QVIVA: 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.
QVIVA
Largest movements
- Intangible fixed assets -€58,825
down €58,825 (-48.7%), from €120,839 to €62,014
- Receivables within one year -€54,032
down €54,032 (-41.1%), from €131,474 to €77,442
of which Trade receivables: -€65,662
- Cash +€28,022
up €28,022 (+154%), from €18,225 to €46,247
mainly Net result for the year (+€93,017) and Depreciation (+€58,825)
- Stocks and contracts -€25,005
down €25,005 (-20.6%), from €121,482 to €96,477
- Debts after one year -€205,000
down €205,000 (-100%), from €205,000 to €0
- Profit (loss) carried forward +€93,017
up €93,017 (+24.4%), from -€380,491 to -€287,473
- Tax, wage and social debts -€11,108
down €11,108 (-99.2%), from €11,199 to €91
- Trade debts +€8,285
up €8,285 (+7.9%), from €104,361 to €112,645
- Accrued charges and deferred income +€7,934
up €7,934 (+344%), from €2,308 to €10,242
- Gross operating margin -€206,899
down €206,899 (-54.6%), from €378,992 to €172,093
- Financial charges -€12,512
down €12,512 (-38.8%), from €32,235 to €19,723
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 | €394,602 | €285,505 | -€109,097 | -27.6% |
| Fixed assets | 21/28 | €120,839 | €62,014 | -€58,825 | -48.7% |
| Intangible fixed assets | 21 | €120,839 | €62,014 | -€58,825 | -48.7% |
| Current assets | 29/58 | €273,763 | €223,491 | -€50,272 | -18.4% |
| Stocks and contracts in progress | 3 | €121,482 | €96,477 | -€25,005 | -20.6% |
| Stocks | 30/36 | €121,482 | €96,477 | -€25,005 | -20.6% |
| Amounts receivable within one year | 40/41 | €131,474 | €77,442 | -€54,032 | -41.1% |
| Trade receivables | 40 | €131,374 | €65,712 | -€65,662 | -50.0% |
| Other amounts receivable | 41 | €100 | €11,730 | +€11,630 | +11,630% |
| Cash at bank and in hand | 54/58 | €18,225 | €46,247 | +€28,022 | +154% |
| Deferred charges and accrued income | 490/1 | €2,582 | €3,325 | +€743 | +28.8% |
| Total equity and liabilities | 10/49 | €394,602 | €285,505 | -€109,097 | -27.6% |
| Equity | 10/15 | €19,509 | €112,527 | +€93,017 | +477% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€380,491 | -€287,473 | +€93,017 | +24.4% |
| Amounts payable | 17/49 | €375,093 | €172,978 | -€202,114 | -53.9% |
| Amounts payable after more than one year | 17 | €205,000 | €0 | -€205,000 | -100% |
| Financial debts | 170/4 | €205,000 | €0 | -€205,000 | -100% |
| Amounts payable within one year | 42/48 | €167,785 | €162,736 | -€5,048 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €104,361 | €112,645 | +€8,285 | +7.9% |
| Suppliers | 440/4 | €104,361 | €112,645 | +€8,285 | +7.9% |
| Taxes, remuneration and social security | 45 | €11,199 | €91 | -€11,108 | -99.2% |
| Taxes | 450/3 | €11,199 | €91 | -€11,108 | -99.2% |
| Other amounts payable | 47/48 | €2,225 | €0 | -€2,225 | -100% |
| Accrued charges and deferred income | 492/3 | €2,308 | €10,242 | +€7,934 | +344% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,847 | €58,825 | -€3,021 | -4.9% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €378,992 | €172,093 | -€206,899 | -54.6% |
| Operating profit (loss) | 9901 | €316,632 | €112,740 | -€203,892 | -64.4% |
| Financial income | 75/76B | €2 | €0 | -€1 | -72.2% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -72.2% |
| Financial charges | 65/66B | €32,235 | €19,723 | -€12,512 | -38.8% |
| Recurring financial charges | 65 | €32,235 | €19,723 | -€12,512 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €284,399 | €93,017 | -€191,382 | -67.3% |
| Profit (loss) for the period | 9904 | €284,399 | €93,017 | -€191,382 | -67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €284,399 | €93,017 | -€191,382 | -67.3% |
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 18 October 2026 via checked.be.