,415 (-26.3%), from €43,346 to €31,931
of which Furniture and vehicles: -€9,255
- Other debts +€21,983
up €21,983 (+115%), from €19,095 to €41,078
- Reserves +€16,718
up €16,718 (+5.2%), from €320,184 to €336,902
of which Distributable reserves: +€16,718
- Trade debts +€7,048
up €7,048 (+120%), from €5,849 to €12,896
- Staff costs +€40,140
up €40,140 (+38.5%), from €104,340 to €144,480
- Gross operating margin -€23,309
down €23,309 (-9.2%), from €252,503 to €229,194
- Taxes -€15,375
down €15,375 (-54.1%), from €28,441 to €13,066
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,570 | €446,110 | +€43,540 | +10.8% |
| Fixed assets | 21/28 | €43,346 | €45,032 | +€1,686 | +3.9% |
| Intangible fixed assets | 21 | - | €13,101 | +€13,101 | |
| Tangible fixed assets | 22/27 | €43,346 | €31,931 | -€11,415 | -26.3% |
| Land and buildings | 22 | €10,014 | €10,197 | +€183 | +1.8% |
| Plant, machinery and equipment | 23 | €3,416 | €1,072 | -€2,344 | -68.6% |
| Furniture and vehicles | 24 | €29,916 | €20,661 | -€9,255 | -30.9% |
| Current assets | 29/58 | €359,224 | €401,078 | +€41,854 | +11.7% |
| Stocks and contracts in progress | 3 | €30,623 | €35,417 | +€4,794 | +15.7% |
| Stocks | 30/36 | €30,623 | €35,417 | +€4,794 | +15.7% |
| Amounts receivable within one year | 40/41 | €45,587 | €64,998 | +€19,411 | +42.6% |
| Trade receivables | 40 | €26,040 | €49,880 | +€23,840 | +91.6% |
| Other amounts receivable | 41 | €19,548 | €15,118 | -€4,429 | -22.7% |
| Current investments | 50/53 | €67,129 | €105,725 | +€38,595 | +57.5% |
| Cash at bank and in hand | 54/58 | €207,758 | €186,132 | -€21,626 | -10.4% |
| Deferred charges and accrued income | 490/1 | €8,126 | €8,806 | +€680 | +8.4% |
| Total equity and liabilities | 10/49 | €402,570 | €446,110 | +€43,540 | +10.8% |
| Equity | 10/15 | €338,784 | €355,502 | +€16,718 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €320,184 | €336,902 | +€16,718 | +5.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €318,324 | €335,042 | +€16,718 | +5.3% |
| Amounts payable | 17/49 | €63,786 | €90,608 | +€26,822 | +42.1% |
| Amounts payable within one year | 42/48 | €36,920 | €65,096 | +€28,175 | +76.3% |
| Trade debts | 44 | €5,849 | €12,896 | +€7,048 | +120% |
| Suppliers | 440/4 | €5,849 | €12,896 | +€7,048 | +120% |
| Taxes, remuneration and social security | 45 | €11,977 | €11,121 | -€856 | -7.1% |
| Taxes | 450/3 | €1,390 | €1,199 | -€191 | -13.7% |
| Remuneration and social security | 454/9 | €10,587 | €9,922 | -€665 | -6.3% |
| Other amounts payable | 47/48 | €19,095 | €41,078 | +€21,983 | +115% |
| Accrued charges and deferred income | 492/3 | €26,865 | €25,512 | -€1,353 | -5.0% |
| Non-recurring operating income | 76A | - | €2,806 | +€2,806 | |
| Remuneration, social security and pensions | 62 | €104,340 | €144,480 | +€40,140 | +38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,580 | €19,200 | +€1,619 | +9.2% |
| Other operating charges | 640/8 | €2,368 | €1,804 | -€564 | -23.8% |
| Non-recurring operating charges | 66A | €773 | €2,302 | +€1,529 | +198% |
| Gross operating margin | 9900 | €252,503 | €229,194 | -€23,309 | -9.2% |
| Operating profit (loss) | 9901 | €127,442 | €61,408 | -€66,033 | -51.8% |
| Financial income | 75/76B | €264 | €76 | -€188 | -71.3% |
| Recurring financial income | 75 | €264 | €76 | -€188 | -71.3% |
| Financial charges | 65/66B | €1,885 | €1,100 | -€785 | -41.6% |
| Recurring financial charges | 65 | €1,885 | €1,100 | -€785 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €125,820 | €60,384 | -€65,436 | -52.0% |
| Income taxes | 67/77 | €28,441 | €13,066 | -€15,375 | -54.1% |
| Profit (loss) for the period | 9904 | €97,379 | €47,318 | -€50,061 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €97,379 | €47,318 | -€50,061 | -51.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.