QARTZ: 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.
QARTZ
Largest movements
- Stocks and contracts +€31,008
up €31,008 (+49.1%), from €63,103 to €94,111
- Receivables within one year -€20,354
down €20,354 (-70.8%), from €28,756 to €8,402
- Cash +€6,133
up €6,133 (+24.6%), from €24,962 to €31,095
mainly Other debts (+€45,803) and Receivables within one year (+€20,354)
- Tangible fixed assets +€4,964
up €4,964 (+28.7%), from €17,317 to €22,281
of which Other tangible fixed assets: +€2,984
- Reserves +€53,321
new in 2025: €53,321
- Profit (loss) carried forward -€49,329
down €49,329 (-100.0%), from €49,329 to €0
- Other debts +€45,803
up €45,803 (+27354.7%), from €167 to €45,970
- Debts after one year -€25,500
down €25,500 (-100.0%), from €25,500 to €0
- Trade debts -€3,171
down €3,171 (-10.4%), from €30,353 to €27,181
- Gross operating margin +€19,666
up €19,666 (+353.0%), from €5,571 to €25,237
- Staff costs +€7,088
new in 2025: €7,088
- Financial charges +€3,719
up €3,719 (+1186.7%), from €313 to €4,033
- Taxes +€3,004
up €3,004 (+541.6%), from €555 to €3,559
- Other operating charges +€2,246
up €2,246 (+275.3%), from €816 to €3,062
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 | €135,570 | €157,506 | +€21,936 | +16.2% |
| Fixed assets | 21/28 | €17,828 | €22,617 | +€4,789 | +26.9% |
| Intangible fixed assets | 21 | €511 | €336 | -€175 | -34.3% |
| Tangible fixed assets | 22/27 | €17,317 | €22,281 | +€4,964 | +28.7% |
| Plant, machinery and equipment | 23 | €7,734 | €8,270 | +€536 | +6.9% |
| Furniture and vehicles | 24 | €1,840 | €3,284 | +€1,444 | +78.5% |
| Other tangible fixed assets | 26 | €7,743 | €10,727 | +€2,984 | +38.5% |
| Current assets | 29/58 | €117,742 | €134,890 | +€17,147 | +14.6% |
| Stocks and contracts in progress | 3 | €63,103 | €94,111 | +€31,008 | +49.1% |
| Stocks | 30/36 | €63,103 | €94,111 | +€31,008 | +49.1% |
| Amounts receivable within one year | 40/41 | €28,756 | €8,402 | -€20,354 | -70.8% |
| Trade receivables | 40 | €28,756 | €8,402 | -€20,354 | -70.8% |
| Cash at bank and in hand | 54/58 | €24,962 | €31,095 | +€6,133 | +24.6% |
| Deferred charges and accrued income | 490/1 | €921 | €1,282 | +€361 | +39.2% |
| Total equity and liabilities | 10/49 | €135,570 | €157,506 | +€21,936 | +16.2% |
| Equity | 10/15 | €67,879 | €71,871 | +€3,992 | +5.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | - | €53,321 | +€53,321 | |
| Distributable reserves | 133 | - | €53,321 | +€53,321 | |
| Profit (loss) carried forward | 14 | €49,329 | €0 | -€49,329 | -100.0% |
| Amounts payable | 17/49 | €67,691 | €85,636 | +€17,945 | +26.5% |
| Amounts payable after more than one year | 17 | €25,500 | €0 | -€25,500 | -100.0% |
| Financial debts | 170/4 | €25,500 | €0 | -€25,500 | -100.0% |
| Amounts payable within one year | 42/48 | €42,191 | €85,422 | +€43,231 | +102.5% |
| Trade debts | 44 | €30,353 | €27,181 | -€3,171 | -10.4% |
| Suppliers | 440/4 | €30,353 | €27,181 | -€3,171 | -10.4% |
| Taxes, remuneration and social security | 45 | €11,671 | €12,270 | +€599 | +5.1% |
| Taxes | 450/3 | €11,671 | €11,315 | -€356 | -3.1% |
| Remuneration and social security | 454/9 | - | €955 | +€955 | |
| Other amounts payable | 47/48 | €167 | €45,970 | +€45,803 | +27354.7% |
| Accrued charges and deferred income | 492/3 | €0 | €214 | +€214 | |
| Remuneration, social security and pensions | 62 | - | €7,088 | +€7,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,112 | €3,564 | +€1,452 | +68.7% |
| Other operating charges | 640/8 | €816 | €3,062 | +€2,246 | +275.3% |
| Gross operating margin | 9900 | €5,571 | €25,237 | +€19,666 | +353.0% |
| Operating profit (loss) | 9901 | €2,643 | €11,524 | +€8,881 | +336.0% |
| Financial income | 75/76B | €37 | €59 | +€23 | +61.8% |
| Recurring financial income | 75 | €37 | €59 | +€23 | +61.8% |
| Financial charges | 65/66B | €313 | €4,033 | +€3,719 | +1186.7% |
| Recurring financial charges | 65 | €313 | €4,033 | +€3,719 | +1186.7% |
| Profit (loss) for the period before taxes | 9903 | €2,366 | €7,550 | +€5,184 | +219.1% |
| Income taxes | 67/77 | €555 | €3,559 | +€3,004 | +541.6% |
| Profit (loss) for the period | 9904 | €1,812 | €3,992 | +€2,180 | +120.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,812 | €3,992 | +€2,180 | +120.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.