KwadrAnt: 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.
What changed
KwadrAnt
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€159,478
2024 · €21,078+€138,400
Equity
€182,399
2024 · €172,921+€9,478
Cash
€21,123
2024 · €17,952+€3,171
Balance sheet total
€2.2m
2024 · €2.4m-€243,520
Largest movements
Assets
- Intangible fixed assets -€86,100
down €86,100 (-19.6%), from €438,962 to €352,862
- Stocks and contracts -€75,284
down €75,284 (-23.9%), from €315,295 to €240,012
- Tangible fixed assets -€71,147
down €71,147 (-7.0%), from €1.0m to €941,696
of which Land and buildings: -€41,557
- Formation expenses -€27,759
down €27,759 (-40.7%), from €68,249 to €40,490
Equity and liabilities
- Trade debts -€440,623
down €440,623 (-58.2%), from €757,704 to €317,081
- Short-term financial debts +€173,000
up €173,000 (+34.9%), from €495,000 to €668,000
- Other debts +€85,348
up €85,348 (+979%), from €8,716 to €94,064
- Debts after one year -€54,745
down €54,745 (-11.3%), from €483,628 to €428,884
- Advances received -€43,632
down €43,632 (-12.2%), from €357,878 to €314,247
Income statement
- Staff costs -€137,476
down €137,476 (-16.0%), from €860,697 to €723,221
- Taxes +€52,675
up €52,675 (+326%), from €16,136 to €68,811
- Financial income +€45,767
up €45,767 (+110%), from €41,561 to €87,328
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.
Result 2024
€21,078
Gross operating margin
+€11,022
Staff costs
+€137,476
Depreciation
-€8,233
Write-downs
-€1,814
Other operating charges
-€1,691
Other operating items
+€2,610
Financial income
+€45,767
Financial charges
+€5,937
Taxes
-€52,675
Result 2025
€159,478
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€11,480
Investment
€0
Financing
-€8,309
Cash 2024
€17,952
From operations (derived)
+€11,480
Net result for the year
+€159,478
Depreciation
+€185,005
Stocks and contracts
+€75,284
Receivables within one year
+€6,093
Deferred charges and accrued income
-€19,692
Trade debts
-€440,623
Tax, wage and social debts
-€1,942
Advances received
-€43,632
Other debts
+€85,348
Accrued charges and deferred income
+€6,160
Financing
-€8,309
Debts after one year
-€54,745
Current portion of long-term debt
+€23,436
Short-term financial debts
+€173,000
Contributions, distributions and other
-€150,000
Cash 2025
€21,123
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,424,654 | €2,181,134 | -€243,520 | -10.0% |
| Formation expenses | 20 | €68,249 | €40,490 | -€27,759 | -40.7% |
| Fixed assets | 21/28 | €1,454,105 | €1,296,858 | -€157,247 | -10.8% |
| Intangible fixed assets | 21 | €438,962 | €352,862 | -€86,100 | -19.6% |
| Tangible fixed assets | 22/27 | €1,012,842 | €941,696 | -€71,147 | -7.0% |
| Land and buildings | 22 | €882,949 | €841,392 | -€41,557 | -4.7% |
| Plant, machinery and equipment | 23 | €1,223 | €306 | -€917 | -74.9% |
| Furniture and vehicles | 24 | €37,733 | €17,386 | -€20,347 | -53.9% |
| Other tangible fixed assets | 26 | €90,937 | €82,612 | -€8,326 | -9.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €902,300 | €843,786 | -€58,514 | -6.5% |
| Stocks and contracts in progress | 3 | €315,295 | €240,012 | -€75,284 | -23.9% |
| Stocks | 30/36 | €315,295 | €240,012 | -€75,284 | -23.9% |
| Amounts receivable within one year | 40/41 | €552,626 | €546,532 | -€6,093 | -1.1% |
| Trade receivables | 40 | €492,380 | €538,281 | +€45,901 | +9.3% |
| Other amounts receivable | 41 | €60,245 | €8,251 | -€51,994 | -86.3% |
| Cash at bank and in hand | 54/58 | €17,952 | €21,123 | +€3,171 | +17.7% |
| Deferred charges and accrued income | 490/1 | €16,427 | €36,119 | +€19,692 | +120% |
| Total equity and liabilities | 10/49 | €2,424,654 | €2,181,134 | -€243,520 | -10.0% |
| Equity | 10/15 | €172,921 | €182,399 | +€9,478 | +5.5% |
| Contributions | 10/11 | €600,300 | €600,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€427,379 | -€417,901 | +€9,478 | +2.2% |
| Amounts payable | 17/49 | €2,251,733 | €1,998,735 | -€252,997 | -11.2% |
| Amounts payable after more than one year | 17 | €483,628 | €428,884 | -€54,745 | -11.3% |
| Financial debts | 170/4 | €483,628 | €428,884 | -€54,745 | -11.3% |
| Amounts payable within one year | 42/48 | €1,734,856 | €1,530,444 | -€204,413 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €52,517 | €75,953 | +€23,436 | +44.6% |
| Financial debts | 43 | €495,000 | €668,000 | +€173,000 | +34.9% |
| Credit institutions | 430/8 | €495,000 | €668,000 | +€173,000 | +34.9% |
| Trade debts | 44 | €757,704 | €317,081 | -€440,623 | -58.2% |
| Suppliers | 440/4 | €757,704 | €317,081 | -€440,623 | -58.2% |
| Advances received on contracts in progress | 46 | €357,878 | €314,247 | -€43,632 | -12.2% |
| Taxes, remuneration and social security | 45 | €63,041 | €61,099 | -€1,942 | -3.1% |
| Taxes | 450/3 | €15,136 | €9,811 | -€5,325 | -35.2% |
| Remuneration and social security | 454/9 | €47,906 | €51,289 | +€3,383 | +7.1% |
| Other amounts payable | 47/48 | €8,716 | €94,064 | +€85,348 | +979% |
| Accrued charges and deferred income | 492/3 | €33,248 | €39,408 | +€6,160 | +18.5% |
| Non-recurring operating income | 76A | €1,191 | €2,236 | +€1,045 | +87.7% |
| Remuneration, social security and pensions | 62 | €860,697 | €723,221 | -€137,476 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,773 | €185,005 | +€8,233 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,814 | +€1,814 | |
| Other operating charges | 640/8 | €8,401 | €10,092 | +€1,691 | +20.1% |
| Non-recurring operating charges | 66A | €2,610 | €0 | -€2,610 | -100% |
| Gross operating margin | 9900 | €1,099,508 | €1,110,530 | +€11,022 | +1.0% |
| Operating profit (loss) | 9901 | €51,027 | €190,398 | +€139,371 | +273% |
| Financial income | 75/76B | €41,561 | €87,328 | +€45,767 | +110% |
| Recurring financial income | 75 | €41,561 | €87,328 | +€45,767 | +110% |
| Financial charges | 65/66B | €55,374 | €49,437 | -€5,937 | -10.7% |
| Recurring financial charges | 65 | €55,374 | €49,437 | -€5,937 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €37,214 | €228,288 | +€191,075 | +513% |
| Income taxes | 67/77 | €16,136 | €68,811 | +€52,675 | +326% |
| Profit (loss) for the period | 9904 | €21,078 | €159,478 | +€138,400 | +657% |
| Profit (loss) for the period to be appropriated | 9905 | €21,078 | €159,478 | +€138,400 | +657% |
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 16 October 2026 via checked.be.