QVA Consulting: 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.
QVA Consulting
Largest movements
- Cash +€21,364
up €21,364 (+171%), from €12,530 to €33,894
mainly Net result for the year (+€43,709) and Depreciation (+€5,879)
- Tangible fixed assets -€6,190
down €6,190 (-6.0%), from €103,287 to €97,097
of which Land and buildings: -€3,712
- Receivables within one year -€4,491
down €4,491 (-17.0%), from €26,444 to €21,952
of which Other amounts receivable: -€7,045
- Profit (loss) carried forward +€43,709
new in 2025: €43,709
- Other debts -€28,971
down €28,971 (-98.5%), from €29,398 to €427
- Debts after one year -€8,539
down €8,539 (-13.5%), from €63,219 to €54,680
- Trade debts +€3,684
up €3,684 (+192%), from €1,922 to €5,606
- Gross operating margin +€21,663
up €21,663 (+49.8%), from €43,472 to €65,136
- Taxes +€3,566
up €3,566 (+43.6%), from €8,187 to €11,753
- Other operating charges +€1,355
new in 2025: €1,355
- Depreciation -€1,349
down €1,349 (-18.7%), from €7,228 to €5,879
- Financial charges +€673
up €673 (+38.0%), from €1,771 to €2,444
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 | €142,455 | €153,062 | +€10,608 | +7.4% |
| Fixed assets | 21/28 | €103,287 | €97,097 | -€6,190 | -6.0% |
| Tangible fixed assets | 22/27 | €103,287 | €97,097 | -€6,190 | -6.0% |
| Land and buildings | 22 | €99,083 | €95,371 | -€3,712 | -3.7% |
| Furniture and vehicles | 24 | €4,204 | €1,726 | -€2,478 | -58.9% |
| Current assets | 29/58 | €39,167 | €55,965 | +€16,797 | +42.9% |
| Amounts receivable within one year | 40/41 | €26,444 | €21,952 | -€4,491 | -17.0% |
| Trade receivables | 40 | €17,152 | €19,706 | +€2,554 | +14.9% |
| Other amounts receivable | 41 | €9,292 | €2,247 | -€7,045 | -75.8% |
| Cash at bank and in hand | 54/58 | €12,530 | €33,894 | +€21,364 | +171% |
| Deferred charges and accrued income | 490/1 | €194 | €119 | -€75 | -38.7% |
| Total equity and liabilities | 10/49 | €142,455 | €153,062 | +€10,608 | +7.4% |
| Equity | 10/15 | €21,469 | €64,605 | +€43,136 | +201% |
| Contributions | 10/11 | €4,700 | €4,700 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €43,709 | +€43,709 | |
| Investment grants | 15 | €14,909 | €14,335 | -€573 | -3.8% |
| Amounts payable | 17/49 | €120,986 | €88,457 | -€32,529 | -26.9% |
| Amounts payable after more than one year | 17 | €63,219 | €54,680 | -€8,539 | -13.5% |
| Financial debts | 170/4 | €63,219 | €54,680 | -€8,539 | -13.5% |
| Amounts payable within one year | 42/48 | €57,767 | €33,778 | -€23,989 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €8,383 | €8,539 | +€156 | +1.9% |
| Trade debts | 44 | €1,922 | €5,606 | +€3,684 | +192% |
| Suppliers | 440/4 | €1,922 | €5,606 | +€3,684 | +192% |
| Taxes, remuneration and social security | 45 | €18,064 | €19,206 | +€1,142 | +6.3% |
| Taxes | 450/3 | €15,729 | €19,206 | +€3,477 | +22.1% |
| Remuneration and social security | 454/9 | €2,335 | - | -€2,335 | |
| Other amounts payable | 47/48 | €29,398 | €427 | -€28,971 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,228 | €5,879 | -€1,349 | -18.7% |
| Other operating charges | 640/8 | - | €1,355 | +€1,355 | |
| Gross operating margin | 9900 | €43,472 | €65,136 | +€21,663 | +49.8% |
| Operating profit (loss) | 9901 | €36,244 | €57,902 | +€21,658 | +59.8% |
| Financial income | 75/76B | €3 | €5 | +€2 | +70.0% |
| Recurring financial income | 75 | €3 | €5 | +€2 | +70.0% |
| Financial charges | 65/66B | €1,771 | €2,444 | +€673 | +38.0% |
| Recurring financial charges | 65 | €1,771 | €2,444 | +€673 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | €34,476 | €55,463 | +€20,986 | +60.9% |
| Income taxes | 67/77 | €8,187 | €11,753 | +€3,566 | +43.6% |
| Profit (loss) for the period | 9904 | €26,290 | €43,709 | +€17,420 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,290 | €43,709 | +€17,420 | +66.3% |
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 27 October 2026 via checked.be.