QUADRAHOLD: 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.
QUADRAHOLD
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€868,839
up €868,839 (+527%), from €164,744 to €1.0m
- Other debts -€692,719
down €692,719 (-99.3%), from €697,678 to €4,959
- Debts after one year -€186,042
down €186,042 (-13.0%), from €1.4m to €1.2m
of which Financial debts: -€186,042
- Financial income +€613,173
up €613,173 (+243%), from €252,000 to €865,173
- Financial charges -€36,657
down €36,657 (-33.5%), from €109,472 to €72,815
- Gross operating margin +€11,473
up €11,473 (+16.6%), from €69,076 to €80,550
- Depreciation +€1,850
up €1,850 (+111%), from €1,672 to €3,522
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 | €2,608,060 | €2,597,465 | -€10,595 | -0.4% |
| Fixed assets | 21/28 | €2,504,810 | €2,506,537 | +€1,727 | +0.1% |
| Tangible fixed assets | 22/27 | €9,810 | €10,982 | +€1,172 | +11.9% |
| Furniture and vehicles | 24 | €3,906 | €3,138 | -€768 | -19.7% |
| Other tangible fixed assets | 26 | €5,904 | €7,844 | +€1,940 | +32.9% |
| Financial fixed assets | 28 | €2,495,000 | €2,495,555 | +€555 | 0.0% |
| Current assets | 29/58 | €103,250 | €90,928 | -€12,322 | -11.9% |
| Amounts receivable within one year | 40/41 | €3,932 | €0 | -€3,932 | -100% |
| Trade receivables | 40 | €3,932 | €0 | -€3,932 | -100% |
| Cash at bank and in hand | 54/58 | €99,318 | €90,928 | -€8,390 | -8.4% |
| Total equity and liabilities | 10/49 | €2,608,060 | €2,597,465 | -€10,595 | -0.4% |
| Equity | 10/15 | €264,744 | €1,133,582 | +€868,839 | +328% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €164,744 | €1,033,582 | +€868,839 | +527% |
| Distributable reserves | 133 | €164,744 | €1,033,582 | +€868,839 | +527% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,343,316 | €1,463,883 | -€879,433 | -37.5% |
| Amounts payable after more than one year | 17 | €1,430,603 | €1,244,562 | -€186,042 | -13.0% |
| Financial debts | 170/4 | €930,603 | €744,562 | -€186,042 | -20.0% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €896,247 | €204,471 | -€691,776 | -77.2% |
| Current portion of amounts payable after more than one year | 42 | €185,574 | €186,042 | +€467 | +0.3% |
| Trade debts | 44 | €3,636 | €3,591 | -€46 | -1.3% |
| Suppliers | 440/4 | €3,636 | €3,591 | -€46 | -1.3% |
| Taxes, remuneration and social security | 45 | €9,358 | €9,880 | +€522 | +5.6% |
| Taxes | 450/3 | €9,358 | €9,880 | +€522 | +5.6% |
| Other amounts payable | 47/48 | €697,678 | €4,959 | -€692,719 | -99.3% |
| Accrued charges and deferred income | 492/3 | €16,466 | €14,850 | -€1,616 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,672 | €3,522 | +€1,850 | +111% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Non-recurring operating charges | 66A | - | €189 | +€189 | |
| Gross operating margin | 9900 | €69,076 | €80,550 | +€11,473 | +16.6% |
| Operating profit (loss) | 9901 | €67,404 | €76,695 | +€9,290 | +13.8% |
| Financial income | 75/76B | €252,000 | €865,173 | +€613,173 | +243% |
| Recurring financial income | 75 | €252,000 | €865,173 | +€613,173 | +243% |
| Financial charges | 65/66B | €109,472 | €72,815 | -€36,657 | -33.5% |
| Recurring financial charges | 65 | €109,472 | €72,815 | -€36,657 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €209,932 | €869,053 | +€659,121 | +314% |
| Income taxes | 67/77 | €189 | €215 | +€26 | +13.7% |
| Profit (loss) for the period | 9904 | €209,744 | €868,839 | +€659,095 | +314% |
| Profit (loss) for the period to be appropriated | 9905 | €209,744 | €868,839 | +€659,095 | +314% |
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 16 October 2026 via checked.be.