QUEST FOR FINANCIALS: what changed
QUEST FOR FINANCIALS
Largest movements
- Deferred charges and accrued income -€70,000
no longer reported in 2025 (was €70,000)
- Receivables within one year +€61,113
up €61,113 (+104%), from €58,684 to €119,797
of which Trade receivables: +€74,382
- Cash +€43,877
up €43,877 (+85.3%), from €51,466 to €95,344
mainly Deferred charges and accrued income (+€70,000) and Net result for the year (+€43,752)
- Reserves +€43,752
up €43,752 (+89.9%), from €48,642 to €92,394
- Other debts -€22,343
down €22,343 (-20.8%), from €107,526 to €85,183
- Tax, wage and social debts +€12,407
up €12,407 (+103%), from €12,010 to €24,416
- Gross operating margin +€32,430
up €32,430 (+96.2%), from €33,714 to €66,144
- Taxes +€9,243
up €9,243 (+128%), from €7,193 to €16,436
- Financial charges -€4,062
down €4,062 (-95.1%), from €4,270 to €208
- Depreciation -€1,776
down €1,776 (-28.7%), from €6,191 to €4,415
- Other operating charges -€1,774
down €1,774 (-57.1%), from €3,107 to €1,333
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 | €192,357 | €227,102 | +€34,745 | +18.1% |
| Fixed assets | 21/28 | €12,207 | €11,962 | -€245 | -2.0% |
| Tangible fixed assets | 22/27 | €12,207 | €10,462 | -€1,745 | -14.3% |
| Land and buildings | 22 | €4,790 | €4,226 | -€564 | -11.8% |
| Plant, machinery and equipment | 23 | €1,708 | €3,357 | +€1,650 | +96.6% |
| Furniture and vehicles | 24 | €5,709 | €2,879 | -€2,830 | -49.6% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €180,150 | €215,140 | +€34,990 | +19.4% |
| Amounts receivable within one year | 40/41 | €58,684 | €119,797 | +€61,113 | +104% |
| Trade receivables | 40 | €45,414 | €119,797 | +€74,382 | +164% |
| Other amounts receivable | 41 | €13,270 | - | -€13,270 | |
| Cash at bank and in hand | 54/58 | €51,466 | €95,344 | +€43,877 | +85.3% |
| Deferred charges and accrued income | 490/1 | €70,000 | - | -€70,000 | |
| Total equity and liabilities | 10/49 | €192,357 | €227,102 | +€34,745 | +18.1% |
| Equity | 10/15 | €72,777 | €116,528 | +€43,752 | +60.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €48,642 | €92,394 | +€43,752 | +89.9% |
| Distributable reserves | 133 | €48,642 | €92,394 | +€43,752 | +89.9% |
| Profit (loss) carried forward | 14 | €4,135 | €4,135 | = | 0.0% |
| Amounts payable | 17/49 | €119,581 | €110,574 | -€9,007 | -7.5% |
| Amounts payable within one year | 42/48 | €119,536 | €110,158 | -€9,377 | -7.8% |
| Trade debts | 44 | - | €559 | +€559 | |
| Suppliers | 440/4 | - | €559 | +€559 | |
| Taxes, remuneration and social security | 45 | €12,010 | €24,416 | +€12,407 | +103% |
| Taxes | 450/3 | €12,010 | €24,416 | +€12,407 | +103% |
| Other amounts payable | 47/48 | €107,526 | €85,183 | -€22,343 | -20.8% |
| Accrued charges and deferred income | 492/3 | €45 | €416 | +€371 | +826% |
| Remuneration, social security and pensions | 62 | €1,041 | - | -€1,041 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,191 | €4,415 | -€1,776 | -28.7% |
| Other operating charges | 640/8 | €3,107 | €1,333 | -€1,774 | -57.1% |
| Gross operating margin | 9900 | €33,714 | €66,144 | +€32,430 | +96.2% |
| Operating profit (loss) | 9901 | €23,375 | €60,396 | +€37,021 | +158% |
| Financial charges | 65/66B | €4,270 | €208 | -€4,062 | -95.1% |
| Recurring financial charges | 65 | €4,270 | €208 | -€4,062 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €19,105 | €60,188 | +€41,083 | +215% |
| Income taxes | 67/77 | €7,193 | €16,436 | +€9,243 | +128% |
| Profit (loss) for the period | 9904 | €11,912 | €43,752 | +€31,840 | +267% |
| Profit (loss) for the period to be appropriated | 9905 | €11,912 | €43,752 | +€31,840 | +267% |
Next steps
Calculation and sources
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 7 November 2026 via checked.be.