Quadrant Management: 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 Management
Largest movements
- Receivables within one year +€87,595
up €87,595 (+59.6%), from €146,866 to €234,461
of which Other amounts receivable: +€83,735
- Cash -€9,012
down €9,012 (-23.3%), from €38,699 to €29,688
mainly Receivables within one year (-€87,595) and Contributions, distributions and other (-€34,498)
- Reserves +€53,600
up €53,600 (+25.0%), from €214,696 to €268,296
- Tax, wage and social debts +€23,488
up €23,488 (+62.4%), from €37,644 to €61,132
- Gross operating margin +€5,548
up €5,548 (+3.9%), from €142,928 to €148,476
- Taxes +€3,711
up €3,711 (+8.0%), from €46,192 to €49,903
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 | €267,742 | €343,763 | +€76,021 | +28.4% |
| Fixed assets | 21/28 | €15,097 | €12,333 | -€2,763 | -18.3% |
| Tangible fixed assets | 22/27 | €15,097 | €12,333 | -€2,763 | -18.3% |
| Plant, machinery and equipment | 23 | €4,683 | €2,286 | -€2,397 | -51.2% |
| Furniture and vehicles | 24 | €4,826 | €6,231 | +€1,405 | +29.1% |
| Other tangible fixed assets | 26 | €5,587 | €3,817 | -€1,771 | -31.7% |
| Current assets | 29/58 | €252,645 | €331,430 | +€78,784 | +31.2% |
| Amounts receivable after more than one year | 29 | €65,000 | €65,000 | = | 0.0% |
| Other amounts receivable | 291 | €65,000 | €65,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €146,866 | €234,461 | +€87,595 | +59.6% |
| Trade receivables | 40 | €494 | €4,354 | +€3,860 | +782.0% |
| Other amounts receivable | 41 | €146,372 | €230,107 | +€83,735 | +57.2% |
| Cash at bank and in hand | 54/58 | €38,699 | €29,688 | -€9,012 | -23.3% |
| Deferred charges and accrued income | 490/1 | €2,080 | €2,281 | +€201 | +9.7% |
| Total equity and liabilities | 10/49 | €267,742 | €343,763 | +€76,021 | +28.4% |
| Equity | 10/15 | €215,696 | €269,296 | +€53,600 | +24.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €214,696 | €268,296 | +€53,600 | +25.0% |
| Distributable reserves | 133 | €214,696 | €268,296 | +€53,600 | +25.0% |
| Amounts payable | 17/49 | €52,046 | €74,467 | +€22,421 | +43.1% |
| Amounts payable within one year | 42/48 | €52,046 | €74,467 | +€22,421 | +43.1% |
| Trade debts | 44 | €14,402 | €13,335 | -€1,067 | -7.4% |
| Suppliers | 440/4 | €14,402 | €13,335 | -€1,067 | -7.4% |
| Taxes, remuneration and social security | 45 | €37,644 | €61,132 | +€23,488 | +62.4% |
| Taxes | 450/3 | €37,644 | €61,132 | +€23,488 | +62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,744 | €7,470 | -€1,274 | -14.6% |
| Other operating charges | 640/8 | €650 | €1,190 | +€541 | +83.3% |
| Gross operating margin | 9900 | €142,928 | €148,476 | +€5,548 | +3.9% |
| Operating profit (loss) | 9901 | €133,534 | €139,815 | +€6,281 | +4.7% |
| Financial income | 75/76B | €1,810 | €2,102 | +€292 | +16.1% |
| Recurring financial income | 75 | €1,810 | €2,102 | +€292 | +16.1% |
| Financial charges | 65/66B | €3,892 | €3,916 | +€24 | +0.6% |
| Recurring financial charges | 65 | €3,892 | €3,916 | +€24 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €131,452 | €138,001 | +€6,549 | +5.0% |
| Income taxes | 67/77 | €46,192 | €49,903 | +€3,711 | +8.0% |
| Profit (loss) for the period | 9904 | €85,260 | €88,098 | +€2,838 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,260 | €88,098 | +€2,838 | +3.3% |
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 10 October 2026 via checked.be.