MARKQUEST: what changed
Two fiscal 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.
MARKQUEST
Largest movements
- Cash -€43,790
down €43,790 (-44.1%), from €99,215 to €55,425
mainly Receivables within one year (-€30,621) and Current investments (-€26,853)
- Receivables within one year +€30,621
up €30,621 (+78.7%), from €38,932 to €69,553
of which Trade receivables: +€30,198
- Current investments +€26,853
up €26,853 (+9.0%), from €297,296 to €324,148
- Reserves +€16,854
up €16,854 (+5.1%), from €332,200 to €349,055
- Tax, wage and social debts -€15,529
down €15,529 (-72.6%), from €21,394 to €5,865
- Other debts +€14,470
up €14,470 (+43.3%), from €33,441 to €47,911
- Trade debts -€5,664
down €5,664 (-21.8%), from €25,988 to €20,324
- Gross operating margin -€52,147
down €52,147 (-62.2%), from €83,854 to €31,707
- Financial charges +€16,498
up €16,498, from -€6,019 to €10,479
- Taxes -€13,322
down €13,322 (-53.9%), from €24,707 to €11,386
- Financial income +€3,808
up €3,808 (+48.4%), from €7,870 to €11,678
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 | €453,956 | €464,930 | +€10,974 | +2.4% |
| Fixed assets | 21/28 | €11,689 | €9,683 | -€2,006 | -17.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €11,689 | €9,683 | -€2,006 | -17.2% |
| Furniture and vehicles | 24 | €2,930 | €2,388 | -€541 | -18.5% |
| Other tangible fixed assets | 26 | €8,759 | €7,295 | -€1,465 | -16.7% |
| Current assets | 29/58 | €442,267 | €455,247 | +€12,980 | +2.9% |
| Amounts receivable within one year | 40/41 | €38,932 | €69,553 | +€30,621 | +78.7% |
| Trade receivables | 40 | €38,914 | €69,112 | +€30,198 | +77.6% |
| Other amounts receivable | 41 | €18 | €441 | +€423 | +2344.5% |
| Current investments | 50/53 | €297,296 | €324,148 | +€26,853 | +9.0% |
| Cash at bank and in hand | 54/58 | €99,215 | €55,425 | -€43,790 | -44.1% |
| Deferred charges and accrued income | 490/1 | €6,824 | €6,120 | -€703 | -10.3% |
| Total equity and liabilities | 10/49 | €453,956 | €464,930 | +€10,974 | +2.4% |
| Equity | 10/15 | €372,370 | €389,224 | +€16,854 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €332,200 | €349,055 | +€16,854 | +5.1% |
| Distributable reserves | 133 | €332,200 | €349,055 | +€16,854 | +5.1% |
| Profit (loss) carried forward | 14 | €33,969 | €33,969 | = | 0.0% |
| Amounts payable | 17/49 | €81,586 | €75,706 | -€5,880 | -7.2% |
| Amounts payable within one year | 42/48 | €81,586 | €75,706 | -€5,880 | -7.2% |
| Financial debts | 43 | €763 | €1,605 | +€842 | +110.4% |
| Credit institutions | 430/8 | €763 | €1,605 | +€842 | +110.4% |
| Trade debts | 44 | €25,988 | €20,324 | -€5,664 | -21.8% |
| Suppliers | 440/4 | €25,988 | €20,324 | -€5,664 | -21.8% |
| Taxes, remuneration and social security | 45 | €21,394 | €5,865 | -€15,529 | -72.6% |
| Taxes | 450/3 | €21,394 | €5,865 | -€15,529 | -72.6% |
| Other amounts payable | 47/48 | €33,441 | €47,911 | +€14,470 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,982 | €3,855 | -€127 | -3.2% |
| Other operating charges | 640/8 | €485 | €501 | +€16 | +3.2% |
| Non-recurring operating charges | 66A | €155 | €311 | +€156 | +100.4% |
| Gross operating margin | 9900 | €83,854 | €31,707 | -€52,147 | -62.2% |
| Operating profit (loss) | 9901 | €79,233 | €27,041 | -€52,192 | -65.9% |
| Financial income | 75/76B | €7,870 | €11,678 | +€3,808 | +48.4% |
| Recurring financial income | 75 | €7,870 | €11,678 | +€3,808 | +48.4% |
| Financial charges | 65/66B | -€6,019 | €10,479 | +€16,498 | |
| Recurring financial charges | 65 | -€6,019 | €10,479 | +€16,498 | |
| Profit (loss) for the period before taxes | 9903 | €93,122 | €28,240 | -€64,882 | -69.7% |
| Income taxes | 67/77 | €24,707 | €11,386 | -€13,322 | -53.9% |
| Profit (loss) for the period | 9904 | €68,414 | €16,854 | -€51,560 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,414 | €16,854 | -€51,560 | -75.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.