CQUR Group: 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.
CQUR Group
Largest movements
- Financial fixed assets +€720,280
up €720,280 (+130%), from €555,000 to €1.3m
- Cash +€35,447
up €35,447 (+78.3%), from €45,250 to €80,697
mainly Debts after one year (+€575,666) and Current portion of long-term debt (+€143,227)
- Tangible fixed assets +€34,911
new in 2025: €34,911
- Debts after one year +€575,666
up €575,666 (+215%), from €267,500 to €843,166
- Current portion of long-term debt +€143,227
up €143,227 (+477%), from €30,000 to €173,227
- Reserves +€63,370
up €63,370 (+42.9%), from €147,577 to €210,947
of which Distributable reserves: +€63,370
- Other debts +€15,336
up €15,336 (+20.2%), from €75,745 to €91,081
- Financial income +€23,022
up €23,022 (+32.0%), from €72,000 to €95,022
- Financial charges -€3,024
down €3,024 (-15.5%), from €19,567 to €16,543
- Taxes +€2,199
up €2,199 (+53.1%), from €4,138 to €6,337
- Depreciation +€940
up €940 (+267%), from €352 to €1,292
- Gross operating margin -€494
down €494 (-8.2%), from -€6,033 to -€6,527
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 | €601,142 | €1,391,816 | +€790,673 | +132% |
| Formation expenses | 20 | €892 | €540 | -€352 | -39.5% |
| Fixed assets | 21/28 | €555,000 | €1,310,191 | +€755,191 | +136% |
| Tangible fixed assets | 22/27 | - | €34,911 | +€34,911 | |
| Leasing and similar rights | 25 | - | €34,911 | +€34,911 | |
| Financial fixed assets | 28 | €555,000 | €1,275,280 | +€720,280 | +130% |
| Current assets | 29/58 | €45,250 | €81,084 | +€35,835 | +79.2% |
| Cash at bank and in hand | 54/58 | €45,250 | €80,697 | +€35,447 | +78.3% |
| Deferred charges and accrued income | 490/1 | - | €388 | +€388 | |
| Total equity and liabilities | 10/49 | €601,142 | €1,391,816 | +€790,673 | +132% |
| Equity | 10/15 | €209,077 | €272,447 | +€63,370 | +30.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €147,577 | €210,947 | +€63,370 | +42.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €141,427 | €204,797 | +€63,370 | +44.8% |
| Amounts payable | 17/49 | €392,066 | €1,119,369 | +€727,303 | +186% |
| Amounts payable after more than one year | 17 | €267,500 | €843,166 | +€575,666 | +215% |
| Financial debts | 170/4 | €267,500 | €843,166 | +€575,666 | +215% |
| Amounts payable within one year | 42/48 | €119,888 | €271,432 | +€151,544 | +126% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €173,227 | +€143,227 | +477% |
| Trade debts | 44 | - | €787 | +€787 | |
| Suppliers | 440/4 | - | €787 | +€787 | |
| Taxes, remuneration and social security | 45 | €14,143 | €6,337 | -€7,806 | -55.2% |
| Taxes | 450/3 | €14,143 | €6,337 | -€7,806 | -55.2% |
| Other amounts payable | 47/48 | €75,745 | €91,081 | +€15,336 | +20.2% |
| Accrued charges and deferred income | 492/3 | €4,678 | €4,771 | +€93 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €1,292 | +€940 | +267% |
| Other operating charges | 640/8 | €528 | €954 | +€426 | +80.7% |
| Gross operating margin | 9900 | -€6,033 | -€6,527 | -€494 | -8.2% |
| Operating profit (loss) | 9901 | -€6,913 | -€8,773 | -€1,860 | -26.9% |
| Financial income | 75/76B | €72,000 | €95,022 | +€23,022 | +32.0% |
| Recurring financial income | 75 | €72,000 | €95,022 | +€23,022 | +32.0% |
| Financial charges | 65/66B | €19,567 | €16,543 | -€3,024 | -15.5% |
| Recurring financial charges | 65 | €19,567 | €16,543 | -€3,024 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €45,520 | €69,707 | +€24,187 | +53.1% |
| Income taxes | 67/77 | €4,138 | €6,337 | +€2,199 | +53.1% |
| Profit (loss) for the period | 9904 | €41,382 | €63,370 | +€21,988 | +53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,382 | €63,370 | +€21,988 | +53.1% |
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 15 October 2026 via checked.be.