T.Q.A.: 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.
T.Q.A.
Largest movements
- Current investments +€75,000
up €75,000 (+17.6%), from €425,000 to €500,000
- Cash +€21,002
up €21,002 (+9.0%), from €233,476 to €254,478
mainly Net result for the year (+€195,983) and Other debts (+€33,738)
- Financial fixed assets +€18,795
up €18,795 (+7.1%), from €264,812 to €283,607
- Reserves +€65,983
up €65,983 (+7.9%), from €833,270 to €899,253
- Other debts +€33,738
up €33,738 (+31.7%), from €106,266 to €140,003
- Gross operating margin +€16,225
up €16,225 (+6.1%), from €264,151 to €280,376
- Taxes +€4,791
up €4,791 (+5.8%), from €82,725 to €87,516
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 | €994,298 | €1,099,461 | +€105,163 | +10.6% |
| Fixed assets | 21/28 | €286,415 | €298,648 | +€12,233 | +4.3% |
| Tangible fixed assets | 22/27 | €21,603 | €15,041 | -€6,562 | -30.4% |
| Furniture and vehicles | 24 | €21,603 | €15,041 | -€6,562 | -30.4% |
| Financial fixed assets | 28 | €264,812 | €283,607 | +€18,795 | +7.1% |
| Current assets | 29/58 | €707,883 | €800,813 | +€92,930 | +13.1% |
| Amounts receivable within one year | 40/41 | €45,810 | €43,039 | -€2,771 | -6.0% |
| Trade receivables | 40 | €20,570 | €21,296 | +€726 | +3.5% |
| Other amounts receivable | 41 | €25,240 | €21,743 | -€3,497 | -13.9% |
| Current investments | 50/53 | €425,000 | €500,000 | +€75,000 | +17.6% |
| Cash at bank and in hand | 54/58 | €233,476 | €254,478 | +€21,002 | +9.0% |
| Deferred charges and accrued income | 490/1 | €3,597 | €3,295 | -€302 | -8.4% |
| Total equity and liabilities | 10/49 | €994,298 | €1,099,461 | +€105,163 | +10.6% |
| Equity | 10/15 | €881,813 | €947,797 | +€65,983 | +7.5% |
| Contributions | 10/11 | €30,460 | €30,460 | = | 0.0% |
| Reserves | 13 | €833,270 | €899,253 | +€65,983 | +7.9% |
| Distributable reserves | 133 | €833,270 | €899,253 | +€65,983 | +7.9% |
| Profit (loss) carried forward | 14 | €18,083 | €18,084 | +€0 | 0.0% |
| Amounts payable | 17/49 | €112,485 | €151,664 | +€39,179 | +34.8% |
| Amounts payable within one year | 42/48 | €112,485 | €151,664 | +€39,179 | +34.8% |
| Trade debts | 44 | €644 | €908 | +€264 | +41.0% |
| Suppliers | 440/4 | €644 | €908 | +€264 | +41.0% |
| Taxes, remuneration and social security | 45 | €5,575 | €10,753 | +€5,178 | +92.9% |
| Taxes | 450/3 | €5,575 | €10,753 | +€5,178 | +92.9% |
| Other amounts payable | 47/48 | €106,266 | €140,003 | +€33,738 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,394 | €7,521 | +€127 | +1.7% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +158% |
| Gross operating margin | 9900 | €264,151 | €280,376 | +€16,225 | +6.1% |
| Operating profit (loss) | 9901 | €256,370 | €271,856 | +€15,487 | +6.0% |
| Financial income | 75/76B | €12,665 | €12,214 | -€451 | -3.6% |
| Recurring financial income | 75 | €12,665 | €12,214 | -€451 | -3.6% |
| Financial charges | 65/66B | €488 | €571 | +€84 | +17.2% |
| Recurring financial charges | 65 | €488 | €571 | +€84 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €268,547 | €283,499 | +€14,952 | +5.6% |
| Income taxes | 67/77 | €82,725 | €87,516 | +€4,791 | +5.8% |
| Profit (loss) for the period | 9904 | €185,822 | €195,983 | +€10,161 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €185,822 | €195,983 | +€10,161 | +5.5% |
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 26 October 2026 via checked.be.