TOTAL QUALITY MANAGEMENT: 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.
TOTAL QUALITY MANAGEMENT
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€42,250
up €42,250 (+7.1%), from €595,791 to €638,041
of which Distributable reserves: +€42,250
- Tax, wage and social debts -€32,380
down €32,380 (-43.1%), from €75,162 to €42,782
- Gross operating margin +€7,343
up €7,343 (+63.9%), from -€11,491 to -€4,147
- Financial income -€3,311
down €3,311 (-4.4%), from €75,815 to €72,503
- Financial charges +€1,642
up €1,642 (+94.1%), from €1,744 to €3,386
- Taxes +€654
up €654 (+3.1%), from €21,064 to €21,718
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 | €1,623,572 | €1,629,320 | +€5,748 | +0.4% |
| Fixed assets | 21/28 | €454,107 | €454,107 | = | 0.0% |
| Financial fixed assets | 28 | €454,107 | €454,107 | = | 0.0% |
| Current assets | 29/58 | €1,169,464 | €1,175,212 | +€5,748 | +0.5% |
| Amounts receivable after more than one year | 29 | €1,040,603 | €1,041,983 | +€1,381 | +0.1% |
| Other amounts receivable | 291 | €1,040,603 | €1,041,983 | +€1,381 | +0.1% |
| Cash at bank and in hand | 54/58 | €56,927 | €64,437 | +€7,510 | +13.2% |
| Deferred charges and accrued income | 490/1 | €71,935 | €68,792 | -€3,143 | -4.4% |
| Total equity and liabilities | 10/49 | €1,623,572 | €1,629,320 | +€5,748 | +0.4% |
| Equity | 10/15 | €1,473,735 | €1,515,988 | +€42,254 | +2.9% |
| Contributions | 10/11 | €720,155 | €720,155 | = | 0.0% |
| Capital | 10 | €720,155 | €720,155 | = | 0.0% |
| Issued capital | 100 | €720,155 | €720,155 | = | 0.0% |
| Reserves | 13 | €595,791 | €638,041 | +€42,250 | +7.1% |
| Non-distributable reserves | 130/1 | €72,016 | €72,016 | = | 0.0% |
| Legal reserve | 130 | €72,016 | €72,016 | = | 0.0% |
| Distributable reserves | 133 | €523,775 | €566,025 | +€42,250 | +8.1% |
| Profit (loss) carried forward | 14 | €157,789 | €157,792 | +€4 | 0.0% |
| Amounts payable | 17/49 | €149,837 | €113,331 | -€36,506 | -24.4% |
| Amounts payable after more than one year | 17 | €65,000 | €60,000 | -€5,000 | -7.7% |
| Other amounts payable | 178/9 | €65,000 | €60,000 | -€5,000 | -7.7% |
| Amounts payable within one year | 42/48 | €84,837 | €53,331 | -€31,506 | -37.1% |
| Financial debts | 43 | €433 | - | -€433 | |
| Credit institutions | 430/8 | €433 | - | -€433 | |
| Trade debts | 44 | €7,884 | €9,407 | +€1,523 | +19.3% |
| Suppliers | 440/4 | €7,884 | €9,407 | +€1,523 | +19.3% |
| Taxes, remuneration and social security | 45 | €75,162 | €42,782 | -€32,380 | -43.1% |
| Taxes | 450/3 | €75,162 | €42,782 | -€32,380 | -43.1% |
| Other amounts payable | 47/48 | €1,359 | €1,142 | -€216 | -15.9% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€11,491 | -€4,147 | +€7,343 | +63.9% |
| Operating profit (loss) | 9901 | -€12,458 | -€5,146 | +€7,312 | +58.7% |
| Financial income | 75/76B | €75,815 | €72,503 | -€3,311 | -4.4% |
| Recurring financial income | 75 | €75,815 | €72,503 | -€3,311 | -4.4% |
| Financial charges | 65/66B | €1,744 | €3,386 | +€1,642 | +94.1% |
| Recurring financial charges | 65 | €1,744 | €3,386 | +€1,642 | +94.1% |
| Profit (loss) for the period before taxes | 9903 | €61,612 | €63,972 | +€2,359 | +3.8% |
| Income taxes | 67/77 | €21,064 | €21,718 | +€654 | +3.1% |
| Profit (loss) for the period | 9904 | €40,548 | €42,254 | +€1,706 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,548 | €42,254 | +€1,706 | +4.2% |
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 15 October 2026 via checked.be.