QUMAN: 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.
QUMAN
Largest movements
- Cash +€65,639
up €65,639 (+60.5%), from €108,570 to €174,209
mainly Net result for the year (+€66,519) and Depreciation (+€4,149)
- Receivables within one year +€2,468
up €2,468 (+24.1%), from €10,249 to €12,717
of which Trade receivables: +€2,522
- Reserves +€66,519
up €66,519 (+55.3%), from €120,299 to €186,818
- Tax, wage and social debts +€3,820
up €3,820 (+40.4%), from €9,451 to €13,271
- Other debts -€2,943
down €2,943 (-85.9%), from €3,425 to €482
- Trade debts +€2,815
up €2,815 (+410.6%), from €686 to €3,501
- Gross operating margin +€2,750
up €2,750 (+2.9%), from €93,303 to €96,053
- Taxes -€1,915
down €1,915 (-7.7%), from €24,724 to €22,808
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 | €136,861 | €207,071 | +€70,210 | +51.3% |
| Fixed assets | 21/28 | €17,554 | €19,558 | +€2,004 | +11.4% |
| Tangible fixed assets | 22/27 | €17,554 | €19,558 | +€2,004 | +11.4% |
| Plant, machinery and equipment | 23 | €3,086 | €2,006 | -€1,080 | -35.0% |
| Furniture and vehicles | 24 | €4,617 | €8,819 | +€4,202 | +91.0% |
| Other tangible fixed assets | 26 | €9,851 | €8,733 | -€1,118 | -11.3% |
| Current assets | 29/58 | €119,307 | €187,514 | +€68,206 | +57.2% |
| Amounts receivable within one year | 40/41 | €10,249 | €12,717 | +€2,468 | +24.1% |
| Trade receivables | 40 | €10,175 | €12,697 | +€2,522 | +24.8% |
| Other amounts receivable | 41 | €74 | €20 | -€54 | -72.8% |
| Cash at bank and in hand | 54/58 | €108,570 | €174,209 | +€65,639 | +60.5% |
| Deferred charges and accrued income | 490/1 | €488 | €587 | +€99 | +20.4% |
| Total equity and liabilities | 10/49 | €136,861 | €207,071 | +€70,210 | +51.3% |
| Equity | 10/15 | €123,299 | €189,818 | +€66,519 | +53.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €120,299 | €186,818 | +€66,519 | +55.3% |
| Distributable reserves | 133 | €120,299 | €186,818 | +€66,519 | +55.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,562 | €17,254 | +€3,692 | +27.2% |
| Amounts payable within one year | 42/48 | €13,562 | €17,254 | +€3,692 | +27.2% |
| Trade debts | 44 | €686 | €3,501 | +€2,815 | +410.6% |
| Suppliers | 440/4 | €686 | €3,501 | +€2,815 | +410.6% |
| Taxes, remuneration and social security | 45 | €9,451 | €13,271 | +€3,820 | +40.4% |
| Taxes | 450/3 | €9,451 | €13,271 | +€3,820 | +40.4% |
| Other amounts payable | 47/48 | €3,425 | €482 | -€2,943 | -85.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,392 | €4,149 | +€757 | +22.3% |
| Other operating charges | 640/8 | €254 | €597 | +€343 | +134.8% |
| Gross operating margin | 9900 | €93,303 | €96,053 | +€2,750 | +2.9% |
| Operating profit (loss) | 9901 | €89,657 | €91,307 | +€1,651 | +1.8% |
| Financial charges | 65/66B | €1,835 | €1,981 | +€146 | +7.9% |
| Recurring financial charges | 65 | €1,835 | €1,981 | +€146 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €87,822 | €89,327 | +€1,505 | +1.7% |
| Income taxes | 67/77 | €24,724 | €22,808 | -€1,915 | -7.7% |
| Profit (loss) for the period | 9904 | €63,098 | €66,519 | +€3,421 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,098 | €66,519 | +€3,421 | +5.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.