D KWADRAAT: 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.
D KWADRAAT
Largest movements
- Deferred charges and accrued income -€17,095
down €17,095 (-100%), from €17,095 to €0
- Tangible fixed assets -€6,670
down €6,670 (-12.6%), from €53,116 to €46,446
of which Furniture and vehicles: -€5,083
- Cash +€4,702
up €4,702 (+303%), from €1,552 to €6,254
mainly Deferred charges and accrued income (+€17,095) and Depreciation (+€13,113)
- Debts after one year -€8,556
down €8,556 (-56.2%), from €15,229 to €6,673
- Profit (loss) carried forward -€7,752
down €7,752 (-18.0%), from -€42,952 to -€50,704
- Trade debts -€6,284
down €6,284 (-80.8%), from €7,779 to €1,496
- Other debts +€3,171
up €3,171 (+33.1%), from €9,573 to €12,745
- Depreciation +€3,288
up €3,288 (+33.5%), from €9,826 to €13,113
- Gross operating margin -€2,865
down €2,865 (-29.3%), from €9,766 to €6,900
- Other operating charges -€257
down €257 (-37.7%), from €682 to €425
- Financial charges -€119
down €119 (-11.6%), from €1,027 to €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.
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 | €96,764 | €77,700 | -€19,064 | -19.7% |
| Fixed assets | 21/28 | €78,116 | €71,446 | -€6,670 | -8.5% |
| Tangible fixed assets | 22/27 | €53,116 | €46,446 | -€6,670 | -12.6% |
| Furniture and vehicles | 24 | €23,939 | €18,856 | -€5,083 | -21.2% |
| Other tangible fixed assets | 26 | €29,176 | €27,589 | -€1,587 | -5.4% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €18,648 | €6,254 | -€12,393 | -66.5% |
| Cash at bank and in hand | 54/58 | €1,552 | €6,254 | +€4,702 | +303% |
| Deferred charges and accrued income | 490/1 | €17,095 | €0 | -€17,095 | -100% |
| Total equity and liabilities | 10/49 | €96,764 | €77,700 | -€19,064 | -19.7% |
| Equity | 10/15 | €55,788 | €48,036 | -€7,752 | -13.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,540 | €92,540 | = | 0.0% |
| Distributable reserves | 133 | €92,540 | €92,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,952 | -€50,704 | -€7,752 | -18.0% |
| Amounts payable | 17/49 | €40,976 | €29,664 | -€11,312 | -27.6% |
| Amounts payable after more than one year | 17 | €15,229 | €6,673 | -€8,556 | -56.2% |
| Financial debts | 170/4 | €15,229 | €6,673 | -€8,556 | -56.2% |
| Amounts payable within one year | 42/48 | €25,747 | €22,991 | -€2,756 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €8,181 | €8,556 | +€375 | +4.6% |
| Trade debts | 44 | €7,779 | €1,496 | -€6,284 | -80.8% |
| Suppliers | 440/4 | €7,779 | €1,496 | -€6,284 | -80.8% |
| Taxes, remuneration and social security | 45 | €213 | €195 | -€18 | -8.6% |
| Taxes | 450/3 | €213 | €195 | -€18 | -8.6% |
| Other amounts payable | 47/48 | €9,573 | €12,745 | +€3,171 | +33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,826 | €13,113 | +€3,288 | +33.5% |
| Other operating charges | 640/8 | €682 | €425 | -€257 | -37.7% |
| Gross operating margin | 9900 | €9,766 | €6,900 | -€2,865 | -29.3% |
| Operating profit (loss) | 9901 | -€742 | -€6,638 | -€5,896 | -795% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,027 | €907 | -€119 | -11.6% |
| Recurring financial charges | 65 | €1,027 | €907 | -€119 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,768 | -€7,545 | -€5,777 | -327% |
| Income taxes | 67/77 | €213 | €207 | -€6 | -2.8% |
| Profit (loss) for the period | 9904 | -€1,981 | -€7,752 | -€5,771 | -291% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,981 | -€7,752 | -€5,771 | -291% |
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 25 October 2026 via checked.be.