Quadrafin: 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.
Quadrafin
Largest movements
- Receivables after one year -€169,246
down €169,246 (-93.5%), from €181,062 to €11,816
- Cash +€93,511
up €93,511 (+281.6%), from €33,204 to €126,715
mainly Receivables after one year (+€169,246) and Net result for the year (+€54,386)
- Financial fixed assets +€59,583
up €59,583 (+19.5%), from €305,367 to €364,950
- Receivables within one year +€24,674
up €24,674 (+171.7%), from €14,374 to €39,048
of which Trade receivables: +€24,968
- Deferred charges and accrued income +€6,309
up €6,309 (+113.3%), from €5,568 to €11,877
- Debts after one year -€58,215
down €58,215 (-98.9%), from €58,884 to €669
- Reserves +€54,386
up €54,386 (+18.5%), from €294,650 to €349,036
of which Distributable reserves: +€54,386
- Tax, wage and social debts +€19,729
up €19,729 (+906.8%), from €2,176 to €21,904
- Financial income +€43,308
up €43,308 (+321.8%), from €13,457 to €56,766
of which Non-recurring financial income: +€37,000
- Gross operating margin +€18,614
up €18,614 (+1009.7%), from €1,844 to €20,458
- Taxes +€17,378
up €17,378 (+171207.1%), from €10 to €17,388
- Financial charges -€1,307
down €1,307 (-21.8%), from €5,997 to €4,690
of which Financial charges: -€1,307
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 | €540,242 | €554,842 | +€14,600 | +2.7% |
| Fixed assets | 21/28 | €306,035 | €365,387 | +€59,352 | +19.4% |
| Tangible fixed assets | 22/27 | €668 | €437 | -€231 | -34.6% |
| Furniture and vehicles | 24 | €668 | €437 | -€231 | -34.6% |
| Financial fixed assets | 28 | €305,367 | €364,950 | +€59,583 | +19.5% |
| Current assets | 29/58 | €234,207 | €189,455 | -€44,752 | -19.1% |
| Amounts receivable after more than one year | 29 | €181,062 | €11,816 | -€169,246 | -93.5% |
| Other amounts receivable | 291 | €181,062 | €11,816 | -€169,246 | -93.5% |
| Amounts receivable within one year | 40/41 | €14,374 | €39,048 | +€24,674 | +171.7% |
| Trade receivables | 40 | €6,277 | €31,245 | +€24,968 | +397.8% |
| Other amounts receivable | 41 | €8,097 | €7,803 | -€294 | -3.6% |
| Cash at bank and in hand | 54/58 | €33,204 | €126,715 | +€93,511 | +281.6% |
| Deferred charges and accrued income | 490/1 | €5,568 | €11,877 | +€6,309 | +113.3% |
| Total equity and liabilities | 10/49 | €540,242 | €554,842 | +€14,600 | +2.7% |
| Equity | 10/15 | €454,357 | €508,743 | +€54,386 | +12.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €294,650 | €349,036 | +€54,386 | +18.5% |
| Non-distributable reserves | 130/1 | €6,899 | €6,899 | = | 0.0% |
| Legal reserve | 130 | €6,899 | €6,899 | = | 0.0% |
| Distributable reserves | 133 | €287,751 | €342,137 | +€54,386 | +18.9% |
| Profit (loss) carried forward | 14 | €98,207 | €98,207 | = | 0.0% |
| Amounts payable | 17/49 | €85,886 | €46,099 | -€39,787 | -46.3% |
| Amounts payable after more than one year | 17 | €58,884 | €669 | -€58,215 | -98.9% |
| Financial debts | 170/4 | €58,884 | €669 | -€58,215 | -98.9% |
| Amounts payable within one year | 42/48 | €21,475 | €41,243 | +€19,768 | +92.1% |
| Trade debts | 44 | €1,588 | €2,338 | +€750 | +47.2% |
| Suppliers | 440/4 | €1,588 | €2,338 | +€750 | +47.2% |
| Taxes, remuneration and social security | 45 | €2,176 | €21,904 | +€19,729 | +906.8% |
| Taxes | 450/3 | €2,176 | €21,904 | +€19,729 | +906.8% |
| Other amounts payable | 47/48 | €17,711 | €17,000 | -€711 | -4.0% |
| Accrued charges and deferred income | 492/3 | €5,526 | €4,187 | -€1,339 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231 | €231 | = | 0.0% |
| Other operating charges | 640/8 | €519 | €528 | +€8 | +1.6% |
| Non-recurring operating charges | 66A | €1,114 | €0 | -€1,114 | -100.0% |
| Gross operating margin | 9900 | €1,844 | €20,458 | +€18,614 | +1009.7% |
| Operating profit (loss) | 9901 | -€21 | €19,699 | +€19,720 | |
| Financial income | 75/76B | €13,457 | €56,766 | +€43,308 | +321.8% |
| Recurring financial income | 75 | €13,457 | €19,766 | +€6,308 | +46.9% |
| Non-recurring financial income | 76B | - | €37,000 | +€37,000 | |
| Financial charges | 65/66B | €5,997 | €4,690 | -€1,307 | -21.8% |
| Recurring financial charges | 65 | €5,997 | €4,690 | -€1,307 | -21.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €7,439 | €71,774 | +€64,335 | +864.9% |
| Income taxes | 67/77 | €10 | €17,388 | +€17,378 | +171207.1% |
| Profit (loss) for the period | 9904 | €7,428 | €54,386 | +€46,958 | +632.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,428 | €54,386 | +€46,958 | +632.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.