QUVEE: 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.
QUVEE
Largest movements
- Tangible fixed assets +€275,637
up €275,637 (+206.3%), from €133,578 to €409,215
of which Land and buildings: +€276,317
- Financial fixed assets +€200,000
new in 2025: €200,000
- Receivables within one year +€45,056
up €45,056 (+18.0%), from €250,576 to €295,632
of which Trade receivables: +€44,455
- Current investments -€29,154
down €29,154 (-9.0%), from €323,474 to €294,320
- Debts after one year +€216,545
up €216,545 (+142.9%), from €151,580 to €368,125
- Reserves +€193,581
up €193,581 (+35.2%), from €549,239 to €742,820
- Tax, wage and social debts +€51,577
up €51,577 (+227.3%), from €22,694 to €74,271
- Current portion of long-term debt +€26,875
up €26,875 (+54.1%), from €49,705 to €76,580
- Gross operating margin +€64,531
up €64,531 (+17.2%), from €374,413 to €438,944
- Taxes +€49,165
up €49,165 (+47.8%), from €102,847 to €152,012
- Other operating charges +€37,452
up €37,452 (+842.9%), from €4,443 to €41,895
- Financial charges +€6,713
up €6,713 (+157.6%), from €4,259 to €10,972
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 | €800,927 | €1,290,480 | +€489,553 | +61.1% |
| Fixed assets | 21/28 | €133,578 | €609,215 | +€475,637 | +356.1% |
| Tangible fixed assets | 22/27 | €133,578 | €409,215 | +€275,637 | +206.3% |
| Land and buildings | 22 | €128,782 | €405,100 | +€276,317 | +214.6% |
| Furniture and vehicles | 24 | €4,796 | €4,116 | -€680 | -14.2% |
| Financial fixed assets | 28 | - | €200,000 | +€200,000 | |
| Current assets | 29/58 | €667,349 | €681,265 | +€13,916 | +2.1% |
| Amounts receivable within one year | 40/41 | €250,576 | €295,632 | +€45,056 | +18.0% |
| Trade receivables | 40 | €248,855 | €293,311 | +€44,455 | +17.9% |
| Other amounts receivable | 41 | €1,721 | €2,321 | +€600 | +34.9% |
| Current investments | 50/53 | €323,474 | €294,320 | -€29,154 | -9.0% |
| Cash at bank and in hand | 54/58 | €91,969 | €88,515 | -€3,454 | -3.8% |
| Deferred charges and accrued income | 490/1 | €1,330 | €2,798 | +€1,468 | +110.3% |
| Total equity and liabilities | 10/49 | €800,927 | €1,290,480 | +€489,553 | +61.1% |
| Equity | 10/15 | €561,639 | €755,220 | +€193,581 | +34.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €549,239 | €742,820 | +€193,581 | +35.2% |
| Distributable reserves | 133 | €549,239 | €742,820 | +€193,581 | +35.2% |
| Amounts payable | 17/49 | €239,289 | €535,260 | +€295,972 | +123.7% |
| Amounts payable after more than one year | 17 | €151,580 | €368,125 | +€216,545 | +142.9% |
| Financial debts | 170/4 | €151,580 | €368,125 | +€216,545 | +142.9% |
| Amounts payable within one year | 42/48 | €83,374 | €162,802 | +€79,428 | +95.3% |
| Current portion of amounts payable after more than one year | 42 | €49,705 | €76,580 | +€26,875 | +54.1% |
| Trade debts | 44 | €3,634 | €5,011 | +€1,377 | +37.9% |
| Suppliers | 440/4 | €3,634 | €5,011 | +€1,377 | +37.9% |
| Taxes, remuneration and social security | 45 | €22,694 | €74,271 | +€51,577 | +227.3% |
| Taxes | 450/3 | €22,694 | €74,271 | +€51,577 | +227.3% |
| Other amounts payable | 47/48 | €7,341 | €6,940 | -€401 | -5.5% |
| Accrued charges and deferred income | 492/3 | €4,335 | €4,333 | -€2 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,926 | €41,933 | +€1,007 | +2.5% |
| Other operating charges | 640/8 | €4,443 | €41,895 | +€37,452 | +842.9% |
| Gross operating margin | 9900 | €374,413 | €438,944 | +€64,531 | +17.2% |
| Operating profit (loss) | 9901 | €329,044 | €355,116 | +€26,072 | +7.9% |
| Financial income | 75/76B | €5,001 | €1,450 | -€3,551 | -71.0% |
| Recurring financial income | 75 | €5,001 | €1,450 | -€3,551 | -71.0% |
| Financial charges | 65/66B | €4,259 | €10,972 | +€6,713 | +157.6% |
| Recurring financial charges | 65 | €4,259 | €10,972 | +€6,713 | +157.6% |
| Profit (loss) for the period before taxes | 9903 | €329,786 | €345,593 | +€15,808 | +4.8% |
| Income taxes | 67/77 | €102,847 | €152,012 | +€49,165 | +47.8% |
| Profit (loss) for the period | 9904 | €226,938 | €193,581 | -€33,357 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €226,938 | €193,581 | -€33,357 | -14.7% |
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 5 October 2026 via checked.be.