QUMALI: 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.
QUMALI
Largest movements
- Cash +€1.2m
up €1.2m (+63.8%), from €2.0m to €3.2m
mainly Current investments (+€970,000) and Net result for the year (+€208,704)
- Current investments -€970,000
down €970,000 (-13.7%), from €7.1m to €6.1m
- Profit (loss) carried forward +€208,704
up €208,704 (+16.3%), from -€1.3m to -€1.1m
- Financial charges -€179,462
down €179,462 (-94.0%), from €190,898 to €11,436
of which Financial charges: -€104,462
- Financial income +€37,267
up €37,267 (+14.9%), from €250,259 to €287,526
- Gross operating margin +€18,471
up €18,471 (+135%), from €13,675 to €32,146
- Other operating charges -€13,995
down €13,995 (-20.5%), from €68,396 to €54,401
- Depreciation +€6,815
up €6,815 (+18.1%), from €37,738 to €44,553
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 | €16,533,829 | €16,759,048 | +€225,219 | +1.4% |
| Fixed assets | 21/28 | €7,228,153 | €7,220,114 | -€8,039 | -0.1% |
| Tangible fixed assets | 22/27 | €7,226,568 | €7,218,529 | -€8,039 | -0.1% |
| Land and buildings | 22 | €6,995,456 | €7,021,876 | +€26,420 | +0.4% |
| Plant, machinery and equipment | 23 | €3,696 | €2,264 | -€1,431 | -38.7% |
| Furniture and vehicles | 24 | €227,417 | €194,389 | -€33,028 | -14.5% |
| Financial fixed assets | 28 | €1,585 | €1,585 | = | 0.0% |
| Current assets | 29/58 | €9,305,676 | €9,538,934 | +€233,258 | +2.5% |
| Amounts receivable within one year | 40/41 | €259,737 | €203,881 | -€55,856 | -21.5% |
| Other amounts receivable | 41 | €259,737 | €203,881 | -€55,856 | -21.5% |
| Current investments | 50/53 | €7,080,000 | €6,110,000 | -€970,000 | -13.7% |
| Cash at bank and in hand | 54/58 | €1,956,119 | €3,203,517 | +€1.2m | +63.8% |
| Deferred charges and accrued income | 490/1 | €9,820 | €21,536 | +€11,716 | +119% |
| Total equity and liabilities | 10/49 | €16,533,829 | €16,759,048 | +€225,219 | +1.4% |
| Equity | 10/15 | €444,885 | €653,590 | +€208,704 | +46.9% |
| Contributions | 10/11 | €1,724,000 | €1,724,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,279,115 | -€1,070,410 | +€208,704 | +16.3% |
| Amounts payable | 17/49 | €16,088,943 | €16,105,458 | +€16,515 | +0.1% |
| Amounts payable after more than one year | 17 | €16,085,716 | €16,085,716 | = | 0.0% |
| Other amounts payable | 178/9 | €16,085,716 | €16,085,716 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,227 | €17,233 | +€14,006 | +434% |
| Trade debts | 44 | €496 | €7,267 | +€6,771 | +1,366% |
| Suppliers | 440/4 | €496 | €7,267 | +€6,771 | +1,366% |
| Taxes, remuneration and social security | 45 | €2,643 | €0 | -€2,643 | -100% |
| Taxes | 450/3 | €491 | €0 | -€491 | -100% |
| Remuneration and social security | 454/9 | €2,152 | €0 | -€2,152 | -100% |
| Other amounts payable | 47/48 | €88 | €9,966 | +€9,878 | +11,173% |
| Accrued charges and deferred income | 492/3 | €0 | €2,509 | +€2,509 | |
| Remuneration, social security and pensions | 62 | €136 | €0 | -€136 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,738 | €44,553 | +€6,815 | +18.1% |
| Other operating charges | 640/8 | €68,396 | €54,401 | -€13,995 | -20.5% |
| Non-recurring operating charges | 66A | €5,352 | €0 | -€5,352 | -100% |
| Gross operating margin | 9900 | €13,675 | €32,146 | +€18,471 | +135% |
| Operating profit (loss) | 9901 | -€97,948 | -€66,808 | +€31,140 | +31.8% |
| Financial income | 75/76B | €250,259 | €287,526 | +€37,267 | +14.9% |
| Recurring financial income | 75 | €250,259 | €287,526 | +€37,267 | +14.9% |
| Financial charges | 65/66B | €190,898 | €11,436 | -€179,462 | -94.0% |
| Recurring financial charges | 65 | €115,898 | €11,436 | -€104,462 | -90.1% |
| Non-recurring financial charges | 66B | €75,000 | €0 | -€75,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€38,587 | €209,282 | +€247,869 | |
| Income taxes | 67/77 | €1,370 | €578 | -€792 | -57.8% |
| Profit (loss) for the period | 9904 | -€39,957 | €208,704 | +€248,661 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,957 | €208,704 | +€248,661 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.