Summary
QUERDE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €14,779 and a net result of €11,478. Equity is growing by about 43% per year across the filed financial years. Its solvency ranks better than 15% of 9,743 sector peers (NACE 64, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€14,779▲ 348%
2024 · €3,301
Net result
€11,478▼ 49.4%
2024 · €22,706
Total assets
€175,106▲ 81.3%
2024 · €96,601
Solvency
8.4%▲ 5.0pp
2024 · 3.4%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 27% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€20,358
2025
Net result€11,478
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€175,106
2025
Equity€14,779
2025
Debt€160,328
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€45,356
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)6.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency8.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.61
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€17,240-€17,541▲ 1.7%€30,194▲ 72.1%€5,033▼ 83.3%-€14,739€27,827€20,358▼ 26.8%
Net result€8,191-€8,974within the sector's middle half▲ 9.6%€22,696within the sector's middle half▲ 153%-€1,472below the sector's middle half-€20,906below the sector's middle half▼ 1,321%€22,706within the sector's middle half€11,478within the sector's middle half▼ 49.4%
Equity-€28,698--€19,724below the sector's middle half▲ 31.3%€2,972below the sector's middle half€1,501below the sector's middle half▼ 49.5%-€19,405below the sector's middle half€3,301below the sector's middle half€14,779below the sector's middle half▲ 348%
Total assets€121,645-€134,195within the sector's middle half▲ 10.3%€139,385within the sector's middle half▲ 3.9%€115,854below the sector's middle half▼ 16.9%€90,051below the sector's middle half▼ 22.3%€96,601below the sector's middle half▲ 7.3%€175,106within the sector's middle half▲ 81.3%
Debt€150,343-€153,918▲ 2.4%€136,413▼ 11.4%€114,353▼ 16.2%€109,456▼ 4.3%€93,300▼ 14.8%€160,328▲ 71.8%
Working capital-€22,760--€18,790within the sector's middle half▲ 17.4%€4,914within the sector's middle half€884within the sector's middle half▼ 82.0%-€21,206within the sector's middle half-€3,688within the sector's middle half▲ 82.6%-€45,356below the sector's middle half▼ 1,130%
Solvency-23.6%--14.7%below the sector's middle half▲ 8.9pp2.1%below the sector's middle half▲ 16.8pp1.3%below the sector's middle half▼ 0.8pp-21.5%below the sector's middle half▼ 22.8pp3.4%below the sector's middle half▲ 25.0pp8.4%below the sector's middle half▲ 5.0pp
Current ratio0.13-0.23below the sector's middle half▲ 0.091.21within the sector's middle half▲ 0.981.05within the sector's middle half▼ 0.160.36below the sector's middle half▼ 0.690.89within the sector's middle half▲ 0.540.61below the sector's middle half▼ 0.28
Return on assets (ROA)6.7%-6.7%within the sector's middle half=16.3%within the sector's middle half▲ 9.6pp-1.3%below the sector's middle half▼ 17.6pp-23.2%below the sector's middle half▼ 21.9pp23.5%within the sector's middle half▲ 46.7pp6.6%within the sector's middle half▼ 16.9pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €175,106
Fixed assets
€102,921 ▲ 56.0%
Current assets
€72,186 ▲ 136%
Equity and liabilities €175,106
Equity
€14,779 ▲ 348%
Debt
€160,328 ▲ 71.8%
Debt's share of the balance-sheet total falls from 96.6% to 91.6%. Equity and debt are higher.
Key figures and ratios
ROE
77.7%▼
2024 · 687.9%
Debt ≤ 1 year
€117,542▲
2024 · €34,313
Debt > 1 year
€42,786▼
2024 · €58,296
Income taxes
€4,797▲
2024 · €319
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,800 | €15,134 | €17,908 | €18,534 | €19,260 | €19,932 | €23,217 | ▲ 16.5% |
| Other operating charges640/8 | - | - | - | €1,260 | €597 | €3,902 | €5,755 | ▲ 47.5% |
| Gross operating margin9900 | €34,372 | €33,286 | €49,350 | €24,826 | €5,118 | €51,661 | €49,330 | ▼ 4.5% |
| Operating profit (loss)9901 | €17,240 | €17,541 | €30,194 | €5,033 | -€14,739 | €27,827 | €20,358 | ▼ 26.8% |
| Financial income75/76B | - | - | - | €15 | - | €416 | - | - |
| Recurring financial income75 | - | €7 | €4 | €15 | - | €416 | - | - |
| Financial charges65/66B | - | - | - | €6,520 | €6,167 | €5,218 | €4,083 | ▼ 21.8% |
| Recurring financial charges65 | €9,050 | €8,574 | €7,502 | €6,520 | €6,167 | €5,218 | €4,083 | ▼ 21.8% |
| Profit (loss) for the period before taxes9903 | €8,191 | €8,974 | €22,696 | -€1,472 | -€20,906 | €23,024 | €16,275 | ▼ 29.3% |
