QUADRIGA-PLUS: 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.
QUADRIGA-PLUS
Largest movements
- Stocks and contracts -€392,604
down €392,604 (-59.5%), from €660,315 to €267,711
- Cash +€91,489
up €91,489 (+67.1%), from €136,311 to €227,799
mainly Stocks and contracts (+€392,604) and Other debts (+€78,582)
- Tangible fixed assets -€13,425
down €13,425 (-41.6%), from €32,238 to €18,813
of which Furniture and vehicles: -€12,777
- Reserves -€409,810
down €409,810 (-70.7%), from €580,037 to €170,227
of which Distributable reserves: -€409,810
- Other debts +€78,582
up €78,582 (+56.1%), from €139,972 to €218,554
- Tax, wage and social debts +€10,620
up €10,620 (+76.8%), from €13,820 to €24,440
- Gross operating margin +€31,009
up €31,009 (+71.2%), from €43,554 to €74,563
- Taxes +€9,829
up €9,829 (+135.2%), from €7,268 to €17,097
- Financial charges -€5,266
down €5,266 (-69.0%), from €7,626 to €2,360
- Depreciation -€1,114
down €1,114 (-7.7%), from €14,540 to €13,425
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 | €894,057 | €567,227 | -€326,830 | -36.6% |
| Fixed assets | 21/28 | €32,238 | €18,813 | -€13,425 | -41.6% |
| Tangible fixed assets | 22/27 | €32,238 | €18,813 | -€13,425 | -41.6% |
| Plant, machinery and equipment | 23 | €648 | €0 | -€648 | -100.0% |
| Furniture and vehicles | 24 | €31,590 | €18,813 | -€12,777 | -40.4% |
| Current assets | 29/58 | €861,819 | €548,414 | -€313,404 | -36.4% |
| Stocks and contracts in progress | 3 | €660,315 | €267,711 | -€392,604 | -59.5% |
| Stocks | 30/36 | €660,315 | €267,711 | -€392,604 | -59.5% |
| Amounts receivable within one year | 40/41 | €61,023 | €52,905 | -€8,118 | -13.3% |
| Trade receivables | 40 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 41 | €11,023 | €2,905 | -€8,118 | -73.7% |
| Cash at bank and in hand | 54/58 | €136,311 | €227,799 | +€91,489 | +67.1% |
| Deferred charges and accrued income | 490/1 | €4,170 | €0 | -€4,170 | -100.0% |
| Total equity and liabilities | 10/49 | €894,057 | €567,227 | -€326,830 | -36.6% |
| Equity | 10/15 | €733,801 | €323,991 | -€409,810 | -55.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €580,037 | €170,227 | -€409,810 | -70.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €578,177 | €168,367 | -€409,810 | -70.9% |
| Profit (loss) carried forward | 14 | €135,164 | €135,164 | = | 0.0% |
| Amounts payable | 17/49 | €160,256 | €243,236 | +€82,980 | +51.8% |
| Amounts payable within one year | 42/48 | €160,256 | €243,236 | +€82,980 | +51.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €6,464 | €242 | -€6,222 | -96.3% |
| Suppliers | 440/4 | €6,464 | €242 | -€6,222 | -96.3% |
| Taxes, remuneration and social security | 45 | €13,820 | €24,440 | +€10,620 | +76.8% |
| Taxes | 450/3 | €13,820 | €24,440 | +€10,620 | +76.8% |
| Other amounts payable | 47/48 | €139,972 | €218,554 | +€78,582 | +56.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,540 | €13,425 | -€1,114 | -7.7% |
| Other operating charges | 640/8 | €2,652 | €2,309 | -€343 | -12.9% |
| Gross operating margin | 9900 | €43,554 | €74,563 | +€31,009 | +71.2% |
| Operating profit (loss) | 9901 | €26,362 | €58,828 | +€32,467 | +123.2% |
| Financial income | 75/76B | €6 | €6 | +€0 | +1.7% |
| Recurring financial income | 75 | €6 | €6 | +€0 | +1.7% |
| Financial charges | 65/66B | €7,626 | €2,360 | -€5,266 | -69.0% |
| Recurring financial charges | 65 | €7,626 | €2,360 | -€5,266 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €18,742 | €56,474 | +€37,733 | +201.3% |
| Income taxes | 67/77 | €7,268 | €17,097 | +€9,829 | +135.2% |
| Profit (loss) for the period | 9904 | €11,474 | €39,377 | +€27,903 | +243.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,474 | €39,377 | +€27,903 | +243.2% |
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 4 October 2026 via checked.be.