TQS Belgium: 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.
What changed
TQS Belgium
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7,991
2024 · -€38,313+€30,322
Equity
€651,847
2024 · €659,838-€7,991
Cash
€29,910
2024 · €34,036-€4,126
Balance sheet total
€1.1m
2024 · €1.1m-€11,851
Largest movements
Assets
- Tangible fixed assets -€12,136
down €12,136 (-1.2%), from €976,223 to €964,087
of which Land and buildings: -€27,954
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Other operating charges -€48,424
down €48,424 (-90.1%), from €53,758 to €5,334
- Gross operating margin -€13,244
down €13,244 (-19.6%), from €67,696 to €54,452
- Depreciation +€4,939
up €4,939 (+13.5%), from €36,636 to €41,575
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.
Result 2024
-€38,313
Gross operating margin
-€13,244
Depreciation
-€4,939
Other operating charges
+€48,424
Financial income
+€78
Financial charges
-€6
Taxes
+€9
Result 2025
-€7,991
raises the resultlowers the result
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.
From operations
+€25,313
Investment
-€29,439
Financing
€0
Cash 2024
€34,036
From operations (derived)
+€25,313
Net result for the year
-€7,991
Depreciation
+€41,575
Stocks and contracts
-€2,678
Receivables within one year
-€1,638
Smaller working-capital items
-€91
Trade debts
-€10,558
Tax, wage and social debts
-€1,446
Other debts
+€8,140
Investment (derived)
-€29,439
Investment in fixed assets (net)
-€29,439
Cash 2025
€29,910
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,101,720 | €1,089,869 | -€11,851 | -1.1% |
| Fixed assets | 21/28 | €976,263 | €964,127 | -€12,136 | -1.2% |
| Tangible fixed assets | 22/27 | €976,223 | €964,087 | -€12,136 | -1.2% |
| Land and buildings | 22 | €944,267 | €916,313 | -€27,954 | -3.0% |
| Plant, machinery and equipment | 23 | €890 | €1,570 | +€680 | +76.4% |
| Furniture and vehicles | 24 | €28,847 | €44,235 | +€15,388 | +53.3% |
| Other tangible fixed assets | 26 | €2,219 | €1,969 | -€250 | -11.3% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €125,457 | €125,742 | +€285 | +0.2% |
| Stocks and contracts in progress | 3 | €7,393 | €10,071 | +€2,678 | +36.2% |
| Stocks | 30/36 | €7,393 | €10,071 | +€2,678 | +36.2% |
| Amounts receivable within one year | 40/41 | €18,986 | €20,624 | +€1,638 | +8.6% |
| Trade receivables | 40 | €18,821 | €19,410 | +€589 | +3.1% |
| Other amounts receivable | 41 | €165 | €1,214 | +€1,049 | +636% |
| Current investments | 50/53 | €64,391 | €64,391 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,036 | €29,910 | -€4,126 | -12.1% |
| Deferred charges and accrued income | 490/1 | €651 | €746 | +€95 | +14.6% |
| Total equity and liabilities | 10/49 | €1,101,720 | €1,089,869 | -€11,851 | -1.1% |
| Equity | 10/15 | €659,838 | €651,847 | -€7,991 | -1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €9,012 | €9,012 | = | 0.0% |
| Reserves | 13 | €644,626 | €636,635 | -€7,991 | -1.2% |
| Tax-exempt reserves | 132 | €189 | €189 | = | 0.0% |
| Distributable reserves | 133 | €644,437 | €636,446 | -€7,991 | -1.2% |
| Amounts payable | 17/49 | €441,882 | €438,022 | -€3,860 | -0.9% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 170/4 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,878 | €22,014 | -€3,864 | -14.9% |
| Trade debts | 44 | €11,224 | €666 | -€10,558 | -94.1% |
| Suppliers | 440/4 | €11,224 | €666 | -€10,558 | -94.1% |
| Taxes, remuneration and social security | 45 | €4,624 | €3,178 | -€1,446 | -31.3% |
| Taxes | 450/3 | €1,993 | €664 | -€1,329 | -66.7% |
| Remuneration and social security | 454/9 | €2,631 | €2,514 | -€117 | -4.4% |
| Other amounts payable | 47/48 | €10,030 | €18,170 | +€8,140 | +81.2% |
| Accrued charges and deferred income | 492/3 | €16,004 | €16,008 | +€4 | 0.0% |
| Non-recurring operating income | 76A | €18,375 | - | -€18,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,636 | €41,575 | +€4,939 | +13.5% |
| Other operating charges | 640/8 | €53,758 | €5,334 | -€48,424 | -90.1% |
| Gross operating margin | 9900 | €67,696 | €54,452 | -€13,244 | -19.6% |
| Operating profit (loss) | 9901 | -€22,698 | €7,543 | +€30,241 | |
| Financial income | 75/76B | €639 | €717 | +€78 | +12.2% |
| Recurring financial income | 75 | €639 | €717 | +€78 | +12.2% |
| Financial charges | 65/66B | €16,116 | €16,122 | +€6 | 0.0% |
| Recurring financial charges | 65 | €16,116 | €16,122 | +€6 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€38,175 | -€7,862 | +€30,313 | +79.4% |
| Income taxes | 67/77 | €138 | €129 | -€9 | -6.5% |
| Profit (loss) for the period | 9904 | -€38,313 | -€7,991 | +€30,322 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,313 | -€7,991 | +€30,322 | +79.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.