QD4: 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.
QD4
Largest movements
- Cash +€29,734
up €29,734 (+2652.0%), from €1,121 to €30,855
mainly Net result for the year (+€24,434) and Depreciation (+€23,011)
- Tangible fixed assets -€23,011
down €23,011 (-4.5%), from €509,186 to €486,175
of which Land and buildings: -€22,277
- Receivables within one year +€6,775
up €6,775 (+197.8%), from €3,426 to €10,201
- Profit (loss) carried forward +€24,434
up €24,434 (+40.0%), from -€61,034 to -€36,600
- Debts after one year -€10,836
down €10,836 (-6.0%), from €180,352 to €169,516
- Gross operating margin +€78,642
up €78,642, from -€18,874 to €59,768
- Purchases and services -€61,596
down €61,596 (-52.2%), from €118,006 to €56,411
- Turnover -€33,152
down €33,152 (-33.4%), from €99,132 to €65,980
- Depreciation -€7,134
down €7,134 (-23.7%), from €30,145 to €23,011
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 | €514,818 | €527,312 | +€12,494 | +2.4% |
| Fixed assets | 21/28 | €509,186 | €486,175 | -€23,011 | -4.5% |
| Tangible fixed assets | 22/27 | €509,186 | €486,175 | -€23,011 | -4.5% |
| Land and buildings | 22 | €502,042 | €479,765 | -€22,277 | -4.4% |
| Plant, machinery and equipment | 23 | €7,144 | €6,410 | -€734 | -10.3% |
| Current assets | 29/58 | €5,633 | €41,137 | +€35,505 | +630.3% |
| Amounts receivable within one year | 40/41 | €3,426 | €10,201 | +€6,775 | +197.8% |
| Trade receivables | 40 | €3,426 | €10,201 | +€6,775 | +197.8% |
| Cash at bank and in hand | 54/58 | €1,121 | €30,855 | +€29,734 | +2652.0% |
| Deferred charges and accrued income | 490/1 | €1,086 | €81 | -€1,004 | -92.5% |
| Total equity and liabilities | 10/49 | €514,818 | €527,312 | +€12,494 | +2.4% |
| Equity | 10/15 | -€11,034 | €13,400 | +€24,434 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,034 | -€36,600 | +€24,434 | +40.0% |
| Amounts payable | 17/49 | €525,852 | €513,912 | -€11,940 | -2.3% |
| Amounts payable after more than one year | 17 | €180,352 | €169,516 | -€10,836 | -6.0% |
| Financial debts | 170/4 | €180,352 | €169,516 | -€10,836 | -6.0% |
| Amounts payable within one year | 42/48 | €343,500 | €343,596 | +€96 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €10,430 | €10,836 | +€406 | +3.9% |
| Trade debts | 44 | €7,062 | €4,077 | -€2,985 | -42.3% |
| Suppliers | 440/4 | €7,062 | €4,077 | -€2,985 | -42.3% |
| Taxes, remuneration and social security | 45 | €1,008 | €3,683 | +€2,675 | +265.4% |
| Taxes | 450/3 | €1,008 | €3,683 | +€2,675 | +265.4% |
| Other amounts payable | 47/48 | €325,000 | €325,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €800 | -€1,200 | -60.0% |
| Turnover | 70 | €99,132 | €65,980 | -€33,152 | -33.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €118,006 | €56,411 | -€61,596 | -52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,145 | €23,011 | -€7,134 | -23.7% |
| Other operating charges | 640/8 | €5,374 | €5,078 | -€296 | -5.5% |
| Gross operating margin | 9900 | -€18,874 | €59,768 | +€78,642 | |
| Operating profit (loss) | 9901 | -€54,393 | €31,679 | +€86,072 | |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €6,641 | €7,278 | +€638 | +9.6% |
| Recurring financial charges | 65 | €6,641 | €7,278 | +€638 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | -€61,034 | €24,434 | +€85,468 | |
| Profit (loss) for the period | 9904 | -€61,034 | €24,434 | +€85,468 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,034 | €24,434 | +€85,468 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.