VQ: what changed
Two fiscal 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.
VQ
Largest movements
- Cash +€4,934
up €4,934 (+60.3%), from €8,179 to €13,114
mainly Depreciation (+€4,274) and Receivables within one year (+€563)
- Tangible fixed assets -€4,274
down €4,274 (-2.1%), from €203,174 to €198,900
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,288
down €1,288 (-21.6%), from €5,968 to €4,679
- Financial charges -€851
down €851 (-95.9%), from €888 to €37
- Taxes -€727
down €727 (-100.0%), from €727 to €0
- Other operating charges -€696
down €696 (-56.9%), from €1,223 to €528
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.
Cash bridge derived
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 | €214,337 | €214,433 | +€96 | 0.0% |
| Fixed assets | 21/28 | €203,174 | €198,900 | -€4,274 | -2.1% |
| Tangible fixed assets | 22/27 | €203,174 | €198,900 | -€4,274 | -2.1% |
| Land and buildings | 22 | €203,174 | €198,900 | -€4,274 | -2.1% |
| Current assets | 29/58 | €11,163 | €15,534 | +€4,371 | +39.2% |
| Amounts receivable within one year | 40/41 | €2,983 | €2,420 | -€563 | -18.9% |
| Trade receivables | 40 | €2,420 | €2,420 | = | 0.0% |
| Other amounts receivable | 41 | €563 | €0 | -€563 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,179 | €13,114 | +€4,934 | +60.3% |
| Total equity and liabilities | 10/49 | €214,337 | €214,433 | +€96 | 0.0% |
| Equity | 10/15 | -€8,323 | -€8,483 | -€160 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,923 | -€27,083 | -€160 | -0.6% |
| Amounts payable | 17/49 | €222,660 | €222,916 | +€256 | +0.1% |
| Amounts payable within one year | 42/48 | €222,660 | €222,788 | +€128 | +0.1% |
| Trade debts | 44 | €170 | €0 | -€170 | -100.0% |
| Suppliers | 440/4 | €170 | €0 | -€170 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €298 | +€298 | |
| Taxes | 450/3 | - | €298 | +€298 | |
| Other amounts payable | 47/48 | €222,490 | €222,490 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Non-recurring operating income | 76A | €3,028 | €0 | -€3,028 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,274 | €4,274 | = | 0.0% |
| Other operating charges | 640/8 | €1,223 | €528 | -€696 | -56.9% |
| Gross operating margin | 9900 | €5,968 | €4,679 | -€1,288 | -21.6% |
| Operating profit (loss) | 9901 | €470 | -€123 | -€593 | |
| Financial charges | 65/66B | €888 | €37 | -€851 | -95.9% |
| Recurring financial charges | 65 | €888 | €37 | -€851 | -95.9% |
| Profit (loss) for the period before taxes | 9903 | -€418 | -€160 | +€259 | +61.8% |
| Income taxes | 67/77 | €727 | €0 | -€727 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,145 | -€160 | +€986 | +86.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,145 | -€160 | +€986 | +86.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.