QUEBO: 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.
QUEBO
Largest movements
- Stocks and contracts +€108,637
new in 2025: €108,637
- Tangible fixed assets +€34,574
up €34,574 (+111.9%), from €30,900 to €65,474
of which Furniture and vehicles: +€37,417
- Receivables within one year -€13,026
down €13,026 (-12.9%), from €100,951 to €87,925
of which Other amounts receivable: -€8,785
- Deferred charges and accrued income +€11,864
up €11,864 (+280.8%), from €4,225 to €16,089
- Cash +€4,181
up €4,181 (+10.7%), from €39,166 to €43,347
mainly Trade debts (+€83,771) and Debts after one year (+€33,150)
- Trade debts +€83,771
up €83,771 (+176.2%), from €47,532 to €131,303
- Debts after one year +€33,150
new in 2025: €33,150
- Reserves +€16,917
up €16,917 (+13.3%), from €127,203 to €144,120
- Current portion of long-term debt +€9,587
new in 2025: €9,587
- Tax, wage and social debts +€4,405
new in 2025: €4,405
- Gross operating margin -€32,155
down €32,155 (-39.0%), from €82,369 to €50,214
- Taxes -€8,281
down €8,281 (-46.8%), from €17,686 to €9,405
- Depreciation +€2,789
up €2,789 (+26.7%), from €10,450 to €13,238
- Other operating charges -€1,592
down €1,592 (-13.8%), from €11,568 to €9,977
- Financial charges -€1,369
down €1,369 (-46.5%), from €2,944 to €1,575
of which Financial charges: -€1,681
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 | €178,835 | €325,066 | +€146,231 | +81.8% |
| Fixed assets | 21/28 | €34,493 | €69,068 | +€34,574 | +100.2% |
| Tangible fixed assets | 22/27 | €30,900 | €65,474 | +€34,574 | +111.9% |
| Plant, machinery and equipment | 23 | €17,932 | €15,089 | -€2,843 | -15.9% |
| Furniture and vehicles | 24 | €12,967 | €50,384 | +€37,417 | +288.5% |
| Financial fixed assets | 28 | €3,594 | €3,594 | = | 0.0% |
| Current assets | 29/58 | €144,341 | €255,998 | +€111,657 | +77.4% |
| Stocks and contracts in progress | 3 | - | €108,637 | +€108,637 | |
| Stocks | 30/36 | - | €108,637 | +€108,637 | |
| Amounts receivable within one year | 40/41 | €100,951 | €87,925 | -€13,026 | -12.9% |
| Trade receivables | 40 | €68,100 | €63,859 | -€4,240 | -6.2% |
| Other amounts receivable | 41 | €32,851 | €24,066 | -€8,785 | -26.7% |
| Cash at bank and in hand | 54/58 | €39,166 | €43,347 | +€4,181 | +10.7% |
| Deferred charges and accrued income | 490/1 | €4,225 | €16,089 | +€11,864 | +280.8% |
| Total equity and liabilities | 10/49 | €178,835 | €325,066 | +€146,231 | +81.8% |
| Equity | 10/15 | €129,703 | €146,620 | +€16,917 | +13.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €127,203 | €144,120 | +€16,917 | +13.3% |
| Distributable reserves | 133 | €127,203 | €144,120 | +€16,917 | +13.3% |
| Amounts payable | 17/49 | €49,132 | €178,446 | +€129,313 | +263.2% |
| Amounts payable after more than one year | 17 | - | €33,150 | +€33,150 | |
| Financial debts | 170/4 | - | €33,150 | +€33,150 | |
| Amounts payable within one year | 42/48 | €49,132 | €145,295 | +€96,163 | +195.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,587 | +€9,587 | |
| Trade debts | 44 | €47,532 | €131,303 | +€83,771 | +176.2% |
| Suppliers | 440/4 | €47,532 | €131,303 | +€83,771 | +176.2% |
| Taxes, remuneration and social security | 45 | - | €4,405 | +€4,405 | |
| Taxes | 450/3 | - | €4,405 | +€4,405 | |
| Other amounts payable | 47/48 | €1,600 | - | -€1,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,450 | €13,238 | +€2,789 | +26.7% |
| Other operating charges | 640/8 | €11,568 | €9,977 | -€1,592 | -13.8% |
| Gross operating margin | 9900 | €82,369 | €50,214 | -€32,155 | -39.0% |
| Operating profit (loss) | 9901 | €60,351 | €26,999 | -€33,352 | -55.3% |
| Financial income | 75/76B | €671 | €899 | +€229 | +34.1% |
| Recurring financial income | 75 | €671 | €899 | +€229 | +34.1% |
| Financial charges | 65/66B | €2,944 | €1,575 | -€1,369 | -46.5% |
| Recurring financial charges | 65 | €2,944 | €1,263 | -€1,681 | -57.1% |
| Non-recurring financial charges | 66B | - | €312 | +€312 | |
| Profit (loss) for the period before taxes | 9903 | €58,077 | €26,322 | -€31,754 | -54.7% |
| Income taxes | 67/77 | €17,686 | €9,405 | -€8,281 | -46.8% |
| Profit (loss) for the period | 9904 | €40,391 | €16,917 | -€23,473 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,391 | €16,917 | -€23,473 | -58.1% |
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 6 October 2026 via checked.be.