QUIMA: what changed
Two fiscal 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.
QUIMA
Largest movements
- Receivables within one year -€143,201
down €143,201 (-29.9%), from €478,540 to €335,339
of which Trade receivables: -€118,294
- Cash -€72,929
down €72,929 (-35.0%), from €208,621 to €135,692
- Tangible fixed assets -€37,961
down €37,961 (-35.1%), from €108,242 to €70,281
- Profit (loss) carried forward -€123,366
down €123,366, from €16,837 to -€106,529
- Reserves +€108,493
up €108,493 (+47.0%), from €231,010 to €339,503
of which Distributable reserves: +€108,493
- Other debts -€91,717
no longer reported in 2025 (was €91,717)
- Debts after one year -€57,786
down €57,786 (-64.2%), from €90,034 to €32,248
- Tax, wage and social debts -€50,152
down €50,152 (-46.0%), from €109,064 to €58,912
- Gross operating margin -€346,032
down €346,032, from €274,939 to -€71,093
- Taxes -€78,373
down €78,373 (-99.7%), from €78,575 to €202
- Depreciation +€11,789
up €11,789 (+92.1%), from €12,807 to €24,597
- Other operating charges +€6,958
up €6,958 (+140.3%), from €4,957 to €11,915
- Financial charges +€5,444
up €5,444 (+65.7%), from €8,289 to €13,733
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €799,145 | €541,312 | -€257,833 | -32.3% |
| Fixed assets | 21/28 | €108,557 | €70,281 | -€38,276 | -35.3% |
| Tangible fixed assets | 22/27 | €108,242 | €70,281 | -€37,961 | -35.1% |
| Furniture and vehicles | 24 | €108,242 | €70,281 | -€37,961 | -35.1% |
| Financial fixed assets | 28 | €315 | - | -€315 | |
| Current assets | 29/58 | €690,588 | €471,031 | -€219,557 | -31.8% |
| Amounts receivable within one year | 40/41 | €478,540 | €335,339 | -€143,201 | -29.9% |
| Trade receivables | 40 | €417,072 | €298,778 | -€118,294 | -28.4% |
| Other amounts receivable | 41 | €61,468 | €36,561 | -€24,907 | -40.5% |
| Cash at bank and in hand | 54/58 | €208,621 | €135,692 | -€72,929 | -35.0% |
| Deferred charges and accrued income | 490/1 | €3,427 | - | -€3,427 | |
| Total equity and liabilities | 10/49 | €799,145 | €541,312 | -€257,833 | -32.3% |
| Equity | 10/15 | €317,347 | €302,474 | -€14,873 | -4.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €231,010 | €339,503 | +€108,493 | +47.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €224,810 | €333,303 | +€108,493 | +48.3% |
| Profit (loss) carried forward | 14 | €16,837 | -€106,529 | -€123,366 | |
| Amounts payable | 17/49 | €481,798 | €238,838 | -€242,960 | -50.4% |
| Amounts payable after more than one year | 17 | €90,034 | €32,248 | -€57,786 | -64.2% |
| Financial debts | 170/4 | €90,034 | €32,248 | -€57,786 | -64.2% |
| Amounts payable within one year | 42/48 | €388,264 | €206,590 | -€181,675 | -46.8% |
| Current portion of amounts payable after more than one year | 42 | €38,533 | €28,113 | -€10,420 | -27.0% |
| Trade debts | 44 | €148,951 | €119,565 | -€29,386 | -19.7% |
| Suppliers | 440/4 | €148,951 | €119,565 | -€29,386 | -19.7% |
| Taxes, remuneration and social security | 45 | €109,064 | €58,912 | -€50,152 | -46.0% |
| Taxes | 450/3 | €109,064 | €58,912 | -€50,152 | -46.0% |
| Other amounts payable | 47/48 | €91,717 | - | -€91,717 | |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Remuneration, social security and pensions | 62 | - | €2,932 | +€2,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,807 | €24,597 | +€11,789 | +92.1% |
| Other operating charges | 640/8 | €4,957 | €11,915 | +€6,958 | +140.3% |
| Gross operating margin | 9900 | €274,939 | -€71,093 | -€346,032 | |
| Operating profit (loss) | 9901 | €257,174 | -€110,538 | -€367,712 | |
| Financial income | 75/76B | €2,000 | €1,107 | -€893 | -44.6% |
| Recurring financial income | 75 | €2,000 | €1,107 | -€893 | -44.6% |
| Financial charges | 65/66B | €8,289 | €13,733 | +€5,444 | +65.7% |
| Recurring financial charges | 65 | €8,289 | €13,733 | +€5,444 | +65.7% |
| Profit (loss) for the period before taxes | 9903 | €250,885 | -€123,164 | -€374,049 | |
| Income taxes | 67/77 | €78,575 | €202 | -€78,373 | -99.7% |
| Profit (loss) for the period | 9904 | €172,310 | -€123,366 | -€295,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €172,310 | -€123,366 | -€295,676 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.