QUA3: 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.
QUA3
Largest movements
- Tangible fixed assets -€7,409
down €7,409 (-2.1%), from €356,016 to €348,607
of which Land and buildings: -€8,170
- Receivables within one year +€5,618
up €5,618 (+66.3%), from €8,479 to €14,097
of which Trade receivables: +€5,356
- Debts after one year -€24,337
down €24,337 (-26.5%), from €91,863 to €67,526
- Reserves +€23,754
up €23,754 (+18.7%), from €126,758 to €150,512
of which Distributable reserves: +€26,000
- Gross operating margin +€7,923
up €7,923 (+18.8%), from €42,180 to €50,103
- Taxes +€5,072
up €5,072 (+62.9%), from €8,063 to €13,135
- Financial charges -€808
down €808 (-14.1%), from €5,719 to €4,911
- Depreciation +€692
up €692 (+4.8%), from €14,474 to €15,167
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 | €450,521 | €448,189 | -€2,332 | -0.5% |
| Fixed assets | 21/28 | €356,016 | €348,607 | -€7,409 | -2.1% |
| Tangible fixed assets | 22/27 | €356,016 | €348,607 | -€7,409 | -2.1% |
| Land and buildings | 22 | €334,015 | €325,846 | -€8,170 | -2.4% |
| Plant, machinery and equipment | 23 | €103 | €720 | +€617 | +597% |
| Furniture and vehicles | 24 | €11,333 | €11,476 | +€144 | +1.3% |
| Other tangible fixed assets | 26 | €10,565 | €10,565 | = | 0.0% |
| Current assets | 29/58 | €94,505 | €99,582 | +€5,077 | +5.4% |
| Amounts receivable within one year | 40/41 | €8,479 | €14,097 | +€5,618 | +66.3% |
| Trade receivables | 40 | €7,495 | €12,851 | +€5,356 | +71.5% |
| Other amounts receivable | 41 | €983 | €1,246 | +€262 | +26.7% |
| Cash at bank and in hand | 54/58 | €82,038 | €81,714 | -€324 | -0.4% |
| Deferred charges and accrued income | 490/1 | €3,989 | €3,772 | -€217 | -5.4% |
| Total equity and liabilities | 10/49 | €450,521 | €448,189 | -€2,332 | -0.5% |
| Equity | 10/15 | €219,468 | €243,222 | +€23,754 | +10.8% |
| Contributions | 10/11 | €43,563 | €43,563 | = | 0.0% |
| Reserves | 13 | €126,758 | €150,512 | +€23,754 | +18.7% |
| Tax-exempt reserves | 132 | €57,340 | €55,093 | -€2,246 | -3.9% |
| Distributable reserves | 133 | €69,418 | €95,418 | +€26,000 | +37.5% |
| Profit (loss) carried forward | 14 | €49,147 | €49,147 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €38,227 | €36,729 | -€1,498 | -3.9% |
| Deferred taxes | 168 | €38,227 | €36,729 | -€1,498 | -3.9% |
| Amounts payable | 17/49 | €192,826 | €168,238 | -€24,588 | -12.8% |
| Amounts payable after more than one year | 17 | €91,863 | €67,526 | -€24,337 | -26.5% |
| Financial debts | 170/4 | €91,863 | €67,526 | -€24,337 | -26.5% |
| Amounts payable within one year | 42/48 | €98,223 | €98,467 | +€244 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €23,865 | €24,337 | +€472 | +2.0% |
| Trade debts | 44 | €35,548 | €36,373 | +€825 | +2.3% |
| Suppliers | 440/4 | €35,548 | €36,373 | +€825 | +2.3% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,232 | €6,245 | +€1,013 | +19.4% |
| Taxes | 450/3 | €5,232 | €6,245 | +€1,013 | +19.4% |
| Other amounts payable | 47/48 | €33,578 | €31,513 | -€2,065 | -6.2% |
| Accrued charges and deferred income | 492/3 | €2,740 | €2,245 | -€495 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,474 | €15,167 | +€692 | +4.8% |
| Other operating charges | 640/8 | €1,804 | €1,834 | +€30 | +1.6% |
| Gross operating margin | 9900 | €42,180 | €50,103 | +€7,923 | +18.8% |
| Operating profit (loss) | 9901 | €25,902 | €33,102 | +€7,201 | +27.8% |
| Financial income | 75/76B | €7,200 | €7,200 | -€0 | 0.0% |
| Recurring financial income | 75 | €7,200 | €7,200 | -€0 | 0.0% |
| Financial charges | 65/66B | €5,719 | €4,911 | -€808 | -14.1% |
| Recurring financial charges | 65 | €5,719 | €4,911 | -€808 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €27,382 | €35,391 | +€8,008 | +29.2% |
| Transfer from deferred taxes | 780 | €1,498 | €1,498 | = | 0.0% |
| Income taxes | 67/77 | €8,063 | €13,135 | +€5,072 | +62.9% |
| Profit (loss) for the period | 9904 | €20,817 | €23,754 | +€2,937 | +14.1% |
| Transfer from tax-exempt reserves | 789 | €2,246 | €2,246 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,064 | €26,000 | +€2,937 | +12.7% |
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 22 October 2026 via checked.be.