V.Q.O.: what changed
What changed
V.Q.O.
NACE 86.910, Medical imaging and medical laboratories
filed annual accounts (NBB)
Net result for the year
-€103,893
2025 · €33,489-€137,383
Equity
€802,338
2025 · €1.2m-€359,893
Cash
€34,282
2025 · €364,935-€330,653
Balance sheet total
€1.3m
2025 · €1.7m-€485,948
Largest movements
Assets
- Cash -€330,653
down €330,653 (-90.6%), from €364,935 to €34,282
mainly Contributions, distributions and other (-€256,000) and Net result for the year (-€103,893)
- Receivables after one year -€94,186
down €94,186 (-16.2%), from €582,450 to €488,263
- Tangible fixed assets -€62,983
down €62,983 (-9.0%), from €697,411 to €634,428
of which Land and buildings: -€37,574
Equity and liabilities
- Reserves -€279,351
down €279,351 (-29.3%), from €954,666 to €675,315
of which Distributable reserves: -€256,000
- Profit (loss) carried forward -€80,543
down €80,543 (-93.9%), from -€85,734 to -€166,277
- Tax, wage and social debts -€73,403
down €73,403 (-95.0%), from €77,266 to €3,863
- Debts after one year -€51,900
down €51,900 (-31.7%), from €163,694 to €111,794
Income statement
- Gross operating margin -€223,564
down €223,564, from €189,861 to -€33,703
- Taxes -€76,281
down €76,281, from €72,900 to -€3,381
- Financial charges -€37,475
down €37,475 (-72.5%), from €51,716 to €14,242
- Other operating charges -€10,599
down €10,599 (-46.3%), from €22,906 to €12,308
- Depreciation +€9,257
up €9,257 (+16.9%), from €54,914 to €64,171
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€33,489
Gross operating margin
-€223,564
Depreciation
-€9,257
Other operating charges
+€10,599
Financial income
-€1,371
Financial charges
+€37,475
Taxes
+€76,281
Deferred taxes and other
-€27,544
Result 2026
-€103,893
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€26,619
Investment
-€1,188
Financing
-€302,846
Cash 2025
€364,935
From operations (derived)
-€26,619
Net result for the year
-€103,893
Depreciation
+€64,171
Receivables after one year
+€94,186
Receivables within one year
-€1,874
Provisions
-€7,784
Trade debts
+€9,421
Tax, wage and social debts
-€73,403
Other debts
-€3,509
Accrued charges and deferred income
-€3,934
Investment (derived)
-€1,188
Investment in fixed assets (net)
-€1,188
Financing
-€302,846
Debts after one year
-€51,900
Current portion of long-term debt
+€5,055
Contributions, distributions and other
-€256,000
Cash 2026
€34,282
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,743,761 | €1,257,813 | -€485,948 | -27.9% |
| Fixed assets | 21/28 | €697,411 | €634,428 | -€62,983 | -9.0% |
| Tangible fixed assets | 22/27 | €697,411 | €634,428 | -€62,983 | -9.0% |
| Land and buildings | 22 | €595,370 | €557,796 | -€37,574 | -6.3% |
| Plant, machinery and equipment | 23 | - | €850 | +€850 | |
| Furniture and vehicles | 24 | €102,040 | €75,782 | -€26,259 | -25.7% |
| Current assets | 29/58 | €1,046,350 | €623,385 | -€422,965 | -40.4% |
| Amounts receivable after more than one year | 29 | €582,450 | €488,263 | -€94,186 | -16.2% |
| Trade receivables | 290 | €582,450 | €488,263 | -€94,186 | -16.2% |
| Amounts receivable within one year | 40/41 | €98,965 | €100,840 | +€1,874 | +1.9% |
| Trade receivables | 40 | €6,050 | €6,635 | +€585 | +9.7% |
| Other amounts receivable | 41 | €92,915 | €94,205 | +€1,289 | +1.4% |
| Cash at bank and in hand | 54/58 | €364,935 | €34,282 | -€330,653 | -90.6% |
| Total equity and liabilities | 10/49 | €1,743,761 | €1,257,813 | -€485,948 | -27.9% |
| Equity | 10/15 | €1,162,231 | €802,338 | -€359,893 | -31.0% |
| Contributions | 10/11 | €293,300 | €293,300 | = | 0.0% |
| Capital | 10 | €293,300 | €293,300 | = | 0.0% |
| Issued capital | 100 | €293,300 | €293,300 | = | 0.0% |
| Reserves | 13 | €954,666 | €675,315 | -€279,351 | -29.3% |
| Non-distributable reserves | 130/1 | €29,330 | €29,330 | = | 0.0% |
| Legal reserve | 130 | €29,330 | €29,330 | = | 0.0% |
| Tax-exempt reserves | 132 | €120,301 | €96,950 | -€23,351 | -19.4% |
| Distributable reserves | 133 | €805,035 | €549,035 | -€256,000 | -31.8% |
| Profit (loss) carried forward | 14 | -€85,734 | -€166,277 | -€80,543 | -93.9% |
| Provisions and deferred taxes | 16 | €123,265 | €115,481 | -€7,784 | -6.3% |
| Deferred taxes | 168 | €123,265 | €115,481 | -€7,784 | -6.3% |
| Amounts payable | 17/49 | €458,264 | €339,993 | -€118,271 | -25.8% |
| Amounts payable after more than one year | 17 | €163,694 | €111,794 | -€51,900 | -31.7% |
| Financial debts | 170/4 | €163,694 | €111,794 | -€51,900 | -31.7% |
| Amounts payable within one year | 42/48 | €286,009 | €223,572 | -€62,436 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €46,846 | €51,900 | +€5,055 | +10.8% |
| Trade debts | 44 | €4,142 | €13,563 | +€9,421 | +227% |
| Suppliers | 440/4 | €4,142 | €13,563 | +€9,421 | +227% |
| Taxes, remuneration and social security | 45 | €77,266 | €3,863 | -€73,403 | -95.0% |
| Taxes | 450/3 | €77,266 | €3,863 | -€73,403 | -95.0% |
| Other amounts payable | 47/48 | €157,755 | €154,246 | -€3,509 | -2.2% |
| Accrued charges and deferred income | 492/3 | €8,561 | €4,627 | -€3,934 | -46.0% |
| Non-recurring operating income | 76A | €229,939 | - | -€229,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,914 | €64,171 | +€9,257 | +16.9% |
| Other operating charges | 640/8 | €22,906 | €12,308 | -€10,599 | -46.3% |
| Gross operating margin | 9900 | €189,861 | -€33,703 | -€223,564 | |
| Operating profit (loss) | 9901 | €112,041 | -€110,182 | -€222,223 | |
| Financial income | 75/76B | €10,736 | €9,365 | -€1,371 | -12.8% |
| Recurring financial income | 75 | €10,736 | €9,365 | -€1,371 | -12.8% |
| Financial charges | 65/66B | €51,716 | €14,242 | -€37,475 | -72.5% |
| Recurring financial charges | 65 | €51,716 | €14,242 | -€37,475 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €71,061 | -€115,058 | -€186,119 | |
| Transfer from deferred taxes | 780 | €35,328 | €7,784 | -€27,544 | -78.0% |
| Income taxes | 67/77 | €72,900 | -€3,381 | -€76,281 | |
| Profit (loss) for the period | 9904 | €33,489 | -€103,893 | -€137,383 | |
| Transfer from tax-exempt reserves | 789 | €105,984 | €23,351 | -€82,633 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €139,473 | -€80,543 | -€220,016 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.