CQUR: what changed
Two fiscal 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.
What changed
CQUR
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€235,831
2024 · €93,568+€142,263
Equity
€713,264
2024 · €544,139+€169,124
Cash
€153,209
2024 · €153,318-€109
Balance sheet total
€1.0m
2024 · €1.0m+€28,709
Largest movements
Assets
- Receivables within one year +€47,670
up €47,670 (+37.3%), from €127,897 to €175,566
of which Trade receivables: +€61,092
Equity and liabilities
- Reserves +€169,124
up €169,124 (+32.2%), from €525,539 to €694,664
- Debts after one year -€89,243
down €89,243 (-30.7%), from €291,116 to €201,873
of which Other amounts payable: -€70,000
- Other debts -€33,315
down €33,315 (-96.4%), from €34,556 to €1,241
- Trade debts -€29,024
down €29,024 (-38.9%), from €74,643 to €45,619
Income statement
- Gross operating margin +€177,853
up €177,853 (+56.6%), from €314,479 to €492,333
- Taxes +€50,985
up €50,985 (+199.5%), from €25,561 to €76,547
- Staff costs -€21,904
down €21,904 (-22.3%), from €98,388 to €76,484
- Depreciation +€6,419
up €6,419 (+7.6%), from €84,208 to €90,627
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.
Result 2024
€93,568
Gross operating margin
+€177,853
Staff costs
+€21,904
Depreciation
-€6,419
Other operating charges
-€1,159
Other operating items
+€99
Financial income
-€866
Financial charges
+€1,836
Taxes
-€50,985
Result 2025
€235,831
Cash bridge derived
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.
From operations
+€229,583
Investment
-€79,693
Financing
-€150,000
Cash 2024
€153,318
From operations (derived)
+€229,583
Net result for the year
+€235,831
Depreciation
+€90,627
Stocks and contracts
+€675
Receivables within one year
-€47,670
Deferred charges and accrued income
+€7,242
Trade debts
-€29,024
Tax, wage and social debts
+€6,346
Other debts
-€33,315
Accrued charges and deferred income
-€1,129
Investment (derived)
-€79,693
Investment in fixed assets (net)
-€79,693
Financing
-€150,000
Debts after one year
-€89,243
Current portion of long-term debt
+€5,950
Contributions, distributions and other
-€66,707
Cash 2025
€153,209
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,015,988 | €1,044,697 | +€28,709 | +2.8% |
| Fixed assets | 21/28 | €562,505 | €551,571 | -€10,934 | -1.9% |
| Intangible fixed assets | 21 | €1,280 | €254 | -€1,026 | -80.2% |
| Tangible fixed assets | 22/27 | €561,226 | €551,317 | -€9,909 | -1.8% |
| Land and buildings | 22 | €390,164 | €373,029 | -€17,135 | -4.4% |
| Plant, machinery and equipment | 23 | €108,159 | €74,109 | -€34,050 | -31.5% |
| Furniture and vehicles | 24 | €61,697 | €70,181 | +€8,484 | +13.8% |
| Leasing and similar rights | 25 | €1,206 | €33,998 | +€32,792 | +2720.0% |
| Current assets | 29/58 | €453,482 | €493,126 | +€39,644 | +8.7% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €10,875 | €10,200 | -€675 | -6.2% |
| Stocks | 30/36 | €10,875 | €10,200 | -€675 | -6.2% |
| Amounts receivable within one year | 40/41 | €127,897 | €175,566 | +€47,670 | +37.3% |
| Trade receivables | 40 | €83,825 | €144,917 | +€61,092 | +72.9% |
| Other amounts receivable | 41 | €44,072 | €30,650 | -€13,422 | -30.5% |
| Cash at bank and in hand | 54/58 | €153,318 | €153,209 | -€109 | -0.1% |
| Deferred charges and accrued income | 490/1 | €11,392 | €4,151 | -€7,242 | -63.6% |
| Total equity and liabilities | 10/49 | €1,015,988 | €1,044,697 | +€28,709 | +2.8% |
| Equity | 10/15 | €544,139 | €713,264 | +€169,124 | +31.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €525,539 | €694,664 | +€169,124 | +32.2% |
| Distributable reserves | 133 | €525,539 | €694,664 | +€169,124 | +32.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €471,848 | €331,433 | -€140,415 | -29.8% |
| Amounts payable after more than one year | 17 | €291,116 | €201,873 | -€89,243 | -30.7% |
| Financial debts | 170/4 | €141,116 | €121,873 | -€19,243 | -13.6% |
| Other amounts payable | 178/9 | €150,000 | €80,000 | -€70,000 | -46.7% |
| Amounts payable within one year | 42/48 | €173,930 | €123,886 | -€50,043 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €47,342 | €53,292 | +€5,950 | +12.6% |
| Trade debts | 44 | €74,643 | €45,619 | -€29,024 | -38.9% |
| Suppliers | 440/4 | €74,643 | €45,619 | -€29,024 | -38.9% |
| Taxes, remuneration and social security | 45 | €17,388 | €23,734 | +€6,346 | +36.5% |
| Taxes | 450/3 | €23 | €19,563 | +€19,540 | +85032.2% |
| Remuneration and social security | 454/9 | €17,365 | €4,171 | -€13,194 | -76.0% |
| Other amounts payable | 47/48 | €34,556 | €1,241 | -€33,315 | -96.4% |
| Accrued charges and deferred income | 492/3 | €6,802 | €5,673 | -€1,129 | -16.6% |
| Non-recurring operating income | 76A | €2,479 | €1,800 | -€679 | -27.4% |
| Remuneration, social security and pensions | 62 | €98,388 | €76,484 | -€21,904 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,208 | €90,627 | +€6,419 | +7.6% |
| Other operating charges | 640/8 | €7,085 | €8,244 | +€1,159 | +16.4% |
| Non-recurring operating charges | 66A | €719 | €620 | -€99 | -13.8% |
| Gross operating margin | 9900 | €314,479 | €492,333 | +€177,853 | +56.6% |
| Operating profit (loss) | 9901 | €124,079 | €316,358 | +€192,278 | +155.0% |
| Financial income | 75/76B | €9,981 | €9,115 | -€866 | -8.7% |
| Recurring financial income | 75 | €9,981 | €9,115 | -€866 | -8.7% |
| Financial charges | 65/66B | €14,931 | €13,095 | -€1,836 | -12.3% |
| Recurring financial charges | 65 | €14,931 | €13,095 | -€1,836 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €119,129 | €312,378 | +€193,249 | +162.2% |
| Income taxes | 67/77 | €25,561 | €76,547 | +€50,985 | +199.5% |
| Profit (loss) for the period | 9904 | €93,568 | €235,831 | +€142,263 | +152.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,568 | €235,831 | +€142,263 | +152.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.