Qwalit: 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.
Qwalit
Largest movements
- Tangible fixed assets -€51,461
down €51,461 (-3.8%), from €1.3m to €1.3m
of which Furniture and vehicles: -€29,634
- Receivables within one year -€29,460
down €29,460 (-39.5%), from €74,573 to €45,113
of which Other amounts receivable: -€19,547
- Debts after one year -€99,387
down €99,387 (-10.0%), from €995,842 to €896,455
- Accrued charges and deferred income +€36,833
up €36,833 (+1004.2%), from €3,668 to €40,500
- Other debts -€27,750
down €27,750 (-24.8%), from €111,678 to €83,928
- Tax, wage and social debts +€15,518
up €15,518 (+57.3%), from €27,072 to €42,589
of which Taxes: +€10,736
- Gross operating margin +€53,985
up €53,985 (+27.5%), from €196,241 to €250,226
- Depreciation -€24,012
down €24,012 (-22.7%), from €105,648 to €81,637
- Taxes +€17,926
up €17,926 (+192.0%), from €9,335 to €27,261
- Financial charges -€5,730
down €5,730 (-10.9%), from €52,694 to €46,964
- Other operating charges +€2,664
up €2,664 (+54.7%), from €4,872 to €7,536
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 | €1,499,152 | €1,430,922 | -€68,230 | -4.6% |
| Fixed assets | 21/28 | €1,345,780 | €1,294,319 | -€51,461 | -3.8% |
| Tangible fixed assets | 22/27 | €1,345,780 | €1,294,319 | -€51,461 | -3.8% |
| Land and buildings | 22 | €1,159,970 | €1,144,200 | -€15,770 | -1.4% |
| Plant, machinery and equipment | 23 | €42,489 | €36,622 | -€5,867 | -13.8% |
| Furniture and vehicles | 24 | €141,931 | €112,297 | -€29,634 | -20.9% |
| Other tangible fixed assets | 26 | €1,390 | €1,201 | -€189 | -13.6% |
| Current assets | 29/58 | €153,372 | €136,603 | -€16,769 | -10.9% |
| Stocks and contracts in progress | 3 | €2,500 | €1,500 | -€1,000 | -40.0% |
| Stocks | 30/36 | €2,500 | €1,500 | -€1,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €74,573 | €45,113 | -€29,460 | -39.5% |
| Trade receivables | 40 | €41,485 | €31,572 | -€9,913 | -23.9% |
| Other amounts receivable | 41 | €33,088 | €13,541 | -€19,547 | -59.1% |
| Cash at bank and in hand | 54/58 | €45,782 | €59,468 | +€13,686 | +29.9% |
| Deferred charges and accrued income | 490/1 | €30,518 | €30,522 | +€5 | 0.0% |
| Total equity and liabilities | 10/49 | €1,499,152 | €1,430,922 | -€68,230 | -4.6% |
| Equity | 10/15 | €148,308 | €155,306 | +€6,998 | +4.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €129,758 | €136,756 | +€6,998 | +5.4% |
| Distributable reserves | 133 | €129,758 | €136,756 | +€6,998 | +5.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,350,844 | €1,275,616 | -€75,228 | -5.6% |
| Amounts payable after more than one year | 17 | €995,842 | €896,455 | -€99,387 | -10.0% |
| Financial debts | 170/4 | €995,842 | €896,455 | -€99,387 | -10.0% |
| Amounts payable within one year | 42/48 | €351,334 | €338,661 | -€12,673 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €102,327 | €100,887 | -€1,439 | -1.4% |
| Financial debts | 43 | €105,120 | €105,102 | -€18 | 0.0% |
| Credit institutions | 430/8 | €105,120 | €105,102 | -€18 | 0.0% |
| Trade debts | 44 | €5,137 | €6,154 | +€1,017 | +19.8% |
| Suppliers | 440/4 | €5,137 | €6,154 | +€1,017 | +19.8% |
| Taxes, remuneration and social security | 45 | €27,072 | €42,589 | +€15,518 | +57.3% |
| Taxes | 450/3 | €27,072 | €37,808 | +€10,736 | +39.7% |
| Remuneration and social security | 454/9 | - | €4,781 | +€4,781 | |
| Other amounts payable | 47/48 | €111,678 | €83,928 | -€27,750 | -24.8% |
| Accrued charges and deferred income | 492/3 | €3,668 | €40,500 | +€36,833 | +1004.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,648 | €81,637 | -€24,012 | -22.7% |
| Other operating charges | 640/8 | €4,872 | €7,536 | +€2,664 | +54.7% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €196,241 | €250,226 | +€53,985 | +27.5% |
| Operating profit (loss) | 9901 | €85,721 | €161,054 | +€75,333 | +87.9% |
| Financial income | 75/76B | €20 | €13 | -€7 | -34.1% |
| Recurring financial income | 75 | €20 | €13 | -€7 | -34.1% |
| Financial charges | 65/66B | €52,694 | €46,964 | -€5,730 | -10.9% |
| Recurring financial charges | 65 | €52,694 | €46,964 | -€5,730 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €33,046 | €114,103 | +€81,057 | +245.3% |
| Income taxes | 67/77 | €9,335 | €27,261 | +€17,926 | +192.0% |
| Profit (loss) for the period | 9904 | €23,712 | €86,842 | +€63,131 | +266.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,712 | €86,842 | +€63,131 | +266.2% |
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.