| Income taxes67/77 | - | - | - | - | - | €319 | €4,797 | ▲ 15× |
| Profit (loss) for the period9904 | €8,191 | €8,974 | €22,696 | -€1,472 | -€20,906 | €22,706 | €11,478 | ▼ 49.4% |
| Profit (loss) for the period to be appropriated9905 | €8,191 | €8,974 | €22,696 | -€1,472 | -€20,906 | €22,706 | €11,478 | ▼ 49.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €121,645 | €134,195 | €139,385 | €115,854 | €90,051 | €96,601 | €175,106 | ▲ 81.3% |
| Fixed assets21/28 | €118,147 | €128,647 | €110,738 | €95,613 | €78,289 | €65,976 | €102,921 | ▲ 56.0% |
| Tangible fixed assets22/27 | €118,147 | €128,647 | €110,738 | €95,613 | €78,289 | €65,976 | €102,921 | ▲ 56.0% |
| Land and buildings22 | - | - | - | €80,407 | €68,055 | €55,702 | €43,350 | ▼ 22.2% |
| Plant, machinery and equipment23 | - | - | - | €2,067 | €2,315 | €547 | €3,731 | ▲ 582% |
| Furniture and vehicles24 | - | - | - | €13,139 | €7,919 | €9,726 | €55,840 | ▲ 474% |
| Current assets29/58 | €3,499 | €5,548 | €28,647 | €20,240 | €11,762 | €30,625 | €72,186 | ▲ 136% |
| Amounts receivable within one year40/41 | €3,499 | €2,633 | €10,075 | €6,120 | €10,643 | €12,203 | €28,623 | ▲ 135% |
| Trade receivables40 | - | - | - | €5,454 | €10,643 | €12,054 | €25,920 | ▲ 115% |
| Other amounts receivable41 | - | - | - | €666 | - | €149 | €2,703 | ▲ 18× |
| Cash at bank and in hand54/58 | - | €2,407 | €18,572 | €13,338 | - | €15,382 | €43,230 | ▲ 181% |
| Deferred charges and accrued income490/1 | - | - | - | €782 | €1,119 | €3,040 | €333 | ▼ 89.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €121,645 | €134,195 | €139,385 | €115,854 | €90,051 | €96,601 | €175,106 | ▲ 81.3% |
| Equity10/15 | -€28,698 | -€19,724 | €2,972 | €1,501 | -€19,405 | €3,301 | €14,779 | ▲ 348% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€47,298 | -€38,324 | -€15,628 | -€17,099 | -€38,005 | -€15,299 | -€3,821 | ▲ 75.0% |
| Amounts payable17/49 | €150,343 | €153,918 | €136,413 | €114,353 | €109,456 | €93,300 | €160,328 | ▲ 71.8% |
| Amounts payable after more than one year17 | €124,085 | €129,580 | €112,679 | €94,996 | €76,489 | €58,296 | €42,786 | ▼ 26.6% |
| Financial debts170/4 | - | - | - | €94,996 | €76,489 | €58,296 | €42,786 | ▼ 26.6% |
| Amounts payable within one year42/48 | €26,258 | €24,338 | €23,734 | €19,357 | €32,968 | €34,313 | €117,542 | ▲ 243% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,683 | €18,508 | €18,192 | €15,510 | ▼ 14.7% |
| Financial debts43 | - | - | - | - | €10,747 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €10,747 | - | - | - |
| Trade debts44 | €1,978 | €1,105 | €997 | €1,475 | €28 | €4,177 | €892 | ▼ 78.7% |
| Suppliers440/4 | - | - | - | €1,475 | €28 | €4,177 | €892 | ▼ 78.7% |
| Taxes, remuneration and social security45 | - | - | - | €83 | €1,296 | €4,127 | €12,176 | ▲ 195% |
| Taxes450/3 | - | - | - | €83 | €1,296 | €4,127 | €12,176 | ▲ 195% |
| Other amounts payable47/48 | - | - | - | €116 | €2,390 | €7,817 | €88,964 | ▲ 11× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €691 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,191 | €8,974 | €22,696 | -€1,472 | -€20,906 | €22,706 | €11,478 | ▼ 49.4% |
| + Depreciation and write-downs630 | €15,800 | €15,134 | €17,908 | €18,534 | €19,260 | €19,932 | €23,217 | ▲ 16.5% |
| Operating cash flow (approximation) | €23,991 | €24,108 | €40,605 | €17,062 | -€1,646 | €42,638 | €34,695 | ▼ 18.6% |
| Investment in fixed assets (approximation) | - | -€25,634 | €0 | -€3,408 | -€1,936 | -€7,618 | -€60,162 | ▼ 690% |
| Change in cash | - | - | €16,165 | -€5,233 | - | - | €27,848 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 19-12-2025 | 2025-00586099 |
| 30-06-2024 | micro format | 23-12-2024 | 2024-00623941 |
| 30-06-2023 | micro format | 15-12-2023 | 2023-00528854 |
| 30-06-2022 | micro format | 20-12-2022 | 2022-20541194 |
| 30-06-2021 | micro format | 20-12-2021 | 2021-80700478 |
| 30-06-2020 | micro format | 22-12-2020 | 2020-76700592 |
| 30-06-2019 | micro format | 23-12-2019 | 2019-77200081 |
| 30-06-2018 | micro format | 19-12-2018 | 2018-74800305 |
| 30-06-2017 | micro format | 21-12-2017 | 2017-72800309 |
| 30-06-2016 | abbreviated format | 07-12-2016 | 2016-69400552 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,128. 6,635 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.