AQUINOT 10: 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.
AQUINOT 10
Largest movements
- Tangible fixed assets +€100,724
up €100,724 (+63.5%), from €158,557 to €259,281
of which Other tangible fixed assets: +€107,189
- Cash -€26,050
down €26,050 (-86.4%), from €30,158 to €4,108
mainly Investment in fixed assets (net) (-€128,605) and Net result for the year (-€19,863)
- Debts after one year +€90,000
new in 2025: €90,000
- Profit (loss) carried forward -€19,863
down €19,863 (-24.1%), from -€82,270 to -€102,133
- Accrued charges and deferred income +€3,600
new in 2025: €3,600
- Gross operating margin +€5,582
up €5,582 (+61.7%), from €9,049 to €14,631
- Depreciation +€5,410
up €5,410 (+25.3%), from €21,356 to €26,766
- Taxes +€2,398
up €2,398 (+1,725%), from €139 to €2,537
- Other operating charges -€249
down €249 (-4.7%), from €5,345 to €5,096
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 | €190,312 | €266,586 | +€76,274 | +40.1% |
| Fixed assets | 21/28 | €158,557 | €260,396 | +€101,839 | +64.2% |
| Tangible fixed assets | 22/27 | €158,557 | €259,281 | +€100,724 | +63.5% |
| Land and buildings | 22 | €80,637 | €80,637 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,052 | - | -€1,052 | |
| Furniture and vehicles | 24 | €23,038 | €17,625 | -€5,413 | -23.5% |
| Other tangible fixed assets | 26 | €53,830 | €161,019 | +€107,189 | +199% |
| Financial fixed assets | 28 | - | €1,115 | +€1,115 | |
| Current assets | 29/58 | €31,755 | €6,190 | -€25,565 | -80.5% |
| Amounts receivable within one year | 40/41 | €423 | €250 | -€173 | -40.9% |
| Other amounts receivable | 41 | €423 | €250 | -€173 | -40.9% |
| Cash at bank and in hand | 54/58 | €30,158 | €4,108 | -€26,050 | -86.4% |
| Deferred charges and accrued income | 490/1 | €1,174 | €1,832 | +€658 | +56.0% |
| Total equity and liabilities | 10/49 | €190,312 | €266,586 | +€76,274 | +40.1% |
| Equity | 10/15 | €190,173 | €170,310 | -€19,863 | -10.4% |
| Contributions | 10/11 | €269,381 | €269,381 | = | 0.0% |
| Reserves | 13 | €3,062 | €3,062 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,062 | €3,062 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,062 | €3,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,270 | -€102,133 | -€19,863 | -24.1% |
| Amounts payable | 17/49 | €139 | €96,276 | +€96,137 | +69,163% |
| Amounts payable after more than one year | 17 | - | €90,000 | +€90,000 | |
| Financial debts | 170/4 | - | €90,000 | +€90,000 | |
| Amounts payable within one year | 42/48 | €139 | €2,676 | +€2,537 | +1,825% |
| Trade debts | 44 | - | €2,535 | +€2,535 | |
| Suppliers | 440/4 | - | €2,535 | +€2,535 | |
| Taxes, remuneration and social security | 45 | €139 | €141 | +€2 | +1.4% |
| Taxes | 450/3 | €139 | €141 | +€2 | +1.4% |
| Accrued charges and deferred income | 492/3 | - | €3,600 | +€3,600 | |
| Non-recurring operating income | 76A | - | €3,685 | +€3,685 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,356 | €26,766 | +€5,410 | +25.3% |
| Other operating charges | 640/8 | €5,345 | €5,096 | -€249 | -4.7% |
| Gross operating margin | 9900 | €9,049 | €14,631 | +€5,582 | +61.7% |
| Operating profit (loss) | 9901 | -€17,652 | -€17,231 | +€421 | +2.4% |
| Financial income | 75/76B | - | €55 | +€55 | |
| Recurring financial income | 75 | - | €55 | +€55 | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,787 | -€17,326 | +€461 | +2.6% |
| Income taxes | 67/77 | €139 | €2,537 | +€2,398 | +1,725% |
| Profit (loss) for the period | 9904 | -€17,926 | -€19,863 | -€1,937 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,926 | -€19,863 | -€1,937 | -10.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.