QUADFUN: 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.
QUADFUN
Largest movements
- Stocks and contracts +€42,978
up €42,978 (+17.6%), from €244,340 to €287,318
- Receivables within one year -€27,917
down €27,917 (-58.0%), from €48,112 to €20,195
of which Trade receivables: -€28,359
- Tangible fixed assets -€18,319
down €18,319 (-9.7%), from €189,317 to €170,998
of which Land and buildings: -€20,994
- Other debts +€19,670
up €19,670 (+79.5%), from €24,744 to €44,414
- Tax, wage and social debts -€12,690
down €12,690 (-62.7%), from €20,231 to €7,541
- Debts after one year -€11,006
down €11,006 (-3.9%), from €285,842 to €274,835
- Short-term financial debts -€6,748
down €6,748 (-70.3%), from €9,594 to €2,846
- Gross operating margin -€4,563
down €4,563 (-10.2%), from €44,667 to €40,104
- Depreciation +€1,507
up €1,507 (+6.4%), from €23,391 to €24,898
- Financial charges -€1,458
down €1,458 (-16.7%), from €8,713 to €7,255
- Taxes -€1,104
down €1,104 (-56.7%), from €1,946 to €842
- Other operating charges +€770
up €770 (+43.0%), from €1,792 to €2,562
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 | €489,054 | €485,561 | -€3,493 | -0.7% |
| Fixed assets | 21/28 | €193,159 | €174,840 | -€18,319 | -9.5% |
| Tangible fixed assets | 22/27 | €189,317 | €170,998 | -€18,319 | -9.7% |
| Land and buildings | 22 | €180,223 | €159,229 | -€20,994 | -11.6% |
| Plant, machinery and equipment | 23 | €9,094 | €11,769 | +€2,675 | +29.4% |
| Financial fixed assets | 28 | €3,842 | €3,842 | = | 0.0% |
| Current assets | 29/58 | €295,895 | €310,721 | +€14,826 | +5.0% |
| Stocks and contracts in progress | 3 | €244,340 | €287,318 | +€42,978 | +17.6% |
| Stocks | 30/36 | €244,340 | €287,318 | +€42,978 | +17.6% |
| Amounts receivable within one year | 40/41 | €48,112 | €20,195 | -€27,917 | -58.0% |
| Trade receivables | 40 | €48,014 | €19,655 | -€28,359 | -59.1% |
| Other amounts receivable | 41 | €98 | €540 | +€442 | +452.9% |
| Cash at bank and in hand | 54/58 | €3,443 | €3,208 | -€235 | -6.8% |
| Total equity and liabilities | 10/49 | €489,054 | €485,561 | -€3,493 | -0.7% |
| Equity | 10/15 | €63,666 | €67,245 | +€3,579 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,206 | €46,785 | +€3,579 | +8.3% |
| Amounts payable | 17/49 | €425,388 | €418,316 | -€7,072 | -1.7% |
| Amounts payable after more than one year | 17 | €285,842 | €274,835 | -€11,006 | -3.9% |
| Financial debts | 170/4 | €285,842 | €274,835 | -€11,006 | -3.9% |
| Amounts payable within one year | 42/48 | €139,546 | €143,481 | +€3,935 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €10,835 | €11,006 | +€172 | +1.6% |
| Financial debts | 43 | €9,594 | €2,846 | -€6,748 | -70.3% |
| Credit institutions | 430/8 | €9,594 | €2,846 | -€6,748 | -70.3% |
| Trade debts | 44 | €74,143 | €77,674 | +€3,531 | +4.8% |
| Suppliers | 440/4 | €74,143 | €77,674 | +€3,531 | +4.8% |
| Taxes, remuneration and social security | 45 | €20,231 | €7,541 | -€12,690 | -62.7% |
| Taxes | 450/3 | €20,231 | €7,541 | -€12,690 | -62.7% |
| Other amounts payable | 47/48 | €24,744 | €44,414 | +€19,670 | +79.5% |
| Remuneration, social security and pensions | 62 | €1,281 | €1,740 | +€459 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,391 | €24,898 | +€1,507 | +6.4% |
| Other operating charges | 640/8 | €1,792 | €2,562 | +€770 | +43.0% |
| Gross operating margin | 9900 | €44,667 | €40,104 | -€4,563 | -10.2% |
| Operating profit (loss) | 9901 | €18,203 | €10,904 | -€7,300 | -40.1% |
| Financial income | 75/76B | €57 | €772 | +€715 | +1257.7% |
| Recurring financial income | 75 | €57 | €772 | +€715 | +1257.7% |
| Financial charges | 65/66B | €8,713 | €7,255 | -€1,458 | -16.7% |
| Recurring financial charges | 65 | €8,713 | €7,255 | -€1,458 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €9,548 | €4,421 | -€5,127 | -53.7% |
| Income taxes | 67/77 | €1,946 | €842 | -€1,104 | -56.7% |
| Profit (loss) for the period | 9904 | €7,602 | €3,579 | -€4,023 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,602 | €3,579 | -€4,023 | -52.9% |
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.