QUADRALIGHT: 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.
QUADRALIGHT
Largest movements
- Receivables within one year +€128,441
up €128,441 (+44.9%), from €286,168 to €414,609
of which Trade receivables: +€90,997
- Cash -€28,399
down €28,399 (-17.5%), from €162,399 to €134,000
mainly Receivables within one year (-€128,441) and Contributions, distributions and other (-€16,852)
- Tangible fixed assets -€13,480
down €13,480 (-33.6%), from €40,146 to €26,667
- Profit (loss) carried forward +€61,780
up €61,780 (+61.1%), from €101,192 to €162,972
- Trade debts +€58,994
up €58,994 (+163.0%), from €36,193 to €95,187
- Reserves -€14,811
down €14,811 (-25.7%), from €57,719 to €42,908
of which Distributable reserves: -€14,811
- Current portion of long-term debt -€10,073
down €10,073 (-20.3%), from €49,577 to €39,504
- Debts after one year -€9,504
down €9,504 (-85.4%), from €11,127 to €1,623
- Gross operating margin +€57,394
up €57,394 (+38.0%), from €151,072 to €208,467
- Taxes +€16,849
up €16,849 (+378.6%), from €4,450 to €21,298
- Staff costs -€11,704
down €11,704 (-9.5%), from €123,153 to €111,449
- Financial charges -€4,125
down €4,125 (-30.8%), from €13,396 to €9,271
- Write-downs -€3,745
down €3,745 (-100.0%), from €3,745 to €0
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 | €513,913 | €596,876 | +€82,963 | +16.1% |
| Fixed assets | 21/28 | €41,396 | €27,917 | -€13,480 | -32.6% |
| Tangible fixed assets | 22/27 | €40,146 | €26,667 | -€13,480 | -33.6% |
| Furniture and vehicles | 24 | €40,146 | €26,667 | -€13,480 | -33.6% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €472,516 | €568,959 | +€96,443 | +20.4% |
| Stocks and contracts in progress | 3 | €17,405 | €14,417 | -€2,988 | -17.2% |
| Stocks | 30/36 | €17,405 | €14,417 | -€2,988 | -17.2% |
| Amounts receivable within one year | 40/41 | €286,168 | €414,609 | +€128,441 | +44.9% |
| Trade receivables | 40 | €244,605 | €335,602 | +€90,997 | +37.2% |
| Other amounts receivable | 41 | €41,563 | €79,007 | +€37,444 | +90.1% |
| Cash at bank and in hand | 54/58 | €162,399 | €134,000 | -€28,399 | -17.5% |
| Deferred charges and accrued income | 490/1 | €6,544 | €5,932 | -€611 | -9.3% |
| Total equity and liabilities | 10/49 | €513,913 | €596,876 | +€82,963 | +16.1% |
| Equity | 10/15 | €235,077 | €280,005 | +€44,928 | +19.1% |
| Contributions | 10/11 | €74,125 | €74,125 | = | 0.0% |
| Capital | 10 | €74,125 | €74,125 | = | 0.0% |
| Issued capital | 100 | €74,125 | €74,125 | = | 0.0% |
| Reserves | 13 | €57,719 | €42,908 | -€14,811 | -25.7% |
| Non-distributable reserves | 130/1 | €7,413 | €7,413 | = | 0.0% |
| Legal reserve | 130 | €7,413 | €7,413 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,515 | €17,515 | = | 0.0% |
| Distributable reserves | 133 | €32,791 | €17,980 | -€14,811 | -45.2% |
| Profit (loss) carried forward | 14 | €101,192 | €162,972 | +€61,780 | +61.1% |
| Investment grants | 15 | €2,041 | €0 | -€2,041 | -100.0% |
| Amounts payable | 17/49 | €278,836 | €316,871 | +€38,035 | +13.6% |
| Amounts payable after more than one year | 17 | €11,127 | €1,623 | -€9,504 | -85.4% |
| Financial debts | 170/4 | €11,127 | €1,623 | -€9,504 | -85.4% |
| Amounts payable within one year | 42/48 | €258,101 | €303,012 | +€44,911 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €49,577 | €39,504 | -€10,073 | -20.3% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €36,193 | €95,187 | +€58,994 | +163.0% |
| Suppliers | 440/4 | €36,193 | €95,187 | +€58,994 | +163.0% |
| Taxes, remuneration and social security | 45 | €13,959 | €16,963 | +€3,004 | +21.5% |
| Taxes | 450/3 | €1,887 | €3,805 | +€1,918 | +101.7% |
| Remuneration and social security | 454/9 | €12,073 | €13,158 | +€1,086 | +9.0% |
| Other amounts payable | 47/48 | €58,371 | €51,357 | -€7,014 | -12.0% |
| Accrued charges and deferred income | 492/3 | €9,608 | €12,236 | +€2,628 | +27.4% |
| Non-recurring operating income | 76A | €0 | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €123,153 | €111,449 | -€11,704 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,749 | €13,480 | +€1,731 | +14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,745 | €0 | -€3,745 | -100.0% |
| Other operating charges | 640/8 | €1,083 | €457 | -€626 | -57.8% |
| Gross operating margin | 9900 | €151,072 | €208,467 | +€57,394 | +38.0% |
| Operating profit (loss) | 9901 | €11,343 | €83,080 | +€71,738 | +632.5% |
| Financial income | 75/76B | €7,725 | €9,268 | +€1,544 | +20.0% |
| Recurring financial income | 75 | €7,725 | €9,268 | +€1,544 | +20.0% |
| Financial charges | 65/66B | €13,396 | €9,271 | -€4,125 | -30.8% |
| Recurring financial charges | 65 | €13,396 | €9,271 | -€4,125 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €5,671 | €83,078 | +€77,407 | +1364.9% |
| Income taxes | 67/77 | €4,450 | €21,298 | +€16,849 | +378.6% |
| Profit (loss) for the period | 9904 | €1,221 | €61,780 | +€60,558 | +4958.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,221 | €61,780 | +€60,558 | +4958.5% |
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.