ETS QUOIDBACH: 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.
ETS QUOIDBACH
Largest movements
- Stocks and contracts -€67,110
down €67,110 (-36.3%), from €184,688 to €117,578
- Cash +€55,026
up €55,026 (+34.4%), from €159,738 to €214,765
mainly Stocks and contracts (+€67,110) and Net result for the year (+€45,035)
- Receivables within one year +€17,587
up €17,587 (+9.5%), from €185,853 to €203,440
of which Trade receivables: +€20,781
- Tangible fixed assets +€9,908
up €9,908 (+12.2%), from €80,910 to €90,817
of which Land and buildings: +€18,931
- Deferred charges and accrued income +€8,305
up €8,305 (+208.6%), from €3,981 to €12,287
- Reserves +€44,000
up €44,000 (+30.1%), from €146,113 to €190,113
of which Distributable reserves: +€44,000
- Trade debts -€37,480
down €37,480 (-22.9%), from €163,983 to €126,504
- Debts after one year +€17,637
up €17,637 (+117.5%), from €15,007 to €32,643
- Other debts -€10,116
down €10,116 (-38.0%), from €26,601 to €16,485
- Tax, wage and social debts +€8,350
up €8,350 (+7.8%), from €106,572 to €114,922
of which Remuneration and social security: +€13,398
- Staff costs +€30,372
up €30,372 (+11.7%), from €258,896 to €289,268
- Gross operating margin +€13,607
up €13,607 (+3.6%), from €380,845 to €394,452
- Taxes -€6,245
down €6,245 (-22.4%), from €27,898 to €21,652
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
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 | €617,170 | €643,886 | +€26,716 | +4.3% |
| Fixed assets | 21/28 | €82,910 | €95,817 | +€12,908 | +15.6% |
| Tangible fixed assets | 22/27 | €80,910 | €90,817 | +€9,908 | +12.2% |
| Land and buildings | 22 | €28,963 | €47,894 | +€18,931 | +65.4% |
| Plant, machinery and equipment | 23 | €40,777 | €32,438 | -€8,339 | -20.5% |
| Furniture and vehicles | 24 | €11,169 | €10,485 | -€684 | -6.1% |
| Financial fixed assets | 28 | €2,000 | €5,000 | +€3,000 | +150.0% |
| Current assets | 29/58 | €534,261 | €548,069 | +€13,808 | +2.6% |
| Stocks and contracts in progress | 3 | €184,688 | €117,578 | -€67,110 | -36.3% |
| Stocks | 30/36 | €184,688 | €117,578 | -€67,110 | -36.3% |
| Amounts receivable within one year | 40/41 | €185,853 | €203,440 | +€17,587 | +9.5% |
| Trade receivables | 40 | €176,378 | €197,158 | +€20,781 | +11.8% |
| Other amounts receivable | 41 | €9,475 | €6,282 | -€3,194 | -33.7% |
| Cash at bank and in hand | 54/58 | €159,738 | €214,765 | +€55,026 | +34.4% |
| Deferred charges and accrued income | 490/1 | €3,981 | €12,287 | +€8,305 | +208.6% |
| Total equity and liabilities | 10/49 | €617,170 | €643,886 | +€26,716 | +4.3% |
| Equity | 10/15 | €280,889 | €325,924 | +€45,035 | +16.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €146,113 | €190,113 | +€44,000 | +30.1% |
| Tax-exempt reserves | 132 | €254 | €254 | = | 0.0% |
| Distributable reserves | 133 | €145,859 | €189,859 | +€44,000 | +30.2% |
| Profit (loss) carried forward | 14 | €116,184 | €117,218 | +€1,035 | +0.9% |
| Amounts payable | 17/49 | €336,281 | €317,963 | -€18,319 | -5.4% |
| Amounts payable after more than one year | 17 | €15,007 | €32,643 | +€17,637 | +117.5% |
| Financial debts | 170/4 | €15,007 | €32,643 | +€17,637 | +117.5% |
| Amounts payable within one year | 42/48 | €321,275 | €285,319 | -€35,955 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €24,118 | €27,408 | +€3,290 | +13.6% |
| Trade debts | 44 | €163,983 | €126,504 | -€37,480 | -22.9% |
| Suppliers | 440/4 | €163,983 | €126,504 | -€37,480 | -22.9% |
| Taxes, remuneration and social security | 45 | €106,572 | €114,922 | +€8,350 | +7.8% |
| Taxes | 450/3 | €65,273 | €60,225 | -€5,048 | -7.7% |
| Remuneration and social security | 454/9 | €41,299 | €54,697 | +€13,398 | +32.4% |
| Other amounts payable | 47/48 | €26,601 | €16,485 | -€10,116 | -38.0% |
| Non-recurring operating income | 76A | €1,624 | - | -€1,624 | |
| Remuneration, social security and pensions | 62 | €258,896 | €289,268 | +€30,372 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,175 | €37,084 | -€1,091 | -2.9% |
| Other operating charges | 640/8 | €3,877 | €2,845 | -€1,032 | -26.6% |
| Non-recurring operating charges | 66A | €2,455 | - | -€2,455 | |
| Gross operating margin | 9900 | €380,845 | €394,452 | +€13,607 | +3.6% |
| Operating profit (loss) | 9901 | €77,442 | €65,255 | -€12,187 | -15.7% |
| Financial income | 75/76B | €4,835 | €4,786 | -€49 | -1.0% |
| Recurring financial income | 75 | €4,835 | €4,786 | -€49 | -1.0% |
| Financial charges | 65/66B | €3,909 | €3,354 | -€554 | -14.2% |
| Recurring financial charges | 65 | €3,909 | €3,354 | -€554 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €78,368 | €66,687 | -€11,681 | -14.9% |
| Income taxes | 67/77 | €27,898 | €21,652 | -€6,245 | -22.4% |
| Profit (loss) for the period | 9904 | €50,471 | €45,035 | -€5,436 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,471 | €45,035 | -€5,436 | -10.8% |
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 5 October 2026 via checked.be.