HRQuadraat: 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.
HRQuadraat
Largest movements
- Cash -€102,126
down €102,126 (-55.1%), from €185,225 to €83,098
mainly Current investments (-€50,360) and Net result for the year (-€33,683)
- Current investments +€50,360
new in 2025: €50,360
- Receivables within one year -€7,194
down €7,194 (-45.6%), from €15,760 to €8,566
of which Trade receivables: -€15,428
- Reserves -€33,683
down €33,683 (-20.5%), from €164,509 to €130,827
- Trade debts -€17,686
down €17,686 (-76.8%), from €23,026 to €5,341
- Tax, wage and social debts -€8,299
down €8,299 (-58.3%), from €14,234 to €5,936
of which Taxes: -€8,299
- Gross operating margin -€116,493
down €116,493, from €84,875 to -€31,619
- Taxes -€20,324
down €20,324 (-99.3%), from €20,468 to €144
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 | €206,770 | €147,103 | -€59,667 | -28.9% |
| Fixed assets | 21/28 | €4,867 | €4,157 | -€710 | -14.6% |
| Tangible fixed assets | 22/27 | €4,867 | €4,157 | -€710 | -14.6% |
| Plant, machinery and equipment | 23 | - | €573 | +€573 | |
| Furniture and vehicles | 24 | €4,867 | €3,584 | -€1,283 | -26.4% |
| Current assets | 29/58 | €201,903 | €142,946 | -€58,957 | -29.2% |
| Amounts receivable within one year | 40/41 | €15,760 | €8,566 | -€7,194 | -45.6% |
| Trade receivables | 40 | €15,428 | €0 | -€15,428 | -100% |
| Other amounts receivable | 41 | €333 | €8,566 | +€8,233 | +2,475% |
| Current investments | 50/53 | - | €50,360 | +€50,360 | |
| Cash at bank and in hand | 54/58 | €185,225 | €83,098 | -€102,126 | -55.1% |
| Deferred charges and accrued income | 490/1 | €919 | €922 | +€3 | +0.3% |
| Total equity and liabilities | 10/49 | €206,770 | €147,103 | -€59,667 | -28.9% |
| Equity | 10/15 | €169,509 | €135,827 | -€33,683 | -19.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €164,509 | €130,827 | -€33,683 | -20.5% |
| Distributable reserves | 133 | €164,509 | €130,827 | -€33,683 | -20.5% |
| Amounts payable | 17/49 | €37,261 | €11,277 | -€25,984 | -69.7% |
| Amounts payable within one year | 42/48 | €37,261 | €11,277 | -€25,984 | -69.7% |
| Trade debts | 44 | €23,026 | €5,341 | -€17,686 | -76.8% |
| Suppliers | 440/4 | €23,026 | €5,341 | -€17,686 | -76.8% |
| Taxes, remuneration and social security | 45 | €14,234 | €5,936 | -€8,299 | -58.3% |
| Taxes | 450/3 | €11,838 | €3,540 | -€8,299 | -70.1% |
| Remuneration and social security | 454/9 | €2,396 | €2,396 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €1,494 | +€244 | +19.5% |
| Other operating charges | 640/8 | €786 | €810 | +€25 | +3.1% |
| Gross operating margin | 9900 | €84,875 | -€31,619 | -€116,493 | |
| Operating profit (loss) | 9901 | €82,839 | -€33,923 | -€116,762 | |
| Financial income | 75/76B | €354 | €915 | +€561 | +158% |
| Recurring financial income | 75 | €354 | €915 | +€561 | +158% |
| Financial charges | 65/66B | €976 | €531 | -€445 | -45.6% |
| Recurring financial charges | 65 | €976 | €531 | -€445 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €82,217 | -€33,539 | -€115,756 | |
| Income taxes | 67/77 | €20,468 | €144 | -€20,324 | -99.3% |
| Profit (loss) for the period | 9904 | €61,750 | -€33,683 | -€95,432 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,750 | -€33,683 | -€95,432 |
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 13 October 2026 via checked.be.