QUHA: 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.
QUHA
Largest movements
- Receivables within one year +€60,000
up €60,000 (+40.0%), from €150,000 to €210,000
- Tangible fixed assets -€3,130
down €3,130 (-42.9%), from €7,303 to €4,173
- Cash +€2,344
up €2,344 (+38.4%), from €6,101 to €8,445
mainly Debts after one year (+€58,938) and Net result for the year (+€3,944)
- Debts after one year +€58,938
up €58,938 (+54.2%), from €108,667 to €167,606
- Trade debts -€5,950
down €5,950 (-28.2%), from €21,106 to €15,155
- Reserves +€3,944
up €3,944 (+49.8%), from €7,913 to €11,856
- Gross operating margin -€3,193
down €3,193 (-22.4%), from €14,252 to €11,059
- Financial charges +€989
up €989 (+298%), from €332 to €1,320
- Taxes -€666
down €666 (-26.3%), from €2,536 to €1,870
- Other operating charges +€378
up €378 (+90.8%), from €416 to €795
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 | €163,907 | €222,973 | +€59,066 | +36.0% |
| Fixed assets | 21/28 | €7,303 | €4,173 | -€3,130 | -42.9% |
| Tangible fixed assets | 22/27 | €7,303 | €4,173 | -€3,130 | -42.9% |
| Furniture and vehicles | 24 | €7,303 | €4,173 | -€3,130 | -42.9% |
| Current assets | 29/58 | €156,604 | €218,800 | +€62,196 | +39.7% |
| Amounts receivable within one year | 40/41 | €150,000 | €210,000 | +€60,000 | +40.0% |
| Other amounts receivable | 41 | €150,000 | €210,000 | +€60,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €6,101 | €8,445 | +€2,344 | +38.4% |
| Deferred charges and accrued income | 490/1 | €503 | €355 | -€148 | -29.4% |
| Total equity and liabilities | 10/49 | €163,907 | €222,973 | +€59,066 | +36.0% |
| Equity | 10/15 | €11,913 | €15,856 | +€3,944 | +33.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €7,913 | €11,856 | +€3,944 | +49.8% |
| Distributable reserves | 133 | €7,913 | €11,856 | +€3,944 | +49.8% |
| Amounts payable | 17/49 | €151,995 | €207,117 | +€55,122 | +36.3% |
| Amounts payable after more than one year | 17 | €108,667 | €167,606 | +€58,938 | +54.2% |
| Other amounts payable | 178/9 | €108,667 | €167,606 | +€58,938 | +54.2% |
| Amounts payable within one year | 42/48 | €43,327 | €39,511 | -€3,816 | -8.8% |
| Trade debts | 44 | €21,106 | €15,155 | -€5,950 | -28.2% |
| Suppliers | 440/4 | €21,106 | €15,155 | -€5,950 | -28.2% |
| Taxes, remuneration and social security | 45 | €7,222 | €9,356 | +€2,134 | +29.6% |
| Taxes | 450/3 | €7,222 | €9,356 | +€2,134 | +29.6% |
| Other amounts payable | 47/48 | €15,000 | €15,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,130 | €3,130 | = | 0.0% |
| Other operating charges | 640/8 | €416 | €795 | +€378 | +90.8% |
| Gross operating margin | 9900 | €14,252 | €11,059 | -€3,193 | -22.4% |
| Operating profit (loss) | 9901 | €10,706 | €7,134 | -€3,571 | -33.4% |
| Financial income | 75/76B | €54 | €0 | -€54 | -100% |
| Recurring financial income | 75 | €54 | €0 | -€54 | -100% |
| Financial charges | 65/66B | €332 | €1,320 | +€989 | +298% |
| Recurring financial charges | 65 | €332 | €1,320 | +€989 | +298% |
| Profit (loss) for the period before taxes | 9903 | €10,428 | €5,814 | -€4,614 | -44.2% |
| Income taxes | 67/77 | €2,536 | €1,870 | -€666 | -26.3% |
| Profit (loss) for the period | 9904 | €7,892 | €3,944 | -€3,948 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,892 | €3,944 | -€3,948 | -50.0% |
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 17 October 2026 via checked.be.