Quadratio: 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.
Quadratio
Largest movements
- Cash -€19,006
down €19,006 (-15.6%), from €121,496 to €102,490
mainly Contributions, distributions and other (-€100,123) and Debts after one year (-€15,000)
- Debts after one year -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Other debts +€14,843
new in 2025: €14,843
- Trade debts -€10,485
down €10,485 (-78.4%), from €13,379 to €2,894
of which Bills of exchange payable: -€11,728
- Reserves -€5,726
down €5,726 (-6.0%), from €95,828 to €90,102
- Tax, wage and social debts -€2,257
down €2,257 (-41.0%), from €5,504 to €3,246
- Gross operating margin -€14,680
down €14,680 (-10.9%), from €134,481 to €119,801
- Taxes -€6,403
down €6,403 (-21.9%), from €29,257 to €22,854
- Depreciation -€3,124
down €3,124 (-77.5%), from €4,031 to €907
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 | €147,711 | €129,085 | -€18,626 | -12.6% |
| Fixed assets | 21/28 | €907 | - | -€907 | |
| Tangible fixed assets | 22/27 | €907 | - | -€907 | |
| Plant, machinery and equipment | 23 | €907 | - | -€907 | |
| Current assets | 29/58 | €146,805 | €129,085 | -€17,719 | -12.1% |
| Amounts receivable within one year | 40/41 | €25,308 | €26,595 | +€1,287 | +5.1% |
| Trade receivables | 40 | €25,308 | €26,595 | +€1,287 | +5.1% |
| Cash at bank and in hand | 54/58 | €121,496 | €102,490 | -€19,006 | -15.6% |
| Total equity and liabilities | 10/49 | €147,711 | €129,085 | -€18,626 | -12.6% |
| Equity | 10/15 | €98,828 | €93,102 | -€5,726 | -5.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €95,828 | €90,102 | -€5,726 | -6.0% |
| Distributable reserves | 133 | €95,828 | €90,102 | -€5,726 | -6.0% |
| Amounts payable | 17/49 | €48,883 | €35,983 | -€12,900 | -26.4% |
| Amounts payable after more than one year | 17 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Financial debts | 170/4 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Amounts payable within one year | 42/48 | €18,883 | €20,983 | +€2,100 | +11.1% |
| Trade debts | 44 | €13,379 | €2,894 | -€10,485 | -78.4% |
| Suppliers | 440/4 | €1,651 | €2,894 | +€1,243 | +75.3% |
| Bills of exchange payable | 441 | €11,728 | - | -€11,728 | |
| Taxes, remuneration and social security | 45 | €5,504 | €3,246 | -€2,257 | -41.0% |
| Taxes | 450/3 | €5,504 | €3,246 | -€2,257 | -41.0% |
| Other amounts payable | 47/48 | - | €14,843 | +€14,843 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,031 | €907 | -€3,124 | -77.5% |
| Other operating charges | 640/8 | €906 | €1,520 | +€614 | +67.8% |
| Gross operating margin | 9900 | €134,481 | €119,801 | -€14,680 | -10.9% |
| Operating profit (loss) | 9901 | €129,544 | €117,374 | -€12,170 | -9.4% |
| Financial income | 75/76B | €137 | €322 | +€185 | +135.2% |
| Recurring financial income | 75 | €137 | €322 | +€185 | +135.2% |
| Financial charges | 65/66B | €431 | €445 | +€14 | +3.3% |
| Recurring financial charges | 65 | €431 | €445 | +€14 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €129,250 | €117,251 | -€11,999 | -9.3% |
| Income taxes | 67/77 | €29,257 | €22,854 | -€6,403 | -21.9% |
| Profit (loss) for the period | 9904 | €99,993 | €94,397 | -€5,596 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,993 | €94,397 | -€5,596 | -5.6% |
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 11 October 2026 via checked.be.