QUEVIM: 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.
QUEVIM
Largest movements
- Tangible fixed assets -€294,284
down €294,284 (-7.1%), from €4.2m to €3.9m
of which Plant, machinery and equipment: -€161,916
- Receivables within one year -€169,901
down €169,901 (-21.6%), from €785,273 to €615,372
of which Trade receivables: -€160,952
- Stocks and contracts +€143,046
up €143,046 (+29.2%), from €490,102 to €633,148
- Cash -€97,832
down €97,832 (-9.3%), from €1.1m to €956,250
mainly Debts after one year (-€388,446) and Trade debts (-€386,726)
- Debts after one year -€388,446
down €388,446 (-9.3%), from €4.2m to €3.8m
- Trade debts -€386,726
down €386,726 (-34.2%), from €1.1m to €744,132
- Reserves +€250,998
up €250,998 (+47.7%), from €526,042 to €777,041
of which Distributable reserves: +€250,998
- Current portion of long-term debt +€169,019
up €169,019 (+69.6%), from €242,984 to €412,003
- Accrued charges and deferred income -€134,941
down €134,941 (-33.3%), from €405,104 to €270,163
- Gross operating margin +€1.1m
up €1.1m (+67.1%), from €1.6m to €2.6m
- Staff costs +€291,086
up €291,086 (+24.3%), from €1.2m to €1.5m
- Depreciation +€224,375
up €224,375 (+75.0%), from €299,202 to €523,576
- Financial charges +€134,368
up €134,368 (+93.6%), from €143,583 to €277,951
of which Financial charges: +€133,483
- Taxes +€92,380
up €92,380 (+16022.0%), from €577 to €92,956
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 | €6,871,122 | €6,362,905 | -€508,217 | -7.4% |
| Formation expenses | 20 | €256,804 | €199,493 | -€57,311 | -22.3% |
| Fixed assets | 21/28 | €4,212,152 | €3,927,436 | -€284,716 | -6.8% |
| Tangible fixed assets | 22/27 | €4,169,825 | €3,875,540 | -€294,284 | -7.1% |
| Land and buildings | 22 | €1,503,209 | €1,450,277 | -€52,931 | -3.5% |
| Plant, machinery and equipment | 23 | €2,265,244 | €2,103,328 | -€161,916 | -7.1% |
| Furniture and vehicles | 24 | €401,372 | €321,935 | -€79,437 | -19.8% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €42,327 | €51,896 | +€9,569 | +22.6% |
| Current assets | 29/58 | €2,402,166 | €2,235,976 | -€166,190 | -6.9% |
| Stocks and contracts in progress | 3 | €490,102 | €633,148 | +€143,046 | +29.2% |
| Stocks | 30/36 | €490,102 | €633,148 | +€143,046 | +29.2% |
| Amounts receivable within one year | 40/41 | €785,273 | €615,372 | -€169,901 | -21.6% |
| Trade receivables | 40 | €275,741 | €114,788 | -€160,952 | -58.4% |
| Other amounts receivable | 41 | €509,533 | €500,584 | -€8,949 | -1.8% |
| Cash at bank and in hand | 54/58 | €1,054,082 | €956,250 | -€97,832 | -9.3% |
| Deferred charges and accrued income | 490/1 | €72,708 | €31,205 | -€41,503 | -57.1% |
| Total equity and liabilities | 10/49 | €6,871,122 | €6,362,905 | -€508,217 | -7.4% |
| Equity | 10/15 | €626,042 | €877,041 | +€250,998 | +40.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €526,042 | €777,041 | +€250,998 | +47.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €181,459 | €181,459 | = | 0.0% |
| Distributable reserves | 133 | €334,583 | €585,582 | +€250,998 | +75.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,245,080 | €5,485,864 | -€759,216 | -12.2% |
| Amounts payable after more than one year | 17 | €4,163,068 | €3,774,623 | -€388,446 | -9.3% |
| Financial debts | 170/4 | €4,163,068 | €3,774,623 | -€388,446 | -9.3% |
| Amounts payable within one year | 42/48 | €1,676,908 | €1,441,078 | -€235,829 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €242,984 | €412,003 | +€169,019 | +69.6% |
| Financial debts | 43 | €102,517 | €110,762 | +€8,245 | +8.0% |
| Credit institutions | 430/8 | €102,517 | €110,762 | +€8,245 | +8.0% |
| Trade debts | 44 | €1,130,858 | €744,132 | -€386,726 | -34.2% |
| Suppliers | 440/4 | €1,130,858 | €744,132 | -€386,726 | -34.2% |
| Taxes, remuneration and social security | 45 | €200,549 | €174,182 | -€26,367 | -13.1% |
| Taxes | 450/3 | - | €2,135 | +€2,135 | |
| Remuneration and social security | 454/9 | €200,549 | €172,047 | -€28,502 | -14.2% |
| Accrued charges and deferred income | 492/3 | €405,104 | €270,163 | -€134,941 | -33.3% |
| Non-recurring operating income | 76A | €41,210 | €53,882 | +€12,672 | +30.7% |
| Remuneration, social security and pensions | 62 | €1,198,337 | €1,489,423 | +€291,086 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299,202 | €523,576 | +€224,375 | +75.0% |
| Other operating charges | 640/8 | €385 | €57,260 | +€56,875 | +14755.8% |
| Non-recurring operating charges | 66A | €4,280 | €5,425 | +€1,145 | +26.7% |
| Gross operating margin | 9900 | €1,582,021 | €2,643,409 | +€1.1m | +67.1% |
| Operating profit (loss) | 9901 | €79,816 | €567,725 | +€487,908 | +611.3% |
| Financial income | 75/76B | €27,009 | €54,181 | +€27,172 | +100.6% |
| Recurring financial income | 75 | €27,009 | €54,181 | +€27,172 | +100.6% |
| Financial charges | 65/66B | €143,583 | €277,951 | +€134,368 | +93.6% |
| Recurring financial charges | 65 | €119,670 | €253,153 | +€133,483 | +111.5% |
| Non-recurring financial charges | 66B | €23,913 | €24,797 | +€885 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€36,758 | €343,955 | +€380,713 | |
| Income taxes | 67/77 | €577 | €92,956 | +€92,380 | +16022.0% |
| Profit (loss) for the period | 9904 | -€37,335 | €250,998 | +€288,333 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,335 | €250,998 | +€288,333 |
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 12 October 2026 via checked.be.