NOIR QUADRI: 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.
NOIR QUADRI
Largest movements
- Receivables within one year +€6,779
up €6,779 (+195%), from €3,468 to €10,247
of which Trade receivables: +€7,882
- Cash +€6,454
up €6,454 (+24.9%), from €25,939 to €32,393
mainly Net result for the year (+€20,186) and Depreciation (+€3,266)
- Tangible fixed assets -€3,266
down €3,266 (-43.1%), from €7,578 to €4,313
- Profit (loss) carried forward +€20,186
up €20,186 (+52.9%), from -€38,146 to -€17,960
- Tax, wage and social debts -€5,545
down €5,545 (-25.1%), from €22,066 to €16,521
of which Remuneration and social security: -€3,208
- Trade debts -€4,641
down €4,641 (-80.9%), from €5,738 to €1,098
- Gross operating margin +€6,517
up €6,517 (+25.8%), from €25,283 to €31,800
- Taxes +€3,106
up €3,106 (+69.3%), from €4,481 to €7,587
- Depreciation +€803
up €803 (+32.6%), from €2,462 to €3,266
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 | €37,848 | €47,862 | +€10,014 | +26.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,578 | €4,313 | -€3,266 | -43.1% |
| Tangible fixed assets | 22/27 | €7,578 | €4,313 | -€3,266 | -43.1% |
| Furniture and vehicles | 24 | €7,578 | €4,313 | -€3,266 | -43.1% |
| Current assets | 29/58 | €30,270 | €43,549 | +€13,279 | +43.9% |
| Amounts receivable within one year | 40/41 | €3,468 | €10,247 | +€6,779 | +195% |
| Trade receivables | 40 | €121 | €8,003 | +€7,882 | +6,514% |
| Other amounts receivable | 41 | €3,347 | €2,244 | -€1,103 | -33.0% |
| Cash at bank and in hand | 54/58 | €25,939 | €32,393 | +€6,454 | +24.9% |
| Deferred charges and accrued income | 490/1 | €862 | €909 | +€46 | +5.4% |
| Total equity and liabilities | 10/49 | €37,848 | €47,862 | +€10,014 | +26.5% |
| Equity | 10/15 | -€19,956 | €230 | +€20,186 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,790 | €5,790 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,930 | €3,930 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,146 | -€17,960 | +€20,186 | +52.9% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €27,804 | €17,632 | -€10,172 | -36.6% |
| Amounts payable within one year | 42/48 | €27,804 | €17,619 | -€10,186 | -36.6% |
| Trade debts | 44 | €5,738 | €1,098 | -€4,641 | -80.9% |
| Suppliers | 440/4 | €5,738 | €1,098 | -€4,641 | -80.9% |
| Taxes, remuneration and social security | 45 | €22,066 | €16,521 | -€5,545 | -25.1% |
| Taxes | 450/3 | €6,030 | €3,694 | -€2,337 | -38.7% |
| Remuneration and social security | 454/9 | €16,036 | €12,827 | -€3,208 | -20.0% |
| Accrued charges and deferred income | 492/3 | €0 | €14 | +€14 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,462 | €3,266 | +€803 | +32.6% |
| Other operating charges | 640/8 | €739 | €828 | +€89 | +12.0% |
| Non-recurring operating charges | 66A | €2,918 | - | -€2,918 | |
| Gross operating margin | 9900 | €25,283 | €31,800 | +€6,517 | +25.8% |
| Operating profit (loss) | 9901 | €19,164 | €27,707 | +€8,543 | +44.6% |
| Financial income | 75/76B | €71 | €190 | +€119 | +168% |
| Recurring financial income | 75 | €71 | €190 | +€119 | +168% |
| Financial charges | 65/66B | €125 | €125 | = | 0.0% |
| Recurring financial charges | 65 | €125 | €125 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €19,110 | €27,772 | +€8,662 | +45.3% |
| Income taxes | 67/77 | €4,481 | €7,587 | +€3,106 | +69.3% |
| Profit (loss) for the period | 9904 | €14,629 | €20,186 | +€5,557 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,629 | €20,186 | +€5,557 | +38.0% |
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 19 October 2026 via checked.be.