THE QUEEN 77: 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.
THE QUEEN 77
Largest movements
- Receivables within one year +€10,651
up €10,651 (+184,267%), from €6 to €10,656
- Tangible fixed assets +€1,643
new in 2025: €1,643
- Cash -€468
down €468 (-25.1%), from €1,863 to €1,395
- Tax, wage and social debts +€22,210
up €22,210 (+120%), from €18,474 to €40,684
of which Taxes: +€17,276
- Other debts -€16,004
no longer reported in 2025 (was €16,004)
- Profit (loss) carried forward +€5,753
up €5,753 (+13.5%), from -€42,645 to -€36,893
- Trade debts -€2,377
down €2,377 (-80.3%), from €2,962 to €584
- Contributions +€2,120
up €2,120 (+34.2%), from €6,200 to €8,320
- Staff costs +€10,351
new in 2025: €10,351
- Gross operating margin -€4,617
down €4,617, from €1,771 to -€2,846
- Other operating charges +€1,748
up €1,748 (+579%), from €302 to €2,050
- Financial charges -€565
down €565 (-69.4%), from €814 to €249
- Depreciation +€500
new in 2025: €500
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,993 | €13,695 | +€11,702 | +587% |
| Fixed assets | 21/28 | - | €1,643 | +€1,643 | |
| Tangible fixed assets | 22/27 | - | €1,643 | +€1,643 | |
| Furniture and vehicles | 24 | - | €1,643 | +€1,643 | |
| Current assets | 29/58 | €1,993 | €12,051 | +€10,059 | +505% |
| Amounts receivable within one year | 40/41 | €6 | €10,656 | +€10,651 | +184,267% |
| Other amounts receivable | 41 | €6 | €10,656 | +€10,651 | +184,267% |
| Cash at bank and in hand | 54/58 | €1,863 | €1,395 | -€468 | -25.1% |
| Deferred charges and accrued income | 490/1 | €124 | - | -€124 | |
| Total equity and liabilities | 10/49 | €1,993 | €13,695 | +€11,702 | +587% |
| Equity | 10/15 | -€35,447 | -€27,574 | +€7,873 | +22.2% |
| Contributions | 10/11 | €6,200 | €8,320 | +€2,120 | +34.2% |
| Reserves | 13 | €999 | €999 | = | 0.0% |
| Distributable reserves | 133 | €999 | €999 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,645 | -€36,893 | +€5,753 | +13.5% |
| Amounts payable | 17/49 | €37,439 | €41,269 | +€3,829 | +10.2% |
| Amounts payable within one year | 42/48 | €37,439 | €41,269 | +€3,829 | +10.2% |
| Trade debts | 44 | €2,962 | €584 | -€2,377 | -80.3% |
| Suppliers | 440/4 | €2,962 | €584 | -€2,377 | -80.3% |
| Taxes, remuneration and social security | 45 | €18,474 | €40,684 | +€22,210 | +120% |
| Taxes | 450/3 | €17,876 | €35,152 | +€17,276 | +96.6% |
| Remuneration and social security | 454/9 | €598 | €5,532 | +€4,935 | +826% |
| Other amounts payable | 47/48 | €16,004 | - | -€16,004 | |
| Remuneration, social security and pensions | 62 | - | €10,351 | +€10,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €500 | +€500 | |
| Other operating charges | 640/8 | €302 | €2,050 | +€1,748 | +579% |
| Gross operating margin | 9900 | €1,771 | -€2,846 | -€4,617 | |
| Operating profit (loss) | 9901 | €1,469 | -€15,747 | -€17,216 | |
| Financial income | 75/76B | - | €449 | +€449 | |
| Recurring financial income | 75 | - | €449 | +€449 | |
| Non-recurring financial income | 76B | - | €449 | +€449 | |
| Financial charges | 65/66B | €814 | €249 | -€565 | -69.4% |
| Recurring financial charges | 65 | €814 | €249 | -€565 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | €655 | -€15,547 | -€16,202 | |
| Profit (loss) for the period | 9904 | €655 | -€15,547 | -€16,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €655 | -€15,547 | -€16,202 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.