KWADRAS: 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.
KWADRAS
Largest movements
- Cash +€5,646
up €5,646 (+12.3%), from €45,860 to €51,506
mainly Net result for the year (+€10,401) and Other debts (+€9,637)
- Receivables within one year -€1,180
down €1,180 (-41.9%), from €2,813 to €1,634
- Other debts +€9,637
up €9,637 (+309%), from €3,119 to €12,756
- Tax, wage and social debts -€6,021
down €6,021 (-37.2%), from €16,171 to €10,151
- Gross operating margin -€9,159
down €9,159 (-37.4%), from €24,489 to €15,330
- Taxes -€834
down €834 (-17.3%), from €4,823 to €3,989
- Depreciation +€519
up €519 (+1,604%), from €32 to €551
- Other operating charges +€403
up €403 (+168%), from €241 to €644
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 | €80,496 | €84,622 | +€4,125 | +5.1% |
| Fixed assets | 21/28 | €1,621 | €1,070 | -€551 | -34.0% |
| Tangible fixed assets | 22/27 | €1,621 | €1,070 | -€551 | -34.0% |
| Furniture and vehicles | 24 | €1,621 | €1,070 | -€551 | -34.0% |
| Current assets | 29/58 | €78,876 | €83,552 | +€4,676 | +5.9% |
| Amounts receivable within one year | 40/41 | €2,813 | €1,634 | -€1,180 | -41.9% |
| Trade receivables | 40 | €2,813 | €1,634 | -€1,180 | -41.9% |
| Current investments | 50/53 | €30,179 | €30,368 | +€189 | +0.6% |
| Cash at bank and in hand | 54/58 | €45,860 | €51,506 | +€5,646 | +12.3% |
| Deferred charges and accrued income | 490/1 | €23 | €44 | +€21 | +94.9% |
| Total equity and liabilities | 10/49 | €80,496 | €84,622 | +€4,125 | +5.1% |
| Equity | 10/15 | €60,527 | €60,928 | +€401 | +0.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €57,027 | €57,428 | +€401 | +0.7% |
| Distributable reserves | 133 | €57,027 | €57,428 | +€401 | +0.7% |
| Amounts payable | 17/49 | €19,969 | €23,693 | +€3,724 | +18.7% |
| Amounts payable within one year | 42/48 | €19,969 | €23,693 | +€3,724 | +18.7% |
| Trade debts | 44 | €678 | €787 | +€108 | +15.9% |
| Suppliers | 440/4 | €678 | €787 | +€108 | +15.9% |
| Taxes, remuneration and social security | 45 | €16,171 | €10,151 | -€6,021 | -37.2% |
| Taxes | 450/3 | €16,171 | €10,151 | -€6,021 | -37.2% |
| Other amounts payable | 47/48 | €3,119 | €12,756 | +€9,637 | +309% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32 | €551 | +€519 | +1,604% |
| Other operating charges | 640/8 | €241 | €644 | +€403 | +168% |
| Gross operating margin | 9900 | €24,489 | €15,330 | -€9,159 | -37.4% |
| Operating profit (loss) | 9901 | €24,216 | €14,135 | -€10,081 | -41.6% |
| Financial income | 75/76B | €202 | €371 | +€168 | +83.1% |
| Recurring financial income | 75 | €202 | €371 | +€168 | +83.1% |
| Financial charges | 65/66B | €60 | €116 | +€56 | +93.1% |
| Recurring financial charges | 65 | €60 | €116 | +€56 | +93.1% |
| Profit (loss) for the period before taxes | 9903 | €24,358 | €14,390 | -€9,969 | -40.9% |
| Income taxes | 67/77 | €4,823 | €3,989 | -€834 | -17.3% |
| Profit (loss) for the period | 9904 | €19,535 | €10,401 | -€9,135 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,535 | €10,401 | -€9,135 | -46.8% |
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.