QUE: 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.
QUE
Largest movements
- Tangible fixed assets -€43,789
down €43,789 (-16.5%), from €266,075 to €222,286
of which Land and buildings: -€49,596
- Receivables within one year +€35,841
up €35,841 (+830.5%), from €4,316 to €40,157
of which Trade receivables: +€25,058
- Cash +€20,705
up €20,705 (+62.3%), from €33,232 to €53,936
mainly Depreciation (+€54,251) and Net result for the year (+€28,907)
- Other debts +€24,262
up €24,262 (+3194.1%), from €760 to €25,022
- Reserves -€23,133
down €23,133 (-21.8%), from €105,939 to €82,806
of which Tax-exempt reserves: -€14,615
- Profit (loss) carried forward +€15,957
up €15,957, from -€15,957 to €0
- Tax, wage and social debts +€8,834
up €8,834 (+198.2%), from €4,458 to €13,293
- Debts after one year -€5,933
down €5,933 (-100.0%), from €5,933 to €0
- Gross operating margin +€60,142
up €60,142 (+342.2%), from €17,573 to €77,714
- Taxes +€1,753
up €1,753 (+288.4%), from €608 to €2,361
- Depreciation +€1,264
up €1,264 (+2.4%), from €52,987 to €54,251
- Other operating charges +€814
up €814 (+15.5%), from €5,248 to €6,061
- Financial charges -€810
down €810 (-40.0%), from €2,028 to €1,217
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 | €303,833 | €316,379 | +€12,546 | +4.1% |
| Fixed assets | 21/28 | €266,075 | €222,286 | -€43,789 | -16.5% |
| Tangible fixed assets | 22/27 | €266,075 | €222,286 | -€43,789 | -16.5% |
| Land and buildings | 22 | €253,752 | €204,155 | -€49,596 | -19.5% |
| Plant, machinery and equipment | 23 | €9,712 | €13,824 | +€4,111 | +42.3% |
| Furniture and vehicles | 24 | €2,611 | €1,432 | -€1,179 | -45.2% |
| Other tangible fixed assets | 26 | - | €2,875 | +€2,875 | |
| Current assets | 29/58 | €37,758 | €94,093 | +€56,335 | +149.2% |
| Amounts receivable within one year | 40/41 | €4,316 | €40,157 | +€35,841 | +830.5% |
| Trade receivables | 40 | €3,110 | €28,168 | +€25,058 | +805.7% |
| Other amounts receivable | 41 | €1,206 | €11,989 | +€10,784 | +894.3% |
| Cash at bank and in hand | 54/58 | €33,232 | €53,936 | +€20,705 | +62.3% |
| Deferred charges and accrued income | 490/1 | €211 | €0 | -€211 | -100.0% |
| Total equity and liabilities | 10/49 | €303,833 | €316,379 | +€12,546 | +4.1% |
| Equity | 10/15 | €264,981 | €257,806 | -€7,175 | -2.7% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €105,939 | €82,806 | -€23,133 | -21.8% |
| Tax-exempt reserves | 132 | €53,785 | €39,170 | -€14,615 | -27.2% |
| Distributable reserves | 133 | €52,154 | €43,636 | -€8,518 | -16.3% |
| Profit (loss) carried forward | 14 | -€15,957 | €0 | +€15,957 | |
| Provisions and deferred taxes | 16 | €17,928 | €13,057 | -€4,872 | -27.2% |
| Deferred taxes | 168 | €17,928 | €13,057 | -€4,872 | -27.2% |
| Amounts payable | 17/49 | €20,924 | €45,516 | +€24,592 | +117.5% |
| Amounts payable after more than one year | 17 | €5,933 | €0 | -€5,933 | -100.0% |
| Financial debts | 170/4 | €5,933 | €0 | -€5,933 | -100.0% |
| Amounts payable within one year | 42/48 | €14,603 | €45,516 | +€30,912 | +211.7% |
| Current portion of amounts payable after more than one year | 42 | €6,171 | €5,933 | -€238 | -3.9% |
| Trade debts | 44 | €1,182 | €1,269 | +€87 | +7.4% |
| Suppliers | 440/4 | €1,182 | €1,269 | +€87 | +7.4% |
| Advances received on contracts in progress | 46 | €2,033 | €0 | -€2,033 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,458 | €13,293 | +€8,834 | +198.2% |
| Taxes | 450/3 | €4,458 | €13,293 | +€8,834 | +198.2% |
| Other amounts payable | 47/48 | €760 | €25,022 | +€24,262 | +3194.1% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Remuneration, social security and pensions | 62 | €5 | €0 | -€5 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,987 | €54,251 | +€1,264 | +2.4% |
| Other operating charges | 640/8 | €5,248 | €6,061 | +€814 | +15.5% |
| Gross operating margin | 9900 | €17,573 | €77,714 | +€60,142 | +342.2% |
| Operating profit (loss) | 9901 | -€40,667 | €17,402 | +€58,069 | |
| Financial income | 75/76B | €2 | €468 | +€467 | +26980.3% |
| Recurring financial income | 75 | €2 | €468 | +€467 | +26980.3% |
| Financial charges | 65/66B | €2,028 | €1,217 | -€810 | -40.0% |
| Recurring financial charges | 65 | €2,028 | €1,217 | -€810 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | -€42,693 | €16,653 | +€59,346 | |
| Transfer from deferred taxes | 780 | €4,875 | €14,615 | +€9,740 | +199.8% |
| Income taxes | 67/77 | €608 | €2,361 | +€1,753 | +288.4% |
| Profit (loss) for the period | 9904 | -€38,426 | €28,907 | +€67,333 | |
| Transfer from tax-exempt reserves | 789 | €14,626 | €4,872 | -€9,754 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,800 | €33,778 | +€57,579 |
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 3 October 2026 via checked.be.