C-quadraat: 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.
C-quadraat
Largest movements
- Receivables within one year -€36,585
down €36,585 (-44.0%), from €83,192 to €46,607
of which Trade receivables: -€34,038
- Tangible fixed assets +€2,591
up €2,591 (+10.9%), from €23,877 to €26,468
of which Furniture and vehicles: +€3,408
- Trade debts -€31,827
down €31,827 (-48.1%), from €66,209 to €34,383
- Profit (loss) carried forward -€10,641
new in 2025: -€10,641
- Current portion of long-term debt +€5,469
up €5,469 (+36.7%), from €14,903 to €20,373
- Short-term financial debts +€5,168
up €5,168 (+85.5%), from €6,045 to €11,213
- Tax, wage and social debts -€2,139
down €2,139 (-44.1%), from €4,850 to €2,711
of which Taxes: -€3,564
- Write-downs +€40,000
new in 2025: €40,000
- Gross operating margin +€22,136
up €22,136 (+85.9%), from €25,769 to €47,905
- Staff costs +€7,451
new in 2025: €7,451
- Taxes -€4,850
no longer reported in 2025 (was €4,850)
- Depreciation +€1,974
up €1,974 (+33.3%), from €5,933 to €7,907
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,069 | €74,155 | -€32,914 | -30.7% |
| Fixed assets | 21/28 | €23,877 | €27,398 | +€3,521 | +14.7% |
| Tangible fixed assets | 22/27 | €23,877 | €26,468 | +€2,591 | +10.9% |
| Plant, machinery and equipment | 23 | €1,802 | €985 | -€817 | -45.3% |
| Furniture and vehicles | 24 | €22,075 | €25,483 | +€3,408 | +15.4% |
| Financial fixed assets | 28 | - | €930 | +€930 | |
| Current assets | 29/58 | €83,192 | €46,757 | -€36,435 | -43.8% |
| Amounts receivable within one year | 40/41 | €83,192 | €46,607 | -€36,585 | -44.0% |
| Trade receivables | 40 | €80,400 | €46,362 | -€34,038 | -42.3% |
| Other amounts receivable | 41 | €2,792 | €244 | -€2,547 | -91.3% |
| Deferred charges and accrued income | 490/1 | - | €150 | +€150 | |
| Total equity and liabilities | 10/49 | €107,069 | €74,155 | -€32,914 | -30.7% |
| Equity | 10/15 | €14,852 | €4,210 | -€10,641 | -71.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,852 | €11,852 | = | 0.0% |
| Distributable reserves | 133 | €11,852 | €11,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,641 | -€10,641 | |
| Amounts payable | 17/49 | €92,217 | €69,944 | -€22,273 | -24.2% |
| Amounts payable within one year | 42/48 | €92,217 | €69,944 | -€22,273 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €14,903 | €20,373 | +€5,469 | +36.7% |
| Financial debts | 43 | €6,045 | €11,213 | +€5,168 | +85.5% |
| Credit institutions | 430/8 | €6,045 | €11,213 | +€5,168 | +85.5% |
| Trade debts | 44 | €66,209 | €34,383 | -€31,827 | -48.1% |
| Suppliers | 440/4 | €66,209 | €34,383 | -€31,827 | -48.1% |
| Taxes, remuneration and social security | 45 | €4,850 | €2,711 | -€2,139 | -44.1% |
| Taxes | 450/3 | €4,850 | €1,286 | -€3,564 | -73.5% |
| Remuneration and social security | 454/9 | - | €1,425 | +€1,425 | |
| Other amounts payable | 47/48 | €210 | €1,265 | +€1,056 | +503.4% |
| Remuneration, social security and pensions | 62 | - | €7,451 | +€7,451 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,933 | €7,907 | +€1,974 | +33.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €40,000 | +€40,000 | |
| Other operating charges | 640/8 | €2,080 | €1,325 | -€755 | -36.3% |
| Gross operating margin | 9900 | €25,769 | €47,905 | +€22,136 | +85.9% |
| Operating profit (loss) | 9901 | €17,756 | -€8,777 | -€26,534 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,054 | €1,865 | +€810 | +76.9% |
| Recurring financial charges | 65 | €1,054 | €1,865 | +€810 | +76.9% |
| Profit (loss) for the period before taxes | 9903 | €16,702 | -€10,641 | -€27,343 | |
| Income taxes | 67/77 | €4,850 | - | -€4,850 | |
| Profit (loss) for the period | 9904 | €11,852 | -€10,641 | -€22,493 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,852 | -€10,641 | -€22,493 |
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 10 October 2026 via checked.be.