QUEST FOR SECURITY: what changed
QUEST FOR SECURITY
Largest movements
- Receivables within one year +€39,456
up €39,456 (+201%), from €19,600 to €59,056
of which Trade receivables: +€43,068
- Cash -€8,845
down €8,845 (-38.5%), from €22,951 to €14,106
mainly Receivables within one year (-€39,456) and Net result for the year (-€1,549)
- Tangible fixed assets -€2,281
down €2,281 (-42.9%), from €5,318 to €3,036
of which Furniture and vehicles: -€1,883
- Deferred charges and accrued income -€1,759
down €1,759 (-7.5%), from €23,377 to €21,618
- Other debts +€25,272
up €25,272 (+117%), from €21,542 to €46,814
- Tax, wage and social debts +€2,681
up €2,681 (+17.6%), from €15,272 to €17,953
- Profit (loss) carried forward -€1,549
down €1,549 (-8.9%), from €17,400 to €15,850
- Financial charges +€16,316
up €16,316 (+58.8%), from €27,744 to €44,060
- Gross operating margin +€3,180
up €3,180 (+7.1%), from €45,098 to €48,278
- Depreciation -€1,990
down €1,990 (-46.6%), from €4,272 to €2,282
- Taxes -€1,629
down €1,629 (-43.4%), from €3,749 to €2,120
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 | €102,246 | €128,817 | +€26,572 | +26.0% |
| Fixed assets | 21/28 | €36,318 | €34,036 | -€2,281 | -6.3% |
| Tangible fixed assets | 22/27 | €5,318 | €3,036 | -€2,281 | -42.9% |
| Furniture and vehicles | 24 | €2,650 | €767 | -€1,883 | -71.1% |
| Other tangible fixed assets | 26 | €2,668 | €2,270 | -€399 | -14.9% |
| Financial fixed assets | 28 | €31,000 | €31,000 | = | 0.0% |
| Current assets | 29/58 | €65,928 | €94,781 | +€28,853 | +43.8% |
| Amounts receivable within one year | 40/41 | €19,600 | €59,056 | +€39,456 | +201% |
| Trade receivables | 40 | €15,989 | €59,056 | +€43,068 | +269% |
| Other amounts receivable | 41 | €3,611 | €0 | -€3,611 | -100% |
| Cash at bank and in hand | 54/58 | €22,951 | €14,106 | -€8,845 | -38.5% |
| Deferred charges and accrued income | 490/1 | €23,377 | €21,618 | -€1,759 | -7.5% |
| Total equity and liabilities | 10/49 | €102,246 | €128,817 | +€26,572 | +26.0% |
| Equity | 10/15 | €56,218 | €54,669 | -€1,549 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,218 | €20,218 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,774 | €1,774 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,774 | €1,774 | = | 0.0% |
| Distributable reserves | 133 | €18,444 | €18,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,400 | €15,850 | -€1,549 | -8.9% |
| Amounts payable | 17/49 | €46,028 | €74,149 | +€28,121 | +61.1% |
| Amounts payable within one year | 42/48 | €46,024 | €73,281 | +€27,257 | +59.2% |
| Trade debts | 44 | €9,210 | €8,514 | -€696 | -7.6% |
| Suppliers | 440/4 | €9,210 | €8,514 | -€696 | -7.6% |
| Taxes, remuneration and social security | 45 | €15,272 | €17,953 | +€2,681 | +17.6% |
| Taxes | 450/3 | €15,272 | €17,953 | +€2,681 | +17.6% |
| Other amounts payable | 47/48 | €21,542 | €46,814 | +€25,272 | +117% |
| Accrued charges and deferred income | 492/3 | €4 | €868 | +€864 | +21,604% |
| Non-recurring operating income | 76A | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,272 | €2,282 | -€1,990 | -46.6% |
| Other operating charges | 640/8 | €986 | €1,393 | +€407 | +41.3% |
| Gross operating margin | 9900 | €45,098 | €48,278 | +€3,180 | +7.1% |
| Operating profit (loss) | 9901 | €39,840 | €44,603 | +€4,763 | +12.0% |
| Financial income | 75/76B | €274 | €27 | -€247 | -90.0% |
| Recurring financial income | 75 | €274 | €27 | -€247 | -90.0% |
| Financial charges | 65/66B | €27,744 | €44,060 | +€16,316 | +58.8% |
| Recurring financial charges | 65 | €27,744 | €44,060 | +€16,316 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | €12,370 | €571 | -€11,799 | -95.4% |
| Income taxes | 67/77 | €3,749 | €2,120 | -€1,629 | -43.4% |
| Profit (loss) for the period | 9904 | €8,621 | -€1,549 | -€10,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,621 | -€1,549 | -€10,170 |
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 6 November 2026 via checked.be.