QV MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets +€29,409
up €29,409 (+200%), from €14,707 to €44,116
of which Furniture and vehicles: +€30,912
- Receivables within one year -€26,317
down €26,317 (-64.0%), from €41,149 to €14,833
of which Other amounts receivable: -€26,000
- Cash +€17,811
new in 2025: €17,811
mainly Net result for the year (+€51,928) and Receivables within one year (+€26,317)
- Reserves +€50,000
up €50,000 (+41.7%), from €120,000 to €170,000
- Debts after one year -€32,191
down €32,191 (-5.8%), from €554,093 to €521,901
of which Financial debts: -€32,191
- Financial income -€26,003
down €26,003 (-100.0%), from €26,004 to €1
- Gross operating margin +€8,456
up €8,456 (+10.3%), from €82,052 to €90,508
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 | €781,929 | €803,701 | +€21,771 | +2.8% |
| Fixed assets | 21/28 | €739,707 | €769,116 | +€29,409 | +4.0% |
| Tangible fixed assets | 22/27 | €14,707 | €44,116 | +€29,409 | +200% |
| Furniture and vehicles | 24 | €2,000 | €32,912 | +€30,912 | +1,545% |
| Other tangible fixed assets | 26 | €12,707 | €11,204 | -€1,503 | -11.8% |
| Financial fixed assets | 28 | €725,000 | €725,000 | = | 0.0% |
| Current assets | 29/58 | €42,222 | €34,585 | -€7,638 | -18.1% |
| Amounts receivable within one year | 40/41 | €41,149 | €14,833 | -€26,317 | -64.0% |
| Trade receivables | 40 | €15,149 | €14,833 | -€317 | -2.1% |
| Other amounts receivable | 41 | €26,000 | - | -€26,000 | |
| Cash at bank and in hand | 54/58 | - | €17,811 | +€17,811 | |
| Deferred charges and accrued income | 490/1 | €1,073 | €1,941 | +€868 | +80.9% |
| Total equity and liabilities | 10/49 | €781,929 | €803,701 | +€21,771 | +2.8% |
| Equity | 10/15 | €132,869 | €184,797 | +€51,928 | +39.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Distributable reserves | 133 | €120,000 | €170,000 | +€50,000 | +41.7% |
| Profit (loss) carried forward | 14 | €7,869 | €9,797 | +€1,928 | +24.5% |
| Amounts payable | 17/49 | €649,061 | €618,903 | -€30,157 | -4.6% |
| Amounts payable after more than one year | 17 | €554,093 | €521,901 | -€32,191 | -5.8% |
| Financial debts | 170/4 | €329,093 | €296,901 | -€32,191 | -9.8% |
| Other amounts payable | 178/9 | €225,000 | €225,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €87,093 | €89,127 | +€2,034 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €60,949 | €65,963 | +€5,014 | +8.2% |
| Trade debts | 44 | €966 | - | -€966 | |
| Suppliers | 440/4 | €966 | - | -€966 | |
| Taxes, remuneration and social security | 45 | €25,106 | €21,984 | -€3,122 | -12.4% |
| Taxes | 450/3 | €25,106 | €21,984 | -€3,122 | -12.4% |
| Other amounts payable | 47/48 | €72 | €1,180 | +€1,108 | +1,550% |
| Accrued charges and deferred income | 492/3 | €7,875 | €7,875 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,503 | €3,071 | -€432 | -12.3% |
| Other operating charges | 640/8 | €1,454 | €1,611 | +€158 | +10.9% |
| Gross operating margin | 9900 | €82,052 | €90,508 | +€8,456 | +10.3% |
| Operating profit (loss) | 9901 | €77,096 | €85,826 | +€8,730 | +11.3% |
| Financial income | 75/76B | €26,004 | €1 | -€26,003 | -100.0% |
| Recurring financial income | 75 | €26,004 | €1 | -€26,003 | -100.0% |
| Financial charges | 65/66B | €17,627 | €18,146 | +€519 | +2.9% |
| Recurring financial charges | 65 | €17,627 | €18,146 | +€519 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €85,472 | €67,680 | -€17,792 | -20.8% |
| Income taxes | 67/77 | €16,025 | €15,752 | -€273 | -1.7% |
| Profit (loss) for the period | 9904 | €69,447 | €51,928 | -€17,519 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,447 | €51,928 | -€17,519 | -25.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.