QUE SERA SERA: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
QUE SERA SERA
Largest movements
- Receivables within one year -€35,020
down €35,020 (-29.2%), from €119,777 to €84,757
of which Trade receivables: -€35,538
- Tangible fixed assets -€9,847
down €9,847 (-21.9%), from €44,986 to €35,139
of which Other tangible fixed assets: -€7,842
- Other debts -€26,673
no longer reported in 2025 (was €26,673)
- Tax, wage and social debts -€19,463
down €19,463 (-46.2%), from €42,097 to €22,634
- Trade debts -€19,378
down €19,378 (-59.4%), from €32,602 to €13,224
- Reserves +€17,376
up €17,376 (+13.0%), from €133,693 to €151,069
of which Distributable reserves: +€22,041
- Short-term financial debts +€3,556
up €3,556 (+227%), from €1,569 to €5,125
- Write-downs +€25,200
new in 2025: €25,200
- Gross operating margin +€8,539
up €8,539 (+13.0%), from €65,656 to €74,195
- Financial income +€2,044
up €2,044 (+89.4%), from €2,286 to €4,330
- Depreciation -€1,828
down €1,828 (-15.7%), from €11,675 to €9,847
- Other operating charges +€1,714
up €1,714 (+24.7%), from €6,929 to €8,643
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,702 | €195,460 | -€45,242 | -18.8% |
| Fixed assets | 21/28 | €44,986 | €35,139 | -€9,847 | -21.9% |
| Tangible fixed assets | 22/27 | €44,986 | €35,139 | -€9,847 | -21.9% |
| Plant, machinery and equipment | 23 | €5,447 | €3,442 | -€2,005 | -36.8% |
| Furniture and vehicles | 24 | €4,578 | €4,578 | = | 0.0% |
| Other tangible fixed assets | 26 | €34,961 | €27,119 | -€7,842 | -22.4% |
| Current assets | 29/58 | €195,716 | €160,322 | -€35,395 | -18.1% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €119,777 | €84,757 | -€35,020 | -29.2% |
| Trade receivables | 40 | €54,301 | €18,763 | -€35,538 | -65.4% |
| Other amounts receivable | 41 | €65,476 | €65,994 | +€518 | +0.8% |
| Cash at bank and in hand | 54/58 | - | €259 | +€259 | |
| Deferred charges and accrued income | 490/1 | €939 | €306 | -€633 | -67.4% |
| Total equity and liabilities | 10/49 | €240,702 | €195,460 | -€45,242 | -18.8% |
| Equity | 10/15 | €133,793 | €151,169 | +€17,376 | +13.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €133,693 | €151,069 | +€17,376 | +13.0% |
| Tax-exempt reserves | 132 | €15,872 | €11,206 | -€4,666 | -29.4% |
| Distributable reserves | 133 | €117,821 | €139,863 | +€22,041 | +18.7% |
| Provisions and deferred taxes | 16 | €3,968 | €2,802 | -€1,166 | -29.4% |
| Deferred taxes | 168 | €3,968 | €2,802 | -€1,166 | -29.4% |
| Amounts payable | 17/49 | €102,941 | €41,489 | -€61,451 | -59.7% |
| Amounts payable within one year | 42/48 | €102,941 | €40,984 | -€61,957 | -60.2% |
| Financial debts | 43 | €1,569 | €5,125 | +€3,556 | +227% |
| Credit institutions | 430/8 | €1,569 | €5,125 | +€3,556 | +227% |
| Trade debts | 44 | €32,602 | €13,224 | -€19,378 | -59.4% |
| Suppliers | 440/4 | €32,602 | €13,224 | -€19,378 | -59.4% |
| Taxes, remuneration and social security | 45 | €42,097 | €22,634 | -€19,463 | -46.2% |
| Taxes | 450/3 | €42,097 | €22,634 | -€19,463 | -46.2% |
| Other amounts payable | 47/48 | €26,673 | - | -€26,673 | |
| Accrued charges and deferred income | 492/3 | - | €506 | +€506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,675 | €9,847 | -€1,828 | -15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,200 | +€25,200 | |
| Other operating charges | 640/8 | €6,929 | €8,643 | +€1,714 | +24.7% |
| Gross operating margin | 9900 | €65,656 | €74,195 | +€8,539 | +13.0% |
| Operating profit (loss) | 9901 | €47,053 | €30,505 | -€16,548 | -35.2% |
| Financial income | 75/76B | €2,286 | €4,330 | +€2,044 | +89.4% |
| Recurring financial income | 75 | €2,286 | €4,330 | +€2,044 | +89.4% |
| Financial charges | 65/66B | €4,607 | €4,650 | +€42 | +0.9% |
| Recurring financial charges | 65 | €4,607 | €4,650 | +€42 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €44,731 | €30,185 | -€14,546 | -32.5% |
| Transfer from deferred taxes | 780 | €1,166 | €1,166 | = | 0.0% |
| Income taxes | 67/77 | €15,629 | €13,976 | -€1,653 | -10.6% |
| Profit (loss) for the period | 9904 | €30,269 | €17,376 | -€12,893 | -42.6% |
| Transfer from tax-exempt reserves | 789 | €4,666 | €4,666 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,934 | €22,041 | -€12,893 | -36.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.