Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 58 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
QSM from Houthalen-Helchteren, company number BE0826585005, closed financial year 2025 with a result of € 229,271 after tax. For that financial year QSM recorded a gross margin of € 1.6 million and equity of € 551,438. Compared with financial year 2024, the result moved from € 343,256 to € 229,271. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ 551,438
▲ 71% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 229,271
▼ 33% vs 2024
Profit after tax over the fiscal year.
€ 467,630
▲ 66% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -298,562.
People and assets in 2025
16.6
▲ 1.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 826,480
▲ 21% vs 2024
€ 49,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 188,437
▼ 30% vs 2024
Of which on lease € 185,262.
Debts at end 2025
€ 1.4 million
▼ 9% vs 2024
€ 489,044 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 631,900
▲ 60% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 116,809
▲ 59% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 888,098 | € 1,293,670 | € 1,649,267 | € 1,601,489 | ▼ 3% |
| Profit after taxes | € -114,421 | € -288,348 | € 343,256 | € 229,271 | ▼ 33% |
| Equity | € -532,741 | € -821,089 | € 322,167 | € 551,438 | ▲ 71% |
| Total debts | € 2,135,285 | € 2,452,297 | € 2,051,539 | € 2,136,015 | ▲ 4% |
| Cash | € 51,815 | € 105,004 | € 281,048 | € 467,630 | ▲ 66% |
| Land & buildings | € 572,595 | € 451,194 | € 340,692 | € 218,134 | ▼ 36% |
| Retained profit | € -582,741 | € -871,089 | € -527,833 | € -298,562 | ▲ € 229,271 |
| Bank debt | € 1,289,375 | € 1,767,817 | € 1,515,818 | € 1,375,195 | ▼ 9% |
| Balance sheet total | € 1,604,794 | € 1,706,208 | € 2,423,706 | € 2,687,453 | ▲ 11% |
| Employees (FTE) | 11.7 | 15.2 | 15.3 | 16.6 | ▲ 1.3 |
Key figures of QSM, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to QSM?
What happened at QSM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 229,271 (▼ 33% vs 2024). Source: NBB ↗
- New establishment in Ukkel. KBO
- New establishment in Temse. KBO
- REBANO BV became a director. NBB
- New establishment in Mol. KBO
- New establishment in Hasselt. KBO
- New establishment in Houthalen-Helchteren. KBO
- New establishment in Sint-Truiden. KBO
In short
From € 114,421 loss in 2022 to € 229,271 profit in 2025.
Paid € 5,179 in corporate taxes since 2022.
Best year ever: 2024, with € 343,256 profit.
On average € 96,500 of value added per employee in 2025.
A new publication or filing at QSM? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of REBANO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
QSMBehind QSM is REBANO BV. The shares are held by REBANO (100%). It owns 100% of MOOZE WEST itself.
Directors
According to the 2025 annual accounts
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Grote Baan 205
3530 Houthalen-Helchteren
Tiensesteenweg 168
3800 Sint-Truiden
Active since 11 June 2010
Runkstersteenweg 247
3500 Hasselt
Active since 2 September 2015
Rode-Kruislaan 18
2400 Mol
Active since 2 November 2019
Kasteelstraat 85
9140 Temse
Active since 1 October 2022
Waterloosesteenweg 715 box 38
1180 Ukkel
Active since 5 January 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →MECHFIT
€ 234,263 gross margin · 2025
MOOZE WEST same network
€ 251,283 gross margin · 2025
S2 INVEST same network
€ 1.7 million gross margin · 2025
REBANO same network
€ 165,356 gross margin · 2025
Physio E.B.
€ 116,786 gross margin · 2025
+2 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0826.585.005
- VAT number
- BE 0826.585.005
- Registered office
- Grote Baan 205, 3530 Houthalen-Helchteren
- Names & denominations
- QSM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 June 2010
- Peppol
- Active · Active since 19 Jan 2026
- Activities · NACE
Activiteiten van fitnesscentra
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Activiteiten op het gebied van voeding
Detailhandel in dames-, heren-, baby- en kinderboven- en onderkleding en kledingaccessoires (algemeen assortiment)
Eetgelegenheden met beperkte bediening
Overige menselijke gezondheidszorg, n.e.g.