QUADRANT: 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.
QUADRANT
Largest movements
- Receivables within one year +€29,408
up €29,408 (+46.7%), from €62,964 to €92,372
of which Trade receivables: +€16,130
- Cash +€18,909
up €18,909 (+13.8%), from €136,533 to €155,443
mainly Net result for the year (+€111,990) and Depreciation (+€5,123)
- Deferred charges and accrued income +€4,279
up €4,279 (+175%), from €2,451 to €6,730
- Profit (loss) carried forward +€111,990
up €111,990 (+372%), from €30,132 to €142,122
- Trade debts -€36,442
down €36,442 (-33.5%), from €108,649 to €72,207
- Tax, wage and social debts -€12,682
down €12,682 (-39.9%), from €31,755 to €19,073
- Current portion of long-term debt -€5,973
down €5,973 (-43.9%), from €13,618 to €7,645
- Other debts -€2,734
no longer reported in 2025 (was €2,734)
- Gross operating margin -€127,365
down €127,365 (-23.5%), from €542,197 to €414,832
- Taxes -€23,534
down €23,534 (-36.5%), from €64,422 to €40,888
- Staff costs -€16,689
down €16,689 (-6.2%), from €270,632 to €253,943
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 | €209,863 | €264,167 | +€54,304 | +25.9% |
| Fixed assets | 21/28 | €7,915 | €9,622 | +€1,708 | +21.6% |
| Tangible fixed assets | 22/27 | €7,915 | €9,622 | +€1,708 | +21.6% |
| Plant, machinery and equipment | 23 | €103 | €8 | -€95 | -92.2% |
| Furniture and vehicles | 24 | €7,812 | €9,614 | +€1,802 | +23.1% |
| Current assets | 29/58 | €201,948 | €254,545 | +€52,596 | +26.0% |
| Amounts receivable within one year | 40/41 | €62,964 | €92,372 | +€29,408 | +46.7% |
| Trade receivables | 40 | €32,107 | €48,237 | +€16,130 | +50.2% |
| Other amounts receivable | 41 | €30,857 | €44,135 | +€13,278 | +43.0% |
| Cash at bank and in hand | 54/58 | €136,533 | €155,443 | +€18,909 | +13.8% |
| Deferred charges and accrued income | 490/1 | €2,451 | €6,730 | +€4,279 | +175% |
| Total equity and liabilities | 10/49 | €209,863 | €264,167 | +€54,304 | +25.9% |
| Equity | 10/15 | €53,039 | €165,029 | +€111,990 | +211% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,308 | €4,308 | = | 0.0% |
| Distributable reserves | 133 | €4,308 | €4,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,132 | €142,122 | +€111,990 | +372% |
| Amounts payable | 17/49 | €156,824 | €99,138 | -€57,686 | -36.8% |
| Amounts payable within one year | 42/48 | €156,756 | €98,925 | -€57,831 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €13,618 | €7,645 | -€5,973 | -43.9% |
| Trade debts | 44 | €108,649 | €72,207 | -€36,442 | -33.5% |
| Suppliers | 440/4 | €108,649 | €72,207 | -€36,442 | -33.5% |
| Taxes, remuneration and social security | 45 | €31,755 | €19,073 | -€12,682 | -39.9% |
| Remuneration and social security | 454/9 | €31,755 | €19,073 | -€12,682 | -39.9% |
| Other amounts payable | 47/48 | €2,734 | - | -€2,734 | |
| Accrued charges and deferred income | 492/3 | €68 | €213 | +€145 | +214% |
| Remuneration, social security and pensions | 62 | €270,632 | €253,943 | -€16,689 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,937 | €5,123 | -€1,814 | -26.1% |
| Other operating charges | 640/8 | €775 | €706 | -€69 | -8.9% |
| Gross operating margin | 9900 | €542,197 | €414,832 | -€127,365 | -23.5% |
| Operating profit (loss) | 9901 | €263,853 | €155,060 | -€108,793 | -41.2% |
| Financial income | 75/76B | €4,799 | €978 | -€3,822 | -79.6% |
| Recurring financial income | 75 | €4,799 | €978 | -€3,822 | -79.6% |
| Financial charges | 65/66B | €3,552 | €3,159 | -€393 | -11.1% |
| Recurring financial charges | 65 | €3,552 | €3,159 | -€393 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €265,100 | €152,878 | -€112,222 | -42.3% |
| Income taxes | 67/77 | €64,422 | €40,888 | -€23,534 | -36.5% |
| Profit (loss) for the period | 9904 | €200,678 | €111,990 | -€88,688 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €200,678 | €111,990 | -€88,688 | -44.2% |
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 17 October 2026 via checked.be.