LE QUARTO: 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.
LE QUARTO
Largest movements
- Tangible fixed assets +€103,383
up €103,383 (+15.5%), from €668,010 to €771,393
of which Plant, machinery and equipment: +€117,393
- Cash +€35,594
up €35,594 (+183.3%), from €19,418 to €55,012
mainly Trade debts (+€103,196) and Net result for the year (+€49,660)
- Intangible fixed assets -€9,950
down €9,950 (-48.2%), from €20,647 to €10,697
- Trade debts +€103,196
up €103,196 (+632.2%), from €16,324 to €119,520
- Profit (loss) carried forward +€49,660
up €49,660 (+333.9%), from €14,872 to €64,532
- Debts after one year -€48,495
down €48,495 (-10.1%), from €478,238 to €429,743
- Tax, wage and social debts +€18,573
up €18,573 (+326.4%), from €5,690 to €24,263
of which Taxes: +€11,568
- Accrued charges and deferred income +€10,476
up €10,476 (+221.8%), from €4,722 to €15,198
- Gross operating margin +€111,552
up €111,552 (+165.7%), from €67,318 to €178,870
- Staff costs +€35,476
up €35,476 (+283.8%), from €12,501 to €47,978
- Taxes +€18,084
up €18,084 (+4273.3%), from €423 to €18,507
- Depreciation +€13,305
up €13,305 (+40.6%), from €32,753 to €46,058
- Other operating charges -€5,099
down €5,099 (-80.1%), from €6,364 to €1,265
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 | €733,953 | €862,916 | +€128,963 | +17.6% |
| Fixed assets | 21/28 | €690,092 | €783,525 | +€93,433 | +13.5% |
| Intangible fixed assets | 21 | €20,647 | €10,697 | -€9,950 | -48.2% |
| Tangible fixed assets | 22/27 | €668,010 | €771,393 | +€103,383 | +15.5% |
| Land and buildings | 22 | €413,399 | €422,675 | +€9,276 | +2.2% |
| Plant, machinery and equipment | 23 | €34,010 | €151,403 | +€117,393 | +345.2% |
| Furniture and vehicles | 24 | €38,239 | €28,306 | -€9,933 | -26.0% |
| Other tangible fixed assets | 26 | €182,361 | €169,009 | -€13,352 | -7.3% |
| Financial fixed assets | 28 | €1,435 | €1,435 | = | 0.0% |
| Current assets | 29/58 | €43,861 | €79,392 | +€35,530 | +81.0% |
| Amounts receivable within one year | 40/41 | €16,266 | €15,932 | -€334 | -2.1% |
| Trade receivables | 40 | €4,986 | €4,316 | -€671 | -13.4% |
| Other amounts receivable | 41 | €11,279 | €11,616 | +€337 | +3.0% |
| Current investments | 50/53 | €3,370 | €3,370 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,418 | €55,012 | +€35,594 | +183.3% |
| Deferred charges and accrued income | 490/1 | €4,808 | €5,078 | +€270 | +5.6% |
| Total equity and liabilities | 10/49 | €733,953 | €862,916 | +€128,963 | +17.6% |
| Equity | 10/15 | €109,365 | €159,025 | +€49,660 | +45.4% |
| Contributions | 10/11 | €22,493 | €22,493 | = | 0.0% |
| Reserves | 13 | €72,000 | €72,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €72,000 | €72,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,872 | €64,532 | +€49,660 | +333.9% |
| Amounts payable | 17/49 | €624,588 | €703,891 | +€79,303 | +12.7% |
| Amounts payable after more than one year | 17 | €478,238 | €429,743 | -€48,495 | -10.1% |
| Financial debts | 170/4 | €478,238 | €429,743 | -€48,495 | -10.1% |
| Amounts payable within one year | 42/48 | €141,628 | €258,950 | +€117,322 | +82.8% |
| Current portion of amounts payable after more than one year | 42 | €47,326 | €48,495 | +€1,169 | +2.5% |
| Trade debts | 44 | €16,324 | €119,520 | +€103,196 | +632.2% |
| Suppliers | 440/4 | €16,324 | €119,520 | +€103,196 | +632.2% |
| Taxes, remuneration and social security | 45 | €5,690 | €24,263 | +€18,573 | +326.4% |
| Taxes | 450/3 | €834 | €12,402 | +€11,568 | +1386.7% |
| Remuneration and social security | 454/9 | €4,856 | €11,861 | +€7,006 | +144.3% |
| Other amounts payable | 47/48 | €72,287 | €66,671 | -€5,616 | -7.8% |
| Accrued charges and deferred income | 492/3 | €4,722 | €15,198 | +€10,476 | +221.8% |
| Remuneration, social security and pensions | 62 | €12,501 | €47,978 | +€35,476 | +283.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,753 | €46,058 | +€13,305 | +40.6% |
| Other operating charges | 640/8 | €6,364 | €1,265 | -€5,099 | -80.1% |
| Gross operating margin | 9900 | €67,318 | €178,870 | +€111,552 | +165.7% |
| Operating profit (loss) | 9901 | €15,699 | €83,569 | +€67,870 | +432.3% |
| Financial income | 75/76B | €0 | €78 | +€78 | |
| Recurring financial income | 75 | €0 | €78 | +€78 | |
| Financial charges | 65/66B | €12,174 | €15,481 | +€3,307 | +27.2% |
| Recurring financial charges | 65 | €12,174 | €15,481 | +€3,307 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €3,526 | €68,167 | +€64,641 | +1833.5% |
| Income taxes | 67/77 | €423 | €18,507 | +€18,084 | +4273.3% |
| Profit (loss) for the period | 9904 | €3,102 | €49,660 | +€46,558 | +1500.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,102 | €49,660 | +€46,558 | +1500.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.