Quentin Meeùs – La Clef: 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.
Quentin Meeùs – La Clef
Largest movements
- Stocks and contracts +€8,859
new in 2025: €8,859
- Receivables within one year +€4,285
up €4,285 (+46.6%), from €9,199 to €13,484
of which Other amounts receivable: +€2,388
- Cash -€1,446
down €1,446 (-11.5%), from €12,610 to €11,164
mainly Stocks and contracts (-€8,859) and Tax, wage and social debts (-€4,834)
- Other debts +€6,727
new in 2025: €6,727
- Tax, wage and social debts -€4,834
no longer reported in 2025 (was €4,834)
- Trade debts +€4,726
up €4,726 (+636%), from €744 to €5,469
- Profit (loss) carried forward +€4,463
up €4,463 (+26.9%), from €16,567 to €21,030
- Accrued charges and deferred income +€380
new in 2025: €380
- Gross operating margin -€14,186
down €14,186 (-65.1%), from €21,790 to €7,604
- Taxes -€2,459
down €2,459 (-50.9%), from €4,834 to €2,375
- Depreciation +€242
up €242 (+18,180%), from €1 to €243
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 | €24,144 | €35,606 | +€11,461 | +47.5% |
| Fixed assets | 21/28 | €2,335 | €2,092 | -€243 | -10.4% |
| Tangible fixed assets | 22/27 | €735 | €492 | -€243 | -33.1% |
| Furniture and vehicles | 24 | €735 | €492 | -€243 | -33.1% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €21,809 | €33,514 | +€11,705 | +53.7% |
| Stocks and contracts in progress | 3 | - | €8,859 | +€8,859 | |
| Stocks | 30/36 | - | €8,859 | +€8,859 | |
| Amounts receivable within one year | 40/41 | €9,199 | €13,484 | +€4,285 | +46.6% |
| Trade receivables | 40 | €7,755 | €9,652 | +€1,897 | +24.5% |
| Other amounts receivable | 41 | €1,444 | €3,833 | +€2,388 | +165% |
| Cash at bank and in hand | 54/58 | €12,610 | €11,164 | -€1,446 | -11.5% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €24,144 | €35,606 | +€11,461 | +47.5% |
| Equity | 10/15 | €18,567 | €23,030 | +€4,463 | +24.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,567 | €21,030 | +€4,463 | +26.9% |
| Amounts payable | 17/49 | €5,578 | €12,576 | +€6,999 | +125% |
| Amounts payable within one year | 42/48 | €5,578 | €12,196 | +€6,619 | +119% |
| Trade debts | 44 | €744 | €5,469 | +€4,726 | +636% |
| Suppliers | 440/4 | €744 | €5,469 | +€4,726 | +636% |
| Taxes, remuneration and social security | 45 | €4,834 | - | -€4,834 | |
| Taxes | 450/3 | €4,834 | - | -€4,834 | |
| Other amounts payable | 47/48 | - | €6,727 | +€6,727 | |
| Accrued charges and deferred income | 492/3 | - | €380 | +€380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €243 | +€242 | +18,180% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €21,790 | €7,604 | -€14,186 | -65.1% |
| Operating profit (loss) | 9901 | €21,401 | €6,961 | -€14,440 | -67.5% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | - | €150 | +€150 | |
| Recurring financial charges | 65 | - | €150 | +€150 | |
| Profit (loss) for the period before taxes | 9903 | €21,401 | €6,838 | -€14,563 | -68.0% |
| Income taxes | 67/77 | €4,834 | €2,375 | -€2,459 | -50.9% |
| Profit (loss) for the period | 9904 | €16,567 | €4,463 | -€12,104 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,567 | €4,463 | -€12,104 | -73.1% |
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 20 October 2026 via checked.be.