QOLO: 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.
QOLO
Largest movements
- Tangible fixed assets +€792,528
up €792,528 (+246%), from €321,514 to €1.1m
- Receivables within one year -€304,188
down €304,188 (-69.1%), from €440,075 to €135,887
of which Trade receivables: -€342,188
- Other debts +€417,500
up €417,500 (+102%), from €410,750 to €828,250
- Trade debts +€60,857
new in 2025: €60,857
- Tax, wage and social debts +€15,488
up €15,488 (+40.6%), from €38,141 to €53,629
- Profit (loss) carried forward +€15,316
up €15,316 (+253%), from €6,056 to €21,371
- Current portion of long-term debt -€15,133
no longer reported in 2025 (was €15,133)
- Depreciation +€35,237
up €35,237 (+439%), from €8,018 to €43,255
- Gross operating margin +€11,442
up €11,442 (+17.7%), from €64,612 to €76,054
- Financial charges +€6,343
up €6,343 (+131%), from €4,832 to €11,176
- Taxes +€2,584
up €2,584 (+153%), from €1,686 to €4,270
- Financial income -€1,015
no longer reported in 2025 (was €1,015)
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 | €768,700 | €1,261,075 | +€492,375 | +64.1% |
| Fixed assets | 21/28 | €321,514 | €1,114,042 | +€792,528 | +246% |
| Tangible fixed assets | 22/27 | €321,514 | €1,114,042 | +€792,528 | +246% |
| Land and buildings | 22 | €321,514 | €1,114,042 | +€792,528 | +246% |
| Current assets | 29/58 | €447,185 | €147,033 | -€300,153 | -67.1% |
| Amounts receivable within one year | 40/41 | €440,075 | €135,887 | -€304,188 | -69.1% |
| Trade receivables | 40 | €406,588 | €64,400 | -€342,188 | -84.2% |
| Other amounts receivable | 41 | €33,487 | €71,487 | +€38,000 | +113% |
| Cash at bank and in hand | 54/58 | €7,110 | €11,146 | +€4,036 | +56.8% |
| Total equity and liabilities | 10/49 | €768,700 | €1,261,075 | +€492,375 | +64.1% |
| Equity | 10/15 | €103,706 | €119,021 | +€15,316 | +14.8% |
| Contributions | 10/11 | €97,650 | €97,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,056 | €21,371 | +€15,316 | +253% |
| Amounts payable | 17/49 | €664,994 | €1,142,054 | +€477,060 | +71.7% |
| Amounts payable after more than one year | 17 | €199,317 | €199,317 | = | 0.0% |
| Financial debts | 170/4 | €199,317 | €199,317 | = | 0.0% |
| Amounts payable within one year | 42/48 | €464,024 | €942,736 | +€478,712 | +103% |
| Current portion of amounts payable after more than one year | 42 | €15,133 | - | -€15,133 | |
| Trade debts | 44 | - | €60,857 | +€60,857 | |
| Suppliers | 440/4 | - | €60,857 | +€60,857 | |
| Taxes, remuneration and social security | 45 | €38,141 | €53,629 | +€15,488 | +40.6% |
| Taxes | 450/3 | €38,141 | €53,629 | +€15,488 | +40.6% |
| Other amounts payable | 47/48 | €410,750 | €828,250 | +€417,500 | +102% |
| Accrued charges and deferred income | 492/3 | €1,652 | - | -€1,652 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,018 | €43,255 | +€35,237 | +439% |
| Other operating charges | 640/8 | €1,410 | €2,038 | +€628 | +44.5% |
| Gross operating margin | 9900 | €64,612 | €76,054 | +€11,442 | +17.7% |
| Operating profit (loss) | 9901 | €55,184 | €30,761 | -€24,423 | -44.3% |
| Financial income | 75/76B | €1,015 | - | -€1,015 | |
| Recurring financial income | 75 | €1,015 | - | -€1,015 | |
| Financial charges | 65/66B | €4,832 | €11,176 | +€6,343 | +131% |
| Recurring financial charges | 65 | €4,832 | €11,176 | +€6,343 | +131% |
| Profit (loss) for the period before taxes | 9903 | €51,366 | €19,585 | -€31,781 | -61.9% |
| Income taxes | 67/77 | €1,686 | €4,270 | +€2,584 | +153% |
| Profit (loss) for the period | 9904 | €49,680 | €15,316 | -€34,365 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,680 | €15,316 | -€34,365 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.