Kwadraad: 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.
Kwadraad
Largest movements
- Receivables within one year -€114,174
down €114,174 (-86.1%), from €132,596 to €18,422
of which Trade receivables: -€114,174
- Tangible fixed assets -€79,922
down €79,922 (-15.3%), from €521,966 to €442,044
of which Land and buildings: -€46,485
- Cash -€61,942
down €61,942 (-89.5%), from €69,183 to €7,241
mainly Trade debts (-€175,152) and Net result for the year (-€108,451)
- Stocks and contracts -€35,022
down €35,022 (-100%), from €35,022 to €0
- Trade debts -€175,152
down €175,152 (-94.8%), from €184,759 to €9,607
- Profit (loss) carried forward -€108,451
down €108,451 (-225%), from -€48,128 to -€156,579
- Debts after one year -€46,528
down €46,528 (-11.7%), from €398,602 to €352,074
- Other debts +€41,133
up €41,133 (+7,603%), from €541 to €41,674
- Gross operating margin -€35,170
down €35,170 (-42.0%), from €83,639 to €48,469
- Other operating charges +€18,032
up €18,032 (+539%), from €3,346 to €21,378
- Depreciation +€9,998
up €9,998 (+13.9%), from €72,000 to €81,998
- Staff costs -€7,527
down €7,527 (-15.6%), from €48,138 to €40,611
- Financial income +€2,376
new in 2025: €2,376
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 | €759,317 | €468,257 | -€291,060 | -38.3% |
| Fixed assets | 21/28 | €522,516 | €442,594 | -€79,922 | -15.3% |
| Tangible fixed assets | 22/27 | €521,966 | €442,044 | -€79,922 | -15.3% |
| Land and buildings | 22 | €410,316 | €363,831 | -€46,485 | -11.3% |
| Plant, machinery and equipment | 23 | €13,006 | €7,283 | -€5,723 | -44.0% |
| Furniture and vehicles | 24 | €98,644 | €70,930 | -€27,714 | -28.1% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €236,801 | €25,663 | -€211,138 | -89.2% |
| Stocks and contracts in progress | 3 | €35,022 | €0 | -€35,022 | -100% |
| Stocks | 30/36 | €35,022 | €0 | -€35,022 | -100% |
| Amounts receivable within one year | 40/41 | €132,596 | €18,422 | -€114,174 | -86.1% |
| Trade receivables | 40 | €132,596 | €18,422 | -€114,174 | -86.1% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €69,183 | €7,241 | -€61,942 | -89.5% |
| Total equity and liabilities | 10/49 | €759,317 | €468,257 | -€291,060 | -38.3% |
| Equity | 10/15 | €116,316 | €7,865 | -€108,451 | -93.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,844 | €145,844 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €145,844 | €143,984 | -€1,860 | -1.3% |
| Profit (loss) carried forward | 14 | -€48,128 | -€156,579 | -€108,451 | -225% |
| Amounts payable | 17/49 | €643,001 | €460,392 | -€182,609 | -28.4% |
| Amounts payable after more than one year | 17 | €398,602 | €352,074 | -€46,528 | -11.7% |
| Financial debts | 170/4 | €398,602 | €352,074 | -€46,528 | -11.7% |
| Amounts payable within one year | 42/48 | €244,399 | €108,318 | -€136,081 | -55.7% |
| Current portion of amounts payable after more than one year | 42 | €41,823 | €47,235 | +€5,412 | +12.9% |
| Trade debts | 44 | €184,759 | €9,607 | -€175,152 | -94.8% |
| Suppliers | 440/4 | €184,759 | €9,607 | -€175,152 | -94.8% |
| Taxes, remuneration and social security | 45 | €17,276 | €9,802 | -€7,474 | -43.3% |
| Taxes | 450/3 | €6,901 | €6,064 | -€837 | -12.1% |
| Remuneration and social security | 454/9 | €10,375 | €3,738 | -€6,637 | -64.0% |
| Other amounts payable | 47/48 | €541 | €41,674 | +€41,133 | +7,603% |
| Non-recurring operating income | 76A | - | €713 | +€713 | |
| Remuneration, social security and pensions | 62 | €48,138 | €40,611 | -€7,527 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,000 | €81,998 | +€9,998 | +13.9% |
| Other operating charges | 640/8 | €3,346 | €21,378 | +€18,032 | +539% |
| Non-recurring operating charges | 66A | - | €5,238 | +€5,238 | |
| Gross operating margin | 9900 | €83,639 | €48,469 | -€35,170 | -42.0% |
| Operating profit (loss) | 9901 | -€39,845 | -€100,755 | -€60,910 | -153% |
| Financial income | 75/76B | - | €2,376 | +€2,376 | |
| Recurring financial income | 75 | - | €2,376 | +€2,376 | |
| Financial charges | 65/66B | €7,977 | €9,755 | +€1,778 | +22.3% |
| Recurring financial charges | 65 | €7,977 | €9,755 | +€1,778 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | -€47,822 | -€108,134 | -€60,312 | -126% |
| Income taxes | 67/77 | €306 | €317 | +€11 | +3.5% |
| Profit (loss) for the period | 9904 | -€48,128 | -€108,451 | -€60,323 | -125% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,128 | -€108,451 | -€60,323 | -125% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.