QWAY2CHANGE: 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.
QWAY2CHANGE
Largest movements
- Cash +€36,768
up €36,768 (+115%), from €31,885 to €68,653
mainly Net result for the year (+€59,626) and Deferred charges and accrued income (+€694)
- Receivables within one year +€5,041
up €5,041 (+28.4%), from €17,730 to €22,771
- Reserves +€59,626
up €59,626 (+708%), from €8,426 to €68,053
- Debts after one year -€15,000
down €15,000 (-100%), from €15,000 to €0
- Tax, wage and social debts -€2,364
down €2,364 (-12.9%), from €18,368 to €16,004
- Trade debts -€1,019
down €1,019 (-41.7%), from €2,444 to €1,425
- Gross operating margin +€28,984
up €28,984 (+59.9%), from €48,352 to €77,336
- Taxes +€12,156
up €12,156 (+349%), from €3,478 to €15,634
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 | €55,097 | €95,843 | +€40,746 | +74.0% |
| Fixed assets | 21/28 | €467 | €98 | -€369 | -79.1% |
| Tangible fixed assets | 22/27 | €467 | €98 | -€369 | -79.1% |
| Furniture and vehicles | 24 | €467 | €98 | -€369 | -79.1% |
| Current assets | 29/58 | €54,630 | €95,746 | +€41,115 | +75.3% |
| Amounts receivable within one year | 40/41 | €17,730 | €22,771 | +€5,041 | +28.4% |
| Trade receivables | 40 | €17,730 | €22,771 | +€5,041 | +28.4% |
| Cash at bank and in hand | 54/58 | €31,885 | €68,653 | +€36,768 | +115% |
| Deferred charges and accrued income | 490/1 | €5,015 | €4,322 | -€694 | -13.8% |
| Total equity and liabilities | 10/49 | €55,097 | €95,843 | +€40,746 | +74.0% |
| Equity | 10/15 | €18,426 | €78,053 | +€59,626 | +324% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €8,426 | €68,053 | +€59,626 | +708% |
| Distributable reserves | 133 | €8,426 | €68,053 | +€59,626 | +708% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,671 | €17,791 | -€18,880 | -51.5% |
| Amounts payable after more than one year | 17 | €15,000 | €0 | -€15,000 | -100% |
| Financial debts | 170/4 | €15,000 | €0 | -€15,000 | -100% |
| Amounts payable within one year | 42/48 | €21,671 | €17,791 | -€3,880 | -17.9% |
| Trade debts | 44 | €2,444 | €1,425 | -€1,019 | -41.7% |
| Suppliers | 440/4 | €2,444 | €1,425 | -€1,019 | -41.7% |
| Taxes, remuneration and social security | 45 | €18,368 | €16,004 | -€2,364 | -12.9% |
| Taxes | 450/3 | €18,368 | €16,004 | -€2,364 | -12.9% |
| Other amounts payable | 47/48 | €859 | €362 | -€498 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369 | €369 | = | 0.0% |
| Other operating charges | 640/8 | €319 | €587 | +€268 | +84.0% |
| Gross operating margin | 9900 | €48,352 | €77,336 | +€28,984 | +59.9% |
| Operating profit (loss) | 9901 | €47,664 | €76,380 | +€28,716 | +60.2% |
| Financial charges | 65/66B | €1,453 | €1,120 | -€333 | -22.9% |
| Recurring financial charges | 65 | €1,453 | €1,120 | -€333 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €46,211 | €75,261 | +€29,050 | +62.9% |
| Income taxes | 67/77 | €3,478 | €15,634 | +€12,156 | +349% |
| Profit (loss) for the period | 9904 | €42,733 | €59,626 | +€16,894 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,733 | €59,626 | +€16,894 | +39.5% |
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 13 October 2026 via checked.be.