QV: 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.
QV
Largest movements
- Stocks and contracts -€4,155
down €4,155 (-40.0%), from €10,378 to €6,222
- Tangible fixed assets -€2,993
down €2,993 (-8.4%), from €35,670 to €32,677
of which Furniture and vehicles: -€4,374
- Profit (loss) carried forward -€32,655
down €32,655, from €30,383 to -€2,272
- Other debts +€31,692
up €31,692 (+132%), from €23,947 to €55,639
- Tax, wage and social debts -€4,911
down €4,911 (-32.3%), from €15,212 to €10,301
of which Remuneration and social security: -€3,023
- Trade debts +€4,764
up €4,764 (+54.7%), from €8,705 to €13,470
- Current portion of long-term debt -€4,339
down €4,339 (-100%), from €4,339 to €0
- Gross operating margin -€22,940
down €22,940 (-24.8%), from €92,516 to €69,576
- Staff costs -€13,844
down €13,844 (-18.7%), from €73,972 to €60,128
- Taxes -€1,545
down €1,545 (-100%), from €1,545 to €0
- Depreciation -€1,092
down €1,092 (-11.5%), from €9,487 to €8,395
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 | €104,609 | €97,857 | -€6,751 | -6.5% |
| Fixed assets | 21/28 | €36,285 | €32,877 | -€3,407 | -9.4% |
| Intangible fixed assets | 21 | €414 | €0 | -€414 | -100% |
| Tangible fixed assets | 22/27 | €35,670 | €32,677 | -€2,993 | -8.4% |
| Plant, machinery and equipment | 23 | €10,097 | €9,523 | -€574 | -5.7% |
| Furniture and vehicles | 24 | €8,531 | €4,158 | -€4,374 | -51.3% |
| Other tangible fixed assets | 26 | €17,042 | €18,997 | +€1,955 | +11.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €68,324 | €64,980 | -€3,344 | -4.9% |
| Stocks and contracts in progress | 3 | €10,378 | €6,222 | -€4,155 | -40.0% |
| Stocks | 30/36 | €10,378 | €6,222 | -€4,155 | -40.0% |
| Amounts receivable within one year | 40/41 | €4,115 | €4,955 | +€840 | +20.4% |
| Trade receivables | 40 | €0 | €500 | +€500 | |
| Other amounts receivable | 41 | €4,115 | €4,455 | +€340 | +8.3% |
| Cash at bank and in hand | 54/58 | €51,147 | €51,565 | +€418 | +0.8% |
| Deferred charges and accrued income | 490/1 | €2,684 | €2,237 | -€446 | -16.6% |
| Total equity and liabilities | 10/49 | €104,609 | €97,857 | -€6,751 | -6.5% |
| Equity | 10/15 | €51,097 | €17,728 | -€33,369 | -65.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €714 | €0 | -€714 | -100% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €714 | €0 | -€714 | -100% |
| Profit (loss) carried forward | 14 | €30,383 | -€2,272 | -€32,655 | |
| Amounts payable | 17/49 | €53,511 | €80,129 | +€26,618 | +49.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €52,204 | €79,409 | +€27,206 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €4,339 | €0 | -€4,339 | -100% |
| Trade debts | 44 | €8,705 | €13,470 | +€4,764 | +54.7% |
| Suppliers | 440/4 | €8,705 | €13,470 | +€4,764 | +54.7% |
| Taxes, remuneration and social security | 45 | €15,212 | €10,301 | -€4,911 | -32.3% |
| Taxes | 450/3 | €7,106 | €5,219 | -€1,887 | -26.6% |
| Remuneration and social security | 454/9 | €8,105 | €5,082 | -€3,023 | -37.3% |
| Other amounts payable | 47/48 | €23,947 | €55,639 | +€31,692 | +132% |
| Accrued charges and deferred income | 492/3 | €1,308 | €720 | -€588 | -44.9% |
| Non-recurring operating income | 76A | €551 | €0 | -€551 | -100% |
| Remuneration, social security and pensions | 62 | €73,972 | €60,128 | -€13,844 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,487 | €8,395 | -€1,092 | -11.5% |
| Other operating charges | 640/8 | €1,709 | €1,130 | -€579 | -33.9% |
| Non-recurring operating charges | 66A | €390 | €0 | -€390 | -100% |
| Gross operating margin | 9900 | €92,516 | €69,576 | -€22,940 | -24.8% |
| Operating profit (loss) | 9901 | €6,958 | -€77 | -€7,035 | |
| Financial income | 75/76B | €236 | €153 | -€83 | -35.2% |
| Recurring financial income | 75 | €236 | €153 | -€83 | -35.2% |
| Financial charges | 65/66B | €2,206 | €2,348 | +€142 | +6.4% |
| Recurring financial charges | 65 | €2,206 | €2,348 | +€142 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €4,988 | -€2,272 | -€7,260 | |
| Income taxes | 67/77 | €1,545 | €0 | -€1,545 | -100% |
| Profit (loss) for the period | 9904 | €3,443 | -€2,272 | -€5,715 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,443 | -€2,272 | -€5,715 |
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 19 October 2026 via checked.be.